Funeral Benefit Business Act 1982
sec.21Where assets insufficient to meet liabilities
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sec.21 Where assets insufficient to meet liabilities
If from the valuation it appears to the State actuary that the assets are insufficient to meet the liabilities, the State actuary shall inform the registrar who shall notify the corporation in writing, pointing out— the apparent cause and the nature and extent of the deficiency; and the nature and extent of the changes in respect of the funeral benefit business that will be necessary to ensure that the assets will be sufficient to meet the liabilities; and, upon the recommendation of the State actuary, the registrar may direct the corporation to effect such changes or take such action in respect of the business as the registrar may specify.
- (a) the apparent cause and the nature and extent of the deficiency; and
- (b) the nature and extent of the changes in respect of the funeral benefit business that will be necessary to ensure that the assets will be sufficient to meet the liabilities;