Measures used to quickly pass law blocking Income-Allianz deal ‘used sparingly’: Indranee

The hotly-debated deal between German insurer Allianz and Income Insurance was called off by the Government in October 2024 ST PHOTO: SHINTARO TAY

Ng Wei Kai

UPDATED Mar 03, 2025, 04:49 PM

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SINGAPORE – Under normal circumstances, laws like the one that allowed the Government to block the Allianz-Income deal in October 2024 would have gone to a select committee before being passed, said Minister in the Prime Minister’s Office Indranee Rajah.

But the situation was pressing, and that is why a certificate of urgency was issued, allowing the new law – known as the Insurance (Amendment) Bill – to be debated and passed on the same day, she told Parliament on March 3.

Such measures have been and will continue to be used sparingly, and only when necessary, Ms Indranee added.

“It is not that every day we have urgent certificates. In this particular instance, there was a need to do it quickly,” she said.

Ms Indranee was responding to a speech by Ms Sylvia Lim (Aljunied GRC), in which the Workers’ Party MP had argued that urgently passing the Bill without convening a select committee “may have dented the reputation of Parliament”.