Consumer Protection (Fair Trading) (Regulated Financial Products and Services) Regulations 2009

In these Regulations —

For the purposes of the definitions of “MAS‑regulated financial products”, “MAS‑regulated financial services”, “regulated financial products” and “regulated financial services” in paragraph (1), a reference to a person regulated under a written law includes a person exempted from being licensed, approved or regulated under that written law.

For the purposes of section 5(3)(a) of the Act, a court may, in considering the reasonableness of the actions of a supplier of regulated financial products or services, take into account the inherent risks of the financial products or services supplied, if all relevant information concerning such risks has been provided to the consumer in good faith.

A supplier of regulated financial products or services is not taken to have engaged in an unfair practice by reason only that the following terms are included in an insurance contract supplied by the supplier:

In any action under section 6(1) of the Act involving an unfair practice relating to the supply of regulated financial products or services, the amount of the claim or the value of the subject matter for the purposes of section 6(2) is determined based on the aggregate amounts of the claims or the aggregate values of the subject matters (as the case may be) in —

For the purposes of paragraph (1), actions are taken to involve the same unfair practice if the unfair practice complained of in each action is established based on substantially the same facts.

In applying this regulation, a court may exclude in whole or in part the amount of the claim or value of the subject matter (as the case may be) in any of the other actions mentioned in paragraph (1) from being aggregated, if the court is satisfied that it would be just to do so in the circumstances of the case.