Close menu

Application provision

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

7.1

01/01/2016

A firm must:

  1. (1) appoint an appropriate actuary to carry out the triennial investigation and prepare an abstract of the report as required by IPRU(FSOC) rule 5.2(2) of the PRA Handbook as at 31 December 2015 and provide the interim certificate or statement as required by IPRU(FSOC) rule 5.2(3) of the PRA Handbook as at 31 December 2015; 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.