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A safe harbor is a provision of a statute or a regulation that specifies that certain conduct will be deemed not to violate a given rule. It is usually found in connection with a more-vague, overall standard. By contrast, "unsafe harbors" describe conduct that will be deemed to violate the rule.
Nov 21, 2020 · A safe harbor is a legal provision to sidestep or eliminate legal or regulatory liability in certain situations, provided that certain conditions are met. The phrase safe harbor also has uses...
T he Safe Harbor Provision under the Anti-Money Laundering Act intends to shield persons and entities from administrative, criminal or civil liability for making a covered transaction report in the regular performance of duties and in good faith.
Safe harbor is a clause in a rule, regulation or agreement which exempts the entity from penalties or oversight. It provides protection from the turbulence of rules and regulations. It is the opposite of unsafe harbor, which describes a conduct that will be deemed to be in breach of a rule or regulation.
Feb 3, 2021 · Safe Harbor Provision. - No administrative, criminal or civil proceedings shall lie against any person for having made a covered transaction or suspicious transactaction report in the regular performance of his duties and in good faith, whether or not such reporting results in any criminal prosecution under the AMLA or any other Philippine law.
Feb 24, 2021 · A safe harbor is a provision in a law that affords protection from liability or penalty when certain conditions are met. The safe harbor concept is used in several areas of law, including taxation, such as the provision for a Safe Harbor 401(k).
A Safe Harbor is a provision in law or regulation that affords protection from liability or penalty and reduces liability if certain conditions are met. Examples discussed in this article: Business Judgment Rule.
A safe harbor, or legal protection, is a provision that shields individuals or entities from liability or penalties for certain actions, as long as they meet specific conditions outlined in the law. In normal language you would also say " legal protection " instead of " safe harbor "
A safe harbor refers to a provision that provides protection from liability or penalties under specific situations or conditions. A safe harbor provision may be included in statutes or regulations to give peace of mind to good-faith actors who might otherwise violate the law on technicalities beyond their reasonable control.
Feb 15, 2021 · MANILA, Philippines — Philippine banks want a “safe harbor” provision in the proposed amendments to the country’s bank secrecy law to shield industry players from possible civil liability in...
