Compliance Committee of NSX Sample Clauses

Compliance Committee of NSX. (1) NSX agrees that the Compliance Committee will always consist of a majority of Compliance Committee Members who are independent. (2) NSX agrees that the terms of engagement of each Compliance Committee Member who is an independent Compliance Committee Member, will ensure that every independent Compliance Committee Member is, and continues to be, independent from the commercial operations of NSX. (3) Without limitation to paragraphs (1) and (2), NSX agrees to ensure that: (a) each person who is a independent Compliance Committee Member does not, and will not, have a relevant interest in shares or securities in NSX as long as the person remains a independent Compliance Committee Member; (b) no independent Compliance Committee Member is remunerated by NSX except in the Compliance Committee Member's capacity as a member of the Compliance Committee or for professional skills and services rendered to NSX; (c) each person who is a independent Compliance Committee Member is obliged to meet the director integrity standards set out in clause 10.22 of NSX's constitution. (4) NSX also agrees to give ASIC one (1) month's prior written notification when the composition of the independent Compliance Committee Members is to change, or a change in the Compliance Committee's role is contemplated.
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Related to Compliance Committee of NSX

  • COMPLIANCE COMMITTEE (1) Within thirty (30) days of the date of this Agreement, the Board shall appoint a Compliance Committee of at least three (3) directors, of which no more than one (1) shall be an employee or controlling shareholder of the Bank or any of its affiliates (as the term “affiliate” is defined in 12 U.S.C. § 371c(b)(1)), or a family member of any such person. Upon appointment, the names of the members of the Compliance Committee and, in the event of a change of the membership, the name of any new member shall be submitted in writing to the Assistant Deputy Comptroller. The Compliance Committee shall be responsible for monitoring and coordinating the Bank's adherence to the provisions of this Agreement. (2) The Compliance Committee shall meet at least monthly. (3) Within sixty (60) days of the date of this Agreement and quarterly thereafter, the Compliance Committee shall submit a written progress report to the Board setting forth in detail: (a) a description of the action needed to achieve full compliance with each Article of this Agreement; (b) actions taken to comply with each Article of this Agreement; and (c) the results and status of those actions. (4) The Board shall forward a copy of the Compliance Committee's report, with any additional comments by the Board, to the Assistant Deputy Comptroller within ten (10) days of receiving such report.

  • File Management and Record Retention relating to CRF Eligible Persons or Households Grantee must maintain a separate file for every applicant, Eligible Person, or Household, regardless of whether the request was approved or denied. a. Contents of File: Each file must contain sufficient and legible documentation. Documents must be secured within the file and must be organized systematically.

  • Performance or Compliance Audits The Department may conduct or have conducted performance and/or compliance audits of the Contractor and subcontractors as determined by the Department. The Department may conduct an audit and review all the Contractor’s and subcontractors’ data and records that directly relate to the Contract. To the extent necessary to verify the Contractor’s fees and claims for payment under the Contract, the Contractor’s agreements or contracts with subcontractors, partners, or agents of the Contractor, pertaining to the Contract, may be inspected by the Department upon fifteen (15) calendar days’ notice, during normal working hours and in accordance with the Contractor’s facility access procedures where facility access is required. Release statements from its subcontractors, partners, or agents are not required for the Department or its designee to conduct compliance and performance audits on any of the Contractor’s contracts relating to this Contract. The Inspector General, in accordance with section 5.6, the State of Florida’s Chief Financial Officer, and the Office of the Auditor General shall also have authority to perform audits and inspections.

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