—(1) Subject to this section, an insurer registered under this Act in respect of life business shall, once in a period of 12 months —
have an investigation made by an actuary into the financial condition of its life business; and
lodge with the Authority such abstract of the actuary’s report and certificate relating thereto and such statements as to that business as are prescribed under section 36(1).
(2) An investigation under subsection (1) shall be made as at the end of each accounting period.
(3) In the case of a company incorporated or established outside Singapore, the investigation required by subsection (1) need not extend beyond the business for which an insurance fund is maintained under this Act.
(4) If the company referred to in subsection (3) is required by the law relating to insurance in the country in which it is incorporated or established to furnish the authority having the administration of that law with returns as to actuarial investigations of its life business, the documents to be lodged with the Authority under this section shall be accompanied by certified copies of any such returns made since the company was first registered under this Act in respect of life business, other than returns of which copies have previously been furnished under this subsection.
(5) References in this Act to documents lodged with the Authority shall not be taken to include documents required by subsection (4) to accompany documents so lodged.
(6) Where an insurer registered under this Act in respect of life business —
has an actuarial investigation made into the life business for which it maintains an insurance fund under this Act (whether with or without any other life business carried on by it); and
the investigation is not made to comply with subsection (1) or with any provision as to returns in the law relating to insurance in a country outside Singapore, but the results of the investigation are made public,
then the insurer shall, as to the lodging of documents with the Authority, comply with the requirements of subsection (1) as in the case of an investigation made under that subsection.