Exempt
41exempt property — Property that may not be seized by creditors and does not have to be forfeited in Chapter 7 bankruptcy. Each state has its own list of exempt property; in some states, debtors may choose between the state s list and a federal list. Typically,… …
42exempt person — A person who is exempt from the general prohibition under the Financial Services and Markets Act 2000, in respect of the activities it carries on. Exempt persons can therefore carry on regulated activities (regulated activity) without… …
43exempt supply — A supply of goods or services falling within Schedule 9 of the Value Added Tax Act 1994. A person making exempt supplies is not required to account for output tax on the exempt supplies but is unable to recover the input tax on those supplies… …
44exempt transfer of value — (for inheritance tax) England, Wales A transfer of value (broadly, a gift) made in lifetime or on death that is exempt from inheritance tax. For example, gifts to certain favoured beneficiaries (beneficiary) such as a spouses, civil partners and… …
45exempt transfer of value (for inheritance tax) — England, Wales A transfer of value (broadly, a gift) made in lifetime or on death that is exempt from inheritance tax. For example, gifts to certain favoured beneficiaries (beneficia …
46exempt employees — USA Under the Fair Labor Standards Act (FLSA), employees who are exempt from coverage for minimum wage payment requirements and/or overtime requirements because they qualify for one or more exemptions carved out by the FLSA. The primary and most… …
47exempt agreements — Under the Consumer Credit Act 1974, a regulated agreement is an agreement involving credit not exceeding ₤15,000 to a debtor which is not a limited company and the agreement is not an exempt agreement. Exempt credit agreements include normal… …
48Exempt property — Exempt property, under the law of property in many jurisdictions, is property that can neither be passed by will nor claimed by creditors of the deceased in the event that a decedent leaves a surviving spouse or surviving descendants. Typically,… …
49exempt fund manager — A person who manages investment accounts on a discretionary basis and is recognised by the Panel on Takeovers and Mergers as an exempt fund manager for the purposes of the City Code on Takeovers and Mergers. Practical Law Dictionary. Glossary of… …
50exempt market maker — A person who is registered as a market maker with the London Stock Exchange in relation to the securities in the target company or, if applicable, the bidder, or is accepted by the Panel on Takeovers and Mergers as a market maker in those… …
