Transferring Trustee definition

Transferring Trustee means the trustee of another Approved Benefit Arrangement to which the Tax Act applies which has transferred moneys referred to in Rule 29.1 to the Trustee.
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Examples of Transferring Trustee in a sentence

  • The Transferring Trustee must not allow a judgment to be entered against it by inaction, admit any liability or effect a settlement or compromise unless it has given to the Receiving Trustee a reasonable opportunity to defend the claim.

  • The Transferring Trustee has no duty to see to the application of the assets so transferred.

  • The Transferring Trustee and the Receiving Trustee each enter into this deed in their capacity as the present trustees of the Transferring Scheme and the Receiving Scheme respectively.

  • If the Receiving Trustee decides to defend the claim the Transferring Trustee must allow the Receiving Trustee full conduct of the claim and provide to the Receiving Trustee such assistance as it reasonably requires, subject to the Receiving Trustee indemnifying the Transferring Trustee against, and securing the Transferring Trustee to its reasonable satisfaction against, all liabilities in connection with any such defence.

  • The Transferring Trustee is the trustee of [the Water Company Sub-Fund of] the Biwater Retirement and Security Scheme (the Transferring Scheme) governed in accordance with trust deeds and rules dated 1 April 2003 (the Ex-WCAPS Edition governing provisions) and 24 June 2003 (the Main Edition governing provisions) as subsequently amended (respectively the Transferring Deeds and the Transferring Rules and together the Transferring Deeds and Rules).

  • The Transferring Trustee shall, on the Payment Date (as defined in the Agreement) transfer the Final Transfer Amount to the Receiving Trustee (to be held by it upon the trusts of the Receiving Scheme and with and subject to the powers and provisions for the time being applicable to other property held upon the trusts of the Receiving Scheme).

  • Within five working days of receipt of the transfer referred to in clause 1 above the Receiving Trustee shall write to the Transferring Trustee acknowledging receipt of such.

  • The transfer to be made under clause 1 above shall operate as a complete discharge to the Transferring Trustee in respect of the benefits to which the Final Transfer Amount relates.

Related to Transferring Trustee