Singapore legislation
Regulation 15
Regulation 15
Depositing security with Authority in lieu of liability insurance
Subregulation 1
The Authority may, if satisfied that the specified person for an approved trial or approved special use had made reasonable efforts to obtain the liability insurance under rule 14 but is unable to do so, allow the specified person to deposit with the Authority, a security deposit of not less than $1.5 million.
Subregulation 2
The Authority may determine the manner of the making of the security deposit.
Subregulation 3
The Authority may use the security deposit made by the specified person for an approved trial or approved special use —
to satisfy any order of court for the payment of a sum of money by the specified person to any person in relation to any death, bodily injury or damage to property, of a person that is caused by, or that arose out of, the use of an autonomous motor vehicle during the approved trial or approved special use; or
to pay such sum of money as may be agreed between the specified person and any person in relation to any death, bodily injury or damage to the property, of a person that is caused by, or that arose out of, the use of an autonomous motor vehicle during the approved trial or approved special use.
Subregulation 4
If the security deposit made by the specified person for an approved trial or approved special use, or part of the deposit, is used by the Authority for any purpose mentioned in paragraph (3), the specified person must replace the security deposit so used within 14 days (or such longer period as the Authority may allow) after being notified of such use by the Authority.