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Insolvency Act 1986

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[F1A6The relevant documentsU.K.

(1)For the purposes of this Chapter, “the relevant documents” are—

(a)a notice that the directors wish to obtain a moratorium,

(b)a statement from a qualified person (“the proposed monitor”) that the person—

(i)is a qualified person, and

(ii)consents to act as the monitor in relation to the proposed moratorium,

(c)a statement from the proposed monitor that the company is an eligible company,

(d)a statement from the directors that, in their view, the company is, or is likely to become, unable to pay its debts, and

(e)a statement from the proposed monitor that, in the proposed monitor’s view, it is likely that a moratorium for the company would result in the rescue of the company as a going concern.

(2)Where it is proposed that more than one person should act as the monitor in relation to the proposed moratorium—

(a)each of them must make a statement under subsection (1)(b), (c) and (e), and

(b)the statement under subsection (1)(b) must specify—

(i)which functions (if any) are to be exercised by the persons acting jointly, and

(ii)which functions (if any) are to be exercised by any or all of the persons.

(3)The rules may make provision about the date on which a statement comprised in the relevant documents must be made.

(4)The Secretary of State may by regulations amend this section for the purposes of adding to the list of documents in subsection (1).

(5)Regulations under subsection (4) are subject to the affirmative resolution procedure.]

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