13Conditions

13 Conditions

(1) The licence may include the following conditions: (a) if requested in writing by the Commission to do so, the licensee must give to the Commission the information relating to the licensee’s operations under the Act that is specified in the request; (b) the licensee must lodge with the Commission, within 120 days after the end of each accounting period (or, if the Commission allows a longer period, within that period), a copy of the accounts required under the law of the place of the licensee’s incorporation for the accounting period; (c) the licensee must include and identify in the accounts mentioned in paragraph (b) provision for meeting the licensee’s accrued and contingent liability as at the end of the accounting period for claims made under the Act in the accounting period. (2) If the licence includes the condition mentioned in paragraph (1)(c), the licence must also include a condition that: (a) the provision mentioned in that paragraph must be consistent with a written evaluation, by an actuary, of the licensee’s accrued and contingent liability for the accounting period; and (b) the evaluation mentioned in paragraph (a) must be lodged with the Commission.