Singapore legislation
Clause 18
of Deposit Insurance and Policy Owners’ Protection Schemes Bill
Clause 18
Refund of premium contributions, etc., paid in excess
(1)
Where it appears to the Authority that a DI Scheme member has paid any premium contribution or additional premium contribution in excess of the amount payable under this Act, the Authority shall notify the Agency accordingly.
(2)
Upon receipt of the notification referred to in subsection (1), the Agency shall refund to the DI Scheme member the amount of premium contribution or additional premium contribution paid in excess.