Insurance Act 1966 · 2020 Revised Edition · Part 3 · Returns, Inspections and Investigations, Winding Up and Transfers of Business
108. Interpretation of sections 102 to 107
Feedback & supportLast amended by an amending law of 2013. 2 amendments in all.
In sections 102 to 107, unless the context otherwise requires —“business” includes affairs and property;“office-holder”, in relation to a licensed insurer, means any person acting in relation to the insurer as its liquidator, provisional liquidator, receiver, receiver and manager or an equivalent person;“property” includes property, right and power of every description;“relevant business” means any business of a licensed insurer —
licensed insurer
“licensed insurer” means an insurer which is for the time being licensed under section 11;
which the Authority has assumed control of under section 102; or
in relation to which a statutory manager has been appointed under section 102;“relevant person” means a licensed insurer or an insurance intermediary;“statutory manager” means a statutory manager appointed under section 102.[41F
insurance intermediary
“insurance intermediary” means a person who, as an agent for one or more insurers or as an agent for insureds or intending insureds, arranges contracts of insurance in Singapore, and includes an insurance agent or an insurance broker;
“business” includes affairs and property;
“office-holder”, in relation to a licensed insurer, means any person acting in relation to the insurer as its liquidator, provisional liquidator, receiver, receiver and manager or an equivalent person;
“property” includes property, right and power of every description;
“relevant business” means any business of a licensed insurer —
which the Authority has assumed control of under section 102; or
in relation to which a statutory manager has been appointed under section 102;
“relevant person” means a licensed insurer or an insurance intermediary;
“statutory manager” means a statutory manager appointed under section 102.[41F