Singapore legislation
Section 32
Section 32
Deposits in own right and joint accounts
(1)
Where an insured depositor holds an insured deposit in his own right, the insured depositor is entitled, in respect of the insured deposit as at the quantification date, to compensation from the Fund.
(2)
Where there are 2 or more insured depositors in respect of any insured deposit, each of those insured depositors is entitled, in respect of his share in the insured deposit as at the quantification date, to compensation from the Fund.
(3)
For the purposes of determining the share of an insured depositor in an insured deposit under subsection (2), each depositor holding such an insured deposit, whether or not he is an insured depositor, shall be deemed to have an equal share in the insured deposit unless there is an express provision to the contrary in the books of the failed Scheme member.
(4)
For the avoidance of doubt —
any insured deposit of a deceased person held in an estate account shall be treated as an insured deposit held by the deceased person in his own right; and
subsection (3) does not affect any rights as between the depositors themselves.