Prudential Regulation Authority Rulebook

1.1

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

1.2

Chapters 2 to 6 only apply to a long-term insurer other than:

(1) a registered friendly society; and

(2) an incorporated friendly society that is a flat rate benefits business friendly society.

1.3

Chapter 7 only applies to:

(1) a registered friendly society; and

(2) an incorporated friendly society that is a flat rate benefits business friendly society.

1.4

This Part applies to an actuary appointed under 2 or 7 or appointed under or as a result of a statutory provision other than in FSMA.

1.5

In this Part, the following definitions shall apply:

actuarial function

means the function of acting in the capacity of an actuary appointed by a firm under 2.1(1) to perform the duties set out in 5.

appropriate actuary

means an actuary appointed under 7.1

Chief Executive function

means the PRA controlled function CF3 in the table of PRA controlled functions in SUP 10B.4.3 R of the PRA Handbook, described more fully in SUP 10B.6.7 R of the PRA Handbook.

With-Profits Actuary function

means the function of acting in the capacity of an actuary appointed by a firm under 2.1(2) to perform the duties set out in 6.