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 4Effects of moratorium
Effect on creditors etc
A20Restrictions on insolvency proceedings etc
1
During a moratorium—
a
no petition may be presented for the winding up of the company, except by the directors,
b
no resolution may be passed for the voluntary winding up of the company under section 84(1)(a),
c
a resolution for the voluntary winding up of the company under section 84(1)(b) may be passed only if the resolution is recommended by the directors,
d
no order may be made for the winding up of the company, except on a petition by the directors,
e
no administration application may be made in respect of the company, except by the directors,
f
no notice of intention to appoint an administrator of the company under paragraph 14 or 22(1) of Schedule B1 may be filed with the court,
g
no administrator of the company may be appointed under paragraph 14 or 22(1) of Schedule B1, and
h
no administrative receiver of the company may be appointed.
2
Subsection (1)(a) does not apply to an excepted petition; and subsection (1)(d) does not apply to an order on an excepted petition.
3
For these purposes, “excepted petition” means a petition under—
a
section 124A, 124B or 124C, or
b
section 367 of the Financial Services and Markets Act 2000 on the ground mentioned in subsection (3)(b) of that section.
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))