Corporate Insolvency and Governance Act 2020 (c. 12)

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

C2 Sch. 4 applied (with modifications) (E.W.S.) by S.I. 2014/229, arts. 2(5), 11(6), Sch. 4 Pt. 4 (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(c), 10, 13(g))

C3 Sch. 4 applied (with modifications) (16.2.2021) by The Limited Liability Partnerships (Amendment etc.) Regulations 2021 (S.I. 2021/60), regs. 1(1), 6

PART 2 E+W+S Modifications to primary legislation

Modifications etc. (not altering text)

C4 Sch. 4 Pts. 1-3 applied in part (with modifications) (E.W.) by S.I. 2012/3013, Sch. 1 para. 1 (as modified (7.7.2020) by The Charitable Incorporated Organisations (Insolvency and Dissolution) (Amendment) Regulations 2020 (S.I. 2020/710), regs. 1, 5 (with reg. 6)); [Editorial note: The affecting legislation is revoked and this amendment is reversed (13.8.2020) by The Charitable Incorporated Organisations (Insolvency and Dissolution) (Amendment) (No. 2) Regulations 2020 (S.I. 2020/856), regs. 1(2), 2]

C5 Sch. 4 Pts. 1-3 applied in part (with modifications) (E.W.) by S.I. 2012/3013, Sch. 1 para. 1 (as modified (13.8.2020 immediately after the coming into force of S.I. 2020/856, reg. 2) by The Charitable Incorporated Organisations (Insolvency and Dissolution) (Amendment) (No. 2) Regulations 2020 (S.I. 2020/856), regs. 1(3), 6 (with reg. 7))

Relaxation of conditions for obtaining moratorium etc E+W+S

6 (1) For the purposes of obtaining a moratorium under section A3 of the Insolvency Act 1986 during the relevant period— E+W+S

(a) section A3 of that Act has effect as if subsection (1)(a) were omitted;

[F1 (b) section A6(1)(e) of that Act has effect as if at the end there were inserted “or would do so if it were not for any worsening of the financial position of the company for reasons relating to coronavirus”;]

(c) Schedule ZA1 to that Act has effect as if paragraph 2(1)(b) and (2)(b) were omitted.

(2) During the relevant period, only an overseas company may obtain a moratorium under section A4 of the Insolvency Act 1986.

Textual Amendments

F1 Sch. 4 para. 6(1)(b) ceases to have effect (1.10.2020) by virtue of The Corporate Insolvency and Governance Act 2020 (Coronavirus) (Early Termination of Certain Temporary Provisions) Regulations 2020 (S.I. 2020/1033), regs. 1, 2 (with reg. 3)

7 E+W+S In relation to an application for a moratorium made under section A4 or A5 of the Insolvency Act 1986 during the relevant period—

[F2 (a) section A6(1)(e) of that Act has effect as if at the end there were inserted “or would do so if it were not for any worsening of the financial position of the company for reasons relating to coronavirus”;]

(b) Schedule ZA1 to that Act has effect as if paragraph 2(1)(b) and (2)(b) were omitted.

Textual Amendments

F2 Sch. 4 para. 7(a) ceases to have effect (1.10.2020) by virtue of The Corporate Insolvency and Governance Act 2020 (Coronavirus) (Early Termination of Certain Temporary Provisions) Regulations 2020 (S.I. 2020/1033), regs. 1, 2 (with reg. 3)