Singapore legislation
Clause 31
Clause 31
New section 35TA
The Insurance Act is amended by inserting, immediately after section 35T, the following section:“Business conduct of insurance intermediaries35TA. Without prejudice to the generality of section 64(1) and (2), the Authority may make regulations or issue directions for or with respect to —
the standards to be maintained by an insurance intermediary in the conduct of business under this Act, including the standards in relation to the obligation to disclose information to insureds;
the qualifications, experience and training of an insurance intermediary and, where the insurance intermediary is a corporation or an association, of the officers, agents and employees of the insurance intermediary; and
the procedure for the conduct of disciplinary control of insurance intermediaries and, where the insurance intermediary is a corporation or an association, of the officers, agents and employees of the insurance intermediary.”.