Commonwealth Consolidated Acts

[Index] [Table] [Search] [Search this Act] [Notes] [Noteup] [Previous] [Next] [Download] [Help]

LIFE INSURANCE ACT 1995 - SECT 93

Appointment

  (1)   Subject to subsection   (2), a life company must have an actuary appointed by the company.

  (2)   Within 6 weeks after a person ceases to be the appointed actuary of a life company, the company must appoint another person to be the actuary of the company.

  (3)   A life company must not appoint a person as the actuary of the life company unless:

  (a)   the life company is reasonably satisfied that the person meets the eligibility criteria set out in the prudential standards for appointment as the actuary of a life company; and

  (b)   no order is in force under section   245A that the person is disqualified from being or acting as an actuary of the life company.

  (7)   An appointment of a person as actuary of a life company cannot take effect while there is in force an appointment of another person as the company's actuary.


AustLII: Copyright Policy | Disclaimers | Privacy Policy | Feedback