Singapore legislation

Clause 24

of Monetary Authority of Singapore (Amendment) Bill

Clause 24

Amendment of section 67

Section 67(13) of the principal Act is amended by inserting, immediately after the word “void” in paragraph (l), the words “, except for (where the pertinent financial institution is an insurer licensed under the Insurance Act (Cap. 142)) any payment of claims to policy owners or claimants, other than policy owners who are related corporations of the pertinent financial institution”.

Read in full context — Monetary Authority of Singapore (Amendment) Bill →