Requirements for Service Company
5.  No person shall act as an agent in Singapore for any member of Lloyd’s under these Regulations unless it is a company registered under the Companies Act (Cap. 50) and meets the following requirements:
(a)the company must be registered with the administrator under regulation 6; and
(b)the company must, unless the Authority otherwise permits, be —
(i)a subsidiary of a managing agent at Lloyd’s; or
(ii)a subsidiary of the holding company of a managing agent at Lloyd’s.
[S 665/2010 wef 04/11/2010]