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 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.
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