Deposit Insurance and Policy Owners' Protection Schemes (Designation of Deposit Insurance and Policy Owners' Protection Fund Agency) Notification 2011
Designates Singapore Deposit Insurance Corporation Limited as the agency set out under the Deposit Insurance and Policy Owners' Protection Schemes Act 2011. The scheme protects depositors and policy owners in case of a bank or insurer failure.
Sets out the requirements on levy rates, operational preparedness, maintenance of register and disclosure requirements concerning the Policy Owners' Protection Scheme. The scheme protects policy owners in case of an insurer failure.