sec.35Actuarial investigation of funds

sec.35 Actuarial investigation of funds

The authority must investigate the sufficiency of the authority’s funds and the adequacy of the rate of long service leave levy to be made— as at 1 July 1995; and afterwards, at intervals of not more than 2 years. An investigation must be made by an actuary. An actuary who makes an investigation— must finish the investigation, and report the outcome of the investigation to the authority, as soon as practicable after the date at which the investigation is made; and must express in the report an opinion about whether any reduction or increase should be made in the rate of long service leave levy. As soon as practicable after it receives the report, the authority must give the report to the Minister together with its recommendations on— the opinion expressed by the actuary under subsection (3) (b) ; and whether the funds available are adequate to carry out the authority’s functions. This section does not limit the authority’s ability to make other inquiries about the sufficiency of the authority’s funds and the adequacy of the rate of long service leave levy. s 35 sub 1994 No. 65 s 12 (sec.35-ssec.1) The authority must investigate the sufficiency of the authority’s funds and the adequacy of the rate of long service leave levy to be made— as at 1 July 1995; and afterwards, at intervals of not more than 2 years. (sec.35-ssec.2) An investigation must be made by an actuary. (sec.35-ssec.3) An actuary who makes an investigation— must finish the investigation, and report the outcome of the investigation to the authority, as soon as practicable after the date at which the investigation is made; and must express in the report an opinion about whether any reduction or increase should be made in the rate of long service leave levy. (sec.35-ssec.4) As soon as practicable after it receives the report, the authority must give the report to the Minister together with its recommendations on— the opinion expressed by the actuary under subsection (3) (b) ; and whether the funds available are adequate to carry out the authority’s functions. (sec.35-ssec.5) This section does not limit the authority’s ability to make other inquiries about the sufficiency of the authority’s funds and the adequacy of the rate of long service leave levy.

• (a) as at 1 July 1995; and
• (b) afterwards, at intervals of not more than 2 years.
• (a) must finish the investigation, and report the outcome of the investigation to the authority, as soon as practicable after the date at which the investigation is made; and
• (b) must express in the report an opinion about whether any reduction or increase should be made in the rate of long service leave levy.
• (a) the opinion expressed by the actuary under subsection (3) (b) ; and
• (b) whether the funds available are adequate to carry out the authority’s functions.