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4.
However, there is no room for
complacency. Given the opportunities
presented by a year of recovery the
Commissioner has undertaken a critical
appraisal of the Corporation's activities
and of the nature and level of risks assumed
in recent years. As a result he has drawn
up a three-year plan containing financial
objectives and measures to secure them which,
if achieved, will restore the Corporation to
a better state of financial health. This plan
has received the benefit of the advice of the
Corporation's Advisory Board, and is now being
implemented.
5.
I am pleased to add that reinsurance
cover, which was lost to the Corporation since
September 1983, and which played a vital part
in reducing its losses, has now been freshly
acquired.
16.