Singapore legislation
Clause 62
Clause 62
Amendment of section 55A
Section 55A of the Insurance Act is amended by deleting subsection (2) and substituting the following subsection:“(2) Subsection (1) shall not apply to any offence under this Act —
(a)
in respect of the breach of a duty imposed only on corporations; or
(b)
for which different penalties are prescribed in this Act (other than section 55(4)) for individuals and for other persons found guilty of the offence.”.