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The Corporate Insolvency and Governance Act 2020 (Coronavirus) (Amendment of Relevant Period for Meetings of Registered Societies and Credit Unions) Regulations (Northern Ireland) 2020

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EXPLANATORY NOTE

(This note is not part of the Order)

These Regulations amend the Corporate Insolvency and Governance Act 2020 (“the Act”) to extend the temporary arrangements for holding certain meetings of credit unions, co-operatives and community benefit societies.

The Act contains provisions which make temporary modifications to aspects of corporate insolvency and governance law to mitigate the effects of coronavirus. The Act provides for the relevant period during which the temporary arrangements for holding certain meetings to end on 30 September 2020.

Regulation 2 amends paragraph 2(1)(b) of Schedule 14 to the Act so that the relevant period during which the temporary arrangements for holding certain meetings is extended to end on 30 December 2020.

A full impact assessment has not been produced for this rule as no, or no significant impact upon the private, voluntary or public sector is foreseen. An Explanatory Memorandum has been published alongside this instrument at www.legislation.gov.uk.

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