Singapore legislation
Regulation 8
of Deposit Insurance and Policy Owners’ Protection Schemes (Deposit Insurance) Regulations 2011
Regulation 8
Minimum premium contribution
Subregulation 1
Subject to paragraphs (2) and (3), for any premium year, a DI Scheme member shall pay a minimum premium contribution of $2,500.
Subregulation 2
In the case where —
a full bank or finance company becomes a DI Scheme member during the course of a premium year; or
an exemption from the requirement to be a DI Scheme member granted to a full bank or finance company pursuant to section 6 of the Act is withdrawn during the course of a premium year, the minimum premium contribution that that full bank or finance company, as the case may be, shall pay shall be pro-rated according to the number of months, or any part thereof, remaining for that premium year.
Subregulation 3
Where a DI Scheme member is a Scheme member under the repealed Act immediately before 1st May 2011, the minimum premium contribution that the DI Scheme member shall pay for the first premium year shall be pro-rated according to the number of months, or any part thereof, comprised in the first premium year.