Singapore legislation
Clause 34
Clause 34
Amendment of section 45
Section 45 of the principal Act is amended by deleting subsection (4) and substituting the following subsection:“(4) Where the amount of the premium which an insured person is liable to pay under the Scheme exceeds the amount standing to the person’s credit in the person’s ordinary and special accounts, the deficiency may be paid in either or both of the following manner:
(a)
the Board or the appointed insurer, as the case may be, may deduct the deficiency (in whole or in part) from any payment from the insured sum which the Board or the appointed insurer may make under the Scheme under section 49;
(b)
the deficiency may be paid in such other manner and within such time as the Board may determine.”.