225Certification of technical provisions
This section has no associated Explanatory Notes
(1)When an actuarial valuation is carried out, the calculation of the technical provisions must be certified by the actuary.
(2)The certificate must state that in the opinion of the actuary the calculation is made in accordance with regulations under section 222.
(3)If the actuary cannot give the certificate required by subsection (2) he must report the matter in writing to the Regulator within a reasonable period after the end of the period within which the valuation must be received by the trustees or managers.
Section 10 of the Pensions Act 1995 (civil penalties) applies to the actuary if he fails without reasonable excuse to comply with this subsection.