Fit and Proper Test definition

Fit and Proper Test means, in respect of each person proposed to be a Director, that person:
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Fit and Proper Test means a test aiming to prevent corrupt or untrustworthy people from serving on the board of a licensee.
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Fit and Proper Test means a test administered on a person vying for office or appointment based on the minimum standards of the vetting criteria.
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Examples of Fit and Proper Test in a sentence

  • Due to Covid-19 crisis, the official from parent bank (SBI), identified for the post of Director Finance and IT could not reach Indonesia within the timeline of 6 months from the date of clearing the Fit and Proper Test of OJK.

  • Due to Covid- 19 crisis, the official from parent bank (SBI), identified for the post of Director Finance and IT could not reach Indonesia within the timeline of 6 months from the date of clearing the Fit and Proper Test of OJK.

  • The requirements of the Training and Competence sourcebook (TC) and guidance in the Fit and Proper Test for Employees and Senior Personnel (FIT) may also be relevant.

  • Due to Covid-19 crisis, the official from parent bank (SBI), identified for the post of Director Finance and IT could not reach Indonesia within the stipulated timeline of 6 months from the date of clearing the Fit and Proper Test of OJK.

  • The Chief Executive Officer of the SACCO Society shall, within fourteen (14) days of the elections, submit to the Authority and the Commissioner the names and addresses of all persons elected to the Board of Directors and Supervisory Committee, including their respective Fit and Proper Test Forms in accordance with the Regulations, 2020.

  • To cope with the changing pace of banking business and recent corporate governance scams throughout the world, SBP has been striving hard to strengthen its corporate governance regime by broadening the scope of its Fit and Proper Test (FPT).

  • Approve the appointment of Mr. DAISUKE EJIMA as President Commissioner the Company, which is effective from the date of passing the Fit and Proper Test from the Financial Services Authority on his appointment as President Commissioner of the Company, for the remaining term of office of the current members of the Company's Board of Commissioners.

  • Notes: ****) The appointed Members of Board of Directors can only perform their duty and function of his/her position upon approval of Fit and Proper Test of the Financial Services Authority.

  • Hiswara, the ‘fit and proper’ test is regulated in Bank Indonesia Regulation No. 12/23/PBI/2010 concerning the Fit and Proper Test, that applies to 135 Tr. Day 2, 43:6-11.

  • Efforts to deter violations and bank fraud , Bank Indonesia has made a Rule of Good Corporate Governance , as well as ethical guidelines for commercial banks , issuing and Regulations on Test Fit and Proper Test ( Fit and Proper Test ) which is intended for prospective bank officials .


More Definitions of Fit and Proper Test

Fit and Proper Test means a test administered to a person to ascertain that he meets the minimum qualifications set in the code of conduct and vetting criteria.
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Related to Fit and Proper Test

  • Fit and proper means that the individual (or in the case of a private hire operator’s licence, the limited company together with its directors and secretary, or all members of a partnership) is “safe and suitable” to hold the licence.

  • Course Materials means lectures, exercises designed for online collaboration, multimedia developed for Web distribution, notes, outlines, syllabi, bibliographies, tests, instructional handouts, videotaped presentations and any like materials and documents (whether in electronic or other medium) that a member of the bargaining unit authors or creates in connection with the preparation or teaching of a course at a University.

  • Assets and Properties of any Person means all assets and properties of every kind, nature, character and description (whether real, personal or mixed, whether tangible or intangible, whether absolute, accrued, contingent, fixed or otherwise and wherever situated), including the goodwill related thereto, operated, owned, licensed or leased by such Person, including cash, cash equivalents, Investment Assets, accounts and notes receivable, chattel paper, documents, instruments, general intangibles, real estate, equipment, inventory, goods and Intellectual Property.

  • Project Operational Manual means the Project Operational Manual, to be adopted in accordance with Section 6.01 (a) of this Agreement, giving details of guidelines and procedures agreed with the Association for the implementation, supervision, and monitoring and evaluation, of the Project, and the procurement procedures and guidelines for Sub-Projects, as same may be amended from time to time in agreement with the Association, and such term includes any schedules to the Project Operational Manual;

  • Operational requirements means the need to ensure that the Agency is to be operated as effectively, efficiently and economically as possible.

  • The Works/ Project means the works to be executed or done under this contract.

  • Project Operations Manual or “POM” means the Project Operations Manual referred to in Section I.B of Schedule 2 to this Agreement, as the said manual may be amended from time to time, with the prior written approval of the Bank, and such term includes any schedules to the POM.

  • Plans and Specifications means the plans, drawings and specifications reasonably necessary to properly assess and review proposed Work prior to issuance of any approval that may be required under this Agreement;

  • Engineering Reports has the meaning assigned such term in Section 2.07(c)(i).

  • Standard Specifications means a compilation in book form of specifica- tions approved for general application and repetitive use;

  • The Works/Project means the works to be executed or done under this contract.

  • RFP Project Documents means the following documents to be entered into in respect of the Project, by the parties to the respective agreements:

  • Supplier Operations means all assets, processes and systems (including information systems), data (including Customer data), personnel, and sites, used or processed by Supplier from time to time in the performance of this Agreement.

  • Operating Statement Analysis Report format substantially in the form of and containing the information called for therein for the Mortgage Loans, or such other form for the presentation of such information as may be approved from time to time by the CREFC® for commercial mortgage securities transactions generally.

  • Engineering Report means either an Independent Engineering Report or an Internal Engineering Report.

  • Project Requirements means the statement included in the Request for Proposal detailing the technical and other requirements of Canada which are to be met by the successful Bidder, and which are to be addressed in the Bid;

  • essential requirements means all the conditions set out in Annex III which must be met by the rail system, the subsystems, and the interoperability constituents, including interfaces;

  • Project Record means the separate set of Drawings and Specifications as further set forth in paragraph 4.02A.

  • Punchlist Items means any items necessary at the time of the issuance of a temporary certificate of occupancy to complete fully the renovation of the Project Facilities in accordance with the Plans and Specifications for the Project Facilities, or required for the issuance of a final certificate of occupancy or its equivalent.

  • Latest Projections means: (a) on the Closing Date and thereafter until the Agent receives new projections pursuant to Section 7.2(f), the projections of the Borrower’s financial condition, results of operations, and cash flows, for the period commencing on April 1, 2009 and ending on March 31, 2010 and delivered to the Agent prior to the Closing Date; and (b) thereafter, the projections most recently received by the Agent pursuant to Section 7.2(f).

  • Web Site Accessibility Standards/Specifications means standards contained in Title 1 Texas Administrative Code Chapter 206.

  • CMSA Operating Statement Analysis Report means a report substantially in the form of, and containing the information called for in, the downloadable form of the "Operating Statement Analysis Report" available as of the Closing Date on the CMSA Website or in such other form for the presentation of such information and containing such additional information as may from time to time be approved by the CMSA for commercial mortgage-backed securities transactions generally.

  • Environmental Conditions means any conditions of the environment, including, without limitation, the work place, the ocean, natural resources (including flora or fauna), soil, surface water, ground water, any actual or potential drinking water supply sources, substrata or the ambient air, relating to or arising out of, or caused by the use, handling, storage, treatment, recycling, generation, transportation, Release or threatened Release or other management or mismanagement of Regulated Substances resulting from the use of, or operations on, the Property.

  • Functional Specifications means the descriptions of features and functions of the Application as expressly set forth in Quote.

  • TENDER SPECIFICATIONS means the Scope of Work, Special Instructions / Conditions, Technical specifications/requirement , Appendices, Site Information and drawings pertaining to the work and any other relevant reference in the Tender Document for which the Bidder are required to submit their offer.

  • NCZ Examined Project means any Generator or UDR project that is not exempt pursuant to 23.4.5.7.8 and either (i) is in a Class Year on the date the Commission accepts the first ICAP Demand Curve to apply to a Mitigated Capacity Zone or (ii) meets the criteria specified in 23.4.5.7.3(II). An NCZ Examined Project may be at any phase of development or in operation or an Installed Capacity Supplier.For purposes of Section 23.4.5 of this Attachment H, “Net CONE” shall mean the localized levelized embedded costs of a peaking unit in a Mitigated Capacity Zone, net of the likely projected annual Energy and Ancillary Services revenues of such unit, as determined in connection with establishing the Demand Curve for a Mitigated Capacity Zone pursuant to Section 5.14.1.2 of the Services Tariff, or as escalated as specified in Section 23.4.5.7 of Attachment H.