The Actuaries Act, 2006
Central Act · Act 35 of 200658 provisions
The enactment
| Long title | An Act to provide for regulating and developing the profession of Actuaries and for matters connected therewith or incidental thereto. |
|---|---|
| Type | Act |
| Citation | Act 35 of 2006 |
| Year | 2006 |
| Jurisdiction | Central |
| Ministry | Ministry of Finance |
| Status | In force as published by the source |
| Provisions published | 58 |
| Subjects | financial |
Full text, provision by provision
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- Section 1 Short title, extent and commencement.
- 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.
- 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.
- Section 27 Appointment of Prosecution Director.
- 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.
- 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.
- Section 46 Terms and conditions of Chairperson and Members 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.
- 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.
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