Actuaries Act, 2006

Bare Act · 2006

An Act to provide for regulating and developing the profession of Actuaries and for matters connected therewith or incidental thereto.

Act number: 35 of 2006
Enacted: 27 August 2006
Contents: 59 sections · 10 chapters

The first 5 sections are free to read. Sign in free to read the rest.

Contents

Chapter I — Preliminary

Chapter II — Institute Of Actuaries Of India

Section 3 – Incorporation of Institute
Section 4 – Transfer of assets, liabilities, etc., of Actuarial Society
Section 5 – Objects of Institute
Section 6 – Entry of names in register (preview)
Section 7 – Associates and fellows (preview)
Section 8 – Honorary, affiliate and student members (preview)
Section 10 – Members to be known as Actuaries (preview)
Section 11 – Disqualifications (preview)
Section 12 – Composition of Council of Institute (preview)
Section 13 – Annual general meetings (preview)
Section 14 – Re-election to Council (preview)
Section 15 – Settlement of dispute regarding election (preview)
Section 16 – Establishment of Tribunal (preview)
Section 17 – President, Vice-President and Honorary Secretary (preview)
Section 18 – Resignation from membership and filling up to casual vacancies (preview)
Section 19 – Functions of Council (preview)
Section 20 – Staff, remuneration and allowances (preview)
Section 21 – Committees of Council (preview)
Section 22 – Finances of Council (preview)

Sections

Section 9 – Certificate of practice (preview)

Chapter III — Register Of Members

Section 23 – Register (preview)
Section 24 – Removal of name from register (preview)
Section 25 – Re-entry in register (preview)

Chapter IV — Misconduct

Chapter V — Appeals

Section 32 – Constitution of Appellate Authority (preview)
Section 33 – Term of Office of Members of Authority (preview)
Section 34 – Allowances, conditions of service of Members and procedure, etc., of Authority (preview)
Section 35 – Officers and other staff of Authority (preview)
Section 36 – Appeal to Authority (preview)

Chapter VI — Penalties

Section 37 – Penalty for falsely claiming to be a member, etc (preview)
Section 38 – Penalty for using name of Institution, awarding degrees of actuarial science, etc (preview)
Section 39 – Companies not to engage in actuarial practice (preview)
Section 40 – Unqualified person not to sign documents (preview)
Section 41 – Offences by companies (preview)
Section 42 – Sanction to prosecute (preview)

Chapter VII — Quality Review Board

Section 43 – Establishment of Quality Review Board (preview)
Section 44 – Functions of Board (preview)
Section 45 – Procedure of Board (preview)
Section 46 – Terms and conditions of Chairperson and Members of Board (preview)
Section 47 – Expenditure of Board (preview)

Chapter VIII — Dissolution Of The Actuarial Society Of India Registered Under The Societies Registration Act

Chapter IX — Miscellaneous

Section 50 – Maintenance of more than one offices by Actuary (preview)
Section 51 – Reciprocity (preview)
Section 52 – Power of Central Government to issue directions (preview)
Section 53 – Protection of action taken in good faith (preview)
Section 54 – Members, etc., to be public servants (preview)
Section 55 – Power of Central Government to make rules (preview)
Section 56 – Power to make regulations (preview)
Section 57 – Power of Central Government to issue directions for making or amending regulations (preview)
Section 58 – Laying of rules and regulations (preview)
Section 59 – Power to remove difficulties (preview)