Last Revised Date: 22 April 2013

IA/PP-N02.1a Bank Covenants in Lieu of Deposits

Requirements on a bank covenant that authorised reinsurers may lodge with MAS in lieu of a deposit.

Issued pursuant to:

Insurance Act (Cap. 142) section 34E(1) and section 64(2)

Applies to: Authorised Reinsurer

This notice applies to all authorised reinsurers.

In lieu of the deposit required under section 34D(1) of the Insurance Act (Cap.142), an authorised reinsurer may lodge with MAS a bank covenant that complies with the provisions of this Notice.

Amendment Notes

22 Apr 2013
IA/PP-N02.1a (Amendment) 2013 (67.1 KB)takes effect.

16 Jan 2006
IA/PP-N02.1a dated 16 Jan 2006 (26.6 KB) [Cancelled with effect from 22 April 2013]