Actuaries Bill reintroduced in Lok Sabha

New Delhi, July 28 (UNI) Minister of State for Finance Pawan Kumar Bansal today reintroduced the Actuaries Bill, 2005 in the Lok Sabha for discussion and passage.

Introducing the bill, Mr Bansal said the profession is a very specialised area and it needs professional people to manage it in the counry.

He said the bill aims to replace the Actuaries' Association with a different authority like the Institute of Chartered Accountants, Institute of Company Secretaries and similar other organisations.

''This body will be providing specific course to the students to make them professionally competent. It would also be responsible for holding any such examinations to evaluate the quality of education and the standards of the students,'' he said, adding that there will be a provision to have annual general body meeting of this organisation every year and one third of its members would retire by rotation every year.

Supporting the bill, P S Gadhvi (BJP) said it is a very important bill for the healthy growth of actuaries in the counry.

''On a rough estimate, nearly 10,000 Actuaries would be required in the counry by 2010 and 15,000 by 2015,'' he said.

The discussion remained inconclusive and the bill could not be passed as the house had to take up the Private Members' Bills.

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