The Actuaries Act, 2006
| Contents |
| Sections |
Particulars |
| Chapter I |
Preliminary |
| 1 |
Short title, extent and commencement |
|
Definitions |
| Chapter II |
Institute of Actuaries of India |
| 3 |
Incorporation of institute |
| 4 |
Transfer of assets, liabilities, etc., of actuarial society |
| 5 |
Objects of institute |
| 6 |
Entry of names in register |
| 7 |
Associates and fellows |
| 8 |
Honorary, affiliate and student members |
| 9 |
Certificate of practice |
| 10 |
Members to be known as actuaries |
| 11 |
Disqualifications |
| 1 |
Composition of council of institute |
| 13 |
Annual general meetings |
| 14 |
Re-election to council |
| 15 |
Settlement of disputes regarding election |
| 16 |
Establishment of tribunal |
| 17 |
President, vice-president and honorary secretary |
| 18 |
Resignation from membership and filling up of casual vacancies |
| 19 |
Functions of council |
| 20 |
Staff, remuneration and allowances |
| 21 |
Committees of council |
| 22 |
Finances of council |
| Chapter III |
Register of Members |
| 23 |
Register |
| 24 |
Removal of name from register |
| 25 |
Re-entry in register |
| Chapter IV |
Misconduct |
| 26 |
Disciplinary committee |
| 27 |
Appointment of prosecution director |
| 28 |
Authority, council, disciplinary committee and prosecution director to have powers of civil court |
| 29 |
Action by council on disciplinary committee's report |
| 30 |
Member to be afforded opportunity of being heard |
| 31 |
Professional or other misconduct defined |
| Chapter V |
Appeals |
| 3 |
Constitution of appellate authority |
| 33 |
Term of office of members of authority |
| 34 |
Allowances, conditions of service of members and procedure, etc., of authority |
| 35 |
Officers and other staff of authority |
| 36 |
Appeal to authority |
| Chapter VI |
Penalties |
| 37 |
Penalty for falsely claiming to be a member, etc. |
| 38 |
Penalty for using name of institution, awarding degrees of actuarial science, etc. |
| 39 |
Companies not to engage in actuarial practice |
| 40 |
Unqualified person not to sign documents |
| 41 |
Offences by companies |
| 42 |
Sanction to prosecute |
| Chapter VII |
Quality Review Board |
| 43 |
Establishment of quality review board |
| 44 |
Functions of board |
| 45 |
Procedure of board |
| 46 |
Terms and conditions of chairperson and members of board |
| 47 |
Expenditure of board |
| Chapter VIII |
Dissolution of the Actuarial Society of India registered under the Societies Registration Act |
| 48 |
Dissolution of actuarial society of india |
| 49 |
Provisions respecting employees of dissolved society |
| Chapter IX |
Miscellaneous |
| 50 |
Maintenance of more than one offices by actuary |
| 51 |
Reciprocity |
| 5 |
Power of central government to issue directions |
| 53 |
Protection of action taken in good faith |
| 54 |
Members, etc., to be public servants |
| 55 |
Power of central government to make rules |
| 56 |
Power to make regulations |
| 57 |
Power of central government to issue directions for making or amending regulations |
| 58 |
Laying of rules and regulations |
| 59 |
Power to remove difficulties |
| THE SCHEDULE |
Schedule |
| |
Schedule Part I |
| |
Schedule Part II |
| |
Schedule Part III |
| |
Schedule Part IV |
The Actuaries Act, 2006 No. 35 of 2006 [27th August, 2006.]
An Act to provide for regulating and developing the profession of Actuaries and for matters connected therewith or incidental thereto. Be it enacted by Parliament in the Fifty-seventh Year of
the Republic of India as follows:-
