Section 3(2) in The Insurance Regulatory And Development Authority (Appointed Actuary) Regulations, 2000
(2)A person shall be eligible to be appointed as an appointed actuary for an insurer, if he or she shall be-(i)ordinarily resident in India;(ii)a Fellow Member of the Actuarial Society of India;(iii)an employee of the life insurer, in case of life insurance business;(iv)an employee of the insurer or a consulting actuary, in case of general insurance business;(v)a person who has not committed any breach of professional conduct;(vi)a person against whom no disciplinary action by the Actuarial Society of India or any other actuarial professional body is pending;(vii)not an appointed actuary of another insurer;(viii)a person who possesses a Certificate of Practice issued by the Actuarial Society of India; and(ix)not over the age of seventy years.
