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Corporate Insolvency and Governance Act 2020
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Restriction on winding-up petitions: registered companies
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2(1)A creditor may not during the relevant period present a petition under section 124 of the 1986 Act for the winding up of a registered company on a ground specified in section 123(1)(a) to (d) of that Act (“the relevant ground”), unless the condition in sub-paragraph (2) is met.
(2)The condition referred to in sub-paragraph (1) is that the creditor has reasonable grounds for believing that—
(a)coronavirus has not had a financial effect on the company, or
(b)the facts by reference to which the relevant ground applies would have arisen even if coronavirus had not had a financial effect on the company.
(3)A creditor may not during the relevant period present a petition under section 124 of the 1986 Act for the winding up of a registered company on the ground specified in section 123(1)(e) or (2) of that Act (“the relevant ground”), unless the condition in sub-paragraph (4) is met.
(4)The condition referred to in sub-paragraph (3) is that the creditor has reasonable grounds for believing that—
(a)coronavirus has not had a financial effect on the company, or
(b)the relevant ground would apply even if coronavirus had not had a financial effect on the company.
(5)This paragraph is to be regarded as having come into force on 27 April 2020.
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