(1) The trustees of each registered plan shall appoint an actuary or a consulting actuary to make an investigation into the financial condition of the plan and to report on his or her findings.
(2) An investigation under subsection (1) shall be made every 4 years or at such shorter intervals as the Registrar may specify.
(3) A copy of the report of the actuary shall be furnished to the Registrar.
(4) Subsections (1) and (3) shall not apply to a plan insured with an insurer, but the trustees of such a plan shall obtain from the insurer a certificate to the effect that the plan has been valued by an actuary.
(5) The certificate required by subsection (4) shall be deposited by the trustees with the Registrar.