The Actuaries Act `2006
An Act to provide for regulating and developing the profession of Actuaries and for matters connected therewith or incidental thereto.
List of Chapters & Sections
All sections
- 1Short title, extent and commencement
- 2Definitions
- 3Incorporation of Institute
- 4Transfer of assets, liabilities, etc., of Actuarial Society
- 5Objects of Institute
- 6Entry of names in register
- 7Associates and fellows
- 8Honorary, affiliate and student members
- 9Certificate of practice
- 10Members to be known as Actuaries
- 11Disqualifications
- 12Composition of Council of Institute
- 13Annual general meetings
- 14Re-election to Council
- 15Settlement of dispute regarding election
- 16Establishment of Tribunal
- 17President, Vice-President and Honorary Secretary
- 18Resignation from membership and filling up to casual vacancies
- 19Functions of Council
- 20Staff, remuneration and allowances
- 21Committees of Council
- 22Finances of Council
- 23Register
- 24Removal of name from register
- 25Re-entry in register
- 26Disciplinary Committee
- 27Appointment of Prosecution Director
- 28Authority, Council, Disciplinary Committee and Prosecution Director to have powers of civil court
- 29Action by Council on disciplinary Committee’s report
- 30Member to be afforded opportunity of being heard
- 31Professional or other misconduct defined
- 32Constitution of Appellate Authority
- 33Term of Office of Members of Authority
- 34Allowances, conditions of service of Members and procedure, etc., of Authority
- 35Officers and other staff of Authority
- 36Appeal to Authority
- 37Penalty for falsely claiming to be a member, etc
- 38Penalty for using name of Institution, awarding degrees of actuarial science, etc
- 39Companies not to engage in actuarial practice
- 40Unqualified person not to sign documents
- 41Offences by companies
- 42Sanction to prosecute
- 43Establishment of Quality Review Board
- 44Functions of Board
- 45Procedure of Board
- 46Terms and conditions of Chairperson and Members of Board
- 47Expenditure of Board
- 48Dissolution of Actuarial Society of India
- 49Provisions respecting employees of dissolved society
- 50Maintenance of more than one offices by Actuary
- 51Reciprocity
- 52Power of Central Government to issue directions
- 53Protection of action taken in good faith
- 54Members, etc., to be public servants
- 55Power of Central Government to make rules
- 56Power to make regulations
- 57Power of Central Government to issue directions for making or amending regulations
- 58Laying of rules and regulations
- 59Power to remove difficulties