Comparison View

Formal Consolidation |  Amended S 296/2015
Disapplication of section 49L of Act
4A.—(1)  For the purposes of section 49L(1)(c) of the Act, the following types of relevant policies are relevant policies to which section 49L (trust nomination) of the Act shall not apply:
(a)any relevant policy taken up under the ElderShield Supplement Scheme;
(b)any relevant policy that is an integrated medical insurance plan;
(c)any relevant policy purchased using funds from a person’s SRS account under the Supplementary Retirement Scheme.
(2)  In paragraph (1) —
“ElderShield Supplement Scheme” has the same meaning as in regulation 2 of the Central Provident Fund (Withdrawals for ElderShield Scheme) Regulations (Cap. 36, Rg 29);
“integrated medical insurance plan” has the same meaning as in regulation 2 of the Central Provident Fund (Private Medical Insurance Scheme) Regulations (Cap. 36, Rg 26);
“SRS account” has the same meaning as in section 2(1) of the Income Tax Act (Cap. 134);
“Supplementary Retirement Scheme” means the Supplementary Retirement Scheme established by regulation 3 of the Income Tax (Supplementary Retirement Scheme) Regulations 2003 (G.N. No. S 30/2003).
[S 296/2015 wef 01/06/2015]
Informal Consolidation | Amended S 813/2021
Disapplication of section 49L of Act
4A.—(1)  For the purposes of section 49L(1)(c) of the Act, the following types of relevant policies are relevant policies to which section 49L (trust nomination) of the Act shall not apply:
(a)any relevant policy that is a supplementary disability insurance policy;
[S 813/2021 wef 01/11/2021]
(aa)[Deleted by S 813/2021 wef 01/11/2021]
(b)any relevant policy that is a medisave‑approved plan;
[S 632/2015 wef 01/11/2015]
(c)any relevant policy purchased using funds from a person’s SRS account under the Supplementary Retirement Scheme.
(2)  In paragraph (1) —
[Deleted by S 813/2021 wef 01/11/2021]
[Deleted by S 813/2021 wef 01/11/2021]
[Deleted by S 632/2015 wef 01/11/2015]
“medisave‑approved plan” has the same meaning as in regulation 2(1) of the MediShield Life Scheme (Private Medical Insurance Scheme) Regulations 2015 (G.N. No. S 623/2015);
[S 632/2015 wef 01/11/2015]
“SRS account” has the same meaning as in section 2(1) of the Income Tax Act (Cap. 134);
“supplementary disability insurance policy” has the meaning given by regulation 2 of the CareShield Life and Long-Term Care (Supplement Scheme) Regulations 2020 (G.N. No. S 850/2020);
[S 813/2021 wef 01/11/2021]
“Supplementary Retirement Scheme” means the Supplementary Retirement Scheme established by regulation 3 of the Income Tax (Supplementary Retirement Scheme) Regulations 2003 (G.N. No. S 30/2003).
[S 296/2015 wef 01/06/2015]