{
  "url": "https://openlegislation.uk/insurers-winding-up-rules-northern-ireland-2005/article-12",
  "json_url": "https://openlegislation.uk/insurers-winding-up-rules-northern-ireland-2005/article-12.json",
  "legislation": "nisr/2005/399",
  "legislation_title": "The Insurers (Winding-Up) Rules (Northern Ireland) 2005",
  "legislation_url": "https://openlegislation.uk/insurers-winding-up-rules-northern-ireland-2005",
  "path": "article/12",
  "kind": "article",
  "number": "12",
  "heading": "Actuarial advice",
  "text": "(1) Before doing any of the following, that is to say—\n(a) determining the value of a policy in accordance with Schedules 1 to 5 (other than paragraph 3 of Schedule 1);\n(b) identifying long-term liabilities and assets in accordance with Rules 9 and 10;\n(c) determining the amount (if any) of the excess of the long-term business assets in accordance with Rule 11;\n(d) determining the terms on which he will accept payment of overdue premiums under Rule 21(1) or the amount and nature of any compensation under Rule 21(2);\nthe liquidator shall obtain and consider advice thereon (including an estimate of any value or amount required to be determined) from an actuary.\n(2) Before seeking, for the purpose of valuing a policy, the direction of the High Court as to the assumption of a particular rate of interest or the employment of any rates of mortality or disability, the liquidator shall obtain and consider advice thereon from an actuary.",
  "extent": "N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "I",
      "label": "I1",
      "text": "Art. 12 in operation at 19.9.2005, see art. 1(1)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/nisr/2005/399/article/12",
    "retrieved_at": "2026-10-29T01:50:52.366407+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}