Singapore legislation
Regulation 5B
Regulation 5B
Revocation of nomination on behalf of policy owner lacking capacity
Subregulation 1
This regulation applies where a policy owner of a relevant policy lacks capacity within the meaning of section 4 of the Mental Capacity Act 2008, and the court makes an order under section 20(2)(a) of the Mental Capacity Act 2008 in relation to the revoking, on the policy owner’s behalf, under section 132(7) or 133(4) of the Act, of any nomination under section 132(2) or 133(2) of the Act, as the case may be, made by the policy owner (before he or she lacked capacity) or by the court on the policy owner’s behalf.
Subregulation 2
The order must authorise a person (referred to in this regulation as the authorised person) to sign the form pertaining to the revocation of the nomination on the policy owner’s behalf.
Subregulation 3
Every form pertaining to the revocation under section 132(7) of the Act of a nomination under section 132(2) of the Act, on the policy owner’s behalf in pursuance of the order, shall —
state that it is signed by the policy owner acting by the authorised person;
be signed by the authorised person with the names of the policy owner and the authorised person;
be signed, in the presence of 2 witnesses (each being an individual who has attained the age of 21 years and is not a nominee or the spouse of a nominee, and each of whom shall also sign the form), by the authorised person and by —
any trustee of the policy moneys payable under the relevant policy (not being the policy owner); or
each nominee who has attained the age of 18 years and a parent or legal guardian (not being the policy owner) of each nominee who is below the age of 18 years; and
be sealed with the official seal of the court.
Subregulation 4
For the purposes of section 132(7) of the Act, a nomination under section 132(2) of the Act shall be revoked on the policy owner’s behalf in pursuance of the order by —
the completion of Form 2 in accordance with paragraph (3); and
the lodgment of that Form with the licensed insurer that issued the relevant policy.
Subregulation 5
Every form pertaining to the revocation under section 133(4) of the Act of a nomination under section 133(2) of the Act, on the policy owner’s behalf in pursuance of the order, shall —
state that it is signed by the policy owner acting by the authorised person;
be signed by the authorised person with the names of the policy owner and the authorised person;
be signed by the authorised person in the presence of 2 witnesses (each being an individual who has attained the age of 21 years and is not a nominee or the spouse of a nominee, and each of whom shall also sign the form); and
be sealed with the official seal of the court.
Subregulation 6
For the purposes of section 133(4) of the Act, a nomination under section 133(2) of the Act shall be revoked on the policy owner’s behalf in pursuance of the order by —
the completion of Form 5 in accordance with paragraph (5); and
the lodgment of that Form with the licensed insurer that issued the relevant policy.
Subregulation 7
Where a nomination under section 132(2) or 133(2) of the Act is revoked on the policy owner’s behalf in accordance with this regulation, the revocation has the same effect for all purposes as if —
the policy owner had the capacity to revoke the nomination; and
the nomination had been revoked by the policy owner in accordance with Part 3C of the Act and these Regulations.