Section 310G — Companies Act 1993: Transactions under netting agreement and effect on certain sections

310G Transactions under netting agreement and effect on certain sections (1) Nothing in sections 310A to 310O prevents the operation of section 56 or section 292 or section 297 or section 298 in respect of a transaction that is subject to a netting agreement. (2) However, nothing in section 292(3) applies to a transaction that is subject to a netting agreement. (3) For the purposes of sections 292 and 297 , the term transaction , in relation to a company, does not include a netting agreement entered into by the company, except to the extent that the effect of entering into the netting agreement is to reduce any amount that was owing by or to the company at the time the company entered into the agreement. Sections 310A to 310O were inserted, as from 26 April 1999, by section 15 Companies Amendment Act 1999 (1999 No 19).