Further developments on Requirements for variable annuity business: as reported in January's Tracker, the Central Bank has published Requirements on Reserving and Risk Governance for Variable Annuities. Subsequently, the Society of Actuaries in Ireland requested numerous clarifications concerning the Requirements. The Central Bank has responded to each of the queries raised. Interestingly, the Central Bank confirmed that, when it comes into effect, Solvency II will determine all of the requirements relating to VA business. Additionally, it confirmed that entities which received a copy of the requirements paper by email and registered post on 24 December 2010 had already been deemed to be "VA undertakings" and, therefore, are not required to make a declaration to the Central Bank stating whether they believe they are/are not VA undertakings. (The Central Bank's response and the original letter received from the Society of Actuaries are available on the Central Bank's website).