Clause 28

by inserting, immediately after subsection (1), the following subsection:“(1A) The Authority may, in accordance with the provisions of the Companies Act (Cap. 185), present a petition for the winding up of an insurer registered under this Act if the insurer has contravened or failed to comply with any provision of this Act.”;

by deleting the word “Minister” in subsection (4) and substituting the word “Authority”; and

by deleting subsection (7) and substituting the following subsection:“(7) References in this section to an insurer registered under this Act shall extend also to a Singapore insurer which has ceased to be so registered but remains under any liability in respect of Singapore policies or offshore policies.”.