Singapore legislation
Regulation 3
of Merchant Shipping (Maritime Labour Convention) (Financial Security) Regulations 2017
Regulation 3
General requirement of financial security contract
A financial security contract must include a condition that the liability of the approved financial security provider under the financial security contract will not cease before the end of the period of validity of the financial security contract without the approved financial security provider first giving the Director at least 30 days’ prior notice in writing of the cessation of liability.