Financial Services Act 2013 s 74
s 74 Appointment of actuary by licensed insurer
(1) Every licensed insurer shall appoint an actuary in respect of a life or general business carried on by the licensed insurer.
(2) Any actuary to be appointed under subsection (1) shall meet such requirements or have such qualifications set out in any standards as may be specified by the Bank under subsection 47(1).
(3) Except with the prior written approval of the Bank, no licensed insurer shall appoint any person as its actuary under subsection (1) and no person shall accept such appointment.
(4) An appointment under subsection (1) shall be for each financial year or such longer period as approved by the Bank.
Malay text (authoritative)
Pelantikan aktuari oleh penanggung insurans berlesen
(1) Tiap-tiap penanggung insurans berlesen hendaklah melantik suatu aktuari berkenaan dengan perniagaan hayat atau am yang dijalankan oleh penanggung insurans berlesen itu.
(2) Mana-mana aktuari yang akan dilantik di bawah subseksyen (1) hendaklah memenuhi apa-apa kehendak atau mempunyai apa-apa kelayakan yang dinyatakan dalam manamana standard sebagaimana yang ditentukan oleh Bank di bawah subseksyen 47(1).
(3) Kecuali dengan kebenaran bertulis terdahulu Bank, tiada penanggung insurans berlesen pun boleh melantik mana-mana orang sebagai aktuarinya di bawah subseksyen (1) dan tiada seorang pun boleh menerima pelantikan itu.
(4) Suatu pelantikan di bawah subseksyen (1) hendaklah bagi setiap tahun kewangan atau apa-apa tempoh lebih panjang sebagaimana yang diluluskan oleh Bank.
Read this section in the full act β Β· Open Division 5 β
Find Act 758 on lom.agc.gov.my β
Source: Laws of Malaysia, Attorney General's Chambers of Malaysia (lom.agc.gov.my). Not a copy of the Gazette printed by the Government Printer (Interpretation Acts 1948 and 1967, s 61).
