Valuation of liabilities
18.—(1)  Unless otherwise provided for in this Part, a registered insurer shall value any liability of an insurance fund in accordance with the Accounting Standards and sound actuarial principles.
(2)  The Authority may, by notice in writing to a registered insurer, specify the bases, methodologies and other details of a technical nature to be complied with in relation to the determination of liabilities in respect of a policy and in respect of an insurance fund.