Reg 18V omitted by SR No 213 of 1993, reg 14.1, effective 1 July 1992. Reg 18V formerly read:
18V(1)
The trustees of a fund may obtain the certificate of an actuary in respect of a period of 12 months if the actuary is not able to issue a certificate for the purposes of regulation 18U for a period of 5 years.
18V(2)
Subregulations 18U(1), (2) and (3) apply to a certificate issued under this regulation as if the references in paragraphs 18U(1)(a), (2)(a) and (b) and (3)(b) to a period of 5 years were a reference to the period of 12 months to which the certificate relates.
18V(3)
The trustees of a fund must give a copy of a certificate issued under this regulation and of the statement referred to in subregulation (4) to the employer of a member of the fund who contributes to the fund in respect of the member.
18V(4)
The statement accompanying the certificate must be signed by the actuary who issued the certificate and specify:
(a)
the reasons why he or she has not issued a certificate under regulation 18U; and
(b)
any action that, after having been taken by the trustees of the fund, the employer or another person specified in the statement, would enable the actuary to issue a certificate under regulation 18U.
18V(5)
Subject to subregulation (6), the trustees of a fund must obtain a certificate in respect of a period of 12 months not less than 3 months before the end of the period to which any current certificate in respect of a period of 12 months relates.
18V(6)
The trustees of a fund must not obtain a certificate in respect of a third, or subsequent, consecutive period of 12 months without the written approval of the Commissioner.
Reg 18V inserted by SR No 223 of 1992, reg 8.1, effective 1 July 1992.
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