Section 239AEI — Companies Act 1993: Calculation of netted balance

239AEI Calculation of netted balance If a company in administration is a party to a netting agreement,— (a) any netted balance payable by or to the company must be calculated in accordance with the netting agreement; and (b) that netted balance constitutes, in respect of the transactions that are included in the calculation,— (i) the debt that is owed to the creditor and that may be admitted under the deed of company arrangement; or (ii) the amount that is payable to the company,—

as the case may be. Section 239AEI: inserted, on 1 November 2007, by section 6 of the Companies Amendment Act 2006 (2006 No 56).