On 19/05/2013,
you requested for the version in force on 19/05/2013
incorporating all amendments published on or before 19/05/2013.
The closest version currently available is that of 29/04/2011.
17.
—(1) The Authority shall, within 6 months from the date of commencement of this Act (referred to in this section as the commencement date) —
(a)
refund the deposits retained by the Authority under the repealed section 14(4) of the Insurance Act in force immediately before that date to the Singapore insurers who made such deposits with the Authority under the repealed section 14(1) of the Insurance Act in force immediately before that date; and
(b)
terminate the bank covenants given under section 15 of the Insurance Act immediately in force before the commencement date to deposit with the Authority a specified sum in cash on account of the insurer’s deposit under the repealed section 14 of the Insurance Act in force immediately before that date.
(2) For a period of 2 years after the commencement date, the Minister may, by regulations published in the Gazette, prescribe such provisions of a savings or transitional nature consequent on the enactment of this Act, as he may consider necessary or expedient.