Compulsory transfer meaning
WebWhen a person initiates preauthorized electronic fund transfers to a consumer's account at least once every 60 days, the account-holding financial institution shall provide notice to the consumer by: (i) Positive notice. Providing oral or written notice of the transfer within two business days after the transfer occurs; or. (ii) Negative notice. WebNov 8, 2012 · The meaning of COMPULSORY is mandatory, enforced. How to use compulsory in a sentence.
Compulsory transfer meaning
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Webcessation of employment (especially if the shareholder is a director or employee of the company) mental or physical incapacity of the shareholder. retirement. The reason for … WebDefine compulsory transfer of business. means the process by which all or part of the assets and liabilities of reporting entity one become the assets and liabilities of reporting entity two pursuant to the meaning given by Part 4 of the Financial Sector (Business Transfer and Group Restructure) Act 1999;
WebOct 25, 2024 · Background. A bad leaver provision in a company's articles requires a shareholder who is also an employee to transfer their shares for less than their market value when they cease to hold office or employment with the company. A penalty is a secondary obligation which, in the event of a breach of a primary obligation under the … WebDefine Compulsory Transfer Notice. has the meaning set out in clause 4.2(B)
WebDefinitions of mandatory transfer. a transfer which is compulsory or required, often transfers which are required under the shareholder' agreement upon the occurrence of particular events such as insolvency (=inability to pay debts as they fall due) or change of control of a shareholder. Shareholder agreements typically have provisions for ... Webcom·pul·so·ry. 1. Obligatory; required: a compulsory examination. 2. Employing or exerting compulsion; coercive. An element, such as a dive or school figure, required of all competitors in an athletic competition.
WebDefine Complex Transfer. means the transfer or relocation of a third-party Attachment or Overlash onto an NBU Utility Pole that will require cutting and splicing of a …
Webother compulsory transfers imposed by government units, property income derived from the ownership of assets, sales of goods and services, and voluntary transfers received from … margaret gellhorn wikipediaWebSep 30, 2024 · This is where leaver provisions kick in. They are compulsory transfer clauses that are included in a shareholders agreement or the articles of association to ensure that on departure the leaving director or employee must transfer his shares, for an agreed value, back to the other shareholders or to the company. Good leaver/bad leaver margaret geyer obituaryWebCompulsory Transfer Event means, in respect of a Shareholder, an event listed in clause 2 (a) of Schedule Four. If a Compulsory Transfer Event occurs in respect of a … kumon learning center amarillo txWebcompulsory definition: 1. If something is compulsory, you must do it because of a rule or law: 2. If something is…. Learn more. kumon j math answer bookWebMar 6, 2024 · Compulsory transfer. Frequently, it will be agreed that an employee shareholder is obliged to sell his or her shares to the company or other shareholders when he or she leaves the company (and becomes a Leaver). ... Also, the tax implications will impacted by the terms on which the shares are issued, the circumstances of any … margaret george school king of prussiaWebCompulsory definition, required; mandatory; obligatory: compulsory education. See more. margaret genshin impactWebJan 2, 2012 · Compulsory purchase orders and time limits. A compulsory purchase order (CPO) allows certain bodies which need to obtain land or property to do so without the consent of the owner. It may be enforced if a proposed development is considered to be in the public interest – for example, when building motorways on land the owner does not … margaret gettle washburn