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Contents

Long Title

Part I PRELIMINARY

Part II CONDUCT OF INSURANCE BUSINESS

Division 1 — General restriction on insurers

Division 2 — Licensed insurers

Division 3 — Authorised reinsurers

Part IIA FOREIGN INSURER SCHEMES

Part IIB INSURANCE INTERMEDIARIES

Division 1 —  General provisions relating to insurance intermediaries

Division 2 —  Conduct of insurance broking business

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

Division 1 — Returns

Division 2 — Inspections and Investigations

Division 3 — Powers where licensed insurer or insurance intermediary is unable to meet obligations, etc.

Part IIIA ASSISTANCE TO FOREIGN REGULATORY AUTHORITIES

Part IIIAA TRANSFER OF BUSINESS AND SHARES, RESTRUCTURING OF LICENSED INSURER AND WINDING UP

Division 1 — Voluntary transfer of business

Division 2 — Compulsory transfer of business

Division 3 — Compulsory transfer of shares

Division 4 — Power to restructure capital

Division 5 — Winding up

Division 6 — Miscellaneous

Part IIIB APPEALS

Part IIIC NOMINATION OF BENEFICIARIES

Part IV MISCELLANEOUS AND GENERAL

Division 1 — Administration and enforcement

Division 2 —  Miscellaneous amendments of law

Division 3 —  Supplementary

FIRST SCHEDULE Definition of Insurance Terms

SECOND SCHEDULE Specified Provisions

Legislative History

Comparative Table

 
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On 07/07/2015, you requested the version in force on 07/07/2015 incorporating all amendments published on or before 07/07/2015. The closest version currently available is that of 01/07/2015.
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Register of policies
16.
—(1)  Every licensed insurer shall establish and keep —
(a)
a register of Singapore policies where it carries on business relating to Singapore policies; and
(b)
a register of offshore policies where it carries on business relating to offshore policies.
[11/86]
[Act 11 of 2013 wef 18/04/2013]
(2)  Subject to this section, there shall be entered in the register of Singapore policies all Singapore policies of the insurer and in the register of offshore policies all offshore policies of the insurer, and no policy entered in any register shall be removed from it so long as the insurer is under any liability in respect of that policy.
[11/86]
(3)  Subject to this section, there may be entered in the register of Singapore policies such other policies as the insurer, with the consent (express or implied) of the policy owners, may determine, and this Act shall apply in relation to any policy so entered as if it were a Singapore policy.
[11/86]
(4)  Subject to subsection (5), an insurer carrying on life business outside Singapore (and not doing so only by the collection or receipt of premiums) may, at the request of the policy owner of a policy belonging to the insurer’s life business —
(a)
refrain from entering the policy in the register of Singapore policies, notwithstanding that it is a Singapore policy; or
(b)
remove the policy from the register of Singapore policies,
and this Act shall thereafter apply in relation to the policy as if it were not a Singapore policy.
[11/86]
(5)  Regulations may provide that subsection (3) or (4) shall apply only in such cases as may be prescribed or shall have effect subject to any prescribed exceptions or restrictions.
[11/86]
(6)  A Singapore insurer shall, at the request of any person having an interest in any policy of the insurer, inform him whether or not the policy is entered in any register of policies established by the insurer under this Act.
[11/86]
(7)  Where a Singapore insurer has established under this Act any register of policies, the register shall cease to exist as a statutory register under this Act of policies belonging to either class of insurance business, if the insurer ceases to be licensed under this Act in respect of that class of business; and any reference in this Act to policies registered under this Act shall be construed accordingly.
[11/86]
[Act 11 of 2013 wef 18/04/2013]
(8)  Subject to subsection (7), any register of policies established by a Singapore insurer shall, notwithstanding that the insurer at any time ceases to carry on in Singapore either class of insurance business, continue to be maintained by the insurer for policies belonging to that class so long as the insurer is under any liability in respect of those policies registered or required to be registered at that time.
[11/86]
(9)  No policies referred to in subsection (8) belonging to either class of insurance business shall be entered in the register under subsection (3) when the insurer is not carrying on that class of business in Singapore, or is doing so only by the collection or receipt of premiums.
[11/86]
(10)  A register of policies established and kept by an insurer under this section before 1st January 1987 shall be deemed to be a register of Singapore policies under subsection (1).
[11/86]
History for Provision '16 Register of policies'.
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pr15-.
15/03/1994
Formal Consolidation
15 March 1994
1994 RevEd
 
pr16-.
01/07/2000
Formal Consolidation
01 July 2000
2000 RevEd
 

31/12/2002
Formal Consolidation
31 December 2002
2002 RevEd
 
Compare versionsDiff

01/01/2004
Informal Consolidation
09 December 2003
Amended
Act 24 of 2003

01/01/2004
Informal Consolidation
09 December 2003
Amended
Act 23 of 2003

23/08/2004
Informal Consolidation
09 December 2003
Amended
Act 23 of 2003

11/04/2005
Informal Consolidation
11 April 2005
Amended
Act 5 of 2005

30/01/2006
Informal Consolidation
06 June 2005
Amended
Act 21 of 2005

01/04/2006
Informal Consolidation
12 December 2005
Amended
Act 42 of 2005

01/04/2008
Informal Consolidation
27 February 2008
Amended
Act 5 of 2008

01/03/2009
Informal Consolidation
23 February 2009
Amended
Act 3 of 2009

31/03/2009
Informal Consolidation
31 March 2009
Amended
S 130/2009

01/09/2009
Informal Consolidation
23 February 2009
Amended
Act 3 of 2009

30/03/2010
Informal Consolidation
30 March 2010
Amended
S 184/2010

01/01/2011
Informal Consolidation
30 March 2010
Amended
S 184/2010

01/05/2011
Informal Consolidation
29 April 2011
Amended
Act 16 of 2011

18/04/2013
Informal Consolidation
17 April 2013
Amended
Act 11 of 2013

01/01/2014
Informal Consolidation
01 January 2014
Amended
Act 11 of 2013