Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) The Corporation must, in writing, nominate a person as reviewing actuary. The person must be an actuary who:
(a) is a Fellow of The Institute of Actuaries of Australia; and
(b) in the opinion of the Corporation, is a fit and proper person, and has appropriate skills, experience or knowledge, to be the reviewing actuary; and
(c) is neither a person employed under section 32 nor a consultant engaged under section 33.
(2) The nomination has effect for 3 years, or a shorter period specified in the nomination.
(3) The Corporation must, in writing, revoke the nomination if the nominee:
(a) ceases to be a Fellow of The Institute of Actuaries of Australia; or
(b) becomes a person employed under section 32 or a consultant engaged under section 33.
(4) Subsections (2) and (3) do not limit subsection 33(3) of the Acts Interpretation Act 1901 (which deals with revocation and variation of instruments).
Reviewing actuary for first 3 years of cyclone reinsurance scheme
(5) The Corporation must nominate the Australian Government Actuary under subsection (1) as the first reviewing actuary, as soon as reasonably practicable after the commencement of this section. The nomination has effect for 3 years, despite subsection (2) of this section and subsection 33(3) of the Acts Interpretation Act 1901 , but subject to subsection (3) of this section.
Nominations and revocations are not legislative instruments
(6) Neither a nomination under subsection (1) nor a revocation under subsection (3) is a legislative instrument.