Sound business practice definition

Sound business practice means business practice which is conducive to the establishment, maintenance and promotion of:▪ domestic and international confidence in the financial sector;▪ best international practice and prudential and other regulations relating to the custody and investment of the nation’s savings and the acceptance of risk;▪ the right to underwrite in both the long and short-term insurance industries;▪ sustainable sources of finance, which take cognisance of the different resources available;▪ level playing fields and competition between the different sub-sectors of the financial sector, and hence the avoidance of arbitrage between the sub-sectors; and▪ BEE transactions taking place on a willing buyer and a willing seller basis.
Sample 1Sample 2Sample 3

Examples of Sound business practice in a sentence

  • Sound business practice mandates sufficient administration of property and equipment.

  • Sound business practice mandates establishing conflict-of-interest policies and procedures and compliance with existing policies and procedures.

  • Sound business practice mandates that cash disbursements be fully supported and properly authorized.

  • Sound business practice mandates that business arrangements be supported by written agreements.

  • Sound business practice mandates that business arrangements be supported by complete, written agreements.

  • Sound business practice mandates that all cash disbursements be fully supported and properly authorized.

  • Sound business practice dictates that all Nonpublic Information be kept confidential.

  • Sound business practice mandates the establishment of a system to track and account for UBI.

  • Sound business practice mandates adequate administration of cash receipts.

  • Sound business practice mandates that business arrangements be supported by current, written agreements.

Related to Sound business practice

  • Group practice means a group of two or more health care providers legally organized as a partnership, professional corporation, or similar association:

  • Good Engineering Practice means, Works carried out in accordance with the following standards/ specifications,

  • Good Practice means such practice in the processing of personal data as appears to the Commissioner to be desirable having regard to the interests of data subjects and others, and includes (but is not limited to) compliance with the requirements of this Act;

  • Unfair practice means (i) establishing contact with any person connected with or employed or engaged by the Authority with the objective of canvassing, lobbying or in any manner influencing or attempting to influence the Bidding Process; or (ii) having a Conflict of Interest; and

  • Prudent Operating Practice means the mining practices, methods and acts that would be employed by a prudent mining operator having assets and operations similar in type, size, location and scope to Borrower, using modern mining equipment and techniques in the conduct of diligent and safe mining operations in an attempt to recover the maximum amount of economically mineable and merchantable coal from the Mining Facilities with due regard for all Applicable Law, all in accordance and compliance with Environmental or Mining Permits held by Borrower.

  • Licensed Business means the activities connected with the conveyance of

  • Best Practice means solutions, techniques, methods and approaches which are appropriate, cost-effective and state of the art (at Member State and sector level), and which are implemented at an operational scale and under conditions that allow the achievement of the impacts set out in the award criterion ’Impact’ first paragraph (see below).

  • concerted practice means co-operative or co-ordinated conduct between firms, achieved through direct or indirect contact, that replaces their independent action, but which does not amount to an agreement;

  • Good Industry Practice means standards, practices, methods and procedures conforming to the Law and the degree of skill and care, diligence, prudence and foresight which would reasonably and ordinarily be expected from a skilled and experienced person or body engaged in a similar type of undertaking under the same or similar circumstances.

  • the Business means the usual work and activities carried on by the Insured pertaining to his business as specified in the Schedule and no others.

  • Promising practice means a practice that presents, based on preliminary information, potential for becoming a research-based or consensus-based practice.

  • Good Manufacturing Practice or “GMP” means the current good manufacturing practices (cGMP) and all applicable governmental rules and regulations as applied at the site(s) of manufacture and control, as amended from time to time and in effect during the term of this License Agreement.

  • Oil and Gas Business means the business of exploiting, exploring for, developing, acquiring, operating, producing, processing, gathering, marketing, storing, selling, hedging, treating, swapping, refining and transporting hydrocarbons and carbon dioxide and other related energy businesses, including contract drilling and other oilfield services.

  • Prudent Industry Practice means such practices, methods, acts, techniques, and standards as are in effect at the time in question that are consistent with (a) the standards generally followed by the United States pipeline and terminalling industries or (b) such higher standards as may be applied or followed by the HFC Entities in the performance of similar tasks or projects, or by the HEP Entities in the performance of similar tasks or projects.

  • Unsafe or unsound practice means a practice or conduct by a

  • Good Manufacturing Practices means current good manufacturing practices, as set forth in 21 C.F.R. Parts 210 and 211.

  • Practices means that the practice(s) seems like a logical approach to addressing a specific behavior which is becoming distinct, recognizable among Clients and clinicians in practice, or innovators in academia or policy makers; and at least one recognized expert, group of researchers or other credible individuals have endorsed the practice as worthy of attention based on outcomes; and finally, it produces specific outcomes.

  • Past Practice means past practices, accounting methods, elections and conventions.

  • Active practice means post-licensure practice at the level of licensure for which an applicant is seeking licensure in Virginia and shall include at least 360 hours of practice in a 12-month period.

  • Reasonable and Prudent Operator means a person seeking in good faith to perform its contractual obligations and, in the process of doing so and in the overall conduct of its whole undertaking exercising that degree of diligence, skill, prudence and foresight which can reasonably and ordinarily be expected from a skilled and experienced operator engaged in the same type of undertaking under the same or similar circumstances complying with all applicable Laws, and any reference to the standard of a Reasonable and Prudent Operator means such degree of diligence, skill, prudence and foresight as aforesaid.

  • Business Products means all products and services developed (including products and services for which development is ongoing), manufactured, made commercially available, marketed, distributed, sold, provided, imported for resale or licensed out by or on behalf of the Business or a Company since its inception.

  • Business Property means property on which a business is conducted, property rented in whole or in part to others, or held for rental.

  • Covered Business means (A) during the term, any business in which the Company is engaged and (B) after the Term, any business in which the Company was engaged as of the end of the Term.

  • Current Good Manufacturing Practices or “cGMP” means applicable Good Manufacturing Practices as specified in the United States Code of Federal Regulations and/or the EU Good Manufacturing Guidelines, and any successor legislation from time to time, prevailing at the time of the manufacture of the Product.

  • Retained Businesses means all businesses now, previously or hereafter conducted by Parent, the Sellers or any of their Subsidiaries or Affiliates, other than the Business.

  • Sound means an oscillation in pressure, particle displacement, particle velocity or other physical parameter, in a medium with internal forces that cause compression and rarefaction of that medium. The description of sound may include any characteristic of such sound, including duration, intensity and frequency.