Act Number: 30

Act Name: The Bilateral Netting of Qualified Financial Contracts Act, 2020

Year: 2020

Enactment Date: 2020-09-28

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.

Ministry: Ministry of Finance

Department: Department of Economic Affairs

Section 1: Short title and commencement.
    (1) This Act may be called the Bilateral Netting of Qualified Financial Contracts Act, 2020.
     (2) It shall come into force on such date1 as the Central Government may, by notification in the Official Gazette, appoint, and different dates may be appointed for different provisions of this Act.
Notes:
1. 1st October, 2020, vide notification No. S.O. 3463(E), dated 1st October, 2020 see Gazette of India, Extraordinary, Part II, sec. 3 (ii).
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