Insurance Act 1966 · 2020 Revised Edition · Part 2A · Foreign Insurer Schemes
52. Interpretation of this Part
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In this Part —“administrator” means an administrator appointed by the Authority under section 54 in respect of a foreign insurer scheme;“agent”, in relation to a foreign insurer, means an agent in respect of the carrying on of insurance business in Singapore by the foreign insurer, with authority to enter into contracts of insurance on behalf of the foreign insurer;“chief executive officer”, in relation to an administrator or an agent for any foreign insurer carrying on insurance business in Singapore under a foreign insurer scheme, means any person, by whatever name described, who is employed by the administrator or the agent (as the case may be) to be principally responsible for the management and conduct of its business.[35A
“administrator” means an administrator appointed by the Authority under section 54 in respect of a foreign insurer scheme;
foreign insurer scheme
“foreign insurer scheme” means any foreign insurer scheme established under section 53;
“agent”, in relation to a foreign insurer, means an agent in respect of the carrying on of insurance business in Singapore by the foreign insurer, with authority to enter into contracts of insurance on behalf of the foreign insurer;
foreign insurer
“foreign insurer” means an insurer which —(a)is authorised under the laws of a foreign country to carry on insurance business in that foreign country; but(b)is not licensed as an insurer under section 11 or authorised as a reinsurer under section 42;
“chief executive officer”, in relation to an administrator or an agent for any foreign insurer carrying on insurance business in Singapore under a foreign insurer scheme, means any person, by whatever name described, who is employed by the administrator or the agent (as the case may be) to be principally responsible for the management and conduct of its business.[35A
executive officer
“executive officer”, in relation to a licensed insurer, means any person, by whatever name described, who —(a)is in the direct employment of, or acting for or by arrangement with, the insurer; and(b)is concerned with or takes part in the management of the insurer on a day-to-day basis;