Restriction on winding-up petitions: unregistered companies
3(1)A creditor may not during the relevant period present a petition under section 124 of the 1986 Act for the winding up of an unregistered company on a ground specified in section 222, 223 or 224(1)(a) to (c) of that Act (“the relevant ground”), unless the condition in sub-paragraph (2) is met.
(2)The condition referred to in sub-paragraph (1) is that the creditor has reasonable grounds for believing that—
(a)coronavirus has not had a financial effect on the company, or
(b)the facts by reference to which the relevant ground applies would have arisen even if coronavirus had not had a financial effect on the company.
(3)A creditor may not during the relevant period present a petition under section 124 of the 1986 Act for the winding up of an unregistered company on the ground specified in section 224(1)(d) or (2) of that Act (“the relevant ground”), unless the condition in sub-paragraph (4) is met.
(4)The condition referred to in sub-paragraph (3) is that the creditor has reasonable grounds for believing that—
(a)coronavirus has not had a financial effect on the company, or
(b)the relevant ground would apply even if coronavirus had not had a financial effect on the company.
(5)This paragraph is to be regarded as having come into force on 27 April 2020.