Singapore legislation
Regulation 5
Regulation 5
Reduction in paid-up ordinary share capital or redemption of preference shares
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 incorporated in Singapore shall not reduce its paid-up ordinary share capital or redeem any preference share without the prior written approval of the Authority.
Subregulation 2
Amended byS 233/2013 wef 18/04/2013
A licensed insurer incorporated outside Singapore shall not reduce its paid-up ordinary share capital (or its equivalent recognised by the Authority as applicable to the insurer under the laws of the country or territory in which the insurer is incorporated, formed or established) without giving prior notice to the Authority.