Netting Law DIFC Law No. 2 of 2014

PART 1 — GENERAL 

1. Title 

This Law may be cited as the "Netting Law 2014". 

2. Legislative Authority 

This Law is made by the Ruler of Dubai.

3. Date of enactment 

This Law is enacted on the date specified in the Enactment Notice in respect of this law.

4. Commencement 

This Law comes into force on the date specified in the Enactment Notice in respect of this Law.

5. Interpretation 

Schedule 1 contains interpretative provisions which apply to the Law and a list of defined terms used in the Law.

PART 2 — APPLICATION 

6. Application 

1. This Law applies to any qualified financial instrument, netting agreement or collateral arrangement (including any title transfer collateral arrangement) which is governed by DIFC law or which is entered into by a person incorporated or registered in the DIFC or organised under a DIFC law, irrespective of the date on which such qualified financial instrument, netting agreement or collateral arrangement was entered into. 
 
2. In case of a conflict between the provisions of this Law and the provisions of the Insolvency Law 2009 or the Insolvency Regulations (excluding Section 7 of the Insolvency Regulations),...