Singapore legislation

Section 27

of Deposit Insurance Act

Section 27

Refund of premium contributions paid in excess

(1)

Where it appears to the Authority that a Scheme member has paid premium contribution in excess of the amount payable under this Act, the Authority shall notify the Agency accordingly.

(2)

Upon receipt of the notification referred to in subsection (1), the Agency shall refund to the Scheme member the amount of premium contribution paid in excess.