Section 1. Short title, extent and commencement

CHAPTER I - PRELIMINARY 1. Short title, extent and commencement . — (1) This Act may be called the Actuaries Act, 2006. (2) It extends to the whole of India. (3) It shall come into force on such date[1] as the Central Government may, by notification in the Official Gazette, appoint: Provided that different dates may be appointed for different provisions of this Act and any reference in any such provision to the commencement of this Act shall be construed as a reference to the commencement of that provision. 1. 10th November, 2006, vide notification No. S.O. 1912(E) dated 28th November, 2006, see Gazette of India, Extraordinary, Part II, sec. 3(ii) (n) "Tribunal" means a Tribunal established under sub-section (1) of section 16; (o) ''Vice-President'' means the Vice-President of the Council; (p) "year" means the period commencing on the 1st day of April of any year and ending on the 31st day of March of the succeeding year. (2) Save as otherwise provided in this Act, a member of the Institute shall be deemed "to be in practice" when individually or in partnership with Actuaries in practice as a member or an employee of a company, he, whether or not in consideration of remuneration received or to be received, — (i) engages himself in actuarial profession; or (ii) offers to perform or performs services involving the application of actuarial techniques in the fields of insurance, pension, investment, finance and management; or (iii) renders such other services as, in the opinion of the Council, are or may be rendered by an actuary in practice; or (iv) is in employment of a person engaged in one or more of the activities mentioned in clauses (i), (ii) and (iii) above, and the words "to be in practice" with their grammatical variations and cognate expressions shall be construed accordingly. Explanation . — For the purposes of this sub-section, the expression "company" includes a public financial institution as defined in section 4A of the Companies Act, 1956 (1 of 1956).