Comparison View

Formal Consolidation |  Amended S 130/2010
Forms
3.—(1)  The forms to be used for the purposes of these Regulations are those set out in the Schedule.
(2)  Every form used for the purposes of these Regulations —
(a)shall be completed in the English language and in accordance with such directions as may be specified in the form;
(b)subject to regulations 5A(3) and 5B(5), if the form pertains to —
(i)the making of a nomination under section 49L(2) of the Act in respect of a relevant policy;
(ii)the appointment, or the revocation of the appointment, under section 49L(12) of the Act of any trustee of the policy moneys payable under a relevant policy;
(iii)the making of a nomination under section 49M(2) of the Act in respect of a relevant policy; or
(iv)the revocation under section 49M(4) of the Act of a nomination under section 49M(2) of the Act in respect of a relevant policy,
shall be signed by the policy owner in the presence of 2 witnesses (each being an individual who has attained the age of 21 years and is not a nominee or the spouse of a nominee, and each of whom shall also sign the form); and
(c)subject to regulation 5B(3), if the form pertains to the revocation under section 49L(7) of the Act of a nomination under section 49L(2) of the Act in respect of a relevant policy, shall be signed, in the presence of 2 witnesses (each being an individual who has attained the age of 21 years and is not a nominee or the spouse of a nominee, and each of whom shall also sign the form), by the policy owner and by —
(i)any trustee of the policy moneys payable under the relevant policy (not being the policy owner); or
(ii)each nominee who has attained the age of 18 years and a parent or legal guardian (not being the policy owner) of each nominee who is below the age of 18 years,
and all references in these Regulations to completing a form, or to a duly completed form, shall be construed accordingly.
(3)  A registered insurer may refuse to accept a form if it is not completed in accordance with these Regulations.
Informal Consolidation | Amended S 632/2015
Forms
3.—(1)  The forms to be used for the purposes of these Regulations are those set out in the Schedule.
(2)  Every form used for the purposes of these Regulations —
(a)shall be completed in the English language and in accordance with such directions as may be specified in the form;
(b)subject to regulations 5A(3) and 5B(5), if the form pertains to —
(i)the making of a nomination under section 49L(2) of the Act in respect of a relevant policy;
(ii)the appointment, or the revocation of the appointment, under section 49L(12) of the Act of any trustee of the policy moneys payable under a relevant policy;
(iii)the making of a nomination under section 49M(2) of the Act in respect of a relevant policy; or
(iv)the revocation under section 49M(4) of the Act of a nomination under section 49M(2) of the Act in respect of a relevant policy,
shall be signed by the policy owner in the presence of 2 witnesses (each being an individual who has attained the age of 21 years and is not a nominee or the spouse of a nominee, and each of whom shall also sign the form); and
[S 130/2010 wef 01/03/2010]
(c)subject to regulation 5B(3), if the form pertains to the revocation under section 49L(7) of the Act of a nomination under section 49L(2) of the Act in respect of a relevant policy, shall be signed, in the presence of 2 witnesses (each being an individual who has attained the age of 21 years and is not a nominee or the spouse of a nominee, and each of whom shall also sign the form), by the policy owner and by —
(i)any trustee of the policy moneys payable under the relevant policy (not being the policy owner); or
(ii)each nominee who has attained the age of 18 years and a parent or legal guardian (not being the policy owner) of each nominee who is below the age of 18 years,
[S 130/2010 wef 01/03/2010]
and all references in these Regulations to completing a form, or to a duly completed form, shall be construed accordingly.
(3)  A licensed insurer may refuse to accept a form if it is not completed in accordance with these Regulations.
[S 296/2015 wef 01/06/2015]