Clause 9

Subject to subsection (5), no person shall solicit any insurance business for any insurer other than —

a licensed insurer;

an authorised reinsurer;

a foreign insurer carrying on insurance business in Singapore under a foreign insurer scheme; or

any other insurer entitled to carry on insurance business in Singapore.(2) Subject to subsection (5), a person who solicits any insurance business for a licensed insurer or an insurer referred to in subsection (1)(d) —

shall only solicit in respect of the insurance business in Singapore of that insurer; and

shall not solicit in respect of the insurance business of —

any branch located outside Singapore of that insurer; or

where that insurer is incorporated, formed or established outside Singapore, its head office.(3) Any person who contravenes subsection (1) or (2) shall be guilty of an offence and shall be liable on conviction —

in the case of an individual, to a fine not exceeding $125,000 or to imprisonment for a term not exceeding 3 years or to both and, in the case of a continuing offence, to a further fine not exceeding $12,500 for every day or part thereof during which the offence continues after conviction; or

in any other case, to a fine not exceeding $250,000 and, in the case of a continuing offence, to a further fine not exceeding $25,000 for every day or part thereof during which the offence continues after conviction.(4) A person whose business it is to publish or to arrange for the publication of advertisements shall not be guilty of an offence under subsection (3) if he proves that —

he received the advertisement for publication in the ordinary course of his business;

the matters contained in the advertisement were not, wholly or in part, devised or selected by him or by any person under his direction or control; and

he did not know and had no reason for believing that the publication of the advertisement would constitute an offence.(5) Subsections (1) and (2) shall not apply to such persons or class of persons as the Authority may prescribe, subject to such terms or conditions as the Authority may prescribe.(6) In this section, unless the context otherwise requires —“advertisement” means the dissemination or conveyance of information, or invitation or solicitation by any means or in any form, including by means of —

publication in a newspaper, magazine, journal or other periodical;

display of posters or notices;

circulars, handbills, brochures, pamphlets, books or other documents;

letters addressed to individuals, bodies corporate or bodies unincorporate;

photographs or cinematograph films; or

sound broadcasting, television, the Internet or other media,but does not include an advertisement issued outside Singapore that is made available —

in a newspaper, magazine, journal or other periodical published and circulating principally outside Singapore;

in a sound or television broadcast transmitted principally for reception outside Singapore; or

by any other means of broadcasting or communication principally for circulation or reception outside Singapore;“solicit”, in relation to insurance business —

means, whether in Singapore or elsewhere, offering to, inviting, or issuing any advertisement containing any offer or invitation to, the public or any section of the public in Singapore to enter into a contract of insurance; and

the reference to an advertisement in paragraph (a) includes an advertisement containing information which is, or might reasonably be presumed to be, intended to lead, directly or indirectly, to the entering into of a contract of insurance. (7) For the purposes of this section, in determining whether an offer, invitation or advertisement is made or issued to the public or any section of the public in Singapore, regard shall be had to such considerations as the Authority may prescribe.Registration of representative office6A.—

No person shall establish or operate a representative office unless the representative office is registered with the Authority.(2) Any person who desires to establish and operate a representative office shall —

apply in writing to the Authority for registration under this section; and

furnish such information or documents as the Authority may require.(3) The Authority shall refuse to register a representative office unless —

the applicant is a company, or a company incorporated outside Singapore; and

the applicant satisfies such criteria as may be determined by the Authority.(4) The Authority may register a representative office subject to such conditions as it considers necessary, and the registered person shall comply with the conditions of registration imposed by the Authority under this section.(5) The Authority may at any time add to, vary or revoke any condition of registration, or impose a condition of registration.(6) Every registered person shall furnish such information or documents as the Authority may require from time to time.(7) The Authority may cancel the registration of a representative office if the registered person contravenes —

any condition of registration imposed by the Authority; or

any provision of this Act.(8) Any person who contravenes subsection (1) or (6), fails to comply with any condition of registration imposed by the Authority under subsection (4) or (5), or operates a representative office which has had its registration cancelled by the Authority under subsection (7), shall be guilty of an offence and shall be liable on conviction —

in the case of an individual, to a fine not exceeding $50,000 or to imprisonment for a term not exceeding 2 years or to both and, in the case of a continuing offence, to a further fine not exceeding $5,000 for every day or part thereof during which the offence continues after conviction; or

in any other case, to a fine not exceeding $100,000 and, in the case of a continuing offence, to a further fine not exceeding $10,000 for every day or part thereof during which the offence continues after conviction.(9) In this section, unless the context otherwise requires —“registered person” means a person whose representative office is registered with the Authority under this section;“representative office” means an office in Singapore established —

by a person who —

intends to carry on insurance business in Singapore; and

is not an authorised reinsurer, and does not carry on any insurance business or any other business in Singapore; and

to carry out liaison work, market research or feasibility studies for the use of that person.”.