Explanation 2. The term “significant transaction or arrangement” shall mean any individual transaction or arrangement that exceeds or is likely to exceed 10% of the total revenues or total expenses or total assets or total liabilities, as the case may be, of the material unlisted subsidiary for the immediately preceding accounting year. Explanation 3: Where a listed holding company has a listed subsidiary which is itself a holding company, the above provisions shall apply to the listed subsidiary insofar as its subsidiaries are concerned.
Explanation 2. A member will be considered to have accounting or related financial management expertise if he or she possesses experience in finance or accounting, or requisite professional certification in accounting, or any other comparable experience or background which results in the individual’s financial sophistication, including being or having been a chief executive officer, chief financial officer or other senior officer with financial oversight responsibilities.
Explanation 2. The Delivered Energy in a Billing Month shall be limited to the energy calculated based on the Contracted Capacity in KW multiplied with number of hours and fraction thereof, the Project is in operation during that Billing Month. Explanation 3: The Delivered Energy shall be purchased by the DISCOM at a tariff for that year stipulated in Article 2.2 of this Agreement upto 25% CUF. The Delivered Energy beyond the 25% CUF may be purchased from the solar power developer (SPD) by the DISCOM at 50% of the tariff for that Tariff Year as per the Article 2.2 of the Agreement.
Examples of Explanation 2 in a sentence
Explanation 2: Biometric based e-KYC authentication can be done by bank official/business correspondents/business facilitators.
Explanation 2- Outstanding dues shall mean and include any amount accrued/ due against the licensee under this or any other agreement at any of AAI airport or airport premises.
Explanation 2: The extent of foreign investment in the corpus of the Investment Vehicle will not be a factor to determine as to whether downstream investment of the Investment Vehicle concerned is foreign investment or not.
If this is a cooperative or sole source purchase, proceed to the instructions for Section I.
The following procedure is followed for each Public Hearing listed: 1) Staff Explanation; 2) Public Discussion; 3) Council Comments; 4) Close public portion of the Hearing; 5) City Council discussion; and 6) Decision.
More Definitions of Explanation 2
Explanation 2. Outstanding dues shall mean and include any amount accrued/due against the licensee under this or any other agreement at any of AAI airport or airport premises. Signed by Airport Director, Airports Authority of India, LBSI Airport, Varanasi for and on behalf of The Airports Authority of India, in the presence of: SIGNATURE OF AIRPORT DIRECTOR WITNESS:
Explanation 2. The Delivered Energy in a Billing Month shall be limited to the energy calculated based on the contracted project capacity in kW multiplied with number of hours and fraction thereof the Project is in operation during that Billing Month. Explanation 3: The Delivered Energy will be procured as per Article 2 of this Agreement.
Explanation 2. In case the IPP choses to supply a portion of power to Discom, the provisions of clauses 5.7 to clause 5.10 shall apply mutatis mutandis.
Explanation 2 existing population” means the population projected for the year in which the constitution of the municipality is being considered as per the following formula, namely:-
Explanation 2. The Delivered Energy in a Billing Month shall be limited to the energy calculated based on the Contracted Capacity multiplied with number of hours and fraction thereof the Project is in operation during that Billing Month. The energy will be procured up to 25% CUF at a tariff of Rs.6.49/unit for this location, beyond the same, the energy will be purchased at a flat rate of Rs 3.00/unit (without escalation) for the entire agreement period.
Explanation 2. Board or Authority” means any corporation, company society or any other body of one or more persons whether incorporated or not, established, registered or formed by or under any Central law or law of any State for the item being in force or exercising powers and functions under any such law”.
Explanation 2. For the removal of doubts, it is hereby declared that "business connection" shall include any business activity carried out through a person who, acting on behalf of the nonresident, (a) has and habitually exercises in India, an authority to conclude contact on behalf of the non- resident, unless his activities are limited to the purchase of goods or merchandise for the nonresident; or (b) has no such authority, but habitually maintains in India a stock of goods or merchandise from which he regularly delivers goods or merchandise on behalf of the non-resident; or (c) habitually secures orders in India, mainly or wholly for the non-resident or that non-resident and other non-residents controlling, controlled by, or subject to the same common control, as that non-resident." 13.3 The Explanation is a pointer to the fact that in order to have a business connection, in respect of a business activity carried on by non-resident through a person situated in India it should involve more than what are supportive or subsidiary to the main function. Illustratively, cls. (a) to (c) includes activities such as habitually concluded contracts on behalf of non-resident, maintaining of all stocks and goods and merchandises from which he regularly delivers goods or habitually secures orders in India mainly or wholly for the non-resident. 13.4 Curiously, while the Authority has returned a finding of fact that none of the activities mentioned in Expln. 2 to s. 9(1)(i) is carried on by the petitioner in India, it then went on to apply the ratio of the judgment of the Supreme Court in the case of X.X. Xxxxxxxx (supra) to hold that the activity carried on by the liaison offices of the petitioner, in India, constituted a "business connection" in India and hence, income shall be deemed to accrue/arise in India, to the petitioner, situated in UAE, from business connection in India. In our opinion, the Authority has clearly erred in applying the ratio of the judgments of Supreme Court in the case of