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.

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 strong controls over the administration and management of investment accounts.

  • Sound business practice mandates adequate administration of cash receipts.

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 (a) the applicable practices, methods and acts required by or consistent with applicable laws and reliability criteria, and otherwise engaged in or approved by a significant portion of the electric power industry during the relevant time period in the Western United States, or (b) any of the practices, methods and acts which, in the exercise of reasonable judgment in light of the facts known at the time the decision was made, could have been expected to accomplish the desired result at a reasonable cost consistent with good business practices, reliability, safety and expedition. Prudent Operating Practice is not intended to be limited to the optimum practice, method or act to the exclusion of all others, but rather to acceptable practices, methods or acts generally accepted in the electric power industry in the Western United States.

  • Licensed Business means the functions and activities, which the Licensee is required to undertake in terms of the License granted by the Commission or as a deemed Licensee under the Act;

  • Best Practice means in accordance with the best practice within the industry of the Contractor

  • 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 applicable from time to time to the manufacturing of a Product or any intermediate thereof pursuant to Applicable Law.

  • Oil and Gas Business means (i) the acquisition, exploration, development, production, operation and disposition of interests in oil, gas and other Hydrocarbon properties, (ii) the gathering, marketing, treating, processing (but not refining), storage, selling and transporting of any production from such interests or properties, (iii) any business relating to exploration for or development, production, treatment, processing (but not refining), storage, transportation or marketing of oil, gas and other minerals and products produced in association therewith and (iv) any activity that is ancillary to or necessary or appropriate for the activities described in clauses (i) through (iii) of this definition.

  • Prudent Industry Practice means, at a particular time, (a) any of the practices, methods and acts engaged in or approved by a significant portion of the competitive electric generating industry at such time, or (b) with respect to any matter to which clause (a) does not apply, any of the practices, methods and acts which, in the exercise of reasonable judgment at the time the decision was made, could have been expected to accomplish the desired result at a reasonable cost consistent with good business practices, reliability, safety and expedition. "Prudent Industry Practice" is not intended to be limited to the optimum practice, method or act to the exclusion of all others, but rather to be a spectrum of possible practices, methods or acts having due regard for, among other things, manufacturers' warranties and the requirements of any Governmental Entity of competent jurisdiction.

  • Unsafe or unsound practice means a practice or conduct by a person licensed to engage in money transmission or an authorized delegate of such a person, which creates the likelihood of material loss, insolvency, or dissipation of the licensee’s assets, or otherwise materially prejudices the interests of its customers.

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

  • Good engineering practice (GEP) stack height means the greater of:

  • 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 a minimum of 160 hours of professional practice as a physical therapist or physical therapist assistant within the 24-month period immediately preceding renewal. Active practice may include supervisory, administrative, educational or consultative activities or responsibilities for the delivery of such services.

  • Reasonable and Prudent Operator means a person seeking, in good faith, to perform its contractual obligations and, in so doing and in the general conduct of its undertaking, exercising that degree of skill, diligence, prudence and foresight which would reasonably and ordinarily be expected from a skilled and experienced operator complying with all applicable Legal Requirements engaged in the same type of undertaking in similar circumstances and conditions;

  • Business Products means any and all products or services made, developed, manufactured, sold, licensed, leased, rendered, provided or delivered by (i) a Seller Entity within the scope of the Business, or (ii) an Acquired Entity, but, for the avoidance of doubt, specifically excludes products made, developed or sold within the scope of the Wolfspeed Business or any other Retained Business.

  • 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 (i) the good manufacturing practices required by the FDA and set forth in the FD&C Act or FDA regulations (including without limitation 21 CFR §§ 210 and 211), in effect at any time during the Term of this Agreement, for the Manufacturing and testing of pharmaceutical materials as applied solely to Contracted Products; and (ii) the corresponding requirements of each applicable Regulatory Authority (as defined below).

  • 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.