Singapore legislation
Clause 25
Clause 25
Amendment of section 41
Section 41 of the Insurance Act is amended —
by inserting, immediately after the word “insurer” in the 2nd, 4th and 5th lines of subsection (1) and in the 1st line of subsection (3), the words “or insurance intermediary”;
by inserting, immediately after the word “insurer” in the 6th line of subsection (1), the words “or insurance intermediary, as the case may be”;
by inserting, immediately after the word “insurer” in subsection (1)(d), the words “or insurance intermediary, as the case may be,”;
by deleting the words “or 20” in subsection (1)(g) and substituting the words “, 20, 35ZC or 35ZD”; and
by deleting “$20,000” in the 3rd line, “6 months” in the 4th line and “$1,000” in the penultimate line of subsection (3) and substituting “$50,000”, “2 years” and “$5,000”, respectively.