Singapore legislation
Section 46
Section 46
Deposits by authorised reinsurers
(1)
Every authorised reinsurer must maintain a reinsurance deposit of a value of such amount as the Authority may prescribe for the purposes of this section in respect of each class of business for which it is authorised.
(2)
A deposit under subsection (1) must be made in such form and manner, and in assets of such nature, as may be prescribed or specified in directions by the Authority for the purposes of this section.
(3)
All income accruing in respect of a deposit under subsection (1) is payable to the authorised reinsurer making the deposit.
(4)
The Authority may, in relation to a deposit under subsection (1), prescribe —
the rights and obligations of any party in relation to the deposit; and
any other matter which the Authority considers to be incidental to or necessary for this section.[34D