Actual Beneficiary definition

Actual Beneficiary means the natural person who ultimately owns or controls the Legal Person, or the natural person in whose name an activity is carried out or a transaction is made and/or who has, directly or indirectly, the right of ownership or control over at least 25% of the shares or voting right of the Legal Person or over the assets subject to trust management, and, as appropriate, the persons who have effective control of the Legal Person, thus identified in accordance with the criteria set forth in the Applicable Laws.
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Actual Beneficiary. : means the natural person who owns or exercises substantial control on the client or the person on whose behalf the transactions are conducted, including a person exercising substantial control over a JP or a legal arrangement.
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Actual Beneficiary in relation to the Client, means the ultimate beneficiary of the Account or, where the Client is a company or body corporate, the individuals who are the ultimate beneficial owners of the share capital of the company or body corporate, and includes a beneficiary holding an interest through a nominee or trust;
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Examples of Actual Beneficiary in a sentence

  • Collecting and Maintaining Actual Beneficiary Data: Actual beneficiary data by racial or ethnic category for each site under a sponsor’s jurisdiction are to be collected by the sponsor each year.

  • If CMS determines that at least one beneficiary was either directly adversely affected (i.e., actual beneficiary harm), or had the substantial likelihood of being adversely affected (i.e., substantial likelihood of beneficiary harm) by a sponsor’s deficiency, a CMP can be issued under the termination authority.Example of Actual Beneficiary Harm: A sponsor fails to provide an appropriate transition process for new enrollees who are prescribed non-formulary Part D drugs that represent ongoing therapy.

  • The sum of the Weighted Performance Levels with respect to all the Goals related to an Actual Beneficiary determines its Overall Performance.

  • They shall further identify the Actual Beneficiary (AB) of the customer and take all reasonable measures to verify such identity using documents, information and data obtained from an independent and reliable source in a manner that enables them to ascertain the identity of the AB.

  • Itaú Unibanco Risk Management – Pillar 3 VaR – Consolidated Itaú UnibancoWe improved our internal methodology to calculate Consolidated VaR, migrating from the “parametric” approach to a “historical simulation” approach (except for Foreign Units, which is undergoing the transition).

  • Actual Beneficiary Outputs by Programme Objective AreaChart 4: 2014-2015 Planned v.

  • Sitreps from 8 July to 14 November 2011 Table 3: Intended and Actual Beneficiary Coverage, Phase 1 Table 4: Intended and Actual Beneficiary Coverage, Phase 1 3.2.3 Quality Standard Three: Technical aspects of programme measured against Sphere and Oxfam quality standards Sphere standards for water supply and sanitation are incorporated into the programme‟s logical framework, the operational plan, proposals and reports to several major donors.

  • Sixth: Identifying the Actual Beneficiary (actual requester of the transaction): 1.

  • Collecting and Maintaining Actual Beneficiary Data: Actual beneficiary data by racial or ethnic category for each child care center, outside-school-hours care center, adult day care centers, and family day care home under its jurisdiction are to be collected by the institution each year.

  • Chart 3: 2018-2019 Actual Beneficiary Outputs by Strategic Objective Area 3% 1%1% 19% 46% 30%SO 1 PeaceSO 2 PeopleSO 3 PlanetSO 4 ProsperitySO 5 Cross-fertilization Multiple Pillar 117639 76113 Chart 4: 2018-2019 Planned v.

Related to Actual Beneficiary

  • Financial Beneficiary means any Principal of the Developer or Applicant entity who receives or will receive any direct or indirect financial benefit from a Development, except as further described in Rule 67-21.0025, F.A.C.

  • Income beneficiary means a person to whom net income of a trust is or may be payable.

  • Initial Beneficiary means ALF LLC, as initial beneficiary under the Titling Trust Agreement and its permitted successors and assigns.

  • Surviving Spouse means the widow or widower, as the case may be, of a Deceased Participant or a Deceased Beneficiary (as applicable).

  • Designated Beneficiary means the beneficiary or beneficiaries the Participant designates, in a manner the Administrator determines, to receive amounts due or exercise the Participant’s rights if the Participant dies or becomes incapacitated. Without a Participant’s effective designation, “Designated Beneficiary” will mean the Participant’s estate.

  • Qualified beneficiary means a beneficiary who, on the date the beneficiary's qualification is determined:

  • Remainder beneficiary means a person entitled to receive principal when an income interest ends.

  • Annual Benefit means an annual sum of fifty thousand dollars ($50,000) multiplied by the Applicable Percentage (defined below) and then reduced to the extent required: (i) under the other provisions of this Agreement; (ii) by reason of the lawful order of any regulatory agency or body having jurisdiction over the Employer; and (iii) in order for the Employer to properly comply with any and all applicable state and federal laws, including, but not limited to, income, employment and disability income tax laws (eg., FICA, FUTA, SDI).

  • Refund beneficiary means an individual nominated by a qualified participant or a former qualified participant under section 66 to receive a distribution of the participant's accumulated balance in the manner prescribed in section 67.

  • primary beneficiary means the individual for whose primary benefit the trust is then held. For purposes of Section 8.3, a Qualified Entity is a member of each Family Group to which such one or more Qualified Trusts that are its equity holders belong.

  • Beneficiary means each designated person, or the estate of the deceased Executive, entitled to benefits, if any, upon the death of the Executive, determined according to Article 4.

  • Surviving beneficiary or "surviving descendant" means a beneficiary or a descendant who did not predecease the decedent and is not considered to have predeceased the decedent under section 2702.

  • Third Party Beneficiary means each of the non-NHS bodies set out in the list attached at Schedule 1, as supplied from time to time by the Authority to the Contractor;

  • Former Spouse means the individual who is considered by Applicable Laws to be the Annuitant’s former spouse or common-law partner;

  • Contingent Beneficiary is the person that becomes the Beneficiary if the named Beneficiary dies prior to the Income Date.

  • Disability benefit recipient means a member who is receiving a disability benefit.

  • Accrued Benefit means the amount standing in a Participant's Account(s) as of any date derived from both Employer contributions and Employee contributions, if any.

  • Special benefit means a particular and distinct benefit over and above general benefits conferred on real property located in the district or to the public at large. General enhancement of property value does not constitute “special benefit.”

  • Spouse means, an individual who,

  • land reform beneficiary , in relation to a property, means a person who -

  • Beneficiary(ies means the beneficiary(ies) designated by the Participant who are entitled to receive any distributions from the Plan payable upon the death of the Participant.

  • Death Benefit means the insurance amount payable under the Certificate at death of the Insured, subject to all Certificate provisions dealing with changes in the amount of insurance and reductions or termination for age or retirement. It does not include any amount that is only payable in the event of Accidental Death.

  • Supplemental Benefit means the monthly benefit payable to the Executive under this Agreement.

  • Pre-Retirement Survivor Benefit means the benefit set forth in Article 6.

  • Termination Benefit means the benefit set forth in Article 7.

  • Qualified Beneficiaries has the meaning set forth in Section 4.12.