Singapore legislation
Clause 34
Clause 34
Documents to be filed when scheme confirmed
(1)
Where by a scheme under section 32 of this Act insurance business of an insurer is transferred to another, the transferee shall within one month after the scheme takes effect, lodge with the Commissioner —
statements of the assets and liabilities of each insurer concerned as at the time immediately before the transfer, signed on behalf of the insurer and, in the case of the transferor, indicating whether the transfer is of the whole of the transferor’s business and, if not, the extent to which the transferor’s assets and liabilities relate to the business transferred;
a copy of the scheme as confirmed by the Court, and a certified copy of the order of the Court confirming the scheme;
copies of any actuarial or other reports upon which the scheme was founded (being reports made since a copy of the scheme was lodged under subsection (1) of section 33 of this Act); and
a statutory declaration made by the chairman of directors of the transferee, or by its principal officer in Singapore, fully setting forth every payment made or to be made to any person whatsoever on account of the transfer, and stating that, to the best of his belief, no other payment beyond those so set forth has been, or is to be, made on account thereof by or with the knowledge of any insurer concerned.In paragraph (d) of this subsection references to the making of a payment include references to the transfer of property or rights of any description.
(2)
On the confirmation of a scheme under section 32 of this Act each of the insurers concerned shall (unless it is an unincorporated company) file a copy of the scheme with the Registrar of Companies or, in the case of societies registered under the Co-operative Societies Ordinance (Cap. 17) with the Registrar under that Ordinance.