FINANCIAL SERVICES A Clause Samples
FINANCIAL SERVICES A. INSURANCE: 1. Commitments in this subsector are undertaken in accordance with the Understanding on Commitments in Financial Services (the “Understanding”), subject to the limitations and conditions set forth in these headnotes and the schedule below.
FINANCIAL SERVICES A. Insurance and Insurance-related Services All the commitments in this Schedule are also subject to entry requirements, domestic laws, guidelines, rules and regulations, terms and conditions of the Monetary Authority of Singapore (MAS) or any other relevant authority or body in Singapore, as the case may be, which are consistent with Article VI of the GATS and paragraph 2 of the Annex on Financial Services of the GATS.
(a) Life insurance services including annuity, disability income, accident and health insurance services 1) Unbound 2) None 3) These measures are also limitations on national treatment. None except foreign parties can only acquire equity stakes of up to 49% in aggregate in locally- owned insurance companies provided the acquisition does not result in any foreign party being the largest shareholder; insurance companies must establish as branches or subsidiaries; and for activities relating to the use, including via investment, of monies from any social security, public retirement 1) Unbound 2) None 3) None Sector or Sub-sector Limitations on Market Access Limitations on National Treatment Additional Commitments or statutory savings scheme. 4) Unbound except as indicated in the horizontal section. 4) Unbound except as indicated in the horizontal section
(b) Non-life insurance services including disability income, accident and health insurance and contracts of fidelity bonds, performance bonds or similar contracts of guarantee 1) Unbound 2) None except that compulsory insurance of Motor Third Party Liability and Workmen's Compensation may only be purchased from licensed insurance companies in Singapore.
FINANCIAL SERVICES A. All insurance and insurance- related services (a) Direct insurance (life) including annuity, disability income, accident and health insurance services. (CPC 8121) (1) Unbound (1) Unbound
FINANCIAL SERVICES A. All insurance and insurance-related services (a) Direct insurance (life) including annuity, disability income, accident and health insurance services. (CPC 8121) 1) Unbound 2) None 3) Commercial presence is permitted only through insurance companies that are registered in Brunei Darussalam. 1) Unbound 2) None 3) None
FINANCIAL SERVICES A. Insurance 1) None 2) None 3) Off-shore companies cannot operate on the domestic market. A test of economic needs is applied for the establishment of branches and subsidiaries in the domestic market. 4) Unbound 1) None 2) None 3) None 4) A non-Aruban needs permission to become a director of a financial institution GATS/SC/5 Modes of supply: 1) Cross-border supply 2) Consumption abroad 3) Commercial presence 4) Presence of natural persons
FINANCIAL SERVICES A. Insurance and Insurance-Related Services