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Record of resolutions of the Life Insurance Actuarial Standards Board: actuarial standards - incorporating actuarial standards 1.04, 2.04, 3.04, 6.03 and 7.02 (05/12/2005)
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PART A – CONTRACT CLASSIFICATION AND POLICY LIABILITIES IN RESPECT OF LIFE INVESTMENT CONTRACTS
For the purposes of this Standard and reporting under the Act, policy liabilities in respect of life investment contracts are to be determined in accordance with the relevant accounting standards, subject to any available options being restricted to the fair value based options.