Internal Compliance definition

Internal Compliance means following the procedures and best practices laid down by an organization in its ICP. It is an internal mechanism comprising of best practices, guidelines, and policies to minimise risk of legal and international policy violations.
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Internal Compliance. Program shall mean the BANC Internal Compliance Program, approved by the BANC Commission, as that program may be amended from time-to- time.
Sample 1

Examples of Internal Compliance in a sentence

  • Nothing in this Agreement is intended to alter or amend other BANC agreements or program documents, including, but not limited to, the Joint Exercise of Powers Agreement, the Balancing Authority Operation Services Agreement, the Member Agreement, the Internal Compliance Program Charter, the Member Compliance Review Committee Charter, or the Planning Coordinator Services Agreement (BANC Agreement(s)).

  • Any potential or actual violations of Reliability Standards applicable to the PC Function shall be addressed in accordance with the processes and procedures adopted in the Internal Compliance Program Charter and the BANC Member Agreement; provided, however, any final costs associated with a violation(s) of Reliability Standards applicable to the PC Function shall be allocated in accordance with Exhibit C to this Agreement, as that Exhibit may be amended from time-to-time.

  • Charter shall mean the policy-level document outlining the Internal Compliance Program, which has been adopted by the Commission, as that program may be amended from time-to-time.

Related to Internal Compliance

  • Internal Controls for districts means processes designed and im- plemented by districts to provide reasonable assurance regarding the achievement of objectives in the following categories:

  • Internal control over financial reporting means a process effected by an insurer’s board of directors, management and other personnel designed to provide reasonable assurance regarding the reliability of the financial statements, i.e., those items specified in Section 5(B)(2) through 5(B)(7) of this regulation and includes those policies and procedures that:

  • Substantial compliance means a level of compliance with these rules where any deficiencies pose no greater risk to resident health or safety than the potential for causing minor harm.

  • Internal test assessment means, but is not limited to, conducting those tests of quality assurance necessary to ensure the integrity of the test.

  • LEGAL COMPLIANCE This Agreement and any transaction with, or payment to, you pursuant to the terms hereof is conditioned on your representation to us that, as of the date of this Agreement you are, and at all times during its effectiveness you will be, a bank as defined in Section 3(a)(6) of the Securities Exchange Act of 1934 (or other financial institution) and not otherwise required to register as a broker or dealer under such Act. You agree to notify us promptly in writing if this representation ceases to be true. You also agree that, regardless of whether you are a member of the NASD, you will comply with the rules of the NASD, including, in particular, Sections 2310, IM 2310-2, and 2830 of the NASD Conduct Rules, and that you will maintain adequate records with respect to your customers and their transactions, and that such transactions will be without recourse against you by your customers. We recognize that, in addition to applicable provisions of state and federal securities laws, you may be subject to the provisions of the Xxxxx-Xxxxxxxx Act and other laws governing, among other things, the conduct of activities by federal and state chartered and supervised financial institutions and their affiliated organizations. As such, you may be restricted in the activities that you may undertake and for which you may be paid, and, therefore, we recognize that you will not perform activities that are inconsistent with your statutory and regulatory obligations. Because you will be the only one having a direct relationship with the customer, you will be responsible in that relationship for insuring compliance with all laws and regulations, including those of all applicable federal and state regulatory authorities and bodies having jurisdiction over you or your customers to the extent applicable to securities purchases hereunder.

  • Environmental and Social Standards or “ESSs” means, collectively:

  • Compliance Audit means the procedure (in a form advised by the GLA from time to time) by which an auditor independent of the Grant Recipient certifies (at the Grant Recipient's cost) whether the Named Projects developed or Rehabilitated pursuant to this Agreement satisfy the GLA's procedural compliance requirements (as described in the Affordable Housing Capital Funding Guide);

  • Environmental and Social Standard 8: Cultural Heritage”; (ix) “Environmental and Social Standard 9: Financial Intermediaries”; (x) “Environmental and Social Standard 10: Stakeholder Engagement and Information Disclosure”; effective on October 1, 2018, as published by the Bank.

  • Non-Compliance means failure/refusal to comply the terms and conditions of the tender;

  • Reliability means the degree of performance of the bulk electric system that results in electricity being delivered within Reliability Standards and in the amount desired. Electric system Reliability can be addressed by considering two basic and functional aspects of electric systems, which are Adequacy and Security.