8.—(1) The appointed actuary of a direct life insurer shall prepare a written report to the principal officer of the insurer on any matter which —
(a)
has come to the attention of the appointed actuary in the course of carrying out his duties;
(b)
in the opinion of the appointed actuary, has any material adverse effect on the financial condition of the insurer in respect of its life business; and
(c)
requires rectification by the insurer.
(2) The appointed actuary shall immediately send a copy of the report under paragraph (1) to the directors of the insurer.