Regulations 31 and 32.
7. The certificate required by Article 32 (b) of these Regulations to be signed by the appointed actuary -
(a) shall state, if such be the case -
(i) that in the actuary's opinion proper records have been kept by the undertaking adequate for the purposes of the valuation of the liabilities of its life assurance business;
(ii) that the mathematical reserves as shown in Form 16, together, if the case so requires, with an amount specified in the certificate (being part of the excess of the value of the designated assets representing the life assurance business funds over the amount of those funds shown in Form 16) constitute proper provision at the end of the financial year for the liabilities (other than liabilities which had fallen due before the end of the financial year) arising under or in connection with contracts for life assurance business including any increase in those liabilities arising from a distribution of surplus as a result of an investigation as at
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