S 471

INSURANCE ACT
(CHAPTER 142)
INSURANCE (EXEMPTION) REGULATIONS 2002

Regulation
  1.   Citation and commencement
  2.   Exemption in respect of securities lending arrangement
  3.   Deleted by S685/2003, wef 01/01/2004
  4.   Deleted by S685/2003, wef 01/01/2004
  4A. Deleted by S685/2003, wef 01/01/2004
  5.   Cancellation

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In exercise of the powers conferred by section 52 (1) of the Insurance Act, the Monetary Authority of Singapore hereby makes the following Regulations:

Citation and commencement
1.   These Regulations may be cited as the Insurance (Exemption) Regulations 2002 and shall come into operation on 1st October 2002.

Exemption in respect of securities lending arrangement
2.   Section 20 of the Act shall not apply in respect of the following:

(a) any loan of securities by an insurer under a securities lending arrangement where the securities that are loaned are assets of an insurance fund established by it; and

(b) any provision of collateral by an insurer under a securities lending arrangement where the insurer borrows securities and the collateral that is provided are assets of an insurance fund established by it.

Exemption in respect of registered insurance brokers
3.   Deleted by S685/2003, wef 01/01/2004

Exemption for introducing activities
4. Deleted by S685/2003, wef 01/01/2004

Exemption in respect of insurance broking premium accounts
4A. Deleted by S685/2003, wef 01/01/2004
 

Cancellation
5.   The Insurance (Exemption) Notification 2000 (G.N. No. S 577/2000) is cancelled.

Made this 11th day of September 2002.

KOH YONG GUAN
Managing Director,
Monetary Authority of Singapore.

[ID 05.1 V.29; AG/LEG/SL/142/2002/1 Vol. 1]