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The Bilateral Netting of Qualified Financial Contracts Act, 2020

Central

An Act to ensure financial stability and promote competitiveness in Indian financial markets by providing enforceability of bilateral netting of qualified financial contracts and for matters connected therewith or incidental thereto.

Act number
30 of 2020
Ministry
Ministry of Finance
Department
Department of Economic Affairs
Enacted
28 Sep 2020

Source: IndiaCode Portal, Legislative Department, Ministry of Law and Justice, Government of India. Open on India Code Check against the official text before relying on it.

11 sections

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