Singapore legislation
Regulation 13
Regulation 13
Cash and deposits
Amended byS 233/2013 wef 18/04/2013S 233/2013 wef 18/04/2013
Subregulation 1
Amended byS 233/2013 wef 18/04/2013
A licensed insurer shall value any cash or deposit with a financial institution, other than a negotiable certificate of deposit, at the nominal amount of such cash or deposit after deducting any amount deemed uncollectible from the financial institution.
Subregulation 2
Amended byS 233/2013 wef 18/04/2013
A licensed insurer shall value a negotiable certificate of deposit at its market value.