15 Limitation on Powers of a Liquidator

(1) Any powers of a liquidator to assume or repudiate individual qualified financial instruments, agreements, transactions, claims or obligations do not prevent the netting of:
(a) payment or delivery obligations or entitlements; and
(b) obligations or entitlements relating to the making of payments or deliveries;

under any qualified financial instrument or netting agreement.
(2) Those powers apply, if at all, only after the liquidator has given effect to the terms of any applicable netting agreement.
Derived (as from 19th October 2017).