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<h1>Securities law allows netting of payment obligations between clearing members through offsetting inter-se claims from transactions</h1> The Securities Contracts Regulation defines netting as the clearing corporation's determination of net payment or delivery obligations among clearing members through setting off inter-se obligations from securities transactions. This includes claims arising from insolvency, winding-up, or liquidation circumstances, ensuring only net claims are demanded. A tax tribunal case established that netting principles apply to business income computation, where interest income connected to business must be excluded from profits only after allowing related expenditures as deductions, maintaining the nexus between receipts and associated costs.
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