ISDA derivatiViews: A Netting Milestone In China Date
04/05/2021
For the past 35 years, ISDA has consistently advocated for the enforceability of close-out netting as an indispensable foundation for safe and efficient derivatives markets. Every country that recognizes netting in its domestic legislation represents a positive step forward, but the draft legislation that has been tabled in China is a seminal milestone.
On April 29, the Standing Committee of the National People’s Congress of China published a draft Futures Law for public consultation. Among its provisions, the draft bill appears to explicitly recognize netting enforceability in over-the-counter (OTC) derivatives, which would enable counterparties to close out transactions and calculate a net amount payable in the event of a default. It also expressly states that close-out netting cannot be invalidated or revoked because a party has entered bankruptcy proceedings.
Crucial bills passed by the Parliament in 2020
India
Updated: Thursday, December 24, 2020, 13:07 [IST]
New Delhi, Dec 18: The coronavirus pandemic hit almost every aspect of our lives, except for the Parliament sessions. The Monsoon session, though cut short was a productive session for the governmentas all the 11 ordinances promulgated during last session have turned into new laws.
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During the short session, the productivity of the Lok Sabha was 167 per cent and Rajya Sabha 100.47 percent. Lok Sabha and Rajya Sabha individually passed 25 Bills each. 27 Bills were passed by both the Houses of Parliament which is best ever rate of passage of Bills per day - 2.7 Bills.