Textual Amendments
F1Pt. 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))
Modifications etc. (not altering text)
C1Pt. 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)))
C2Pt. 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)))
C3Pt. 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))
C4Pt. A1 applied (with modifications) (E.W.S.) (3.9.2020) by The Insolvency (Moratorium) (Special Administration for Energy Licensees) Regulations 2020 (S.I. 2020/943), regs. 1(2), 2-10
(1)For the purposes of this Chapter, “the relevant documents” are—
(a)a notice that the directors wish to obtain a moratorium,
(b)a statement from a qualified person (“the proposed monitor”) that the person—
(i)is a qualified person, and
(ii)consents to act as the monitor in relation to the proposed moratorium,
(c)a statement from the proposed monitor that the company is an eligible company,
(d)a statement from the directors that, in their view, the company is, or is likely to become, unable to pay its debts, and
(e)a statement from the proposed monitor that, in the proposed monitor’s view, it is likely that a moratorium for the company would result in the rescue of the company as a going concern.
(2)Where it is proposed that more than one person should act as the monitor in relation to the proposed moratorium—
(a)each of them must make a statement under subsection (1)(b), (c) and (e), and
(b)the statement under subsection (1)(b) must specify—
(i)which functions (if any) are to be exercised by the persons acting jointly, and
(ii)which functions (if any) are to be exercised by any or all of the persons.
(3)The rules may make provision about the date on which a statement comprised in the relevant documents must be made.
(4)The Secretary of State may by regulations amend this section for the purposes of adding to the list of documents in subsection (1).
(5)Regulations under subsection (4) are subject to the affirmative resolution procedure.]
Modifications etc. (not altering text)
C5S. A6(1)(e) modified (temp.) (26.6.2020) by Corporate Insolvency and Governance Act 2020 (c. 12), s. 49(1), Sch. 4 para. 6(1)(b) (with ss. 2(2), 5(2), Sch. 4 para. 1)
C6S. A6(1)(e) modified (temp.) (26.6.2020) by Corporate Insolvency and Governance Act 2020 (c. 12), s. 49(1), Sch. 4 para. 7(a) (with ss. 2(2), 5(2), Sch. 4 para. 1)