Statutory management definition

Statutory management means the procedure whereby the Authority takes immediate possession and control of a Sacco Society’s business due to unsafe and unsound practices;
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Statutory management means a procedure whereby the Authority takes possession and control of a SACCO society's business due to unsafe and unsound practices
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Statutory management means a procedure whereby the Commission takes immediate control and management of the SACCOS’ business and assets and may operate the SACCOS until the Commission permits it to resume business on its own subject to any terms and conditions the Commission may impose;
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Examples of Statutory management in a sentence

  • Statutory management changes are facilitated through amendments to legislative instruments, such as the fishery management plan, section 43 orders, exemptions and gazetted determinations by the Department’s Director General (see Table 2 above).Amendments to the SBPMF Management Plan cannot be undertaken without addressing statutory consultation requirements.

  • Statutory management is a controversial and “draconian remedy” that has been invoked only once since its passage.

  • The results of this study will be published by end of 2018.Concerning administrative burden for Member States, "The Statutory management requirements (SMR) stem from sectorial legislations and Member States may make use of their existing administration and control systems (Article96 of Regulation (EU) No 1306/2013).

  • This has calmed the panic created in the market following the placement of Chase Bank under Statutory management.

  • Statutory management A payment of the cash balance or net termination amount by an NZ Companya Covered Customer made subject to statutory management may be made in a termination currency other than New Zealand dollars.

  • Statutory management compensation is paid only at the Parent company level, and therefore, no management compensation has been recorded by the subsidiaries.

  • This is a vote of confidence as it is the first time that the IFC is directly involved in our country as an investor or lender.All these initiatives are not in direct competition with the existing financial institutions, but are seen as complementary to the financial system.We have also used our legislation to deal with financial institutions not complying with the regulations, some of whom have been placed under Statutory management with the aim that they will trade themselves out of their difficulties.

  • Statutory management 111 Section 239H(1) of the Companies Act.112 A deed of company arrangement must be approved by a majority in number representing 75% in value of creditors voting.

  • Statutory management plans may be prepared for reserves under the Reserves Act 1977 where the Sports Fish and Game Management Plan is lacking.

  • Statutory management remuneration is paid only at the Parent Company level and, therefore, no management remuneration has been recorded in the subsidiaries.


More Definitions of Statutory management

Statutory management means statutory management under the Reserve Bank of New Zealand Act 1989.
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Statutory management means the procedure the CBL administers to take immediate
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Statutory management means the procedure the CBL administers to take immediate possession and control of a Credit Union’s business due to unsafe and unsound practices.
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Related to Statutory management

  • Asset Management is a principle/practice that includes planning processes, approaches, plans, or related documents that support an integrated lifecycle approach to the effective stewardship of infrastructure assets to maximize benefits and effectively manage risk.

  • Michigan economic development corporation means the public body corporate created under section 28 of article VII of the state constitution of 1963 and the urban cooperation act of 1967, 1967 (Ex Sess) PA 7, MCL 124.501 to 124.512, by a contractual interlocal agreement effective April 5, 1999, as amended, between local participating economic development corporations formed under the economic development corporations act, 1974 PA 338, MCL 125.1601 to 125.1636, and the Michigan strategic fund. If the Michigan economic development corporation is unable for any reason to perform its duties under this act, those duties may be exercised by the Michigan strategic fund.

  • Case management means a care management plan developed for a Member whose diagnosis requires timely coordination. All benefits, including travel and lodging, are limited to Covered Services that are Medically Necessary and set forth in the EOC. KFHPWA may review a Member's medical records for the purpose of verifying delivery and coverage of services and items. Based on a prospective, concurrent or retrospective review, KFHPWA may deny coverage if, in its determination, such services are not Medically Necessary. Such determination shall be based on established clinical criteria and may require Preauthorization.

  • COVERED HEALTHCARE SERVICES means any service, treatment, procedure, facility, equipment, drug, device, or supply that we have reviewed and determined is eligible for reimbursement under this plan.

  • Health and Human Services Commission or “HHSC” means the administrative agency established under Chapter 531, Texas Government Code, or its designee.