Section 41: Notice of resignation and termination

41. Notice of resignation and termination (1) An insurer shall give to the Commission written notice of the termination of appointment or resignation of its auditor or actuary within 15 days of the termination or resignation. (2) Where the termination of appointment or resignation of an auditor or actuary is otherwise than by reason of expiry of his term of office— (a) the insurer shall set out the reasons for and circumstances of the termination or resignation; (b) the Commission may require the auditor or actuary to give his opinion on the circumstances of the termination or resignation.