Section 343: Limitation of insolvency law prohibiting set-off
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.
343. Limitation of insolvency law prohibiting set-off
The provisions of a netting agreement which provide for the determination
of a net balance of the close-out values, market values, liquidation values or
replacement values calculated in respect of accelerated and/or terminated
payment or delivery obligations or entitlements under one or more qualified
financial contracts entered into will not be affected by section 309 or any
other applicable laws limiting the exercise of rights to set off, offset or net
out obligations, payment amounts or termination values owed between an
insolvent party and another party.