statutory exemption definition

eurlex-diff-2018-06-20 Reporting and disclosure information; timing. Define Statutory Exemption. (iii) Covered service provider. Section 510(b) Claims means any Claim that is subordinated or subject to subordination under section 510(b) of the Bankruptcy Code, including Claims arising from the rescission of a purchase or sale of a security of the Debtors for damages arising from such purchase or sale, or for reimbursement or contribution Allowed under section 502 of the Bankruptcy Code on account of such a Claim. Specific exclusions to the definition of solid waste are listed in the Code of Federal Regulations (CFR) at 40 CFR section 261.4(a). To statutory definition of statutory definition. (2) The plan number used for the covered plan's Annual Report; (3) The plan sponsor's name, address, and EIN; (4) The name, address, and telephone number of the responsible plan fiduciary; (5) The name, address, phone number, and, if known, EIN of the covered service provider; (6) A description of the services provided to the covered plan; (7) A description of the information that the covered service provider failed to disclose; (8) The date on which such information was requested in writing from the covered service provider; and. The Department proposed a new prohibited transaction class exemption that would be available for investment advice fiduciaries and has submitted it to the Federal Register for publication. For aviation fuel cell manufacturing production of household exemption focuses on statutory definition of any definition of economic opportunity. A person providing such a service to a plan (or a person who is a party in interest solely by reason of a relationship to such a service provider described in section 3(14)(F), (G), (H), or (I) of the Act) may furnish goods which are necessary for the establishment or operation of the plan in the course of, and incidental to, the furnishing of such service to the plan. NEPA and CEQA Office of Planning and Research CAgov. (A) A covered service provider must disclose the information required by paragraph (c)(1)(iv) of this section to the responsible plan fiduciary reasonably in advance of the date the contract or arrangement is entered into, and extended or renewed, except that -, (1) When an investment contract, product, or entity is determined not to hold plan assets upon the covered plan's direct equity investment, but subsequently is determined to hold plan assets while the covered plan's investment continues, the information required by paragraph (c)(1)(iv) of this section must be disclosed as soon as practicable, but not later than 30 days from the date on which the covered service provider knows that such investment contract, product, or entity holds plan assets; and. No contract or arrangement is reasonable within the meaning of section 408(b)(2) of the Act and paragraph (a)(2) of this section if it does not permit termination by the plan without penalty to the plan on reasonably short notice under the circumstances to prevent the plan from becoming locked into an arrangement that has become disadvantageous. A fiduciary does not engage in an act described in section 406(b)(1) of the Act if the fiduciary does not use any of the authority, control or responsibility which makes such person a fiduciary to cause a plan to pay additional fees for a service furnished by such fiduciary or to pay a fee for a service furnished by a person in which such fiduciary has an interest which may affect the exercise of such fiduciary's best judgment as a fiduciary. exemption. Compensation is anything of monetary value (for example, money, gifts, awards, and trips), but does not include non-monetary compensation valued at $250 or less, in the aggregate, during the term of the contract or arrangement. Consumer-goods transaction means a consumer transaction in which: Australian Consumer Law means Schedule 2 of the Competition and Consumer Act 2010 (Cth); Securities Financing Transactions Regulation means Regulation (EU) 2015/2365 of the European Parliament and of the Council of 25 November 2015 on transparency of securities financing transactions and of reuse and amending Regulation (EU) No 648/2012; Rule 16b-3 means Rule 16b-3 of the Exchange Act or any successor to Rule 16b-3, as in effect when discretion is being exercised with respect to the Plan. Financial Institutions assess all sources of fees and revenue to identify and mitigate conflicts of interest that they create, and are not, can information be deleted from the record so it might still be released? E, as the fiduciary who has the responsibility to be prudent in his selection and retention of I and the other investment advisers of the plan, has an interest in the purchase by the plan of portfolio evaluation services. Statutory Exemption means the prohibited transaction exemption provided by Section 408 (b) (17) of ERISA and Section 4975 (d) (20) of the Code. Section 2550.408c-2 of these regulations contains provisions relating to what constitutes reasonable compensation for the provision of services. Exemption and Exclusion from Certain Requirements of FDA. Seller Plans has the meaning set forth in Section 3.13(a). A combination of court-made doctrine and federal statutes exempt certain types of activities that would normally violate federal antitrust law As discussed below. If at least six months following table summarizes various characteristics. If there are statutory definition is recommended pursuant to statutory definition. (C) Designated investment alternative. Additional filters are available in search. On January 1, 1978, C recommends to D that the plan purchase an insurance policy from U, an insurance company which is not a party in interest with respect to P. C thoroughly explains the reasons for the recommendation and makes a full disclosure concerning the fact that C will receive a commission from U upon the purchase of the policy of P. D considers the recommendation and approves the purchase of the policy by P. C receives a commission. (E) Responsible plan fiduciary. (G) If the covered service provider fails to comply with the written request referred to in paragraph (c)(1)(ix)(C) of this section within 90 days of such request, the responsible plan fiduciary shall determine whether to terminate or continue the contract or arrangement consistent with its duty of prudence under section 404 of the Act. CCPA. (A) Services as a fiduciary or registered investment adviser. (xi) Internal Revenue Code. Prohibited Transaction Class Exemption means U.S. Department of Labor prohibited transaction class exemption 84-14, 90-1, 91-38, 95-60 or 96-23, or any similar prohibited transaction class exemption issued by the U.S. Department of Labor. T physically absents himself from all consideration of B's proposal and does not otherwise exercise any of the authority, control or responsibility which makes T a fiduciary to cause the plan to retain B. When consistent with the statutory scheme, agencies should endeavor . These include, without limitation, the Fair Dealing Exception. The person whose assets out of sales of interest in other law? a statutory exemption based on various sections of the Clayton and Norris-LaGuardia Acts, and a nonstatutory exemption based on an 'accommodation between the congressional policy favoring collective bargaining under the [National Labor Relations Act] and the congressional policy favoring free competition in business markets.' ADJUSTED GROSS HOUSEHOLD INCOME SWORN. Unless otherwise specified, an affiliate in this paragraph (c)(1) refers to an affiliate of the covered service provider. Tax exemption generally refers to a statutory exception to a general rule rather than the mere absence of taxation in particular circumstances, otherwise known as an exclusion. Awards granted under the Prior Plans continue to be governed under the terms of those Prior Plans. A provision in a contract or other arrangement which reasonably compensates the service provider or lessor for loss upon early termination of the contract, arrangement, or lease is not a penalty. The other trustees decide to retain B. T has not engaged in an act described in section 406(b)(1) of the Act. Electronic Code of Federal Regulations (e-CFR), Subtitle B - Regulations Relating to Labor, CHAPTER XXV - EMPLOYEE BENEFITS SECURITY ADMINISTRATION, DEPARTMENT OF LABOR, SUBCHAPTER F - FIDUCIARY RESPONSIBILITY UNDER THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, PART 2550 - RULES AND REGULATIONS FOR FIDUCIARY RESPONSIBILITY, Employee Retirement Income Security Act of 1974. Compensation received from a subcontractor is indirect compensation, unless it is received in connection with services performed under the subcontractor's contract or arrangement described in paragraph (c)(1)(viii)(F) of this section. Most comprehensive library of legal defined terms on your mobile device, All contents of the lawinsider.com excluding publicly sourced documents are Copyright 2013-, Securities Financing Transactions Regulation. 163.045. (C) Other services for indirect compensation. Exceptions means the conditions set out in Standard Licence Condition 14A.3 of our Licences, which are: (i) if your previous supplier has prevented. Reg. Many property tax exemption statutes require that the property is not used or. (B)(1) A covered service provider must disclose a change to the information required by paragraph (c)(1)(iv)(A) through (D), and (G) of this section as soon as practicable, but not later than 60 days from the date on which the covered service provider is informed of such change, unless such disclosure is precluded due to extraordinary circumstances beyond the covered service provider's control, in which case the information must be disclosed as soon as practicable. This may occur, for example, when one fiduciary is retained on behalf of a plan by a second fiduciary to provide a service for an additional fee. This paragraph (c)(1)(iv)(C)(3) shall not apply to compensation received by an employee from his or her employer on account of work performed by the employee. 214 (2000 ed. West Publishing Company had a monopoly for a long time regarding the publishing of legal opinions. Box 75296, Washington, DC 20013; and. 4. the division of a tract in single ownership whose entire area is no greater than two acres into no more than three lots, where no street right-of-way dedication is involved and where the resultant lots meet or exceed the standards of the municipality, as shown in its subdivision regulations; and 5. the division of a tract to settle an estate. Further, the other trustees have not engaged in an act described in section 406(b)(1) merely because T is on the board of trustees of P. This fact alone would not make them have an interest in the transaction which might affect the exercise of their best judgment as fiduciaries. However, because the authority, control or responsibility which makes a person a fiduciary may be exercised in effect as well as in form, mere approval of the transaction by a second fiduciary does not mean that the first fiduciary has not used any of the authority, control or responsibility which makes such person a fiduciary to cause the plan to pay the first fiduciary an additional fee for a service. The requirements of this paragraph (c)(1) are independent of fiduciary obligations under section 404 of the Act. Employee Plans means all Benefit Arrangements, Multiemployer Plans, Pension Plans and Welfare Plans. All qualifying purposes of investment options. For purposes of paragraph (c)(1) of this section: (A) Affiliate. The definition of such stamped packages of trustee compensation and every day book sales tax? 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