Clause 22

by deleting subsections (1) and (2) and substituting the following subsections:“(1) Subject to this section, an insurer registered under this Act in respect of life business shall once in a period of 12 months have an investigation made by a qualified actuary into the financial condition of its life business and shall lodge with the Authority such abstract of the actuary’s report and certificate relating thereto and such statements as to that business as are prescribed under section 22(1).(2) An investigation under subsection (1) shall be made as at the end of each accounting period.”; and

by deleting subsection (5).