Schedule 2 business definition

Schedule 2 business means a business described in Schedule 2 to the Proceeds of Crime (Jersey) Law 1999 except those things described in Part A of that Schedule as an exclusion or exception from a business;
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Examples of Schedule 2 business in a sentence

  • This will include Jersey-based branches of companies incorporated outside Jersey conducting Schedule 2 business in Jersey.

  • If, on the application of a supervisory body, the Court is satisfied that it is desirable in the best interests of persons with whom a registered person has transacted or may transact a specified Schedule 2 business that paragraph (1) should not have effect, or should cease to have effect in a particular case, or that the period suggested in paragraph (1)(a) should be reduced, the Court may so order.

  • By virtue of the definition of relevant person in Article 1(1), the Money Laundering Order applies to any person who is carrying on a financial services business (including Schedule 2 business) in, or from within, Jersey.

  • A person carrying on a regulated business who intends to carry on a specified Schedule 2 business is not required to make an application under paragraph (1) provided that person has previously notified the Commission that he or she intends to carry on that specified Schedule 2 business.

  • Where the applicant intends to carry on more than one specified Schedule 2 business subject to different registration levels, the appropriate level of registration shall be level 1.

  • However, Article 10A(9) of the Money Laundering Order explains that a relevant person need not comply with paragraphs (2), (3) and (4) in a country or territory outside Jersey in respect of any Schedule 2 business.

  • However Schedule 2 business provided in the course of business will be covered by this Handbook, even if provided to a client on a pro-bono or unremunerated basis.

  • Upon receiving a notification under paragraph (6) from a person, the Commission shall give that person written notice that the person is deemed to have the appropriate level of registration with or without conditions under Article 17(3) in respect of the specified Schedule 2 business that is the subject of the notification and in this Law such registration shall be referred to as “deemed registration” and such a person shall be referred to as a “deemed registered person”.

  • Part 3 of the AML/CFT Handbook sets out the Commission’s policy for the supervision of compliance by a relevant person carrying on Schedule 2 business.

  • The Commission is also designated under Article 6 of the Supervisory Bodies Law to exercise supervisory functions in respect of any other person carrying on a specified Schedule 2 business (a term that is defined in Article 1 of the Supervisory Bodies Law).

Related to Schedule 2 business

  • Retained Business means any business now, previously or hereafter conducted by Seller or any of its Subsidiaries or Affiliates other than the Business.

  • Company Business means the business of the Company as presently conducted.

  • Related Business Assets means assets (other than cash or Cash Equivalents) used or useful in a Similar Business; provided that any assets received by the Issuer or a Restricted Subsidiary in exchange for assets transferred by the Issuer or a Restricted Subsidiary shall not be deemed to be Related Business Assets if they consist of securities of a Person, unless upon receipt of the securities of such Person, such Person would become a Restricted Subsidiary.

  • Assets and Properties of any Person means all assets and properties of every kind, nature, character and description (whether real, personal or mixed, whether tangible or intangible, whether absolute, accrued, contingent, fixed or otherwise and wherever situated), including the goodwill related thereto, operated, owned or leased by such Person, including without limitation cash, cash equivalents, Investment Assets, accounts and notes receivable, chattel paper, documents, instruments, general intangibles, real estate, equipment, inventory, goods and Intellectual Property.

  • Public business means and includes all matters which relate in any way, directly or indirectly, to the performance of the public body’s functions or the conduct of its business.

  • Engaging in business means commencing, conducting, or continuing in business, and liquidating a business when the liquidator thereof holds itself out to the public as conducting such business. Making a casual sale is not engaging in business.

  • Qualified business means a for-profit business that obtains services relating to that business from 30 or fewer employees or employees of independent contractors performing services substantially similar to employees during a random week in the year ending on the tax day. If a person is a unified business group as that term is defined in section 117 of the Michigan business tax act, 2007 PA 36, MCL 208.1117, the number of employees from whom services are obtained includes all employees of the unitary business group and employees of independent contractors of the unitary business group rendering services to the qualified business.

  • Local Business means a business serving as a contractor as defined in Business and Professions Code section 7026 or a business supplying construction-related materials that has its principal headquarters or permanently staffed regional office and that has held a business license within the zip codes listed above for Local Hire for a minimum of three months prior to the date the entity submits a bid, contract, or proposal for a Public Project. A Local Business contractor must also be properly registered with the Department of Industrial Relations in accordance with Labor Code section 1725.5. Local Business shall also mean any state or nationally certified minority-owned, women-owned, or disabled veteran business that has performed work for the District or other public agency within the zip codes listed above for Local Hire during the past four years. Certification for a disabled veteran business must be provided to the District. Local Business shall also mean a business that participates in an internship program that is currently approved or recognized by the District. The entity may also apply to obtain District approval of its internship program. The internship program must be approved by the District and must be completed by the end of the specific Public Project or by the next semester immediately after completion of the specific Public Project. Local Business shall also mean any entity that uses apprentices from a District approved apprenticeship program.

  • Resident Business or “Resident Contractor” means an entity that has a valid resident certificate issued by the NM Taxation and Revenue Department pursuant to Section 13-1-22 NMSA 1978.