Primary and Supporting Legislation definition

Primary and Supporting Legislation means any applicable law, rule or regulation and any applicable supporting law, rule or regulation which mandates reporting and/or retention of transaction and similar information or to the extent required or permitted under, or made in accordance with, any order or directive regarding reporting and/or retention of transaction and similar information issued by any authority or body or agency in accordance with which the other party is required or accustomed to act.
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Primary and Supporting Legislation means any applicable law, rule or regulation and any applicable supporting law, rule or regulation which mandates reporting and/or retention of transaction and similar information or to the extent required or permitted under, or made in accordance with, any order or directive regarding reporting and/or retention of transaction and similar information issued by any authority or body or agency in accordance with which the other party is required or accustomed to act. “Relevant Transaction” means, unless otherwise agreed between the Parties in writing, the OTC Derivative transactions entered into by the Client and the Bank. “Reporting Deadline” means the deadline for reporting the Relevant Transactions as specified in the applicable reporting regime, and as determined by the Bank in its sole and absolute discretion. “Trade Repository” means a legal person that centrally collects and maintains the records of derivatives and registered as such in accordance with the applicable legislation as per provisions of the present Annex. Article 2 Purpose. Mandatory Reporting. 2.1. Purpose Pursuant to the regulatory obligations of the Bank, the Bank will report data on behalf of the Client. In order to submit such reports, the Bank requires certain data from the Client. 2.2. Mandatory Reporting (A) In respect of each Relevant Transaction, the Client: 2.2.1. agrees it will deliver to the Bank (directly data provider) its Counterparty Data in time for the Bank to comply with its Reporting Obligation, as notified by the Bank; 2.2.2. agrees that it will make all reasonable efforts to provide the Bank with the information reasonably requested to facilitate the resolution of any reconciliation failures and/or data errors; 2.2.3. agrees that upon it becoming aware of any Relevant Data ceasing to be true, accurate and complete in every material respect, it will, immediately notify the Bank of any change to such data; 2.2.4. represents to the Bank that the information it delivers under this Contract is, at the time of delivery, on an ongoing basis, true, accurate and complete in every material respect; 2.2.5 acknowledges that the Bank may, if the Client fails to provide Relevant Data in accordance with this Annex, determine the values to be submitted to the Trade Repository in its sole discretion (which may, for the avoidance of doubt, comprise default values) in order to comply with its Reporting Obligation. The Bank shall not incur any liability to the Client, breach of statuto...
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Examples of Primary and Supporting Legislation in a sentence

  • The Delegating Party acknowledges that pursuant to Primary and Supporting Legislation, regulators require reporting of trade data to increase market transparency and enable regulators to monitor systemic risk to ensure safeguards are implemented globally.

Related to Primary and Supporting Legislation

  • Data Protection Legislation means the Data Protection Act 1998 and all applicable laws and regulations relating to processing of personal data and privacy, including where applicable the guidance and codes of practice issued by the Information Commissioner or relevant Government department in relation to such legislation;

  • UK Data Protection Legislation means all applicable data protection and privacy legislation in force from time to time in the UK including the UK GDPR; the Data Protection Act 2018; the Privacy and Electronic Communications Directive 2002/58/EC (as updated by Directive 2009/136/EC) and the Privacy and Electronic Communications Regulations 2003 (SI 2003/2426) as amended.

  • GST legislations means ‘any or all of the following legislations as may be applicable to the CONTRACTOR and OIL:

  • EU Bail-In Legislation Schedule means the EU Bail-In Legislation Schedule published by the Loan Market Association (or any successor person), as in effect from time to time.

  • customs legislation means any legal or regulatory provisions applicable in the territories of the Parties, governing the import, export and transit of goods and their placing under any other customs regime or procedure, including measures of prohibition, restriction and control;

  • Bail-In Legislation means, with respect to any EEA Member Country implementing Article 55 of Directive 2014/59/EU of the European Parliament and of the Council of the European Union, the implementing law for such EEA Member Country from time to time which is described in the EU Bail-In Legislation Schedule.

  • Bribery Legislation means the Bribery Act 2010 and any subordinate legislation made under it from time to time together with any guidance or codes of practice issued by the government concerning the legislation;

  • Applicable Legislation means any statute of Canada or a province thereof, and the regulations under any such named or other statute, relating to warrant indentures or to the rights, duties and obligations of warrant agents under warrant indentures, to the extent that such provisions are at the time in force and applicable to this Indenture;