2.—(1) In these Regulations, unless the context otherwise requires —
“direct general insurer” means a direct insurer licensed to carry on general business;
[S 243/2013 wef 18/04/2013]
“direct life insurer” means a direct insurer licensed to carry on life business;
[S 243/2013 wef 18/04/2013]
“electronic record” has the same meaning as in section 2 of the Electronic Transactions Act (Cap. 88);
“general reinsurer” means a reinsurer licensed to carry on general business;
[S 243/2013 wef 18/04/2013]
“life reinsurer” means a reinsurer licensed to carry on life business;
[S 243/2013 wef 18/04/2013]
“participating fund” means an insurance fund established and maintained under section 17(2) of the Act which comprises wholly or partly of participating policies;
“policy liabilities”, in relation to an insurance fund, means liabilities in respect of policies for which the insurance fund is established and maintained under section 17 of the Act;
“quarter” means any period of 3 months beginning on 1st January, 1st April, 1st July or 1st October of any year.
(2) For the purposes of these Regulations, a reference to a licensed insurer incorporated in Singapore includes a licensed insurer which is a society registered under the Co-operative Societies Act (Cap. 62).