These guidelines apply to all insurers.

They set out the procedures which should be followed by insurers intending to apply for exemption from compliance with any provision of the Insurance Act 1966 ("the Act"), or any regulation or direction issued by MAS pursuant to the Act.

All applicants should submit the exemption application form in Annex 1 of these guidelines. Where there are statutory deadlines for any legislative requirements, the application form for exemption from such legislative requirements should reach MAS at least 28 working days before the statutory deadline.