Present law definition

Present law means the present law and the subsidiary normative acts and instruments issued in furtherance of or under the authority of the present law, including the public procurement rules and code of ethics issued pursuant to or under the authority of the present law.
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Present law means the present law and any subsidiary normative acts and instruments issued pursuant to or under the authority of the present law.
Sample 1

Examples of Present law in a sentence

  • Present law provides that the substance of a transaction governs in determining whether the transaction gives rise to a private loan.

  • Present law does not require that a recipient receiving returns or return information by consent maintain the confidentiality of the information received.

  • The contractor must submit(1) a complete application on a form provided by the department;(2) the applicable fee established in 12 AAC 02.180;(3) either a new surety bond or an endorsement to the surety bond on file with the department, as required under AS 08.18.071;(4) evidence of current public liability and property damage insurance as required under AS 08.18.101; and(5) if applicable, evidence of workers' compensation insurance as required under AS 08.18.101.

  • Present law also permits a taxpayer in certain circumstances, subject to approval by the IRS through the ruling process or in published guidance, to establish that the reserve of a life insurance company for life insurance and annuity contracts is the amount taken into account in determining the foreign statement reserve for the contract (reduced by catastrophe, equalization, or deficiency reserve or any similar reserve).

  • Present law sets out in detail the requirements for the motion to be granted, and lists prior offenses that make a person ineligible to have records expunged.

  • Present law requires the corporation, on a daily basis, to transfer to the state treasury for deposit into certain funds in the treasury the amount of net revenues which the corporation determines are surplus to its needs.

  • Present law further provides certain restrictions on the casino gaming operator relative to such operations and activities, including restrictions on pricing and advertising.

  • Present law authorizes the casino gaming operator to own or operate offsite lodging which may be physically connected to the official gaming establishment subject to certain conditions and restrictions on the number of rentable units, square footage, advertising, and pricing.

  • Present law prohibits an individual from receiving credit towards suspension time or any reinstatement requirement if the individual is charged or arrested for any offense involving the operation of a motor vehicle while under the influence of alcohol, drugs, or both, during the period in which the individual is required to have an ignition interlock device as a requirement of bail, a part of a pre-trial diversion program, or a term of a suspended or deferred sentence as provided in present law.

  • Debt Expected To Be Paid In Equity Present law Section 163(l) generally disallows a deduction for interest or OID on a debt instrument issued by a corporation (or issued by a partnership to the extent of its corporate partners) that is payable in equity of the issuer or a related party (within the meaning of sections 267(b) and 707(b)), or equity held by the issuer (or a related party) in any other person.

Related to Present law

  • Procurement Law means the Public Contracts Regulations 2015, the Concession Contracts Regulations 2016 (insofar as the same are applicable) together with any statutory modification or replacement regulations or Legislation on procurement by public bodies; Professional Team means (as applicable) the architect, civil & structural engineer, the mechanical & electrical engineer and any other consultant appointed by the Grant Recipient in connection with a Firm Scheme; Prohibited Act means:

  • Statutes means the Companies Act, the Electronic Transactions Act 1999 of Bermuda, and every other act (as amended from time to time) for the time being in force of the Legislature of Bermuda applying to or affecting the Company, the Memorandum of Association and/or these presents;

  • Legal Requirements means any and all requirements of law, code, permit, regulation, rule, order, judgment, decree, ordinance, or provision of any federal, state, or local government agency, authority, or court pertaining to (i) the Contract, or (ii) the Work undertaken by the Contractor pursuant to the Contract.

  • Applicable Laws and Regulations means all duly promulgated applicable federal, State and local laws, regulations, rules, ordinances, codes, decrees, judgments, directives, or judicial or administrative orders, permits and other duly authorized actions of any Governmental Authority having jurisdiction over the relevant parties, their respective facilities, and/or the respective services they provide.

  • money laundering means the conversion or transfer of property, knowing that such property is the proceeds of crime, for the purpose of concealing or disguising the illicit origin of the property or of helping any person who is involved in the commission of the predicate offence to evade the legal consequences of his or her actions, or the concealment or disguise of the true nature, source, location, disposition, movement or ownership of or rights with respect to property, knowing that such property is the proceeds of crime.

  • Requirements of Law means, with respect to any Person, any statutes, laws, treaties, rules, regulations, orders, decrees, writs, injunctions or determinations of any arbitrator or court or other Governmental Authority, in each case applicable to or binding upon such Person or any of its property or to which such Person or any of its property is subject.

  • Best management practices (BMP) means schedules of activities, prohibitions of practices, maintenance procedures, and other management practices to prevent or reduce the pollution of waters of the United States. BMPs include treatment requirements, operation procedures, and practices to control plant site runoff, spillage or leaks, sludge or waste disposal, or drainage from raw material storage.