Section 48: Consulting actuary
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.
48. Consulting actuary
(1) The Board shall, with the approval of the Minister, appoint a consulting actuary who shall, at least once every 5 years, review the position of the
Fund and make such recommendations to the Board as he considers necessary and who shall advise the Board on any change to be made to—
(a) the percentages laid down in the Second Schedule;
(b) the method of determining ranking and the value of insurable
sugar;
(c) the prescribed area and the prescribed percentage of the total
insurable sugar for the purpose of the declaration of an event
year under section 25.
(2) The recommendations under subsection (1) may include the defining
of such prescribed area and such prescribed percentage of the total insurable
sugar as the consulting actuary may deem appropriate.
[S. 48 amended by s. 12 of Act 1 of 2012 w.e.f. 12 May 2012.]