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Section 3 - Bilateral Netting of Qualified Financial Contracts Act, 2020

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.

Related Sections

Section 6: Invocation of close-out netting
Section 8: Limitations on powers of administration practitioner
Section 4: Powers of authority
Section 5: Enforceability of netting
Section 10: Provisions of this Act to override other laws

Related Acts

Punjab Municipal Corporation Law (Extension to Chandigarh) Amendment Act, 2017
Dam Safety Act, 2021
Aadhaar (Targeted Delivery of Financial and other Subsidies, Benefits and Services) Act, 2016
Tribunals Reforms Act, 2021
Central Goods and Services Tax Act, 2017

* Only for reference.