Sound business practice definition

Sound business practice means business practice which is conducive to the establishment, maintenance and promotion of:▪ domestic and international confidence in the financial sector;▪ best international practice and prudential and other regulations relating to the custody and investment of the nation’s savings and the acceptance of risk;▪ the right to underwrite in both the long and short-term insurance industries;▪ sustainable sources of finance, which take cognisance of the different resources available;▪ level playing fields and competition between the different sub-sectors of the financial sector, and hence the avoidance of arbitrage between the sub-sectors; and▪ BEE transactions taking place on a willing buyer and a willing seller basis.
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Examples of Sound business practice in a sentence

  • Sound business practice dictates that all Nonpublic Information be kept confidential.

  • Sound business practice suggests that consideration be given to transferring (if possible) electronic mail to a more lasting medium/format, such as acid-free paper or microfilm, where long-term accessibility is an issue.

  • Sound business practice requires all University Personnel to assume responsibility for safeguarding the assets of the University.

  • The stock broker shall provide the client with the relevant contact details of the concerned Exchanges and SEBI.23.

  • These requirements are obligatory and arise largely from the following sources: • Sound business practice; • Duty as agent for the client or customer; • Specific confidentiality agreements with clients, customers and other third parties into which Pantheon may enter into from time to time; • Specific agreements executed between Associates and Pantheon; and • Privacy laws and Market Abuse / Insider Trading regulations.

  • Sound business practice dictates that providers at least have a robust business continuity plan to respond to any emergency.

  • Sound business practice has reached new heights in market compliance and ethical literacy.

  • The Road Maintenance Initiative (RMI)The current road sector reform in Tanzania is based on four building blocks:• Stakeholder involvement (Ownership)• Adequate and stable funding (Financing)• Clearly defined responsibility (Responsibility)• Sound business practice (Management) The Road Fund was established to address the financing block under the RMI concept.

  • Sound business practice requires a formal comprehensive business continuity plan to be tested to ensure ongoing operations in the event of a disaster.

  • There were 49 member accounts with errors made during the reconstruction of the accounts, as follows: • Four member accounts noted in Exhibit A• One member account noted in Exhibit B• Thirty-three member accounts noted in Exhibit C• Eleven member accounts noted in Exhibit D Sound business practice requires an understanding of the conditions and terms of any agreement entered into.

Related to Sound business practice

  • Group practice means a group of two or more health care providers legally organized as a partnership, professional corporation, or similar association:

  • Good Engineering Practice means, Works carried out in accordance with the following standards/ specifications,

  • Good Practice means such practice in the processing of personal data as appears to the Commissioner to be desirable having regard to the interests of data subjects and others, and includes (but is not limited to) compliance with the requirements of this Act;

  • Unfair practice means (i) establishing contact with any person connected with or employed or engaged by the Authority with the objective of canvassing, lobbying or in any manner influencing or attempting to influence the Bidding Process; or (ii) having a Conflict of Interest; and

  • Prudent Operating Practice means (a) the applicable practices, methods and acts required by or consistent with applicable Laws and reliability criteria, and otherwise engaged in or approved by a significant portion of the electric utility industry during the relevant time period with respect to grid-interconnected, utility-scale generating facilities with integrated storage in the Western United States, or (b) any of the practices, methods and acts which, in light of the facts known at the time the decision was made, could have been expected to accomplish the desired result at a reasonable cost consistent with good business practices, reliability, safety and expedition. Prudent Operating Practice is not intended to be limited to the optimum practice, method or act to the exclusion of all others, but rather to acceptable practices, methods or acts generally accepted in the industry with respect to grid-interconnected, utility-scale generating facilities with integrated storage in the Western United States. Prudent Operating Practice includes compliance with applicable Laws, applicable reliability criteria, and the criteria, rules and standards promulgated in the National Electric Safety Code and the National Electrical Code, as they may be amended or superseded from time to time, including the criteria, rules and standards of any successor organizations.

  • Licensed Business means the activities connected with the conveyance of

  • Best Practice means solutions, techniques, methods and approaches which are appropriate, cost-effective and state of the art (at Member State and sector level), and which are implemented at an operational scale and under conditions that allow the achievement of the impacts set out in the award criterion ’Impact’ first paragraph (see below).

  • concerted practice means cooperative or coordinated conduct between firms, achieved through direct or indirect contact, which replaces their independent action, but which does not amount to an agreement;

  • Good Industry Practice means standards, practices, methods and procedures conforming to the Law and the degree of skill and care, diligence, prudence and foresight which would reasonably and ordinarily be expected from a skilled and experienced person or body engaged in a similar type of undertaking under the same or similar circumstances.

  • the Business means the usual work and activities carried on by the Insured pertaining to his business as specified in the Schedule and no others.

  • Promising practice means a practice that presents, based upon preliminary information, potential for becoming a research-based or consensus-based practice.

  • Good Manufacturing Practice or “GMP” means the current good manufacturing practices applicable from time to time to the manufacturing of a Product or any intermediate thereof pursuant to Applicable Law.

  • Oil and Gas Business means the business of exploiting, exploring for, developing, acquiring, operating, producing, processing, gathering, marketing, storing, selling, hedging, treating, swapping, refining and transporting hydrocarbons and other related energy businesses.

  • Prudent Industry Practice means such practices, methods, acts, techniques, and standards as are in effect at the time in question that are consistent with (a) the standards generally followed by the United States pipeline and terminalling industries or (b) such higher standards as may be applied or followed by the Xxxxx Entities in the performance of similar tasks or projects, or by the Partnership Entities in the performance of similar tasks or projects.

  • Unsafe or unsound practice means a practice or conduct by a person licensed to engage in money transmission or an authorized delegate of such a person, which creates the likelihood of material loss, insolvency, or dissipation of the licensee’s assets, or otherwise materially prejudices the interests of its customers.

  • Proper practices means those set out in The Practitioners’ Guide

  • Good Manufacturing Practices means current good manufacturing practices, as set forth in 21 C.F.R. Parts 210 and 211.

  • Practices means that the practice(s) seems like a logical approach to addressing a specific behavior which is becoming distinct, recognizable among Clients and clinicians in practice, or innovators in academia or policy makers; and at least one recognized expert, group of researchers or other credible individuals have endorsed the practice as worthy of attention based on outcomes; and finally, it produces specific outcomes.

  • Past Practice means past practices, accounting methods, elections and conventions.

  • Active practice means post-licensure practice at the level of licensure for which an applicant is seeking licensure in Virginia and shall include at least 360 hours of practice in a 12-month period.

  • Reasonable and Prudent Operator means a person seeking in good faith to perform its contractual obligations and, in the process of doing so and in the overall conduct of its whole undertaking exercising that degree of diligence, skill, prudence and foresight which can reasonably and ordinarily be expected from a skilled and experienced operator engaged in the same type of undertaking under the same or similar circumstances complying with all applicable Laws, and any reference to the standard of a Reasonable and Prudent Operator means such degree of diligence, skill, prudence and foresight as aforesaid.

  • Business Products means all products or services that have been or are currently sold, licensed, provided, supported, distributed or otherwise disposed of by the Business, including all products or services in development.

  • Business Property means property on which a business is conducted, property rented in whole or in part to others, or held for rental.

  • Covered Business means (A) during the term, any business in which the Company is engaged and (B) after the Term, any business in which the Company was engaged as of the end of the Term.

  • Current Good Manufacturing Practices or “cGMP” means applicable Good Manufacturing Practices as specified in the United States Code of Federal Regulations and/or the EU Good Manufacturing Guidelines, and any successor legislation from time to time, prevailing at the time of the manufacture of the Product.

  • Retained Businesses means all businesses, operations and activities directly or indirectly conducted or formerly conducted by the Seller Group other than the Business (including all businesses, operations and activities related to any dealerships sold or disposed of prior to the date hereof).