Power to make regulations

Section 56 of the Actuaries Act, 2006 deals with power to make regulations. The Council may, with the previous approval of the Central Government and subject to the previous publication, by notification in the Official Gazette, make regulations to carry out the provisions of this Act. The Act came into force on 10 Nov 2006.

(1) The Council may, with the previous approval of the Central Government and subject to the previous publication, by notification in the Official Gazette, make regulations to carry out the provisions of this Act.

(2) In particular, and without prejudice to the generality of the foregoing power, such regulations may provide for all or any of the following matters, namely:--

(a) the examination and training for the purposes of clauses (b), (c) and (d) of sub-section (1) of section 6;

(b) the manner of making an application under sub-section (3) of section 6;

(c) the fees payable under sub-section (3) of section 6, sub-section (2) of section 9, clause (a) of sub-section (2) of section 19, sub-section (4) of section 23;

(d) the manner in which the honorary member may be chosen under sub-section (1) of section 8;

(e) the terms and conditions on which an affiliate member may be admitted under sub-section (2) of section 8;

(f) the academic qualifications for admission of a student member under sub-section (3) of section 8;

(g) qualifications required for a certificate of practice under sub-section (1) and the form in which an application may be made under sub-section (2) of section 9;

(h) the transaction of business by the Council for the discharge of its functions mentioned in subsection (2) of section 19;

(i) terms and conditions of the services under sub-section (1) of section 20;

(j) the functions and conditions of the committees under sub-section (3) of section 21;

(k) the manner in which the register of the members of the Institute and other particulars to be maintained under sub-sections (1) and (2) of section 23;

(l) the manner in which the annual list of members of the Institute may be published under subsection (3) of section 23;

(m) the conditions and requirements and payment of fee for re-entry in the register under section 25;

(n) salaries and allowances and conditions of service of the officers and other staff members of the Authority under sub-section (2) of section 35;

(o) the conditions subject to which foreign qualifications may be recognised under sub-section (2) of section 51; and

(p) any other matter which is required to be, or may be, prescribed under this Act.

Section 56, The Actuaries Act, 2006 (Act 35 of 2006).