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Change 1
As published
42 Actuarial investigations.
(1) The Treasury may require a company which carries on long term business—
(a) to cause the person who for the time being is its actuary under section 19(1) above or any corresponding enactment previously in force to make an investigation into its financial condition in respect of that business, or any specified part of that business, as at a specified date; and
(b) to cause an abstract of that person’s report of the investigation to be made; . . .
(c) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(2) For the purposes of any investigation made in pursuance of a requirement under this section the value of any assets and the amount of any liabilities shall be determined in accordance with any applicable valuation regulations.
(3) The form and contents of any abstract . . . made in pursuance of a requirement under this section shall be the same as for an abstract . . .made under section 18 above and subsection (2) of that section shall apply to an investigation made in pursuance of this section as it applies to an investigation to which subsection (1)(b) of that section relates.
(4) The required copies of any abstract . . . made in pursuance of a requirement under this section shall be deposited by the company with the Treasuryon or before such date as they may specify, . . ..
(5) In subsection (4) above, the reference to the required copies, in relation to any abstract, is to —
(a) three copies of the abstract, or
(b) one printed copy of the abstract and one copy of it in a form approved for the purposes of this subsection by the Treasury.
(6) Where copies of any abstract are required under subsection (4) above to be deposited with the Treasury, one of the copies or, as the case may be, the printed copy shall be signed by the person required to sign copies of abstracts made under section 18 above which are deposited under section 22 above.
Your change, as a redline
42 Actuarial investigations.
(1) The Treasury may require a company which carries on long term business—
(a) to cause the person who for the time being is its actuary under section 19(1) above or any corresponding enactment previously in force to make an investigation into its financial condition in respect of that business, or any specified part of that business, as at a specified date; and
(b) to cause an abstract of that person’s report of the investigation to be made; . . .
(c) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(2) For the purposes of any investigation made in pursuance of a requirement under this section the value of any assets and the amount of any liabilities shall be determined in accordance with any applicable valuation regulations.
(3) The form and contents of any abstract . . . made in pursuance of a requirement under this section shall be the same as for an abstract . . .made under section 18 above and subsection (2) of that section shall apply to an investigation made in pursuance of this section as it applies to an investigation to which subsection (1)(b) of that section relates.
(4) The required copies of any abstract . . . made in pursuance of a requirement under this section shall be deposited by the company with the Treasuryon or before such date as they may specify, . . ..
(5) In subsection (4) above, the reference to the required copies, in relation to any abstract, is to —
(a) three copies of the abstract, or
(b) one printed copy of the abstract and one copy of it in a form approved for the purposes of this subsection by the Treasury.
(6) Where copies of any abstract are required under subsection (4) above to be deposited with the Treasury, one of the copies or, as the case may be, the printed copy shall be signed by the person required to sign copies of abstracts made under section 18 above which are deposited under section 22 above.
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