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 11: Power to remove difficulties.
    (1) If any difficulty arises in giving effect to the provisions of this Act, the Central Government may, by order, published in the Official Gazette, make such provisions not inconsistent with the provisions of this Act as may appear to it to be necessary or expedient for removing the difficulty:
     Provided that no order shall be made after the expiry of a period of three years from the date of commencement of this Act.
     (2) Every order made under this section shall be laid, as soon as may be after it is made, before each House of Parliament.
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