PINS 9.1.5 Regulatory Authority may direct special review

(1) The Regulatory Authority may direct an insurer that the insurer's approved actuary—
(a) is to carry out a review of matters specified by the authority relating to the insurer's operations, risk management or financial affairs; and
(b) is to prepare a report on the basis of that review.
(2) The insurer must bear the cost of the review.
(3) An insurer must comply with a direction under subrule (1).
(4) The insurer's approved actuary must give the report simultaneously to the Regulatory Authority and the insurer within 3 months of the date of the direction, unless the authority grants an extension of time in writing.
Inserted by QFCRA RM/2012-5 (as from 1st July 2013).