Report of financial condition investigation to board of directors
12.—(1) The actuary approved for the purpose of an investigation into the financial condition of the life business of a direct life insurer under section 37(1)(a) of the Act shall for each accounting period of the insurer in respect of which the actuary is approved, submit to the directors of the insurer all reports on and all necessary documents relating to the investigation.
[S 883/2005 wef 31/12/2005]
(2) The actuary shall, where required by the directors of the insurer, explain any report or document submitted to them under paragraph (1).