Document ID: chunk:federal_register_of_legislation:C2025C00157:section:39
Version: federal_register_of_legislation:C2025C00157
Segment Type: section
Provision Reference: s 39
Character Range: 122245–123166

39  Requirement for general insurers to have an auditor and actuary
 (1) A general insurer must have:
 (a) an auditor appointed by the insurer; and
 (b) an actuary appointed by the insurer.
 (2) Within 6 weeks after a person stops being the principal auditor or the actuary of a general insurer, the general insurer must appoint another person to be the principal auditor or the actuary.
 (3) A general insurer must not appoint a person as an auditor or actuary of the insurer unless:
 (a) the insurer is reasonably satisfied that the person meets the eligibility criteria for such an appointment set out in the prudential standards; and
 (b) no order is in force under section 44 disqualifying the person from holding such an appointment.
 (4) An appointment of a person as the principal auditor or the actuary of a general insurer cannot take effect while an appointment of another person in that position is current.