A natural person applying for licensing and registration in the Register as an Actuary must satisfy the following conditions:

1. Hold any of the following qualifications:
    
   1. Fellowship or equivalent, by successfully passing the required examinations for such qualification as required by institutes or institutions specialized in actuarial studies and approved by the IA in accordance with Article (12) of these Regulations.
       
   2. Associateship or equivalent, by successfully passing the required examinations for such qualification as required by institutes or institutions specialized in Actuarial Studies and approved by the IA in accordance with Article (12) of these Regulations, and having a practical experience of no less than two years under the supervision of an Actuary holding the Fellowship or Associateship qualification.
       
2. Have full legal capacity and be no less than 25 years of age.
    
3. Have not been convicted with a felony or misdemeanor involving moral turpitude, trustworthiness or against public morals, or have been declared bankrupt and not rehabilitated.
    
4. His membership for practicing the Actuary profession has never been suspended or cancelled by any entity as a disciplinary penalty, unless the membership was restored by such entity.
    
5. Provide a professional liability insurance policy in accordance with the provisions of these Regulations, issued by a company licensed by and registered with the IA.
    
6. Comply with the laws, Regulations, Instructions and Decisions issued the Authority and other relevant legislation.