3-yearly investigation by actuary
79N 3-yearly investigation by actuary
The governing board must appoint an actuary for this Act.
Note For laws about appointments, see the Legislation Act, pt 19.3.
The actuary must conduct an investigation of the state and adequacy of the money of the authority—
if asked by the governing board; and
at least once every 3 years.
The actuary must report the results of the investigation to the governing board and state whether, in the actuary’s opinion, any reduction or increase is necessary in the rates of levies payable to the authority by employers or voluntary members under this Act.
The actuary must give the Minister a copy of each report under this section.
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