Singapore legislation
Clause 39
of Deposit Insurance and Policy Owners’ Protection Schemes Bill
Clause 39
Notice of payment of levy
(1)
Where the Authority has computed the amount of levy payable by any PPF Scheme member for any premium year or part thereof under section 38(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 PPF Scheme member is required to pay its levy under the PPF Scheme for that premium year or part thereof, give the PPF Scheme member notice in writing of the amount of levy payable and the date by which such levy shall be paid.