Part I

Trade Unions
Chapter III

Trade union administration

Members’ superannuation schemes

Examination of proposals for new scheme.
39
1
A trade union shall not begin to maintain a members’ superannuation scheme unless, before the date on which the scheme begins to be maintained—
a
the proposals for the scheme have been examined by an appropriately qualified actuary, and
b
a copy of a report made to the trade union by the actuary on the results of his examination of the proposals, signed by the actuary, has been sent to the Certification Officer.
2
The actuary’s report shall state—
a
whether in his opinion the premium or contribution rates will be adequate,
b
whether the accounting or funding arrangements are suitable, and
c
whether in his opinion the fund for the payment of benefits will be adequate.
3
A copy of the actuary’s report shall, on the application of any of the union’s members, be supplied to him free of charge.