Proceeds - Law Dictionary Search Results
Home Dictionary Name: proceedsProceeds of terrorism
Proceeds of terrorism, means all kinds of properties which have been derived or obtained from commission of any terrorist act or have been acquired through funds traceable to a terrorist act, irrespective of person in whose name such proceeds are standing or in whose possession they are found, and includes any property which is being used, or is intended to be used, for the purpose of a terrorist organisation. [Unlawful Activities (Prevention) Act, 2004, s. 2(g)]Proceeds of terrorism, shall mean all kinds of properties which have been derived or obtained from commission of any terrorist act or have been acquired through funds traceable to a terrorist act, and shall include cash, irrespective of person in whose name such proceeds are standing or in whose possession they are found. [Prevention of Terrorism Act, 2000 (15 of 2002), s. 2(c)]...
proceeds
proceeds 1 : money or other property received as the result of a sale or other transaction esp. involving collateral [retain a security interest in the of collateral] 2 : money received from an insurance policy ...
Proceeds
Proceeds, the sum, amount, or value of land, investments, or goods, etc., sold, or converted into money....
Proceeds of crime
Proceeds of crime, means any property derived or obtained, directly or indirectly, by any person as a result of criminal activity relating to a scheduled offence or the value of any such property. [Preven-tion of Money-Laundering Act, 2002, s. 2(1)(u)]...
Proces verbal
Proces verbal [fr.], an authentic minute of an official act, or statement of acts....
Trust for sale
Trust for sale. Trusts for sale of land were commonly crated in settlements and well-drawn wills. The effect was to convert realty into personalty so that the proceeds devolved upon the beneficiaries as personalty unless they elected to take the property as realty (see CONVERSION), except that upon a lapse of the devise of realty in the testator's lifetime the property resulted to the heir-at-law, Ackroyd v. Smithson, (1780) 1 Bro CC 503. Another and more practical consequence was that the whole estate was vested as a rule in the trustees so that with or without consent of any other person as directed by the donor or testator they could vest the whole estate in a purchaser without his seeing to the application of the purchase money (Trustee Act, 1893, s. 14), and without participation of beneficiaries whose consent was not required, thus providing an expedient, which, together with the Settled Land Acts and other statutes giving analogous powers to mortgagees, personal representatives ...
beneficiary
beneficiary pl: -ries : a person or entity (as a charity or estate) that receives a benefit from something: as a : the person or entity named or otherwise entitled to receive the principal or income or both from a trust compare settlor, trustee contingent beneficiary : a beneficiary that may receive proceeds from a trust depending on the occurrence of a specified event (as the death of another beneficiary) income beneficiary : a beneficiary that according to the provisions of a trust is to receive income but not the principal of the trust NOTE: A trust may provide for income to be paid to someone (as a spouse) for his or her lifetime and then for payment of the principal to another person. A trustee is sometimes allowed to distribute some of the principal of the trust to an income beneficiary when necessary for the support of the beneficiary if support of the beneficiary was the purpose of the trust. b : the person or entity named by the insured of a life insurance policy to r...
From
Out of the neighborhood of lessening or losing proximity to leaving behind by reason of out of by aid of used whenever departure setting out commencement of action being state occurrence etc or procedure emanation absence separation etc are to be expressed It is construed with and indicates the point of space or time at which the action state etc are regarded as setting out or beginning also less frequently the source the cause the occasion out of which anything proceeds the antithesis and correlative of to as it is one hundred miles from Boston to Springfield he took his sword from his side light proceeds from the sun separate the coarse wool from the fine men have all sprung from Adam and often go from good to bad and from bad to worse the merit of an action depends on the principle from which it proceeds men judge of facts from personal knowledge or from testimony...
Prize Court
Prize Court. This is an international tribunal, existing only by virtue of a special commission under the Great Seal, during war or until the litigations incident to war have been brought to a conclusion. It is frequently confounded with the Court of Admiralty, in consequence, perhaps, of the same judge having usually presided in both courts; but this is a mistake, for the whole system of litigation and jurisprudence in the prize Court, though exceedingly important, is peculiar to itself, and is governed by rules not applying to the Instance Court of the Admiralty (now part of the High Court), which is a mere civil tribunal.The old Court of Admiralty had in fact from very ancient times two separate and distinct jurisdictions--the Instance Jurisdiction and the Prize Jurisdiction, though the real origin of the latter is wrapped in obscurity. When the High Court of Admiralty became merged in the High Court of Justice, (English) Jud. Act, 1925, s. 23, replacing the (English) Jud. Act, 1891...
Statutory trusts
Statutory trusts. for the purposes of the (English) Law of Property Act, 1925, land held upon 'statutory trusts' shall be held upon trust for sale and to stand possessed of the net proceeds of sale after payment of costs and net rents and profits until sale subject to rates, taxes, and cost of insurance, repairs, and other outgoings, upon trust for the persons entitled under the settlement, including incumbrancers of former undivided shares, or not secured by a legal mortgage, and where an undivided share was subject to a settlement and the settlement remains subsisting in respect of other property and the trustees of the settlement are not the same persons as the trustees for sale the settled portion of the proceeds of sale is to be handed over to the settlement trustees as capital money under the (English) Settled Land Act, 1925 (s. 35 of the Law of Property Act, 1925). By s. 25, (English) L.P. Act, 1925, the trustees have power to postpone the sale unless a contrary direction appear...
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