Actuarial Societies - Law Dictionary Search Results
Home Dictionary Name: actuarial societiesActuarial Societies
Actuarial Societies, means the Actuarial Society of India registered under the Societies Registration Act, 1860 (21 of 1860) and the Bombay Public Trust Act, 1950 [Bombay Act XXXIX of 1950, s. 2(b)]....
Actuary
Actuary, a registrar of a public body. Also a clerk who registers the acts and constitutions of the Lower House of Convocation; or a registrar in a Court Christian. Especially a person skilled in calculating the value of life interests, annuities, and insurances. The (English) Local Government and other Officers' Superannuation Act, 1922 (12 & 13 Geo. 5, c. 59), defines actuary as meaning a fellow of the Institute of Actuaries or the Faculty of Actuaries in Scotland. The Institute of Actuaries was formed in 1848 and incorporated by royal charter on July 29, 1884.An actuary possessing such qualifications as may be by regulations made by authority. [Insurance Act (4 of 1938), s. 2(a)]Means a person skilled in determining the present effects of future contingent events or in finance modelling and risk analysis in different areas of insurance, or calculating the value of life interests and insurance risks, or designing and pricing of policies, working out the benefits, recommending rates r...
actuarial
actuarial 1 : of or relating to actuaries 2 : relating to statistical calculation esp. of life expectancy ac·tu·ar·i·al·ly adv ...
actuary
actuary pl: -ar·ies : a person who calculates insurance and annuity premiums, reserves, and dividends ...
Incorporated Law Society
Incorporated Law Society, now termed the Law Society, was founded by Mr. Bryan Holme in 1825, and incorporated in 1831 by Royal Charter; this was surrendered for a new Charter in 1845, by which, as amended by Supplemental Charters in 1872, 1903, and 1909, the Society now remains constituted. The Society was incorporated 'to facilitate the acquisition of legal knowledge, and for better and more conveniently discharging the professional duties of the members of the Society,' under the full title of 'The Society of Attorneys, Solicitors, Proctors, and others not being Barristers practicing in the Courts of Law and Equity of the United Kingdom'; since the charter of 1903 it has been officially (as before them commonly) called 'The Law Society.'The Society first instituted lectures for students in 1833, and was made registrar of attorneys and solicitors in 1843 by the (English) Solicitors Act, 1843 (6 & 7 Vict. c. 73), s. 21.On the decay of the Inns of Chancery, which in their later aspect ...
Building societies
Building societies, associations of persons subscribing to a common fund which is employed in making advances to such members (called 'advanced members') as desire to obtain them on the security of real or leasehold property, while those members who do not desire an advance (called 'investing members' ) simply pay their contributions to the society and receive interest thereon. Building societies are either (a) Unincor-porated, or (b) Incorporated. Unincorporated societies (now few in number) are governed by the (English) Building Societies Act of 1836 (6 & 7 Wm. 4, c. 32), and certain sections of the old (English) Friendly Societies Acts of 1829 and 1835 (repealed for all other purposes) incorporated therewith. Incorporated societies are governed by the (English) Building Societies Acts, 1874 to 1894, and the (English) Building Societies Regulations, 1895, made thereunder. A cross division of these societies is into (1) Terminating, and (2) Permanent. A Terminating Society is one whic...
Society
Society. Associations designated by the name of 'society' include (1) Building Societies, regulated by the (English) Building Societies Acts, as to which see BUILDING SOCIETIES; (2) Friendly Societies, regulated by the Friendly Societies Act, 1896, as to which see FRIENDLYSOCIETIES; (3) Industrial and Provident Societies, regulated principally by the Industrial and Provident Societies Act, 1893, as to whichs see INDUSTRIAL AND PROVIDENT SOCIETIES; (4) Loan Societies, regulated by 3 & 4 Vict. c. 110, as to which see LOAN SOCIETIES; (5) Literary and Scientific Societies, regulated by the (English) Literary and Scientific Institutions Act, 1854. And exempted from rates by 6 & 7 Vict. c. 36, as to which see that title; and other benevolent or useful societies, e.g., see (English) Companies Act, 1929, s. 18, and (6) Illegal Societies, prohibited by the Unlawful Societies Act, 1799, and the very similar (English) Seditious Meetings Act, 1817, as to which see SEDITIOUS, and Chitty's Statutes,...
Friendly societies
Friendly societies, associations supported by subscription for the relief and maintenance of the members or their wives, children, relations, and nominees, in sickness, infancy, advanced age, widowhood, etc. by the Friendly Societies Act, 1875 (38 & 39 Vict. c. 60), various prior statutes regulating these societies were in whole or in part repealed, and the law consolidated and amended. Such societies may be formed for providing payments on birth of a member's child, or on death of a member, or for relief and maintenance of members and their husbands, wives, children, etc., in old age or sickness, the endowment of members at any age, the insurance of tools against fire, or of cattle, for working men's clubs, or for any other purpose authorized by the Treasury. Before any such society can be properly established, its rules must have been transmitted to and approved of by the central office for the registration of Friendly Societies. The Act was amended in 1876 by 39 & 40 Vict. c. 32 as ...
Industrial and Provident Societies
Industrial and Provident Societies. The (English) Statutes regulating these societies, 25 & 26Vict. c. 87, 30 & 31 Vict. c. 117, and 34 & 35 Vict. c. 80, were consolidated by the Industrial and Provident Societies Act, 1876 (39 & 40 Vict. c. 45), which by s. 6 provided for the registration of societies 'for carrying on any labour, trade, or handicraft, in-cluding the buying or selling of land, of which no member shall claim an interest in the funds exceeding 200l.'This Act was repealed and re-enacted with amend-ment by the (English) Industrial and Provident Societies Act, 1893 (56 & 57 Vict. c. 39), which pro-vides for the registration as an industrial and provident society of any society for carrying on any 'industries, businesses, trades specified in or authorized by its rules, whether wholesale or retail, and including dealings of every description with land,' but enacts that no member other than a registered society shall have any interest in the shares exceeding 200l. and contains...
Co-operative society
Co-operative society, means a co-operative society registered under the Co-operative Societies act, 1912, or under any other law for the time being in force in any State for the registration ofco-operative societies. [Wealth-tax Act, 1957(27 of 1957), s. 2 (ha)]Means a society registered or deemed to be registered under any law relating to co-operative societies for the time being in force in any State. [Multi-State Co-operative Societies Act, 2002 (39 of 2002), s. 3 (h)]Means a society registered or deemed to be registered under the Co-operative Societies Act, 1912, or any other law for the time being in force in any State relating to co-operating societies. [Payment of Bonus Act, 1965 (21 of 1965), s. 2 (10)]The expression 'co-operative society' in cl. 2 of the scheme meant only a consumers co-operative society and no other, Sarkari Sasta Anaj Vikreta Sangh v. State of Madhya Pradesh, (1981) 4 SCC 471: AIR 1981 SC 2030 (2035). [Madhya Pradesh Foodstuffs Civil Supply Distribution Sche...
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