Singapore legislation
Clause 31
of Deposit Insurance and Policy Owners’ Protection Schemes Bill
Clause 31
Membership of PPF Scheme
(1)
Every relevant insurer which is not exempted under section 32 shall be a PPF Scheme member so long as it is registered by the Authority to carry on insurance business under the Insurance Act (Cap. 142).
(2)
Every relevant insurer which is registered to carry on insurance business under the Insurance Act immediately before the appointed day, shall be deemed to be a PPF Scheme member from that day.
(3)
Every relevant insurer which is registered to carry on insurance business under the Insurance Act on or after the appointed day, shall be a PPF Scheme member from the date on which it is registered.