Power of Chief Controller of Insurance to order revaluation
23. Evidence of documents
22. (1) If it appears to the Chief Controller of Insurance that an investigation or valuation to which section 13 refers does not properly indicate the condition of the affairs of the insurer by reason of the faulty basis adopted in the valuation, he may, after giving notice to the insurer and giving him an opportunity to be heard, cause an investigation and valuation as at such date as the Chief Controller of Insurance may specify to be made at the expense of the insurer by an actuary appointed by the insurer for this purpose and approved by the Chief Controller of Insurance and the insurer shall place at the disposal of the actuary so appointed and approved all the material required by
the actuary for the purposes of the investigation and valuation within such period, not being less than three months, as the Chief Controller of Insurance may specify.
(2) The provisions of sub-sections (1) and (4) of section 13, and of sub-sections (1) and (2) of section 15 shall apply in relation to an investigation and valuation under this section:
Provided that the abstract and statement prepared as the result of such investigation and valuation shall be furnished by such date as the Chief Controller of Insurance may specify.
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Ministry of Law, Justice and Parliamentary Affairs