Private gain definition

Private gain means any benefit which is accepted or received by a public servant or is perceived by a reasonable person to be accepted or received by a public servant, as remuneration for the purpose of improperly influencing an official action in a specific manner or for refraining from the performance of an official action in a specific manner, or as inducement for the public servant to act in favor of some interest other than in the public interest. To clarify, unless the above standard is violated, the following types of benefits, monetary payments, or reimbursements, gifts, or awards may be received by the public servant: payment of salaries, authorized reimbursements, etc.
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Private gain or "personal financial gain" means any money, forbearance, forgiveness of indebtedness, gift, or other thing of value given or offered by a person seeking to influence an official act that is performed in the course and scope of the public duties of a public officer, member of the general assembly, local government official, or government employee.
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Private gain means any direct financial benefit that is different than any financial benefit members of the general public or a significant group of the general public would gain in similar circumstances.4(10)Sole proprietor means (i) the sole owner of a business that is not formed as an entity, or(ii) the sole holder of any equity or ownership interest in a business entity.
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Examples of Private gain in a sentence

  • A Transnet employee uses his / her position, or privileges or information obtained while acting in the capacity as an employee for: a) Private gain or advancement; or b) The expectation of private gain, or advancement, or any other advantage accruing to the employee must be declared in a prescribed form.

  • Any court action to void any transaction must be initiated within 30 days after the city agency involved has, or should have, knowledge of such violation.(k) Private gain.

  • Private gain refers not just to individuals but to families; a clan, village, tribe or caste; political parties and other political groupings; warlords and militias as well as corporations and other economic units.

  • Private gain or personal purpose shall be defined as that in which the personal benefit outweighs any public interest and shall include any County resource use for the benefit of friends, relatives or persons with whom the County officer or employee is affiliated in a governmental or nongovernmental capacity.

  • Private gain means any interest or benefit, in any form, received by a city employee or official.

  • Private gain- acquiring something of value, profiting, receiving payment, or otherwise receiving some form of personal financial or material increase or compensation for self or family member(s), from the university of Akron.

  • Private gain or advantage will not be realized from the use of City time, staff, facilities, equipment, supplies, or influence of City employees.

  • Private gain or advantage shall not be realized for the performance of an act which the employee would be required or expected to perform as part of the employee’s job duties.

  • Private gain includes the receipt of compensation from a third party, to include revenue from advertising, sponsorships or sponsorship agreements, affiliate marketing agreements, or promotion of commercial ventures on personal social media accounts.

  • Private gain is specifically defined as a use for the principal purposes of making a profit not pledged to be used for public or charitable purposes.


More Definitions of Private gain

Private gain means any benefit or monetary gain that is accepted or received by a Trustee, or is perceived by a reasonable person to be accepted or received by a Trustee, as remuneration for the purpose of improperly influencing a Decision or official action in a specific manner or for refraining from making a Decision or performing of an official action in a specific manner, or as inducement for a Trustee to act in favor of some interest or Entity other than in the interest of the College and Board. Unless one or more of the above-standards are violated, the following types of benefits, monetary payments or reimbursements, Gifts, awards or emoluments may be received by a Trustee as:
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Related to Private gain

  • Partnership Minimum Gain has the meaning set forth in Regulations Section 1.704-2(b)(2), and the amount of Partnership Minimum Gain, as well as any net increase or decrease in Partnership Minimum Gain, for a Partnership Year shall be determined in accordance with the rules of Regulations Section 1.704-2(d).

  • Partner Nonrecourse Debt Minimum Gain has the meaning set forth in Treasury Regulation Section 1.704-2(i)(2).

  • Member Nonrecourse Debt Minimum Gain means an amount, with respect to each Member Nonrecourse Debt, equal to the Company Minimum Gain that would result if the Member Nonrecourse Debt were treated as a Nonrecourse Liability, determined in accordance with Treasury Regulations Section 1.704-2(i)(3).

  • Company Minimum Gain has the meaning given the term “partnership minimum gain” in Sections 1.704-2(b)(2) and 1.704-2(d) of the Regulations.

  • Partner Minimum Gain means an amount, with respect to each Partner Nonrecourse Debt, equal to the Partnership Minimum Gain that would result if such Partner Nonrecourse Debt were treated as a Nonrecourse Liability, determined in accordance with Regulations Section 1.704-2(i)(3).

  • Gain means a gain of any property, whether temporary or permanent, and includes the keeping by a person of any property that he or she already has;

  • Member Minimum Gain means an amount, with respect to each Member Nonrecourse Debt, equal to the Company Minimum Gain that would result if such Member Nonrecourse Debt were treated as a Nonrecourse Liability.

  • Residual Gain or “Residual Loss” means any item of gain or loss, as the case may be, of the Partnership recognized for federal income tax purposes resulting from a sale, exchange or other disposition of a Contributed Property or Adjusted Property, to the extent such item of gain or loss is not allocated pursuant to Section 6.2(b)(i)(A) or Section 6.2(b)(ii)(A), respectively, to eliminate Book-Tax Disparities.

  • Class B Unit means a Partnership Unit which is designated as a Class B Unit of the Partnership.

  • Precontribution Gain has the meaning set forth in subparagraph 4(c) of Exhibit B.

  • Nonrecourse Built-in Gain means with respect to any Contributed Properties or Adjusted Properties that are subject to a mortgage or pledge securing a Nonrecourse Liability, the amount of any taxable gain that would be allocated to the Partners pursuant to Section 6.2(b) if such properties were disposed of in a taxable transaction in full satisfaction of such liabilities and for no other consideration.

  • OP Unit Economic Balance has the meaning set forth in Section 6.03(c) hereof.

  • Common Unit Economic Balance has the meaning set forth in Section 5.01(g) hereof.

  • Minimum Gain means “partnership minimum gain” determined pursuant to Treasury Regulation Section 1.704-2(d).

  • Partner Nonrecourse Debt has the meaning set forth in Treasury Regulation Section 1.704-2(b)(4).

  • Member Nonrecourse Debt has the meaning of “partner nonrecourse debt” set forth in Treasury Regulations Section 1.704-2(b)(4).

  • Economic loss means any of the following types of pecuniary harm:

  • Net Termination Gain means, for any taxable year, the sum, if positive, of all items of income, gain, loss or deduction recognized by the Partnership (a) after the Liquidation Date or (b) upon the sale, exchange or other disposition of all or substantially all of the assets of the Partnership Group, taken as a whole, in a single transaction or a series of related transactions (excluding any disposition to a member of the Partnership Group). The items included in the determination of Net Termination Gain shall be determined in accordance with Section 5.5(b) and shall not include any items of income, gain or loss specially allocated under Section 6.1(d).

  • Net Economic Return shall have the meaning ascribed to such term in paragraph 2 of Exhibit E to the Lease.

  • Broad-Based Black Economic Empower-ment Act means the Broad-Based Black Economic Empowerment Act, 2003 (Act No. 53 of 2003);

  • Member Nonrecourse Deduction means “partner nonrecourse deduction” as defined in Treasury Regulations Section 1.704-2(i), substituting the term “Member” for the term “partner” as the context requires.

  • Member Nonrecourse Deductions has the meaning of “partner nonrecourse deductions” set forth in Treasury Regulations Sections 1.704-2(i)(1) and 1.704-2(i)(2).

  • Wastewater treatment unit means a device which:

  • Partner Nonrecourse Deductions has the meaning set forth in Regulations Section 1.704-2(i)(2), and the amount of Partner Nonrecourse Deductions with respect to a Partner Nonrecourse Debt for a Partnership taxable year shall be determined in accordance with the rules of Regulations Section 1.704-2(i)(2).

  • Book Capital Account means, for any Holder at any time, the Book Capital Account of the Holder for such day, determined in accordance with Section 8.1 hereof.