4A. Disapplication of section 132 of Act

For the purposes of section 132(1)(c) of the Act, the following types of relevant policies are relevant policies to which section 132 (trust nomination) of the Act shall not apply:

any relevant policy that is a supplementary disability insurance policy;

[Deleted by S 813/2021 wef 01/11/2021]

any relevant policy that is a medisave‑approved plan;

any relevant policy purchased using funds from a person’s SRS account under the Supplementary Retirement Scheme.

In paragraph (1) —[Deleted by S 813/2021 wef 01/11/2021][Deleted by S 813/2021 wef 01/11/2021][Deleted by S 632/2015 wef 01/11/2015]

“medisave‑approved plan” has the same meaning as in regulation 2(1) of the MediShield Life Scheme (Private Medical Insurance Scheme) Regulations 2015 (G.N. No. S 623/2015);

“SRS account” has the same meaning as in section 2(1) of the Income Tax Act 1947;

“supplementary disability insurance policy” has the meaning given by regulation 2 of the CareShield Life and Long-Term Care (Supplement Scheme) Regulations 2020 (G.N. No. S 850/2020);

“Supplementary Retirement Scheme” means the Supplementary Retirement Scheme established by regulation 3 of the Income Tax (Supplementary Retirement Scheme) Regulations 2003 (G.N. No. S 30/2003).