In forceAmended2004 Revised EditionCurrent version · 2004 Revised EditionSee versions on Singapore Statutes Online(opens the publisher’s site)
5. Requirements for Service Company
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Last amended by an amending law of 2015. 2 amendments in all.
A person (other than a coverholder acting in accordance with the terms of a binding authority) must not act as an agent in Singapore for any member of Lloyd’s under these Regulations unless it is a company registered under the Companies Act (Cap. 50) and meets the following requirements:
(a)
the company must be registered with the administrator under regulation 6; and
(b)
the company must, unless the Authority otherwise permits, be —
(i)
a subsidiary of a managing agent at Lloyd’s; or
(ii)
a subsidiary of the holding company of a managing agent at Lloyd’s.