Corporate Insolvency and Governance Act 2020 (c. 12)

SCHEDULES

SCHEDULE 3 U.K. Moratoriums in Great Britain: further amendments

Insolvency Act 1986 U.K.

7 (1) Section 7A (prosecution of delinquent officers of company) is amended as follows. U.K.

(2) For subsection (1) substitute—

“(1) This section applies where the approval of a voluntary arrangement in relation to a company has taken effect under section 4A.”

(3) In subsection (2)—

(a) for the words before paragraph (a) substitute “ If it appears to the supervisor that any past or present officer of the company has committed an offence in connection with the voluntary arrangement, the supervisor must forthwith ”;

(b) in paragraph (b), omit “nominee or”.

(4) In subsection (8), omit “nominee or”.