Regulation 1
Citation and commencement
These Regulations are the Deposit Insurance and Policy Owners’ Protection Schemes (Withdrawal from DI Fund in Support of Resolution Measures) Regulations 2022 and come into operation on 31 January 2022.
/akn/sg/act/sub_leg/2011/DIPOPSA-S59-2022
Deposit Insurance and Policy Owners’ Protection Schemes (Withdrawal from DI Fund in Support of Resolution Measures) Regulations 2022
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- Type
- Subsidiary Legislation
- Status
- In force
- Enacted
- 2011
- Sections
- 4
Quick answer
About this subsidiary legislation
Deposit Insurance and Policy Owners’ Protection Schemes (Withdrawal from DI Fund in Support of Resolution Measures) Regulations 2022 is Singapore Subsidiary Legislation, cited as Subsidiary Legislation DIPOPSA-S59-2022 2011, currently marked in force and first recorded in 2011.
Regulation 2
Determination of amounts for purposes of section 29A(2) of Act
For the purposes of section 29A(2) of the Act, the Authority may appoint an independent valuer to conduct a valuation, in accordance with regulation 3, to determine the amounts that the Agency would have been repaid from or out of the assets of the DI Scheme member under section 27 of the Act.
Regulation 3
Principles for conducting valuation
Amended byS 402/2024 wef 10/05/2024
An independent valuer appointed under regulation 2 must conduct the valuation in accordance with the following valuation principles, and any other valuation principles that the Authority may, by written notice given to the independent valuer, specify:
(a)
the valuation must not take into account any financial support or assistance provided to the DI Scheme member by the Government, a body corporate established or constituted by or under a public Act for the purposes of a public function or a public officer, other than any financial support that is provided in the ordinary course of business;
(b)
the valuation must be made on the assumption that the DI Scheme member is not the subject of any resolution measure under Division 2, 4, 5, 6 or 9 of Part 8 of the Financial Services and Markets Act 2022;
(c)
the valuation must be made on the assumption that the DI Scheme member is wound up under Parts 8 and 9 of the Insolvency, Restructuring and Dissolution Act 2018 or by a liquidator appointed under section 250 of that Act.
Regulation 4
Submission of valuation report
An independent valuer must submit a valuation report to the Authority specifying the following information:
(a)
the independent valuer’s assessment of the amounts that the Agency would have been repaid from or out of the assets of the DI Scheme member under section 27 of the Act;
(b)
an explanation of the key methodologies and assumptions adopted by the independent valuer in making the assessment in paragraph (a), the reasons for their adoption, and the sensitivity of the assessment to these methodologies and assumptions;
(c)
any source of uncertainty in the valuation that is inherent in the independent valuer’s assessment.
Common questions
- What is Deposit Insurance and Policy Owners’ Protection Schemes (Withdrawal from DI Fund in Support of Resolution Measures) Regulations 2022?
- Deposit Insurance and Policy Owners’ Protection Schemes (Withdrawal from DI Fund in Support of Resolution Measures) Regulations 2022 is Singapore Subsidiary Legislation, cited as Subsidiary Legislation DIPOPSA-S59-2022 2011, currently marked in force and first recorded in 2011.
- Is Deposit Insurance and Policy Owners’ Protection Schemes (Withdrawal from DI Fund in Support of Resolution Measures) Regulations 2022 still in force?
- Yes — Deposit Insurance and Policy Owners’ Protection Schemes (Withdrawal from DI Fund in Support of Resolution Measures) Regulations 2022 is currently in force.
- When did Deposit Insurance and Policy Owners’ Protection Schemes (Withdrawal from DI Fund in Support of Resolution Measures) Regulations 2022 take effect?
- Deposit Insurance and Policy Owners’ Protection Schemes (Withdrawal from DI Fund in Support of Resolution Measures) Regulations 2022 was first recorded in 2011.
- How many regulations does Deposit Insurance and Policy Owners’ Protection Schemes (Withdrawal from DI Fund in Support of Resolution Measures) Regulations 2022 have?
- Deposit Insurance and Policy Owners’ Protection Schemes (Withdrawal from DI Fund in Support of Resolution Measures) Regulations 2022 contains 4 regulations.
- Where can I read the official version of Deposit Insurance and Policy Owners’ Protection Schemes (Withdrawal from DI Fund in Support of Resolution Measures) Regulations 2022?
- The official text of Deposit Insurance and Policy Owners’ Protection Schemes (Withdrawal from DI Fund in Support of Resolution Measures) Regulations 2022 is published at sso.agc.gov.sg.