18Actuarial investigation

#### 18 Actuarial investigation 18 Actuarial investigation > > (1) An investigation as to the state and sufficiency of the funds established under this Act shall— > > > > > (a) as at the appointed day, and > > > > > (b) as at 30 June 1994 and at the end of each succeeding period of 3 years, > > > > be made by an actuary or actuaries appointed by STC. > > > (2) Actuaries appointed under this section shall complete their investigation, and shall report the result to STC, not later than 6 months after the date as at which the investigation is made. > > > (2A) The report referred to in subsection (2) must— > > > > > (a) include a statement of the value of the assets of the Fund, and > > > > > (b) include a statement of any liability for benefit payments that are not expected to be covered by— > > > > > > > (i) the assets of the Fund, or > > > > > > > (ii) any future contributions to, or earnings of, the Fund, or > > > > > > > (iii) any guarantee by the Government or by any of its agencies, or > > > > > > > (iv) an appropriation in respect of the Fund. > > > (3) STC shall, not later than 1 month after it receives a report under this section, forward the report to the Minister with such comments as it thinks fit. > > > (4) The Minister may, in relation to a particular investigation, extend or further extend the period referred to in subsection (2) if the Minister considers that special circumstances exist to justify an extension or further extension. > > > (5) The Minister may, in relation to a particular investigation, extend or further extend the period referred to in subsection (3) if the Minister considers that special circumstances exist to justify an extension or further extension. > > **s 18:** Am 1991 No 95, Sch 9 (2); 1993 No 111, Sch 5 (6); 1996 No 39, Sch 4; 1997 No 42, Sch 1.7 \[3\]; 1999 No 86, Sch 2.5 \[1\] \[2\].