Singapore legislation

Clause 9

of Statutes (Miscellaneous Amendments) (No. 2) Bill

Clause 9

Amendment of Insurance Act

The Insurance Act (Cap. 142, 2002 Ed.) is amended —

(a)

by deleting sub-paragraphs (ii) and (iii) of section 12(10)(c) and substituting the following sub‑paragraph:“(ii)A is a body corporate that is, or a majority of the directors of which are, accustomed or under an obligation whether formal or informal to act in accordance with the directions, instructions or wishes of B;”;

(b)

by deleting sub-paragraphs (v) and (vi) of section 12(10)(c) and substituting the following sub‑paragraph:“(v)A is a subsidiary of B;”;

(c)

by deleting the word “corporation” in section 12(10)(c)(vii) and substituting the words “body corporate”; (d)by deleting the words “to (vi)” in section 12(10)(c)(vii) and substituting the words “, (iv) and (v)”;

(e)

by inserting the word “or” at the end of section 12(10)(c)(vii); (f)by deleting sub-paragraph (viii) of section 12(10)(c);

(g)

by deleting sub-paragraphs (ii) and (iii) of section 28(7)(c) and substituting the following sub‑paragraph:“(ii)A is a body corporate that is, or a majority of the directors of which are, accustomed or under an obligation whether formal or informal to act in accordance with the directions, instructions or wishes of B;”;

(h)

by deleting sub-paragraphs (v) and (vi) of section 28(7)(c) and substituting the following sub‑paragraph:“(v)A is a subsidiary of B;”;

(i)

by deleting the word “corporation” in section 28(7)(c)(vii) and substituting the words “body corporate”;

(j)

by deleting the words “to (vi)” in section 28(7)(c)(vii) and substituting the words “, (iv) and (v)”;

(k)

by inserting the word “or” at the end of section 28(7)(c)(vii); (l)by deleting sub-paragraph (viii) of section 28(7)(c);

(m)

by deleting sub-paragraphs (ii) and (iii) of section 34B(9)(c) and substituting the following sub‑paragraph:“(ii)A is a body corporate that is, or a majority of the directors of which are, accustomed or under an obligation whether formal or informal to act in accordance with the directions, instructions or wishes of B;”;

(n)

by deleting sub-paragraphs (v) and (vi) of section 34B(9)(c) and substituting the following sub‑paragraph:“(v)A is a subsidiary of B;”;

(o)

by deleting the word “corporation” in section 34B(9)(c)(vii) and substituting the words “body corporate”; (p)by deleting the words “to (vi)” in section 34B(9)(c)(vii) and substituting the words “, (iv) and (v)”;

(q)

by inserting the word “or” at the end of section 34B(9)(c)(vii); and

(r)

by deleting sub-paragraph (viii) of section 34B(9)(c).