Singapore legislation
Clause 14
of Deposit Insurance and Policy Owners’ Protection Schemes Bill
Clause 14
Notice of payment of premium contribution
(1)
Where the Authority has computed the amount of premium contribution payable by any DI Scheme member for any premium year or part thereof under section 13(2), the Authority shall notify the Agency accordingly.
(2)
Upon receipt of the notification referred to in subsection (1), the Agency shall, within a reasonable time prior to the date on which the DI Scheme member is required to pay its premium contribution under the DI Scheme for that premium year or part thereof, give the DI Scheme member notice in writing of the amount of premium contribution payable and the date by which such premium contribution shall be paid.