Clause 20

by inserting, immediately after the words “cancel the registration” in subsection (1), the words “, or by section 12A to withdraw the authorisation,”;

by inserting, immediately after the words “registered insurer” in subsection (3), the words “or an authorised reinsurer”;

by deleting subsection (5) and substituting the following subsection:“(5) In this section —

any reference to a domestic liability of a registered insurer is a reference to a liability of the insurance business carried on by the insurer in Singapore, including the liability to satisfy the fund solvency requirements and capital adequacy requirements prescribed under section 18; and

any reference to a domestic liability of an authorised insurer is a reference to any liability incurred by the authorised reinsurer as a result of carrying on the business of providing reinsurance of liabilities under insurance policies to persons in Singapore.”; and

by inserting, immediately after the words “this Act” in subsection (7), the words “or any direction of the Authority”.