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Application provision

1.1 Unless otherwise stated, this Part applies to a non-directive insurer.

7.1

01/07/2016

A firm must:

  1. (1) appoint an appropriate actuary to carry out the triennial investigation and prepare the return required by Friendly Society – Reporting 2.1 and 2.2 and provide the certificate or statement required by Friendly Society – Reporting 2.3; and
  2. (2) appoint a replacement for that actuary if he ceases to hold office before he has carried out the duty described in (1).

7.2

01/01/2016

A firm must not appoint as appropriate actuary a person who is disqualified under Part XXII of FSMA (Auditors and Actuaries) from acting as an actuary either for that firm or for a relevant class of firm.