On 26/05/2013,
you requested for the version in force on 26/05/2013
incorporating all amendments published on or before 26/05/2013.
The closest version currently available is that of 01/04/2010.
2. In these Regulations —
“approved captive insurer” means any captive insurer approved under regulation 3A;
“approved insurer” means any insurer approved under regulation 3;
[S 81/2009, wef Y/A 2005 & Sub Ys/A]
“approved takaful insurer” means any insurer approved under regulation 3B;
“capital allowances” means the allowances under section 19, 19A, 20, 21, 22 or 23 of the Act;
“captive insurer” has the same meaning as in section 1A of the Insurance Act (Cap. 142);
“interest from ACU deposits” means interest derived from deposits with an Asian Currency Unit in Singapore;
“offshore captive insurance business” means the offshore life business in relation to the risks of related companies, including third party offshore risks underwritten in the course of and incidental to the captive insurance business;
“offshore investments” means —
(a)
stocks and shares denominated in any foreign currency of companies not incorporated and not resident in Singapore;
(b)
securities, other than stocks and shares, denominated in any foreign currency (including bonds, notes, certificates of deposit and treasury bills) issued by foreign governments, foreign banks outside Singapore and companies not incorporated and not resident in Singapore;
(c)
futures contracts denominated in any foreign currency made in any futures exchange;
(d)
any immovable property situated outside Singapore;
(e)
certificates of deposit, notes and bonds issued by Asian Currency Units in Singapore;
(f)
Asian Dollar Bonds approved under section 13(1)(v) of the Act; and
(g)
foreign currency deposits with financial institutions outside Singapore;
“offshore life business”, “offshore life policies” and “participating fund” have the same meanings as in section 26(12) of the Act;
“participating policy” has the same meaning as in paragraph 6A of the First Schedule to the Insurance Act ;
[S 81/2009, wef Y/A 2006 & Sub Ys/A]
“qualifying return in lieu of interest” means any return in lieu of interest from investing in products endorsed by any Shari’ah council or body, or by any committee formed for the purpose of providing guidance on compliance with Shari’ah law.