SCHEDULES

SCHEDULE 8N.I.Moratoriums in Northern Ireland: temporary provision

Modifications etc. (not altering text)

PART 2N.I.Modifications to primary legislation

Relaxation of conditions for obtaining moratorium etcN.I.

[F16(1)For the purposes of obtaining a moratorium under Article 13B of the Insolvency (Northern Ireland) Order 1989 during the relevant period—N.I.

(a)Article 13B of that Order has effect as if paragraph (1)(a) were omitted;

(b)Article 13BC(1)(e) of that Order 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 Order 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 Article 13BA of the Insolvency (Northern Ireland) Order 1989.]

Textual Amendments

[F17N.I.In relation to an application for a moratorium made under Article 13BA or 13BB of the Insolvency (Northern Ireland) Order 1989 during the relevant period—

(a)Article 13BC(1)(e) of that Order 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 Order has effect as if paragraph 2(1)(b) and (2)(b) were omitted.]

Textual Amendments