Section 347: Scope of Sub-Part II

347. Scope of Sub-Part II For the purposes of this Sub-part,— (a) a netting agreement shall be deemed to be a netting agreement notwithstanding the fact that it may contain provisions relating to agreements, contracts or transactions that are not qualified financial contracts; (b) a netting agreement shall be deemed to be a netting agreement only with respect to those agreements, contracts or transactions that fall within the meaning given to the term “qualified financial contract”; (c) a collateral arrangement shall be deemed to be a collateral arrangement notwithstanding the fact that it may contain provisions relating to agreements, contracts or transactions that are not a netting agreement or a qualified financial contract; (d) a collateral arrangement shall be deemed to be a collateral arrangement only with respect to those agreements, contracts or transactions that fall within the definition of “netting agreement” or “qualified financial contract” entered into under them; (e) a netting agreement and all qualified financial contracts entered into under the netting agreement shall constitute a single agreement; (f) a “netting agreement” shall include the term “multi-branch netting agreement”; and (g) in a separate insolvency of a branch or agency of a foreign party in Mauritius, the enforceability of the provisions of the multibranch netting agreement shall be determined in accordance with Sub-part III. I14 – 189 [Issue 3] Insolvency Act Sub-Part III – Multi-branch Netting Agreement