# The Friendly Societies (Insurance Business) Regulations 1993, Regulation 35: Long term liabilities


The determination of the amount of long term liabilities (other than liabilities which have fallen due for payment before the valuation date) shall be made on actuarial principles and shall make proper provision for all liabilities on prudent assumptions in regard to the relevant factors; and the amount of the liability for each category of contract shall not be less than the amount calculated in accordance with regulations 36 to 45 below (which shall apply only to long term liabilities).

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Source: https://www.legislation.gov.uk/uksi/1993/98/regulation/35 (the official version)
Page: https://openlegislation.uk/friendly-societies-insurance-business-regulations-1993/regulation-35
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.