Actuaries Act, 2006

The Actuaries Act, 2006

बीमांकक अधिनियम, 2006

Rules Regulations Notifications Orders Circulars Ordinance Statutes

Act ID:	200635
Act Number:	35
Enactment Date:	2006-08-27
Act Year:	2006
Short Title:	The Actuaries Act, 2006
Hindi Title:	बीमांकक अधिनियम, 2006
Long Title:	An Act to provide for regulating and developing the profession of Actuaries and for matters connected therewith or incidental thereto.
Ministry:	Ministry of Finance
Department:	Department of Financial Services
Enforcement Date:	10-11-2006
Notification:	10th November, 2006, vide notification No. S.O. 1912(E) dated 28th November, 2006, see Gazette of India, Extraordinary,Part II, sec. 3(ii).


Schedule 1. THE SCHEDULE Order Appendix Forms

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Show all section The Actuaries Act, 2006

CHAPTER I

PRELIMINARY

CHAPTER II

INSTITUTE OF ACTUARIES OF INDIA

CHAPTER III

REGISTER OF MEMBERS

CHAPTER IV

MISCONDUCT

CHAPTER V

APPEALS

CHAPTER VI

PENALTIES

CHAPTER VII

QUALITY REVIEW BOARD

CHAPTER VIII

DISSOLUTION OF THE ACTUARIAL SOCIETY OF INDIA REGISTERED UNDER THE SOCIETIES REGISTRATION ACT

CHAPTER IX

MISCELLANEOUS


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


Schedule 1. THE SCHEDULE Order Appendix Forms

Year	Description	Hindi Description	Files(Eng)	Files(Hindi)
07-05-2008	Acturies Quality Review Board (procedure for Meeting and term and conndition of service and allowance of the chairperson and member) Rules 2008
07-05-2008	Actuaries Nomination of Member to the council rules 2008
02-07-2008	Actuaries(Procedure for Enquiry of Professional and Other Misconduct) Rules, 2008
02-07-2008	Actuaries-Election to the council rules, 2008

Schedule 1. THE SCHEDULE