Section 3. Applicability of Act

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Act: Bilateral Netting of Qualified Financial Contracts Act, 2020
Section number: 3

Section reader

Chapter II

Application of Act

3. Applicability of Act.-

The provisions of this Act shall apply to a qualified financial contract entered into on a bilateral basis between qualified financial market participants, either under a netting agreement or otherwise, where at least one of such participants shall be an entity regulated by an authority specified in the First Schedule.