PART III
OTHER FINANCIAL REQUIREMENTS
Reduction in paid-up ordinary share capital or redemption of preference shares
5.—(1)  A licensed insurer incorporated in Singapore shall not reduce its paid-up ordinary share capital or redeem any preference share without the prior written approval of the Authority.
[S 233/2013 wef 18/04/2013]
(2)  A licensed insurer incorporated outside Singapore shall not reduce its paid-up ordinary share capital (or its equivalent recognised by the Authority as applicable to the insurer under the laws of the country or territory in which the insurer is incorporated, formed or established) without giving prior notice to the Authority.
[S 233/2013 wef 18/04/2013]
Preference shares and qualifying Tier 2 instruments
6.  A licensed insurer which is incorporated in Singapore shall notify the Authority of its intention to issue any preference share or qualifying Tier 2 instrument prior to the date of issue of the preference share or instrument.
[S 233/2013 wef 18/04/2013]