Section 101, The Banking Act, 2019

(1) In determining the rights and obligations between abank in receivership and its contractual counterparties, effect shall be given to the termination provisions of eligible contracts between the bank and its contractual counterparties. (2) The Central Bank may order a period of temporary stay on the exercise of the termination provisions of eligible contracts under subsection (1), subject to such safeguards as the Central Bank shall prescribe to facilitate liquidation of the bank while at the same time minimizing disruption to the markets for eligible financial contracts. (3) The net termination value determined in accordance with an eligible financial contract between a bank in receivership and its contractual counterparties shall be a claim of the bank on the counterparty or shall be admitted after its validation as a claim of the counterparty on the bank. (4) The Central Bank shall prescribe the types of contracts that shall qualify as "eligible financial contracts" under subsection (2) and which may include a master agreement covering more than one type of contract. (5) For the purposes of this Section- “net termination value" means the net amount obtained after setting off the mutual obligations between the parties to an eligible financial contract in accordance with its provisions.