Section 37
Penalty for falsely claiming to be a member, etc.
About this Act
An Act to provide for regulating and developing the profession of Actuaries and for matters connected therewith or incidental thereto.
Subject to the provisions of section 10, any
person who,--
(a) not being a member of the Institute,--
(i) represents that he is a member of the Institute in any of the manners mentioned in section 7; or
(ii) uses the designation "Actuary"; or
(iii) uses the letters "AIAI" or "FIAI" after his name; or
(iv) practises the profession of an Actuary; or
(b) being a member of the Institute, but not having a certificate of practice, represents that he is in practice, or practises as an Actuary,
shall be punishable on first conviction with fine which may extend to one lakh rupees, and on any subsequent conviction with imprisonment which may extend to one year, or with fine which may extend to two lakh rupees, or with both.
(a) not being a member of the Institute,--
(i) represents that he is a member of the Institute in any of the manners mentioned in section 7; or
(ii) uses the designation "Actuary"; or
(iii) uses the letters "AIAI" or "FIAI" after his name; or
(iv) practises the profession of an Actuary; or
(b) being a member of the Institute, but not having a certificate of practice, represents that he is in practice, or practises as an Actuary,
shall be punishable on first conviction with fine which may extend to one lakh rupees, and on any subsequent conviction with imprisonment which may extend to one year, or with fine which may extend to two lakh rupees, or with both.