According to the final rule, “The conduit exception is a narrow one and is intended to exclude only those entities providing mere courier services, such as the U.S. Postal Service or United Parcel Service and their electronic equivalents, such as internet service providers (ISPs) providing mere data transmission services.”
Because this clearing agent was a “financial institution” within the definition of section 546(e), Tribune, as its principal, was also a “financial institution” and, thus, within the safe harbor’s protection.By shifting the focus from the financial institution as a “mere conduit” to an “agent,” the Second Circuit functionally Conduct definition, personal behavior; way of acting; bearing or deportment. See more. Dec 29, 2019 · If the beneficiary did not meet the requirements of a designated beneficiary, e.g. a non-conduit trust or the estate of the plan holder, then the funds had to be distributed over a mere 5 years if Oct 14, 2014 · The Fourth Circuit, without much comment, held that such a finding would eviscerate the mere conduit defense – “because a conduit, by definition, has an obligation to pass these funds on to a third party,” “a conduit would always be contingently liable – and thus an entity for whose benefit a transfer is made.” Id. at 405. Synonyms for conduit at Thesaurus.com with free online thesaurus, antonyms, and definitions. Find descriptive alternatives for conduit.
ECD does not provide for a legal definition of “online intermediaries” The notion is defined through the activities described in Articles 12 to 14 of the ECD Mere Conduit , Caching and Hosting Only these activities can be exempted, which means that for some service provider could be held liable 17/06/2013
E. CONDUIT ORGANIZATIONS - CHARITABLE DEDUCTIBILITY AND EXEMPTION ISSUES by Ruth Rivera Huetter and Bill Brockner When computing one's tax return, most Americans know that they cannot count tuition payments as a charitable deduction, even though the check is made out to the section 501(c)(3) educational institution. May 06, 2015 · If it is a “mere conduit”, meaning it has no discretion or control over the funds, the arrangement fails and the transaction is treated by the IRS as one directly between the donor and the non-exempt entity, and therefore it is not tax-deductible. (See Rev. Rul. 62-113 1962-1 C.B. 10. The preamble explicitly states that the “mere conduit” exception is intended to include organizations that deal with “any temporary storage of transmitted data incident to such transmission.” The preamble goes on to define the distinction between transmission (including incidental storage associated with such transmission) and ongoing ECD does not provide for a legal definition of “online intermediaries” The notion is defined through the activities described in Articles 12 to 14 of the ECD Mere Conduit , Caching and Hosting Only these activities can be exempted, which means that for some service provider could be held liable 17/06/2013
conduit something which leads something else along. In the law of European E-COMMERCE, a person who is given special immunity, sometimes expressed as a ‘mere’ conduit importing a lack of involvement in the carrying. Most likely it will apply to an Internet service provider.
Conduit definition, a pipe, tube, or the like, for conveying water or other fluid. See more. Mere definition is - being nothing more than. How to use mere in a sentence. ‘At common law the agent recipient is regarded as a mere conduit for the money, which is treated as paid to the principal, not to the agent.’ ‘By its definition, money laundering is a conduit for trading criminal money.’ As discussed in our articles on New Value Defense and Ordinary Course of Business Defense in bankruptcy, payments made to creditors within ninety days of filing bankruptcy (or longer if the creditor is an “insider”) can be retrieved by the Trustee in bankruptcy to be divided pro rata among the other creditors even if the payment was for legitimate debts due and owing.