Singapore legislation
Clause 4
Clause 4
Repeal and re-enactment of section 5A
Section 5A of the Insurance Act is repealed and the following section substituted therefor:“Annual fees5A.—
(1)
Every registered insurer shall pay to the Authority such annual fees as may be prescribed.(2) The Authority may prescribe different annual fees for different classes of insurance business or for different types of registered insurers.(3) The Authority may exempt wholly or in part any registered insurer from the payment of the annual fees prescribed under this section.”.