National Oil Account definition

National Oil Account means the account established pursuant to Article 4 of this Law.
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National Oil Account. – shall mean the account established and held by the Central Bank with the Custody Bank, pursuant to this law;
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Examples of National Oil Account in a sentence

  • The Government shall include in the National Budget a proposed Annual Funding Amount consistent with the requirements of Article 10 to be transferred out of the National Oil Account to the Treasury for the expenditures set forth in Articles 12, 13 and 14 of this law.

  • This is estimated by taking the sum of revenues deposited in the National Oil Account during the twelve months ending on June 30 of the year in question, plus the expected revenue in all future years, with future earnings discounted by the Long Term Real Rate of Return.

  • The balance of the National Oil Account (NOA) is not included in NCG.

  • The National Oil Account (NOA) at the BCSTP is included in 2007 and excluded in 2008.

  • The government borrowed because of strong social pressures to move the project forward and the fact that it faced a treasury cash flow problem because the transfer of National Oil Account resources had been delayed.

  • Lower-than-expected foreign aid in the first four months of 2006 further heightened pressures on the government cash flow position.Domestic arrears of dobras 28.9 billion, accumulated mostly in March and April, were cancelled soon after the transfer from the National Oil Account reached the budget in late May.

  • The National Oil Account (NOA) is one of the main instruments for achieving effective and transparent governance of oil revenues.

  • For end-June 2007, ceilings were adjusted for domestic arreas totaling Dobras 6.5 billion.4 The National Oil Account (NOA) at the Central Bank is included in 2007 and excluded in 2008.

  • To ensure maximal transparency, accountability and predictability in the disposition of National Oil Account assets, paragraphs 6.9, 6.10, and 6.11 assign duties of reporting regarding the NOA.

  • By that point, the law calls for an investment committee to have been set up to govern the portfolio compositions of the permanent reserve of the National Oil Account (see below) and of the assets remaining in the National Oil Account for transfer to the national budget.

Related to National Oil Account

  • Commercial account means an arrangement whereby a retail distributor sells hazardous chemicals to an employer, generally in large quantities over time and/or at costs that are below the regular retail price.

  • Health Savings Account means an account as permitted under section 223 of the internal revenue code of 1986, 26 USC 223.

  • frozen account means an account with a relevant institution which is held or controlled (directly or indirectly) by a designated person;

  • Depository Account includes any commercial, checking, savings, time, or thrift account, or an account that is evidenced by a certificate of deposit, thrift certificate, investment certificate, certificate of indebtedness, or other similar instrument maintained by a Financial Institution in the ordinary course of a banking or similar business. A Depository Account also includes an amount held by an insurance company pursuant to a guaranteed investment contract or similar agreement to pay or credit interest thereon.

  • Subsidy Account If the Trust Estate contains any Subsidy Loans, the deposit account or accounts created and maintained by the Servicer for deposit of Subsidy Funds and amounts payable under interest subsidy agreements relating to mortgage loans other than the Mortgage Loans.

  • Cash Account has the meaning set forth in Section 2.1(a)(ii).

  • Special Account means the account referred to in Section 2.02 (b) of this Agreement;

  • Control Account means a Securities Account or Commodities Account that is the subject of an effective Securities Account Control Agreement and that is maintained by any Loan Party with an Approved Securities Intermediary. “Control Account” includes all Financial Assets held in a Securities Account or a Commodities Account and all certificates and instruments, if any, representing or evidencing the Financial Assets contained therein.

  • Bank Account means one or more accounts opened, maintained and operated by the Portfolio Manager with any of the Scheduled Commercial Banks in accordance with the agreement entered into with the Client.

  • Sub-Account means any of the individual sub-accounts of a Participant's Separate Account that is maintained as provided in Article VIII.

  • L/C Cash Deposit Account means an interest bearing cash deposit account to be established and maintained by the Agent, over which the Agent shall have sole dominion and control, upon terms as may be satisfactory to the Agent.

  • Clearing Account means the account so designated and established by Section 5.04(1) hereof.

  • Medical savings account means an account exempt from federal income taxation pursuant to Section 220 of the United States Internal Revenue Code (26 U.S.C. § 220).

  • Income Account Distribution Date means the "Distribution Dates" set forth in the "Essential Information" in the Prospectus.

  • Savings Account means an account, which is based on Mudarabah and its profit shall be calculated based on the profit earned on any balance maintained above the minimum threshold or average threshold (as may be agreed upon with the Bank).

  • Profit Sharing Account means any one of the accounts so designated and provided for in Section 6.01.

  • Concentration Accounts has the meaning ascribed to it in Annex C.

  • Concentration Account has the meaning provided in Section 6.13(c).

  • Deposit Account is any “deposit account” as defined in the Code with such additions to such term as may hereafter be made.

  • JetBrains Account or “JBA” means an account at xxxxx://xxxxxxx.xxxxxxxxx.xxx created by Customer, having a unique name and password, and through which Customer has access to Products in accordance with a Toolbox Subscription.

  • Clearing Account Agreement means that certain Clearing Account - Deposit Account Control Agreement dated the date hereof among Borrower, Lender and Clearing Bank, as the same may be amended, restated, replaced, supplemented or otherwise modified from time to time, relating to funds deposited in the Clearing Account.

  • Automatic Investment Plan/Dividend Reinvestment Plan means a program in which regular purchases or sales are made automatically in or from investment accounts in accordance with a predetermined schedule and allocation, including dividend reinvestment plans.

  • Special Accounts means the accounts referred to in Section 2.02 (b) of this Agreement;

  • Designated Deposit Account is Borrower’s deposit account, account number , maintained with Bank.

  • Excluded Account means (a) any deposit account specifically and exclusively used for payroll, payroll taxes and other employee wage and benefit payments to or for the benefit of any Loan Party’s employees and (b) any Xxxxx Cash Accounts.

  • Investment Account As defined in Section 3.12(a).