Singapore legislation
Clause 17
Clause 17
Amendment of section 56
Section 56 of the principal Act is amended —
(a)
by inserting, immediately after the definition of “determination”, the following definition:“ “guaranteed policy moneys” has the same meaning as in section 1A of the Insurance Act (Cap. 142);”; and
(b)
by deleting the definition of “transferee” and substituting the following definition:“ “transferee” means any person to which the whole or any part of a transferor’s business is, is to be, or is proposed to be transferred under this Division;”.