(1) The Board is to
cause an actuary to carry out an investigation of the state and sufficiency of
the Fund at least once every 3 years and at any other times the Treasurer
directs.
(2) The actuary is to
report the results of the investigation to the Board within 12 months of the
date as at which the investigation is carried out or within any longer period
the Treasurer approves.
(3) The Board and
actuary must ensure that the actuarial investigation and report are carried
out in accordance with the Treasurer’s guidelines.