The Actuaries Act, 2006

The Actuaries Act, 2006 was enacted to provide for the regulation of the profession of actuaries in India. The act establishes the Institute of Actuaries of India, which is responsible for the registration and regulation of actuaries in India. The act also lays down the qualifications required to become an actuary, the code of conduct to be followed by actuaries, and the disciplinary provisions applicable to them. The act provides for the constitution of a council to manage the affairs of the Institute of Actuaries of India and to frame regulations to govern the conduct of actuaries. The act empowers the central government to make rules for the implementation of the act.