Certification of technical provisionsN.I.
This section has no associated Explanatory Memorandum
204.—(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).