Actuaries approved for purposes of section 37 of Act
10.—(1)  For the purposes of section 37 of the Act, the Authority may approve any person who is a Fellow of the Singapore Actuarial Society as an actuary for the purposes of any investigation referred to in section 37(1)(a) or (b) of the Act.
(2)  Nothing in paragraph (1) shall prevent the Authority from approving any other person as an actuary for the purposes of section 37 of the Act.
(3)  No registered insurer shall propose to the Authority a person to be approved for the purposes of an investigation referred to in section 37(1)(a) or (b) of the Act unless the insurer is satisfied that the person —
(a)is fit and proper to be so approved; and
(b)has the actuarial qualifications and experience to perform the investigation.
(4)  For the purpose of obtaining approval from the Authority for the purposes of section 37(1)(a) or (b) of the Act, the insurer shall submit to the Authority the particulars of the person proposed to be appointed in such form as the Authority may specify in directions issued under section 64(2) of the Act.
(5)  For the purposes of regulations 11 and 12, an actuary approved by the Authority as an appointed actuary of a direct life insurer under section 31 of the Act shall be taken to be the actuary approved by the Authority for the insurer for the purposes of an investigation referred to in section 37(1)(a) of the Act —
(a)for so long as he remains the appointed actuary; and .
(b)unless and until another actuary is approved for the purpose of section 37(1)(a) of the Act.