Ongoing supervision Sample Clauses
The 'Ongoing supervision' clause establishes a requirement for continuous oversight and monitoring of certain activities, processes, or individuals throughout the duration of an agreement or project. Typically, this clause mandates that a designated party, such as a supervisor or regulatory body, regularly reviews performance, compliance, or conduct to ensure standards are maintained. For example, it may apply to the supervision of contractors on a worksite or the monitoring of financial transactions in a regulated industry. The core function of this clause is to ensure accountability and sustained compliance, thereby reducing the risk of misconduct or errors over time.
Ongoing supervision. The Company, through the Officer, shall ensure on an ongoing basis that the plan is actually implemented in order to achieve its goals as specified above. Such supervision shall be performed through: Formulation of periodic reports which include the means and actions that were taken in order to ensure the implementation of the plan, suspicionsof violations that were raised and how they were addressed, examination of relevance, updates and progress of assimilation of the plan, etc. Presentation of the reports to the Company’s management and/or Audit Committee and/or Board of Directors and deliberation on the data reported by the forum to be determined. Reporting of issues requiring immediate attention to the Company’s management and/or Audit Committee and/or Board of Directors. Documentation of the processes related to formulation of the plan, and the means that were instituted to implement the plan and to handle violations, as well as documentation, provision of documents for inspection and preservation of documents pursuant to the provisions of the Law.
Ongoing supervision. The Authorities intend to provide relevant information to each other with regard to their involvement in the supervision of the Supervised Entities, in a timely and reasonable manner. The Authorities expect to inform each other of material administrative penalties imposed, or other formal enforcement action taken against any Cross-border Establishment, its management or, in cases of systemic impact, its shareholders. The Authorities expect that they will give prior notification of such action to each other, as far as it is practicable and subject to applicable laws.
Ongoing supervision. The Croatian and the Austrian Banking Authorities shall inform each other, in good time and to the extent reasonable, about any event which has the potential to endanger the stability of Credit Institutions/Banks having Cross-Border Establishments in the respective other country.