Financial Sector Code definition

Financial Sector Code. ’ means the Financial Sector Code for Broad-Based Black Economic Empowerment issued in terms of section 9(1) of the Broad-Based Black Economic Empowerment Act, 2003 (Act No. 53 of 2003);

Examples of Financial Sector Code in a sentence

  • The amended Property Sector Code must use the Transformational Infrastructure Index to categorise under resourced areas as referred to in the Financial Sector Code (FSC) over a five-year period.

  • Act No. 53 of 2003) and the Financial Sector Code for Broad-Based Black Economic Empowerment issued in terms of section 9(1) of that Act, it must have a plan in place to meet its commitments in terms of promoting transformation of the financial sector in line with those requirements.

  • On a weighted average basis, the 15 major companies covered in this analysis have achieved a score of 15.3 out of the 17 points (including bonus points) available for ownership on the B-BBEE scorecard.More broadly, while some of the largest financial companies have either achieved or are close to achieving a number of the targets set in the Financial Sector Code, there are areas where transformation is substantially lagging.

  • Adopting the Financial Sector Code (FSC) as a compulsory reporting framework for the non-life insurance industry participants.

  • The Charter was then subject to a lengthy renegotiation process, resulting in the publication of an updated Financial Sector Code.

  • The COFI Bill requirements for a transformation plan (rather than policy) are retained and have been reworded to require the plan to more closely align to the achievement of tangible targets informed by the targets in the Financial Sector Code.

  • We can also expect to see the Conduct of Financial Institutions Bill come into effect, and an updated iteration of the Financial Sector Code gazetted.

  • As set out in the 2018 Explanatory Policy Paper, the first draft of the COFI Bill proposed that a financial institution be required as part of its governance arrangements to design, publish and implement a transformation policy that should satisfy the requirements of the Broad-Based Black Economic Empowerment (BBBEE) Act and the Financial Sector Code.

  • The following analysis focuses on ownership scores in the financial sector relative to the B-BBEE targetsset out in the Financial Sector Code published in November 201224.

  • This document outlines the Target Market andStandards for the Access products to be developed by the Short-Term Insurance Industry under it’s commitments in terms of the Financial Sector Code gazetted on the 26 November 2012 (gazette number 359154).

Related to Financial Sector Code

  • All sectors Central : National Treatment : Minimum capital used at commencement of the business under the Lists attached to the Foreign Business Act B.E. 2542 (1999) shall not be less than that prescribed in the Ministry of Commerce's regulations, which in no case shall be less than three million Baht. In all other cases, minimum capital used at the commencement of the business operation shall not be less than that prescribed by the Ministry of Commerce's regulations and shall in no case be less than two million Baht. : -Foreign Business Act B.E. 2542 (1999), as amended. -Ministry of Commerce's regulations, as amended. - Administrative guidelines.

  • Financial Services means those activities described in Annex VI. The Stabilisation and Association Council may extend or modify the scope of that Annex.

  • Public street means a public right-of-way, including a public highway, public avenue, public boulevard, public parkway, public road, public lane, public alley, public viaduct, public subway, public tunnel, public bridge, public byway, other public transportation easement, or other public way.

  • Collector street means a street, existing or proposed, of considerable continuity which serves or is intended to serve as the principal traffic way between large and separated areas or districts and which is the main means of access to the major street system.

  • Private Sector means other than the fund, a state or federal source, or an agency of a state or the federal government.

  • financial service means a service of a financial nature, including insurance, and a service incidental or auxiliary to a service of a financial nature;

  • Cottage Sector Means a single dwelling that does not have a common facility for a multiple number of tenants.

  • Public Sector Entity means a non-commercial administrative body responsible to central governments, regional governments or local authorities, or to authorities that exercise the same responsibilities as regional governments and local authorities, or a non-commercial undertaking that is owned by or set up and sponsored by central governments, regional governments or local authorities, and that has explicit guarantee arrangements, and may include self-administered bodies governed by law that are under public supervision;

  • CAISO Global Resource ID means the number or name assigned by the CAISO to the CAISO-Approved Meter.

  • Corporation/ Corpn./ Department means the Central Warehousing Corporation.

  • Sub-Sector refers to the specific sector in which the reservation is taken;

  • one-way street means a street upon which vehicular traffic is limited to movement in one direction.

  • public road means a road as defined by the Road Traffic Xxx 0000;

  • Drive means to operate or be in actual physical control of a

  • Master Street Address Guide or "MSAG" is a database of street names and house number ranges within their associated communities defining particular geographic areas and their associated ESNs to enable proper routing of 911 calls. "Meet Point" is a point of Interconnection between two (2) networks, designated by two (2) Telecommunications Carriers, at which one Carrier's responsibility for service begins and the other Carrier's responsibility ends.

  • Short-rotation coppice means a specific management regime whereby the poles of trees are cut every one to two years and which is aimed at producing biomass for energy. It is exempt from the UK government timber procurement policy requirements and falls under agricultural regulation and supervision rather than forestry. The exemption only refers to short-rotation coppice, and not 'conventional' coppice which is forest management and therefore subject to the timber policy.

  • Healthcare services means services or goods provided for

  • Public Sector means an employing authority as defined in s5 of the Public Sector Management Act 1994.

  • Natural resources means land, fish, wildlife, biota, air, water, ground water, drinking water supplies, and other such resources belonging to, managed by, held in trust by, appertaining to, or otherwise controlled by the United States or the State.

  • Long-term care services means the services admin- istered directly or through contract by the aging and disability services administration and identified in WAC 388-106- 0015.

  • Public highway means a public highway, road, street, avenue, alley, or thoroughfare of any kind, or a bridge, tunnel, or subway used by the public.

  • Health care services means services for the diagnosis, prevention, treatment, cure, or relief of a health condition, illness, injury, or disease.

  • Public works and “Building Services” - Definitions

  • Post-Stabilization Care means Medically Neces- sary services received after the treating physician determines the emergency medical condition is stabilized.

  • Sector All Sectors Sub-Sector : - Industry Classification : - Level of Government : Central and Regional Type of Obligation : National Treatment Description of Measure : Malaysia reserves the right to adopt or maintain any measure relating to the issuance of licence/permit including numerical limitations and non-issuance of licences. Malaysia reserves the right to adopt or maintain any measure relating to the conditions (4) imposed in the issuance of licence/permit.

  • Clear coating means a transparent coating designed to provide the final gloss and resistance properties of the coating system;