The Actuaries Act, 2006
6. Entry of names in
register. -
1.
Any
of the following persons shall be entitled to have his name entered in the
register, namely:-
a. any person who
immediately before the appointed day was an associate or a fellow (including an
honorary fellow) of the Actuarial Society;
b. any person who has
passed the examination conducted by the Actuarial Society and has completed
training either as specified by the said Society or as specified by the
Council, except any such person who is not a permanent resident of India;
c. any person who has
passed such examination and completed such training, as may be specified for
membership of the Institute;
d. any person who has
passed such other examination and completed such other training outside India
as is specified as being equivalent to the examination and training specified
under this Act for membership of the Institute: Provided that in the case of
any person belonging to any of the classes mentioned in this sub-section who is
not permanently residing in India, the Central Government or the Council may
impose such further conditions as it may deem necessary or expedient in the
public interest.
1.
2.
Every
person mentioned in clause (a) of sub-section (1) may have his name entered in
the register without the payment of any entrance fee.
3.
Every
person belonging to any of the classes mentioned in clauses (b), (c) and (d) of
sub-section (1) shall have his name entered in the register on an application
being made and granted in the specified manner and on payment of such fees, as
may be specified.
4.
The
Council shall take such steps as may be necessary for the purpose of having the
names of all persons belonging to the class mentioned in clause (a) of
sub-section (1) entered in the register before the appointed day.
5.
Notwithstanding
anything contained in this section, the Council may confer on any person
honorary fellow membership, if the Council is of the opinion that such person
has made a significant contribution to the profession of Actuary and thereupon
the Council shall enter the name of such person in the register but such person
shall not have any voting rights in any election or meetings of the Institute
and shall not also be required to pay any fee to the Institute.