Bermuda Monetary Authority definition

Bermuda Monetary Authority means the Bermuda Monetary Authority established under the Bermuda Monetary Authority Act 1969;
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Bermuda Monetary Authority means the regulatory authority in Bermuda that is responsible for the registration and on-going supervision of the Reinsurer.
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Bermuda Monetary Authority means the governing insurance regulatory authority of the Bermuda Government.
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Examples of Bermuda Monetary Authority in a sentence

  • The Plan and this Agreement are not subject to, and have not received approval from either the Bermuda Monetary Authority or the Registrar of Companies in Bermuda and no statement to the contrary, explicit or implicit, is authorized to be made in this regard.

  • The Award Agreement is not subject to and has not received approval from the Bermuda Monetary Authority and the Registrar of Companies in Bermuda, and no statement to the contrary, explicit or implicit, is authorized to be made in this regard.

  • Enforcement of such a judgment against assets in Bermuda may involve the conversion of the judgment debt into Bermuda dollars, but the Bermuda Monetary Authority has indicated that its present policy is to give the consents necessary to enable recovery in the currency of the obligation.

  • The permission of the Bermuda Monetary Authority (BMA) is required for the issue and transfer of shares, other than in cases where the BMA has granted a general permission.

  • The Company shall have no obligation under the provisions of this Agreement unless and until all approvals required from the Bermuda Monetary Authority are received.

  • ARL has not received any direction or other notification from the Bermuda Monetary Authority pursuant to Section 32 of the Insurance Act, 1978 of Bermuda.

  • The Bermuda Monetary Authority has designated the Issuer, Assured Guaranty Re Ltd.

  • Promptly following receipt thereof by ARL, notice of any direction or other notification received by ARL from the Bermuda Monetary Authority pursuant to Section 32 of the Insurance Act, 1978 of Bermuda.

  • No consent, approval or authorization of, or declaration or filing with, or notice to, any Governmental Authority, other than the Bermuda Monetary Authority, or any other Person is required by or with respect to the Reinsurer in connection with the execution and delivery of the Transaction Agreements by the Reinsurer, or the consummation by the Reinsurer of the transactions contemplated thereby.

  • The Trustee shall not be required to confirm that the written consent of the Bermuda Monetary Authority has been granted prior to authenticating a new Security.


More Definitions of Bermuda Monetary Authority

Bermuda Monetary Authority. In order to reflect the requirements set by the BMA, to permit the subordinated notes to qualify as Tier 2 Capital of the Guarantor or the Insurance Group, each holder of subordinated notes is deemed to agree and acknowledge that the subordinated notes and the guarantee will be subordinated to the claims of all Senior Creditors (as defined in the prospectus supplement) on the terms and to the minimum extent necessary under BMA regulatory requirements. By purchasing the subordinated notes, each holder is deemed to agree and acknowledge that no security of any kind is, or will at any time be, provided by the Issuer, the Guarantor or any of their respective affiliates to secure the rights of holders of the subordinated notes.
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Bermuda Monetary Authority means that quasi-governmental authority of similar name in Bermuda and, where applicable, includes any Bermuda governmental authority, department or agency that performs similar functions.
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