s 45 Effects of withdrawal of authorisation
45.—(1) Where an order of withdrawal of the authorisation of a reinsurer under section 44 becomes effective —(a) the Authority must publish a notice of the withdrawal in the Gazette; and (b) the reinsurer must, as from the date of withdrawal, cease to carry on the business of providing reinsurance of liabilities under insurance policies to persons in Singapore wholly or of the class in respect of which its authorisation has been withdrawn, as the case may be.[11/2013] (2) Subsection (1)(b) does not prejudice —(a) the enforcement by any policy owner or person of any right or claim against the reinsurer or by the reinsurer of any right or claim against any policy owner or person; and (b) the collection or receipt of premiums on insurance policies effected before the date of withdrawal of the authorisation and belonging to the class of insurance business in respect of which the authorisation has been withdrawn, and section 4 does not apply to the reinsurer in respect of the collection or receipt of the premiums referred to in paragraph (b). [34C [11/2013]