Notices
 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
View Notice IA/PP-N02.1a Bank Covenants in Lieu of Deposits (114.1 KB)

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]