STATUTE

Given the Royal Decree 10.10.1929, n. 1847 with which the Italian Institute of Actuaries was established as a non-profit organization with the aim of promoting actuarial studies and those relating to the insurance technique and its statute was approved;

Given the Presidential Decree 21.7.1959, n. 755, with which the new statute of the Italian Institute of Actuaries was approved and in particular art. 28, second paragraph, which establishes that the amendments to the same statute enter into force on the day following the publication of the relative decree of approval by the President of the Republic, after hearing the opinion of the Council of State;

Given the law 12.1.1991, n. 13, containing “Determination of the administrative acts to be adopted in the form of the decree of the President of the Republic”;

Given the letter from the Italian Institute of Actuaries dated 28.12.200 with which the new statute was transmitted, already approved by the shareholders’ meeting of 20.5.1999, for the purposes of the relative ministerial approval;

Decrees

The new statute of the Italian Institute of Actuaries is approved, according to the authenticated text and deposited at the Ministry of Productive Activities – Directorate General for Commerce, Insurance and Services, as requested by the Institute itself.

Rome, September 20, 2001

The general director

Dr. Piero Antonio Cinti

*******************************************

TITLE I – HEADQUARTERS AND AIMS

Art. 1 – Purpose of the Institute .

The Italian Institute of Actuaries, based in Rome, has the purpose of promoting actuarial and financial studies and those relating to insurance techniques. To this end it:
a) organizes seminars and periodic scientific meetings, which can be attended by all members;
b) promotes courses for permanent actuarial training as well as courses on disciplines that can contribute to the scientific and practical development of insurance;
c) establishes within it commissions with specific tasks;
d) takes care of the periodic publication of the Institute’s newspaper as well as the publication of volumes and magazines on the subjects of interest should it deem it appropriate;
e) establishes a specialized library;
f) organizes, also through an investee company, the courses referred to in letter b) as well as congresses for the discussion of the problems of the actuarial and financial sciences having a scientific and / or professional nature;
g) announces prize competitions for the treatment of special topics and for the assignment of scholarships;
h) promotes initiatives whose purpose is to disseminate and increase actuarial and financial studies;
i) participates with its own representatives in national and international commissions, with specific reference to actuarial disciplines;
l) carries out research and prepares studies in the subjects of interest on behalf of public or private institutions and bodies;
m) manages relations with the International Actuarial Association, with the Actuarial Associations of other countries and with other national or international Associations relating to the actuarial, insurance and financial sector;
n) establishes research groups on topics of general interest in the actuarial field.

TITLE II – OF THE SHAREHOLDERS

Art. 2 – Categories of members.

The Institute includes the following four categories of members:
a) effective shareholders;
b) participating members;
c) aspiring members;
d) corporate members.
Corresponding and honorary members may also be appointed as established by Articles 7 and 8.

Art. 3 – Effective members.

In the category of effective members, the following may be admitted:
a) aspiring members referred to in point a) of Art. 5 once they have obtained the qualification to exercise the profession of actuary;
b) the aspiring members referred to in point b) of Art. 5 at the age of thirty or in advance upon request;
c) those who possess the legal requirements for registration in the National Register of Actuaries;
d) the effective members of an Actuarial Association of EU countries which is a member of the Advisory Group of Actuarial Associations of EU countries;
the effective members of an Actuarial Association of a country not belonging to the EU effective member of the International Actuarial Association.

Art. 4 – Adhering members.

In the category of member members, scholars of actuarial, financial, economic and legal subjects pertaining to the insurance and social security and assistance sectors recognized as suitable by the Institute’s Board of Directors may be admitted.
The aspiring members referred to in point a) of Art. 5 after at least two years of belonging to the Institute.