Deposit Insurance and Policy Owners’ Protection Schemes Act 2011 · 2020 Revised Edition · Part 12 · Financial and Audit Provisions
78. Reporting to Minister
Feedback & supportIf the auditor in the course of the performance of his or her duties as an auditor of the Agency or the DI Fund, PPF Life Fund or PPF General Fund is satisfied that —
Agency
“Agency” means the company designated by the Minister under section 56 to be the deposit insurance and policy owners’ protection fund agency;
there has been a serious contravention of any provisions of this Act or the Companies Act 1967 or that an offence involving fraud or dishonesty has been committed; or
serious irregularities have occurred, including irregularities that jeopardise the interests of insured depositors or insured policy owners,the auditor must immediately report the matter in writing to the Minister.
insured policy
“insured policy” means —(a)any life policy;(b)any accident and health policy;(c)any compulsory insurance policy; or(d)any specified personal line insurance policy which is a Singapore policy;