s 55 Carrying on of insurance business by foreign insurer under foreign insurer scheme
55.—(1) Where a foreign insurer scheme is established, each member of the class, society or association of foreign insurers specified in the scheme may, in accordance with the terms of the scheme, carry on such insurance business in Singapore as may be prescribed. (2) A foreign insurer must not carry on insurance business in Singapore under a foreign insurer scheme unless —(a) an administrator has been appointed for the scheme under section 54; and (b) the foreign insurer has, in accordance with regulations made under section 63, authorised the administrator or an agent or both (as the case may be) to accept service of notices and legal processes on the foreign insurer’s behalf. (3) A foreign insurer must not carry on insurance business in Singapore under a foreign insurer scheme if the foreign insurer is prohibited from so doing under section 57.[35D