Section 44 in The Actuaries Act, 2006
Title: Functions of Board
The Board shall perform the following functions, namely:--
(a) to fix standards for the services provided by the members of the Institute;
(b) to review the quality of services provided by the members of the Institute including actuarial audit services; and
(c) to guide the members of the Institute to improve the quality of services and adherence to the various statutory and other regulatory requirements.
Title: Procedure of Board
The Board shall follow in its meeting and in discharging its functions such procedure as may be prescribed.
Title: Terms and conditions of Chairperson and Members of Board
The terms and conditions of service of the Chairperson and the Members of the Board, their place of meetings, remuneration and allowances shall be such as may be prescribed.
Title: Expenditure of Board
The expenditure of the Board shall be borne by the Council.
Title: Dissolution of Actuarial Society of India
On the appointed day,--
(a) the Society known as the Actuarial Society of India registered under the Societies Registration Act, 1860 (21 of 1860) and the Bombay Public Trusts Act, 1950 (Bombay Act XXXIX of 1950) shall stand dissolved and thereafter no person shall make, assert or take any claims or demands or proceedings against the dissolved society or against any officer thereof in his capacity as such officer except in so far as may be necessary, for enforcing the provisions of this Act;
(b) the right of every member to, or in respect of, the dissolved society shall be extinguished, and thereafter no member of the society shall make, assert or take any claims or demands or proceedings in respect of that society except as provided in this Act.