Section 32, Bilateral Netting Qualified Financial Contracts Act, 2020 [S29-W2E]

As at 7 September 2026. In force from 16 March 2020.

In Bilateral Netting Qualified Financial Contracts Act, 2020 [A11-Q77]. This text from 16 March 2020. No other text held.

Synthetic. The words of this section are generated by the register; the title, number and year of the Act are real.

Cite: Section 32, Bilateral Netting Qualified Financial Contracts Act, 2020 [S29-W2E]. Machine: S29-W2E.

32. Cognizance of offences.—(1) No court shall take cognizance of any offence punishable under this Act except upon a complaint in writing made by the Reserve Bank or by an officer authorised by it in this behalf. (2) No court inferior to that of a Metropolitan Magistrate or a Judicial Magistrate of the first class shall try any offence punishable under this Act.

Defined terms in this text (1)

Reserve Bank: Section 2, Bilateral Netting Qualified Financial Contracts Act, 2020 [S29V4Y] (In this Act, unless the context otherwise requires,—): "Reserve Bank" means the Reserve Bank of India constituted under section 3 of the Reserve Bank of India Act, 1934 (2 of 1934)

Reserve Bank: 24 more definitions.

Made under this section, or naming it (0)

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