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On 02/10/2016, you requested the version in force on 02/10/2016 incorporating all amendments published on or before 02/10/2016. The closest version currently available is that of 05/07/2016.
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Approval of captive insurer
3A.
—(1)  The Minister or such person as he may appoint may, upon application by any captive insurer and if he considers it expedient in the public interest to do so, during the period from 17th February 2006 to 31 March 2018, approve the insurer as an approved captive insurer.
[S 320/2016 wef 16/02/2011]
(2)  Any approval under paragraph (1) shall be for such period not exceeding 10 years as the Minister or such person as he may appoint may specify.
[S 81/2009 wef 17/02/2006]
(3)  No approval under paragraph (1) may be given unless, at the time of such approval, at least one aspect of each of the following functions of the captive insurer is undertaken by a company incorporated in Singapore or by personnel located in Singapore who are employed by a company incorporated outside Singapore:
(a)
compliance with any requirement, and with any direction, notice or other document issued, under the Insurance Act (Cap. 142) and the Monetary Authority of Singapore Act (Cap. 186);
(b)
compliance with any requirement relating to financial accounting, auditing and reporting under the Companies Act (Cap. 50);
(c)
the day-to-day management of the captive insurer’s business.
[S 320/2016 wef 05/08/2014]
History for Provision '3A Approval of captive insurer'.
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pr3A-.
01/04/2008
Formal Consolidation
01 April 2008
SL
748/2010
Compare versionsDiff

16/02/2011
Informal Consolidation
05 July 2016
Amended
S 320/2016

13/08/2013
Informal Consolidation
13 August 2013
Amended
S 519/2013

05/08/2014
Informal Consolidation
05 July 2016
Amended
S 320/2016

05/07/2016
Informal Consolidation
05 July 2016
Amended
S 320/2016