Insurance Act 1966 · 2020 Revised Edition · Part 2 · Conduct of Insurance Business
9. Registration of representative office
Feedback & supportLast amended by an amending law of 2013.
A person must not establish or operate a representative office unless the representative office is registered with the Authority.
representative
“representative”, in relation to a licensed financial adviser or exempt financial adviser, has the meaning given by the Financial Advisers Act 2001;
Any person who desires to establish and operate a representative office must —
apply in writing to the Authority for registration under this section; and
provide any information or document that the Authority may require.
The Authority must refuse to register a representative office unless —
the applicant is a company, or a company incorporated outside Singapore; and
the applicant satisfies such criteria as may be determined by the Authority.
The Authority may register a representative office subject to any conditions that it considers necessary, and the registered person must comply with the conditions of registration imposed by the Authority under this section.
The Authority may at any time add to, vary or revoke any condition of registration, or impose a condition of registration.
Every registered person must provide any information or document that the Authority may require from time to time.
The Authority may cancel the registration of a representative office if the registered person contravenes —
any condition of registration imposed by the Authority; or
any provision of this Act.
Any person who contravenes subsection (1) or (6), fails to comply with any condition of registration imposed by the Authority under subsection (4) or (5), or operates a representative office which has had its registration cancelled by the Authority under subsection (7), shall be guilty of an offence and shall be liable on conviction —
in the case of an individual, to a fine not exceeding $50,000 or to imprisonment for a term not exceeding 2 years or to both and, in the case of a continuing offence, to a further fine not exceeding $5,000 for every day or part of a day during which the offence continues after conviction; or
in any other case, to a fine not exceeding $100,000 and, in the case of a continuing offence, to a further fine not exceeding $10,000 for every day or part of a day during which the offence continues after conviction.
In this section, unless the context otherwise requires —
“registered person” means a person whose representative office is registered with the Authority under this section;
“representative office” means an office in Singapore established —
by a person who —
intends to carry on insurance business in Singapore; and
insurance business in Singapore
“insurance business in Singapore” means the business of assuming risk or undertaking liability in Singapore under policies, and of —(a)receiving proposals for policies in Singapore;(b)issuing policies in Singapore; or(c)collecting or receiving premiums on policies in Singapore,but does not include such businesses or activities, such class of businesses or activities, or such businesses or activities carried on by such persons or class of persons, as the Authority may prescribe;
is not an authorised reinsurer, and does not carry on any insurance business or any other business in Singapore; and
to carry out liaison work, market research or feasibility studies for the use of that person.[6A