Comparison View

Formal Consolidation |  2001 RevEd
Approval of marine hull and liability insurer
4.  The Minister or such person as he may appoint may, upon application by any approved insurer and if he considers it expedient in the public interest to do so, approve the insurer as an approved marine hull and liability insurer for such period not exceeding 10 years as he may specify.
[S 80/2009, wef Y/A 2005 & Sub Ys/A:2009-SL-134-RG-80]
Informal Consolidation | Amended S 613/2017
Approval of marine hull and liability insurer
4.—(1)  The Minister or such person as he may appoint may, upon application by any insurer carrying on marine hull and liability insurance and reinsurance business and if he considers it expedient in the public interest to do so, approve the insurer as an approved marine hull and liability insurer.
[S 613/2017 wef 01/04/2016]
(2)  No approval shall be granted under paragraph (1) after 31 March 2020.
[S 602/2017 wef 01/04/2016]
(3)  Any approval granted under paragraph (1) is for —
(a)such period not exceeding 10 years as the Minister or such person as the Minister may appoint may specify, if the approval is granted before 1 April 2016; or
(b)a period of 5 years, if the approval is granted on or after 1 April 2016.
[S 602/2017 wef 01/04/2016]