Section 19: Maintenance of financially sound condition
consolidated text (as at 2018, amended since). juris shows the text as it was consolidated; it does not confirm that this is the law in force today.
19. Maintenance of financially sound condition
(1) A private pension scheme shall conduct its activities so as to remain
in a financially sound condition at all times.
(2) A private pension scheme shall contravene subsection (1) where it
fails to meet any requirement under this Act or any FSC Rules relating to—
(a) the technical funding;
(b) the maintenance of any technical provision and the method of its
valuation and calculation; or
(c) the diversification, admissibility and kinds of assets.
(3) Every officer, professional adviser or pension scheme administrator
who knows or reasonably suspects that a scheme does not meet the
requirements of subsection (1) shall forthwith report the matter to the Commission in writing.