Singapore legislation
Clause 21
Clause 21
Premium contributions payable by Scheme members
(1)
Every Scheme member shall, from the effective date appointed under section 30(5), pay a premium contribution for any premium year or part thereof in respect of the insured deposits placed with the Scheme member.
(2)
Subject to the provisions of this Act, the premium contribution shall be of an amount computed by the Authority under section 22.
(3)
The premium year shall be such period as may be prescribed in regulations.
(4)
The Authority may make regulations for the purpose of prescribing the premium year.