Section 17

For successive periods of any duration, not exceeding 5 years, determined by the Minister in each case, an examination of the Fund must be made by a person appointed by the Minister with a view to determining the state of the Fund having regard to its prospective liabilities and the probable annual provisions required by the Fund to meet those liabilities.

Despite subsection (1), where an amendment is made to the CONNECT Plan, and the amendment affects the cost of benefits payable under the CONNECT Plan or creates an initial unfunded liability, the Minister may, for the purposes of section 11(1)(a), appoint a person to make an examination and report on the state of the Fund.

The person appointed under subsection (1) or (2) must, at the end of the person’s examination, report to the Minister for Finance and the Minister the state of the Fund having regard to its prospective liabilities and the probable annual provisions required by the Fund to meet those liabilities.

The Minister must cause a copy of every such report to be presented to Parliament forthwith after receiving it.