Money Transmission Business definition

Money Transmission Business means the business of accepting cash, cheques, other monetary instruments or other stores of value in one location and the payment of a corresponding sum in cash or other form to a beneficiary in another location by means of a communication, message, transfer or through a clearing network to which the money transfer business belongs and “money
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Money Transmission Business means a busi- ness that comprises or includes providing a money transmission service to members of the public;
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Money Transmission Business means a person qualified to do business in this State who receives currency, monetary value, or payment instruments for the purpose of transmitting the money by any means that facilitate the transfer within this country, or to or from this country, or in exchange for a promise to make the money, monetary value, or payment instruments available at a later time or in a different location. The term does not include:
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Examples of Money Transmission Business in a sentence

  • The Central Bank of The Bahamas (“the Central Bank”) is responsible for the licensing, regulation and supervision of non-bank money transmission businesses operating in and from within The Bahamas pursuant to the Banks and Trust Companies Regulation Act, 2000 (“BTCRA”) as amended1, the Central Bank of The Bahamas Act, 2000 (“CBA”) as amended2, the Banks and Trust Companies (Money Transmission Business) Regulations, 2008 (“the MTBR”), as amended.

  • I, (full name and address) of confirm that I have read and understood the provisions of The Banks and Trust Companies (Money Transmission Business) Regulations, 2008 (“the Regulations”) and I declare that the business in respect of which this application is made will be conducted in accordance with the provisions of the Regulations and any other relevant legislation.

  • A licensee under this act shall not be subject to the provisions of the act of September 2, 1965 (P.L. 490, No. 249), referred to as the Money Transmission Business Licensing Law, to the extent that the licensee transmits money pursuant to the terms of a debt management services or debt settlement services agreement.


More Definitions of Money Transmission Business

Money Transmission Business means a business that comprises or includes providing a money transmission service to members of the public;
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Money Transmission Business means a person
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Related to Money Transmission Business

  • Transmission Business means the authorised business of a transmission licensee to transmit electricity, whether for its own account or for that of any other person, through any system owned and/ or operated by such licensee;

  • Money transmission means any of the following:

  • Merchant Transmission Facilities means A.C. or D.C. transmission facilities that are interconnected with or added to the Transmission System pursuant to Tariff, Part IV and Tariff, Part VI and that are so identified in Tariff, Attachment T, provided, however, that Merchant Transmission Facilities shall not include (i) any Customer Interconnection Facilities, (ii) any physical facilities of the Transmission System that were in existence on or before March 20, 2003 ; (iii) any expansions or enhancements of the Transmission System that are not identified as Merchant Transmission Facilities in the Regional Transmission Expansion Plan and Tariff, Attachment T, or (iv) any transmission facilities that are included in the rate base of a public utility and on which a regulated return is earned.

  • Transmission pipeline means any high pressure transmission pipeline connected to, but excluding the Maui Pipeline, that is used for the open access transportation of Gas, and includes all items of plant, equipment, fixtures and fittings directly appurtenanced to that pipeline, but excluding any item which is controlled by a party other than that pipeline’s TP Welded Party and any low pressure distribution system.

  • Generation Business means the licensed business (if any) of the Licenseeand any affiliate or related undertaking of the Licensee in the generation of electricity or the provision of Ancillary Services;

  • Local Loop Transmission “Unbundled Local Loop”, “Loop” means the transmission path which extends from the Network Interface Device or demarcation point at an End User’s premise to the Main Distribution Frame or other designated frame or panel in the SBC-AMERITECH Serving Wire Center.

  • Intra-State Transmission System means any system for transmission of electricity other than an Inter-State Transmission System;

  • SBE Certified Business (or “SBEs”) means a business that meets the criteria set forth in Section 1.07.050 of this chapter and has been certified as meeting that criteria by the Community and Economic Development Department-SBE Program Coordinator.

  • Energy Transmission Injection Rights means the rights to schedule energy deliveries at a specified point on the Transmission System. Energy Transmission Injection Rights may be awarded only to a Merchant D.C. Transmission Facility that connects the Transmission System to another control area. Deliveries scheduled using Energy Transmission Injection Rights have rights similar to those under Non-Firm Point-to-Point Transmission Service.

  • Network Transmission Service means transmission service provided pursuant to the rates, terms and conditions set forth in Tariff, Part III, or transmission service comparable to such service that is provided to a Load Serving Entity that is also a Transmission Owner.

  • STU or State Transmission Utility means the State Transmission Utility notified by respective State Government under Sub-section (1) of Section 39 of the Act.

  • Transmission Interconnection Customer means an entity that submits an Interconnection Request to interconnect or add Merchant Transmission Facilities to the Transmission System or to increase the capacity of Merchant Transmission Facilities interconnected with the Transmission System in the PJM Region or an entity that submits an Upgrade Request for Merchant Network Upgrades (including accelerating the construction of any transmission enhancement or expansion, other than Merchant Transmission Facilities, that is included in the Regional Transmission Expansion Plan prepared pursuant to Operating Agreement, Schedule 6).

  • CTU or Central Transmission Utility means the Central Transmission Utility as defined in sub-section (10) of Section 2 of the Electricity Act 2003;

  • Interregional Transmission Project means transmission facilities that would be located within two or more neighboring transmission planning regions and are determined by each of those regions to be a more efficient or cost effective solution to regional transmission needs.

  • Certified business means a business verified as a minority- or women-owned business enterprise pursuant to Section 314 of the Executive Law.

  • Capacity Transmission Injection Rights means the rights to schedule energy and capacity deliveries at a Point of Interconnection of a Merchant Transmission Facility with the Transmission System. Capacity Transmission Injection Rights may be awarded only to a Merchant D.C. Transmission Facility and/or Controllable A.C. Merchant Transmission Facilities that connects the Transmission System to another control area. Deliveries scheduled using Capacity Transmission Injection Rights have rights similar to those under Firm Point-to-Point Transmission Service or, if coupled with a generating unit external to the PJM Region that satisfies all applicable criteria specified in the PJM Manuals, similar to Capacity Interconnection Rights.

  • Eligible next Michigan business means that term as defined in section 3 of the Michigan economic growth authority act, 1995 PA 24, MCL 207.803.

  • Transmission Services the services provided by the Transmission Provider(s) to the Distributor;

  • Specified Business means a business of a kind prescribed by the regulations to be a specified business; tenant, in relation to a lease, means the person who, under the lease, is or would be entitled to occupy the premises the subject of the lease; Tribunal means the State Administrative Tribunal;

  • Regional Transmission Organization or “RTO” means the regional transmission organization approved by the Federal Energy Regulatory Commission for the control area that includes the utility’s assigned service area (as defined in IC 8-1-2.3-2).

  • Transmission Facilities shall have the meaning set forth in the Operating Agreement.

  • Network Integration Transmission Service means the transmission service provided under Tariff, Part III.

  • State Transmission Utility or “STU” shall mean the Board or the Government company notified by the respective State Government under Sub-section (1) of Section 39 of the Act;

  • Transmission Customer means any eligible customer, shipper or designated agent that can or does execute a transmission service agreement or can or does receive transmission service, including all persons who have pending requests for transmission service or for information regarding transmission.

  • Authorized business means 1 of the following:

  • Telecommunications Business means the business of (i) transmitting, or providing services relating to the transmission of, voice, video or data through owned or leased transmission facilities, (ii) creating, developing or marketing communications related network equipment, software and other devices for use in a Telecommunications Business or (iii) evaluating, participating or pursuing any other activity or opportunity that is primarily related to those identified in (i) or (ii) above; provided that the determination of what constitutes a Telecommunications Business shall be made in good faith by the Board of Directors of the Guarantor.