THE BILATERAL NETTING OF QUALIFIED FINANCIAL CONTRACTS ACT, 2020

ACT NO. 30 OF 2020 · Enacted [28th September, 2020.] · 11 sections

PRELIMINARY

Section 1.Short title and commencement.

Section 2.Definitions.

APPLICATION OF ACT

Section 3.Applicability of Act.

Section 4.Powers of authority.

Section 5.Enforceability of netting.

INVOCATION OF CLOSE-OUT NETTING

Section 6.Invocation of close-out netting.

Section 7.Net amount.

LIMITATIONS ON POWERS OF ADMINISTRATION PRACTITIONER

Section 8.Limitations on powers of administration practitioner.

MISCELLANEOUS

Section 9.Power to amend Schedules.

Section 10.Provisions of this Act to override other laws.

Section 11.Power to remove difficulties.