sec.43Actuarial investigation of funds

sec.43 Actuarial investigation of funds

At least every 2 years, but otherwise as required by the board, the authority must investigate the adequacy of— the authority’s funds; and the levy percentage prescribed by section 85 . For subsection (1) , the board must appoint a person (an actuary ) who is recognised as an actuary and is appropriately qualified to carry out the investigation. The actuary must— conduct the investigation and report the outcome of the investigation to the authority after the investigation is finished; and state in the report an opinion about whether the rate of levy should be reduced, increased or stay the same. As soon as practicable after the authority receives the report, the authority must give the report to the Minister with the authority’s recommendations on— the actuary’s stated opinion; and whether the funds available are adequate to perform the authority’s functions. This section does not limit the authority’s ability to make other inquiries about whether the authority’s funds and the levy percentage are adequate. (sec.43-ssec.1) At least every 2 years, but otherwise as required by the board, the authority must investigate the adequacy of— the authority’s funds; and the levy percentage prescribed by section 85 . (sec.43-ssec.2) For subsection (1) , the board must appoint a person (an actuary ) who is recognised as an actuary and is appropriately qualified to carry out the investigation. (sec.43-ssec.3) The actuary must— conduct the investigation and report the outcome of the investigation to the authority after the investigation is finished; and state in the report an opinion about whether the rate of levy should be reduced, increased or stay the same. (sec.43-ssec.4) As soon as practicable after the authority receives the report, the authority must give the report to the Minister with the authority’s recommendations on— the actuary’s stated opinion; and whether the funds available are adequate to perform the authority’s functions. (sec.43-ssec.5) This section does not limit the authority’s ability to make other inquiries about whether the authority’s funds and the levy percentage are adequate.

• (a) the authority’s funds; and
• (b) the levy percentage prescribed by section 85 .
• (a) conduct the investigation and report the outcome of the investigation to the authority after the investigation is finished; and
• (b) state in the report an opinion about whether the rate of levy should be reduced, increased or stay the same.
• (a) the actuary’s stated opinion; and
• (b) whether the funds available are adequate to perform the authority’s functions.