SCHEDULES

SCHEDULE 4 U.K. Moratoriums in Great Britain: temporary provision

Modifications etc. (not altering text)

C1 Sch. 4 applied (with modifications) (26.6.2020) by The Limited Liability Partnerships (Amendment etc.) Regulations 2020 (S.I. 2020/643), regs. 1(1), 5

PART 2 E+W+S Modifications to primary legislation

Termination of moratorium obtained during relevant period E+W+S

10 E+W+S In relation to a moratorium that comes into force during the relevant period, section A38(1) of the Insolvency Act 1986 has effect as if for paragraph (a) there were substituted—

“(a) the monitor thinks—

(i) that the moratorium is not likely to result in the rescue of the company as a going concern, and

(ii) that, even if one were to disregard any worsening of the financial position of the company for reasons relating to coronavirus, the moratorium would not be likely to result in the rescue of the company as a going concern,”.