PART IVSCHEME FUNDING
Scheme funding
Certification of technical provisions204
1
When an actuarial valuation is carried out, the calculation of the technical provisions must be certified by the actuary.
2
The certificate must state that in the opinion of the actuary the calculation is made in accordance with regulations under Article 201.
3
If the actuary cannot give the certificate required by paragraph (2) he must report the matter in writing to the Regulator within a reasonable period after the end of the period within which the valuation must be received by the trustees or managers.
4
Article 10 of the 1995 Order (civil penalties) applies to the actuary if he fails without reasonable excuse to comply with paragraph (3).