(1) The method of valuation adopted in determining the amount of the liability under each category of contract shall be such that it is generally accepted actuarially as an appropriate method to use in determing the liability under contracts of the category in question.
(2) Where further specified premiums are payable by the policyholder under a contract (not being a linked life assurance contract) under which benefits (other than benefits arising from a distribution of profits) are determined from the outset in relation to the total premiums payable thereunder, then, subject to Article 30 -
(a) where the premiums under the contract are at a uniform rate throughout the period for which they are payable, the premiums to be valued shall be not greater than such level premiums as, if payable for the same period as the actual premiums under the contract and calculated according to the rates of interest and rates of mortality or disability which are to be employed in calculating the li