Innovation Function definition

Innovation Function means the dedicated function established by an Authority to support innovation in financial services in their respective markets;

Innovation Function means the dedicated function established in both Authorities to act as the centralized contact point for Innovator Businesses;

Innovation Function means the dedicated function established in the Authorities to promote innovation in financial services in their respective markets, and for the Canadian Authorities, includes the functions a Canadian Authority has established to support the CSA Regulatory Sandbox

Examples of Innovation Function in a sentence

• The Authorities acknowledge that review may be required if there is a material change to the support offered by a Receiving Authority's Innovation Function to Innovator Businesses referred by a Referring Authority pursuant to paragraph 5.1 or to the Criteria for Support.

• The Authorities acknowledge that review may be required if there is a material change to the support offered by a Receiving Authority's Innovation Function to an Innovator Business referred by a Referring Authority pursuant to paragraph 5.1; or the Authority’s Criteria for Support.

• The Authorities acknowledge that review may be required if there is a material change to the support offered by a Receiving Authority's Innovation Function to an Innovator Business referred by a Referring Authority pursuant to paragraph 5.1 or the Authority’s Criteria for Support.

• The Authorities acknowledge that review may be required if there is a material change to the support offered by a Receiving Authority's Innovation Function to an Innovator Business referred by a Referring Authority pursuant to paragraph section 5.1. or the Authority’s Criteria for Support.

• The Referring Authority acknowledges that an Innovator Business that receives support from the Receiving Authority’s Innovation Function may or may not ultimately meet the requirements for Authorization and that, in providing assistance through the Innovation Function, the Receiving Authority is not expressing an opinion about whether an Innovator Business ultimately will meet the requirements for such Authorization.

• Following a referral, the Receiving Authority’s Innovation Function should offer support to the Innovator Business in accordance with Paragraph 19 above.

• The Authorities acknowledge that review may be required if there is a material change to the support offered by a Receiving Authority's Innovation Function to Innovator Businesses referred by a Referring Authority pursuant to paragraph 5.1 or to the Authority’s Criteria for Support.

• Following referral, the Receiving Authority's Innovation Function should offer support to the Innovator Business in accordance with paragraph 2.4 above.

• The Referring Authority acknowledges that an Innovator Business benefiting from the Receiving Authority’s Innovation Function's assistance during the pre-authorisation phase may or may not meet the requirements for authorisation, and that in providing assistance through the Innovation Function, the Receiving Authority is not expressing an opinion about whether an Innovator Business will ultimately meet the requirements for authorisation in its jurisdiction.

• A Receiving Authority should use information about a referred Innovator Business only for the purpose of providing support to the referred Innovator Business through the Receiving Authority's Innovation Function and ensuring compliance with the law of the Receiving Authority's jurisdiction, unless the Referring Authority consents to other uses.

More Definitions of Innovation Function

Innovation Function means the dedicated function established in the Authorities to promote innovation in financial services in their respective markets;

Innovation Function means the dedicated function established in each authority to support innovation in financial services in their respective markets. “Laws and Regulations” means any laws, regulation or regulatory requirement applicable in the jurisdiction of an Authority. Xxxxxxxxxxxxx 00 0000 Xxxx Tel. +00 (0)00 000 00 00 Fax +00 (0)00 000 00 00 xxx.xxxxx.xx "Receiving Authority" means the Authority that is receiving a Financial Services Innovator business referral or information relating to that referral.