Remuneration System definition

Remuneration System means the system followed by the direct selling entity to compensate the direct seller which illustrates the mode of sharing of incentives, profits and commission, including financial and non-financial benefits, paid by the direct selling entity to the direct sellers, on a monthly or periodic or yearly basis or both, as the case may be. This system, for every Direct Selling entity, shall:
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Remuneration System means the system followed by the direct selling entity to compensate the direct seller which illustrates the mode of sharing of incentives, profits and commission, including financial and non financial benefit, paid by the direct selling entity to the direct sellers, on a monthly or periodic or yearly basis or both a the case may be.
Sample 1Sample 2Sample 3
Remuneration System means the system followed by the direct selling entity to compensate the direct seller which illustrates the mode of sharing of incentives, profits and commission, including financial and non financial benefit, paid by the direct selling entity to the direct sellers, on a monthly or periodic or yearly basis or both a the case may be. This system for every Direct selling entity, shall: 11 Have no provision that a direct seller will receive remuneration from the recruitment to participate in such direct selling. 12 Ensure that direct sellers shall receive remuneration derived from the sale of goods or services. 13 Clearly disclose the method of calculation of remuneration 14. State includes a Union territory.
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Examples of Remuneration System in a sentence

  • Pursuant to section 3.1.2 of Supervisory Policy Manual (CG-5) "Guideline on a Sound Remuneration System" issued by the Hong Kong Monetary Authority, Sumitomo Mitsui Banking Corporation Hong Kong Branch as an overseas incorporated Authorized Institution is not required to make separate disclosures in relation to its own remuneration system as Sumitomo Mitsui Financial Group will provide the relevant disclosures in its annual report.

  • Allocations to the administrative, professional, technical and operational streams includes the occupational groupings as prescribed in the Translation Manual For The New Classification And Remuneration System or as prescribed in Schedule 1.

  • A preliminary version of this report was published in arXiv [2] in May, 2015.∗Yoram Moses is the Israel Pollak academic chair at Technion.In this work we introduce TIME4, a generic tool for using time in SDN.

  • Evaluation of the Appropriateness of the Design and Operation of the Remuneration System of the Resona Group Relevant Officers and Employees(1) Remuneration Policy1) Remuneration Policy of Relevant Officers, etc.

  • Pursuant to section 3 of Supervisory Policy Manual (CG-5) Guideline on a Sound Remuneration System issued by the HKMA, the Branch complies with the requirements and has adopted the remuneration systems of ING Bank N.V. Head Office.

  • Preparing and submitting the Remuneration Policy and the Remuneration System to the Board of Directors for its approval.

  • In accordance with CG-5 Guidelines on a Sound Remuneration System issued by the Hong Kong Monetary Authority and to prevent employees from ignoring the long-term risk control for pursuing short-term business results, the Appraisal Steering Team will fully consider whether the business results are achieved under strict risk management controls.

  • This committee decides the individual amounts and the nature of remuneration for directors (excluding Directors who are Audit & Supervisory Committee Members) based on Basic Policy on the Executive Officer Remuneration System, and also decides the Guidelines on the Nomination Criteria for Directors.

  • Positioning of Remuneration System for OfficersThe Company regards its remuneration system for officers as an important aspect of corporate governance.

  • Revision of the Remuneration System for Corporate Executive OfficersThe Company has revised the remuneration system in FY2023.


More Definitions of Remuneration System

Remuneration System means the system followed by the direct selling entity to compensate the direct seller which illustrates the mode of sharing of incentives, profits and commission, including financial and non-financial benefits, paid by the direct selling entity to the direct sellers, on a monthly or periodic or yearly basis or both, as the case may be. This system, for every direct selling entity, shall;Have no provision that a direct seller will receive remuneration from the recruitment to participate in such direct selling; ensure that direct sellers shall receive remuneration derived from the sale of goods or services; clearly disclose the method of calculation of remuneration.
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Remuneration System means a system of remuneration referred to in regulation 37(3);
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Related to Remuneration System

  • Distribution System means the system of wires and associated facilities between the delivery points on the transmission lines or the generating station connection and the point of connection to the installation of the consumers;

  • distribution system operator means a natural or legal person responsible for operating, ensuring the maintenance of and, if necessary, developing the distribution system in a given area and, where applicable, its interconnections with other systems and for ensuring the long-term ability of the system to meet reasonable demands for the distribution of electricity;