14.—(1) Where the financial year of a registered insurer covers the same period as the accounting period of that insurer, the insurer shall be exempt from submitting the report referred to in section 36 (13) of the Act to the Authority in accordance with that section, subject to the condition that the insurer shall lodge its annual report with the Authority.
[S 39/2006 wef 31/01/2006]
(2) Where the financial year of a registered insurer does not cover the same period as the accounting period, the insurer shall lodge with the Authority its annual report for each financial year.
[S 39/2006 wef 31/01/2006]
(3) In this regulation, “annual report”, in relation to a registered insurer, means any report for each financial year submitted to the members of the insurer and any statement of account so submitted with respect to that year.