The objectives of these Rules are to regulate the following:
| 1. | Minimum standards for the licensing of Actuarial Services Providers.
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| 2. | Minimum standards of actuarial work within the Kingdom.
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| 3. | Minimum standards for the role and responsibilities of Appointed Actuaries, and procedures for their appointment.
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| 4. | Minimum standards for the Actuarial Function of Insurance and/or Reinsurance companies within the Kingdom, and where relevant, the Head of Actuarial Function.
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| 5. | Responsibilities of the Company, Board of Directors and Senior Management in respect of the Appointed Actuary and Actuarial Function’s work.
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