Singapore legislation
Regulation 5
Regulation 5
Ad hoc fee
Subregulation 1
A direct life insurer that requests for ad hoc services from the Authority, or a specified person, in relation to the web aggregator must pay to the Authority an ad hoc fee in connection with its usage of the web aggregator.
Subregulation 2
The ad hoc fee is calculated in accordance with the Second Schedule.
Subregulation 3
The Authority must not charge an ad hoc fee —
(a)
where the ad hoc services are requested to rectify an error that is not the fault of the direct life insurer; or
(b)
where no cost is incurred by the Authority in providing the ad hoc services.
Subregulation 4
An ad hoc fee payable under paragraph (1) must be paid to the Authority on or before the date specified in a written demand sent by the Authority to the direct life insurer.