Singapore legislation
Clause 29
Clause 29
Amendment of section 35A
Section 35A of the Insurance Act is amended —
(a)
by inserting, immediately after the definition of “agent”, the following definition:“ “chief executive officer”, in relation to an administrator or an agent for any foreign insurer carrying on insurance business in Singapore under a foreign insurer scheme, means any person, by whatever name described, who is employed by the administrator or the agent, as the case may be, to be principally responsible for the management and conduct of its business.”; and
(b)
by deleting the definitions of “foreign insurer” and “foreign insurer scheme”.