Singapore legislation
Section 31
of Deposit Insurance and Policy Owners’ Protection Schemes Act 2011
Section 31
Membership of PPF Scheme
Amended by11/201311/201311/2013
(1)
Every relevant insurer which is not exempted under section 32 is a PPF Scheme member so long as it is licensed by the Authority to carry on insurance business under the Insurance Act 1966.
Amended by11/2013
(2)
Every relevant insurer which is licensed to carry on insurance business under the Insurance Act 1966 immediately before 1 May 2011, is deemed to be a PPF Scheme member from that date.
Amended by11/2013
(3)
Every relevant insurer which is licensed to carry on insurance business under the Insurance Act 1966 on or after 1 May 2011, is a PPF Scheme member from the date on which it is licensed.
Amended by11/2013