50. Maintenance of more than one offices by Actuary.—(1) Where an Actuary in practice or a firm
of such Actuaries has more than one offices within or outside India, each one of such offices shall be in
the separate charge of a fellow member of the Institute:
Provided that the Council may in suitable cases exempt any Actuary in practice or firm of such
Actuaries from the operation of this sub-section.
(2) Every Actuary in practice or a firm of such Actuaries maintaining more than one office shall send
to the Council a list of offices and the person in charge thereof and shall keep the Council informed of any
changes in relation thereto.
51. Reciprocity.—(1) Where any country, notified by the Central Government in this behalf in the
Official Gazette, prevents persons of Indian domicile from becoming members of any institution similar
to the Institute or from practicing the profession of Actuaries or subjects them to unfair discrimination in
that country, no subject of any such country shall be entitled to become a member of the Institute or
practice the profession of Actuaries in India.
(2) Subject to the provisions of sub-section (1), the Council may specify the conditions, if any, subject
to which foreign qualifications relating to actuarial science shall be recognised for the purposes of entry in
the register.
52. Power of Central Government to issue directions.—(1) For the purposes of this Act, the
Central Government may, from time to time, give to the Council such general or special directions as it
thinks fit, and the Council shall, in the discharge of its functions under this Act, comply with such
directions.
(2) If, in the opinion of the Central Government, the Council has persistently made default in giving
effect to the directions issued under sub-section (1), it may, after giving an opportunity of being heard to
the Council, by notification, dissolve the Council, whereafter a new Council shall be constituted in
accordance with the provisions of this Act with effect from such date as may be decided by the Central
Government.
(3) Where the Central Government has issued a notification under sub-section (2) dissolving the
Council, it may, pending the constitution of a new Council in accordance with the provisions of this Act,
authorise any person or body of persons to take over the management of the affairs of the Council and to
exercise such functions as may be mentioned in the notification.
53. Protection of action taken in good faith.—No suit, prosecution or other legal proceeding shall
lie against the Central Government or the Council or the Disciplinary Committee or the Tribunal or the
Authority or the Board or the Prosecution Director or any officer of that Government, Council,
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Committee, Tribunal, Authority or Board, for anything which is in good faith done or intended to be done
under this Act or any rule, regulation, notification, direction or order made thereunder.
54. Members, etc., to be public servants.—The Chairperson, Presiding Officer, Members and other
officers and employees of the Authority, Tribunal and Board, and the Prosecution Director shall be
deemed to be public servants within the meaning of section 21 of the Indian Penal Code (45 of 1860).
55. Power of Central Government to make rules.—(1) The Central Government may, by
notification, make rules to carry out the provisions of this Act.
(2) In particular and without prejudice to the generality of the foregoing power, such rules may
provide for all or any of the following matters, namely:—
(a) the manner of election and nomination in respect of members to the Council under sub-section
(2) of section 12;
(b) the terms and conditions of service of the Presiding Officers and Members of the Tribunal,
place of meeting, remuneration and allowances to be paid to them under sub-section (3) of section 16;
(c) the procedure of inquiry and submission of report by the Disciplinary Committee under subsection (2) of section 26;
(d) the procedure of inquiry by the Prosecution Director under sub-section (2) of section 27;
(e) any act or omission which may be determined as professional misconduct under section 31;
(f) the procedure to be followed by the Board in its meetings and discharging its functions under
section 45; and
(g) terms and conditions of service of the Chairman and Members of the Board under section 46.
56. Power to make regulations.—(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;
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(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.
57. Power of Central Government to issue directions for making or amending regulations.—(1)
Where the Central Government considers it expedient so to do, it may, by order in writing, direct the
Council to make any regulations or to amend or revoke any regulations already made within such period
as it may specify in this behalf.
(2) If the Council fails or neglects to comply with such order within the specified period, the Central
Government may itself make the regulations or amend or revoke the regulations made by the Council.
58. Laying of rules and regulations.—Every rule and every regulation made under this Act shall be
laid, as soon as may be after it is made, before each House of Parliament, while it is in session, for a total
period of thirty days which may be comprised in one session or in two or more successive sessions, and
if, before the expiry of the session immediately following the session or the successive sessions aforesaid,
both Houses agree in making any modification in the rule or regulation or both Houses agree that the rule
or regulation should not be made, the rule or regulation shall, thereafter have effect only in such modified
form or be of no effect, as the case may be; so, however, that any such modification or annulment shall be
without prejudice to the validity of anything previously done under that rule or regulation.
59. Power to remove difficulties.—(1) If any difficulty arises in giving effect to the provisions of
this Act, the Central Government may, by order, published in the Official Gazette, make such provisions
not inconsistent with the provisions of this Act, as may appear to be necessary for removing the difficulty:
Provided that no such order shall be made under this section after the expiry of a period of two years
from the commencement of this Act.
(2) Every order made under this section shall be laid, as soon as may be after it is made, before each
House of Parliament.