Financial Daily from THE HINDU group of publications
Wednesday, Dec 10, 2003
Financial Daily from THE HINDU group of publications Wednesday, Dec 10, 2003 |
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Money & Banking
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Insurance Panel against allowing corporates into actuarial profession Our Bureau
New Delhi , Dec. 9 GIVING its assent to the Actuaries Bill, 2002, the Standing Committee on Finance has said that it was in agreement with the Government that corporate entities should not be allowed to enter the profession. "This (not allowing corporates to take up actuarial work) will be in tune with the other enactments regulating professional bodies such as the Institute of Chartered Accountants of India, Institute of Cost and Works Accountants of India and the Institute of Company Secretaries," the committee has said. However, the committee has said that the employees of companies may be allowed to act as actuaries in practice under the proposed legislation. The legislation proposes to set up an Institute of Actuaries of India to regulate the actuarial profession in the country that is expected to grow after the insurance sector has been opened up.
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