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(1) (other than in COBS)
an investigation to which IPRU-INS rule 9.4 applies.(2) (in COBS and SUP 4) for a Solvency II firm, an investigation having regard to generally accepted actuarial practice, carried out at least once in every 12-month period with advice, as appropriate, from the persons holding the with-profits actuary function and the actuarial function.