Regulatory Alerts2021-01-04
Added
Insurance (Approved Marine, Aviation and Transit Insurance Brokers and Approved Reinsurance Brokers) (Amendment) Regulations 2021
The Monetary Authority of Singapore issued the Insurance (Approved Marine, Aviation and Transit Insurance Brokers and Approved Reinsurance Brokers) (Amendment) Regulations 2021 to amend the First Schedule of the principal regulations. These regulations insert the United Kingdom as item 4, thereby approving it as a jurisdiction for approved marine, aviation, transit, and reinsurance brokers. The amendments are deemed to have come into operation on 1 January 2021 at 7 a.m. pursuant to powers conferred by the Insurance Act.
First published in the Government Gazette, Electronic Edition, on 4 January 2021 at 5 pm. No. S 2 INSURANCE ACT (CHAPTER 142) INSURANCE (APPROVED MARINE, AVIATION AND TRANSIT INSURANCE BROKERS AND APPROVED REINSURANCE BROKERS) (AMENDMENT) REGULATIONS 2021 In exercise of the powers conferred by sections 52(1A) and 64 of the Insurance Act, the Monetary Authority of Singapore makes the following Regulations: Citation and commencement
- These Regulations are the Insurance (Approved Marine, Aviation and Transit Insurance Brokers and Approved Reinsurance Brokers) (Amendment) Regulations 2021 and are deemed to have come into operation on 1 January 2021 at 7 a.m. Amendment of First Schedule
- The First Schedule to the Insurance (Approved Marine, Aviation and Transit Insurance Brokers and Approved Reinsurance Brokers) Regulations (Rg 14) is amended by inserting, immediately after item 3, the following item: “4. United Kingdom.”. [G.N. Nos. S 864/2018; S 764/2019; S 1096/2020] 1 S 2/2021
Made on 31 December 2020. RAVI MENON Managing Director, Monetary Authority of Singapore. [CMI IB 01/2021; AG/LEGIS/SL/142/2020/9 Vol. 1] S 2/2021 2