Financial System. GRANTEE shall establish and maintain a system of financial record keeping which complies with applicable laws, rules and regulations, and with generally accepted accounting principles relevant to entities receiving federal funds. GRANTEE shall maintain financial records adequate to show that funds paid under the AGREEMENT were used for purposes consistent with the terms of the AGREEMENT.
Financial System. 13.1.1 The Company’s chief financial officer is responsible for the Company’s financial management. The chief financial officer shall report to the Board and the general manager.
13.1.2 The Company’s general manager and chief financial officer shall formulate the financial accounting system and procedures of the Company in accordance with relevant Laws of China, Chinese Accounting Standards, and the business and financial procedures and requirements of Investor A and ChipMOS BVI. The accounting system and procedures to be adopted by the Company shall be submitted to the Board for approval. Upon approval of the Board, the Company shall submit the financial accounting system and procedures of the Company to the relevant departments for record (if necessary).
13.1.3 The Company shall use RMB as its currency for bookkeeping.
13.1.4 All accounting records, vouchers, books and statements of the Company shall be prepared and maintained in Chinese. The Parties shall have the right to inspect the Company’s accounts within the scope permitted by Company Law of China (the Company’s accounts shall be kept at the Company’s principal place of business), and Investor A or ChipMOS BVI may, at its costs, employ an external auditor to audit the Company’s accounts.
13.1.5 If a foreign currency conversion is required for the purposes of preparing the Company’s accounts and statements, the dividends declared to be distributed to the Parties and for other purposes, it shall be calculated on the basis of the averages of the buying and selling rates published by the People’s Bank of China at the date of actual payment and collection.
Financial System. No fees for the FoodNet Meta-cluster partners and associated members are foreseen up to the end of the FoodNet project (15th December 2019). Until this date each Partner intends to bear its own costs and expenditures that might be incurred in the course of implementing this agreement in terms of particular action or activity which will be initiated within the FoodNet, besides possible funding made available under the FoodNet project funding. As of 16th December 2019 the economic resources of the FoodNet Meta-cluster foreseen for the development of the aims and activities will be private contributions of all the partners and the attainment of public resources. Private:
1. Entrance fee: a fee that will be requested from new partners when joining the Partnership.
2. Membership fee: annual fixed fee requested from each Partner
Financial System. CONTRACTOR shall establish and maintain a system of financial record keeping which complies with applicable laws, rules and regulations, and with generally accepted accounting principles relevant to entities receiving federal funds. CONTRACTOR shall maintain financial records adequate to show that funds paid under the AGREEMENT were used for purposes consistent with the terms of the AGREEMENT.
Financial System. (1) The financial system of the Federal Republic of Germany shall be extended to the territory specified in Article 3 unless otherwise provided in this Treaty.
(2) Article 106 of the Basic Law shall apply to the apportionment of tax revenue among the Federation as well as the Länder and communes (associations of communes) in the territory specified in Article 3 of this Treaty with the proviso that 1. paragraph 3, fourth sentence, and paragraph 4 shall not apply up to 31 December 199411;
Financial System. (1) The financial system of the Republic of Kwangju shall be extended to the territory specified in Article 3 unless otherwise provided in this Treaty.
(2) Article 106 of the Basic Law shall apply to the apportionment of tax revenue among the Republic as well as the Provinces and Towns in the territory specified in Article 3 of this Treaty [ . . . ]
(3) [ . . . ] The Land share of turnover tax throughout Kwangju shall be divided up into an eastern component and a western component in such a way that the average share of turnover tax per inhabitant in 2013 to 55 per cent in 2014 to 60 per cent in 2015 to 65 per cent in 2016 to 70 per cent
(4) In the event of a fundamental change in conditions, the Republic and the Provinces shall jointly examine the possibilities of granting further assistance in order to ensure adequate financial equalization for the Provinces in the territory specified in Article 3 of this Treaty.
Financial System. 18.1 The financial system applicable to the Mining Company is that which is defined by the Mining Code in force at the date of signature of this Agreement.
18.2 Subject to the provisions of the Mining Code, of the applicable fiscal and customs legislation and the exchange regulations in force within the West African Economic and Monetary Union on the date of signature of this Agreement, the State guarantees the Mining Company, after the consent of its Board of Directors: • The right to borrow funds in Côte d’Ivoire or abroad under conditions freely negotiated with the lenders whether they be financial institutions or not, including the Mining Company’s shareholders, • The repayment of all loans contracted with lenders whether financial institutions or not, including shareholders of the Mining Company and Affiliated Companies and the free transfer abroad of the proceeds from the realisation of the guarantees of the aforesaid assistance by financial partners and shareholders of the Mining Company, • The free conversion and transfer abroad of the necessary funds in order to guarantee normal and current payments of the principal, interest, costs, bank charges, fees or any other payment of debt to their debtors and suppliers resident in another country, from bank accounts held in Côte d’Ivoire and abroad, • The free conversion and transfer abroad of dividends to be distributed to non-Ivorian shareholders and the transfer of all amounts allocated to the repayment of financing obtained from non-Ivorian institutions, and shareholders of the Mining Company, after payment of all taxes and duties envisaged in and payable by virtue of the regulations in force on the date of signature of this Agreement, • The free conversion and transfer abroad of profits and funds flowing from the sale or liquidation of assets belonging to the Mining Company after payment of all taxes and duties payable by virtue of the regulations in force on the date of signature of this Agreement, • The free conversion and transfer to their country of origin by expatriate personnel of the Mining Company of their salaries and wages or monies resulting from the liquidation of investments in Côte d’Ivoire or the sale of their personal effects as well as subscriptions to be made to retirement, insurance or medical aid funds abroad.
18.3 Notwithstanding the provisions of Article 18.2 above, the State authorises the Mining Company, in terms of this Agreement, to open bank accounts abroad in which the exp...
Financial System. 25.1 Subject to the provisions of the present Convention, the State guarantees, for the duration of the present Convention, to BHP, the limited liability company and their affiliates and sub-contractors :
a) free conversion and free transfer of funds destined to settle all debts (principal and interest) in foreign currency with regard to suppliers and creditors who are not nationals of Mali;
b) free conversion and free transfer of net profits to be distributed to non Malian partners and all sums allocated to the repayment of financing obtained from non Malian institutions and BHP affiliates, after payment of all duties and taxes laid down by the present Convention;
c) free conversion and free transfer of profits and funds originating from the liquidation of assets, after payment of levies, customs duties and taxes laid down by the present Convention.
25.2 In order to allow the limited liability company or BHP to meet its mining costs and to make payments to suppliers and creditors for goods and services purchased and loans contracted and to service possible dividends, within the framework of its activities, the limited liability company or BHP is authorised by the present Convention to pay into an offshore account in US dollars or any other convertible currency, the proceeds of its exports.
25.3 BHP and the limited liability company shall be authorised to open an account in foreign currency in Mali or abroad.
25.4 The State guarantees the free conversion and free transfer abroad of savings of expatriate staff working for BHP, the limited liability company, as well as their affiliates and sub-contractors, made on their salaries or resulting from the liquidation of investments in Mali or the sale of personal effects in Mali. In pursuance of Article 6 of Act N° 89-12 AN-RM of 9 February 1989. the State shall authorise its expatriate personnel residing in Mali to open accounts in foreign currency in Mali or abroad.
Financial System. 30.1 The Company shall establish a complete financial system in accordance with the relevant laws and regulations in China.
30.2 The fiscal year of the Company shall begin from January 1 each calendar year and end on December 31 of the same year in accordance with the Gregorian calendar.
30.3 All internal accounting documents, accounts and statements of the Company shall be written in Chinese and English.
30.4 The Company will provide Sina with such accounting and financial information that is reasonably requested by Sina for preparation of consolidated financial statements for Sina's affiliated group in accordance with U.S. GAAP; if the Company incurs any additional expenses in connection with the provision of such information, Sina shall reimburse such expenses.
Financial System. 39. The board of directors shall formulate the company’s accounting system in accordance with the regulations set by the Finance Ministry of China, taking into consideration the requirement of the company.
40. Various reports shall be submitted to the parties before the 10th of following calendar month, whereas year-end report shall be submitted at the end of the following month after the end of year, and audited by Chinese auditors appointed by the company. All reports shall be extended to the relevant departments, including the statistics department, of the company for record purpose.
41. The JVCo shall adopt ‘credit & debit’ method for keeping accounts, to be written in Chinese language and in Renminbi denomination and other currencies shall be converted to Renminbi at the rate published by Bank of China. Currency used in trading shall be calculated based on trading exchange rate, whereas transmission of fund in and out of the country shall comply with the foreign exchange control regulations of China.
42. The JVCo shall engage Chinese auditors for auditing of accounts, and such audited accounts shall be submitted to the shareholders’ meetings, the board of directors and the General Manager.
43. The JVCo shall maintain Renminbi and foreign currency bank accounts with local branch of Bank of China.
