1. The Statement by Directors forms a part of the annual Regulatory Return or the quarterly Regulatory Return. By providing these statements, the directors confirm that the Returns have been properly prepared and that the Insurer complies with applicable prudential rules.
2. The Statement by Directors is set out as statements that must be made, but circumstances may arise when a statement cannot be made because it would be untrue to do so. Under such circumstances this section provides for the directors to provide an explanation in place of the omitted statement.
Amended on (3 February, 2020).