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Section 341: Limitation on right to receive payment or delivery

Insolvency Act · PART V: NETTING ARRANGEMENTS IN FINANCIAL CONTRACTS

consolidated text (as at 2017, amended since). juris shows the text as it was consolidated; it does not confirm that this is the law in force today.

341. Limitation on right to receive payment or delivery After the commencement of insolvency proceedings in relation to a party, the only right, if any, of either party to receive payment or delivery under a netting agreement shall be equal to its net entitlement with respect to the other party as determined in accordance with the terms of the applicable netting agreement.

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