Settlement Finality Directive definition

Settlement Finality Directive means Directive 98/26/EC of the European Parliament and of the Council of 19 May 1998 on settlement finality in payment and securities settlement systems (2);
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Settlement Finality Directive. : means the Directive No. 98/26/EC of the European Parliament and Council of 19 May 1998 concerning the settlement finality in payment and securities settlement system, as supplemented and amended.
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Settlement Finality Directive means the Directive 98/26/EC of the European Parliament and of the Council of 19 May 1998 on settlement finality in payment and securities settlement system, as modified from time to time;
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Examples of Settlement Finality Directive in a sentence

  • TARGET2 is legally structured as a multiplicity of payment systems composed of all the TARGET2 component systems, which are designated as ‘systems’ under the national laws implementing the Settlement Finality Directive.

  • Therefore, it neither constitutes a CSD or a securities settlement system5 in the meaning of Article 2 of Directive 98/26/EC (Settlement Finality Directive) in itself, nor is it6 intended to become one in the future.

  • The entirety of these System Agreements constitutes a formal agreement within the meaning of article 2 a) of the Settlement Finality Directive which forms a system within the meaning of the Settlement Finality Directive.

  • The proprietary aspects, including the completion of the legal7 transfers of securities, are determined in accordance with the laws of the country that has notified8 the CSD that has opened the securities account to the European Commission in accordance with9 the procedures foreseen under Directive 98/26/EC (Settlement Finality Directive), as amended, or,10 in the case of a non-EEA country, thus where no notification to the European Commission is11 provided, the law of the country where the CSD is located.

  • A.2. Securities Settlement System Article 1.3.1.4LCH SA has been notified to the European Commission as a system pursuant to the Settlement Finality Directive.

  • As a securities settlement system within the meaning of the Settlement Finality Directive, LCH SA has only direct participants, being the Clearing Members.

  • The objective is to ensure that those financial instruments can be settled in a securities settlement system, as those described by the Settlement Finality Directive (SFD).

  • On securities, three directives address the conflict of laws issues on securities: the Financial Collateral Directive, the Settlement Finality Directive and the Winding-up Directive.

  • Governing law Pursuant to Article 9(2) of the Settlement Finality Directive, the validity and enforceability of a guarantee on book entry securities is assessed according to the law of the Member State where the account, in which the rights with respect to the relevant securities are recorded, is located.

  • In accordance with Article 3 of the Settlement Finality Directive, upon registration in the Clearing System, Trade Legs and netting shall be legally enforceable and shall be binding on third parties.


More Definitions of Settlement Finality Directive

Settlement Finality Directive or “SFD” means Directive 98/26/EC of the European Parliament and of the Council of 19 May 1998 on settlement finality in payment and securities settlement systems, OJ L 166, 11.6.1998, p. 45–50.
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Settlement Finality Directive means Directive 98/26/EC of the European Par- liament and of the Council of 19 May 19981;
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Settlement Finality Directive means Directive 98/26/EC of the European Parliament and of the Council of 19 May 1998 on settlement finality in payment and securities settle- ment systems, as amended from time to time
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Settlement Finality Directive means Directive 98/26/EC of the European Parliament and of the Council of 19 May 199810 as amended by Directive 2009/44/EC of the European Parliament and of the Council of 6 May 200911, Directive 2010/78/EU of the European Parliament and of the Council of 24 November 2010 12, Regulation (EU) No 648/2012 of the European Parliament and of the Council of 4 July 201213, Regulation (EU) No 909/2014 of the European Parliament and of the Council of 23 July 201414 and Directive (EU) 2019/879 of the European Parliament and of the Council of 20 May 201915;”,
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Settlement Finality Directive means Directive 98/26/EC on the settlement finality in payment and securities settlement systems.
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Related to Settlement Finality Directive

  • CRD Directive means Directive 2013/36/EU of the European Parliament and of the Council of 26 June 2013 on access to the activity of credit institutions and the prudential supervision of credit institutions and investment firms, amending Directive 2002/87/EC and repealing Directives 2006/48/EC and 2006/49/EC (as amended from time to time, including by Directive (EU) 2019/878 of the European Parliament and of the Council of 20 May 2019);

  • Settlement Class Counsel means and refers to Xxxxxxxx, Xxxxxxxxxx, & XxXxxxx, P.C.

  • Council Directive means Council Directive 89/552/EEC of 3 October 1989 on the co-ordination of certain provisions laid down by law, regulation or administrative action in Member States concerning the pursuit of television broadcasting activities as amended by Directive 97/36/EC of the European Parliament and of the Council of 30 June 1997 and by Directive 2007/65/EC of the European Parliament and of the Council of 11 December 2007. A simplified and codified version of these Directives was introduced in 2010: the Audiovisual Media Services Directive 2010/13/EU.

  • Change Directive means a written order signed by the procurement officer that

  • Corrective Action Plan has the meaning set forth in Section II.A.2.

  • Waste Framework Directive or “WFD” means Waste Framework Directive 2008/98/EC of the European Parliament and of the Council on waste

  • Regulatory Oversight Committee means the committee of the Board constituted in accordance with Rule 204.

  • Grievance Committee means the Grievance Committee of the Bar.

  • Appeal Committee means the appeal committee established by the Council in terms of section 12(3)(a);

  • UCITS Directive means Directive 2009/65/EC of the European Parliament and of the Council of 13 July 2009 on the coordination of laws, regulations and administrative provisions relating to undertakings for collective investment in transferable securities, as amended;

  • Corrective action means action taken to eliminate the cause of a potential or real non- conformity or other undesirable situation;

  • Dispute Resolution Scheme means the Electricity and Gas Complaints Commission or such other dispute resolution scheme approved or provided for in accordance with section 95 of the Act;

  • Senior procurement executive means, for DoD—

  • Professional Conduct Committee means the professional conduct committee established by the Council in terms of section 12(2)(b);

  • FSA Rules meanss the rules, guidance, principles and codes comprised in the Handbook of Rules and Guidance issued by the FSA. The parties understand and agree that such categorisation is not intended to, and does not, affect the relationship between and among the parties under the 1940 Act or the Advisers Act.

  • Procurement Committee means a Committee constituted by the Employer to perform the functions as such under the terms and conditions of Contract.

  • CEQA means the California Environmental Quality Act.

  • Technical Committee means the body established in accordance with article VII;

  • Labor law decision means an administrative merits determination, arbitral award or decision, or civil judgment, which resulted from a violation of one or more of the laws listed in the definition of “labor laws”.

  • Banning Committee means a Committee constituted for the purpose of these guidelines by the competent authority. The members of this Committee shall not, at any stage, be connected with the tendering process under reference.

  • Final Decision means a final action of the commission determining the legal rights, duties, or privileges of any person. “Final decision” does not include preliminary, procedural, or intermediate actions by the commission, actions regulating the internal administration of the commission, or actions of the commission to enter into or refrain from entering into contracts or agreements with vendors to provide goods or services to the commission.

  • Informed decision means a decision by a qualified patient, to request and obtain a prescription for medication that the qualified patient may self-administer to end his or her life in a humane and dignified manner, that is based on an appreciation of the relevant facts and after being fully informed by the attending physician of:

  • Resettlement Action Plan or “RAP”, means a plan approved by the Association, to be prepared in accordance with the provisions of the RPF, setting forth principles and procedures governing land acquisition or other associated Project impacts, resettlement and compensation of Affected Persons, as well as reporting and monitoring arrangements to ensure compliance with the said plan, as the same may be amended from time to time with the agreement of the Association, and “Resettlement Action Plans” or “RAPs” shall mean such Resettlement Action Plans, collectively.

  • Quality Assurance Program means the overall quality program and associated activities including the Department’s Quality Assurance, Design-Builder Quality Control, the Contract’s quality requirements for design and construction to assure compliance with Department Specifications and procedures.