Regulation 60 Annual actuarial investigation: prescribed societies

A friendly society which is an incorporated friendly society carrying on long term business, and is not a society to which section 37(2) of the 1992 Act applies, is prescribed for the purposes of section 46(1)(b) of the 1992 Act and accordingly shall, once in every period of 12 months, cause an investigation to be made by the appropriate actuary into the financial condition of the society in respect of its long term business in accordance with section 46 of that Act.