On 19/06/2013,
you requested for the version in force on 19/06/2013
incorporating all amendments published on or before 19/06/2013.
The closest version currently available is that of 09/12/2003.
14. Section 13 of the Insurance Act is amended —
(a)
by deleting subsection (1) and substituting the following subsection:
“(1) Where an order of cancellation under section 12 or an order of withdrawal under section 12A becomes effective —
(a)
the Authority shall publish a notice of the cancellation or withdrawal, as the case may be, in the Gazette; and
(b)
the insurer shall —
(i)
as from the date of cancellation, cease to carry on insurance business in Singapore of the class in respect of which its registration has been cancelled under this Act; or
(ii)
as from the date of withdrawal, cease to carry on the business of providing reinsurance of liabilities under insurance policies to persons in Singapore of the class in respect of which its authorisation has been withdrawn under this Act,
otherwise than by the collection or receipt of premiums on insurance policies belonging to that class of insurance business effected before the date of cancellation of registration or withdrawal of authorisation, as the case may be, and section 3 shall not apply to the insurer in respect of the collection or receipt of those premiums.”; and
(b)
by inserting, immediately after the word “registration” in the section heading, the words “and withdrawal of authorisation”.