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[Cites 0, Cited by 0] [Section 3(4)] [Section 3] [Entire Act]

Union of India - Subsection

Section 3(4)(b) in The Insurance Regulatory And Development Authority (Actuarial Report And Abstract) Regulations, 2000

(b)a certificate signed by the appointed actuary with his remarks, if any, to the effect that-
(i)the data furnished by the principal officer has been included in conducting the valuation of liabilities for the purpose of investigation;
(ii)reasonable steps have been taken to ensure the accuracy and completeness of the data;
(iii)he has complied with provisions of the Act;
(iv)he has complied with guidance notes issued by the Actuarial Society of India with the concurrence of the authority;
(v)in his opinion, the mathematical reserves are adequate to meet the insurer's future commitments under the contracts, and the policy-holders' reasonable expectations.