C2C1C3F1Part A1Moratorium
Pt. A1 excluded by S.I. 2012/3013, Sch. 1 para. 1(2A) (as inserted (26.6.2020) by Corporate Insolvency and Governance Act 2020 (c. 12), s. 49(1), Sch. 3 para. 49(4) (with ss. 2(2), 5(2)))
Pt. A1 power to apply (with modifications) conferred by 2011 c. 25, s. 247A (as inserted (26.6.2020) by Corporate Insolvency and Governance Act 2020 (c. 12), s. 49(1), Sch. 3 para. 45 (with ss. 2(2), 5(2)))
Pt. A1 applied (with modifications) by S.I. 2014/229, art. 2(A1), Sch. 1 para. 1(2), Pt. 1A (as inserted (18.7.2020) by The Co-operative and Community Benefit Societies and Credit Unions (Arrangements, Reconstructions and Administration) (Amendment) and Consequential Amendments Order 2020 (S.I. 2020/744), arts. 1, 7(b), 11(b)(c))
Chapter 3Length of moratorium
Early termination on certain grounds
A16Company enters into insolvency procedure etc
1
A moratorium comes to an end at any time at which the company—
a
enters into a compromise or arrangement (see subsection (2)), or
b
enters into a relevant insolvency procedure (see subsection (3)).
2
For the purposes of this section a company enters into a compromise or arrangement if an order under section 899 or 901F of the Companies Act 2006 (court sanction for compromise or arrangement) comes into effect in relation to the company.
3
For the purposes of this section a company enters into a relevant insolvency procedure if—
a
a voluntary arrangement takes effect under section 5 in relation to the company,
b
the company enters administration (within the meaning of Schedule B1 (see paragraph 1(2)(b) of that Schedule)),
c
paragraph 44 of Schedule B1 (administration: interim moratorium) begins to apply in relation to the company, or
d
the company goes into liquidation (see section 247).
Pt. A1 inserted (26.6.2020) by Corporate Insolvency and Governance Act 2020 (c. 12), ss. 1(1), 49(1) (with ss. 2(2), 5(2))