1. The regulations issued by the Board of Directors, pursuant to this decree-law, shall set the data required to be included in the ‘Actuary Report’ on the result of the assessment and examination referred to in Article (97) of this decree-law. 2. An Insurance Company shall send to the Central Bank a copy of the Actuary Report on the result of the examination and assessment referred to in Article (97) of this decree-law, within three (3) months from the conclusion of the examination, accompanied by the following: a. A statement of valid Insurance Policies concluded by the concerned company inside or outside the State on the date of conducting the examination. If the activity is carried on by a branch of a foreign Insurance Company, the statement shall be limited to policies concluded in the State, or which are executed therein. b. A declaration by Persons in charge of the concerned company’s management that all data and information necessary to produce a correct report have been made available to the Actuary. 3. Following the expiry of the three-month (3) period, referred to in item (2) of this article, an additional period may be granted to the concerned company to submit the Actuary report, provided that this period does not exceed forty-five (45) days. 4. If it becomes clear to the Central Bank that the Actuary Report does not reflect the true financial position of the Insurance Company, the Central Bank may request a reexamination at the Insurance Company’s expense by an Actuary designated by the Central Bank for this purpose.
Interpretation and application must be checked against the official text and current version.