C1Part II Regulation of Insurance Companies
Powers of intervention
C242 Actuarial investigations.
1
The F2Treasury may require a company which carries on long term business—
a
to cause the person who for the time being is its actuary under section 19(1) above or any corresponding enactment previously in force to make an investigation into its financial condition in respect of that business, or any specified part of that business, as at a specified date; F3and
b
to cause an abstract of that person’s report of the investigation to be made; F4. . .
F5c
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2
For the purposes of any investigation made in pursuance of a requirement under this section the value of any assets and the amount of any liabilities shall be determined in accordance with any applicable valuation regulations.
3
The form and contents of any abstract F6. . . made in pursuance of a requirement under this section shall be the same as for an abstract F6. . .made under section 18 above and subsection (2) of that section shall apply to an investigation made in pursuance of this section as it applies to an investigation to which subsection (1)(b) of that section relates.
4
F11F115
In subsection (4) above, the reference to the required copies, in relation to any abstract, is to —
a
three copies of the abstract, or
b
one printed copy of the abstract and one copy of it in a form approved for the purposes of this subsection by the F2Treasury.
F116
Where copies of any abstract are required under subsection (4) above to be deposited with the F2Treasury, one of the copies or, as the case may be, the printed copy shall be signed by the person required to sign copies of abstracts made under section 18 above which are deposited under section 22 above.
Pt. II (ss. 15-71) restricted (1.1.1993) by S.I. 1992/3218, reg65
Pt. II (ss. 15-71) extended (24.12.1996) by S.I. 1996/3011, reg. 3(1)(b), 10(1)