Singapore Government
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Contents

Long Title

Part I PRELIMINARY

Part II CONDUCT OF INSURANCE BUSINESS

General restriction on insurers

Registration of Singapore insurers

Deposits, registers of policies and insurance funds

Miscellaneous requirements as to conduct of business

Part IIA FOREIGN INSURER SCHEMES

Part IIB INSURANCE INTERMEDIARIES

General

Conduct of Insurance Broking Business

Part III RETURNS, INSPECTIONS AND INVESTIGATIONS, WINDING UP AND TRANSFERS OF BUSINESS

Returns

Inspections and Investigations

Winding up

Transfers of business

Part IIIA ASSISTANCE TO FOREIGN REGULATORY AUTHORITIES

Part IIIB APPEALS

Part IV MISCELLANEOUS AND GENERAL

Administration and enforcement

Miscellaneous amendments of law

Supplementary

THE SCHEDULE Definition of Insurance Terms

Legislative History

Comparative Table

 
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On 31/07/2014, you requested the version as published on or before 31/07/2014.
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Prohibition relating to solicitation of insurance business and establishment of place of business or representative office
6.
—(1)  No person shall solicit any insurance business, other than reinsurance business, for an insurer who is not entitled to carry on that business in Singapore.
[30/99]
(2)  No person shall, without the written approval of the Authority, establish for an insurer who is not entitled to carry on insurance business in Singapore —
(a)
a place of business to solicit reinsurance business; or
(b)
a representative office.
[30/99]
(3)  Any person who contravenes subsection (1) or (2) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $50,000 or to imprisonment for a term not exceeding 3 years or to both and, in the case of a continuing offence, to a further fine not exceeding $5,000 for every day during which the offence continues after conviction.
[30/99; 41/2001]