Authority or Discretion definition

Authority or Discretion means (i) the authority, control, or discretion with respect to the Plan or Trust which is identified or allocated to a Named Fiduciary under the terms of the Plan or Trust or a procedure in the Plan or Trust, or (ii) the exercise of such authority, control, or discretion by such Named Fiduciary.
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Authority or Discretion means, with respect to a Fiduciary, (a) the authority or control or the exercise thereof, or (b) the discretion or the exercise thereof, which, in either case or in both cases, makes a person a Fiduciary.
Sample 1

Examples of Authority or Discretion in a sentence

  • No person to whom Authority or Discretion has been properly allocated must consent to being a Fiduciary nor will it be necessary for the allocating Named Fiduciary to seek such person’s acquiescence; however, where such person has not signed a contract, the person must be given notification of the services to be performed and agree to perform, or perform, such services.

  • The Authority or Discretion any person who is properly allocated fiduciary responsibilities hereunder may have is several and not joint with each other fiduciary, including the allocating Named Fiduciary.

  • The Authority or Discretion which a Named Fiduciary identified hereunder may have, is several and not joint with the Administrator or Investment Committee or any other Named Fiduciary and the identification of such Named Fiduciary will result in the Administrator or Investment Committee or other Named Fiduciary no longer being a Named Fiduciary with respect to, nor having any longer, such Authority or Discretion.

  • Subject to Subsection 13.1(g)(4), each Named Fiduciary may (i) delegate Authority or Discretion, other than trustee responsibilities as described in Section 405(c)(3) of ERISA unless the delegation is to an investment manager as defined in ERISA Section 3(38), to persons it designates, and (ii) make a change of delegated responsibilities.

  • Each such delegation will either (i) if it relates to an individual employed by an Employer, specify the delegated person by name or by office and describe the Authority or Discretion delegated to such individual, or (ii) use a Benefit Agreement with such person as a means for specifying the Authority or Discretion delegated to such person.

  • The Authority or Discretion any person who is properly delegated fiduciary responsibilities hereunder may have is several and not joint with each other fiduciary, including the delegating Named Fiduciary.

  • Nor may the Administrative Committee or Investment Committee allocate Authority or Discretion to an officer of an Employer or an Employee, unless it is an allocation among the members of the Administrative Committee or Investment Committee.

  • No person, other than an investment manager (as defined in Section 3(38) of ERISA), to whom Authority or Discretion has been properly delegated must consent to being a Fiduciary nor will it be necessary for the delegating Named Fiduciary to seek such person’s acquiescence; however, where such person has not signed a contract, the person must be given notification of the services to be performed and agree to perform, or perform, such services.

  • Each such allocation must either (i) if it relates to an individual employed by an Employer, specify the allocated person by name or by office and describe the Authority or Discretion allocated to such individual, or (ii) use an Appointing Officer as a means for specifying the Authority or Discretion allocated to such person.

  • Such an heterogeneous environment demands a global approach to achieve efficient resource usage that constantly adapts to devices’ specific constraints, nature of executing tasks (hard real- time, soft real-time, non real-time) and dynamically changing system conditions (task migration, mobility).

Related to Authority or Discretion

  • Authority or Housing Authority (HA) means the Housing Authority.

  • Authority board means the board of directors of the state authority appointed under section 16.

  • Awarding Authority means a subordinate or component entity or person of the City (such as a City department or Board of Commissioners) that has the authority to enter into a contract or agreement for the provision of goods or services on behalf of the City of Los Angeles.

  • Approving Authority means a government (federal, provincial or municipal), governmental agency, Crown corporation, or quasi-governmental authority (a privately operated organization exercising authority delegated by legislation or a government).

  • Issuing authority means the authorized representative of the department of the City who issued the solicitation.

  • Contract Awarding Authority means the Board of Supervisors or the individual authorized by the Board of Supervisors to enter into contracts on behalf of the County.

  • Franchising Authority means any Governmental Authority authorized by any federal, state or local law to grant a Franchise or to exercise jurisdiction over the rates or services provided by a cable television system pursuant to a Franchise or over Persons holding a Franchise.

  • Assessing Authority means the assessing authority constituted under this Act;

  • Governing authority means the local legislative authority

  • Requesting Authority means the Authority making a request under this MoU.

  • Contracting Authority means any contracting authority as defined in Regulation 3 of the Public Contracts Regulations 2006.

  • Authority Data means a) the data, text, drawings, diagrams, images or sounds (together with any database made up of any of these) which are embodied in any electronic, magnetic, optical or tangible media, and which are:

  • Virginia Stormwater Management Program authority or "VSMP authority" means an authority approved by the State Board after September 13, 2011, to operate a Virginia Stormwater Management Program.

  • Funding Authority means the body awarding the grant for the Project.

  • Appeal authority means the executive authority of the municipality or any other body or institution outside of the municipality authorised by that municipality to assume the obligations of an appeal authority for purposes of appeals lodged in terms of the Act;

  • Responding tribunal means the authorized tribunal in a responding state or foreign country.

  • Administering Authority means a governmental employee, or a regional planning commission empowered under s. 62.234, Wis. Stats., that is designated by the Common Council to administer this ordinance.

  • Revisional Authority means an authority appointed or authorised for revision of decision or orders as referred to in section 108;

  • Inspecting Authority means the authorised representative of the Department to act as Inspecting Authority for the purpose of this contract and for the purpose of ascertaining the progress of the deliveries under the contract.

  • Authority means any governmental, regulatory or administrative body, agency or authority, any court or judicial authority, any arbitrator, or any public, private or industry regulatory authority, whether international, national, Federal, state, or local.

  • Regulatory Body means those government departments and regulatory, statutory and other entities, committees, ombudsmen and bodies which, whether under statute, rules, regulations, codes of practice or otherwise, are entitled to regulate or investigate the matters dealt with in this Agreement or any other affairs of the Provider or the Department, including, without limitation Ofsted, the European Commission and the European Court of Auditors;

  • Appointing authority means the head of an employing unit authorized by ordinance or City Charter to employ others on behalf of the City, or a designated management representative. The term includes and can be used interchangeably with department head, department director, superintendent, and chief.

  • Authority System means the Authority’s computing environment (consisting of hardware, software and/or telecommunications networks or equipment) used by the Authority or the Contractor in connection with this Contract which is owned by or licensed to the Authority by a third party and which interfaces with the Contractor System or which is necessary for the Authority to receive the Services.

  • Independent Safeguarding Authority is a non-departmental public body sponsored by the Home Office set up under the provisions of the Safeguarding Vulnerable Groups Act 2006 and which is responsible for the decision making and maintenance of two lists covering the children’s and vulnerable adults’ sectors

  • Implementing Authority means the Municipal Manager or his or her nominee, acting in terms of section 100 of the Local Government: Municipal Systems Act No. 32 of 2000.

  • Permitting authority means the Iowa department of natural resources or the director thereof.