Singapore legislation
Clause 37
of Deposit Insurance and Policy Owners’ Protection Schemes Bill
Clause 37
Levies payable by PPF Scheme members
(1)
Every PPF Scheme member shall, from the effective date appointed under section 46(5), pay a levy for any premium year or part thereof in respect of the insured policies issued by the PPF Scheme member.
(2)
Subject to the provisions of this Act, the levy shall be of such amount as may be computed by the Authority under section 38.
(3)
The premium year for the PPF Scheme shall be such period as may be prescribed in regulations under subsection (4).
(4)
The Authority may make regulations for the purpose of prescribing the premium year.