Comparison View

Amendments are not highlighted in legislation amended before 2012. We are working on it.
Formal Consolidation |  1996 RevEd
Approval of insurance company
3.  The Minister or such person as he may appoint may, upon application by any insurance company registered under the Insurance Act [Cap. 142] to carry on life insurance business only and if he considers it expedient in the public interest to do so, approve the insurance company for the purposes of these Regulations where —
(a)the insurance company has on 5th May 1995 been carrying on offshore life business and the application is made not later than 31st December 1995; or
(b)the insurance company commences to carry on offshore life business after 5th May 1995 and the application is made within 3 months after the date of commencement of such business.
Informal Consolidation | Amended S 603/2017
Approval of insurer
3.—(1)  The Minister or such person as he may appoint may, upon application by any insurer registered under the Insurance Act (Cap. 142) to carry on life insurance business only and if he considers it expedient in the public interest to do so, during the period from 1 April 2010 to 31 March 2020 (both dates inclusive) approve the insurer as an approved insurer for the purposes of these Regulations.
[S 603/2017 wef 01/04/2015]
(2)  Any approval under paragraph (1) shall be for such period not exceeding 10 years as the Minister or such person as is appointed under paragraph (1) may specify.
[S 103/2011 wef 01/04/2010]