operate
verb

to be in force

Examples
  • The new terms of service will operate from January 1st.

  • The rules operate on inland postal services only.

"...the company gets valuable restaurant locations which will be converted to the family-style restaurant chain that it operates and franchises throughout most parts of the US" [Fortune]

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effect
laissez-faire
regional bank
Chicago Board Options Exchange (CBOE)
rulebook
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real return after tax
as per
volume of output
tax pressure
Society for Worldwide Interbank Telecommunications (SWIFT)