The Actuaries Act, 2006

59 sections.

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 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.
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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