81. (1) Every provident society shall once in every five years or at such shorter intervals as may be laid down by the rules of the society cause an investigation to be made as at the last day of a calendar year into its financial condition including the valuation of its liabilities and assets by an actuary. (2) The report of the actuary shall contain an abstract in which shall be stated-(a) the general principles adopted in the valuation including the method by which the valuation age of lives was ascertained,(b) the rate at each age of the mortality and any other factor assumed and the annuity values used in valuation,(c) the reserve values held against policies effected, (d) the rate of interest assumed, and (e) the provision made for expenses,and shall have appended to it a certificate signed by a principal officer of the society that all material necessary for proper valuation has been placed at the disposal of the actuary and that full and accurate particulars of every policy under which there is a liability either actual or contingent have been furnished to the actuary for the purpose of the investigation. (3) If the actuary finds that the financial condition of the society is such that no surplus exists for distribution as bonus to the policy-holders or as dividend to the shareholders, he shall state in his report whether in his opinion the society is insolvent and, if so, whether it should be wound up or not, and the extent to which in his opinion existing contracts should be modified or existing rates of premium should be adjusted to make good the deficiency in the assets.