In force2020 Revised EditionCurrent version · 2020 Revised EditionSee versions on Singapore Statutes Online(opens the publisher’s site)
Deposit Insurance and Policy Owners’ Protection Schemes Act 2011 · 2020 Revised Edition · Part 2 · Deposit Insurance Scheme
4. Reconstitution of Deposit Insurance Scheme
Feedback & supportFor the purposes of this Act, the Deposit Insurance Scheme continues and is reconstituted in accordance with this Act for the benefit of insured depositors in respect of their insured deposits placed with DI Scheme members.
deposit
Defined · s 2
“deposit” means a sum of money paid on terms —(a) under which it will be repaid, with or without interest or a premium, or with any consideration in money or money’s worth, either on demand or at a time or in circumstances agreed by or on behalf of the person making the payment and the person receiving it; and(b)which are not referable to the provision of property or services;