Section 310F — Companies Act 1993: Application of set-off under section 310 to transactions subject to netting agreements

310F Application of set-off under section 310 to transactions subject to netting agreements (1) Section 310 does not apply to transactions that are subject to a netting agreement to which sections 310A to 310O apply. (2) However, a netted balance is to be treated as an amount to which section 310(1) applies if the company that is in liquidation and the other party to the netting agreement also have mutual credits, mutual debts, or other mutual dealings between them that are not subject to the netting agreement. Sections 310A to 310O were inserted, as from 26 April 1999, by section 15 Companies Amendment Act 1999 (1999 No 19).