Singapore legislation

Clause 28

Amendment of section 35P

Section 35P of the Insurance Act is amended —

(a)

by inserting, immediately after the words “the person” in subsection (1), the words “all material information, including”;

(b)

by deleting the word “and” at the end of subsection (1)(b);

(c)

by deleting the full-stop at the end of paragraph (c) of subsection (1) and substituting the word “; and”, and by inserting immediately thereafter the following paragraph:“(d)such other information as the Authority may prescribe or specify in directions.”;

(d)

by inserting, immediately after the words “group policy” in the 4th line of subsection (2), the words “all material information, including”;

(e)

by deleting the word “and” at the end of subsection (2)(c);

(f)

by deleting the full-stop at the end of paragraph (d) of subsection (2) and substituting the word “; and”, and by inserting immediately thereafter the following paragraph:“(e)such other information as the Authority may prescribe or specify in directions.”;

(g)

by inserting, immediately after subsection (2), the following subsection:“(2A) Any insurance intermediary who contravenes subsection (1) or (2) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $25,000 or to imprisonment for a term not exceeding 12 months or to both.”; and

(h)

by deleting the word “Disclosure” in the section heading and substituting the words “Pre-contract disclosure”.

Read in full context — Insurance (Amendment) Bill →