S.I. No. 75/1940 - Actuary (Qualification) Regulations, 1940.

STATUTORY RULES AND ORDERS. 1940. No. 75.

ACTUARY (QUALIFICATION) REGULATIONS, 1940.

WHEREAS it is enacted by section 5 of the Insurance Act, 1936 (No. 45 of 1936), that the Minister for Industry and Commerce may by order make regulations in relation to any matter or thing referred to in the said Act as prescribed or to be prescribed and for the prescription of which no other provision is made by the said Act:

AND WHEREAS the matters or things to which these regulations relate are matters and things which are referred to in the said Act as prescribed or to be prescribed and for the prescription of which no other provision is made by the said Act:

NOW, the Minister for Industry and Commerce, in exercise of the powers conferred on him by the Insurance Act, 1936 (No. 45 of 1936), and of every and any other power him in this behalf enabling, hereby orders and makes the following regulations:—

1. These Regulations may be cited as the Actuary (Qualification) Regulations, 1940.

2. The Interpretation Act, 1937 (No. 38 of 1937), applies to these Regulations.

3. The qualifications for an actuary for the purposes of the Act are that such actuary shall be either—

(a) a Fellow or an Associate of either of the following, that is to say, the Institute of Actuaries, or the Faculty of Actuaries, or

(b) a person approved of by the Minister as a person having actuarial knowledge.

Given under the Official Seal of the Minister for Industry and Commerce, this 21st day of February, 1940.

R. C. FERGUSON,

Secretary,

Department of Industry and Commerce.