The Actuaries Act, 2006 (Bare Act)/
The Actuaries Act, 2006 (Bare Act)/
Universal Law Publishing
- New Delhi: Universal Law Publishing, 2010.
- 29 p.
THE ACTUARIES ACT, 2006
Introduction
CHAPTER I
PRELIMINARY
Sections
1. Short title, extent.and commencement
2. 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
12. 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, Vicc-Prcsident and Honorary Secretary
18. Resignation from membership and filling up of casual vacancies
19. Functions of CovmcU
20. Staff, rcfiiuneration and allowances
21. Committees of Coimcil
22. Finances of Coimcil
CHAPTER ///
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
Action by Council on Disciplinary Committee's report
Member to be afforded opportunity of being heard
Professional or other misconduct defined
CHAPTER V
APPEALS
Constitution of Appellate Autliority
Term of office of Members of Authority
Allowances, conditions of service of members and procedure etc., " of Authority
Officers and other staff of Authority
Appeal to Authority
CHAPTER VI
PENALTIES Penalty for falsely claiming to be a member, etc. Penalty for using name of Institution, awarding degrees of actuarial science, etc.
Companies not to engage in actuarial practice
Unqualified person not to sign documents
Offences by companies
Sanction to prosecute
CHAPTER VII
QUALITY REVIEW BOARD
Establishment of Quality Review Board
Functions of Board
Procedure of Board
Terms and conditions of Chairman and Members of Board
Expenditure of Board
CHAPTER VIII
DISSOLUTION OF THE ACTUARIAL SOQETY OF INDIA REGISTERED UNDER THE SOQETIES REGISTRATION ACT Dissolution of Actuarial Society of India Provisions respecting employees of dissolved society
CHAPTER IX
MISCELLANEOUS Maintenance of more than one offices by Actuary
Reciprocity
Power of Central Government to issue directions
Protection of action taken in good faith
Members, etc., to be public servants
Power of Central Government to make rules
Power to make regulations Power of Central Goverrunent to issue directions for making or amending regulations
58. Laying of rules and regulations . . . 21
59. Power to remove difficulties . . . 22 THE SCHEDULE.—[Pw/cssioiml misconduct—See section 31] . . . 22
Part 1.— Professional misconduct in relation to members of the Institute in practice . . . 22
Part n.— Professional misconduct in relation to tlie members of tire Institute in service . . . 23
Part III.— Professional misconduct in relation to members of the Institute generally ■ . •. 24
Part IV.— Other misconduct in relation to member of tire Institute generally . . . 24
RELEVANT PROVISIONS OF STATUTES REFERRED
• The Companies Act, 1956 . . . 25 • The Securities Contract (Regulation) Act, 1956 . . . 25
• The Chartered Accountants Act, 1949 . . . 27
• The Indian Penal Code
Bare Act
344.54 / UNI/A
THE ACTUARIES ACT, 2006
Introduction
CHAPTER I
PRELIMINARY
Sections
1. Short title, extent.and commencement
2. 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
12. 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, Vicc-Prcsident and Honorary Secretary
18. Resignation from membership and filling up of casual vacancies
19. Functions of CovmcU
20. Staff, rcfiiuneration and allowances
21. Committees of Coimcil
22. Finances of Coimcil
CHAPTER ///
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
Action by Council on Disciplinary Committee's report
Member to be afforded opportunity of being heard
Professional or other misconduct defined
CHAPTER V
APPEALS
Constitution of Appellate Autliority
Term of office of Members of Authority
Allowances, conditions of service of members and procedure etc., " of Authority
Officers and other staff of Authority
Appeal to Authority
CHAPTER VI
PENALTIES Penalty for falsely claiming to be a member, etc. Penalty for using name of Institution, awarding degrees of actuarial science, etc.
Companies not to engage in actuarial practice
Unqualified person not to sign documents
Offences by companies
Sanction to prosecute
CHAPTER VII
QUALITY REVIEW BOARD
Establishment of Quality Review Board
Functions of Board
Procedure of Board
Terms and conditions of Chairman and Members of Board
Expenditure of Board
CHAPTER VIII
DISSOLUTION OF THE ACTUARIAL SOQETY OF INDIA REGISTERED UNDER THE SOQETIES REGISTRATION ACT Dissolution of Actuarial Society of India Provisions respecting employees of dissolved society
CHAPTER IX
MISCELLANEOUS Maintenance of more than one offices by Actuary
Reciprocity
Power of Central Government to issue directions
Protection of action taken in good faith
Members, etc., to be public servants
Power of Central Government to make rules
Power to make regulations Power of Central Goverrunent to issue directions for making or amending regulations
58. Laying of rules and regulations . . . 21
59. Power to remove difficulties . . . 22 THE SCHEDULE.—[Pw/cssioiml misconduct—See section 31] . . . 22
Part 1.— Professional misconduct in relation to members of the Institute in practice . . . 22
Part n.— Professional misconduct in relation to tlie members of tire Institute in service . . . 23
Part III.— Professional misconduct in relation to members of the Institute generally ■ . •. 24
Part IV.— Other misconduct in relation to member of tire Institute generally . . . 24
RELEVANT PROVISIONS OF STATUTES REFERRED
• The Companies Act, 1956 . . . 25 • The Securities Contract (Regulation) Act, 1956 . . . 25
• The Chartered Accountants Act, 1949 . . . 27
• The Indian Penal Code
Bare Act
344.54 / UNI/A