6. Application of these Regulations

(1) These Regulations apply to any Qualified Financial Instrument, Netting Agreement or Collateral Arrangement that is governed by the Acting Law of the AIFC or that is entered into by a Person incorporated or registered in the AIFC or organised under the Acting Law of the AIFC, irrespective of when Qualified Financial Instrument, Netting Agreement or Collateral Arrangement was entered into.

(2) If a provision of these Regulations is inconsistent with a provision of the AIFC Insolvency Regulations or AIFC Insolvency Rules, the provision of these Regulations prevails to the extent of the inconsistency.

(3) However, a provision must not be treated as inconsistent with another provision merely because the provisions deal with the same matter if each provision can be obeyed without contravening the other.