Section 78
Notice of cessation as appointed actuary
of Financial Services Act 2013
ActIn forceProvision 78 of 124
Section 78
(1)
Where a person ceases to be an appointed actuary of a licensed insurer under section 77, such person shall notify the Bank in writing of that fact and the reasons of such cessation not later than seven days from the date of such cessation.
(2)
Where a person ceases to be the appointed actuary of a licensed insurer under subsection (1), such insurer shall appoint another person as its appointed actuary under subsection 74(1) not later than such period as may be specified by the Bank from the date of the cessation.