Singapore legislation
Regulation 5
Regulation 5
Fees charged for administration of motor accident compensation moneys held in trust
Subregulation 1
There shall be paid to the Public Trustee, upon receipt of such amount payable to the Public Trustee under section 6 or 9 of the Motor Vehicles (Third-Party Risks and Compensation) Act 1960 in respect of death or bodily injury arising out of the use of a motor vehicle, which is to be held by the Public Trustee in trust in favour of a person who is entitled thereto, a fee charged on the amount received at the applicable rates set out below —
for the first $1,000 — 2.400%;
for the next $9,000 — 1.500%;
for the next $240,000 — 0.750%;
for the next $250,000 — 0.450%; and
for amounts in excess of $500,000 — 0.300%.
Subregulation 2
If at any time after the receipt of such amount referred to in paragraph (1), any additional amount is received under section 6 or 9 of the Motor Vehicles (Third-Party Risks and Compensation) Act 1960 in respect of the same death or bodily injury arising out of the use of a motor vehicle, there shall be paid to the Public Trustee in respect of the additional amount a further fee as would raise the total fees to the amount which would have been payable on the aggregate of all the amounts received under section 6 or 9 of that Act in respect of the same death or bodily injury arising out of the use of a motor vehicle.