Singapore legislation
Clause 12
of Deposit Insurance and Policy Owners’ Protection Schemes Bill
Clause 12
Premium contributions payable by DI Scheme members
(1)
Every DI Scheme member shall pay a premium contribution for any premium year or part thereof in respect of the insured deposits placed with the DI Scheme member.
(2)
Subject to the provisions of this Act, the premium contribution shall be of such amount as may be computed by the Authority under section 13.
(3)
The premium year for the DI Scheme shall be such period as may be prescribed in regulations under subsection (4).
(4)
The Authority may make regulations for the purpose of prescribing the premium year.