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PART 2Administration

Actuarial valuations

Aggregate Scheme costs: revised certificates

63.  Where as a result of the valuation exercise under regulation 61 (aggregate Scheme costs) the Scottish Ministers amend these Regulations, an administering authority must consider whether the rates and adjustments certificate obtained under regulation 60(1)(c) (actuarial valuations of pension funds) should be revised to take account of the amendment; and if, in the authority’s view the certificate should be so revised—

(a)the authority must ensure that the certificate is revised accordingly and as soon as possible; and

(b)the revised certificate must cover the period beginning with 1st April in the second year following that in which the valuation date falls under regulation 60 (actuarial valuations of pension funds).