Singapore legislation
Clause 16
Clause 16
Repeal and re-enactment of section 19
Section 19 of the Insurance Act is repealed and the following section substituted therefor:“Form, investment and situation of assets
19. The Authority may prescribe or specify in directions, either generally or in such circumstances and to such extent as may be prescribed or specified —
(a)
the manner in which the assets of any insurance fund of a licensed insurer are to be invested and the places in which such assets are to be maintained; and
(b)
the nature of the assets that is appropriate in relation to the currency in which the liabilities of the insurer are or may be required to be met.”.