The Actuaries Act, 2006 39Chapter VI · Penalties
Section 39 · Companies not to engage in actuarial practice
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(1) No company, whether incorporated in
India or elsewhere, shall practice as Actuaries.
(2) Any company contravening the provisions of sub-section (1) shall be punishable on first conviction with fine which may extend to ten thousand rupees, and on any subsequent conviction with fine which may extend to twenty-five thousand rupees.
(2) Any company contravening the provisions of sub-section (1) shall be punishable on first conviction with fine which may extend to ten thousand rupees, and on any subsequent conviction with fine which may extend to twenty-five thousand rupees.
The offence at a glance
- Fine
- ₹25,000
- 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
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