Funeral Benefit Business Act 1982
sec.45Where assets more than sufficient to meet liabilities
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sec.45 Where assets more than sufficient to meet liabilities
If from the valuation it appears to the State actuary that the assets are more than sufficient to meet the liabilities, the State actuary shall state in the report— the apparent cause and the nature and extent of the surplus; and the nature and extent of the changes in respect of the funeral benefit business that will be necessary to enable the surplus to be reduced or eliminated; and the registrar, upon the recommendation of the State actuary and, if the registrar thinks fit, after discussion with the corporation, may direct the corporation to effect such changes or take such action in respect of the business as the registrar may specify. (sec.45-ssec.1) If from the valuation it appears to the State actuary that the assets are more than sufficient to meet the liabilities, the State actuary shall state in the report— the apparent cause and the nature and extent of the surplus; and the nature and extent of the changes in respect of the funeral benefit business that will be necessary to enable the surplus to be reduced or eliminated; and the registrar, upon the recommendation of the State actuary and, if the registrar thinks fit, after discussion with the corporation, 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 surplus; and
- (b) the nature and extent of the changes in respect of the funeral benefit business that will be necessary to enable the surplus to be reduced or eliminated;