18.—(1) Unless otherwise provided for in this Part, a licensed insurer shall value any liability of an insurance fund in accordance with the Accounting Standards and sound actuarial principles.
[S 233/2013 wef 18/04/2013]
(2) The Authority may, by notice in writing to a licensed 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.