Singapore legislation
Regulation 13B
Regulation 13B
Recognition and valuation of assets
Amended byS 839/2018 wef 01/01/2019S 814/2004 wef 01/01/2005S 665/2010 wef 04/11/2010S 839/2018 wef 01/01/2019
Subregulation 1
Unless otherwise specified in this Part, a Service Company shall value an asset of an insurance fund in accordance with the Accounting Standards.
Subregulation 1A
Amended byS 839/2018 wef 01/01/2019
Unless otherwise specified in any direction issued under the Act, an asset of an insurance fund is to be recognised by a Service Company in accordance with the Accounting Standards.
Subregulation 2
Amended byS 814/2004 wef 01/01/2005S 665/2010 wef 04/11/2010
For the avoidance of doubt, assets comprised in the deposit made and maintained by the administrator under regulation 16 shall not be treated as assets of an insurance fund.