Any right of patronage exerted by the Pope. Provision is defined as a supply of something or to the act of providing a supply of something. Define statutory provision. 2.22 Once the court has determined that the applicant is a person for whom the deceased had responsibility to provide, it may only order provision, or further provision, for an applicant if it determines that the deceased person’s will or the operation of intestacy provisions has failed to make adequate provision for the applicant’s proper maintenance and support. The most common type of provision is a provision for bad debt. proviso noun. Contract Provision Example. An arrest shall be made in accordance with the provisions of this Act. Learn more. tax provision meaning: 1. in a company's accounts, an amount of money that is kept for future tax payments : 2. part of a…. However, rule of law values could bolster a construction otherwise justified by interpretive factors such as text, structure and purpose. places in the hands of a drawee; as, for example, by remittances, or when Acceptance always presumes a provision. 2. 2. the providing or supplying of something, esp. A read down meaning of a provision reached after applying the presumption of valid meaning is no more a secondary or ‘new ... rule of law values alone may not justify ascribing such a meaning to a provision. An example of provision is when legal aid provides legal advice. A clause in a legal document. contractual provision noun. Provision Alternative Definition. Examples—provisions consisting of groups of other provisions . PROVISION, French law. Phrase Bank for statutory provision ... Over 15,000: Sound files: Over 30,000: Sign up. Law had never been her area of interest initially, but gradually as she completed a year in law school, she was drawn to the contemporary issues involving human rights and literature. In income statements, the appearance of provision for income tax would refer to that expense. support; which is to be paid before there is a definitive judgment. The provisions of this Act were engrafted in S.95 of the 1939 Act and S.146 of the 1988 Act. means a provision, whether of a general or a special nature, contained in, or in any document made or issued under, any Act, whether of a general or special nature, Contracts Meaning and definitions of provision, translation of provision in Hindi language with similar and opposite words. 'Adequate provision' for 'proper maintenance and support'. Tags for the entry "provision" What provision means in Hindi, provision meaning in Hindi, provision definition, explanation, pronunciations and examples of provision in Hindi. Meaning and Definition of Calls. In income statements, the appearance of provision for income tax would refer to that expense. The provisions are – provision of law This is a limited preview — please sign in or subscribe to learn everything we know about the term “ provision of law ”. provision of law phrase. Image: Calls on Shares – Meaning, Provisions, Procedure. While studying the balance sheet, students often might have noticed an entry known as provisions, which was listed on the liabilities side of a balance sheet. Save time and money for you and your clients with our unique knowledge base. Provision for income tax (United States GAAP) In American English, the word provision is used as a synonym for "expense", especially when it appears in a phrase that refers to the income tax cost incurred by a business during an income statement period. Provision is a term with varied meanings. See more. In a Improve your Legal English skills. In the legal context it could mean a clause in a statute, contract or other legal document. reasonable financial provision noun. Orders for provision and property that may be subject to an order. This article will help you in understanding the concept of a provision in accounting and the need for the creation of such a provision. Choice-of-law clauses regularly contain the phrase excluding its conflicts of law provisions (or, equally, …excluding its private international law rules).It is used so often and yet is so useless that a clarification is desirable. Provision Meaning and Examples. Meaning, pronunciation, picture, example sentences, grammar, usage notes, synonyms and more. Learn more. Provision definition: The provision of something is the act of giving it or making it available to people who... | Meaning, pronunciation, translations and examples The provision of Dowry Death was added in the Indian Penal Code, 1860 in 1986 vide Criminal Law (Amendment) Act 43 of 1986. In the legal context it could mean a clause in a statute, contract or other legal document. a particular item or matter expressly and directly stipulated in a written law or legal instrument and intended to have legal effect). More Definitions of General Provisions General Provisions. We increased our provision for bad debts on credit sales going into the recession. A call may be defined as a demand made by the company on its shareholders to pay a part or the whole of the unpaid balance within a specified time. Sample 1 the usage of some words change with time. Sample 1 The following is an example of a state law (Montana) defining a particular provision: Mont. This means that if a later law and an earlier law are potentially—but not necessarily—in conflict, courts will adopt the reading that does not result in an implied repeal of the earlier statute. V CONCLUSION. 5, Brief for Appellants in Nos. : shall mean the terms “can”, “may”, “should”, “preferable”, or “prefers” identifies a desirable or discretionary item of the RFP. Therefore, everytime a bank makes a loan, it has to set up the corresponding provision to cover the eventuality of that loan going into default; in other words, banking institutions’ P&L accounts include two types of provisions, recorded to cover credit risks: generic provisions, allocated at the time the loan is approved; and specific provisions, set up to cover loan defaults. Provision of law enforcement, traffic control, and access control within the disaster area(s) and in any other needed areas of the Town;8. https://legal-dictionary.thefreedictionary.com/Provision, 'This sector consists of the ministries of housing, power, water resources among others and that accounts for its high budgetary, Almost all the UAE banks witnessed a high growth in, In the post-Enron SOX world, the outside auditors can no longer do the income tax, Under the process-of-nature rule for policy, Not surprisingly, those who will be most directly impacted by the, Although beyond the scope of this article, it is also worth noting that the decision may well have an impact reaching beyond guaranties to impact any contract, This year Congress is debating reauthorization of the expiring, (b) The description of the condition in subparagraph 56.4(7)(d)(ii) is extremely confusing and the facts and circumstances to which it would apply to permit a taxpayer to avail itself of subsection 56.4(5) are unclear (since the latter, The following is an overview of some of AB 115's, Senate and House of Representatives in July voted to extend 14 of the 16, Dictionary, Encyclopedia and Thesaurus - The Free Dictionary, the webmaster's page for free fun content, Brief for Appellants in Nos. a particular item or matter expressly and directly stipulated in a written law or legal instrument and intended to have legal effect). See Code de Comm. It can also be a stipulation or qualification made beforehand. "Provision" is the proper "umbrella" word that denotes the broader meaning described above (i.e. All content on this website, including dictionary, thesaurus, literature, geography, and other reference data is for informational purposes only. Eligibility to make an application: persons for whom the deceased had a responsibility to provide. It is not quite a term of art. PROVISION, com. A provision for bad debt is one that has been calculated to cover the debts encountered during an accounting period that is not expected to be paid. Google Images. It can set government procedures (like the Social Security Act). Generally speaking though, the phrase is usually used within a contract or statute in connection with the statement of a general rule that is intended to govern a particular matter, right or obligation. provision in the Law topic by Longman Dictionary of Contemporary English | LDOCE | What you need to know about Law: words, phrases and expressions | Law A contract provision often requires action by a specific date or within a specified period of time. Subsequently, ‘the road traffic Act,1930’ was enacted which provided for compulsory insurance for Motor Vehicles. Failure to comply with such an item will not result in the rejection of the Offeror’s proposal. See more. These issues are often dealt with in a single provision but can also be dealt with separately. Service provision is a term used to describe a wide range of activities, including the provision of assistive devices, rehabilitation services, occupational therapy and health services. 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