Singapore legislation
Section 45
Section 45
Premium
(1)
Every insured person must pay a premium of an amount prescribed by regulations made under this Part.
(2)
Despite anything in this Act, the Board is entitled to deduct the amount of the premium payable by an insured person from the contributions standing to the credit of that person in his or her ordinary and special accounts.
(3)
Where, by virtue of section 49A, the insurance cover of an insured person under the Scheme is being provided by an appointed insurer, the Board must pay the amount of the premium deducted under subsection (2) to that appointed insurer.
(4)
Where the amount of the premium which an insured person is liable to pay under the Scheme exceeds the amount standing to the person’s credit in the person’s ordinary and special accounts, the deficiency may be paid in either or both of the following manner:
the Board or the appointed insurer (as the case may be) may deduct the deficiency (in whole or in part) from any payment from the insured sum which the Board or the appointed insurer may make under the Scheme under section 49;
the deficiency may be paid in such other manner and within such time as the Board may determine.