Bombay HC upholds validity of Regulation 10 of Institute of Actuaries of India (Admission as Member and Issuance of Certificate of Practice) Regulations, 2017
The Court opined that Regulation 10 permitted only Fellow Members to apply for Certificate of Practice because Fellow Members possessed higher qualifications than Associate Members by passing additional examinations and there is not only an intelligible differentia between Associate Members and Fellow Members but there is a rational nexus to the object sought to be achieved by the said classification.