The Bilateral Netting of Qualified Financial Contracts Act, 2020
Central Act · Act 30 of 202011 provisions
The enactment
| Long title | 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. |
|---|---|
| Type | Act |
| Citation | Act 30 of 2020 |
| Year | 2020 |
| Jurisdiction | Central |
| Ministry | Ministry of Finance |
| Status | In force as published by the source |
| Provisions published | 11 |
| Subjects | financial |
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- Section 1 Short title and commencement.
- Section 2 Definitions.
- Section 3 Applicability of Act.
- Section 4 Powers of authority.
- Section 5 Enforceability of netting.
- Section 6 Invocation of close-out netting.
- Section 7 Net amount.
- Section 8 Limitations on powers of administration practitioner.
- Section 9 Power to amend Schedules.
- Section 10 Provisions of this Act to override other laws.
- Section 11 Power to remove difficulties.
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