The Actuaries Act, 2006 37Chapter VI · Penalties

Section 37 · Penalty for falsely claiming to be a member, etc

Text size — level 1 of 4
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.

The offence at a glance

Maximum punishment
1 year
Fine
₹2,00,000
Cognizable
Non-cognizable
Bailable
Bailable
Compoundable
Not compoundable
Triable by
Any Magistrate
  • Non-cognizable — Police cannot investigate without a Magistrate's order
  • Bailable — Bail is your right — it can be granted at the police station

Sub-sections of this section carry different penalties; the maximum is shown.

Derived from the First Schedule Part II rule — not listed section by section

Work it out

Your private note on this section

Only you can see this note.