In forceAmended2020 Revised EditionCurrent version · 2020 Revised EditionSee versions on Singapore Statutes Online(opens the publisher’s site)
Insurance Act 1966 · 2020 Revised Edition · Part 2 · Conduct of Insurance Business
12. Annual fees of licensed insurers
Feedback & supportAmended
Last amended by an amending law of 2013. 2 amendments in all.
(1)
Every licensed insurer must pay to the Authority such annual fees as may be prescribed.
licensed insurer
Defined · s 2
“licensed insurer” means an insurer which is for the time being licensed under section 11;
(2)
The Authority may prescribe different annual fees for different classes of insurance business or for different types of licensed insurers.
(3)
The Authority may, where it considers appropriate in a particular case, waive, refund or remit the whole or any part of any annual fee paid or payable under subsection (1).[11