Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) The actuary of a general insurer appointed in accordance with section 39 must:
(a) perform for the insurer the functions of an actuary set out in the prudential standards; and
(b) prepare, and give to the insurer, the reports (if any) required by the prudential standards to be prepared by the actuary.
(2) The general insurer must make the arrangements that are necessary to enable the actuary to do those things.
(3) The reports that the prudential standards require the actuary to prepare must deal with all of the matters required by the prudential standards to be dealt with in the reports.