Insurance Act |
Insurance (Exemption) Regulations 2002 |
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Citation and commencement |
1. These Regulations may be cited as the Insurance (Exemption) Regulations 2002 and shall come into operation on 1st October 2002. |
Exemption in respect of securities lending arrangement |
2. Section 20 of the Act shall not apply in respect of the following:
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Exemption in respect of registered insurance brokers |
3. Section 35ZE of the Act shall not apply to any registered insurance broker who negotiates any contract of insurance with a foreign insurer carrying on insurance business under the Insurance (Lloyd’s Asia Scheme) Regulations 2002 (G.N. No. S 62/2002). |
Exemption for introducing activities |
Exemption in respect of insurance broking premium accounts |
4A.—(1) Section 35ZD of the Act and regulation 3A(b) of the Insurance (Accounts and Statements) Regulations (Rg 2) shall not apply to any registered insurance broker in respect of the carrying on of the type of insurance broking business for which it is registered under section 35X of the Act if it does not, in the course of that business, receive any moneys —
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Cancellation |
5. The Insurance (Exemption) Notification 2000 (G.N. No. S 577/2000) is cancelled. |
Managing Director, Monetary Authority of Singapore. |
[ID 05.1 V.29; AG/LEG/SL/142/2002/1 Vol. 1] |