The statutory compliance clause requires all parties to adhere to applicable laws, regulations, and legal standards relevant to the contract's execution and subject matter. It aims to ensure that all actions, obligations, and deliverables under the contract comply with current legal requirements, mitigating legal risks and potential liabilities.
4.3 STATUTORY COMPLIANCE AND AUDIT COMMITTEE · Assess, prior to analysis by the Board of Directors, the compliance of the Related Party Transactions subject to the Board’s authority, as established in the Bylaws of the Company and this Policy, recommending whether such transaction be carried out or not; · Monitor the Related Party Transactions approved by the Board or the Ethics Committee, as applicable, including their respective evidence, jointly with the Board of Executive Officers and the internal audit area; · Monitor compliance with the guidelines of this Policy; and · Review, prior to submission to the Board of Directors, any changes to the content of this Policy and propose improvements to it.
(b) If any provision of this Agreement is held invalid or unenforceable, the remaining provisions shall continue to be in full force and effect to the maximum extent permitted by law. If the implementation or presence of any provision of this Agreement would or will cause the Plan and thereby the Shares purchased thereunder to not be in compliance with Rule 16b-3 under the Securities Exchange Act of 1934, as amended, or any other statutory provision, such Agreement provision shall not be implemented or, at the Company's option following notice, such provision shall be severed from the Agreement as is appropriate or necessary to achieve statutory compliance; provided, however, that the parties hereby agree to negotiate in good faith as may be necessary to modify this Agreement to achieve statutory compliance or otherwise effectuate the intent of the parties following a severance permitted by this Section VII(b).
(c) Upon receipt of the Make Good Payment by the Landlord the Tenant will be released from its make good obligations under this lease (including the obligations in clauses 12.1 to 12.3), provided it: (i) reinstates and makes good all penetrations into of the adjacent premises at 343 George Street, Sydney caused or carried out on or behalf of the Tenant including without limit the interconnecting wall and provides any proof of statutory compliance (if required);
Sapiens ReinsurancePro manages the entire range of reinsurance contracts and activities for all lines of business. Built-in automation of contracts, calculations and processes provide flexible and full financial control of the reinsurance processes, including auditing requirements and statutory compliance.
2. Appointment of Wis Audit Pty Ltd as the Company’s auditor for the purposes of statutory compliance with the requirements under the Australian Corporations Act 2001 (Cth).
4.2 Statutory Compliance & Audit Committee (“SCAC”) · Verify, at least semiannually, if trading in the Securities of the Company by Team Members participating in Investment or Divestment Plans complies with the commitments undertaken by said Team Members in the respective plans formalized by them with the Investor Relations Officer of the Company.
9.1. FINANCIAL STATEMENTS: To Approve, by majority vote of common shareholders of the Company, after recording the abstentions, including of those legally barred, as per the vote map in Exhibit I, the Company’s Financial Statements containing the Notes, duly accompanied by Reports from the Company’s independent auditors, KPMG Auditores Independentes, and the Fiscal Council, and the Summarized Annual Report from the Statutory Compliance and Audit Committee, all related to fiscal year ended December 31, 2023.
This AGM is a routine meeting held for statutory compliance purposes. The agenda requires only two annually recurring voting issues. One being re-election of incumbent directors, and one being re-appointment of our auditors for the coming year. There are no other agenda items. Management does not intend to make a presentation or open the floor to discussions or questions. Proposals from the floor for any other business will not be accepted. For your own safety and for the safety of those persons you may come into contact with, the Company recommends that shareholders do NOT attempt to physically attend the AGM in-person.
1.3 The costs and expenses of statutory compliance, audit and administration of Company incurred in the ordinary course of business shall be borne by Vettons City.
5. Compliance with Local Laws The Strategic Consultant will be responsible for legal and statutory compliance with local laws, taxation and any other business of other laws or any other country to which he may be deputed. The Strategic Consultant will indemnify the Company all costs, including any interest, penalties and legal expenses and fees that the Company may incur as a result of non-compliance with any laws or acts as applicable to an independent service provider.
4.2 STATUTORY COMPLIANCE AND AUDIT COMMITTEE · Assess the Qualification resulting from Indemnity Commitments already signed with Officers Appointed by the Bylaws, Former Officers Appointed by the Bylaws, Vice-Presidents and Former Vice-Presidents of the Company, as well as analyze and approve the respective Expenditures; · Assess the Qualification and approve the execution of an Indemnity Instrument with Former Officers Appointed by the Bylaws, Former Vice-Presidents, Members of the Fiscal Council and Former Members of the Fiscal Council, Members and Former Members of the Company, as well as analyze and approve the respective Expenditures; · Provide an opinion, prior to the assessment by the Board of Directors, about the Qualification, the execution of an Indemnity Instrument, as well as the respective Expenditures in the cases within the competence of the Board of Directors; · Provide an opinion, prior to consideration by the Board of Directors, on any change to this Policy; and · Monitor, every six months, the Expenditures resulting from Indemnity Commitments that have been granted by the CCAE.
Statutory compliance refers to the legal framework that organizations must operate within to ensure they adhere to statutes and regulations set by governmental bodies. These laws cover various aspects including employment, taxation, environmental regulations, corporate governance, and more. Ensuring statutory compliance is essential for mitigating legal risks and penalties.
You should focus on statutory compliance whenever your organization engages in activities that are regulated by law. Key situations include:
When writing about statutory compliance, clarity and accuracy are paramount. You should:
Example:
The organization must adhere to the Occupational Safety and Health Administration (OSHA) regulations to ensure a safe work environment. Failure to comply could result in hefty fines and legal action. Steps to ensure compliance include regular safety audits, employee training programs, and immediate remediation of identified hazards.
Various contracts often include clauses on statutory compliance to safeguard the interests of involved parties. These include:
Example:
The supplier agrees to comply with all relevant federal, state, and local laws, including but not limited to, fair labor standards, environmental protection regulations, and anti-corruption statutes, as part of this Vendor Agreement.
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