Section 1 of Bilateral Netting of Qualified Financial Contracts Act, 2020: Short title, extent and commencement

The Bilateral Netting of Qualified Financial Contracts Act, 2020
[No. 30 of 2020]
[28th September, 2020]

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.
BE it enacted by Parliament in the Seventy-first Year of the Republic of India as follows:—

Chapter-I Preliminary

Section 1: Short title, extent and commencement.

1. (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.


 


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