Clause 26
Amendment of section 154
of Financial Institutions (Miscellaneous Amendments) Bill
BillNot in forceProvision 25 of 111
Clause 26
In the Insurance Act 1966, in section 154(2) —
(a)
in paragraph (b), delete “and” at the end; and
(b)
replace paragraph (c) with —“(c)the corporate governance of insurers and insurance brokers;
(d)
the risk management of insurers, including the management of financial risk, conduct risk, operational risk and underwriting risk, in relation to the conduct of insurance business in Singapore; and
(e)
the risk management of insurance brokers, including the management of financial risk, conduct risk, operational risk and reputational risk, in relation to the conduct of insurance broking business in Singapore.”.