P5.—(1) Every administering authority shall obtain an actuarial valuation of the assets and liabilities of their superannuation fund as at 31st March in the year 1989 and in every fifth year thereafter, together with a report by the actuary, and shall for that purpose provide the actuary with the consolidated revenue account of the fund and such other information as he may require.
(2) Unless the Secretary of State allows an extended period, the valuation and report are to be obtained within 21 months from the date as at which the valuation is made.
(3) Forthwith upon receiving any such valuation and report an adminstering authority shall—
(a)send copies of them to the Secretary of State and to each body whose employees contribute to the fund,
(b)send the Secretary of State a copy of the consolidated revenue account with which the actuary was provided, and
(c)unless the report contains a summary of the assets of the fund at the date as at which the valuation was made, send the Secretary of State such a summary.