—(1) An approved MAT insurer shall, if notified in writing by the Authority, furnish the Authority with information about any matter related to any MAT insurance business in respect of which it is approved.
(2) Any approved MAT insurer which contravenes paragraph (1) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $25,000.
22. An approved MAT insurer shall comply with such directions as may be issued by the Authority, by notice in writing, to the insurer on the manner and form of the transfer of the whole or part of the insurance business written by the insurer under these Regulations.
—(1) Every approved MAT insurer shall pay to the Authority, before 1st January of each year, an annual fee of $20,000.
(2) The Authority may exempt wholly or in part any approved MAT insurer from the payment of annual fees specified in paragraph (1).
24. An approved MAT insurer shall not —
use any word, other than the words “approved MAT insurer” or any of its derivatives in any language, to indicate that it carries on the business of providing marine, aviation and transit insurance, as principal and as an insurer, to persons in Singapore, from outside of Singapore; or
use the word “insurance” or any of its derivatives in any language, or any other word, indicating that it carries on insurance business in Singapore,
or make any representation to such effect in any bill head, letter paper, notice, advertisement or in any other manner.
25. A contravention of any requirement of the Act or these Regulations does not affect the validity or enforceability of any policy.