DvP Exemption definition

DvP Exemption means the exemption available to PSL under (i) 6.1.12R (in respect of client assets), (ii) 7.2.8AAR (in respect of client money from 1 December 2014 until 31 May 2015), or (iii) 7.11.14R (in respect of client money from 1 June 2015) of the CASS Rules and which sets out the limited circumstances in which PSL need not comply with either the custody rules or the client money rules, as appropriate, in respect of the Client’s relevant cash or Financial Instruments.
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DvP Exemption means the exemption under the FCA Rules which allows a firm to temporarily dis-apply the custody rules or the client money rules in relation to money or assets held where the transaction is conducted on a Delivery vs Payment basis;
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DvP Exemption means the exemption under CASS 7.11.14 of the FCA Rules as amended, substituted or replaced from time to time.
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Examples of DvP Exemption in a sentence

  • The DvP Exemption allows the ACD two small periods of time during which the ACD can process a Shareholder’s money without holding it in a client money account (as detailed in CASS, an account designed to protect a Shareholder’s rights to money).

  • In summary, the DvP Exemption allows the Custodian to dis-apply the FCA Rules relating to your Securities for a short period of time when settling your transaction within a Commercial Settlement System, subject always to applicable FCA Rules.

Related to DvP Exemption

  • QPAM Exemption is defined in Section 6.2(d).

  • New Exemption means the exemption from real property taxation provided hereunder with respect to the Exemption Area.

  • INHAM Exemption is defined in Section 6.2(e).

  • Class Exemption A class exemption granted by the U.S. Department of Labor, which provides relief from certain of the prohibited transaction provisions of ERISA and the related excise tax provisions of the Code.

  • Statutory Exemption means the statutory exemption under Section 408(b)(17) of ERISA and Section 4975(d)(20) of the Code.

  • Section 162(m) Exemption means the exemption from the limitation on deductibility imposed by Section 162(m) of the Code that is set forth in Section 162(m)(4)(C) of the Code.

  • Prior Exemption means the existing tax exemption of the Exemption Area pursuant to Section 421-a(1-15) of the Real Property Tax Law.

  • Underwriter’s Exemption Prohibited Transaction Exemption 2002-41, 67 Fed. Reg. 54487 (2002), as amended (or any successor thereto), or any substantially similar administrative exemption granted by the U.S. Department of Labor.

  • Prohibited Transaction Class Exemption means U.S. Department of Labor prohibited transaction class exemption 84-14, 90-1, 91-38, 95-60 or 96-23, or any similar prohibited transaction class exemption issued by the U.S. Department of Labor.

  • Tax Exemption means any financial assistance granted to a project which is based upon all or a portion of the taxes which would otherwise be levied and assessed against a project but for the involvement of the Agency in such project.

  • Underwriter Exemption Collectively, (a) Prohibited Transaction Exemption 91-23, granted to a predecessor of Citigroup Global Markets Inc., (b) the prohibited transaction exemption granted to Deutsche Bank Securities Inc., Department Final Authorization Number 97-03E, and (c) the Prohibited Transaction Exemption 2002-19 granted to X.X. Xxxxxx Securities LLC, each as most recently amended by Prohibited Transaction Exemption 2013-08 and as further amended by the Department of Labor from time to time.

  • Investor-Based Exemption Any of Prohibited Transaction Class Exemption ("PTCE") 84-14 (for transactions by independent "qualified professional asset managers"), PTCE 91-38 (for transactions by bank collective investment funds), PTCE 90-1 (for transactions by insurance company pooled separate accounxx), XXXX 95-60 (for transactions by insurance company general accounts) or PTCE 96-23 (for transactions effected by "in-house asset managers"), or any comparable exemption available under Similar Law.

  • certificate of exemption means any document evidencing that the entity is exempt from

  • Exemption means the exemption from real property taxation provided hereunder.

  • Exemption-Favored Party Any of (i) Xxxxx Fargo Securities, (ii) RBSSI, (iii) any Person directly or indirectly, through one or more intermediaries, controlling, controlled by or under common control with Xxxxx Fargo Securities or RBSSI and (iv) any member of any underwriting syndicate or selling group of which any Person described in clauses (i), (ii) and (iii) is a manager or co-manager with respect to a Class of Certificates.

  • PURPA means the Public Utility Regulatory Policies Act of 1978, as amended.

  • FW Act means the Fair Work Act 2009, as amended from time to time.

  • Similar Law As defined in Section 5.02(b).

  • TIF Act means Minnesota Statutes, Sections 469.174 through 469.1794, both inclusive.

  • Exemption Area means the real property located in the Borough of Brooklyn, City and State of New York, identified as Block 4329, Lot 1 on the Tax Map of the City of New York.

  • AIFM Regulation means Commission Delegated Regulation (EU) No. 231/2013.

  • SRM Regulation means Regulation (EU) No. 806/2014 of the European Parliament and of the Council of 15 July 2014, establishing uniform rules and a uniform procedure for the resolution of credit institutions and certain investment firms in the framework of the Single Resolution Mechanism and the Single Resolution Fund and amending Regulation (EU) No. 1093/2010, as amended or replaced from time to time (including by the SRM Regulation II).

  • Exemption Period means the period beginning on the first day of the property tax year after the property tax year in which an applicable portion of Economic Development Property is placed in service and ending on the Termination Date. In case there are Phases of the Project, the Exemption Period applies to each year’s investment made during the Investment Period.

  • Prohibited Transaction has the meaning set forth in ERISA Section 406 and Code Section 4975.

  • Tax Exemption Certificate means the Tax Exemption Certificate approved under the terms of this Resolution and to be executed by the Treasurer and delivered at the time of issuance and delivery of the Notes.

  • FATCA Exempt Party means a Party that is entitled to receive payments free from any FATCA Deduction.