8B   Adjustment of reserves resulting from actuarial investigation

(1)  STC may adjust the reserves within the Fund if a report by an actuary under section 10, or by an actuary otherwise appointed by STC, recommends that the adjustment be made. The adjustment may be made as at a date determined by STC, and may be a date before, on or after the commencement of this section.

(2)  STC may only make the adjustment with the consent of the Minister after the Minister has considered the relevant report of the actuary and with the advice of the actuary.

(3)  STC may adjust the contributors’ reserve or an employer reserve under this section despite any other provision of this Act.

(4)  STC must publish in the Gazette a notice containing a description of any adjustments made to reserves under this section.

(5)  STC’s decision to adjust a reserve under this section is binding on all contributors and employers, unless affected by a subsequent decision under this section.