Singapore legislation
Clause 10
of Deposit Insurance and Policy Owners’ Protection Schemes (Amendment) Bill
Clause 10
Amendment of section 40
Section 40(1) of the principal Act is amended by deleting the words “insured policy owners or beneficiaries, or to fund any transfer or run‑off of the insurance business of any” and substituting the words “any covered party, to fund any transfer or run‑off of the insurance business of any failed PPF Scheme member, or to fund the termination of any insured policy issued by a”.