The BILATERAL NETTING OF QUALIFIED FINANCIAL CONTRACTS ACT, 2020

PRELIMINARY

Section 1 — Short title and commencement.

(1) This Act may be called the Bilateral Netting of Qualified Financial Contracts Act, 2020.

(2) It shall come into force on such date as the Central Government may, by notification in the Official Gazette, appoint, and different dates may be appointed for different provisions of this Act.

Browse all 13 sections
  1. 1.Short title and commencement.
  2. 2.Definitions.
  3. 3.Applicability of Act.
  4. 4.Powers of authority.
  5. 5.Enforceability of netting.
  6. 6.Invocation of close-out netting.
  7. 7.Net amount.
  8. 8.Limitations on powers of administration practitioner.
  9. 9.Power to amend Schedules.
  10. 10.Provisions of this Act to override other laws.
  11. 11.Power to remove difficulties.
  12. SCH-THE FIRST SCHEDULE.THE FIRST SCHEDULE
  13. SCH-THE SECOND SCHEDULE.THE SECOND SCHEDULE