Insurance Act 1966 · 2020 Revised Edition · Part 3C · Nomination of Beneficiaries
134. Register of nominees
Feedback & supportLast amended by an amending law of 2013. 2 amendments in all.
Every licensed insurer must maintain, in such manner as may be prescribed by the Authority and in accordance with such directions as may be issued by the Authority, a register of every person —
licensed insurer
“licensed insurer” means an insurer which is for the time being licensed under section 11;
who has been nominated under section 132(2) or 133(2) by the policy owner of a relevant policy issued by the licensed insurer; and
in respect of whom the licensed insurer has received written notice of the nomination in such manner as may be prescribed by the Authority for the purposes of this subsection.
Where —
any person nominated under section 132(2) has been registered by a licensed insurer under subsection (1);
the nomination of that person has been revoked under section 132(7); and
the licensed insurer has received written notice of the revocation of the nomination in such manner as may be prescribed by the Authority for the purposes of this subsection,the licensed insurer must record the revocation of the nomination under section 132(7) in its register maintained under subsection (1).
Where —
any person nominated under section 133(2) has been registered by a licensed insurer under subsection (1);
the nomination of that person has been or is deemed to be revoked; and
the licensed insurer has received written notice of the revocation of the nomination in such manner as may be prescribed by the Authority for the purposes of this subsection,the licensed insurer must record the revocation of the nomination in its register maintained under subsection (1).[49N