10Actuary or actuaries to conduct periodic investigations into the Fund

#### 10 Actuary or actuaries to conduct periodic investigations into the Fund 10 Actuary or actuaries to conduct periodic investigations into the Fund > **s 10, hdg:** Rep 1971 No 7, sec 4 (1) (c) (i). > > > (1) Whenever necessary for the purposes of this section, STC must appoint one or more actuaries to conduct an investigation as to the state and sufficiency of the Fund. > > > (2) Such an investigation must be conducted— > > > > > (a) as at 30 June 1994, and > > > > > (b) as at 30 June in every subsequent third year. > > > (3) An actuary or actuaries appointed under subsection (1) must— > > > > > (a) complete such an investigation, and > > > > > (b) submit a report of the result of it to STC, > > > > not later than 6 months after the date as at which it is required to be conducted. > > > (3A) The report referred to in subsection (3) 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. > > > (4) STC must, not later than 1 month after it receives a report under subsection (3), forward the report to the Minister and may add to the report such comments as it thinks fit. > > > (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. > > > (6) The Minister may, in relation to a particular investigation, extend or further extend the period referred to in subsection (4) if the Minister considers that special circumstances exist to justify an extension or further extension. > > **s 10:** Am 1971 No 7, sec 4 (1) (c); 1983 No 21, Sch 4 (2). Subst 1988 No 133, Sch 1 (2). Am 1991 No 95, Sch 10 (3); 1993 No 111, Sch 6 (4); 1996 No 39, Sch 4; 1997 No 42, Sch 1.8 \[5\]; 1999 No 86, Sch 2.6 \[4\] \[5\].