Section 239AEN — Companies Act 1993: Rights under netting agreement not affected by commencement of administration

239AEN Rights under netting agreement not affected by commencement of administration Nothing in section 239Z affects, in respect of a company in administration, the exercise of any of the following rights under a netting agreement: (a) the termination, in accordance with the netting agreement, of all or any transactions that are subject to the netting agreement by reason of the occurrence of an event specified in the netting agreement, being an event (including the appointment of an administrator) occurring not later than the commencement of the administration; or (b) the taking of an account, in accordance with the netting agreement, of all money due between the parties to the netting agreement in respect of transactions affected by the termination. Section 239AEN: inserted, on 1 November 2007, by section 6 of the Companies Amendment Act 2006 (2006 No 56).