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Insolvency Act 1986

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Changes over time for: Section A10

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Point in time view as at 01/12/2020.

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Insolvency Act 1986, Section A10 is up to date with all changes known to be in force on or before 06 March 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations. Help about Changes to Legislation

[F1A10Extension by directors without creditor consentU.K.

(1)During the initial period, but after the first 15 business days of that period, the directors may extend the moratorium by filing with the court—

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

(b)a statement from the directors that all of the following that have fallen due have been paid or otherwise discharged—

(i)moratorium debts, and

(ii)pre-moratorium debts for which the company does not have a payment holiday during the moratorium (see section A18),

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

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

(2)The rules may make provision about the date on which a statement mentioned in subsection (1) must be made.

(3)On the filing with the court of the documents mentioned in subsection (1), the moratorium is extended so that it ends at the end of the period—

(a)beginning immediately after the initial period ends, and

(b)ending with the 20th business day after the initial period ends.]

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