PRINCIPLES AND INTERPRETATION Sample Clauses

PRINCIPLES AND INTERPRETATION. 2.1 This MOU sets out certain administrative and operational arrangements among the four regulators regarding the exercise of their respective functions under the Ordinance concerning the regulation of regulated persons. 2.2 Subject to applicable laws and the FRs’ respective regulatory regimes, this MOU is one of various measures for ensuring, as far as possible, regulatory consistency and a level playing field in the regulation of regulated persons by the four regulators. 2.3 The FRs will use their best endeavours to follow the arrangements set out in this MOU in a manner consistent with their respective regulatory regimes, in recognition of the institution-based approach which has been adopted for the regulation of regulated persons. 2.4 This MOU is subject to, and does not modify or replace, any applicable laws, rules and regulatory requirements and does not create any rights enforceable by the parties or by any third party. 2.5 Unless otherwise specified, the following abbreviations are used in this MOU:
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PRINCIPLES AND INTERPRETATION. 5. The Parties recognise the following principles: (a) the Parties will use their best endeavours to meet the terms of this GWS MoU; (b) for entities or financial groups in which both Parties have a mutual regulatory interest, the Parties will use their best endeavours to ensure that there are no gaps in regulatory supervision and to eliminate unnecessary duplication of supervisory effort; and (c) to the extent permitted by applicable laws, each Party will use reasonable efforts to ensure that the other Party is provided with all relevant information so that the other Party may effectively perform its statutory functions. 6. The Parties also recognise the following overriding principles: (a) this GWS MoU operates subject to the applicable laws and regulations and does not modify or supersede any law or regulation; (b) this GWS MoU does not detract from the respective functions of the Parties under the relevant Ordinances including the Banking Ordinance (Cap. 155) (“BO”), the Payment Systems and Stored Value Facilities Ordinance (Cap. 584) (“PSSVFO”) and the IO; (c) this GWS MoU does not amount to a delegation of any of the powers, duties and obligations of the Parties; (d) this GWS MoU does not create, directly or indirectly, any rights, obligations or liabilities, enforceable by the Parties or by any third parties, and is not legally binding; (e) this GWS MoU does not affect any arrangements under any other memorandum of understanding that either Party has entered into or may enter into with any other party; and (f) this GWS MoU does not affect the arrangements under the First MoU, and this GWS MoU shall be construed accordingly. 7. Unless otherwise specified, terms defined in the IO bear the same meanings when used in this GWS MoU. 8. For the purpose of this GWS MoU, “HKMA regulated entities” may include authorized institutions (“AIs”) and approved money brokers (each term as defined in the BO), system operators or settlement institutions of designated systems (each term as defined in the PSSVFO), and stored value facility licensees licensed under the PSSVFO.
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Related to PRINCIPLES AND INTERPRETATION

  • Conflicts and Interpretation In the event of any conflict between this Agreement and the Plan, the Plan shall control. In the event of any ambiguity in this Agreement, any term which is not defined in this Agreement, or any matters as to which this Agreement is silent, the Plan shall govern including, without limitation, the provisions thereof pursuant to which the Committee has the power, among others, to (a) interpret the Plan, (b) prescribe, amend and rescind rules and regulations relating to the Plan, and (c) make all other determinations deemed necessary or advisable for the administration of the Plan.

  • Principles of Interpretation The following principles of interpretation apply to this Settlement Agreement:

  • Construction and Interpretation Should any provision of this Agreement require judicial interpretation, the parties hereto agree that the court interpreting or construing the same shall not apply a presumption that the terms hereof shall be more strictly construed against one party by reason of the rule of construction that a document is to be more strictly construed against the party that itself, or through its agent, prepared the same, and it is expressly agreed and acknowledged that Company and Executive and each of his and its representatives, legal and otherwise, have participated in the preparation hereof.

  • Captions and Interpretation The captions used in this Agreement are for convenience only. They do not affect the meaning of the paragraphs in this Agreement.

  • Definitions and Interpretation 1.1 In this Agreement:

  • Definitions and Interpretations The terms "specifically approved at least annually," "vote of a majority of the outstanding voting securities," "assignment," "affiliated person," and "interested person," when used in this Agreement, shall have the respective meanings specified, and shall be construed in a manner consistent with, the Investment Company Act of 1940 and the rules and regulations promulgated thereunder. Any question of interpretation of any term or provision of this Agreement having a counterpart in or otherwise derived from a term or provision of the Investment Company Act of 1940, the Investment Advisers Act of 1940, the Securities Act of 1933, or the Securities Exchange Act of 1934 (collectively, the "Federal Securities Acts") shall be resolved by reference to such term or provision of the Federal Securities Acts and to interpretations thereof, if any, by United States federal courts or, in the absence of any controlling decisions of any such court, by rules or regulations of the Securities and Exchange Commission. Where the effect of a requirement of the Federal Securities Acts reflected in any provision of this Agreement is revised by rule or regulation of the Securities and Exchange Commission, such provisions shall be deemed to incorporate the effect of such rule or regulation.

  • Defined Terms and Interpretation 1.1 In this Agreement, save where the context requires otherwise, the following words, terms and expressions shall have the following meanings:

  • Headings and Interpretation Headings and sub-headings in this Agreement are inserted for reference and convenience only and shall not be deemed part of this Agreement. Wherever the fulfillment of the intent and purpose of this Agreement requires and the context will permit, the use of the masculine gender includes the feminine and use of the singular includes the plural.

  • Definition and Interpretation 1.1 Except as otherwise defined in the terms or context hereof, the following terms in this Agreement shall have the following meanings:

  • Captions and Interpretations Paragraph headings in this Agreement are used solely for convenience, and shall be wholly disregarded in the construction of this Agreement. No provision of this Agreement shall be interpreted for or against a party because that party or its legal representative drafted such provision, and this Agreement shall be construed as if jointly prepared by the Parties.

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