A trade union shall not begin to maintain a members' superannuation scheme unless, before the date on which the scheme begins to be maintained—
the proposals for the scheme have been examined by an appropriately qualified actuary, and
a copy of a report made to the trade union by the actuary on the results of his examination of the proposals, signed by the actuary, has been sent to the Certification Officer.
The actuary's report shall state—
whether in his opinion the premium or contribution rates will be adequate,
whether the accounting or funding arrangements are suitable, and
whether in his opinion the fund for the payment of benefits will be adequate.
A copy of the actuary's report shall, on the application of any of the union's members, be supplied to him free of charge.