Corporate Insolvency and Governance Act 2020
<hcontainer xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:default="http://www.w3.org/1999/xhtml" xmlns:fo="http://www.w3.org/1999/XSL/Format" name="crossheading" ukl:Name="Pblock" eId="crossheading-moratorium"><heading><i>Moratorium</i></heading><section eId="section-1"><num>1</num><heading>Moratoriums in Great Britain</heading><subsection eId="section-1-1"><num>(1)</num><content><p><mod>In the Insolvency Act 1986, before Part 1 (but within the First Group of Parts) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="unknown" uk:docName="unknown" ukl:TargetClass="unknown" ukl:TargetSubClass="unknown" ukl:Context="unknown" ukl:Format="default"><part><num><b>PART A1</b></num><heading>Moratorium</heading><chapter><num>CHAPTER 1</num><heading>Introductory</heading><section><num>A1</num><heading>Overview</heading><subsection><num>(1)</num><content><p>This Part contains provision that enables an eligible company, in certain circumstances, to obtain a moratorium, giving it various protections from creditors set out in this Part.</p></content></subsection><subsection><num>(2)</num><content><p>In this Chapter section A2 introduces Schedule ZA1 (which defines what is meant by an eligible company).</p></content></subsection><subsection><num>(3)</num><content><p>Chapter 2 sets out how an eligible company may obtain a moratorium.</p></content></subsection><subsection><num>(4)</num><content><p>Chapter 3 sets out for how long a moratorium has effect.</p></content></subsection><subsection><num>(5)</num><content><p>Chapter 4 sets out the effects of a moratorium on the company and its creditors.</p></content></subsection><subsection><num>(6)</num><content><p>Chapter 5 contains provision about the monitor.</p></content></subsection><subsection><num>(7)</num><content><p>Chapter 6 contains provision about challenges.</p></content></subsection><subsection><num>(8)</num><content><p>Chapter 7 contains provision about certain offences.</p></content></subsection><subsection><num>(9)</num><intro><p>Chapter 8 contains miscellaneous and general provision, including—</p></intro><level class="para1"><num>(a)</num><content><p>special provision for certain kinds of company;</p></content></level><level class="para1"><num>(b)</num><content><p>definitions for the purposes of this Part;</p></content></level><level class="para1"><num>(c)</num><content><p>provision about regulations under this Part.</p></content></level></subsection></section><section><num>A2</num><heading>Eligible companies</heading><content><p>Schedule ZA1 contains provision for determining whether a company is an eligible company for the purposes of this Part.</p></content></section></chapter><chapter><num>CHAPTER 2</num><heading>Obtaining a moratorium</heading><section><num>A3</num><heading>Obtaining a moratorium by filing or lodging documents at court</heading><subsection><num>(1)</num><intro><p>This section applies to an eligible company that—</p></intro><level class="para1"><num>(a)</num><content><p>is not subject to an outstanding winding-up petition, and</p></content></level><level class="para1"><num>(b)</num><content><p>is not an overseas company.</p></content></level></subsection><subsection><num>(2)</num><content><p>The directors of the company may obtain a moratorium for the company by filing the relevant documents with the court (for the relevant documents, see section A6).</p></content></subsection><subsection><num>(3)</num><intro><p>For the purposes of this Chapter a company is subject to an outstanding winding-up petition if—</p></intro><level class="para1"><num>(a)</num><content><p>a petition for the winding up of the company has been presented, and</p></content></level><level class="para1"><num>(b)</num><content><p>the petition has not been withdrawn or determined.</p></content></level></subsection></section><section><num>A4</num><heading>Obtaining a moratorium for company subject to winding-up petition</heading><subsection><num>(1)</num><content><p>This section applies to an eligible company that is subject to an outstanding winding-up petition.</p></content></subsection><subsection><num>(2)</num><content><p>The directors of the company may apply to the court for a moratorium for the company.</p></content></subsection><subsection><num>(3)</num><content><p>The application must be accompanied by the relevant documents (for the relevant documents, see section A6).</p></content></subsection><subsection><num>(4)</num><intro><p>On hearing the application the court may—</p></intro><level class="para1"><num>(a)</num><content><p>make an order that the company should be subject to a moratorium, or</p></content></level><level class="para1"><num>(b)</num><content><p>make any other order which the court thinks appropriate.</p></content></level></subsection><subsection><num>(5)</num><content><p>The court may make an order under subsection (4)(a) only if it is satisfied that a moratorium for the company would achieve a better result for the company's creditors as a whole than would be likely if the company were wound up (without first being subject to a moratorium).</p></content></subsection></section><section><num>A5</num><heading>Obtaining a moratorium for other overseas companies</heading><subsection><num>(1)</num><intro><p>This section applies to an eligible company that—</p></intro><level class="para1"><num>(a)</num><content><p>is not subject to an outstanding winding-up petition, and</p></content></level><level class="para1"><num>(b)</num><content><p>is an overseas company.</p></content></level></subsection><subsection><num>(2)</num><content><p>The directors of the company may apply to the court for a moratorium for the company.</p></content></subsection><subsection><num>(3)</num><content><p>The application must be accompanied by the relevant documents (for the relevant documents, see section A6).</p></content></subsection><subsection><num>(4)</num><intro><p>On hearing the application the court may—</p></intro><level class="para1"><num>(a)</num><content><p>make an order that the company should be subject to a moratorium, or</p></content></level><level class="para1"><num>(b)</num><content><p>make any other order which the court thinks appropriate.</p></content></level></subsection></section><section><num>A6</num><heading>The relevant documents</heading><subsection><num>(1)</num><intro><p>For the purposes of this Chapter, the relevant documents are—</p></intro><level class="para1"><num>(a)</num><content><p>a notice that the directors wish to obtain a moratorium,</p></content></level><level class="para1"><num>(b)</num><intro><p>a statement from a qualified person (the proposed monitor) that the person—</p></intro><level class="para2"><num>(i)</num><content><p>is a qualified person, and</p></content></level><level class="para2"><num>(ii)</num><content><p>consents to act as the monitor in relation to the proposed moratorium,</p></content></level></level><level class="para1"><num>(c)</num><content><p>a statement from the proposed monitor that the company is an eligible company,</p></content></level><level class="para1"><num>(d)</num><content><p>a statement from the directors that, in their view, the company is, or is likely to become, unable to pay its debts, and</p></content></level><level class="para1"><num>(e)</num><content><p>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.</p></content></level></subsection><subsection><num>(2)</num><intro><p>Where it is proposed that more than one person should act as the monitor in relation to the proposed moratorium—</p></intro><level class="para1"><num>(a)</num><content><p>each of them must make a statement under subsection (1)(b), (c) and (e), and</p></content></level><level class="para1"><num>(b)</num><intro><p>the statement under subsection (1)(b) must specify—</p></intro><level class="para2"><num>(i)</num><content><p>which functions (if any) are to be exercised by the persons acting jointly, and</p></content></level><level class="para2"><num>(ii)</num><content><p>which functions (if any) are to be exercised by any or all of the persons.</p></content></level></level></subsection><subsection><num>(3)</num><content><p>The rules may make provision about the date on which a statement comprised in the relevant documents must be made.</p></content></subsection><subsection><num>(4)</num><content><p>The Secretary of State may by regulations amend this section for the purposes of adding to the list of documents in subsection (1).</p></content></subsection><subsection><num>(5)</num><content><p>Regulations under subsection (4) are subject to the affirmative resolution procedure.</p></content></subsection></section><section><num>A7</num><heading>Beginning of moratorium and appointment of monitor</heading><subsection><num>(1)</num><intro><p>A moratorium for a company comes into force at the time at which—</p></intro><level class="para1"><num>(a)</num><content><p>in the case of a company to which section A3 applies, the relevant documents are filed with the court under subsection (2) of that section;</p></content></level><level class="para1"><num>(b)</num><content><p>in the case of a company to which section A4 applies, an order is made under section A4(4)(a);</p></content></level><level class="para1"><num>(c)</num><content><p>in the case of a company to which section A5 applies, an order is made under section A5(4)(a).</p></content></level></subsection><subsection><num>(2)</num><content><p>On the coming into force of a moratorium, the person or persons who made the statement mentioned in section A6(1)(b) become the monitor in relation to the moratorium.</p></content></subsection></section><section><num>A8</num><heading>Obligations to notify where moratorium comes into force</heading><subsection><num>(1)</num><content><p>As soon as reasonably practicable after a moratorium for a company comes into force, the directors must notify the monitor of that fact.</p></content></subsection><subsection><num>(2)</num><intro><p>As soon as reasonably practicable after receiving a notice under subsection (1), the monitor must notify the following that a moratorium for the company has come into force—</p></intro><level class="para1"><num>(a)</num><content><p>the registrar of companies,</p></content></level><level class="para1"><num>(b)</num><content><p>every creditor of the company of whose claim the monitor is aware,</p></content></level><level class="para1"><num>(c)</num><content><p>in a case where the company is or has been an employer in respect of an occupational pension scheme that is not a money purchase scheme, the Pensions Regulator, and</p></content></level><level class="para1"><num>(d)</num><content><p>in a case where the company is an employer in respect of such a pension scheme that is an eligible scheme within the meaning given by section 126 of the Pensions Act 2004, the Board of the Pension Protection Fund.</p></content></level></subsection><subsection><num>(3)</num><intro><p>A notice under subsection (2) must specify—</p></intro><level class="para1"><num>(a)</num><content><p>when the moratorium came into force, and</p></content></level><level class="para1"><num>(b)</num><content><p>when, subject to any alteration under or by virtue of any of the provisions mentioned in section A9(3) or (4), the moratorium will come to an end.</p></content></level></subsection><subsection><num>(4)</num><content><p>If the directors fail to comply with subsection (1), any director who did not have a reasonable excuse for the failure commits an offence.</p></content></subsection><subsection><num>(5)</num><content><p>If the monitor without reasonable excuse fails to comply with subsection (2), the monitor commits an offence.</p></content></subsection></section></chapter><chapter><num>CHAPTER 3</num><heading>Length of moratorium</heading><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Initial period</i></heading><section><num>A9</num><heading>End of the moratorium</heading><subsection><num>(1)</num><content><p>A moratorium ends at the end of the initial period unless it is extended, or comes to an end sooner, under or by virtue of a provision mentioned in subsection (3) or (4).</p></content></subsection><subsection><num>(2)</num><content><p>In this Chapter the initial period, in relation to a moratorium, means the period of 20 business days beginning with the business day after the day on which the moratorium comes into force.</p></content></subsection><subsection><num>(3)</num><content><p>For provision under or by virtue of which a moratorium is or may be extended, see—</p><blockList class="unordered none" ukl:Name="UnorderedList" ukl:Decoration="none"><item><p>section A10 (extension by directors without creditor consent);</p></item><item><p>section A11 (extension by directors with creditor consent);</p></item><item><p>section A13 (extension by court on application of directors);</p></item><item><p>section A14 (extension while proposal for CVA pending);</p></item><item><p>section A15 (extension by court in course of other proceedings).</p></item></blockList></content></subsection><subsection><num>(4)</num><content><p>For provision under or by virtue of which the moratorium is or may be terminated, see—</p><blockList class="unordered none" ukl:Name="UnorderedList" ukl:Decoration="none"><item><p>section A16 (termination on entry into insolvency procedure etc);</p></item><item><p>section A38 (termination by monitor);</p></item><item><p>section A42 or A44 (termination by court).</p></item></blockList></content></subsection><subsection><num>(5)</num><content><p>A moratorium may not be extended under a provision mentioned in subsection (3) once it has come to an end.</p></content></subsection><subsection><num>(6)</num><content><p>Where the application of two or more of the provisions mentioned in subsections (3) and (4) would produce a different length of moratorium, the provision that applies last is to prevail (irrespective of whether that results in a shorter or longer moratorium).</p></content></subsection></section></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Extension of moratorium</i></heading><section><num>A10</num><heading>Extension by directors without creditor consent</heading><subsection><num>(1)</num><intro><p>During the initial period, but after the first 15 business days of that period, the directors may extend the moratorium by filing with the court—</p></intro><level class="para1"><num>(a)</num><content><p>a notice that the directors wish to extend the moratorium,</p></content></level><level class="para1"><num>(b)</num><intro><p>a statement from the directors that all of the following that have fallen due have been paid or otherwise discharged—</p></intro><level class="para2"><num>(i)</num><content><p>moratorium debts, and</p></content></level><level class="para2"><num>(ii)</num><content><p>pre-moratorium debts for which the company does not have a payment holiday during the moratorium (see section A18),</p></content></level></level><level class="para1"><num>(c)</num><content><p>a statement from the directors that, in their view, the company is, or is likely to become, unable to pay its pre-moratorium debts, and</p></content></level><level class="para1"><num>(d)</num><content><p>a statement from the monitor that, in the monitor's view, it is likely that the moratorium will result in the rescue of the company as a going concern.</p></content></level></subsection><subsection><num>(2)</num><content><p>The rules may make provision about the date on which a statement mentioned in subsection (1) must be made.</p></content></subsection><subsection><num>(3)</num><intro><p>On the filing with the court of the documents mentioned in subsection (1), the moratorium is extended so that it ends at the end of the period—</p></intro><level class="para1"><num>(a)</num><content><p>beginning immediately after the initial period ends, and</p></content></level><level class="para1"><num>(b)</num><content><p>ending with the 20th business day after the initial period ends.</p></content></level></subsection></section><section><num>A11</num><heading>Extension by directors with creditor consent</heading><subsection><num>(1)</num><intro><p>At any time after the first 15 business days of the initial period the directors may, if they have obtained creditor consent, extend the moratorium by filing with the court—</p></intro><level class="para1"><num>(a)</num><content><p>a notice that the directors wish to extend the moratorium,</p></content></level><level class="para1"><num>(b)</num><intro><p>a statement from the directors that all of the following that have fallen due have been paid or otherwise discharged—</p></intro><level class="para2"><num>(i)</num><content><p>moratorium debts, and</p></content></level><level class="para2"><num>(ii)</num><content><p>pre-moratorium debts for which the company does not have a payment holiday during the moratorium (see section A18),</p></content></level></level><level class="para1"><num>(c)</num><content><p>a statement from the directors that, in their view, the company is, or is likely to become, unable to pay its pre-moratorium debts,</p></content></level><level class="para1"><num>(d)</num><content><p>a statement from the monitor that, in the monitor's view, it is likely that the moratorium will result in the rescue of the company as a going concern, and</p></content></level><level class="para1"><num>(e)</num><content><p>a statement from the directors that creditor consent has been obtained, and of the revised end date for which that consent was obtained.</p></content></level></subsection><subsection><num>(2)</num><content><p>The rules may make provision about the date on which a statement mentioned in subsection (1) must be made.</p></content></subsection><subsection><num>(3)</num><content><p>On the filing with the court of the documents mentioned in subsection (1), the moratorium is extended so that it ends with the revised end date mentioned in the statement under subsection (1)(e).</p></content></subsection><subsection><num>(4)</num><content><p>A moratorium may be extended under this section more than once.</p></content></subsection></section><section><num>A12</num><heading>Creditor consent for the purposes of section A11</heading><subsection><num>(1)</num><content><p>References in section A11 to creditor consent are to the consent of pre-moratorium creditors to a revised end date for the moratorium.</p></content></subsection><subsection><num>(2)</num><content><p>The decision as to consent is to be made using a qualifying decision procedure.</p></content></subsection><subsection><num>(3)</num><content><p>The revised end date must be a date before the end of the period of one year beginning with the first day of the initial period.</p></content></subsection><subsection><num>(4)</num><intro><p>In this section pre-moratorium creditor means a creditor in respect of a pre-moratorium debt—</p></intro><level class="para1"><num>(a)</num><content><p>for which the company has a payment holiday during the moratorium (see section A18), and</p></content></level><level class="para1"><num>(b)</num><content><p>which has not been paid or otherwise discharged.</p></content></level></subsection><subsection><num>(5)</num><content><p>In determining for the purposes of subsection (4) what counts as a pre-moratorium debt for which the company has a payment holiday during the moratorium, sections A18(3) and A53(1)(b) apply as if the references to the moratorium were to the moratorium as proposed to be extended.</p></content></subsection><subsection><num>(6)</num><content><p>The Secretary of State may by regulations amend this section for the purposes of changing the definition of pre-moratorium creditor.</p></content></subsection><subsection><num>(7)</num><content><p>Regulations under subsection (6) are subject to the affirmative resolution procedure.</p></content></subsection></section><section><num>A13</num><heading>Extension by court on application of directors</heading><subsection><num>(1)</num><content><p>At any time after the first 15 business days of the initial period, the directors may apply to the court for an order that the moratorium be extended.</p></content></subsection><subsection><num>(2)</num><intro><p>The application must be accompanied by—</p></intro><level class="para1"><num>(a)</num><intro><p>a statement from the directors that all of the following that have fallen due have been paid or otherwise discharged—</p></intro><level class="para2"><num>(i)</num><content><p>moratorium debts, and</p></content></level><level class="para2"><num>(ii)</num><content><p>pre-moratorium debts for which the company does not have a payment holiday during the moratorium (see section A18),</p></content></level></level><level class="para1"><num>(b)</num><content><p>a statement from the directors that, in their view, the company is, or is likely to become, unable to pay its pre-moratorium debts,</p></content></level><level class="para1"><num>(c)</num><content><p>a statement from the directors as to whether pre-moratorium creditors (as defined by section A12(4) and (5)) have been consulted about the application and if not why not, and</p></content></level><level class="para1"><num>(d)</num><content><p>a statement from the monitor that, in the monitor's view, it is likely that the moratorium will result in the rescue of the company as a going concern.</p></content></level></subsection><subsection><num>(3)</num><content><p>The rules may make provision about the date on which a statement mentioned in subsection (2) must be made.</p></content></subsection><subsection><num>(4)</num><intro><p>On hearing the application the court may—</p></intro><level class="para1"><num>(a)</num><content><p>make an order that the moratorium be extended to such date as is specified in the order, or</p></content></level><level class="para1"><num>(b)</num><content><p>make any other order which the court thinks appropriate.</p></content></level></subsection><subsection><num>(5)</num><intro><p>In deciding whether to make an order under subsection (4)(a) the court must, in particular, consider the following—</p></intro><level class="para1"><num>(a)</num><content><p>the interests of pre-moratorium creditors, as defined by section A12(4) and (5), and</p></content></level><level class="para1"><num>(b)</num><content><p>the likelihood that the extension of the moratorium will result in the rescue of the company as a going concern.</p></content></level></subsection><subsection><num>(6)</num><intro><p>Subsection (7) applies where—</p></intro><level class="para1"><num>(a)</num><content><p>an application under this section is made, and</p></content></level><level class="para1"><num>(b)</num><content><p>apart from that subsection, the moratorium would end at a time before the application has been disposed of.</p></content></level></subsection><subsection><num>(7)</num><intro><p>The moratorium—</p></intro><level class="para1"><num>(a)</num><content><p>does not end at the time mentioned in subsection (6)(b), and</p></content></level><level class="para1"><num>(b)</num><intro><p>instead, ends—</p></intro><level class="para2"><num>(i)</num><content><p>in a case in which the court makes an order under subsection (4)(a), in accordance with the order;</p></content></level><level class="para2"><num>(ii)</num><content><p>otherwise, when the application is withdrawn or disposed of.</p></content></level></level></subsection><subsection><num>(8)</num><content><p>A moratorium may be extended under this section more than once.</p></content></subsection></section><section><num>A14</num><heading>Extension while proposal for CVA pending</heading><subsection><num>(1)</num><intro><p>Subsection (2) applies where—</p></intro><level class="para1"><num>(a)</num><content><p>at any time, the directors make a proposal under Part 1 (company voluntary arrangements), and</p></content></level><level class="para1"><num>(b)</num><content><p>apart from that subsection, the moratorium would end at a time before the proposal is disposed of.</p></content></level></subsection><subsection><num>(2)</num><intro><p>The moratorium—</p></intro><level class="para1"><num>(a)</num><content><p>does not end at the time mentioned in subsection (1)(b), and</p></content></level><level class="para1"><num>(b)</num><content><p>instead, ends when the proposal is disposed of.</p></content></level></subsection><subsection><num>(3)</num><intro><p>For the purposes of this section a proposal under Part 1 is disposed of when any of the following takes place—</p></intro><level class="para1"><num>(a)</num><content><p>the company and its creditors both decide under section 4 not to approve the voluntary arrangement contained in the proposal;</p></content></level><level class="para1"><num>(b)</num><intro><p>the decisions taken by the company and its creditors under section 4 differ, and—</p></intro><level class="para2"><num>(i)</num><content><p>the period for making an application under section 4A(3) expires and either no application has been made within that period or any application made within that period has been withdrawn, or</p></content></level><level class="para2"><num>(ii)</num><content><p>an application is made under section 4A(3) and that application is disposed of, or it is withdrawn after the expiry of the period for making an application under section 4A(3);</p></content></level></level><level class="para1"><num>(c)</num><content><p>the voluntary arrangement contained in the proposal takes effect under section 5;</p></content></level><level class="para1"><num>(d)</num><content><p>the proposal is withdrawn.</p></content></level></subsection></section><section><num>A15</num><heading>Extension by court in the course of other proceedings</heading><subsection><num>(1)</num><intro><p>Subsection (2) applies where—</p></intro><level class="para1"><num>(a)</num><content><p>an application is made under section 896 or 901C(1) of the Companies Act 2006 (arrangements and reconstructions: court order for holding of meeting) in respect of a company, and</p></content></level><level class="para1"><num>(b)</num><content><p>during proceedings before a court in connection with the application, a moratorium for the company is in force.</p></content></level></subsection><subsection><num>(2)</num><content><p>The court may make an order that the moratorium be extended to such date as is specified in the order.</p></content></subsection></section></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Early termination on certain grounds</i></heading><section><num>A16</num><heading>Company enters into insolvency procedure etc</heading><subsection><num>(1)</num><intro><p>A moratorium comes to an end at any time at which the company—</p></intro><level class="para1"><num>(a)</num><content><p>enters into a compromise or arrangement (see subsection (2)), or</p></content></level><level class="para1"><num>(b)</num><content><p>enters into a relevant insolvency procedure (see subsection (3)).</p></content></level></subsection><subsection><num>(2)</num><content><p>For the purposes of this section a company enters into a compromise or arrangement if an order under section 899 or 901F of the Companies Act 2006 (court sanction for compromise or arrangement) comes into effect in relation to the company.</p></content></subsection><subsection><num>(3)</num><intro><p>For the purposes of this section a company enters into a relevant insolvency procedure if—</p></intro><level class="para1"><num>(a)</num><content><p>a voluntary arrangement takes effect under section 5 in relation to the company,</p></content></level><level class="para1"><num>(b)</num><content><p>the company enters administration (within the meaning of Schedule B1 (see paragraph 1(2)(b) of that Schedule)),</p></content></level><level class="para1"><num>(c)</num><content><p>paragraph 44 of Schedule B1 (administration: interim moratorium) begins to apply in relation to the company, or</p></content></level><level class="para1"><num>(d)</num><content><p>the company goes into liquidation (see section 247).</p></content></level></subsection></section></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Obligations to notify change in end of moratorium</i></heading><section><num>A17</num><heading>Obligations to notify change in end of moratorium</heading><subsection><num>(1)</num><content><p>The table imposes obligations on the directors of a company to notify the monitor where a moratorium for the company is extended or comes to an end.</p><tblock class="table" ukl:Orientation="portrait"><foreign><default:table xmlns="http://www.w3.org/1999/xhtml"><default:colgroup><default:col style="width:7%"/><default:col style="width:37%"/><default:col style="width:56%"/></default:colgroup><default:tbody><default:tr><default:th/><default:th><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0"><i>Where a moratorium is extended or comes to an end under or by virtue of the following provision</i></p></default:th><default:th><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0"><i>the directors must </i></p></default:th></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Section A10</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Notify the monitor of the extension.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Section A11</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Notify the monitor of the extension and of the revised end date.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">3</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Section A13(4)</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Notify the monitor of the extension and provide the monitor with the court order under section A13(4).</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">4</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Section A13(7)(a)</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Notify the monitor of the extension.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">5</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Section A13(7)(b)(ii)</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Notify the monitor that the moratorium has come to an end and of the date that it ended.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">6</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Section A14(2)(a)</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Notify the monitor of the extension.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">7</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Section A14(2)(b)</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Notify the monitor that the moratorium has come to an end and of the date that it ended.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">8</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Section A15</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Notify the monitor of the extension and provide the monitor with any court order under section A15.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">9</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Section A16</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Notify the monitor that the moratorium has come to an end.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">10</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Section A42</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Notify the monitor that the moratorium has come to an end and provide the monitor with the court order under section A42.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">11</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Section A44</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Notify the monitor that the moratorium has come to an end and provide the monitor with the court order under section A44.</p></default:td></default:tr></default:tbody></default:table></foreign></tblock></content></subsection><subsection><num>(2)</num><content><p>After receiving a notice under subsection (1), other than a notice under entry 4 or 6 of the table, the monitor must notify the relevant persons of when the moratorium ended or, subject to any alteration under or by virtue of any of the provisions mentioned in section A9(3) or (4), the moratorium will come to an end.</p></content></subsection><subsection><num>(3)</num><content><p>After receiving a notice under entry 4 or 6 of the table, the monitor must notify the relevant persons.</p></content></subsection><subsection><num>(4)</num><content><p>If a moratorium comes to an end under section A38 (termination by monitor), the monitor must notify the company and the relevant persons of when the moratorium ended.</p></content></subsection><subsection><num>(5)</num><intro><p>The rules may—</p></intro><level class="para1"><num>(a)</num><content><p>make further provision about the timing of a notice required to be given under this section;</p></content></level><level class="para1"><num>(b)</num><content><p>require a notice to be accompanied by other documents.</p></content></level></subsection><subsection><num>(6)</num><content><p>If the directors fail to comply with subsection (1), any director who did not have a reasonable excuse for the failure commits an offence.</p></content></subsection><subsection><num>(7)</num><content><p>If the monitor without reasonable excuse fails to comply with any of subsections (2) to (4), the monitor commits an offence.</p></content></subsection><subsection><num>(8)</num><intro><p>In this section the relevant persons means—</p></intro><level class="para1"><num>(a)</num><content><p>the registrar of companies,</p></content></level><level class="para1"><num>(b)</num><content><p>every creditor of the company of whose claim the monitor is aware,</p></content></level><level class="para1"><num>(c)</num><content><p>in a case where the company is or has been an employer in respect of an occupational pension scheme that is not a money purchase scheme, the Pensions Regulator, and</p></content></level><level class="para1"><num>(d)</num><content><p>in a case where the company is an employer in respect of such a pension scheme that is an eligible scheme within the meaning given by section 126 of the Pensions Act 2004, the Board of the Pension Protection Fund.</p></content></level></subsection></section></hcontainer></chapter><chapter><num>CHAPTER 4</num><heading>Effects of moratorium</heading><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Introductory</i></heading><section><num>A18</num><heading>Overview and construction of references to payment holidays</heading><subsection><num>(1)</num><content><p>This Chapter makes provision about the main effects of a moratorium for a company.</p></content></subsection><subsection><num>(2)</num><content><p>The provision made by this Chapter includes restrictions on the enforcement or payment of the debts that are defined by subsection (3) as pre-moratorium debts for which a company has a payment holiday during a moratorium.</p></content></subsection><subsection><num>(3)</num><intro><p>In this Part a reference to pre-moratorium debts for which a company has a payment holiday during a moratorium is to its pre-moratorium debts that have fallen due before the moratorium, or that fall due during the moratorium, except in so far as they consist of amounts payable in respect of—</p></intro><level class="para1"><num>(a)</num><content><p>the monitor's remuneration or expenses,</p></content></level><level class="para1"><num>(b)</num><content><p>goods or services supplied during the moratorium,</p></content></level><level class="para1"><num>(c)</num><content><p>rent in respect of a period during the moratorium,</p></content></level><level class="para1"><num>(d)</num><content><p>wages or salary arising under a contract of employment,</p></content></level><level class="para1"><num>(e)</num><content><p>redundancy payments, or</p></content></level><level class="para1"><num>(f)</num><content><p>debts or other liabilities arising under a contract or other instrument involving financial services.</p></content></level></subsection><subsection><num>(4)</num><content><p>The rules may make provision as to what is, or is not, to count as the supply of goods or services for the purposes of subsection (3)(b).</p></content></subsection><subsection><num>(5)</num><content><p>The Secretary of State may by regulations amend this section for the purposes of changing the list in subsection (3).</p></content></subsection><subsection><num>(6)</num><content><p>Regulations under subsection (5) are subject to the affirmative resolution procedure.</p></content></subsection><subsection><num>(7)</num><intro><p>In this section—</p></intro><hcontainer name="definition"><content><p>contract or other instrument involving financial services has the meaning given by Schedule ZA2;</p></content></hcontainer><hcontainer name="definition"><content><p>monitor's remuneration or expenses does not include remuneration in respect of anything done by a proposed monitor before the moratorium begins;</p></content></hcontainer><hcontainer name="definition"><intro><p>redundancy payment means—</p></intro><level class="para1"><num>(a)</num><content><p>a redundancy payment under Part 11 of the Employment Rights Act 1996 or Part 12 of the Employment Rights (Northern Ireland) Order 1996, or</p></content></level><level class="para1"><num>(b)</num><content><p>a payment made to a person who agrees to the termination of their employment in circumstances where they would have been entitled to a redundancy payment under that Part if dismissed;</p></content></level></hcontainer><hcontainer name="definition"><intro><p>wages or salary includes—</p></intro><level class="para1"><num>(a)</num><content><p>a sum payable in respect of a period of holiday (for which purpose the sum is to be treated as relating to the period by reference to which the entitlement to holiday accrued),</p></content></level><level class="para1"><num>(b)</num><content><p>a sum payable in respect of a period of absence through illness or other good cause,</p></content></level><level class="para1"><num>(c)</num><content><p>a sum payable in lieu of holiday, and</p></content></level><level class="para1"><num>(d)</num><content><p>a contribution to an occupational pension scheme.</p></content></level></hcontainer></subsection></section></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Publicity about moratorium</i></heading><section><num>A19</num><heading>Publicity about moratorium</heading><subsection><num>(1)</num><intro><p>During a moratorium, the company must, in any premises—</p></intro><level class="para1"><num>(a)</num><content><p>where business of the company is carried on, and</p></content></level><level class="para1"><num>(b)</num><content><p>to which customers of the company or suppliers of goods or services to the company have access,</p></content></level><wrapUp><p>display, in a prominent position so that it may easily be read by such customers or suppliers, a notice containing the required information.</p></wrapUp></subsection><subsection><num>(2)</num><content><p>During a moratorium, any websites of the company must state the required information.</p></content></subsection><subsection><num>(3)</num><content><p>During a moratorium, every business document issued by or on behalf of the company must state the required information.</p></content></subsection><subsection><num>(4)</num><content><p>For the purposes of subsections (1), (2) and (3), the required information is—</p></content></subsection><level class="para1"><num>(a)</num><content><p>that a moratorium is in force in relation to the company, and</p></content></level><level class="para1"><num>(b)</num><content><p>the name of the monitor.</p></content></level><subsection><num>(5)</num><intro><p>If subsection (1), (2) or (3) is contravened—</p></intro><level class="para1"><num>(a)</num><content><p>the company commits an offence, and</p></content></level><level class="para1"><num>(b)</num><content><p>any officer of the company who without reasonable excuse authorised or permitted the contravention commits an offence.</p></content></level></subsection><subsection><num>(6)</num><intro><p>In this section business document means—</p></intro><level class="para1"><num>(a)</num><content><p>an invoice,</p></content></level><level class="para1"><num>(b)</num><content><p>an order for goods or services,</p></content></level><level class="para1"><num>(c)</num><content><p>a business letter, and</p></content></level><level class="para1"><num>(d)</num><content><p>an order form,</p></content></level><wrapUp><p>whether in hard copy, electronic or any other form.</p></wrapUp></subsection></section></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Effect on creditors etc</i></heading><section><num>A20</num><heading>Restrictions on insolvency proceedings etc</heading><subsection><num>(1)</num><intro><p>During a moratorium—</p></intro><level class="para1"><num>(a)</num><content><p>no petition may be presented for the winding up of the company, except by the directors,</p></content></level><level class="para1"><num>(b)</num><content><p>no resolution may be passed for the voluntary winding up of the company under section 84(1)(a),</p></content></level><level class="para1"><num>(c)</num><content><p>a resolution for the voluntary winding up of the company under section 84(1)(b) may be passed only if the resolution is recommended by the directors,</p></content></level><level class="para1"><num>(d)</num><content><p>no order may be made for the winding up of the company, except on a petition by the directors,</p></content></level><level class="para1"><num>(e)</num><content><p>no administration application may be made in respect of the company, except by the directors,</p></content></level><level class="para1"><num>(f)</num><content><p>no notice of intention to appoint an administrator of the company under paragraph 14 or 22(1) of Schedule B1 may be filed with the court,</p></content></level><level class="para1"><num>(g)</num><content><p>no administrator of the company may be appointed under paragraph 14 or 22(1) of Schedule B1, and</p></content></level><level class="para1"><num>(h)</num><content><p>no administrative receiver of the company may be appointed.</p></content></level></subsection><subsection><num>(2)</num><content><p>Subsection (1)(a) does not apply to an excepted petition; and subsection (1)(d) does not apply to an order on an excepted petition.</p></content></subsection><subsection><num>(3)</num><intro><p>For these purposes, excepted petition means a petition under—</p></intro><level class="para1"><num>(a)</num><content><p>section 124A, 124B or 124C, or</p></content></level><level class="para1"><num>(b)</num><content><p>section 367 of the Financial Services and Markets Act 2000 on the ground mentioned in subsection (3)(b) of that section.</p></content></level></subsection></section><section><num>A21</num><heading>Restrictions on enforcement and legal proceedings</heading><subsection><num>(1)</num><intro><p>During a moratorium—</p></intro><level class="para1"><num>(a)</num><content><p>a landlord or other person to whom rent is payable may not exercise a right of forfeiture by peaceable re-entry in relation to premises let to the company, except with the permission of the court,</p></content></level><level class="para1"><num>(b)</num><content><p>in Scotland, a landlord or other person to whom rent is payable may not exercise a right of irritancy in relation to premises let to the company, except with the permission of the court,</p></content></level><level class="para1"><num>(c)</num><intro><p>no steps may be taken to enforce any security over the company's property except—</p></intro><level class="para2"><num>(i)</num><content><p>steps to enforce a collateral security charge (within the meaning of the Financial Markets and Insolvency (Settlement Finality) Regulations 1999 (S.I. 1999/2979)),</p></content></level><level class="para2"><num>(ii)</num><content><p>steps to enforce security created or otherwise arising under a financial collateral arrangement (within the meaning of regulation 3 of the Financial Collateral Arrangements (No. 2) Regulations 2003 (S.I. 2003/3226)), or</p></content></level><level class="para2"><num>(iii)</num><content><p>steps taken with the permission of the court,</p></content></level></level><level class="para1"><num>(d)</num><content><p>no steps may be taken to repossess goods in the company's possession under any hire-purchase agreement, except with the permission of the court, and</p></content></level><level class="para1"><num>(e)</num><intro><p>no legal process (including legal proceedings, execution, distress or diligence) may be instituted, carried out or continued against the company or its property except—</p></intro><level class="para2"><num>(i)</num><content><p>employment tribunal proceedings or any legal process arising out of such proceedings,</p></content></level><level class="para2"><num>(ii)</num><content><p>proceedings, not within sub-paragraph (i), involving a claim between an employer and a worker, or</p></content></level><level class="para2"><num>(iii)</num><content><p>a legal process instituted, carried out or continued with the permission of the court.</p></content></level></level></subsection><subsection><num>(2)</num><content><p>An application may not be made for permission under subsection (1) for the purposes of enforcing a pre-moratorium debt for which the company has a payment holiday during the moratorium.</p></content></subsection><subsection><num>(3)</num><intro><p>An application may not be made for permission under subsection (1)(c), (d) or (e) with a view to obtaining—</p></intro><level class="para1"><num>(a)</num><content><p>the crystallisation of a floating charge, or</p></content></level><level class="para1"><num>(b)</num><content><p>the imposition, by virtue of provision in an instrument creating a floating charge, of any restriction on the disposal of any property of the company.</p></content></level></subsection><subsection><num>(4)</num><content><p>Permission of the court under subsection (1) may be given subject to conditions.</p></content></subsection><subsection><num>(5)</num><content><p>Subsection (1)(c)(iii) is subject to section A23(1).</p></content></subsection><subsection><num>(6)</num><intro><p>In this section—</p></intro><hcontainer name="definition"><content><p>agency worker has the meaning given by section 13(2) of the Employment Relations Act 1999;</p></content></hcontainer><hcontainer name="definition"><intro><p>employer—</p></intro><level class="para1"><num>(a)</num><content><p>in relation to an agency worker, has the meaning given by section 13(2) of the Employment Relations Act 1999;</p></content></level><level class="para1"><num>(b)</num><content><p>otherwise, has the meaning given by section 230(4) of the Employment Rights Act 1996;</p></content></level></hcontainer><hcontainer name="definition"><intro><p>worker means an individual who is—</p></intro><level class="para1"><num>(a)</num><content><p>a worker within the meaning of section 230(3) of the Employment Rights Act 1996, or</p></content></level><level class="para1"><num>(b)</num><content><p>an agency worker.</p></content></level></hcontainer></subsection></section><section><num>A22</num><heading>Floating charges</heading><subsection><num>(1)</num><content><p>This section applies where there is an uncrystallised floating charge on the property of a company for which a moratorium is in force.</p></content></subsection><subsection><num>(2)</num><intro><p>During the moratorium, the holder of the floating charge may not give any notice which would have the effect of—</p></intro><level class="para1"><num>(a)</num><content><p>causing the floating charge to crystallise, or</p></content></level><level class="para1"><num>(b)</num><content><p>causing the imposition, by virtue of provision in the instrument creating the charge, of any restriction on the disposal of property of the company.</p></content></level></subsection><subsection><num>(3)</num><content><p>No other event occurring during the moratorium is to have the effect mentioned in subsection (2)(a) or (b).</p></content></subsection><subsection><num>(4)</num><intro><p>Subsection (5) applies where—</p></intro><level class="para1"><num>(a)</num><content><p>the holder of a floating charge (the chargee) is prevented by subsection (2) from giving a notice mentioned there during the moratorium, and</p></content></level><level class="para1"><num>(b)</num><content><p>under the terms of the floating charge, the time for giving such a notice ends during the moratorium or before the chargee is given notice of the end of the moratorium under section A17.</p></content></level></subsection><subsection><num>(5)</num><intro><p>The chargee may give notice later than is required under the terms of the floating charge, but only if the chargee does so as soon as is practicable after—</p></intro><level class="para1"><num>(a)</num><content><p>the end of the moratorium, or</p></content></level><level class="para1"><num>(b)</num><content><p>if later, the day on which the chargee is notified of the end of the moratorium.</p></content></level></subsection><subsection><num>(6)</num><intro><p>Where—</p></intro><level class="para1"><num>(a)</num><content><p>subsection (3) prevents an event which occurs during the moratorium from having the effect mentioned there, and</p></content></level><level class="para1"><num>(b)</num><intro><p>the holder of the floating charge gives notice of the event to the company as soon as is practicable after—</p></intro><level class="para2"><num>(i)</num><content><p>the end of the moratorium, or</p></content></level><level class="para2"><num>(ii)</num><content><p>if later, the day on which the chargee is notified of the end of the moratorium,</p></content></level></level><wrapUp><p>the event is to be treated as if it had occurred when the notice was given.</p></wrapUp></subsection><subsection><num>(7)</num><intro><p>This section does not apply in relation to a floating charge that is—</p></intro><level class="para1"><num>(a)</num><content><p>a collateral security (as defined by section A27);</p></content></level><level class="para1"><num>(b)</num><content><p>a market charge (as defined by section A27);</p></content></level><level class="para1"><num>(c)</num><content><p>a security financial collateral arrangement (within the meaning of regulation 3 of the Financial Collateral Arrangements (No. 2) Regulations 2003 (S.I. 2003/3226));</p></content></level><level class="para1"><num>(d)</num><content><p>a system-charge (as defined by section A27).</p></content></level></subsection></section><section><num>A23</num><heading>Enforcement of security granted during moratorium</heading><subsection><num>(1)</num><content><p>Security granted by a company during a moratorium in relation to the company may be enforced only if the monitor consented to the grant of security under section A26.</p></content></subsection><subsection><num>(2)</num><content><p>See also section A21(1)(c), which restricts enforcement during a moratorium.</p></content></subsection></section></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Notification of insolvency proceedings</i></heading><section><num>A24</num><heading>Duty of directors to notify monitor of insolvency proceedings etc</heading><subsection><num>(1)</num><intro><p>The directors of a company must notify the monitor before taking any of the following steps during a moratorium—</p></intro><level class="para1"><num>(a)</num><content><p>presenting a petition for the winding up of the company;</p></content></level><level class="para1"><num>(b)</num><content><p>making an administration application in respect of the company;</p></content></level><level class="para1"><num>(c)</num><content><p>appointing an administrator under paragraph 22(2) of Schedule B1.</p></content></level></subsection><subsection><num>(2)</num><content><p>The directors of a company must notify the monitor if, during a moratorium for the company, they recommend that the company passes a resolution for voluntary winding up under section 84(1)(b).</p></content></subsection><subsection><num>(3)</num><content><p>The rules may make provision about the timing of a notice required to be given under subsection (1) or (2).</p></content></subsection><subsection><num>(4)</num><content><p>If the directors fail to comply with subsection (1) or (2), any director who did not have a reasonable excuse for the failure commits an offence.</p></content></subsection></section></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Restrictions on transactions</i></heading><section><num>A25</num><heading>Restrictions on obtaining credit</heading><subsection><num>(1)</num><content><p>During a moratorium, the company may not obtain credit to the extent of £500 or more from a person unless the person has been informed that a moratorium is in force in relation to the company.</p></content></subsection><subsection><num>(2)</num><intro><p>The reference to the company obtaining credit includes—</p></intro><level class="para1"><num>(a)</num><content><p>the company entering into a conditional sale agreement in accordance with which goods are to be sold to the company,</p></content></level><level class="para1"><num>(b)</num><content><p>the company entering into any other form of hire-purchase agreement under which goods are to be bailed (in Scotland, hired) to the company, and</p></content></level><level class="para1"><num>(c)</num><content><p>the company being paid in advance (whether in money or otherwise) for the supply of goods or services.</p></content></level></subsection><subsection><num>(3)</num><intro><p>If a company contravenes subsection (1)—</p></intro><level class="para1"><num>(a)</num><content><p>the company commits an offence, and</p></content></level><level class="para1"><num>(b)</num><content><p>any officer of the company who without reasonable excuse authorised or permitted the obtaining of the credit commits an offence.</p></content></level></subsection></section><section><num>A26</num><heading>Restrictions on grant of security etc</heading><subsection><num>(1)</num><content><p>During a moratorium, the company may grant security over its property only if the monitor consents.</p></content></subsection><subsection><num>(2)</num><content><p>The monitor may give consent under subsection (1) only if the monitor thinks that the grant of security will support the rescue of the company as a going concern.</p></content></subsection><subsection><num>(3)</num><content><p>In deciding whether to give consent under subsection (1), the monitor is entitled to rely on information provided by the company unless the monitor has reason to doubt its accuracy.</p></content></subsection><subsection><num>(4)</num><intro><p>If the company grants security over its property during the moratorium otherwise than as authorised by subsection (1)—</p></intro><level class="para1"><num>(a)</num><content><p>the company commits an offence, and</p></content></level><level class="para1"><num>(b)</num><content><p>any officer of the company who without reasonable excuse authorised or permitted the grant of the security commits an offence.</p></content></level></subsection><subsection><num>(5)</num><content><p>For the consequences of a company granting security over its property in contravention of subsection (1), see also section A23.</p></content></subsection><subsection><num>(6)</num><content><p>The monitor may not give consent under this section if the granting of security is an offence under section A27.</p></content></subsection></section><section><num>A27</num><heading>Prohibition on entering into market contracts etc</heading><subsection><num>(1)</num><intro><p>If a company enters into a transaction to which this section applies during a moratorium for the company—</p></intro><level class="para1"><num>(a)</num><content><p>the company commits an offence, and</p></content></level><level class="para1"><num>(b)</num><content><p>any officer of the company who without reasonable excuse authorised or permitted the company to enter into the transaction commits an offence.</p></content></level></subsection><subsection><num>(2)</num><intro><p>A company enters into a transaction to which this section applies if it—</p></intro><level class="para1"><num>(a)</num><content><p>enters into a market contract,</p></content></level><level class="para1"><num>(b)</num><content><p>enters into a financial collateral arrangement,</p></content></level><level class="para1"><num>(c)</num><content><p>gives a transfer order,</p></content></level><level class="para1"><num>(d)</num><content><p>grants a market charge or a system-charge, or</p></content></level><level class="para1"><num>(e)</num><content><p>provides any collateral security.</p></content></level></subsection><subsection><num>(3)</num><content><p>Where during the moratorium a company enters into a transaction to which this section applies, nothing done by or in pursuance of the transaction is to be treated as done in contravention of any of sections A19, A21, A25, A26 and A28 to A32.</p></content></subsection><subsection><num>(4)</num><intro><p>In this section—</p></intro><hcontainer name="definition"><content><p>collateral security has the same meaning as in the Financial Markets and Insolvency (Settlement Finality) Regulations 1999 (S.I. 1999/2979);</p></content></hcontainer><hcontainer name="definition"><content><p>financial collateral arrangement has the same meaning as in the Financial Collateral Arrangements (No. 2) Regulations 2003 (S.I. 2003/3226);</p></content></hcontainer><hcontainer name="definition"><content><p>market charge has the same meaning as in Part 7 of the Companies Act 1989;</p></content></hcontainer><hcontainer name="definition"><content><p>market contract has the same meaning as in Part 7 of the Companies Act 1989;</p></content></hcontainer><hcontainer name="definition"><content><p>system-charge has the meaning given by the Financial Markets and Insolvency Regulations 1996 (S.I. 1996/1469);</p></content></hcontainer><hcontainer name="definition"><content><p>transfer order has the same meaning as in the Financial Markets and Insolvency (Settlement Finality) Regulations 1999.</p></content></hcontainer></subsection></section></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Restrictions on payments and disposal of property</i></heading><section><num>A28</num><heading>Restrictions on payment of certain pre-moratorium debts</heading><subsection><num>(1)</num><intro><p>During a moratorium, the company may make one or more relevant payments to a person that (in total) exceed the specified maximum amount only if—</p></intro><level class="para1"><num>(a)</num><content><p>the monitor consents,</p></content></level><level class="para1"><num>(b)</num><content><p>the payment is in pursuance of a court order, or</p></content></level><level class="para1"><num>(c)</num><content><p>the payment is required by section A31(3) or A32(3).</p></content></level></subsection><subsection><num>(2)</num><intro><p>In subsection (1)—</p></intro><hcontainer name="definition"><content><p>relevant payments means payments in respect of pre-moratorium debts for which the company has a payment holiday during the moratorium (see section A18);</p></content></hcontainer><hcontainer name="definition"><intro><p>specified maximum amount means an amount equal to the greater of—</p></intro><level class="para1"><num>(a)</num><content><p>£5000, and</p></content></level><level class="para1"><num>(b)</num><content><p>1% of the value of the debts and other liabilities owed by the company to its unsecured creditors when the moratorium began, to the extent that the amount of such debts and liabilities can be ascertained at that time.</p></content></level></hcontainer></subsection><subsection><num>(3)</num><content><p>The monitor may give consent under subsection (1)(a) only if the monitor thinks that it will support the rescue of the company as a going concern.</p></content></subsection><subsection><num>(4)</num><content><p>In deciding whether to give consent under subsection (1)(a), the monitor is entitled to rely on information provided by the company unless the monitor has reason to doubt its accuracy.</p></content></subsection><subsection><num>(5)</num><intro><p>If the company makes a payment to which subsection (1) applies otherwise than as authorised by that subsection—</p></intro><level class="para1"><num>(a)</num><content><p>the company commits an offence, and</p></content></level><level class="para1"><num>(b)</num><content><p>any officer of the company who without reasonable excuse authorised or permitted the payment commits an offence.</p></content></level></subsection></section><section><num>A29</num><heading>Restrictions on disposal of property</heading><subsection><num>(1)</num><content><p>During a moratorium, the company may dispose of its property only if authorised by subsection (2) or (5).</p></content></subsection><subsection><num>(2)</num><intro><p>In the case of property that is not subject to a security interest, the company may dispose of the property if—</p></intro><level class="para1"><num>(a)</num><content><p>the disposal is made in the ordinary way of the company's business,</p></content></level><level class="para1"><num>(b)</num><content><p>the monitor consents, or</p></content></level><level class="para1"><num>(c)</num><content><p>the disposal is in pursuance of a court order.</p></content></level></subsection><subsection><num>(3)</num><content><p>The monitor may give consent under subsection (2)(b) only if the monitor thinks that it will support the rescue of the company as a going concern.</p></content></subsection><subsection><num>(4)</num><content><p>In deciding whether to give consent under subsection (2)(b), the monitor is entitled to rely on information provided by the company unless the monitor has reason to doubt its accuracy.</p></content></subsection><subsection><num>(5)</num><intro><p>In the case of property that is subject to a security interest, the company may dispose of the property if the disposal is in accordance with—</p></intro><level class="para1"><num>(a)</num><content><p>section A31(1), or</p></content></level><level class="para1"><num>(b)</num><content><p>the terms of the security.</p></content></level></subsection><subsection><num>(6)</num><intro><p>If the company disposes of its property during the moratorium otherwise than as authorised by this section—</p></intro><level class="para1"><num>(a)</num><content><p>the company commits an offence, and</p></content></level><level class="para1"><num>(b)</num><content><p>any officer of the company who without reasonable excuse authorised or permitted the disposal commits an offence.</p></content></level></subsection></section><section><num>A30</num><heading>Restrictions on disposal of hire-purchase property</heading><subsection><num>(1)</num><intro><p>During a moratorium, the company may dispose of any goods in the possession of the company under a hire-purchase agreement only if the disposal is in accordance with —</p></intro><level class="para1"><num>(a)</num><content><p>section A32(1), or</p></content></level><level class="para1"><num>(b)</num><content><p>the terms of the agreement.</p></content></level></subsection><subsection><num>(2)</num><intro><p>If the company disposes of goods in the possession of the company under a hire-purchase agreement otherwise than as authorised by subsection (1)—</p></intro><level class="para1"><num>(a)</num><content><p>the company commits an offence, and</p></content></level><level class="para1"><num>(b)</num><content><p>any officer of the company who without reasonable excuse authorised or permitted the disposal commits an offence.</p></content></level></subsection></section></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Disposals of property free from charges etc</i></heading><section><num>A31</num><heading>Disposal of charged property free from charge</heading><subsection><num>(1)</num><content><p>During a moratorium, the company may, with the permission of the court, dispose of property which is subject to a security interest as if it were not subject to the security interest.</p></content></subsection><subsection><num>(2)</num><content><p>The court may give permission under subsection (1) only if the court thinks that it will support the rescue of the company as a going concern.</p></content></subsection><subsection><num>(3)</num><intro><p>Where the court gives permission under subsection (1) other than in relation to a floating charge, the company must apply the following towards discharging the sums secured—</p></intro><level class="para1"><num>(a)</num><content><p>the net proceeds of disposal of the property, and</p></content></level><level class="para1"><num>(b)</num><content><p>any money required to be added to the net proceeds so as to produce the amount determined by the court as the net amount which would be realised on a sale of the property in the open market by a willing vendor.</p></content></level></subsection><subsection><num>(4)</num><content><p>Where the permission relates to two or more security interests, the condition in subsection (3) requires the application of money in the order of the priorities of the security interests.</p></content></subsection><subsection><num>(5)</num><content><p>Where property subject to a floating charge is disposed of under subsection (1), the holder of the floating charge has the same priority in respect of acquired property as they had in respect of the property disposed of.</p></content></subsection><subsection><num>(6)</num><content><p>In subsection (5)
acquired property means property of the company which directly or indirectly represents the property disposed of.</p></content></subsection><subsection><num>(7)</num><content><p>Where the court makes an order giving permission under subsection (1), the directors must, within the period of 14 days beginning with the date of the order, send a copy of it to the registrar of companies.</p></content></subsection><subsection><num>(8)</num><content><p>If the directors fail to comply with subsection (7), any director who did not have a reasonable excuse for the failure commits an offence.</p></content></subsection><subsection><num>(9)</num><intro><p>Where property in Scotland is disposed of under subsection (1), the company must grant to the disponee an appropriate document of transfer or conveyance of the property, and—</p></intro><level class="para1"><num>(a)</num><content><p>that document, or</p></content></level><level class="para1"><num>(b)</num><content><p>recording, intimation or registration of that document (where recording, intimation or registration of the document is a legal requirement for completion of title to the property),</p></content></level><wrapUp><p>has the effect of disencumbering the property of or, as the case may be, freeing the property from, the security interest.</p></wrapUp></subsection><subsection><num>(10)</num><intro><p>If a company fails to comply with subsection (3) or (9)—</p></intro><level class="para1"><num>(a)</num><content><p>the company commits an offence, and</p></content></level><level class="para1"><num>(b)</num><content><p>any officer of the company who without reasonable excuse authorised or permitted the failure commits an offence.</p></content></level></subsection><subsection><num>(11)</num><content><p>Subsection (1) does not apply in relation to any property which is subject to a financial collateral arrangement, a market charge, a system-charge or a collateral security (as defined by section A27).</p></content></subsection></section><section><num>A32</num><heading>Disposal of hire-purchase property</heading><subsection><num>(1)</num><content><p>During a moratorium, the company may, with the permission of the court, dispose of goods which are in the possession of the company under a hire-purchase agreement as if all of the rights of the owner under the agreement were vested in the company.</p></content></subsection><subsection><num>(2)</num><content><p>The court may give permission under subsection (1) only if the court thinks that it will support the rescue of the company as a going concern.</p></content></subsection><subsection><num>(3)</num><intro><p>Where the court gives permission under subsection (1), the company must apply the following towards discharging the sums payable under the hire-purchase agreement—</p></intro><level class="para1"><num>(a)</num><content><p>the net proceeds of disposal of the goods, and</p></content></level><level class="para1"><num>(b)</num><content><p>any additional money required to be added to the net proceeds so as to produce the amount determined by the court as the net amount which would be realised on a sale of the goods in the open market by a willing vendor.</p></content></level></subsection><subsection><num>(4)</num><intro><p>If a company fails to comply with subsection (3)—</p></intro><level class="para1"><num>(a)</num><content><p>the company commits an offence, and</p></content></level><level class="para1"><num>(b)</num><content><p>any officer of the company who without reasonable excuse authorised or permitted the failure commits an offence.</p></content></level></subsection><subsection><num>(5)</num><content><p>Where the court makes an order giving permission under subsection (1), the directors must, within the period of 14 days beginning with the date of the order, send a copy of it to the registrar of companies.</p></content></subsection><subsection><num>(6)</num><content><p>If the directors fail to comply with subsection (5), any director who did not have a reasonable excuse for the failure commits an offence.</p></content></subsection><subsection><num>(7)</num><content><p>In Scotland, where goods in the possession of the company under a hire-purchase agreement are disposed of under subsection (1), the disposal has the effect of extinguishing, as against the disponee, all rights of the owner of the goods under the agreement.</p></content></subsection></section></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Effect of contravention of certain provisions of Chapter</i></heading><section><num>A33</num><heading>Contravention of certain requirements imposed under this Chapter</heading><intro><p>The fact that a company contravenes section A19 or any of sections A25 to A32 does not—</p></intro><level class="para1"><num>(a)</num><content><p>make any transaction void or unenforceable, or</p></content></level><level class="para1"><num>(b)</num><content><p>affect the validity of any other thing.</p></content></level></section></hcontainer></chapter><chapter><num>CHAPTER 5</num><heading>The monitor</heading><section><num>A34</num><heading>Status of monitor</heading><content><p>The monitor in relation to a moratorium is an officer of the court.</p></content></section><section><num>A35</num><heading>Monitoring</heading><subsection><num>(1)</num><content><p>During a moratorium, the monitor must monitor the company's affairs for the purpose of forming a view as to whether it remains likely that the moratorium will result in the rescue of the company as a going concern.</p></content></subsection><subsection><num>(2)</num><content><p>In forming the view mentioned in subsection (1), the monitor is entitled to rely on information provided by the company, unless the monitor has reason to doubt its accuracy.</p></content></subsection></section><section><num>A36</num><heading>Provision of information to monitor</heading><subsection><num>(1)</num><content><p>The monitor may require the directors of the company to provide any information required by the monitor for the purpose of carrying out the monitor's functions.</p></content></subsection><subsection><num>(2)</num><content><p>The directors must comply with a requirement to provide information as soon as practicable.</p></content></subsection><subsection><num>(3)</num><content><p>For the potential consequences of failing to comply with a requirement to provide information, see section A38.</p></content></subsection></section><section><num>A37</num><heading>Application by monitor for directions</heading><content><p>The monitor in relation to a moratorium may apply to the court for directions about the carrying out of the monitor's functions.</p></content></section><section><num>A38</num><heading>Termination of moratorium by monitor</heading><subsection><num>(1)</num><intro><p>The monitor must bring a moratorium to an end by filing a notice with the court if—</p></intro><level class="para1"><num>(a)</num><content><p>the monitor thinks that the moratorium is no longer likely to result in the rescue of the company as a going concern,</p></content></level><level class="para1"><num>(b)</num><content><p>the monitor thinks that the objective of rescuing the company as a going concern has been achieved,</p></content></level><level class="para1"><num>(c)</num><content><p>the monitor thinks that, by reason of a failure by the directors to comply with a requirement under section A36, the monitor is unable properly to carry out the monitor's functions, or</p></content></level><level class="para1"><num>(d)</num><intro><p>the monitor thinks that the company is unable to pay any of the following that have fallen due—</p></intro><level class="para2"><num>(i)</num><content><p>moratorium debts;</p></content></level><level class="para2"><num>(ii)</num><content><p>pre-moratorium debts for which the company does not have a payment holiday during the moratorium (see section A18).</p></content></level></level></subsection><subsection><num>(2)</num><content><p>The rules may provide for debts that are to be disregarded for the purposes of subsection (1)(d).</p></content></subsection><subsection><num>(3)</num><content><p>On the filing with the court of a notice under subsection (1), the moratorium comes to an end.</p></content></subsection><subsection><num>(4)</num><content><p>The rules may make provision about the timing of a notice required to be given under subsection (1).</p></content></subsection><subsection><num>(5)</num><content><p>The Secretary of State may by regulations amend this section for the purposes of changing the circumstances in which the monitor must bring a moratorium to an end under subsection (1).</p></content></subsection><subsection><num>(6)</num><content><p>Regulations under subsection (5) are subject to the affirmative resolution procedure.</p></content></subsection><subsection><num>(7)</num><content><p>See also section A17 (obligations to notify change in end of moratorium).</p></content></subsection></section><section><num>A39</num><heading>Replacement of monitor or appointment of additional monitor</heading><subsection><num>(1)</num><content><p>The court may make an order authorising the appointment of a qualified person to act as the monitor in relation to a moratorium instead of, or in addition to, a person who already acts as the monitor.</p></content></subsection><subsection><num>(2)</num><content><p>The court may make an order providing that a person ceases to act as the monitor in relation to a moratorium.</p></content></subsection><subsection><num>(3)</num><content><p>An order under subsection (1) or (2) may be made only on an application by the directors or the monitor.</p></content></subsection><subsection><num>(4)</num><intro><p>The court may make an order authorising the appointment of a monitor under subsection (1) only if the person has provided the court with a statement that the person—</p></intro><level class="para1"><num>(a)</num><content><p>is a qualified person, and</p></content></level><level class="para1"><num>(b)</num><content><p>consents to act as the monitor in relation to the moratorium.</p></content></level></subsection><subsection><num>(5)</num><intro><p>Where it is proposed that more than one person should act as the monitor in relation to the moratorium, the statement under subsection (4) must specify—</p></intro><level class="para1"><num>(a)</num><content><p>which functions (if any) are to be exercised by the persons acting jointly, and</p></content></level><level class="para1"><num>(b)</num><content><p>which functions (if any) are to be exercised by any or all of the persons.</p></content></level></subsection><subsection><num>(6)</num><content><p>The rules may make provision about the date on which the statement under subsection (4) must be made.</p></content></subsection><subsection><num>(7)</num><content><p>Where the court makes an order under subsection (1) or (2) the person begins to act as the monitor, or ceases to act as the monitor, in relation to the moratorium at the time specified in, or determined in accordance with, the order (the relevant time).</p></content></subsection><subsection><num>(8)</num><intro><p>As soon as reasonably practicable after the relevant time, the monitor must notify the following of the effect of the order—</p></intro><level class="para1"><num>(a)</num><content><p>the registrar of companies,</p></content></level><level class="para1"><num>(b)</num><content><p>every creditor of the company of whose claim the monitor is aware,</p></content></level><level class="para1"><num>(c)</num><content><p>in a case where the company is or has been an employer in respect of an occupational pension scheme that is not a money purchase scheme, the Pensions Regulator, and</p></content></level><level class="para1"><num>(d)</num><content><p>in a case where the company is an employer in respect of such a pension scheme that is an eligible scheme within the meaning given by section 126 of the Pensions Act 2004, the Board of the Pension Protection Fund.</p></content></level></subsection><subsection><num>(9)</num><content><p>If the monitor without reasonable excuse fails to comply with subsection (8), the monitor commits an offence.</p></content></subsection></section><section><num>A40</num><heading>Application of Part where two or more persons act as monitor</heading><subsection><num>(1)</num><intro><p>Where two or more persons act jointly as the monitor—</p></intro><level class="para1"><num>(a)</num><content><p>a reference in this Act to the monitor is a reference to those persons acting jointly;</p></content></level><level class="para1"><num>(b)</num><intro><p>where an offence of omission is committed by the monitor, each of the persons appointed to act jointly—</p></intro><level class="para2"><num>(i)</num><content><p>commits the offence, and</p></content></level><level class="para2"><num>(ii)</num><content><p>may be proceeded against and punished individually.</p></content></level></level></subsection><subsection><num>(2)</num><content><p>Where persons act jointly in respect of only some of the functions of the monitor, subsection (1) applies only in relation to those functions.</p></content></subsection><subsection><num>(3)</num><content><p>Where two or more persons act concurrently as the monitor a reference in this Act to the monitor is a reference to any of the persons appointed (or any combination of them).</p></content></subsection></section><section><num>A41</num><heading>Presumption of validity</heading><content><p>An act of the monitor is valid in spite of a defect in the monitor's appointment or qualification.</p></content></section></chapter><chapter><num>CHAPTER 6</num><heading>Challenges</heading><section><num>A42</num><heading>Challenge to monitor's actions</heading><subsection><num>(1)</num><content><p>Any of the persons specified below may apply to the court on the ground that an act, omission or decision of the monitor during a moratorium has unfairly harmed the interests of the applicant.</p></content></subsection><subsection><num>(2)</num><intro><p>The persons who may apply are—</p></intro><level class="para1"><num>(a)</num><content><p>a creditor, director or member of the company, or</p></content></level><level class="para1"><num>(b)</num><content><p>any other person affected by the moratorium.</p></content></level></subsection><subsection><num>(3)</num><content><p>An application under subsection (1) may be made during the moratorium or after it has ended.</p></content></subsection><subsection><num>(4)</num><intro><p>On an application under subsection (1) the court may—</p></intro><level class="para1"><num>(a)</num><content><p>confirm, reverse or modify any act or decision of the monitor,</p></content></level><level class="para1"><num>(b)</num><content><p>give the monitor directions, or</p></content></level><level class="para1"><num>(c)</num><content><p>make such other order as it thinks fit (but may not, under this paragraph, order the monitor to pay any compensation).</p></content></level></subsection><subsection><num>(5)</num><content><p>Where an application under subsection (1) relates to a failure by the monitor to bring the moratorium to an end under section A38(1), an order under subsection (4) may, in particular, bring the moratorium to an end and make such consequential provision as the court thinks fit.</p></content></subsection><subsection><num>(6)</num><content><p>Where an application under subsection (1) relates to the monitor bringing a moratorium to an end under section A38(1), an order under subsection (4) may, in particular, provide that the moratorium is not to be taken into account for the purposes of paragraph 2(1)(b) of Schedule ZA1 (company not eligible for moratorium if moratorium in force within previous 12 months).</p></content></subsection><subsection><num>(7)</num><content><p>In making an order under subsection (4) the court must have regard to the need to safeguard the interests of persons who have dealt with the company in good faith and for value.</p></content></subsection><subsection><num>(8)</num><content><p>See also section A17 (obligations to notify change in end of moratorium).</p></content></subsection></section><section><num>A43</num><heading>Challenges to monitor remuneration in insolvency proceedings</heading><subsection><num>(1)</num><content><p>The rules may confer on an administrator or liquidator of a company the right to apply to the court on the ground that remuneration charged by the monitor in relation to a prior moratorium for the company was excessive.</p></content></subsection><subsection><num>(2)</num><intro><p>Rules under subsection (1) may (among other things) make provision as to—</p></intro><level class="para1"><num>(a)</num><content><p>time limits;</p></content></level><level class="para1"><num>(b)</num><content><p>disposals available to the court;</p></content></level><level class="para1"><num>(c)</num><content><p>the treatment of costs (or, in Scotland, the expenses) of the application in the administration or winding up.</p></content></level></subsection></section><section><num>A44</num><heading>Challenge to directors' actions</heading><subsection><num>(1)</num><intro><p>A creditor or member of a company may apply to the court for an order under this section on the ground that—</p></intro><level class="para1"><num>(a)</num><content><p>during a moratorium, the company's affairs, business and property are being or have been managed by the directors in a manner which has unfairly harmed the interests of its creditors or members generally or of some part of its creditors or members (including at least the applicant), or</p></content></level><level class="para1"><num>(b)</num><content><p>any actual or proposed act or omission of the directors during a moratorium causes or would cause such harm.</p></content></level></subsection><subsection><num>(2)</num><content><p>An application under subsection (1) may be made during the moratorium or after it has ended.</p></content></subsection><subsection><num>(3)</num><content><p>On an application under subsection (1) the court may make such order as it thinks fit.</p></content></subsection><subsection><num>(4)</num><intro><p>An order under subsection (3) may in particular—</p></intro><level class="para1"><num>(a)</num><content><p>regulate the management by the directors of the company's affairs, business and property during the remainder of the moratorium,</p></content></level><level class="para1"><num>(b)</num><content><p>require the directors to refrain from doing or continuing an act complained of by the applicant or to do an act which the applicant has complained they have omitted to do,</p></content></level><level class="para1"><num>(c)</num><content><p>require a decision of the company's creditors to be sought (using a qualifying decision procedure) on such matters as the court may direct, or</p></content></level><level class="para1"><num>(d)</num><content><p>bring the moratorium to an end and make such consequential provision as the court thinks fit.</p></content></level></subsection><subsection><num>(5)</num><content><p>In making an order under subsection (3) the court must have regard to the need to safeguard the interests of persons who have dealt with the company in good faith and for value.</p></content></subsection><subsection><num>(6)</num><content><p>See also section A17 (obligations to notify change in end of moratorium).</p></content></subsection></section><section><num>A45</num><heading>Challenge brought by Board of the Pension Protection Fund</heading><subsection><num>(1)</num><intro><p>This section applies where—</p></intro><level class="para1"><num>(a)</num><intro><p>a moratorium—</p></intro><level class="para2"><num>(i)</num><content><p>is in force in relation to a company that is an employer in respect of an eligible scheme, or</p></content></level><level class="para2"><num>(ii)</num><content><p>is or has been in force in relation to a company that has been an employer in respect of an eligible scheme at any time during the moratorium, and</p></content></level></level><level class="para1"><num>(b)</num><content><p>the trustees or managers of the scheme are a creditor of the company.</p></content></level></subsection><subsection><num>(2)</num><content><p>The Board of the Pension Protection Fund may make any application under section A42(1) or A44(1) that could be made by the trustees or managers as a creditor.</p></content></subsection><subsection><num>(3)</num><content><p>For the purposes of such an application, any reference in section A42(1) or A44(1) to the interests of the applicant is to be read as a reference to the interests of the trustees or managers as a creditor.</p></content></subsection><subsection><num>(4)</num><content><p>In this section eligible scheme has the meaning given by section 126 of the Pensions Act 2004.</p></content></subsection></section></chapter><chapter><num>CHAPTER 7</num><heading>Offences: general</heading><section><num>A46</num><heading>Offence of fraud etc during or in anticipation of moratorium</heading><subsection><num>(1)</num><intro><p>An officer of a company commits an offence if, during a moratorium for the company or at any time within the period of 12 months ending with the day on which a moratorium for the company comes into force, the officer—</p></intro><level class="para1"><num>(a)</num><content><p>does any of the things mentioned in subsection (2), or</p></content></level><level class="para1"><num>(b)</num><content><p>was privy to the doing by others of any of the things mentioned in subsection (2)(c), (d) and (e).</p></content></level></subsection><subsection><num>(2)</num><intro><p>Those things are—</p></intro><level class="para1"><num>(a)</num><content><p>concealing any part of the company's property to the value of £500 or more, or concealing any debt due to or from the company,</p></content></level><level class="para1"><num>(b)</num><content><p>fraudulently removing any part of the company's property to the value of £500 or more,</p></content></level><level class="para1"><num>(c)</num><content><p>concealing, destroying, mutilating or falsifying any document affecting or relating to the company's property or affairs,</p></content></level><level class="para1"><num>(d)</num><content><p>making any false entry in any document affecting or relating to the company's property or affairs,</p></content></level><level class="para1"><num>(e)</num><content><p>fraudulently parting with, altering or making any omission in any document affecting or relating to the company's property or affairs, or</p></content></level><level class="para1"><num>(f)</num><content><p>pawning, pledging or disposing of any property of the company which has been obtained on credit and has not been paid for (unless the pawning, pledging or disposal was in the ordinary way of the company's business).</p></content></level></subsection><subsection><num>(3)</num><intro><p>It is a defence—</p></intro><level class="para1"><num>(a)</num><content><p>for a person charged with an offence under subsection (1) in respect of any of the things mentioned in subsection (2)(a) or (f) to prove that the person had no intent to defraud, and</p></content></level><level class="para1"><num>(b)</num><content><p>for a person charged with an offence under subsection (1) in respect of any of the things mentioned in subsection (2)(c) or (d) to prove that the person had no intent to conceal the state of affairs of the company or to defeat the law.</p></content></level></subsection><subsection><num>(4)</num><intro><p>Where a person pawns, pledges or disposes of any property of a company in circumstances which amount to an offence under subsection (1), every person who takes in pawn or pledge, or otherwise receives, the property commits an offence if the person knows it to be pawned, pledged or disposed of in circumstances which—</p></intro><level class="para1"><num>(a)</num><content><p>amount to an offence under subsection (1), or</p></content></level><level class="para1"><num>(b)</num><content><p>would, if a moratorium were obtained for the company within the period of 12 months beginning with the day on which the pawning, pledging or disposal took place, amount to an offence under subsection (1).</p></content></level></subsection><subsection><num>(5)</num><content><p>In this section, officer includes a shadow director.</p></content></subsection></section><section><num>A47</num><heading>Offence of false representation etc to obtain a moratorium</heading><subsection><num>(1)</num><intro><p>An officer of a company commits an offence if, for the purpose of obtaining a moratorium for the company or an extension of a moratorium for the company, the officer—</p></intro><level class="para1"><num>(a)</num><content><p>makes any false representation, or</p></content></level><level class="para1"><num>(b)</num><content><p>fraudulently does, or omits to do, anything.</p></content></level></subsection><subsection><num>(2)</num><content><p>Subsection (1) applies even if no moratorium or extension is obtained.</p></content></subsection><subsection><num>(3)</num><content><p>In this section, officer includes a shadow director.</p></content></subsection></section><section><num>A48</num><heading>Prosecution of delinquent officers of company</heading><subsection><num>(1)</num><content><p>This section applies where a moratorium has been obtained for a company.</p></content></subsection><subsection><num>(2)</num><intro><p>If it appears to the monitor that any past or present officer of the company has committed an offence in connection with the moratorium, the monitor must forthwith—</p></intro><level class="para1"><num>(a)</num><content><p>report the matter to the appropriate authority, and</p></content></level><level class="para1"><num>(b)</num><content><p>provide the appropriate authority with such information and give the authority such access to and facilities for inspecting and taking copies of documents (being information or documents in the possession or under the control of the monitor and relating to the matter in question) as the authority requires.</p></content></level></subsection><subsection><num>(3)</num><intro><p>In subsection (2), the appropriate authority—</p></intro><level class="para1"><num>(a)</num><content><p>in the case of a company registered in England and Wales, means the Secretary of State,</p></content></level><level class="para1"><num>(b)</num><content><p>in the case of a company registered in Scotland, means the Lord Advocate, and</p></content></level><level class="para1"><num>(c)</num><intro><p>in the case of an unregistered company means—</p></intro><level class="para2"><num>(i)</num><content><p>if it has a principal place of business in England and Wales but not Scotland, the Secretary of State,</p></content></level><level class="para2"><num>(ii)</num><content><p>if it has a principal place of business in Scotland but not England and Wales, the Lord Advocate,</p></content></level><level class="para2"><num>(iii)</num><content><p>if it has a principal place of business in both England and Wales and Scotland, the Secretary of State and the Lord Advocate, and</p></content></level><level class="para2"><num>(iv)</num><content><p>if it does not have a principal place of business in England and Wales or Scotland, the Secretary of State.</p></content></level></level></subsection><subsection><num>(4)</num><content><p>Where a matter is reported to the Secretary of State under subsection (2), the Secretary of State may, for the purpose of investigating the matter and such other matters relating to the affairs of the company as appear to the Secretary of State to require investigation, exercise any of the powers which are exercisable by inspectors appointed under section 431 or 432 of the Companies Act 1985.</p></content></subsection><subsection><num>(5)</num><content><p>For the purpose of such an investigation any obligation imposed on a person by any provision of the Companies Acts to produce documents or give information to, or otherwise to assist, inspectors so appointed is to be regarded as an obligation similarly to assist the Secretary of State in the Secretary of State's investigation.</p></content></subsection><subsection><num>(6)</num><content><p>Where a question is put to a person in exercise of the powers conferred by subsection (4), the person's answer may be used in evidence against them.</p></content></subsection><subsection><num>(7)</num><intro><p>However, in criminal proceedings in which the person is charged with an offence other than a false statement offence—</p></intro><level class="para1"><num>(a)</num><content><p>no evidence relating to the answer may be adduced, and</p></content></level><level class="para1"><num>(b)</num><content><p>no question relating to it may be asked,</p></content></level><wrapUp><p>by or on behalf of the prosecution, unless evidence relating to it is adduced, or a question relating to it is asked, in the proceedings by or on behalf of the person.</p></wrapUp></subsection><subsection><num>(8)</num><intro><p>In subsection (7)
false statement offence means—</p></intro><level class="para1"><num>(a)</num><content><p>an offence under section 2 or 5 of the Perjury Act 1911 (false statements made on oath otherwise than in judicial proceedings or made otherwise than on oath), or</p></content></level><level class="para1"><num>(b)</num><content><p>an offence under section 44(1) or (2) of the Criminal Law (Consolidation)
(Scotland) Act 1995 (false statements made on oath or otherwise than on oath).</p></content></level></subsection><subsection><num>(9)</num><content><p>Where a prosecuting authority institutes criminal proceedings following any report under subsection (2), the monitor, and every officer and agent of the company past and present (other than the defendant or defender), must give the authority all assistance in connection with the prosecution which they are reasonably able to give.</p></content></subsection><subsection><num>(10)</num><intro><p>For this purpose—</p></intro><hcontainer name="definition"><content><p>agent includes any banker or solicitor of the company and any person employed by the company as auditor, whether that person is or is not an officer of the company;</p></content></hcontainer><hcontainer name="definition"><content><p>prosecuting authority means the Director of Public Prosecutions, the Lord Advocate or the Secretary of State.</p></content></hcontainer></subsection><subsection><num>(11)</num><content><p>The court may, on the application of the prosecuting authority, direct a person who has failed to comply with subsection (9) to comply with it.</p></content></subsection></section></chapter><chapter><num>CHAPTER 8</num><heading>Miscellaneous and general</heading><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Special rules for certain kinds of company etc</i></heading><section><num>A49</num><heading>Regulated companies: modifications to this Part</heading><subsection><num>(1)</num><content><p>For the purposes of sections A3 and A4 as they apply in relation to a regulated company, section A6(1) has effect as if the documents listed there included a reference to the written consent of the appropriate regulator to the appointment of the proposed monitor.</p></content></subsection><subsection><num>(2)</num><content><p>The remaining provisions of this section apply in relation to a moratorium for a regulated company.</p></content></subsection><subsection><num>(3)</num><content><p>Any notice under section A8(2), A17(2) to (4) or A39(8) must also be sent by the monitor to the appropriate regulator.</p></content></subsection><subsection><num>(4)</num><content><p>The directors must give the appropriate regulator notice of any qualifying decision procedure by which a decision of the company's creditors is sought for the purposes of section A12(2) or A44(4)(c).</p></content></subsection><subsection><num>(5)</num><content><p>If the directors fail to comply with subsection (4), any director who did not have a reasonable excuse for the failure commits an offence.</p></content></subsection><subsection><num>(6)</num><content><p>The appropriate regulator, or a person appointed by the appropriate regulator, may in the way provided for by the rules, participate (but not vote) in any qualifying decision procedure by which a decision of the company's creditors is sought for the purposes of this Part.</p></content></subsection><subsection><num>(7)</num><content><p>The appropriate regulator is entitled to be heard on any application to the court for permission under section A31(1) or A32(1)
(disposal of charged property, etc).</p></content></subsection><subsection><num>(8)</num><content><p>The court may make an order under section A39(1) only if the appropriate regulator has given its written consent to the appointment of the proposed monitor.</p></content></subsection><subsection><num>(9)</num><content><p>The persons who may apply to the court under section A39(3), A42(1) or A44(1) include the appropriate regulator.</p></content></subsection><subsection><num>(10)</num><content><p>If a person other than a regulator applies to the court under section A39(3), A42(1) or A44(1) the appropriate regulator is entitled to be heard on the application.</p></content></subsection><subsection><num>(11)</num><content><p>If either regulator makes an application to the court under section A39(3), A42(1) or A44(1) in relation to a PRA-regulated company, the other regulator is entitled to be heard on the application.</p></content></subsection><subsection><num>(12)</num><content><p>This section does not affect any right that the appropriate regulator has (apart from this section) as a creditor of a regulated company.</p></content></subsection><subsection><num>(13)</num><intro><p>In this section—</p></intro><hcontainer name="definition"><intro><p>the appropriate regulator means—</p></intro><level class="para1"><num>(a)</num><content><p>where the regulated company is a PRA-regulated company, each of the Financial Conduct Authority and the Prudential Regulation Authority, and</p></content></level><level class="para1"><num>(b)</num><content><p>where the regulated company is not a PRA-regulated company, the Financial Conduct Authority;</p></content></level></hcontainer><hcontainer name="definition"><content><p>PRA-authorised person has the meaning given by section 2B(5) of the Financial Services and Markets Act 2000;</p></content></hcontainer><hcontainer name="definition"><intro><p>PRA-regulated company means a regulated company which—</p></intro><level class="para1"><num>(a)</num><content><p>is, or has been, a PRA-authorised person,</p></content></level><level class="para1"><num>(b)</num><content><p>is, or has been, an appointed representative within the meaning given by section 39 of the Financial Services and Markets Act 2000, whose principal (or one of whose principals) is, or was, a PRA-authorised person, or</p></content></level><level class="para1"><num>(c)</num><content><p>is carrying on, or has carried on, a PRA-regulated activity (within the meaning of section 22A of that Act) in contravention of the general prohibition;</p></content></level></hcontainer><hcontainer name="definition"><content><p>regulated activity has the meaning given by section 22 of the Financial Services and Markets Act 2000, taken with Schedule 2 to that Act and any order under that section;</p></content></hcontainer><hcontainer name="definition"><intro><p>regulated company means a company which—</p></intro><level class="para1"><num>(a)</num><content><p>is, or has been, an authorised person within the meaning given by section 31 of the Financial Services and Markets Act 2000,</p></content></level><level class="para1"><num>(b)</num><content><p>is, or has been, an appointed representative within the meaning given by section 39 of that Act, or</p></content></level><level class="para1"><num>(c)</num><content><p>is carrying on, or has carried on, a regulated activity in contravention of the general prohibition within the meaning given by section 19 of that Act;</p></content></level></hcontainer><hcontainer name="definition"><content><p>regulator means the Financial Conduct Authority or the Prudential Regulation Authority.</p></content></hcontainer></subsection><subsection><num>(14)</num><content><p>The Secretary of State may by regulations amend this section for the purposes of changing the definition of regulated company in subsection (13).</p></content></subsection><subsection><num>(15)</num><content><p>Regulations under subsection (14) are subject to the affirmative resolution procedure.</p></content></subsection></section><section><num>A50</num><heading>Power to modify this Part etc in relation to certain companies</heading><subsection><num>(1)</num><intro><p>The Secretary of State may by regulations make provision under the law of England and Wales or Scotland—</p></intro><level class="para1"><num>(a)</num><content><p>to modify this Part as it applies in relation to a company for which there is a special administration regime, or</p></content></level><level class="para1"><num>(b)</num><content><p>in connection with the interaction between this Part and any other insolvency procedure in relation to such a company.</p></content></level></subsection><subsection><num>(2)</num><intro><p>The Welsh Ministers may by regulations make provision under the law of England and Wales—</p></intro><level class="para1"><num>(a)</num><content><p>to modify this Part as it applies in relation to a company that is a social landlord registered under Part 1 of the Housing Act 1996, or</p></content></level><level class="para1"><num>(b)</num><content><p>make provision in connection with the interaction between this Part and any other insolvency procedure in relation to such a company.</p></content></level></subsection><subsection><num>(3)</num><intro><p>The Scottish Ministers may by regulations make provision under the law of Scotland—</p></intro><level class="para1"><num>(a)</num><content><p>to modify this Part as it applies in relation to a company that is a social landlord registered under Part 2 of the Housing (Scotland) Act 2010 (asp 17), or</p></content></level><level class="para1"><num>(b)</num><content><p>make provision in connection with the interaction between this Part and any other insolvency procedure in relation to such a company.</p></content></level></subsection><subsection><num>(4)</num><content><p>The Secretary of State may, by regulations, make any provision under the law of England and Wales, Scotland or Northern Ireland that appears to the Secretary of State to be appropriate in view of provision made under subsection (1), (2) or (3).</p></content></subsection><subsection><num>(5)</num><content><p>The power in subsection (1), (2), (3) or (4) may, in particular, be used to amend, repeal, revoke or otherwise modify any provision made by an enactment.</p></content></subsection><subsection><num>(6)</num><content><p>Regulations under subsection (1) or (4) are subject to the affirmative resolution procedure.</p></content></subsection><subsection><num>(7)</num><content><p>A statutory instrument containing regulations under subsection (2) may not be made unless a draft of the statutory instrument containing them has been laid before and approved by a resolution of Senedd Cymru.</p></content></subsection><subsection><num>(8)</num><content><p>Regulations made by the Scottish Ministers under subsection (3) are subject to the affirmative procedure (see section 29 of the Interpretation and Legislative Reform (Scotland) Act 2010 (asp 10)).</p></content></subsection><subsection><num>(9)</num><intro><p>In this section—</p></intro><hcontainer name="definition"><intro><p>insolvency procedure includes—</p></intro><level class="para1"><num>(a)</num><content><p>in relation to subsection (1)(b), the provision made by sections 143A to 159 of the Housing and Regeneration Act 2008;</p></content></level><level class="para1"><num>(b)</num><content><p>in relation to subsection (2)(b), the provision made by sections 39 to 50 of the Housing Act 1996;</p></content></level><level class="para1"><num>(c)</num><content><p>in relation to subsection (3)(b), the provision made by Part 7 of the Housing (Scotland) Act 2010;</p></content></level></hcontainer><hcontainer name="definition"><content><p>ordinary administration means the insolvency procedure provided for by Schedule B1;</p></content></hcontainer><hcontainer name="definition"><intro><p>special administration regime means provision made by an enactment for an insolvency procedure that—</p></intro><level class="para1"><num>(a)</num><content><p>is similar or corresponds to ordinary administration, and</p></content></level><level class="para1"><num>(b)</num><content><p>provides for the administrator to have one or more special objectives instead of or in addition to the objectives of ordinary administration.</p></content></level></hcontainer></subsection></section><section><num>A51</num><heading>Power to make provision in connection with pension schemes</heading><subsection><num>(1)</num><intro><p>The Secretary of State may by regulations provide that, in a case where—</p></intro><level class="para1"><num>(a)</num><intro><p>a moratorium—</p></intro><level class="para2"><num>(i)</num><content><p>is in force in relation to a company that is an employer in respect of an eligible scheme, or</p></content></level><level class="para2"><num>(ii)</num><content><p>is or has been in force in relation to a company that has been an employer in respect of an eligible scheme at any time during the moratorium, and</p></content></level></level><level class="para1"><num>(b)</num><content><p>the trustees or managers of the scheme are a creditor of the company,</p></content></level><wrapUp><p>the Board of the Pension Protection Fund may exercise any of the following rights.</p></wrapUp></subsection><subsection><num>(2)</num><intro><p>The rights are those which are exercisable by the trustees or managers as a creditor of the company under or by virtue of—</p></intro><level class="para1"><num>(a)</num><content><p>section A12, or</p></content></level><level class="para1"><num>(b)</num><content><p>a court order under section A44(4)(c).</p></content></level></subsection><subsection><num>(3)</num><intro><p>Regulations under subsection (1) may provide that the Board may exercise any such rights—</p></intro><level class="para1"><num>(a)</num><content><p>to the exclusion of the trustees or managers of the scheme, or</p></content></level><level class="para1"><num>(b)</num><content><p>in addition to the exercise of those rights by the trustees or managers of the scheme.</p></content></level></subsection><subsection><num>(4)</num><intro><p>Regulations under subsection (1)—</p></intro><level class="para1"><num>(a)</num><content><p>may specify conditions that must be met before the Board may exercise any such rights;</p></content></level><level class="para1"><num>(b)</num><content><p>may provide for any such rights to be exercisable by the Board for a specified period;</p></content></level><level class="para1"><num>(c)</num><content><p>may make provision in connection with any such rights ceasing to be so exercisable at the end of such a period.</p></content></level></subsection><subsection><num>(5)</num><content><p>Regulations under subsection (1) are subject to the affirmative resolution procedure.</p></content></subsection><subsection><num>(6)</num><content><p>In this section eligible scheme has the meaning given by section 126 of the Pensions Act 2004.</p></content></subsection></section></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Floating charges</i></heading><section><num>A52</num><heading>Void provisions in floating charge documents</heading><subsection><num>(1)</num><intro><p>A provision in an instrument creating a floating charge is void if it provides for the obtaining of a moratorium, or anything done with a view to obtaining a moratorium, to be—</p></intro><level class="para1"><num>(a)</num><content><p>an event causing the floating charge to crystallise,</p></content></level><level class="para1"><num>(b)</num><content><p>an event causing restrictions which would not otherwise apply to be imposed on the disposal of property by the company, or</p></content></level><level class="para1"><num>(c)</num><content><p>a ground for the appointment of a receiver.</p></content></level></subsection><subsection><num>(2)</num><content><p>The reference in subsection (1) to anything done with a view to obtaining a moratorium includes any preliminary decision or investigation.</p></content></subsection><subsection><num>(3)</num><content><p>In subsection (1)
receiver includes a manager and a person who is appointed both receiver and manager.</p></content></subsection><subsection><num>(4)</num><intro><p>Subsection (1) does not apply to a provision in an instrument creating a floating charge that is—</p></intro><level class="para1"><num>(a)</num><content><p>a collateral security (as defined by section A27);</p></content></level><level class="para1"><num>(b)</num><content><p>a market charge (as defined by section A27);</p></content></level><level class="para1"><num>(c)</num><content><p>a security financial collateral arrangement (within the meaning of regulation 3 of the Financial Collateral Arrangements (No. 2) Regulations 2003 (S.I. 2003/3226));</p></content></level><level class="para1"><num>(d)</num><content><p>a system-charge (as defined by section A27).</p></content></level></subsection></section></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Interpretation of this Part</i></heading><section><num>A53</num><heading>Meaning of pre-moratorium debt and moratorium debt</heading><subsection><num>(1)</num><intro><p>In this Part pre-moratorium debt, in relation to a company for which a moratorium is or has been in force, means—</p></intro><level class="para1"><num>(a)</num><content><p>any debt or other liability to which the company becomes subject before the moratorium comes into force, or</p></content></level><level class="para1"><num>(b)</num><content><p>any debt or other liability to which the company has become or may become subject during the moratorium by reason of any obligation incurred before the moratorium comes into force,</p></content></level><wrapUp><p>but this is subject to subsection (3).</p></wrapUp></subsection><subsection><num>(2)</num><intro><p>In this Part moratorium debt, in relation to a company for which a moratorium is or has been in force, means—</p></intro><level class="para1"><num>(a)</num><content><p>any debt or other liability to which the company becomes subject during the moratorium, other than by reason of an obligation incurred before the moratorium came into force, or</p></content></level><level class="para1"><num>(b)</num><content><p>any debt or other liability to which the company has become or may become subject after the end of the moratorium by reason of an obligation incurred during the moratorium,</p></content></level><wrapUp><p>but this is subject to subsection (3).</p></wrapUp></subsection><subsection><num>(3)</num><intro><p>For the purposes of this Part—</p></intro><level class="para1"><num>(a)</num><intro><p>a liability in tort or delict is a pre-moratorium debt if either—</p></intro><level class="para2"><num>(i)</num><content><p>the cause of action has accrued before the moratorium comes into force, or</p></content></level><level class="para2"><num>(ii)</num><content><p>all the elements necessary to establish the cause of action exist before the moratorium comes into force except for actionable damage;</p></content></level></level><level class="para1"><num>(b)</num><intro><p>a liability in tort or delict is a moratorium debt if it does not fall within paragraph (a) and either—</p></intro><level class="para2"><num>(i)</num><content><p>the cause of action has accrued during the moratorium, or</p></content></level><level class="para2"><num>(ii)</num><content><p>all the elements necessary to establish the cause of action exist before the moratorium comes to an end except for actionable damage.</p></content></level></level></subsection><subsection><num>(4)</num><content><p>The Secretary of State may by regulations amend this section for the purposes of changing the definition of pre-moratorium debt or moratorium debt in this Part.</p></content></subsection><subsection><num>(5)</num><content><p>Regulations under subsection (4) are subject to the affirmative resolution procedure.</p></content></subsection></section><section><num>A54</num><heading>Interpretation of this Part: general</heading><subsection><num>(1)</num><intro><p>In this Part—</p></intro><hcontainer name="definition"><intro><p>company means—</p></intro><level class="para1"><num>(a)</num><content><p>a company registered under the Companies Act 2006 in England and Wales or Scotland, or</p></content></level><level class="para1"><num>(b)</num><content><p>an unregistered company that may be wound up under Part 5 of this Act;</p></content></level></hcontainer><hcontainer name="definition"><content><p>the court means such court as is prescribed;</p></content></hcontainer><hcontainer name="definition"><content><p>eligible, in relation to a company, has the meaning given by Schedule ZA1;</p></content></hcontainer><hcontainer name="definition"><intro><p>employer, in relation to a pension scheme—</p></intro><level class="para1"><num>(a)</num><content><p>in sections A8(2)(c), A17(8)(c) and A39(8)(c), means an employer within the meaning of section 318(1) of the Pensions Act 2004;</p></content></level><level class="para1"><num>(b)</num><content><p>elsewhere in this Part, has the same meaning that it has for the purposes of Part 2 of the Pensions Act 2004 (see section 318(1) and (4) of that Act);</p></content></level></hcontainer><hcontainer name="definition"><content><p>enactment includes an Act of the Scottish Parliament and an instrument made under such an Act;</p></content></hcontainer><hcontainer name="definition"><content><p>hire-purchase agreement includes a conditional sale agreement, a chattel leasing agreement and a retention of title agreement;</p></content></hcontainer><hcontainer name="definition"><content><p>liability means (subject to subsection (2)) a liability to pay money or money's worth, including any liability under an enactment, a liability for breach of trust, any liability in contract, tort, delict or bailment, and any liability arising out of an obligation to make restitution;</p></content></hcontainer><hcontainer name="definition"><content><p>money purchase scheme has the meaning given by section 181(1) of the Pension Schemes Act 1993;</p></content></hcontainer><hcontainer name="definition"><content><p>the monitor, in relation to a moratorium, means the person who has the functions of the monitor in relation to the moratorium (see also section A40 for cases where two or more persons act as the monitor);</p></content></hcontainer><hcontainer name="definition"><content><p>moratorium means a moratorium under this Part;</p></content></hcontainer><hcontainer name="definition"><content><p>moratorium debt has the meaning given by section A53;</p></content></hcontainer><hcontainer name="definition"><content><p>occupational pension scheme has the meaning given by section 1 of the Pension Schemes Act 1993;</p></content></hcontainer><hcontainer name="definition"><content><p>pension scheme has the meaning given by section 1 of the Pension Schemes Act 1993;</p></content></hcontainer><hcontainer name="definition"><content><p>pre-moratorium debt has the meaning given by section A53;</p></content></hcontainer><hcontainer name="definition"><content><p>qualified person means a person qualified to act as an insolvency practitioner;</p></content></hcontainer><hcontainer name="definition"><intro><p>unable to pay its debts—</p></intro><level class="para1"><num>(a)</num><content><p>in relation to a registered company, has the same meaning as in Part 4 (see section 123);</p></content></level><level class="para1"><num>(b)</num><content><p>in relation to an unregistered company, has the same meaning as in Part 5 (see sections 222 to 224).</p></content></level></hcontainer></subsection><subsection><num>(2)</num><content><p>For the purposes of references in any provision of this Part to a debt or liability it is immaterial whether the debt or liability is present or future, whether it is certain or contingent, or whether its amount is fixed or liquidated, or is capable of being ascertained by fixed rules or as a matter of opinion.</p></content></subsection><subsection><num>(3)</num><content><p>In this Part references to filing a document with the court are, in relation to a court in Scotland, references to lodging it in court.</p></content></subsection><subsection><num>(4)</num><content><p>The Secretary of State may by regulations amend this section for the purposes of changing the definition of qualified person in subsection (1).</p></content></subsection><subsection><num>(5)</num><content><p>Regulations under subsection (4) are subject to the affirmative resolution procedure.</p></content></subsection></section></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Regulations</i></heading><section><num>A55</num><heading>Regulations</heading><subsection><num>(1)</num><intro><p>Regulations under this Part may make—</p></intro><level class="para1"><num>(a)</num><content><p>different provision for different purposes;</p></content></level><level class="para1"><num>(b)</num><content><p>consequential, supplementary, incidental or transitional provision or savings.</p></content></level></subsection><subsection><num>(2)</num><content><p>Regulations under this Part are to be made by statutory instrument, unless they are made by the Scottish Ministers.</p></content></subsection><subsection><num>(3)</num><content><p>Where regulations of the Secretary of State under this Part are subject to the affirmative resolution procedure, they may not be made unless a draft of the statutory instrument containing them has been laid before Parliament and approved by a resolution of each House of Parliament.</p></content></subsection></section></hcontainer></chapter></part></quotedStructure></mod></p></content></subsection><subsection eId="section-1-2"><num>(2)</num><content><p>Schedule 1 inserts into the Insolvency Act 1986 a new Schedule ZA1 (eligible companies).</p></content></subsection><subsection eId="section-1-3"><num>(3)</num><content><p>Schedule 2 inserts into the Insolvency Act 1986 a new Schedule ZA2 (contracts involving financial services).</p></content></subsection></section><section eId="section-2"><num>2</num><heading>Moratoriums in Great Britain: further amendments and transition</heading><subsection eId="section-2-1"><num>(1)</num><content><p>Schedule 3 contains consequential and other amendments to do with moratoriums under new Part A1 of the Insolvency Act 1986.</p></content></subsection><subsection eId="section-2-2"><num>(2)</num><content><p>Nothing in this Act affects the operation of the Insolvency Act 1986, or any other enactment, in relation to a moratorium under Schedule A1 to that Act which comes into force before the repeal of that Schedule by Schedule 3 to this Act.</p></content></subsection><subsection eId="section-2-3"><num>(3)</num><content><p>Subsection (2) is without prejudice to the operation of section 16 of the Interpretation Act 1978 (general savings).</p></content></subsection></section><section eId="section-3"><num>3</num><heading>Moratoriums in Great Britain: temporary modifications</heading><content><p>Schedule 4 makes temporary modifications to Part A1 of the Insolvency Act 1986 (moratorium) and other temporary provision in connection with that Part.</p></content></section><section eId="section-4"><num>4</num><heading>Moratoriums in Northern Ireland</heading><subsection eId="section-4-1"><num>(1)</num><content><p><mod>In the Insolvency (Northern Ireland) Order 1989 (<ref eId="c00010" href="http://www.legislation.gov.uk/id/nisi/1989/2405">S.I. 1989/2405 (N.I. 19)</ref>), immediately before Part 2 (and after the heading before Parts 2 to 7) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="order" ukl:Context="main" ukl:Format="double"><part><num>PART 1A</num><heading>Moratorium</heading><chapter><num>CHAPTER 1</num><heading>Introductory</heading><article><heading>Overview</heading><num>13A</num><paragraph><num>(1)</num><content><p>This Part contains provision that enables an eligible company, in certain circumstances, to obtain a moratorium, giving it various protections from creditors set out in this Part.</p></content></paragraph><paragraph><num>(2)</num><content><p>In this Chapter Article <ref href="#d28e4611">13AA</ref> introduces Schedule ZA1 (which defines what is meant by an “eligible” company).</p></content></paragraph><paragraph><num>(3)</num><content><p>Chapter 2 sets out how an eligible company may obtain a moratorium.</p></content></paragraph><paragraph><num>(4)</num><content><p>Chapter 3 sets out for how long a moratorium has effect.</p></content></paragraph><paragraph><num>(5)</num><content><p>Chapter 4 sets out the effects of a moratorium on the company and its creditors.</p></content></paragraph><paragraph><num>(6)</num><content><p>Chapter 5 contains provision about the monitor.</p></content></paragraph><paragraph><num>(7)</num><content><p>Chapter 6 contains provision about challenges.</p></content></paragraph><paragraph><num>(8)</num><content><p>Chapter 7 contains provision about certain offences.</p></content></paragraph><paragraph><num>(9)</num><intro><p>Chapter 8 contains miscellaneous and general provision, including—</p></intro><level class="para1"><num>(a)</num><content><p>special provision for certain kinds of company;</p></content></level><level class="para1"><num>(b)</num><content><p>definitions for the purposes of this Part;</p></content></level><level class="para1"><num>(c)</num><content><p>provision about regulations under this Part.</p></content></level></paragraph></article><article eId="d28e4611"><heading>Eligible companies</heading><num>13AA</num><content><p>Schedule ZA1 contains provision for determining whether a company is an eligible company for the purposes of this Part.</p></content></article></chapter><chapter><num>CHAPTER 2</num><heading>Obtaining a moratorium</heading><article eId="d28e4625"><heading>Obtaining a moratorium by filing documents at High Court</heading><num>13B</num><paragraph eId="d28e4629"><num>(1)</num><intro><p>This Article applies to an eligible company that—</p></intro><level class="para1" eId="d28e4635"><num>(a)</num><content><p>is not subject to an outstanding winding-up petition, and</p></content></level><level class="para1"><num>(b)</num><content><p>is not an overseas company.</p></content></level></paragraph><paragraph eId="d28e4647"><num>(2)</num><content><p>The directors of the company may obtain a moratorium for the company by filing the relevant documents with the High Court (for the relevant documents, see Article <ref href="#d28e4790">13BC</ref>).</p></content></paragraph><paragraph eId="d28e4656"><num>(3)</num><intro><p>For the purposes of this Chapter a company is “subject to an outstanding winding-up petition” if—</p></intro><level class="para1"><num>(a)</num><content><p>a petition for the winding up of the company has been presented, and</p></content></level><level class="para1"><num>(b)</num><content><p>the petition has not been withdrawn or determined.</p></content></level></paragraph></article><article eId="d28e4677"><heading>Obtaining a moratorium for company subject to winding-up petition</heading><num>13BA</num><paragraph eId="d28e4681"><num>(1)</num><content><p>This Article applies to an eligible company that is subject to an outstanding winding-up petition.</p></content></paragraph><paragraph><num>(2)</num><content><p>The directors of the company may apply to the High Court for a moratorium for the company.</p></content></paragraph><paragraph><num>(3)</num><content><p>The application must be accompanied by the relevant documents (for the relevant documents, see Article <ref href="#d28e4790">13BC</ref>).</p></content></paragraph><paragraph><num>(4)</num><intro><p>On hearing the application the Court may—</p></intro><level class="para1" eId="d28e4708"><num>(a)</num><content><p>make an order that the company should be subject to a moratorium, or</p></content></level><level class="para1"><num>(b)</num><content><p>make any other order which the Court thinks appropriate.</p></content></level></paragraph><paragraph><num>(5)</num><content><p>The Court may make an order under paragraph <ref href="#d28e4708">(4)(a)</ref> only if it is satisfied that a moratorium for the company would achieve a better result for the company’s creditors as a whole than would be likely if the company were wound up (without first being subject to a moratorium).</p></content></paragraph></article><article eId="d28e4732"><heading>Obtaining a moratorium for other overseas companies</heading><num>13BB</num><paragraph><num>(1)</num><intro><p>This Article applies to an eligible company that—</p></intro><level class="para1"><num>(a)</num><content><p>is not subject to an outstanding winding-up petition, and</p></content></level><level class="para1"><num>(b)</num><content><p>is an overseas company.</p></content></level></paragraph><paragraph><num>(2)</num><content><p>The directors of the company may apply to the High Court for a moratorium for the company.</p></content></paragraph><paragraph><num>(3)</num><content><p>The application must be accompanied by the relevant documents (for the relevant documents, see Article <ref href="#d28e4790">13BC</ref>).</p></content></paragraph><paragraph><num>(4)</num><intro><p>On hearing the application the Court may—</p></intro><level class="para1" eId="d28e4775"><num>(a)</num><content><p>make an order that the company should be subject to a moratorium, or</p></content></level><level class="para1"><num>(b)</num><content><p>make any other order which the Court thinks appropriate.</p></content></level></paragraph></article><article eId="d28e4790"><heading>The relevant documents</heading><num>13BC</num><paragraph eId="d28e4794"><num>(1)</num><intro><p>For the purposes of this Chapter, “the relevant documents” are—</p></intro><level class="para1" eId="d28e4800"><num>(a)</num><content><p>a notice that the directors wish to obtain a moratorium,</p></content></level><level class="para1" eId="d28e4806"><num>(b)</num><intro><p>a statement from a qualified person (“the proposed monitor”) that the person—</p></intro><level class="para2"><num>(i)</num><content><p>is a qualified person, and</p></content></level><level class="para2"><num>(ii)</num><content><p>consents to act as the monitor in relation to the proposed moratorium,</p></content></level></level><level class="para1" eId="d28e4824"><num>(c)</num><content><p>a statement from the proposed monitor that the company is an eligible company,</p></content></level><level class="para1" eId="d28e4830"><num>(d)</num><content><p>a statement from the directors that, in their view, the company is, or is likely to become, unable to pay its debts, and</p></content></level><level class="para1" eId="d28e4836"><num>(e)</num><content><p>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.</p></content></level></paragraph><paragraph eId="d28e4842"><num>(2)</num><intro><p>Where it is proposed that more than one person should act as the monitor in relation to the proposed moratorium—</p></intro><level class="para1"><num>(a)</num><content><p>each of them must make a statement under paragraph <ref href="#d28e4806">(1)(b)</ref>, <ref href="#d28e4824">(c)</ref> and <ref href="#d28e4836">(e)</ref>, and</p></content></level><level class="para1"><num>(b)</num><intro><p>the statement under paragraph <ref href="#d28e4806">(1)(b)</ref> must specify—</p></intro><level class="para2"><num>(i)</num><content><p>which functions (if any) are to be exercised by the persons acting jointly, and</p></content></level><level class="para2"><num>(ii)</num><content><p>which functions (if any) are to be exercised by any or all of the persons.</p></content></level></level></paragraph><paragraph><num>(3)</num><content><p>The rules may make provision about the date on which a statement comprised in the relevant documents must be made.</p></content></paragraph><paragraph eId="d28e4890"><num>(4)</num><content><p>Regulations may amend this Article for the purposes of adding to the list of documents in paragraph <ref href="#d28e4794">(1)</ref>.</p></content></paragraph><paragraph><num>(5)</num><content><p>Regulations may not be made under paragraph <ref href="#d28e4890">(4)</ref> unless a draft of the regulations has been laid before, and approved by a resolution of, the Assembly.</p></content></paragraph></article><article><heading>Beginning of moratorium and appointment of monitor</heading><num>13BD</num><paragraph><num>(1)</num><intro><p>A moratorium for a company comes into force at the time at which—</p></intro><level class="para1"><num>(a)</num><content><p>in the case of a company to which Article <ref href="#d28e4625">13B</ref> applies, the relevant documents are filed with the High Court under paragraph <ref href="#d28e4647">(2)</ref> of that Article;</p></content></level><level class="para1"><num>(b)</num><content><p>in the case of a company to which Article <ref href="#d28e4677">13BA</ref> applies, an order is made under Article <ref href="#d28e4677">13BA</ref><ref href="#d28e4708">(4)(a)</ref>;</p></content></level><level class="para1"><num>(c)</num><content><p>in the case of a company to which Article <ref href="#d28e4732">13BB</ref> applies, an order is made under Article <ref href="#d28e4732">13BB</ref><ref href="#d28e4775">(4)(a)</ref>.</p></content></level></paragraph><paragraph><num>(2)</num><content><p>On the coming into force of a moratorium, the person or persons who made the statement mentioned in Article <ref href="#d28e4790">13BC</ref><ref href="#d28e4806">(1)(b)</ref> become the monitor in relation to the moratorium.</p></content></paragraph></article><article eId="d28e4975"><heading>Obligations to notify where moratorium comes into force</heading><num>13BE</num><paragraph eId="d28e4979"><num>(1)</num><content><p>As soon as reasonably practicable after a moratorium for a company comes into force, the directors must notify the monitor of that fact.</p></content></paragraph><paragraph eId="d28e4985"><num>(2)</num><intro><p>As soon as reasonably practicable after receiving a notice under paragraph <ref href="#d28e4979">(1)</ref>, the monitor must notify the following that a moratorium for the company has come into force—</p></intro><level class="para1" eId="d28e4994"><num>(a)</num><content><p>the registrar,</p></content></level><level class="para1"><num>(b)</num><content><p>every creditor of the company of whose claim the monitor is aware,</p></content></level><level class="para1"><num>(c)</num><content><p>in a case where the company is or has been an employer in respect of an occupational pension scheme that is not a money purchase scheme, the Pensions Regulator, and</p></content></level><level class="para1"><num>(d)</num><content><p>in a case where the company is an employer in respect of such a pension scheme that is an eligible scheme within the meaning given by Article 110 of the Pensions (Northern Ireland) Order 2005, the Board of the Pension Protection Fund.</p></content></level></paragraph><paragraph><num>(3)</num><intro><p>A notice under paragraph <ref href="#d28e4985">(2)</ref> must specify—</p></intro><level class="para1"><num>(a)</num><content><p>when the moratorium came into force, and</p></content></level><level class="para1"><num>(b)</num><content><p>when, subject to any alteration under or by virtue of any of the provisions mentioned in Article <ref href="#d28e5076">13C</ref><ref href="#d28e5098">(3)</ref> or <ref href="#d28e5140">(4)</ref>, the moratorium will come to an end.</p></content></level></paragraph><paragraph eId="d28e5047"><num>(4)</num><content><p>If the directors fail to comply with paragraph <ref href="#d28e4979">(1)</ref>, any director who did not have a reasonable excuse for the failure commits an offence.</p></content></paragraph><paragraph eId="d28e5056"><num>(5)</num><content><p>If the monitor without reasonable excuse fails to comply with paragraph <ref href="#d28e4985">(2)</ref>, the monitor commits an offence.</p></content></paragraph></article></chapter><chapter><num>CHAPTER 3</num><heading>Length of moratorium</heading><hcontainer name="crossheading" ukl:Name="Pblock"><heading>Initial period</heading><article eId="d28e5076"><heading>End of the moratorium</heading><num>13C</num><paragraph eId="d28e5080"><num>(1)</num><content><p>A moratorium ends at the end of the initial period unless it is extended, or comes to an end sooner, under or by virtue of a provision mentioned in paragraph <ref href="#d28e5098">(3)</ref> or <ref href="#d28e5140">(4)</ref>.</p></content></paragraph><paragraph><num>(2)</num><content><p>In this Chapter “the initial period”, in relation to a moratorium, means the period of 20 business days beginning with the business day after the day on which the moratorium comes into force.</p></content></paragraph><paragraph eId="d28e5098"><num>(3)</num><content><p>For provision under or by virtue of which a moratorium is or may be extended, see—</p><blockList class="unordered none" ukl:Name="UnorderedList" ukl:Decoration="none"><item><p>Article <ref href="#d28e5198">13CA</ref> (extension by directors without creditor consent);</p></item><item><p>Article <ref href="#d28e5277">13CB</ref> (extension by directors with creditor consent);</p></item><item><p>Article <ref href="#d28e5462">13CD</ref> (extension by High Court on application of directors);</p></item><item><p>Article <ref href="#d28e5647">13CE</ref> (extension while proposal for CVA pending);</p></item><item><p>Article <ref href="#d28e5735">13CF</ref> (extension by High Court in course of other proceedings).</p></item></blockList></content></paragraph><paragraph eId="d28e5140"><num>(4)</num><content><p>For provision under or by virtue of which the moratorium is or may be terminated, see—</p><blockList class="unordered none" ukl:Name="UnorderedList" ukl:Decoration="none"><item><p>Article <ref href="#d28e5772">13CG</ref> (termination on entry into insolvency procedure etc);</p></item><item><p>Article <ref href="#d28e7714">13ED</ref> (termination by monitor);</p></item><item><p>Article <ref href="#d28e8013">13F</ref> or <ref href="#d28e8171">13FB</ref> (termination by High Court).</p></item></blockList></content></paragraph><paragraph><num>(5)</num><content><p>A moratorium may not be extended under a provision mentioned in paragraph <ref href="#d28e5098">(3)</ref> once it has come to an end.</p></content></paragraph><paragraph><num>(6)</num><content><p>Where the application of two or more of the provisions mentioned in paragraphs <ref href="#d28e5098">(3)</ref> and <ref href="#d28e5140">(4)</ref> would produce a different length of moratorium, the provision that applies last is to prevail (irrespective of whether that results in a shorter or longer moratorium).</p></content></paragraph></article></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading>Extension of moratorium</heading><article eId="d28e5198"><heading>Extension by directors without creditor consent</heading><num>13CA</num><paragraph eId="d28e5202"><num>(1)</num><intro><p>During the initial period, but after the first 15 business days of that period, the directors may extend the moratorium by filing with the High Court—</p></intro><level class="para1" eId="d28e5208"><num>(a)</num><content><p>a notice that the directors wish to extend the moratorium,</p></content></level><level class="para1" eId="d28e5214"><num>(b)</num><intro><p>a statement from the directors that all of the following that have fallen due have been paid or otherwise discharged—</p></intro><level class="para2"><num>(i)</num><content><p>moratorium debts, and</p></content></level><level class="para2"><num>(ii)</num><content><p>pre-moratorium debts for which the company does not have a payment holiday during the moratorium (see Article <ref href="#d28e6094">13D</ref>),</p></content></level></level><level class="para1" eId="d28e5235"><num>(c)</num><content><p>a statement from the directors that, in their view, the company is, or is likely to become, unable to pay its pre-moratorium debts, and</p></content></level><level class="para1" eId="d28e5241"><num>(d)</num><content><p>a statement from the monitor that, in the monitor’s view, it is likely that the moratorium will result in the rescue of the company as a going concern.</p></content></level></paragraph><paragraph><num>(2)</num><content><p>The rules may make provision about the date on which a statement mentioned in paragraph <ref href="#d28e5202">(1)</ref> must be made.</p></content></paragraph><paragraph><num>(3)</num><intro><p>On the filing with the Court of the documents mentioned in paragraph (1), the moratorium is extended so that it ends at the end of the period—</p></intro><level class="para1"><num>(a)</num><content><p>beginning immediately after the initial period ends, and</p></content></level><level class="para1"><num>(b)</num><content><p>ending with the 20th business day after the initial period ends.</p></content></level></paragraph></article><article eId="d28e5277"><heading>Extension by directors with creditor consent</heading><num>13CB</num><paragraph eId="d28e5281"><num>(1)</num><intro><p>At any time after the first 15 business days of the initial period the directors may, if they have obtained creditor consent, extend the moratorium by filing with the High Court—</p></intro><level class="para1" eId="d28e5287"><num>(a)</num><content><p>a notice that the directors wish to extend the moratorium,</p></content></level><level class="para1" eId="d28e5293"><num>(b)</num><intro><p>a statement from the directors that all of the following that have fallen due have been paid or otherwise discharged—</p></intro><level class="para2"><num>(i)</num><content><p>moratorium debts, and</p></content></level><level class="para2"><num>(ii)</num><content><p>pre-moratorium debts for which the company does not have a payment holiday during the moratorium (see Article <ref href="#d28e6094">13D</ref>),</p></content></level></level><level class="para1" eId="d28e5314"><num>(c)</num><content><p>a statement from the directors that, in their view, the company is, or is likely to become, unable to pay its pre-moratorium debts,</p></content></level><level class="para1" eId="d28e5320"><num>(d)</num><content><p>a statement from the monitor that, in the monitor’s view, it is likely that the moratorium will result in the rescue of the company as a going concern, and</p></content></level><level class="para1" eId="d28e5326"><num>(e)</num><content><p>a statement from the directors that creditor consent has been obtained, and of the revised end date for which that consent was obtained.</p></content></level></paragraph><paragraph><num>(2)</num><content><p>The rules may make provision about the date on which a statement mentioned in paragraph <ref href="#d28e5281">(1)</ref> must be made.</p></content></paragraph><paragraph><num>(3)</num><content><p>On the filing with the Court of the documents mentioned in paragraph <ref href="#d28e5281">(1)</ref>, the moratorium is extended so that it ends with the revised end date mentioned in the statement under paragraph <ref href="#d28e5326">(1)(e)</ref>.</p></content></paragraph><paragraph><num>(4)</num><content><p>A moratorium may be extended under this Article more than once.</p></content></paragraph></article><article eId="d28e5364"><heading>Creditor consent for the purposes of Article <ref href="#d28e5277">13CB</ref></heading><num>13CC</num><paragraph eId="d28e5368"><num>(1)</num><content><p>References in Article <ref href="#d28e5277">13CB</ref> to creditor consent are to the consent of pre-moratorium creditors to a revised end date for the moratorium.</p></content></paragraph><paragraph eId="d28e5377"><num>(2)</num><content><p>The decision as to consent is to be made at a meeting of pre-moratorium creditors.</p></content></paragraph><paragraph><num>(3)</num><intro><p>A meeting under paragraph (2)—</p></intro><level class="para1"><num>(a)</num><content><p>is to be held at such time, date and place as the directors think fit, and</p></content></level><level class="para1"><num>(b)</num><content><p>is to be conducted in accordance with the rules.</p></content></level></paragraph><paragraph eId="d28e5401"><num>(4)</num><content><p>The revised end date must be a date before the end of the period of one year beginning with the first day of the initial period.</p></content></paragraph><paragraph eId="d28e5407"><num>(5)</num><intro><p>In this Article “pre-moratorium creditor” means a creditor in respect of a pre-moratorium debt—</p></intro><level class="para1"><num>(a)</num><content><p>for which the company has a payment holiday during the moratorium (see Article <ref href="#d28e6094">13D</ref>), and</p></content></level><level class="para1"><num>(b)</num><content><p>which has not been paid or otherwise discharged.</p></content></level></paragraph><paragraph eId="d28e5428"><num>(6)</num><content><p>In determining for the purposes of paragraph <ref href="#d28e5407">(5)</ref> what counts as a pre-moratorium debt for which the company has a payment holiday during the moratorium, Articles <ref href="#d28e6094">13D</ref><ref href="#d28e6113">(3)</ref> and <ref href="#d28e9199">13HD</ref><ref href="#d28e9215">(1)(b)</ref> apply as if the references to the moratorium were to the moratorium as proposed to be extended.</p></content></paragraph><paragraph><num>(7)</num><content><p>Regulations may amend this Article for the purposes of changing the definition of “pre-moratorium creditor”.</p></content></paragraph><paragraph><num>(8)</num><content><p>Regulations may not be made under paragraph (7) unless a draft of the regulations has been laid before, and approved by a resolution of, the Assembly.</p></content></paragraph></article><article eId="d28e5462"><heading>Extension by High Court on application of directors</heading><num>13CD</num><paragraph eId="d28e5466"><num>(1)</num><content><p>At any time after the first 15 business days of the initial period, the directors may apply to the High Court for an order that the moratorium be extended.</p></content></paragraph><paragraph eId="d28e5472"><num>(2)</num><intro><p>The application must be accompanied by—</p></intro><level class="para1"><num>(a)</num><intro><p>a statement from the directors that all of the following that have fallen due have been paid or otherwise discharged—</p></intro><level class="para2"><num>(i)</num><content><p>moratorium debts, and</p></content></level><level class="para2"><num>(ii)</num><content><p>pre-moratorium debts for which the company does not have a payment holiday during the moratorium (see Article <ref href="#d28e6094">13D</ref>),</p></content></level></level><level class="para1"><num>(b)</num><content><p>a statement from the directors that, in their view, the company is, or is likely to become, unable to pay its pre-moratorium debts,</p></content></level><level class="para1"><num>(c)</num><content><p>a statement from the directors as to whether pre-moratorium creditors (as defined by Article <ref href="#d28e5364">13CC</ref><ref href="#d28e5407">(5)</ref> and <ref href="#d28e5428">(6)</ref>) have been consulted about the application and if not why not, and</p></content></level><level class="para1" eId="d28e5519"><num>(d)</num><content><p>a statement from the monitor that, in the monitor’s view, it is likely that the moratorium will result in the rescue of the company as a going concern.</p></content></level></paragraph><paragraph><num>(3)</num><content><p>The rules may make provision about the date on which a statement mentioned in paragraph <ref href="#d28e5472">(2)</ref> must be made.</p></content></paragraph><paragraph eId="d28e5534"><num>(4)</num><intro><p>On hearing the application the Court may—</p></intro><level class="para1" eId="d28e5540"><num>(a)</num><content><p>make an order that the moratorium be extended to such date as is specified in the order, or</p></content></level><level class="para1"><num>(b)</num><content><p>make any other order which the Court thinks appropriate.</p></content></level></paragraph><paragraph><num>(5)</num><intro><p>In deciding whether to make an order under paragraph <ref href="#d28e5540">(4)(a)</ref> the Court must, in particular, consider the following—</p></intro><level class="para1"><num>(a)</num><content><p>the interests of pre-moratorium creditors, as defined by Article <ref href="#d28e5364">13CC</ref><ref href="#d28e5407">(5)</ref> and <ref href="#d28e5428">(6)</ref>, and</p></content></level><level class="para1"><num>(b)</num><content><p>the likelihood that the extension of the moratorium will result in the rescue of the company as a going concern.</p></content></level></paragraph><paragraph><num>(6)</num><intro><p>Paragraph <ref href="#d28e5602">(7)</ref> applies where—</p></intro><level class="para1"><num>(a)</num><content><p>an application under this Article is made, and</p></content></level><level class="para1" eId="d28e5596"><num>(b)</num><content><p>apart from that paragraph, the moratorium would end at a time before the application has been disposed of.</p></content></level></paragraph><paragraph eId="d28e5602"><num>(7)</num><intro><p>The moratorium—</p></intro><level class="para1" eId="d28e5608"><num>(a)</num><content><p>does not end at the time mentioned in paragraph <ref href="#d28e5596">(6)(b)</ref>, and</p></content></level><level class="para1" eId="d28e5617"><num>(b)</num><intro><p>instead, ends—</p></intro><level class="para2" eId="d28e5623"><num>(i)</num><content><p>in a case in which the Court makes an order under paragraph <ref href="#d28e5540">(4)(a)</ref>, in accordance with the order;</p></content></level><level class="para2" eId="d28e5632"><num>(ii)</num><content><p>otherwise, when the application is withdrawn or disposed of.</p></content></level></level></paragraph><paragraph><num>(8)</num><content><p>A moratorium may be extended under this Article more than once.</p></content></paragraph></article><article eId="d28e5647"><heading>Extension while proposal for CVA pending</heading><num>13CE</num><paragraph><num>(1)</num><intro><p>Paragraph <ref href="#d28e5672">(2)</ref> applies where—</p></intro><level class="para1"><num>(a)</num><content><p>at any time, the directors make a proposal under Part 2 (company voluntary arrangements), and</p></content></level><level class="para1"><num>(b)</num><content><p>apart from that paragraph, the moratorium would end at a time before the proposal is disposed of.</p></content></level></paragraph><paragraph eId="d28e5672"><num>(2)</num><intro><p>The moratorium—</p></intro><level class="para1" eId="d28e5678"><num>(a)</num><content><p>does not end at the time mentioned in paragraph (1)(b), and</p></content></level><level class="para1" eId="d28e5684"><num>(b)</num><content><p>instead, ends when the proposal is disposed of.</p></content></level></paragraph><paragraph><num>(3)</num><intro><p>For the purposes of this Article a proposal under Part 2 is “disposed of” when any of the following takes place—</p></intro><level class="para1"><num>(a)</num><content><p>the company and its creditors both decide under Article 17 not to approve the voluntary arrangement contained in the proposal;</p></content></level><level class="para1"><num>(b)</num><intro><p>the decisions taken by the company and its creditors under Article 17 differ, and—</p></intro><level class="para2"><num>(i)</num><content><p>the period for making an application under Article 17A(3) expires and either no application has been made within that period or any application made within that period has been withdrawn, or</p></content></level><level class="para2"><num>(ii)</num><content><p>an application is made under Article 17A(3) and that application is disposed of, or it is withdrawn after the expiry of the period for making an application under Article 17A(3);</p></content></level></level><level class="para1"><num>(c)</num><content><p>the voluntary arrangement contained in the proposal takes effect under Article 18;</p></content></level><level class="para1"><num>(d)</num><content><p>the proposal is withdrawn.</p></content></level></paragraph></article><article eId="d28e5735"><heading>Extension by High Court in the course of other proceedings</heading><num>13CF</num><paragraph><num>(1)</num><intro><p>Paragraph <ref href="#d28e5760">(2)</ref> applies where—</p></intro><level class="para1"><num>(a)</num><content><p>an application is made under section 896 or 901C(1) of the Companies Act 2006 (arrangements and reconstructions: court order for holding of meeting) in respect of a company, and</p></content></level><level class="para1"><num>(b)</num><content><p>during proceedings before the High Court in connection with the application, a moratorium for the company is in force.</p></content></level></paragraph><paragraph eId="d28e5760"><num>(2)</num><content><p>The High Court may make an order that the moratorium be extended to such date as is specified in the order.</p></content></paragraph></article></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading>Early termination on certain grounds</heading><article eId="d28e5772"><heading>Company enters into insolvency procedure etc</heading><num>13CG</num><paragraph><num>(1)</num><intro><p>A moratorium comes to an end at any time at which the company—</p></intro><level class="para1"><num>(a)</num><content><p>enters into a compromise or arrangement (see paragraph (2)), or</p></content></level><level class="para1"><num>(b)</num><content><p>enters into a relevant insolvency procedure (see paragraph (3)).</p></content></level></paragraph><paragraph><num>(2)</num><content><p>For the purposes of this Article a company enters into a compromise or arrangement if an order under section 899 or 901F of the Companies Act 2006 (court sanction for compromise or arrangement) comes into effect in relation to the company.</p></content></paragraph><paragraph><num>(3)</num><intro><p>For the purposes of this Article a company enters into a relevant insolvency procedure if—</p></intro><level class="para1"><num>(a)</num><content><p>a voluntary arrangement takes effect under Article 18 in relation to the company,</p></content></level><level class="para1"><num>(b)</num><content><p>the company enters administration (within the meaning of Schedule B1 (see paragraph 2(2)(b) of that Schedule)),</p></content></level><level class="para1"><num>(c)</num><content><p>paragraph 45 of Schedule B1 (administration: interim moratorium) begins to apply in relation to the company, or</p></content></level><level class="para1"><num>(d)</num><content><p>the company goes into liquidation (see Article 6).</p></content></level></paragraph></article></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading>Obligations to notify change in end of moratorium</heading><article eId="d28e5836"><heading>Obligations to notify change in end of moratorium</heading><num>13CH</num><paragraph eId="d28e5840"><num>(1)</num><content><p>The table imposes obligations on the directors of a company to notify the monitor where a moratorium for the company is extended or comes to an end.</p><tblock class="table" ukl:Orientation="portrait"><foreign><default:table xmlns="http://www.w3.org/1999/xhtml"><default:col span="1" style="width:7%"/><default:col span="1" style="width:37%"/><default:col span="1" style="width:56%"/><default:thead><default:tr><default:th xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"/><default:th xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Where a moratorium is extended or comes to an end under or by virtue of the following provision</p></default:th><default:th xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">the directors must </p></default:th></default:tr></default:thead><default:tbody><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-top-style="solid" fo:border-top-width="0.5pt" fo:border-top-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black" fo:border-top-style="solid" fo:border-top-width="0.5pt" fo:border-top-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Article <ref href="#d28e5198">13CA</ref></p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black" fo:border-top-style="solid" fo:border-top-width="0.5pt" fo:border-top-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Notify the monitor of the extension.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Article <ref href="#d28e5277">13CB</ref></p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Notify the monitor of the extension and of the revised end date.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">3</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Article <ref href="#d28e5462">13CD</ref><ref href="#d28e5534">(4)</ref></p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Notify the monitor of the extension and provide the monitor with the court order under Article <ref href="#d28e5462">13CD</ref><ref href="#d28e5534">(4)</ref>.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">4</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Article <ref href="#d28e5462">13CD</ref><ref href="#d28e5608">(7)(a)</ref></p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Notify the monitor of the extension.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">5</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Article <ref href="#d28e5462">13CD</ref><ref href="#d28e5632">(7)(b)(ii)</ref></p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Notify the monitor that the moratorium has come to an end and of the date that it ended.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">6</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Article <ref href="#d28e5647">13CE</ref><ref href="#d28e5678">(2)(a)</ref></p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Notify the monitor of the extension.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">7</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Article <ref href="#d28e5647">13CE</ref><ref href="#d28e5684">(2)(b)</ref></p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Notify the monitor that the moratorium has come to an end and of the date that it ended.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">8</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Article <ref href="#d28e5735">13CF</ref></p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Notify the monitor of the extension and provide the monitor with any court order under Article <ref href="#d28e5735">13CF</ref>.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">9</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Article <ref href="#d28e5772">13CG</ref></p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Notify the monitor that the moratorium has come to an end.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">10</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Article <ref href="#d28e8013">13F</ref></p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Notify the monitor that the moratorium has come to an end and provide the monitor with the court order under Article <ref href="#d28e8013">13F</ref>.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">11</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Article <ref href="#d28e8171">13FB</ref></p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Notify the monitor that the moratorium has come to an end and provide the monitor with the court order under Article <ref href="#d28e8171">13FB</ref>.</p></default:td></default:tr></default:tbody></default:table></foreign></tblock></content></paragraph><paragraph eId="d28e5982"><num>(2)</num><content><p>After receiving a notice under paragraph <ref href="#d28e5840">(1)</ref>, other than a notice under entry 4 or 6 of the table, the monitor must notify the relevant persons of when the moratorium ended or, subject to any alteration under or by virtue of any of the provisions mentioned in Article <ref href="#d28e5076">13C</ref><ref href="#d28e5098">(3)</ref> or <ref href="#d28e5140">(4)</ref>, the moratorium will come to an end.</p></content></paragraph><paragraph eId="d28e5999"><num>(3)</num><content><p>After receiving a notice under entry 4 or 6 of the table, the monitor must notify the relevant persons.</p></content></paragraph><paragraph eId="d28e6005"><num>(4)</num><content><p>If a moratorium comes to an end under Article <ref href="#d28e7714">13ED</ref> (termination by monitor), the monitor must notify the company and the relevant persons of when the moratorium ended.</p></content></paragraph><paragraph eId="d28e6014"><num>(5)</num><intro><p>The rules may—</p></intro><level class="para1"><num>(a)</num><content><p>make further provision about the timing of a notice required to be given under this Article;</p></content></level><level class="para1"><num>(b)</num><content><p>require a notice to be accompanied by other documents.</p></content></level></paragraph><paragraph eId="d28e6032"><num>(6)</num><content><p>If the directors fail to comply with paragraph <ref href="#d28e5840">(1)</ref>, any director who did not have a reasonable excuse for the failure commits an offence.</p></content></paragraph><paragraph eId="d28e6041"><num>(7)</num><content><p>If the monitor without reasonable excuse fails to comply with any of paragraphs <ref href="#d28e5982">(2)</ref> to <ref href="#d28e6005">(4)</ref>, the monitor commits an offence.</p></content></paragraph><paragraph><num>(8)</num><intro><p>In this Article “the relevant persons” means—</p></intro><level class="para1" eId="d28e6059"><num>(a)</num><content><p>the registrar,</p></content></level><level class="para1" eId="d28e6065"><num>(b)</num><content><p>every creditor of the company of whose claim the monitor is aware,</p></content></level><level class="para1"><num>(c)</num><content><p>in a case where the company is or has been an employer in respect of an occupational pension scheme that is not a money purchase scheme, the Pensions Regulator, and</p></content></level><level class="para1"><num>(d)</num><content><p>in a case where the company is an employer in respect of such a pension scheme that is an eligible scheme within the meaning given by Article 110 of the Pensions (Northern Ireland) Order 2005, the Board of the Pension Protection Fund.</p></content></level></paragraph></article></hcontainer></chapter><chapter><num>CHAPTER 4</num><heading>Effects of moratorium</heading><hcontainer name="crossheading" ukl:Name="Pblock"><heading>Introductory</heading><article eId="d28e6094"><heading>Overview and construction of references to payment holidays</heading><num>13D</num><paragraph eId="d28e6098"><num>(1)</num><content><p>This Chapter makes provision about the main effects of a moratorium for a company.</p></content></paragraph><paragraph eId="d28e6104"><num>(2)</num><content><p>The provision made by this Chapter includes restrictions on the enforcement or payment of the debts that are defined by paragraph <ref href="#d28e6113">(3)</ref> as pre-moratorium debts for which a company has a payment holiday during a moratorium.</p></content></paragraph><paragraph eId="d28e6113"><num>(3)</num><intro><p>In this Part a reference to pre-moratorium debts for which a company has a payment holiday during a moratorium is to its pre-moratorium debts that have fallen due before the moratorium, or that fall due during the moratorium, except in so far as they consist of amounts payable in respect of—</p></intro><level class="para1"><num>(a)</num><content><p>the monitor’s remuneration or expenses,</p></content></level><level class="para1" eId="d28e6125"><num>(b)</num><content><p>goods or services supplied during the moratorium,</p></content></level><level class="para1"><num>(c)</num><content><p>rent in respect of a period during the moratorium,</p></content></level><level class="para1"><num>(d)</num><content><p>wages or salary arising under a contract of employment,</p></content></level><level class="para1"><num>(e)</num><content><p>redundancy payments, or</p></content></level><level class="para1"><num>(f)</num><content><p>debts or other liabilities arising under a contract or other instrument involving financial services.</p></content></level></paragraph><paragraph><num>(4)</num><content><p>The rules may make provision as to what is, or is not, to count as the supply of goods or services for the purposes of paragraph <ref href="#d28e6125">(3)(b)</ref>.</p></content></paragraph><paragraph eId="d28e6164"><num>(5)</num><content><p>Regulations may amend this Article for the purposes of changing the list in paragraph <ref href="#d28e6113">(3)</ref>.</p></content></paragraph><paragraph><num>(6)</num><content><p>Regulations may not be made under paragraph <ref href="#d28e6164">(5)</ref> unless a draft of the regulations has been laid before, and approved by a resolution of, the Assembly.</p></content></paragraph><paragraph><num>(7)</num><intro><p>In this Article—</p></intro><hcontainer name="definition"><content><p>“contract or other instrument involving financial services” has the meaning given by Schedule ZA2;</p></content></hcontainer><hcontainer name="definition"><content><p>“monitor’s remuneration or expenses” does not include remuneration in respect of anything done by a proposed monitor before the moratorium begins;</p></content></hcontainer><hcontainer name="definition"><intro><p>“redundancy payment” means—</p></intro><level class="para1"><num>(a)</num><content><p>a redundancy payment under Part 11 of the Employment Rights Act 1996 or Part 12 of the Employment Rights (Northern Ireland) Order 1996, or</p></content></level><level class="para1"><num>(b)</num><content><p>a payment made to a person who agrees to the termination of their employment in circumstances where they would have been entitled to a redundancy payment under that Part if dismissed;</p></content></level></hcontainer><hcontainer name="definition"><intro><p>“wages or salary” includes—</p></intro><level class="para1"><num>(a)</num><content><p>a sum payable in respect of a period of holiday (for which purpose the sum is to be treated as relating to the period by reference to which the entitlement to holiday accrued),</p></content></level><level class="para1"><num>(b)</num><content><p>a sum payable in respect of a period of absence through illness or other good cause,</p></content></level><level class="para1"><num>(c)</num><content><p>a sum payable in lieu of holiday, and</p></content></level><level class="para1"><num>(d)</num><content><p>a contribution to an occupational pension scheme.</p></content></level></hcontainer></paragraph></article></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading>Publicity about moratorium</heading><article eId="d28e6237"><heading>Publicity about moratorium</heading><num>13DA</num><paragraph><num>(1)</num><intro><p>During a moratorium, the company must, in any premises—</p></intro><level class="para1"><num>(a)</num><content><p>where business of the company is carried on, and</p></content></level><level class="para1"><num>(b)</num><content><p>to which customers of the company or suppliers of goods or services to the company have access,</p></content></level><wrapUp><p>display, in a prominent position so that it may easily be read by such customers or suppliers, a notice containing the required information.</p></wrapUp></paragraph><paragraph eId="d28e6261"><num>(2)</num><content><p>During a moratorium, any websites of the company must state the required information.</p></content></paragraph><paragraph eId="d28e6267"><num>(3)</num><content><p>During a moratorium, every business document issued by or on behalf of the company must state the required information.</p></content></paragraph><paragraph><num>(4)</num><content><p>For the purposes of paragraphs <ref href="#d28e7253">(1)</ref>, <ref href="#d28e6261">(2)</ref> and <ref href="#d28e6267">(3)</ref>, “the required information” is—</p></content></paragraph><level class="para1"><num>(a)</num><content><p>that a moratorium is in force in relation to the company, and</p></content></level><level class="para1"><num>(b)</num><content><p>the name of the monitor.</p></content></level><paragraph eId="d28e6300"><num>(5)</num><intro><p>If paragraph <ref href="#d28e7253">(1)</ref>, <ref href="#d28e6261">(2)</ref> or <ref href="#d28e6267">(3)</ref> is contravened—</p></intro><level class="para1"><num>(a)</num><content><p>the company commits an offence, and</p></content></level><level class="para1"><num>(b)</num><content><p>any officer of the company who without reasonable excuse authorised or permitted the contravention commits an offence.</p></content></level></paragraph><paragraph><num>(6)</num><intro><p>In this Article “business document” means—</p></intro><level class="para1"><num>(a)</num><content><p>an invoice,</p></content></level><level class="para1"><num>(b)</num><content><p>an order for goods or services,</p></content></level><level class="para1"><num>(c)</num><content><p>a business letter, and</p></content></level><level class="para1"><num>(d)</num><content><p>an order form,</p></content></level><wrapUp><p>whether in hard copy, electronic or any other form.</p></wrapUp></paragraph></article></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading>Effect on creditors etc</heading><article><heading>Restrictions on insolvency proceedings etc</heading><num>13DB</num><paragraph><num>(1)</num><intro><p>During a moratorium—</p></intro><level class="para1" eId="d28e6375"><num>(a)</num><content><p>no petition may be presented for the winding up of the company, except by the directors,</p></content></level><level class="para1" eId="d28e6381"><num>(b)</num><content><p>no resolution may be passed for the voluntary winding up of the company under Article 70(1)(a),</p></content></level><level class="para1"><num>(c)</num><content><p>a resolution for the voluntary winding up of the company under Article 70(1)(b) may be passed only if the resolution is recommended by the directors,</p></content></level><level class="para1" eId="d28e6393"><num>(d)</num><content><p>no order may be made for the winding up of the company, except on a petition by the directors,</p></content></level><level class="para1"><num>(e)</num><content><p>no administration application may be made in respect of the company, except by the directors,</p></content></level><level class="para1"><num>(f)</num><content><p>no notice of intention to appoint an administrator of the company under paragraph 15 or 23(1) of Schedule B1 may be filed with the High Court,</p></content></level><level class="para1"><num>(g)</num><content><p>no administrator of the company may be appointed under paragraph 15 or 23(1) of Schedule B1, and</p></content></level><level class="para1"><num>(h)</num><content><p>no administrative receiver of the company may be appointed.</p></content></level></paragraph><paragraph><num>(2)</num><content><p>Paragraph <ref href="#d28e6375">(1)(a)</ref> does not apply to an excepted petition; and paragraph <ref href="#d28e6393">(1)(d)</ref> does not apply to an order on an excepted petition.</p></content></paragraph><paragraph><num>(3)</num><intro><p>For these purposes, “excepted petition” means a petition under—</p></intro><level class="para1"><num>(a)</num><content><p>Article 104A, 104B or 104C, or</p></content></level><level class="para1"><num>(b)</num><content><p>section 367 of the Financial Services and Markets Act 2000 on the ground mentioned in subsection (3)(b) of that section.</p></content></level></paragraph></article><article eId="d28e6456"><heading>Restrictions on enforcement and legal proceedings</heading><num>13DC</num><paragraph eId="d28e6460"><num>(1)</num><intro><p>During a moratorium—</p></intro><level class="para1"><num>(a)</num><content><p>a landlord or other person to whom rent is payable may not exercise a right of forfeiture by peaceable re-entry in relation to premises let to the company, except with the permission of the High Court,</p></content></level><level class="para1" eId="d28e6472"><num>(b)</num><intro><p>no steps may be taken to enforce any security over the company’s property except—</p></intro><level class="para2" eId="d28e6478"><num>(i)</num><content><p>steps to enforce a collateral security charge (within the meaning of the Financial Markets and Insolvency (Settlement Finality) Regulations 1999 (<ref eId="c00011" href="http://www.legislation.gov.uk/id/uksi/1999/2979">S.I. 1999/2979</ref>)),</p></content></level><level class="para2"><num>(ii)</num><content><p>steps to enforce security created or otherwise arising under a financial collateral arrangement (within the meaning of regulation 3 of the Financial Collateral Arrangements (No. 2) Regulations 2003 (<ref eId="c00012" href="http://www.legislation.gov.uk/id/uksi/2003/3226">S.I. 2003/3226</ref>)), or</p></content></level><level class="para2" eId="d28e6496"><num>(iii)</num><content><p>steps taken with the permission of the High Court,</p></content></level></level><level class="para1" eId="d28e6502"><num>(c)</num><content><p>no steps may be taken to repossess goods in the company’s possession under any hire-purchase agreement, except with the permission of the High Court, and</p></content></level><level class="para1" eId="d28e6508"><num>(d)</num><intro><p>no legal process (including legal proceedings, enforcement and distress) may be instituted, carried out or continued against the company or its property except—</p></intro><level class="para2" eId="d28e6514"><num>(i)</num><content><p>employment tribunal proceedings or any legal process arising out of such proceedings,</p></content></level><level class="para2"><num>(ii)</num><content><p>proceedings, not within paragraph <ref href="#d28e6514">(i)</ref>, involving a claim between an employer and a worker, or</p></content></level><level class="para2"><num>(iii)</num><content><p>a legal process instituted, carried out or continued with the permission of the High Court.</p></content></level></level></paragraph><paragraph><num>(2)</num><content><p>An application may not be made for permission under paragraph (1) for the purposes of enforcing a pre-moratorium debt for which the company has a payment holiday during the moratorium.</p></content></paragraph><paragraph><num>(3)</num><intro><p>An application may not be made for permission under paragraph <ref href="#d28e6472">(1)(b)</ref>, <ref href="#d28e6502">(c)</ref> or <ref href="#d28e6508">(d)</ref> with a view to obtaining—</p></intro><level class="para1"><num>(a)</num><content><p>the crystallisation of a floating charge, or</p></content></level><level class="para1"><num>(b)</num><content><p>the imposition, by virtue of provision in an instrument creating a floating charge, of any restriction on the disposal of any property of the company.</p></content></level></paragraph><paragraph><num>(4)</num><content><p>Permission of the High Court under paragraph <ref href="#d28e6460">(1)</ref> may be given subject to conditions.</p></content></paragraph><paragraph><num>(5)</num><content><p>Paragraph (1)(b)(iii) is subject to Article 13DE(1).</p></content></paragraph><paragraph><num>(6)</num><intro><p>In this Article—</p></intro><hcontainer name="definition"><content><p>“agency worker” has the meaning given by Article 15(2) of the Employment Relations (Northern Ireland) Order 1999;</p></content></hcontainer><hcontainer name="definition"><intro><p>“employer”—</p></intro><level class="para1"><num>(a)</num><content><p>in relation to an agency worker, has the meaning given by Article 15(2) of the Employment Relations (Northern Ireland) Order 1999;</p></content></level><level class="para1"><num>(b)</num><content><p>otherwise, has the meaning given by Article 3(4) of the Employment Rights (Northern Ireland) Order 1996;</p></content></level></hcontainer><hcontainer name="definition"><intro><p>“worker” means an individual who is—</p></intro><level class="para1"><num>(a)</num><content><p>a worker within the meaning of Article 3(3) of the Employment Rights (Northern Ireland) Order 1996, or</p></content></level><level class="para1"><num>(b)</num><content><p>an agency worker.</p></content></level></hcontainer></paragraph></article><article><heading>Floating charges</heading><num>13DD</num><paragraph><num>(1)</num><content><p>This Article applies where there is an uncrystallised floating charge on the property of a company for which a moratorium is in force.</p></content></paragraph><paragraph eId="d28e6633"><num>(2)</num><intro><p>During the moratorium, the holder of the floating charge may not give any notice which would have the effect of—</p></intro><level class="para1" eId="d28e6639"><num>(a)</num><content><p>causing the floating charge to crystallise, or</p></content></level><level class="para1" eId="d28e6645"><num>(b)</num><content><p>causing the imposition, by virtue of provision in the instrument creating the charge, of any restriction on the disposal of property of the company.</p></content></level></paragraph><paragraph eId="d28e6651"><num>(3)</num><content><p>No other event occurring during the moratorium is to have the effect mentioned in paragraph <ref href="#d28e6639">(2)(a)</ref> or <ref href="#d28e6645">(b)</ref>.</p></content></paragraph><paragraph><num>(4)</num><intro><p>Paragraph <ref href="#d28e6687">(5)</ref> applies where—</p></intro><level class="para1"><num>(a)</num><content><p>the holder of a floating charge (“the chargee”) is prevented by paragraph (2) from giving a notice mentioned there during the moratorium, and</p></content></level><level class="para1"><num>(b)</num><content><p>under the terms of the floating charge, the time for giving such a notice ends during the moratorium or before the chargee is given notice of the end of the moratorium under Article <ref href="#d28e5836">13CH</ref>.</p></content></level></paragraph><paragraph eId="d28e6687"><num>(5)</num><intro><p>The chargee may give notice later than is required under the terms of the floating charge, but only if the chargee does so as soon as is practicable after—</p></intro><level class="para1"><num>(a)</num><content><p>the end of the moratorium, or</p></content></level><level class="para1"><num>(b)</num><content><p>if later, the day on which the chargee is notified of the end of the moratorium.</p></content></level></paragraph><paragraph><num>(6)</num><intro><p>Where—</p></intro><level class="para1"><num>(a)</num><content><p>paragraph <ref href="#d28e6651">(3)</ref> prevents an event which occurs during the moratorium from having the effect mentioned there, and</p></content></level><level class="para1"><num>(b)</num><intro><p>the holder of the floating charge gives notice of the event to the company as soon as is practicable after—</p></intro><level class="para2"><num>(i)</num><content><p>the end of the moratorium, or</p></content></level><level class="para2"><num>(ii)</num><content><p>if later, the day on which the chargee is notified of the end of the moratorium,</p></content></level></level><wrapUp><p>the event is to be treated as if it had occurred when the notice was given.</p></wrapUp></paragraph><paragraph><num>(7)</num><intro><p>This Article does not apply in relation to a floating charge that is—</p></intro><level class="para1"><num>(a)</num><content><p>a collateral security (as defined by Article <ref href="#d28e7010">13DI</ref>);</p></content></level><level class="para1"><num>(b)</num><content><p>a market charge (as defined by Article <ref href="#d28e7010">13DI</ref>);</p></content></level><level class="para1"><num>(c)</num><content><p>a security financial collateral arrangement (within the meaning of regulation 3 of the Financial Collateral Arrangements (No. 2) Regulations 2003 (<ref eId="c00013" href="http://www.legislation.gov.uk/id/uksi/2003/3226">S.I. 2003/3226</ref>));</p></content></level><level class="para1"><num>(d)</num><content><p>a system-charge (as defined by Article <ref href="#d28e7010">13DI</ref>).</p></content></level></paragraph></article><article eId="d28e6785"><heading>Enforcement of security granted during moratorium</heading><num>13DE</num><paragraph eId="d28e6789"><num>(1)</num><content><p>Security granted by a company during a moratorium in relation to the company may be enforced only if the monitor consented to the grant of security under Article <ref href="#d28e6937">13DH</ref>.</p></content></paragraph><paragraph><num>(2)</num><content><p>See also Article <ref href="#d28e6456">13DC</ref><ref href="#d28e6472">(1)(b)</ref>, which restricts enforcement during a moratorium.</p></content></paragraph></article></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading>Notification of insolvency proceedings</heading><article><heading>Duty of directors to notify monitor of insolvency proceedings etc</heading><num>13DF</num><paragraph eId="d28e6819"><num>(1)</num><intro><p>The directors of a company must notify the monitor before taking any of the following steps during a moratorium—</p></intro><level class="para1"><num>(a)</num><content><p>presenting a petition for the winding up of the company;</p></content></level><level class="para1"><num>(b)</num><content><p>making an administration application in respect of the company;</p></content></level><level class="para1"><num>(c)</num><content><p>appointing an administrator under paragraph 23(2) of Schedule B1.</p></content></level></paragraph><paragraph eId="d28e6843"><num>(2)</num><content><p>The directors of a company must notify the monitor if, during a moratorium for the company, they recommend that the company passes a resolution for voluntary winding up under Article 70(1)(b).</p></content></paragraph><paragraph><num>(3)</num><content><p>The rules may make provision about the timing of a notice required to be given under paragraph <ref href="#d28e6819">(1)</ref> or <ref href="#d28e6843">(2)</ref>.</p></content></paragraph><paragraph eId="d28e6861"><num>(4)</num><content><p>If the directors fail to comply with paragraph <ref href="#d28e6819">(1)</ref> or <ref href="#d28e6843">(2)</ref>, any director who did not have a reasonable excuse for the failure commits an offence.</p></content></paragraph></article></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading>Restrictions on transactions</heading><article eId="d28e6879"><heading>Restrictions on obtaining credit</heading><num>13DG</num><paragraph eId="d28e6883"><num>(1)</num><content><p>During a moratorium, the company may not obtain credit to the extent of £500 or more from a person unless the person has been informed that a moratorium is in force in relation to the company.</p></content></paragraph><paragraph><num>(2)</num><intro><p>The reference to the company obtaining credit includes—</p></intro><level class="para1"><num>(a)</num><content><p>the company entering into a conditional sale agreement in accordance with which goods are to be sold to the company,</p></content></level><level class="para1"><num>(b)</num><content><p>the company entering into any other form of hire-purchase agreement under which goods are to be bailed to the company, and</p></content></level><level class="para1"><num>(c)</num><content><p>the company being paid in advance (whether in money or otherwise) for the supply of goods or services.</p></content></level></paragraph><paragraph eId="d28e6913"><num>(3)</num><intro><p>If a company contravenes paragraph <ref href="#d28e7253">(1)</ref>—</p></intro><level class="para1" eId="d28e6922"><num>(a)</num><content><p>the company commits an offence, and</p></content></level><level class="para1" eId="d28e6928"><num>(b)</num><content><p>any officer of the company who without reasonable excuse authorised or permitted the obtaining of the credit commits an offence.</p></content></level></paragraph></article><article eId="d28e6937"><heading>Restrictions on grant of security etc</heading><num>13DH</num><paragraph eId="d28e6941"><num>(1)</num><content><p>During a moratorium, the company may grant security over its property only if the monitor consents.</p></content></paragraph><paragraph><num>(2)</num><content><p>The monitor may give consent under paragraph <ref href="#d28e6941">(1)</ref> only if the monitor thinks that the grant of security will support the rescue of the company as a going concern.</p></content></paragraph><paragraph><num>(3)</num><content><p>In deciding whether to give consent under paragraph <ref href="#d28e6941">(1)</ref>, the monitor is entitled to rely on information provided by the company unless the monitor has reason to doubt its accuracy.</p></content></paragraph><paragraph eId="d28e6965"><num>(4)</num><intro><p>If the company grants security over its property during the moratorium otherwise than as authorised by paragraph <ref href="#d28e7253">(1)</ref>—</p></intro><level class="para1" eId="d28e6974"><num>(a)</num><content><p>the company commits an offence, and</p></content></level><level class="para1" eId="d28e6980"><num>(b)</num><content><p>any officer of the company who without reasonable excuse authorised or permitted the grant of the security commits an offence.</p></content></level></paragraph><paragraph><num>(5)</num><content><p>For the consequences of a company granting security over its property in contravention of paragraph <ref href="#d28e7253">(1)</ref>, see also Article <ref href="#d28e6785">13DE</ref>.</p></content></paragraph><paragraph><num>(6)</num><content><p>The monitor may not give consent under this Article if the granting of security is an offence under Article <ref href="#d28e7010">13DI</ref>.</p></content></paragraph></article><article eId="d28e7010"><heading>Prohibition on entering into market contracts etc</heading><num>13DI</num><paragraph eId="d28e7014"><num>(1)</num><intro><p>If a company enters into a transaction to which this Article applies during a moratorium for the company—</p></intro><level class="para1" eId="d28e7020"><num>(a)</num><content><p>the company commits an offence, and</p></content></level><level class="para1" eId="d28e7026"><num>(b)</num><content><p>any officer of the company who without reasonable excuse authorised or permitted the company to enter into the transaction commits an offence.</p></content></level></paragraph><paragraph><num>(2)</num><intro><p>A company enters into a transaction to which this Article applies if it—</p></intro><level class="para1"><num>(a)</num><content><p>enters into a market contract,</p></content></level><level class="para1"><num>(b)</num><content><p>enters into a financial collateral arrangement,</p></content></level><level class="para1"><num>(c)</num><content><p>gives a transfer order,</p></content></level><level class="para1"><num>(d)</num><content><p>grants a market charge or a system-charge, or</p></content></level><level class="para1"><num>(e)</num><content><p>provides any collateral security.</p></content></level></paragraph><paragraph><num>(3)</num><content><p>Where during the moratorium a company enters into a transaction to which this Article applies, nothing done by or in pursuance of the transaction is to be treated as done in contravention of any of Articles <ref href="#d28e6237">13DA</ref>, <ref href="#d28e6456">13DC</ref>, <ref href="#d28e6879">13DG</ref>, <ref href="#d28e6937">13DH</ref> and <ref href="#d28e7142">13DJ</ref> to <ref href="#d28e7526">13DN</ref>.</p></content></paragraph><paragraph><num>(4)</num><intro><p>In this Article—</p></intro><hcontainer name="definition"><content><p>“collateral security” has the same meaning as in the Financial Markets and Insolvency (Settlement Finality) Regulations 1999 (<ref eId="c00014" href="http://www.legislation.gov.uk/id/uksi/1999/2979">S.I. 1999/2979</ref>);</p></content></hcontainer><hcontainer name="definition"><content><p>“financial collateral arrangement” has the same meaning as in the Financial Collateral Arrangements (No. 2) Regulations 2003 (<ref eId="c00015" href="http://www.legislation.gov.uk/id/uksi/2003/3226">S.I. 2003/3226</ref>);</p></content></hcontainer><hcontainer name="definition"><content><p>“market charge” has the same meaning as in Part 5 of the Companies (No. 2) (Northern Ireland) Order 1990;</p></content></hcontainer><hcontainer name="definition"><content><p>“market contract” has the same meaning as in Part 5 of the Companies (No. 2) (Northern Ireland) Order 1990;</p></content></hcontainer><hcontainer name="definition"><content><p>“system-charge” has the meaning given by the Financial Markets and Insolvency Regulations (Northern Ireland) 1996 (<ref eId="c00016" href="http://www.legislation.gov.uk/id/nisr/1996/252">S.R. 1996/252</ref>);</p></content></hcontainer><hcontainer name="definition"><content><p>“transfer order” has the same meaning as in the Financial Markets and Insolvency (Settlement Finality) Regulations 1999 (<ref eId="c00017" href="http://www.legislation.gov.uk/id/uksi/1999/2979">S.I. 1999/2979</ref>).</p></content></hcontainer></paragraph></article></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading>Restrictions on payments and disposal of property</heading><article eId="d28e7142"><heading>Restrictions on payment of certain pre-moratorium debts</heading><num>13DJ</num><paragraph eId="d28e7146"><num>(1)</num><intro><p>During a moratorium, the company may make one or more relevant payments to a person that (in total) exceed the specified maximum amount only if—</p></intro><level class="para1" eId="d28e7152"><num>(a)</num><content><p>the monitor consents,</p></content></level><level class="para1"><num>(b)</num><content><p>the payment is in pursuance of a court order, or</p></content></level><level class="para1" eId="d28e7164"><num>(c)</num><content><p>the payment is required by Article <ref href="#d28e7405">13DM</ref><ref href="#d28e7424">(3)</ref> or <ref href="#d28e7526">13DN</ref><ref href="#d28e7545">(3)</ref>.</p></content></level></paragraph><paragraph eId="d28e7180"><num>(2)</num><intro><p>In paragraph (1)—</p></intro><hcontainer name="definition"><content><p>“relevant payments” means payments in respect of pre-moratorium debts for which the company has a payment holiday during the moratorium (see Article <ref href="#d28e6094">13D</ref>);</p></content></hcontainer><hcontainer name="definition"><intro><p>“specified maximum amount” means an amount equal to the greater of—</p></intro><level class="para1"><num>(a)</num><content><p>£5000, and</p></content></level><level class="para1"><num>(b)</num><content><p>1% of the value of the debts and other liabilities owed by the company to its unsecured creditors when the moratorium began, to the extent that the amount of such debts and liabilities can be ascertained at that time.</p></content></level></hcontainer></paragraph><paragraph><num>(3)</num><content><p>The monitor may give consent under paragraph <ref href="#d28e7152">(1)(a)</ref> only if the monitor thinks that it will support the rescue of the company as a going concern.</p></content></paragraph><paragraph><num>(4)</num><content><p>In deciding whether to give consent under paragraph <ref href="#d28e7152">(1)(a)</ref>, the monitor is entitled to rely on information provided by the company unless the monitor has reason to doubt its accuracy.</p></content></paragraph><paragraph eId="d28e7225"><num>(5)</num><intro><p>If the company makes a payment to which paragraph <ref href="#d28e7253">(1)</ref> applies otherwise than as authorised by that paragraph—</p></intro><level class="para1" eId="d28e7234"><num>(a)</num><content><p>the company commits an offence, and</p></content></level><level class="para1" eId="d28e7240"><num>(b)</num><content><p>any officer of the company who without reasonable excuse authorised or permitted the payment commits an offence.</p></content></level></paragraph></article><article><heading>Restrictions on disposal of property</heading><num>13DK</num><paragraph eId="d28e7253"><num>(1)</num><content><p>During a moratorium, the company may dispose of its property only if authorised by paragraph <ref href="#d28e7265">(2)</ref> or <ref href="#d28e7307">(5)</ref>.</p></content></paragraph><paragraph eId="d28e7265"><num>(2)</num><intro><p>In the case of property that is not subject to a security interest, the company may dispose of the property if—</p></intro><level class="para1"><num>(a)</num><content><p>the disposal is made in the ordinary way of the company’s business,</p></content></level><level class="para1" eId="d28e7277"><num>(b)</num><content><p>the monitor consents, or</p></content></level><level class="para1"><num>(c)</num><content><p>the disposal is in pursuance of a court order.</p></content></level></paragraph><paragraph eId="d28e7289"><num>(3)</num><content><p>The monitor may give consent under paragraph <ref href="#d28e7277">(2)(b)</ref> only if the monitor thinks that it will support the rescue of the company as a going concern.</p></content></paragraph><paragraph><num>(4)</num><content><p>In deciding whether to give consent under paragraph <ref href="#d28e7277">(2)(b)</ref>, the monitor is entitled to rely on information provided by the company unless the monitor has reason to doubt its accuracy.</p></content></paragraph><paragraph eId="d28e7307"><num>(5)</num><intro><p>In the case of property that is subject to a security interest, the company may dispose of the property if the disposal is in accordance with—</p></intro><level class="para1"><num>(a)</num><content><p>Article <ref href="#d28e7405">13DM</ref><ref href="#d28e7409">(1)</ref>, or</p></content></level><level class="para1"><num>(b)</num><content><p>the terms of the security.</p></content></level></paragraph><paragraph eId="d28e7330"><num>(6)</num><intro><p>If the company disposes of its property during the moratorium otherwise than as authorised by this Article—</p></intro><level class="para1" eId="d28e7336"><num>(a)</num><content><p>the company commits an offence, and</p></content></level><level class="para1" eId="d28e7342"><num>(b)</num><content><p>any officer of the company who without reasonable excuse authorised or permitted the disposal commits an offence.</p></content></level></paragraph></article><article><heading>Restrictions on disposal of hire-purchase property</heading><num>13DL</num><paragraph><num>(1)</num><intro><p>During a moratorium, the company may dispose of any goods in the possession of the company under a hire-purchase agreement only if the disposal is in accordance with —</p></intro><level class="para1"><num>(a)</num><content><p>Article <ref href="#d28e7526">13DN</ref><ref href="#d28e7530">(1)</ref>, or</p></content></level><level class="para1"><num>(b)</num><content><p>the terms of the agreement.</p></content></level></paragraph><paragraph eId="d28e7378"><num>(2)</num><intro><p>If the company disposes of goods in the possession of the company under a hire-purchase agreement otherwise than as authorised by paragraph <ref href="#d28e7253">(1)</ref>—</p></intro><level class="para1" eId="d28e7387"><num>(a)</num><content><p>the company commits an offence, and</p></content></level><level class="para1" eId="d28e7393"><num>(b)</num><content><p>any officer of the company who without reasonable excuse authorised or permitted the disposal commits an offence.</p></content></level></paragraph></article></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading>Disposals of property free from charges etc</heading><article eId="d28e7405"><heading>Disposal of charged property free from charge</heading><num>13DM</num><paragraph eId="d28e7409"><num>(1)</num><content><p>During a moratorium, the company may, with the permission of the High Court, dispose of property which is subject to a security interest as if it were not subject to the security interest.</p></content></paragraph><paragraph><num>(2)</num><content><p>The Court may give permission under paragraph <ref href="#d28e6941">(1)</ref> only if the Court thinks that it will support the rescue of the company as a going concern.</p></content></paragraph><paragraph eId="d28e7424"><num>(3)</num><intro><p>Where the Court gives permission under paragraph <ref href="#d28e6941">(1)</ref> other than in relation to a floating charge, the company must apply the following towards discharging the sums secured—</p></intro><level class="para1"><num>(a)</num><content><p>the net proceeds of disposal of the property, and</p></content></level><level class="para1"><num>(b)</num><content><p>any money required to be added to the net proceeds so as to produce the amount determined by the Court as the net amount which would be realised on a sale of the property in the open market by a willing vendor.</p></content></level></paragraph><paragraph><num>(4)</num><content><p>Where the permission relates to two or more security interests, the condition in paragraph <ref href="#d28e7424">(3)</ref> requires the application of money in the order of the priorities of the security interests.</p></content></paragraph><paragraph eId="d28e7454"><num>(5)</num><content><p>Where property subject to a floating charge is disposed of under paragraph <ref href="#d28e7253">(1)</ref>, the holder of the floating charge has the same priority in respect of acquired property as they had in respect of the property disposed of.</p></content></paragraph><paragraph><num>(6)</num><content><p>In paragraph <ref href="#d28e7454">(5)</ref> “acquired property” means property of the company which directly or indirectly represents the property disposed of.</p></content></paragraph><paragraph eId="d28e7472"><num>(7)</num><content><p>Where the Court makes an order giving permission under paragraph <ref href="#d28e7253">(1)</ref>, the directors must, within the period of 14 days beginning with the date of the order, send a copy of it to the registrar.</p></content></paragraph><paragraph eId="d28e7481"><num>(8)</num><content><p>If the directors fail to comply with paragraph <ref href="#d28e7472">(7)</ref>, any director who did not have a reasonable excuse for the failure commits an offence.</p></content></paragraph><paragraph eId="d28e7490"><num>(9)</num><intro><p>If a company fails to comply with paragraph <ref href="#d28e7545">(3)</ref>—</p></intro><level class="para1" eId="d28e7499"><num>(a)</num><content><p>the company commits an offence, and</p></content></level><level class="para1" eId="d28e7505"><num>(b)</num><content><p>any officer of the company who without reasonable excuse authorised or permitted the failure commits an offence.</p></content></level></paragraph><paragraph><num>(10)</num><content><p>Paragraph <ref href="#d28e6941">(1)</ref> does not apply in relation to any property which is subject to a financial collateral arrangement, a market charge, a system-charge or a collateral security (as defined by Article <ref href="#d28e7010">13DI</ref>).</p></content></paragraph></article><article eId="d28e7526"><heading>Disposal of hire-purchase property</heading><num>13DN</num><paragraph eId="d28e7530"><num>(1)</num><content><p>During a moratorium, the company may, with the permission of the High Court, dispose of goods which are in the possession of the company under a hire-purchase agreement as if all of the rights of the owner under the agreement were vested in the company.</p></content></paragraph><paragraph><num>(2)</num><content><p>The Court may give permission under paragraph <ref href="#d28e6941">(1)</ref> only if the Court thinks that it will support the rescue of the company as a going concern.</p></content></paragraph><paragraph eId="d28e7545"><num>(3)</num><intro><p>Where the Court gives permission under paragraph <ref href="#d28e6941">(1)</ref>, the company must apply the following towards discharging the sums payable under the hire-purchase agreement—</p></intro><level class="para1"><num>(a)</num><content><p>the net proceeds of disposal of the goods, and</p></content></level><level class="para1"><num>(b)</num><content><p>any additional money required to be added to the net proceeds so as to produce the amount determined by the Court as the net amount which would be realised on a sale of the goods in the open market by a willing vendor.</p></content></level></paragraph><paragraph eId="d28e7566"><num>(4)</num><intro><p>If a company fails to comply with paragraph <ref href="#d28e7545">(3)</ref>—</p></intro><level class="para1" eId="d28e7575"><num>(a)</num><content><p>the company commits an offence, and</p></content></level><level class="para1" eId="d28e7581"><num>(b)</num><content><p>any officer of the company who without reasonable excuse authorised or permitted the failure commits an offence.</p></content></level></paragraph><paragraph eId="d28e7587"><num>(5)</num><content><p>Where the Court makes an order giving permission under paragraph <ref href="#d28e7253">(1)</ref>, the directors must, within the period of 14 days beginning with the date of the order, send a copy of it to the registrar.</p></content></paragraph><paragraph eId="d28e7596"><num>(6)</num><content><p>If the directors fail to comply with paragraph <ref href="#d28e7587">(5)</ref>, any director who did not have a reasonable excuse for the failure commits an offence.</p></content></paragraph></article></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading>Effect of contravention of certain provisions of Chapter</heading><article><heading>Contravention of certain requirements imposed under this Chapter</heading><num>13DO</num><intro><p>The fact that a company contravenes Article <ref href="#d28e6237">13DA</ref> or any of Articles <ref href="#d28e6879">13DG</ref> to <ref href="#d28e7526">13DN</ref> does not—</p></intro><level class="para1"><num>(a)</num><content><p>make any transaction void or unenforceable, or</p></content></level><level class="para1"><num>(b)</num><content><p>affect the validity of any other thing.</p></content></level></article></hcontainer></chapter><chapter><num>CHAPTER 5</num><heading>The monitor</heading><article><heading>Status of monitor</heading><num>13E</num><content><p>The monitor in relation to a moratorium is an officer of the High Court.</p></content></article><article><heading>Monitoring</heading><num>13EA</num><paragraph eId="d28e7659"><num>(1)</num><content><p>During a moratorium, the monitor must monitor the company’s affairs for the purpose of forming a view as to whether it remains likely that the moratorium will result in the rescue of the company as a going concern.</p></content></paragraph><paragraph><num>(2)</num><content><p>In forming the view mentioned in paragraph <ref href="#d28e7659">(1)</ref>, the monitor is entitled to rely on information provided by the company, unless the monitor has reason to doubt its accuracy.</p></content></paragraph></article><article eId="d28e7677"><heading>Provision of information to monitor</heading><num>13EB</num><paragraph><num>(1)</num><content><p>The monitor may require the directors of the company to provide any information required by the monitor for the purpose of carrying out the monitor’s functions.</p></content></paragraph><paragraph><num>(2)</num><content><p>The directors must comply with a requirement to provide information as soon as practicable.</p></content></paragraph><paragraph><num>(3)</num><content><p>For the potential consequences of failing to comply with a requirement to provide information, see Article <ref href="#d28e7714">13ED</ref>.</p></content></paragraph></article><article><heading>Application by monitor for directions</heading><num>13EC</num><content><p>The monitor in relation to a moratorium may apply to the High Court for directions about the carrying out of the monitor’s functions.</p></content></article><article eId="d28e7714"><heading>Termination of moratorium by monitor</heading><num>13ED</num><paragraph eId="d28e7718"><num>(1)</num><intro><p>The monitor must bring a moratorium to an end by filing a notice with the High Court if—</p></intro><level class="para1" eId="d28e7724"><num>(a)</num><content><p>the monitor thinks that the moratorium is no longer likely to result in the rescue of the company as a going concern,</p></content></level><level class="para1"><num>(b)</num><content><p>the monitor thinks that the objective of rescuing the company as a going concern has been achieved,</p></content></level><level class="para1"><num>(c)</num><content><p>the monitor thinks that, by reason of a failure by the directors to comply with a requirement under Article <ref href="#d28e7677">13EB</ref>, the monitor is unable properly to carry out the monitor’s functions, or</p></content></level><level class="para1" eId="d28e7745"><num>(d)</num><intro><p>the monitor thinks that the company is unable to pay any of the following that have fallen due—</p></intro><level class="para2"><num>(i)</num><content><p>moratorium debts;</p></content></level><level class="para2"><num>(ii)</num><content><p>pre-moratorium debts for which the company does not have a payment holiday during the moratorium (see Article <ref href="#d28e6094">13D</ref>).</p></content></level></level></paragraph><paragraph eId="d28e7766"><num>(2)</num><content><p>The rules may provide for debts that are to be disregarded for the purposes of paragraph <ref href="#d28e7745">(1)(d)</ref>.</p></content></paragraph><paragraph><num>(3)</num><content><p>On the filing with the Court of a notice under paragraph (1), the moratorium comes to an end.</p></content></paragraph><paragraph><num>(4)</num><content><p>The rules may make provision about the timing of a notice required to be given under paragraph (1).</p></content></paragraph><paragraph eId="d28e7787"><num>(5)</num><content><p>Regulations may amend this Article for the purposes of changing the circumstances in which the monitor must bring a moratorium to an end under paragraph (1).</p></content></paragraph><paragraph><num>(6)</num><content><p>Regulations may not be made under paragraph <ref href="#d28e7787">(5)</ref> unless a draft of the regulations has been laid before, and approved by a resolution of, the Assembly.</p></content></paragraph><paragraph><num>(7)</num><content><p>See also Article <ref href="#d28e5836">13CH</ref> (obligations to notify change in end of moratorium).</p></content></paragraph></article><article eId="d28e7814"><heading>Replacement of monitor or appointment of additional monitor</heading><num>13EE</num><paragraph eId="d28e7818"><num>(1)</num><content><p>The High Court may make an order authorising the appointment of a qualified person to act as the monitor in relation to a moratorium instead of, or in addition to, a person who already acts as the monitor.</p></content></paragraph><paragraph eId="d28e7824"><num>(2)</num><content><p>The High Court may make an order providing that a person ceases to act as the monitor in relation to a moratorium.</p></content></paragraph><paragraph eId="d28e7830"><num>(3)</num><content><p>An order under paragraph <ref href="#d28e7818">(1)</ref> or <ref href="#d28e7824">(2)</ref> may be made on only an application by the directors or the monitor.</p></content></paragraph><paragraph eId="d28e7842"><num>(4)</num><intro><p>The Court may make an order authorising the appointment of a monitor under paragraph <ref href="#d28e7818">(1)</ref> only if the person has provided the Court with a statement that the person—</p></intro><level class="para1"><num>(a)</num><content><p>is a qualified person, and</p></content></level><level class="para1"><num>(b)</num><content><p>consents to act as the monitor in relation to the moratorium.</p></content></level></paragraph><paragraph><num>(5)</num><intro><p>Where it is proposed that more than one person should act as the monitor in relation to the moratorium, the statement under paragraph <ref href="#d28e7842">(4)</ref> must specify—</p></intro><level class="para1"><num>(a)</num><content><p>which functions (if any) are to be exercised by the persons acting jointly, and</p></content></level><level class="para1"><num>(b)</num><content><p>which functions (if any) are to be exercised by any or all of the persons.</p></content></level></paragraph><paragraph><num>(6)</num><content><p>The rules may make provision about the date on which the statement under paragraph <ref href="#d28e7842">(4)</ref> must be made.</p></content></paragraph><paragraph><num>(7)</num><content><p>Where the Court makes an order under paragraph <ref href="#d28e7818">(1)</ref> or <ref href="#d28e7824">(2)</ref> the person begins to act as the monitor, or ceases to act as the monitor, in relation to the moratorium at the time specified in, or determined in accordance with, the order (“the relevant time”).</p></content></paragraph><paragraph eId="d28e7905"><num>(8)</num><intro><p>As soon as reasonably practicable after the relevant time, the monitor must notify the following of the effect of the order—</p></intro><level class="para1"><num>(a)</num><content><p>the registrar,</p></content></level><level class="para1"><num>(b)</num><content><p>every creditor of the company of whose claim the monitor is aware,</p></content></level><level class="para1"><num>(c)</num><content><p>in a case where the company is or has been an employer in respect of an occupational pension scheme that is not a money purchase scheme, the Pensions Regulator, and</p></content></level><level class="para1"><num>(d)</num><content><p>in a case where the company is an employer in respect of such a pension scheme that is an eligible scheme within the meaning given by Article 110 of the Pensions (Northern Ireland) Order 2005, the Board of the Pension Protection Fund.</p></content></level></paragraph><paragraph eId="d28e7935"><num>(9)</num><content><p>If the monitor without reasonable excuse fails to comply with paragraph <ref href="#d28e7905">(8)</ref>, the monitor commits an offence.</p></content></paragraph></article><article eId="d28e7947"><heading>Application of Part where two or more persons act as monitor</heading><num>13EF</num><paragraph eId="d28e7951"><num>(1)</num><intro><p>Where two or more persons act jointly as the monitor—</p></intro><level class="para1"><num>(a)</num><content><p>a reference in this Order to the monitor is a reference to those persons acting jointly;</p></content></level><level class="para1"><num>(b)</num><intro><p>where an offence of omission is committed by the monitor, each of the persons appointed to act jointly—</p></intro><level class="para2"><num>(i)</num><content><p>commits the offence, and</p></content></level><level class="para2"><num>(ii)</num><content><p>may be proceeded against and punished individually.</p></content></level></level></paragraph><paragraph><num>(2)</num><content><p>Where persons act jointly in respect of only some of the functions of the monitor, paragraph <ref href="#d28e7951">(1)</ref> applies only in relation to those functions.</p></content></paragraph><paragraph><num>(3)</num><content><p>Where two or more persons act concurrently as the monitor a reference in this Order to the monitor is a reference to any of the persons appointed (or any combination of them).</p></content></paragraph></article><article><heading>Presumption of validity</heading><num>13EG</num><content><p>An act of the monitor is valid in spite of a defect in the monitor’s appointment or qualification.</p></content></article></chapter><chapter><num>CHAPTER 6</num><heading>Challenges</heading><article eId="d28e8013"><heading>Challenge to monitor’s actions</heading><num>13F</num><paragraph eId="d28e8017"><num>(1)</num><content><p>Any of the persons specified below may apply to the High Court on the ground that an act, omission or decision of the monitor during a moratorium has unfairly harmed the interests of the applicant.</p></content></paragraph><paragraph eId="d28e8023"><num>(2)</num><intro><p>The persons who may apply are—</p></intro><level class="para1"><num>(a)</num><content><p>a creditor, director or member of the company, or</p></content></level><level class="para1"><num>(b)</num><content><p>any other person affected by the moratorium.</p></content></level></paragraph><paragraph><num>(3)</num><content><p>An application under paragraph <ref href="#d28e8017">(1)</ref> may be made during the moratorium or after it has ended.</p></content></paragraph><paragraph eId="d28e8050"><num>(4)</num><intro><p>On an application under paragraph <ref href="#d28e8017">(1)</ref> the Court may—</p></intro><level class="para1"><num>(a)</num><content><p>confirm, reverse or modify any act or decision of the monitor,</p></content></level><level class="para1"><num>(b)</num><content><p>give the monitor directions, or</p></content></level><level class="para1"><num>(c)</num><content><p>make such other order as it thinks fit (but may not, under this sub-paragraph, order the monitor to pay any compensation).</p></content></level></paragraph><paragraph><num>(5)</num><content><p>Where an application under paragraph <ref href="#d28e8017">(1)</ref> relates to a failure by the monitor to bring the moratorium to an end under Article <ref href="#d28e7714">13ED</ref>(1), an order under paragraph <ref href="#d28e8050">(4)</ref> may, in particular, bring the moratorium to an end and make such consequential provision as the Court thinks fit.</p></content></paragraph><paragraph eId="d28e8092"><num>(6)</num><content><p>Where an application under paragraph <ref href="#d28e8017">(1)</ref> relates to the monitor bringing a moratorium to an end under Article <ref href="#d28e7714">13ED</ref>(1), an order under paragraph <ref href="#d28e8050">(4)</ref> may, in particular, provide that the moratorium is not to be taken into account for the purposes of paragraph <ref href="#">2(1)(b)</ref> of Schedule ZA1 (company not eligible for moratorium if moratorium in force within previous 12 months).</p></content></paragraph><paragraph><num>(7)</num><content><p>In making an order under paragraph <ref href="#d28e8050">(4)</ref> the Court must have regard to the need to safeguard the interests of persons who have dealt with the company in good faith and for value.</p></content></paragraph><paragraph><num>(8)</num><content><p>See also Article <ref href="#d28e5836">13CH</ref> (obligations to notify change in end of moratorium).</p></content></paragraph></article><article><heading>Challenges to monitor remuneration in insolvency proceedings</heading><num>13FA</num><paragraph eId="d28e8135"><num>(1)</num><content><p>The rules may confer on an administrator or liquidator of a company the right to apply to the High Court on the ground that remuneration charged by the monitor in relation to a prior moratorium for the company was excessive.</p></content></paragraph><paragraph><num>(2)</num><intro><p>Rules under paragraph <ref href="#d28e8135">(1)</ref> may (among other things) make provision as to—</p></intro><level class="para1"><num>(a)</num><content><p>time limits;</p></content></level><level class="para1"><num>(b)</num><content><p>disposals available to the Court;</p></content></level><level class="para1"><num>(c)</num><content><p>the treatment of costs of the application in the administration or winding up.</p></content></level></paragraph></article><article eId="d28e8171"><heading>Challenge to directors’ actions</heading><num>13FB</num><paragraph eId="d28e8175"><num>(1)</num><intro><p>A creditor or member of a company may apply to the High Court for an order under this Article on the ground that—</p></intro><level class="para1"><num>(a)</num><content><p>during a moratorium, the company’s affairs, business and property are being or have been managed by the directors in a manner which has unfairly harmed the interests of its creditors or members generally or of some part of its creditors or members (including at least the applicant), or</p></content></level><level class="para1"><num>(b)</num><content><p>any actual or proposed act or omission of the directors during a moratorium causes or would cause such harm.</p></content></level></paragraph><paragraph><num>(2)</num><content><p>An application under paragraph <ref href="#d28e8175">(1)</ref> may be made during the moratorium or after it has ended.</p></content></paragraph><paragraph eId="d28e8202"><num>(3)</num><content><p>On an application under paragraph <ref href="#d28e8175">(1)</ref> the Court may make such order as it thinks fit.</p></content></paragraph><paragraph><num>(4)</num><intro><p>An order under paragraph <ref href="#d28e8202">(3)</ref> may in particular—</p></intro><level class="para1"><num>(a)</num><content><p>regulate the management by the directors of the company’s affairs, business and property during the remainder of the moratorium,</p></content></level><level class="para1"><num>(b)</num><content><p>require the directors to refrain from doing or continuing an act complained of by the applicant or to do an act which the applicant has complained they have omitted to do,</p></content></level><level class="para1" eId="d28e8232"><num>(c)</num><content><p>require the summoning of a meeting of the company’s creditors for the purpose of considering such matters as the Court may direct, or</p></content></level><level class="para1"><num>(d)</num><content><p>bring the moratorium to an end and make such consequential provision as the Court thinks fit.</p></content></level></paragraph><paragraph><num>(5)</num><content><p>In making an order under paragraph <ref href="#d28e8202">(3)</ref> the Court must have regard to the need to safeguard the interests of persons who have dealt with the company in good faith and for value.</p></content></paragraph><paragraph><num>(6)</num><content><p>See also Article <ref href="#d28e5836">13CH</ref> (obligations to notify change in end of moratorium).</p></content></paragraph></article><article><heading>Challenge brought by Board of the Pension Protection Fund</heading><num>13FC</num><paragraph><num>(1)</num><intro><p>This Article applies where—</p></intro><level class="para1"><num>(a)</num><intro><p>a moratorium—</p></intro><level class="para2"><num>(i)</num><content><p>is in force in relation to a company that is an employer in respect of an eligible scheme, or</p></content></level><level class="para2"><num>(ii)</num><content><p>is or has been in force in relation to a company that has been an employer in respect of an eligible scheme at any time during the moratorium, and</p></content></level></level><level class="para1"><num>(b)</num><content><p>the trustees or managers of the scheme are a creditor of the company.</p></content></level></paragraph><paragraph><num>(2)</num><content><p>The Board of the Pension Protection Fund may make any application under Article <ref href="#d28e8013">13F</ref><ref href="#d28e8017">(1)</ref> or <ref href="#d28e8171">13FB</ref><ref href="#d28e8175">(1)</ref> that could be made by the trustees or managers as a creditor.</p></content></paragraph><paragraph><num>(3)</num><content><p>For the purposes of such an application, any reference in Article <ref href="#d28e8013">13F</ref><ref href="#d28e8017">(1)</ref> or <ref href="#d28e8171">13FB</ref><ref href="#d28e8175">(1)</ref> to the interests of the applicant is to be read as a reference to the interests of the trustees or managers as a creditor.</p></content></paragraph><paragraph><num>(4)</num><content><p>In this Article “eligible scheme” has the meaning given by Article 110 of the Pensions (Northern Ireland) Order 2005.</p></content></paragraph></article></chapter><chapter><num>CHAPTER 7</num><heading>Offences: general</heading><article><heading>Offence of fraud etc during or in anticipation of moratorium</heading><num>13G</num><paragraph eId="d28e8349"><num>(1)</num><intro><p>An officer of a company commits an offence if, during a moratorium for the company or at any time within the period of 12 months ending with the day on which a moratorium for the company comes into force, the officer—</p></intro><level class="para1"><num>(a)</num><content><p>does any of the things mentioned in paragraph <ref href="#d28e8379">(2)</ref>, or</p></content></level><level class="para1"><num>(b)</num><content><p>was privy to the doing by others of any of the things mentioned in paragraph <ref href="#d28e8397">(2)(c)</ref>, <ref href="#d28e8403">(d)</ref> and <ref href="#d28e8409">(e)</ref>.</p></content></level></paragraph><paragraph eId="d28e8379"><num>(2)</num><intro><p>Those things are—</p></intro><level class="para1" eId="d28e8385"><num>(a)</num><content><p>concealing any part of the company’s property to the value of £500 or more, or concealing any debt due to or from the company,</p></content></level><level class="para1"><num>(b)</num><content><p>fraudulently removing any part of the company’s property to the value of £500 or more,</p></content></level><level class="para1" eId="d28e8397"><num>(c)</num><content><p>concealing, destroying, mutilating or falsifying any document affecting or relating to the company’s property or affairs,</p></content></level><level class="para1" eId="d28e8403"><num>(d)</num><content><p>making any false entry in any document affecting or relating to the company’s property or affairs,</p></content></level><level class="para1" eId="d28e8409"><num>(e)</num><content><p>fraudulently parting with, altering or making any omission in any document affecting or relating to the company’s property or affairs, or</p></content></level><level class="para1" eId="d28e8415"><num>(f)</num><content><p>pawning, pledging or disposing of any property of the company which has been obtained on credit and has not been paid for (unless the pawning, pledging or disposal was in the ordinary way of the company’s business).</p></content></level></paragraph><paragraph><num>(3)</num><intro><p>It is a defence—</p></intro><level class="para1"><num>(a)</num><content><p>for a person charged with an offence under paragraph <ref href="#d28e8349">(1)</ref> in respect of any of the things mentioned in paragraph <ref href="#d28e8385">(2)(a)</ref> or <ref href="#d28e8415">(f)</ref> to prove that the person had no intent to defraud, and</p></content></level><level class="para1"><num>(b)</num><content><p>for a person charged with an offence under paragraph <ref href="#d28e8349">(1)</ref> in respect of any of the things mentioned in paragraph <ref href="#d28e8397">(2)(c)</ref> or <ref href="#d28e8403">(d)</ref> to prove that the person had no intent to conceal the state of affairs of the company or to defeat the law.</p></content></level></paragraph><paragraph eId="d28e8457"><num>(4)</num><intro><p>Where a person pawns, pledges or disposes of any property of a company in circumstances which amount to an offence under paragraph <ref href="#d28e8349">(1)</ref>, every person who takes in pawn or pledge, or otherwise receives, the property commits an offence if the person knows it to be pawned, pledged or disposed of in circumstances which—</p></intro><level class="para1"><num>(a)</num><content><p>amount to an offence under paragraph <ref href="#d28e8349">(1)</ref>, or</p></content></level><level class="para1"><num>(b)</num><content><p>would, if a moratorium were obtained for the company within the period of 12 months beginning with the day on which the pawning, pledging or disposal took place, amount to an offence under paragraph <ref href="#d28e8349">(1)</ref>.</p></content></level></paragraph><paragraph><num>(5)</num><content><p>In this Article, “officer” includes a shadow director.</p></content></paragraph></article><article><heading>Offence of false representation etc to obtain a moratorium</heading><num>13GA</num><paragraph eId="d28e8497"><num>(1)</num><intro><p>An officer of a company commits an offence if, for the purpose of obtaining a moratorium for the company or an extension of a moratorium for the company, the officer—</p></intro><level class="para1"><num>(a)</num><content><p>makes any false representation, or</p></content></level><level class="para1"><num>(b)</num><content><p>fraudulently does, or omits to do, anything.</p></content></level></paragraph><paragraph><num>(2)</num><content><p>Paragraph <ref href="#d28e8497">(1)</ref> applies even if no moratorium or extension is obtained.</p></content></paragraph><paragraph><num>(3)</num><content><p>In this Article, “officer” includes a shadow director.</p></content></paragraph></article><article><heading>Prosecution of delinquent officers of company</heading><num>13GB</num><paragraph><num>(1)</num><content><p>This Article applies where a moratorium has been obtained for a company.</p></content></paragraph><paragraph eId="d28e8543"><num>(2)</num><intro><p>If it appears to the monitor that any past or present officer of the company has committed an offence in connection with the moratorium, the monitor must forthwith—</p></intro><level class="para1"><num>(a)</num><content><p>report the matter to the Department, and</p></content></level><level class="para1"><num>(b)</num><content><p>provide the Department with such information and give it such access to and facilities for inspecting and taking copies of documents (being information or documents in the possession or under the control of the monitor and relating to the matter in question) as it requires.</p></content></level></paragraph><paragraph eId="d28e8561"><num>(3)</num><content><p>Where a matter is reported to the Department under paragraph <ref href="#d28e8543">(2)</ref>, the Department may, for the purpose of investigating the matter and such other matters relating to the affairs of the company as appear to the Department to require investigation, exercise any of the powers which are exercisable by inspectors appointed under section 431 or 432 of the Companies Act 1985.</p></content></paragraph><paragraph><num>(4)</num><content><p>For the purpose of such an investigation any obligation imposed on a person by any provision of the Companies Acts to produce documents or give information to, or otherwise to assist, inspectors so appointed is to be regarded as an obligation similarly to assist the Department in its investigation.</p></content></paragraph><paragraph><num>(5)</num><content><p>Where a question is put to a person in exercise of the powers conferred by paragraph <ref href="#d28e8561">(3)</ref>, the person’s answer may be used in evidence against them.</p></content></paragraph><paragraph eId="d28e8585"><num>(6)</num><intro><p>However, in criminal proceedings in which the person is charged with an offence other than a false statement offence—</p></intro><level class="para1"><num>(a)</num><content><p>no evidence relating to the answer may be adduced, and</p></content></level><level class="para1"><num>(b)</num><content><p>no question relating to it may be asked,</p></content></level><wrapUp><p>by or on behalf of the prosecution, unless evidence relating to it is adduced, or a question relating to it is asked, in the proceedings by or on behalf of the person.</p></wrapUp></paragraph><paragraph eId="d28e8605"><num>(7)</num><content><p>In paragraph (6) “false statement offence” means an offence under Article 7 or 10 of the Perjury (Northern Ireland) Order 1979 (<ref eId="c00018" href="http://www.legislation.gov.uk/id/nisi/1979/1714">S.I. 1979/1714 (N.I. 19)</ref>) (false statements made on oath otherwise than in judicial proceedings or made otherwise than on oath).</p></content></paragraph><paragraph eId="d28e8614"><num>(8)</num><content><p>Where the Director of Public Prosecutions for Northern Ireland institutes criminal proceedings following any report under paragraph <ref href="#d28e8543">(2)</ref>, the monitor, and every officer and agent of the company past and present (other than the defendant), must give the Director all assistance in connection with the prosecution which they are reasonably able to give.</p></content></paragraph><paragraph><num>(9)</num><content><p>For this purpose “agent” includes any banker or solicitor of the company and any person employed by the company as auditor, whether that person is or is not an officer of the company.</p></content></paragraph><paragraph><num>(10)</num><content><p>The High Court may, on the application of the Director of Public Prosecutions for Northern Ireland, direct a person who has failed to comply with paragraph <ref href="#d28e8614">(8)</ref> to comply with it.</p></content></paragraph></article></chapter><chapter><num>CHAPTER 8</num><heading>Miscellaneous and general</heading><hcontainer name="crossheading" ukl:Name="Pblock"><heading>Special rules for certain kinds of company etc</heading><article><heading>Regulated companies: modifications to this Part</heading><num>13H</num><paragraph><num>(1)</num><content><p>For the purposes of Articles <ref href="#d28e4625">13B</ref> and <ref href="#d28e4677">13BA</ref> as they apply in relation to a regulated company, Article <ref href="#d28e4790">13BC</ref><ref href="#d28e4794">(1)</ref> has effect as if the documents listed there included a reference to the written consent of the appropriate regulator to the appointment of the proposed monitor.</p></content></paragraph><paragraph><num>(2)</num><content><p>The remaining provisions of this Article apply in relation to a moratorium for a regulated company.</p></content></paragraph><paragraph><num>(3)</num><content><p>Any notice under Article <ref href="#d28e4975">13BE</ref><ref href="#d28e4985">(2)</ref>, <ref href="#d28e5836">13CH</ref><ref href="#d28e5982">(2)</ref> to <ref href="#d28e6005">(4)</ref> or <ref href="#d28e7814">13EE</ref><ref href="#d28e7905">(8)</ref> must also be sent by the monitor to the appropriate regulator.</p></content></paragraph><paragraph eId="d28e8700"><num>(4)</num><content><p>The directors must give the appropriate regulator notice of any meeting of the company’s creditors that is to be held for the purposes of Article <ref href="#d28e5364">13CC</ref><ref href="#d28e5377">(2)</ref> or <ref href="#d28e8171">13FB</ref><ref href="#d28e8232">(4)(c)</ref>.</p></content></paragraph><paragraph eId="d28e8716"><num>(5)</num><content><p>If the directors fail to comply with paragraph <ref href="#d28e8700">(4)</ref>, any director who did not have a reasonable excuse for the failure commits an offence.</p></content></paragraph><paragraph eId="d28e8725"><num>(6)</num><content><p>The appropriate regulator, or a person appointed by the appropriate regulator, may in the way provided for by the rules, participate (but not vote) in any meeting of the company’s creditors that is held for the purposes of this Part.</p></content></paragraph><paragraph><num>(7)</num><content><p>The appropriate regulator is entitled to be heard on any application to the High Court for permission under Article <ref href="#d28e7405">13DM</ref><ref href="#d28e7409">(1)</ref> or <ref href="#d28e7526">13DN</ref><ref href="#d28e7530">(1)</ref> (disposal of charged property, etc.).</p></content></paragraph><paragraph><num>(8)</num><content><p>The High Court may make an order under Article <ref href="#d28e7814">13EE</ref>(1) only if the appropriate regulator has given its written consent to the appointment of the proposed monitor.</p></content></paragraph><paragraph><num>(9)</num><content><p>The persons who may apply to the High Court under Article <ref href="#d28e7814">13EE</ref><ref href="#d28e7830">(3)</ref>, <ref href="#d28e8013">13F</ref><ref href="#d28e8175">(1)</ref> or <ref href="#d28e8171">13FB</ref><ref href="#d28e8175">(1)</ref> include the appropriate regulator.</p></content></paragraph><paragraph><num>(10)</num><content><p>If a person other than a regulator applies to the High Court under Article <ref href="#d28e7814">13EE</ref><ref href="#d28e7830">(3)</ref>, <ref href="#d28e8013">13F</ref><ref href="#d28e8175">(1)</ref> or <ref href="#d28e8171">13FB</ref><ref href="#d28e8175">(1)</ref> the appropriate regulator is entitled to be heard on the application.</p></content></paragraph><paragraph><num>(11)</num><content><p>If either regulator makes an application to the High Court under Article <ref href="#d28e7814">13EE</ref><ref href="#d28e7830">(3)</ref>, <ref href="#d28e8013">13F</ref><ref href="#d28e8175">(1)</ref> or <ref href="#d28e8171">13FB</ref><ref href="#d28e8175">(1)</ref> in relation to a PRA-regulated company, the other regulator is entitled to be heard on the application.</p></content></paragraph><paragraph><num>(12)</num><content><p>This Article does not affect any right that the appropriate regulator has (apart from this Article) as a creditor of a regulated company.</p></content></paragraph><paragraph eId="d28e8826"><num>(13)</num><intro><p>In this Article—</p></intro><hcontainer name="definition"><intro><p>“the appropriate regulator” means—</p></intro><level class="para1"><num>(a)</num><content><p>where the regulated company is a PRA-regulated company, each of the Financial Conduct Authority and the Prudential Regulation Authority, and</p></content></level><level class="para1"><num>(b)</num><content><p>where the regulated company is not a PRA-regulated company, the Financial Conduct Authority;</p></content></level></hcontainer><hcontainer name="definition"><content><p>“PRA-authorised person” has the meaning given by section 2B(5) of the Financial Services and Markets Act 2000;</p></content></hcontainer><hcontainer name="definition"><intro><p>“PRA-regulated company” means a regulated company which—</p></intro><level class="para1"><num>(a)</num><content><p>is, or has been, a PRA-authorised person,</p></content></level><level class="para1"><num>(b)</num><content><p>is, or has been, an appointed representative within the meaning given by section 39 of the Financial Services and Markets Act 2000, whose principal (or one of whose principals) is, or was, a PRA-authorised person, or</p></content></level><level class="para1"><num>(c)</num><content><p>is carrying on, or has carried on, a PRA-regulated activity (within the meaning of section 22A of that Act) in contravention of the general prohibition;</p></content></level></hcontainer><hcontainer name="definition"><content><p>“regulated activity” has the meaning given by section 22 of the Financial Services and Markets Act 2000, taken with Schedule 2 to that Act and any order under that section;</p></content></hcontainer><hcontainer name="definition"><intro><p>“regulated company” means a company which—</p></intro><level class="para1"><num>(a)</num><content><p>is, or has been, an authorised person within the meaning given by section 31 of the Financial Services and Markets Act 2000,</p></content></level><level class="para1"><num>(b)</num><content><p>is, or has been, an appointed representative within the meaning given by section 39 of that Act, or</p></content></level><level class="para1"><num>(c)</num><content><p>is carrying on, or has carried on, a regulated activity in contravention of the general prohibition within the meaning given by section 19 of that Act;</p></content></level></hcontainer><hcontainer name="definition"><content><p>“regulator” means the Financial Conduct Authority or the Prudential Regulation Authority.</p></content></hcontainer></paragraph><paragraph eId="d28e8892"><num>(14)</num><content><p>Regulations may amend this Article for the purposes of changing the definition of “regulated company” in paragraph <ref href="#d28e8826">(13)</ref>.</p></content></paragraph><paragraph><num>(15)</num><content><p>Regulations may not be made under paragraph <ref href="#d28e8892">(14)</ref> unless a draft of the regulations has been laid before, and approved by a resolution of, the Assembly.</p></content></paragraph></article><article><heading>Power to modify this Part etc in relation to certain companies</heading><num>13HA</num><paragraph eId="d28e8917"><num>(1)</num><intro><p>Regulations may—</p></intro><level class="para1"><num>(a)</num><content><p>modify this Part as it applies in relation to a company for which there is a special administration regime, or</p></content></level><level class="para1"><num>(b)</num><content><p>make provision in connection with the interaction between this Part and any other insolvency procedure in relation to such a company.</p></content></level></paragraph><paragraph eId="d28e8935"><num>(2)</num><content><p>The power in paragraph <ref href="#d28e8917">(1)</ref> may, in particular, be used to amend, repeal, revoke or otherwise modify any statutory provision.</p></content></paragraph><paragraph><num>(3)</num><intro><p>In this Article—</p></intro><hcontainer name="definition"><content><p>“ordinary administration” means the insolvency procedure provided for by Schedule B1;</p></content></hcontainer><hcontainer name="definition"><intro><p>“special administration regime” means provision made by any statutory provision for an insolvency procedure that—</p></intro><level class="para1"><num>(a)</num><content><p>is similar or corresponds to ordinary administration, and</p></content></level><level class="para1"><num>(b)</num><content><p>provides for the administrator to have one or more special objectives instead of or in addition to the objectives of ordinary administration.</p></content></level></hcontainer></paragraph><paragraph eId="d28e8968"><num>(4)</num><content><p>Regulations may not be made under paragraph <ref href="#d28e8917">(1)</ref> unless a draft of the regulations has been laid before, and approved by a resolution of, the Assembly.</p></content></paragraph></article><article><heading>Power to make provision in connection with pension schemes</heading><num>13HB</num><paragraph><num>(1)</num><intro><p>A Northern Ireland department may by regulations provide that, in a case where—</p></intro><level class="para1"><num>(a)</num><intro><p>a moratorium—</p></intro><level class="para2"><num>(i)</num><content><p>is in force in relation to a company that is an employer in respect of an eligible scheme, or</p></content></level><level class="para2"><num>(ii)</num><content><p>is or has been in force in relation to a company that has been an employer in respect of an eligible scheme at any time during the moratorium, and</p></content></level></level><level class="para1"><num>(b)</num><content><p>the trustees or managers of the scheme are a creditor of the company,</p></content></level><wrapUp><p>the Board of the Pension Protection Fund may exercise any of the following rights.</p></wrapUp></paragraph><paragraph><num>(2)</num><intro><p>The rights are those which are exercisable by the trustees or managers as a creditor of the company under or by virtue of—</p></intro><level class="para1"><num>(a)</num><content><p>Article <ref href="#d28e5364">13CC</ref>, or</p></content></level><level class="para1"><num>(b)</num><content><p>a court order under Article <ref href="#d28e8171">13FB</ref><ref href="#d28e8232">(4)(c)</ref>.</p></content></level></paragraph><paragraph><num>(3)</num><intro><p>Regulations under paragraph (1) may provide that the Board may exercise any such rights—</p></intro><level class="para1"><num>(a)</num><content><p>to the exclusion of the trustees or managers of the scheme, or</p></content></level><level class="para1"><num>(b)</num><content><p>in addition to the exercise of those rights by the trustees or managers of the scheme.</p></content></level></paragraph><paragraph><num>(4)</num><intro><p>Regulations under paragraph (1)—</p></intro><level class="para1"><num>(a)</num><content><p>may specify conditions that must be met before the Board may exercise any such rights;</p></content></level><level class="para1"><num>(b)</num><content><p>may provide for any such rights to be exercisable by the Board for a specified period;</p></content></level><level class="para1"><num>(c)</num><content><p>may make provision in connection with any such rights ceasing to be so exercisable at the end of such a period.</p></content></level></paragraph><paragraph><num>(5)</num><content><p>Regulations may not be made under paragraph (1) unless a draft of the regulations has been laid before, and approved by a resolution of, the Assembly.</p></content></paragraph><paragraph><num>(6)</num><content><p>In this Article “eligible scheme” has the meaning given by Article 110 of the Pensions (Northern Ireland) Order 2005.</p></content></paragraph></article></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading>Floating charges</heading><article><heading>Void provisions in floating charge documents</heading><num>13HC</num><paragraph eId="d28e9106"><num>(1)</num><intro><p>A provision in an instrument creating a floating charge is void if it provides for the obtaining of a moratorium, or anything done with a view to obtaining a moratorium, to be—</p></intro><level class="para1"><num>(a)</num><content><p>an event causing the floating charge to crystallise,</p></content></level><level class="para1"><num>(b)</num><content><p>an event causing restrictions which would not otherwise apply to be imposed on the disposal of property by the company, or</p></content></level><level class="para1"><num>(c)</num><content><p>a ground for the appointment of a receiver.</p></content></level></paragraph><paragraph><num>(2)</num><content><p>The reference in paragraph <ref href="#d28e9106">(1)</ref> to anything done with a view to obtaining a moratorium includes any preliminary decision or investigation.</p></content></paragraph><paragraph><num>(3)</num><content><p>In paragraph <ref href="#d28e9106">(1)</ref> “receiver” includes a manager and a person who is appointed both receiver and manager.</p></content></paragraph><paragraph><num>(4)</num><intro><p>Paragraph <ref href="#d28e9106">(1)</ref> does not apply to a provision in an instrument creating a floating charge that is—</p></intro><level class="para1"><num>(a)</num><content><p>a collateral security (as defined by Article <ref href="#d28e7010">13DI</ref>);</p></content></level><level class="para1"><num>(b)</num><content><p>a market charge (as defined by Article <ref href="#d28e7010">13DI</ref>);</p></content></level><level class="para1"><num>(c)</num><content><p>a security financial collateral arrangement (within the meaning of regulation 3 of the Financial Collateral Arrangements (No. 2) Regulations 2003 (<ref eId="c00019" href="http://www.legislation.gov.uk/id/uksi/2003/3226">S.I. 2003/3226</ref>));</p></content></level><level class="para1"><num>(d)</num><content><p>a system-charge (as defined by Article <ref href="#d28e7010">13DI</ref>).</p></content></level></paragraph></article></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading>Interpretation of this Part</heading><article eId="d28e9199"><heading>Meaning of “pre-moratorium debt” and “moratorium debt”</heading><num>13HD</num><paragraph><num>(1)</num><intro><p>In this Part “pre-moratorium debt”, in relation to a company for which a moratorium is or has been in force, means—</p></intro><level class="para1"><num>(a)</num><content><p>any debt or other liability to which the company becomes subject before the moratorium comes into force, or</p></content></level><level class="para1" eId="d28e9215"><num>(b)</num><content><p>any debt or other liability to which the company has become or may become subject during the moratorium by reason of any obligation incurred before the moratorium comes into force,</p></content></level><wrapUp><p>but this is subject to paragraph <ref href="#d28e9249">(3)</ref>.</p></wrapUp></paragraph><paragraph><num>(2)</num><intro><p>In this Part “moratorium debt”, in relation to a company for which a moratorium is or has been in force, means—</p></intro><level class="para1"><num>(a)</num><content><p>any debt or other liability to which the company becomes subject during the moratorium, other than by reason of an obligation incurred before the moratorium came into force, or</p></content></level><level class="para1"><num>(b)</num><content><p>any debt or other liability to which the company has become or may become subject after the end of the moratorium by reason of an obligation incurred during the moratorium,</p></content></level><wrapUp><p>but this is subject to paragraph <ref href="#d28e9249">(3)</ref>.</p></wrapUp></paragraph><paragraph eId="d28e9249"><num>(3)</num><intro><p>For the purposes of this Part—</p></intro><level class="para1" eId="d28e9255"><num>(a)</num><intro><p>a liability in tort is a “pre-moratorium debt” if either—</p></intro><level class="para2"><num>(i)</num><content><p>the cause of action has accrued before the moratorium comes into force, or</p></content></level><level class="para2"><num>(ii)</num><content><p>all the elements necessary to establish the cause of action exist before the moratorium comes into force except for actionable damage;</p></content></level></level><level class="para1"><num>(b)</num><intro><p>a liability in tort is a “moratorium debt” if it does not fall within sub-paragraph <ref href="#d28e9255">(a)</ref> and either—</p></intro><level class="para2"><num>(i)</num><content><p>the cause of action has accrued during the moratorium, or</p></content></level><level class="para2"><num>(ii)</num><content><p>all the elements necessary to establish the cause of action exist before the moratorium comes to an end except for actionable damage.</p></content></level></level></paragraph><paragraph><num>(4)</num><content><p>Regulations may amend this Article for the purposes of changing the definition of “pre-moratorium debt” and “moratorium debt” in this Part.</p></content></paragraph><paragraph><num>(5)</num><content><p>Regulations may not be made under paragraph (4) unless a draft of the regulations has been laid before, and approved by a resolution of, the Assembly.</p></content></paragraph></article><article><heading>Interpretation of this Part: general</heading><num>13HE</num><paragraph eId="d28e9313"><num>(1)</num><intro><p>In this Part—</p></intro><hcontainer name="definition"><intro><p>“company” means—</p></intro><level class="para1"><num>(a)</num><content><p>a company registered under the Companies Act 2006 in Northern Ireland, or</p></content></level><level class="para1"><num>(b)</num><content><p>an unregistered company that may be wound up under Part 6 of this Order;</p></content></level></hcontainer><hcontainer name="definition"><content><p>“eligible”, in relation to a company, has the meaning given by Schedule ZA1;</p></content></hcontainer><hcontainer name="definition"><intro><p>“employer”, in relation to a pension scheme—</p></intro><level class="para1"><num>(a)</num><content><p>in Articles 13BE(2)(c), 13CH(8)(c) and 13EE(8)(c), means an employer within the meaning of Article 2(2) of the Pensions (Northern Ireland) Order 2005;</p></content></level><level class="para1"><num>(b)</num><content><p>elsewhere in this Part, has the same meaning that it has for the purposes of Part 3 of the Pensions (Northern Ireland) Order 2005 (see Article 2(2) and (5) of that Order);</p></content></level></hcontainer><hcontainer name="definition"><content><p>“hire-purchase agreement” includes a conditional sale agreement, a chattel leasing agreement and a retention of title agreement;</p></content></hcontainer><hcontainer name="definition"><content><p>“money purchase scheme” has the meaning given by section 176(1) of the Pension Schemes (Northern Ireland) Act 1993;</p></content></hcontainer><hcontainer name="definition"><content><p>“the monitor”, in relation to a moratorium, means the person who has the functions of the monitor in relation to the moratorium (see also Article <ref href="#d28e7947">13EF</ref> for cases where two or more persons act as the monitor);</p></content></hcontainer><hcontainer name="definition"><content><p>“moratorium” means a moratorium under this Part;</p></content></hcontainer><hcontainer name="definition"><content><p>“moratorium debt” has the meaning given by Article <ref href="#d28e9199">13HD</ref>;</p></content></hcontainer><hcontainer name="definition"><content><p>“occupational pension scheme” has the meaning given by section 1 of the Pension Schemes (Northern Ireland) Act 1993;</p></content></hcontainer><hcontainer name="definition"><content><p>“pension scheme” has the meaning given by section 1 of the Pension Schemes (Northern Ireland) Act 1993;</p></content></hcontainer><hcontainer name="definition"><content><p>“pre-moratorium debt” has the meaning given by Article <ref href="#d28e9199">13HD</ref>;</p></content></hcontainer><hcontainer name="definition"><content><p>“qualified person” means a person qualified to act as an insolvency practitioner;</p></content></hcontainer><hcontainer name="definition"><intro><p>“unable to pay its debts”—</p></intro><level class="para1"><num>(a)</num><content><p>in relation to a registered company, has the same meaning as in Part 5 (see Article 103);</p></content></level><level class="para1"><num>(b)</num><content><p>in relation to an unregistered company, has the same meaning as in Part 6 (see Articles 186 to 188).</p></content></level></hcontainer></paragraph><paragraph eId="d28e9409"><num>(2)</num><content><p>Regulations may amend this Article for the purposes of changing the definition of “qualified person” in paragraph (1).</p></content></paragraph><paragraph><num>(3)</num><content><p>Regulations may not be made under paragraph <ref href="#d28e9409">(2)</ref> unless a draft of the regulations has been laid before, and approved by a resolution of, the Assembly.</p></content></paragraph></article></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading>Regulations</heading><article><heading>Regulations</heading><num>13HF</num><content><p>Regulations made in the exercise of any power conferred by this Part may make consequential, supplementary, incidental or transitional provision or savings.</p></content></article></hcontainer></chapter></part></quotedStructure></mod></p></content></subsection><subsection eId="section-4-2"><num>(2)</num><content><p>Schedule 5 inserts into the Insolvency (Northern Ireland) Order 1989 a new Schedule ZA1 (eligible companies).</p></content></subsection><subsection eId="section-4-3"><num>(3)</num><content><p>Schedule 6 inserts into the Insolvency (Northern Ireland) Order 1989 a new Schedule ZA2 (contracts involving financial services).</p></content></subsection></section><section eId="section-5"><num>5</num><heading>Moratoriums in Northern Ireland: further amendments and transition</heading><subsection eId="section-5-1"><num>(1)</num><content><p>Schedule 7 contains consequential and other amendments to do with moratoriums under new Part 1A of the Insolvency (Northern Ireland) Order 1989 (S.I. 1989/2405 (N.I. 19)).</p></content></subsection><subsection eId="section-5-2"><num>(2)</num><content><p>Nothing in this Act affects the operation of the Insolvency (Northern Ireland) Order 1989, or any other statutory provision, in relation to a moratorium under Schedule A1 to that Order which comes into force before the repeal of that Schedule by Schedule 7 to this Act.</p></content></subsection><subsection eId="section-5-3"><num>(3)</num><content><p>Subsection (2) is without prejudice to the operation of section 16 of the Interpretation Act 1978 (general savings).</p></content></subsection><subsection eId="section-5-4"><num>(4)</num><content><p>In this section “<term refersTo="#term-statutory-provision" eId="term-statutory-provision">statutory provision</term>” has the meaning given by section 1(f) of the Interpretation Act (Northern Ireland) 1954 (c. 33 (N.I.)).</p></content></subsection></section><section eId="section-6"><num>6</num><heading>Moratoriums in Northern Ireland: temporary modifications</heading><content><p>Schedule 8 makes temporary modifications to Part 1A of the Insolvency (Northern Ireland) Order 1989 (moratorium) and other temporary provision in connection with that Part.</p></content></section></hcontainer>
<section xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" xmlns:default="http://www.w3.org/1999/xhtml" eId="section-1"><num>1</num><heading>Moratoriums in Great Britain</heading><subsection eId="section-1-1"><num>(1)</num><content><p><mod>In the Insolvency Act 1986, before Part 1 (but within the First Group of Parts) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="unknown" uk:docName="unknown" ukl:TargetClass="unknown" ukl:TargetSubClass="unknown" ukl:Context="unknown" ukl:Format="default"><part><num><b>PART A1</b></num><heading>Moratorium</heading><chapter><num>CHAPTER 1</num><heading>Introductory</heading><section><num>A1</num><heading>Overview</heading><subsection><num>(1)</num><content><p>This Part contains provision that enables an eligible company, in certain circumstances, to obtain a moratorium, giving it various protections from creditors set out in this Part.</p></content></subsection><subsection><num>(2)</num><content><p>In this Chapter section A2 introduces Schedule ZA1 (which defines what is meant by an eligible company).</p></content></subsection><subsection><num>(3)</num><content><p>Chapter 2 sets out how an eligible company may obtain a moratorium.</p></content></subsection><subsection><num>(4)</num><content><p>Chapter 3 sets out for how long a moratorium has effect.</p></content></subsection><subsection><num>(5)</num><content><p>Chapter 4 sets out the effects of a moratorium on the company and its creditors.</p></content></subsection><subsection><num>(6)</num><content><p>Chapter 5 contains provision about the monitor.</p></content></subsection><subsection><num>(7)</num><content><p>Chapter 6 contains provision about challenges.</p></content></subsection><subsection><num>(8)</num><content><p>Chapter 7 contains provision about certain offences.</p></content></subsection><subsection><num>(9)</num><intro><p>Chapter 8 contains miscellaneous and general provision, including—</p></intro><level class="para1"><num>(a)</num><content><p>special provision for certain kinds of company;</p></content></level><level class="para1"><num>(b)</num><content><p>definitions for the purposes of this Part;</p></content></level><level class="para1"><num>(c)</num><content><p>provision about regulations under this Part.</p></content></level></subsection></section><section><num>A2</num><heading>Eligible companies</heading><content><p>Schedule ZA1 contains provision for determining whether a company is an eligible company for the purposes of this Part.</p></content></section></chapter><chapter><num>CHAPTER 2</num><heading>Obtaining a moratorium</heading><section><num>A3</num><heading>Obtaining a moratorium by filing or lodging documents at court</heading><subsection><num>(1)</num><intro><p>This section applies to an eligible company that—</p></intro><level class="para1"><num>(a)</num><content><p>is not subject to an outstanding winding-up petition, and</p></content></level><level class="para1"><num>(b)</num><content><p>is not an overseas company.</p></content></level></subsection><subsection><num>(2)</num><content><p>The directors of the company may obtain a moratorium for the company by filing the relevant documents with the court (for the relevant documents, see section A6).</p></content></subsection><subsection><num>(3)</num><intro><p>For the purposes of this Chapter a company is subject to an outstanding winding-up petition if—</p></intro><level class="para1"><num>(a)</num><content><p>a petition for the winding up of the company has been presented, and</p></content></level><level class="para1"><num>(b)</num><content><p>the petition has not been withdrawn or determined.</p></content></level></subsection></section><section><num>A4</num><heading>Obtaining a moratorium for company subject to winding-up petition</heading><subsection><num>(1)</num><content><p>This section applies to an eligible company that is subject to an outstanding winding-up petition.</p></content></subsection><subsection><num>(2)</num><content><p>The directors of the company may apply to the court for a moratorium for the company.</p></content></subsection><subsection><num>(3)</num><content><p>The application must be accompanied by the relevant documents (for the relevant documents, see section A6).</p></content></subsection><subsection><num>(4)</num><intro><p>On hearing the application the court may—</p></intro><level class="para1"><num>(a)</num><content><p>make an order that the company should be subject to a moratorium, or</p></content></level><level class="para1"><num>(b)</num><content><p>make any other order which the court thinks appropriate.</p></content></level></subsection><subsection><num>(5)</num><content><p>The court may make an order under subsection (4)(a) only if it is satisfied that a moratorium for the company would achieve a better result for the company's creditors as a whole than would be likely if the company were wound up (without first being subject to a moratorium).</p></content></subsection></section><section><num>A5</num><heading>Obtaining a moratorium for other overseas companies</heading><subsection><num>(1)</num><intro><p>This section applies to an eligible company that—</p></intro><level class="para1"><num>(a)</num><content><p>is not subject to an outstanding winding-up petition, and</p></content></level><level class="para1"><num>(b)</num><content><p>is an overseas company.</p></content></level></subsection><subsection><num>(2)</num><content><p>The directors of the company may apply to the court for a moratorium for the company.</p></content></subsection><subsection><num>(3)</num><content><p>The application must be accompanied by the relevant documents (for the relevant documents, see section A6).</p></content></subsection><subsection><num>(4)</num><intro><p>On hearing the application the court may—</p></intro><level class="para1"><num>(a)</num><content><p>make an order that the company should be subject to a moratorium, or</p></content></level><level class="para1"><num>(b)</num><content><p>make any other order which the court thinks appropriate.</p></content></level></subsection></section><section><num>A6</num><heading>The relevant documents</heading><subsection><num>(1)</num><intro><p>For the purposes of this Chapter, the relevant documents are—</p></intro><level class="para1"><num>(a)</num><content><p>a notice that the directors wish to obtain a moratorium,</p></content></level><level class="para1"><num>(b)</num><intro><p>a statement from a qualified person (the proposed monitor) that the person—</p></intro><level class="para2"><num>(i)</num><content><p>is a qualified person, and</p></content></level><level class="para2"><num>(ii)</num><content><p>consents to act as the monitor in relation to the proposed moratorium,</p></content></level></level><level class="para1"><num>(c)</num><content><p>a statement from the proposed monitor that the company is an eligible company,</p></content></level><level class="para1"><num>(d)</num><content><p>a statement from the directors that, in their view, the company is, or is likely to become, unable to pay its debts, and</p></content></level><level class="para1"><num>(e)</num><content><p>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.</p></content></level></subsection><subsection><num>(2)</num><intro><p>Where it is proposed that more than one person should act as the monitor in relation to the proposed moratorium—</p></intro><level class="para1"><num>(a)</num><content><p>each of them must make a statement under subsection (1)(b), (c) and (e), and</p></content></level><level class="para1"><num>(b)</num><intro><p>the statement under subsection (1)(b) must specify—</p></intro><level class="para2"><num>(i)</num><content><p>which functions (if any) are to be exercised by the persons acting jointly, and</p></content></level><level class="para2"><num>(ii)</num><content><p>which functions (if any) are to be exercised by any or all of the persons.</p></content></level></level></subsection><subsection><num>(3)</num><content><p>The rules may make provision about the date on which a statement comprised in the relevant documents must be made.</p></content></subsection><subsection><num>(4)</num><content><p>The Secretary of State may by regulations amend this section for the purposes of adding to the list of documents in subsection (1).</p></content></subsection><subsection><num>(5)</num><content><p>Regulations under subsection (4) are subject to the affirmative resolution procedure.</p></content></subsection></section><section><num>A7</num><heading>Beginning of moratorium and appointment of monitor</heading><subsection><num>(1)</num><intro><p>A moratorium for a company comes into force at the time at which—</p></intro><level class="para1"><num>(a)</num><content><p>in the case of a company to which section A3 applies, the relevant documents are filed with the court under subsection (2) of that section;</p></content></level><level class="para1"><num>(b)</num><content><p>in the case of a company to which section A4 applies, an order is made under section A4(4)(a);</p></content></level><level class="para1"><num>(c)</num><content><p>in the case of a company to which section A5 applies, an order is made under section A5(4)(a).</p></content></level></subsection><subsection><num>(2)</num><content><p>On the coming into force of a moratorium, the person or persons who made the statement mentioned in section A6(1)(b) become the monitor in relation to the moratorium.</p></content></subsection></section><section><num>A8</num><heading>Obligations to notify where moratorium comes into force</heading><subsection><num>(1)</num><content><p>As soon as reasonably practicable after a moratorium for a company comes into force, the directors must notify the monitor of that fact.</p></content></subsection><subsection><num>(2)</num><intro><p>As soon as reasonably practicable after receiving a notice under subsection (1), the monitor must notify the following that a moratorium for the company has come into force—</p></intro><level class="para1"><num>(a)</num><content><p>the registrar of companies,</p></content></level><level class="para1"><num>(b)</num><content><p>every creditor of the company of whose claim the monitor is aware,</p></content></level><level class="para1"><num>(c)</num><content><p>in a case where the company is or has been an employer in respect of an occupational pension scheme that is not a money purchase scheme, the Pensions Regulator, and</p></content></level><level class="para1"><num>(d)</num><content><p>in a case where the company is an employer in respect of such a pension scheme that is an eligible scheme within the meaning given by section 126 of the Pensions Act 2004, the Board of the Pension Protection Fund.</p></content></level></subsection><subsection><num>(3)</num><intro><p>A notice under subsection (2) must specify—</p></intro><level class="para1"><num>(a)</num><content><p>when the moratorium came into force, and</p></content></level><level class="para1"><num>(b)</num><content><p>when, subject to any alteration under or by virtue of any of the provisions mentioned in section A9(3) or (4), the moratorium will come to an end.</p></content></level></subsection><subsection><num>(4)</num><content><p>If the directors fail to comply with subsection (1), any director who did not have a reasonable excuse for the failure commits an offence.</p></content></subsection><subsection><num>(5)</num><content><p>If the monitor without reasonable excuse fails to comply with subsection (2), the monitor commits an offence.</p></content></subsection></section></chapter><chapter><num>CHAPTER 3</num><heading>Length of moratorium</heading><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Initial period</i></heading><section><num>A9</num><heading>End of the moratorium</heading><subsection><num>(1)</num><content><p>A moratorium ends at the end of the initial period unless it is extended, or comes to an end sooner, under or by virtue of a provision mentioned in subsection (3) or (4).</p></content></subsection><subsection><num>(2)</num><content><p>In this Chapter the initial period, in relation to a moratorium, means the period of 20 business days beginning with the business day after the day on which the moratorium comes into force.</p></content></subsection><subsection><num>(3)</num><content><p>For provision under or by virtue of which a moratorium is or may be extended, see—</p><blockList class="unordered none" ukl:Name="UnorderedList" ukl:Decoration="none"><item><p>section A10 (extension by directors without creditor consent);</p></item><item><p>section A11 (extension by directors with creditor consent);</p></item><item><p>section A13 (extension by court on application of directors);</p></item><item><p>section A14 (extension while proposal for CVA pending);</p></item><item><p>section A15 (extension by court in course of other proceedings).</p></item></blockList></content></subsection><subsection><num>(4)</num><content><p>For provision under or by virtue of which the moratorium is or may be terminated, see—</p><blockList class="unordered none" ukl:Name="UnorderedList" ukl:Decoration="none"><item><p>section A16 (termination on entry into insolvency procedure etc);</p></item><item><p>section A38 (termination by monitor);</p></item><item><p>section A42 or A44 (termination by court).</p></item></blockList></content></subsection><subsection><num>(5)</num><content><p>A moratorium may not be extended under a provision mentioned in subsection (3) once it has come to an end.</p></content></subsection><subsection><num>(6)</num><content><p>Where the application of two or more of the provisions mentioned in subsections (3) and (4) would produce a different length of moratorium, the provision that applies last is to prevail (irrespective of whether that results in a shorter or longer moratorium).</p></content></subsection></section></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Extension of moratorium</i></heading><section><num>A10</num><heading>Extension by directors without creditor consent</heading><subsection><num>(1)</num><intro><p>During the initial period, but after the first 15 business days of that period, the directors may extend the moratorium by filing with the court—</p></intro><level class="para1"><num>(a)</num><content><p>a notice that the directors wish to extend the moratorium,</p></content></level><level class="para1"><num>(b)</num><intro><p>a statement from the directors that all of the following that have fallen due have been paid or otherwise discharged—</p></intro><level class="para2"><num>(i)</num><content><p>moratorium debts, and</p></content></level><level class="para2"><num>(ii)</num><content><p>pre-moratorium debts for which the company does not have a payment holiday during the moratorium (see section A18),</p></content></level></level><level class="para1"><num>(c)</num><content><p>a statement from the directors that, in their view, the company is, or is likely to become, unable to pay its pre-moratorium debts, and</p></content></level><level class="para1"><num>(d)</num><content><p>a statement from the monitor that, in the monitor's view, it is likely that the moratorium will result in the rescue of the company as a going concern.</p></content></level></subsection><subsection><num>(2)</num><content><p>The rules may make provision about the date on which a statement mentioned in subsection (1) must be made.</p></content></subsection><subsection><num>(3)</num><intro><p>On the filing with the court of the documents mentioned in subsection (1), the moratorium is extended so that it ends at the end of the period—</p></intro><level class="para1"><num>(a)</num><content><p>beginning immediately after the initial period ends, and</p></content></level><level class="para1"><num>(b)</num><content><p>ending with the 20th business day after the initial period ends.</p></content></level></subsection></section><section><num>A11</num><heading>Extension by directors with creditor consent</heading><subsection><num>(1)</num><intro><p>At any time after the first 15 business days of the initial period the directors may, if they have obtained creditor consent, extend the moratorium by filing with the court—</p></intro><level class="para1"><num>(a)</num><content><p>a notice that the directors wish to extend the moratorium,</p></content></level><level class="para1"><num>(b)</num><intro><p>a statement from the directors that all of the following that have fallen due have been paid or otherwise discharged—</p></intro><level class="para2"><num>(i)</num><content><p>moratorium debts, and</p></content></level><level class="para2"><num>(ii)</num><content><p>pre-moratorium debts for which the company does not have a payment holiday during the moratorium (see section A18),</p></content></level></level><level class="para1"><num>(c)</num><content><p>a statement from the directors that, in their view, the company is, or is likely to become, unable to pay its pre-moratorium debts,</p></content></level><level class="para1"><num>(d)</num><content><p>a statement from the monitor that, in the monitor's view, it is likely that the moratorium will result in the rescue of the company as a going concern, and</p></content></level><level class="para1"><num>(e)</num><content><p>a statement from the directors that creditor consent has been obtained, and of the revised end date for which that consent was obtained.</p></content></level></subsection><subsection><num>(2)</num><content><p>The rules may make provision about the date on which a statement mentioned in subsection (1) must be made.</p></content></subsection><subsection><num>(3)</num><content><p>On the filing with the court of the documents mentioned in subsection (1), the moratorium is extended so that it ends with the revised end date mentioned in the statement under subsection (1)(e).</p></content></subsection><subsection><num>(4)</num><content><p>A moratorium may be extended under this section more than once.</p></content></subsection></section><section><num>A12</num><heading>Creditor consent for the purposes of section A11</heading><subsection><num>(1)</num><content><p>References in section A11 to creditor consent are to the consent of pre-moratorium creditors to a revised end date for the moratorium.</p></content></subsection><subsection><num>(2)</num><content><p>The decision as to consent is to be made using a qualifying decision procedure.</p></content></subsection><subsection><num>(3)</num><content><p>The revised end date must be a date before the end of the period of one year beginning with the first day of the initial period.</p></content></subsection><subsection><num>(4)</num><intro><p>In this section pre-moratorium creditor means a creditor in respect of a pre-moratorium debt—</p></intro><level class="para1"><num>(a)</num><content><p>for which the company has a payment holiday during the moratorium (see section A18), and</p></content></level><level class="para1"><num>(b)</num><content><p>which has not been paid or otherwise discharged.</p></content></level></subsection><subsection><num>(5)</num><content><p>In determining for the purposes of subsection (4) what counts as a pre-moratorium debt for which the company has a payment holiday during the moratorium, sections A18(3) and A53(1)(b) apply as if the references to the moratorium were to the moratorium as proposed to be extended.</p></content></subsection><subsection><num>(6)</num><content><p>The Secretary of State may by regulations amend this section for the purposes of changing the definition of pre-moratorium creditor.</p></content></subsection><subsection><num>(7)</num><content><p>Regulations under subsection (6) are subject to the affirmative resolution procedure.</p></content></subsection></section><section><num>A13</num><heading>Extension by court on application of directors</heading><subsection><num>(1)</num><content><p>At any time after the first 15 business days of the initial period, the directors may apply to the court for an order that the moratorium be extended.</p></content></subsection><subsection><num>(2)</num><intro><p>The application must be accompanied by—</p></intro><level class="para1"><num>(a)</num><intro><p>a statement from the directors that all of the following that have fallen due have been paid or otherwise discharged—</p></intro><level class="para2"><num>(i)</num><content><p>moratorium debts, and</p></content></level><level class="para2"><num>(ii)</num><content><p>pre-moratorium debts for which the company does not have a payment holiday during the moratorium (see section A18),</p></content></level></level><level class="para1"><num>(b)</num><content><p>a statement from the directors that, in their view, the company is, or is likely to become, unable to pay its pre-moratorium debts,</p></content></level><level class="para1"><num>(c)</num><content><p>a statement from the directors as to whether pre-moratorium creditors (as defined by section A12(4) and (5)) have been consulted about the application and if not why not, and</p></content></level><level class="para1"><num>(d)</num><content><p>a statement from the monitor that, in the monitor's view, it is likely that the moratorium will result in the rescue of the company as a going concern.</p></content></level></subsection><subsection><num>(3)</num><content><p>The rules may make provision about the date on which a statement mentioned in subsection (2) must be made.</p></content></subsection><subsection><num>(4)</num><intro><p>On hearing the application the court may—</p></intro><level class="para1"><num>(a)</num><content><p>make an order that the moratorium be extended to such date as is specified in the order, or</p></content></level><level class="para1"><num>(b)</num><content><p>make any other order which the court thinks appropriate.</p></content></level></subsection><subsection><num>(5)</num><intro><p>In deciding whether to make an order under subsection (4)(a) the court must, in particular, consider the following—</p></intro><level class="para1"><num>(a)</num><content><p>the interests of pre-moratorium creditors, as defined by section A12(4) and (5), and</p></content></level><level class="para1"><num>(b)</num><content><p>the likelihood that the extension of the moratorium will result in the rescue of the company as a going concern.</p></content></level></subsection><subsection><num>(6)</num><intro><p>Subsection (7) applies where—</p></intro><level class="para1"><num>(a)</num><content><p>an application under this section is made, and</p></content></level><level class="para1"><num>(b)</num><content><p>apart from that subsection, the moratorium would end at a time before the application has been disposed of.</p></content></level></subsection><subsection><num>(7)</num><intro><p>The moratorium—</p></intro><level class="para1"><num>(a)</num><content><p>does not end at the time mentioned in subsection (6)(b), and</p></content></level><level class="para1"><num>(b)</num><intro><p>instead, ends—</p></intro><level class="para2"><num>(i)</num><content><p>in a case in which the court makes an order under subsection (4)(a), in accordance with the order;</p></content></level><level class="para2"><num>(ii)</num><content><p>otherwise, when the application is withdrawn or disposed of.</p></content></level></level></subsection><subsection><num>(8)</num><content><p>A moratorium may be extended under this section more than once.</p></content></subsection></section><section><num>A14</num><heading>Extension while proposal for CVA pending</heading><subsection><num>(1)</num><intro><p>Subsection (2) applies where—</p></intro><level class="para1"><num>(a)</num><content><p>at any time, the directors make a proposal under Part 1 (company voluntary arrangements), and</p></content></level><level class="para1"><num>(b)</num><content><p>apart from that subsection, the moratorium would end at a time before the proposal is disposed of.</p></content></level></subsection><subsection><num>(2)</num><intro><p>The moratorium—</p></intro><level class="para1"><num>(a)</num><content><p>does not end at the time mentioned in subsection (1)(b), and</p></content></level><level class="para1"><num>(b)</num><content><p>instead, ends when the proposal is disposed of.</p></content></level></subsection><subsection><num>(3)</num><intro><p>For the purposes of this section a proposal under Part 1 is disposed of when any of the following takes place—</p></intro><level class="para1"><num>(a)</num><content><p>the company and its creditors both decide under section 4 not to approve the voluntary arrangement contained in the proposal;</p></content></level><level class="para1"><num>(b)</num><intro><p>the decisions taken by the company and its creditors under section 4 differ, and—</p></intro><level class="para2"><num>(i)</num><content><p>the period for making an application under section 4A(3) expires and either no application has been made within that period or any application made within that period has been withdrawn, or</p></content></level><level class="para2"><num>(ii)</num><content><p>an application is made under section 4A(3) and that application is disposed of, or it is withdrawn after the expiry of the period for making an application under section 4A(3);</p></content></level></level><level class="para1"><num>(c)</num><content><p>the voluntary arrangement contained in the proposal takes effect under section 5;</p></content></level><level class="para1"><num>(d)</num><content><p>the proposal is withdrawn.</p></content></level></subsection></section><section><num>A15</num><heading>Extension by court in the course of other proceedings</heading><subsection><num>(1)</num><intro><p>Subsection (2) applies where—</p></intro><level class="para1"><num>(a)</num><content><p>an application is made under section 896 or 901C(1) of the Companies Act 2006 (arrangements and reconstructions: court order for holding of meeting) in respect of a company, and</p></content></level><level class="para1"><num>(b)</num><content><p>during proceedings before a court in connection with the application, a moratorium for the company is in force.</p></content></level></subsection><subsection><num>(2)</num><content><p>The court may make an order that the moratorium be extended to such date as is specified in the order.</p></content></subsection></section></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Early termination on certain grounds</i></heading><section><num>A16</num><heading>Company enters into insolvency procedure etc</heading><subsection><num>(1)</num><intro><p>A moratorium comes to an end at any time at which the company—</p></intro><level class="para1"><num>(a)</num><content><p>enters into a compromise or arrangement (see subsection (2)), or</p></content></level><level class="para1"><num>(b)</num><content><p>enters into a relevant insolvency procedure (see subsection (3)).</p></content></level></subsection><subsection><num>(2)</num><content><p>For the purposes of this section a company enters into a compromise or arrangement if an order under section 899 or 901F of the Companies Act 2006 (court sanction for compromise or arrangement) comes into effect in relation to the company.</p></content></subsection><subsection><num>(3)</num><intro><p>For the purposes of this section a company enters into a relevant insolvency procedure if—</p></intro><level class="para1"><num>(a)</num><content><p>a voluntary arrangement takes effect under section 5 in relation to the company,</p></content></level><level class="para1"><num>(b)</num><content><p>the company enters administration (within the meaning of Schedule B1 (see paragraph 1(2)(b) of that Schedule)),</p></content></level><level class="para1"><num>(c)</num><content><p>paragraph 44 of Schedule B1 (administration: interim moratorium) begins to apply in relation to the company, or</p></content></level><level class="para1"><num>(d)</num><content><p>the company goes into liquidation (see section 247).</p></content></level></subsection></section></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Obligations to notify change in end of moratorium</i></heading><section><num>A17</num><heading>Obligations to notify change in end of moratorium</heading><subsection><num>(1)</num><content><p>The table imposes obligations on the directors of a company to notify the monitor where a moratorium for the company is extended or comes to an end.</p><tblock class="table" ukl:Orientation="portrait"><foreign><default:table xmlns="http://www.w3.org/1999/xhtml"><default:colgroup><default:col style="width:7%"/><default:col style="width:37%"/><default:col style="width:56%"/></default:colgroup><default:tbody><default:tr><default:th/><default:th><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0"><i>Where a moratorium is extended or comes to an end under or by virtue of the following provision</i></p></default:th><default:th><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0"><i>the directors must </i></p></default:th></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Section A10</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Notify the monitor of the extension.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Section A11</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Notify the monitor of the extension and of the revised end date.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">3</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Section A13(4)</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Notify the monitor of the extension and provide the monitor with the court order under section A13(4).</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">4</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Section A13(7)(a)</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Notify the monitor of the extension.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">5</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Section A13(7)(b)(ii)</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Notify the monitor that the moratorium has come to an end and of the date that it ended.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">6</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Section A14(2)(a)</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Notify the monitor of the extension.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">7</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Section A14(2)(b)</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Notify the monitor that the moratorium has come to an end and of the date that it ended.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">8</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Section A15</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Notify the monitor of the extension and provide the monitor with any court order under section A15.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">9</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Section A16</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Notify the monitor that the moratorium has come to an end.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">10</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Section A42</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Notify the monitor that the moratorium has come to an end and provide the monitor with the court order under section A42.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">11</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Section A44</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Notify the monitor that the moratorium has come to an end and provide the monitor with the court order under section A44.</p></default:td></default:tr></default:tbody></default:table></foreign></tblock></content></subsection><subsection><num>(2)</num><content><p>After receiving a notice under subsection (1), other than a notice under entry 4 or 6 of the table, the monitor must notify the relevant persons of when the moratorium ended or, subject to any alteration under or by virtue of any of the provisions mentioned in section A9(3) or (4), the moratorium will come to an end.</p></content></subsection><subsection><num>(3)</num><content><p>After receiving a notice under entry 4 or 6 of the table, the monitor must notify the relevant persons.</p></content></subsection><subsection><num>(4)</num><content><p>If a moratorium comes to an end under section A38 (termination by monitor), the monitor must notify the company and the relevant persons of when the moratorium ended.</p></content></subsection><subsection><num>(5)</num><intro><p>The rules may—</p></intro><level class="para1"><num>(a)</num><content><p>make further provision about the timing of a notice required to be given under this section;</p></content></level><level class="para1"><num>(b)</num><content><p>require a notice to be accompanied by other documents.</p></content></level></subsection><subsection><num>(6)</num><content><p>If the directors fail to comply with subsection (1), any director who did not have a reasonable excuse for the failure commits an offence.</p></content></subsection><subsection><num>(7)</num><content><p>If the monitor without reasonable excuse fails to comply with any of subsections (2) to (4), the monitor commits an offence.</p></content></subsection><subsection><num>(8)</num><intro><p>In this section the relevant persons means—</p></intro><level class="para1"><num>(a)</num><content><p>the registrar of companies,</p></content></level><level class="para1"><num>(b)</num><content><p>every creditor of the company of whose claim the monitor is aware,</p></content></level><level class="para1"><num>(c)</num><content><p>in a case where the company is or has been an employer in respect of an occupational pension scheme that is not a money purchase scheme, the Pensions Regulator, and</p></content></level><level class="para1"><num>(d)</num><content><p>in a case where the company is an employer in respect of such a pension scheme that is an eligible scheme within the meaning given by section 126 of the Pensions Act 2004, the Board of the Pension Protection Fund.</p></content></level></subsection></section></hcontainer></chapter><chapter><num>CHAPTER 4</num><heading>Effects of moratorium</heading><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Introductory</i></heading><section><num>A18</num><heading>Overview and construction of references to payment holidays</heading><subsection><num>(1)</num><content><p>This Chapter makes provision about the main effects of a moratorium for a company.</p></content></subsection><subsection><num>(2)</num><content><p>The provision made by this Chapter includes restrictions on the enforcement or payment of the debts that are defined by subsection (3) as pre-moratorium debts for which a company has a payment holiday during a moratorium.</p></content></subsection><subsection><num>(3)</num><intro><p>In this Part a reference to pre-moratorium debts for which a company has a payment holiday during a moratorium is to its pre-moratorium debts that have fallen due before the moratorium, or that fall due during the moratorium, except in so far as they consist of amounts payable in respect of—</p></intro><level class="para1"><num>(a)</num><content><p>the monitor's remuneration or expenses,</p></content></level><level class="para1"><num>(b)</num><content><p>goods or services supplied during the moratorium,</p></content></level><level class="para1"><num>(c)</num><content><p>rent in respect of a period during the moratorium,</p></content></level><level class="para1"><num>(d)</num><content><p>wages or salary arising under a contract of employment,</p></content></level><level class="para1"><num>(e)</num><content><p>redundancy payments, or</p></content></level><level class="para1"><num>(f)</num><content><p>debts or other liabilities arising under a contract or other instrument involving financial services.</p></content></level></subsection><subsection><num>(4)</num><content><p>The rules may make provision as to what is, or is not, to count as the supply of goods or services for the purposes of subsection (3)(b).</p></content></subsection><subsection><num>(5)</num><content><p>The Secretary of State may by regulations amend this section for the purposes of changing the list in subsection (3).</p></content></subsection><subsection><num>(6)</num><content><p>Regulations under subsection (5) are subject to the affirmative resolution procedure.</p></content></subsection><subsection><num>(7)</num><intro><p>In this section—</p></intro><hcontainer name="definition"><content><p>contract or other instrument involving financial services has the meaning given by Schedule ZA2;</p></content></hcontainer><hcontainer name="definition"><content><p>monitor's remuneration or expenses does not include remuneration in respect of anything done by a proposed monitor before the moratorium begins;</p></content></hcontainer><hcontainer name="definition"><intro><p>redundancy payment means—</p></intro><level class="para1"><num>(a)</num><content><p>a redundancy payment under Part 11 of the Employment Rights Act 1996 or Part 12 of the Employment Rights (Northern Ireland) Order 1996, or</p></content></level><level class="para1"><num>(b)</num><content><p>a payment made to a person who agrees to the termination of their employment in circumstances where they would have been entitled to a redundancy payment under that Part if dismissed;</p></content></level></hcontainer><hcontainer name="definition"><intro><p>wages or salary includes—</p></intro><level class="para1"><num>(a)</num><content><p>a sum payable in respect of a period of holiday (for which purpose the sum is to be treated as relating to the period by reference to which the entitlement to holiday accrued),</p></content></level><level class="para1"><num>(b)</num><content><p>a sum payable in respect of a period of absence through illness or other good cause,</p></content></level><level class="para1"><num>(c)</num><content><p>a sum payable in lieu of holiday, and</p></content></level><level class="para1"><num>(d)</num><content><p>a contribution to an occupational pension scheme.</p></content></level></hcontainer></subsection></section></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Publicity about moratorium</i></heading><section><num>A19</num><heading>Publicity about moratorium</heading><subsection><num>(1)</num><intro><p>During a moratorium, the company must, in any premises—</p></intro><level class="para1"><num>(a)</num><content><p>where business of the company is carried on, and</p></content></level><level class="para1"><num>(b)</num><content><p>to which customers of the company or suppliers of goods or services to the company have access,</p></content></level><wrapUp><p>display, in a prominent position so that it may easily be read by such customers or suppliers, a notice containing the required information.</p></wrapUp></subsection><subsection><num>(2)</num><content><p>During a moratorium, any websites of the company must state the required information.</p></content></subsection><subsection><num>(3)</num><content><p>During a moratorium, every business document issued by or on behalf of the company must state the required information.</p></content></subsection><subsection><num>(4)</num><content><p>For the purposes of subsections (1), (2) and (3), the required information is—</p></content></subsection><level class="para1"><num>(a)</num><content><p>that a moratorium is in force in relation to the company, and</p></content></level><level class="para1"><num>(b)</num><content><p>the name of the monitor.</p></content></level><subsection><num>(5)</num><intro><p>If subsection (1), (2) or (3) is contravened—</p></intro><level class="para1"><num>(a)</num><content><p>the company commits an offence, and</p></content></level><level class="para1"><num>(b)</num><content><p>any officer of the company who without reasonable excuse authorised or permitted the contravention commits an offence.</p></content></level></subsection><subsection><num>(6)</num><intro><p>In this section business document means—</p></intro><level class="para1"><num>(a)</num><content><p>an invoice,</p></content></level><level class="para1"><num>(b)</num><content><p>an order for goods or services,</p></content></level><level class="para1"><num>(c)</num><content><p>a business letter, and</p></content></level><level class="para1"><num>(d)</num><content><p>an order form,</p></content></level><wrapUp><p>whether in hard copy, electronic or any other form.</p></wrapUp></subsection></section></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Effect on creditors etc</i></heading><section><num>A20</num><heading>Restrictions on insolvency proceedings etc</heading><subsection><num>(1)</num><intro><p>During a moratorium—</p></intro><level class="para1"><num>(a)</num><content><p>no petition may be presented for the winding up of the company, except by the directors,</p></content></level><level class="para1"><num>(b)</num><content><p>no resolution may be passed for the voluntary winding up of the company under section 84(1)(a),</p></content></level><level class="para1"><num>(c)</num><content><p>a resolution for the voluntary winding up of the company under section 84(1)(b) may be passed only if the resolution is recommended by the directors,</p></content></level><level class="para1"><num>(d)</num><content><p>no order may be made for the winding up of the company, except on a petition by the directors,</p></content></level><level class="para1"><num>(e)</num><content><p>no administration application may be made in respect of the company, except by the directors,</p></content></level><level class="para1"><num>(f)</num><content><p>no notice of intention to appoint an administrator of the company under paragraph 14 or 22(1) of Schedule B1 may be filed with the court,</p></content></level><level class="para1"><num>(g)</num><content><p>no administrator of the company may be appointed under paragraph 14 or 22(1) of Schedule B1, and</p></content></level><level class="para1"><num>(h)</num><content><p>no administrative receiver of the company may be appointed.</p></content></level></subsection><subsection><num>(2)</num><content><p>Subsection (1)(a) does not apply to an excepted petition; and subsection (1)(d) does not apply to an order on an excepted petition.</p></content></subsection><subsection><num>(3)</num><intro><p>For these purposes, excepted petition means a petition under—</p></intro><level class="para1"><num>(a)</num><content><p>section 124A, 124B or 124C, or</p></content></level><level class="para1"><num>(b)</num><content><p>section 367 of the Financial Services and Markets Act 2000 on the ground mentioned in subsection (3)(b) of that section.</p></content></level></subsection></section><section><num>A21</num><heading>Restrictions on enforcement and legal proceedings</heading><subsection><num>(1)</num><intro><p>During a moratorium—</p></intro><level class="para1"><num>(a)</num><content><p>a landlord or other person to whom rent is payable may not exercise a right of forfeiture by peaceable re-entry in relation to premises let to the company, except with the permission of the court,</p></content></level><level class="para1"><num>(b)</num><content><p>in Scotland, a landlord or other person to whom rent is payable may not exercise a right of irritancy in relation to premises let to the company, except with the permission of the court,</p></content></level><level class="para1"><num>(c)</num><intro><p>no steps may be taken to enforce any security over the company's property except—</p></intro><level class="para2"><num>(i)</num><content><p>steps to enforce a collateral security charge (within the meaning of the Financial Markets and Insolvency (Settlement Finality) Regulations 1999 (S.I. 1999/2979)),</p></content></level><level class="para2"><num>(ii)</num><content><p>steps to enforce security created or otherwise arising under a financial collateral arrangement (within the meaning of regulation 3 of the Financial Collateral Arrangements (No. 2) Regulations 2003 (S.I. 2003/3226)), or</p></content></level><level class="para2"><num>(iii)</num><content><p>steps taken with the permission of the court,</p></content></level></level><level class="para1"><num>(d)</num><content><p>no steps may be taken to repossess goods in the company's possession under any hire-purchase agreement, except with the permission of the court, and</p></content></level><level class="para1"><num>(e)</num><intro><p>no legal process (including legal proceedings, execution, distress or diligence) may be instituted, carried out or continued against the company or its property except—</p></intro><level class="para2"><num>(i)</num><content><p>employment tribunal proceedings or any legal process arising out of such proceedings,</p></content></level><level class="para2"><num>(ii)</num><content><p>proceedings, not within sub-paragraph (i), involving a claim between an employer and a worker, or</p></content></level><level class="para2"><num>(iii)</num><content><p>a legal process instituted, carried out or continued with the permission of the court.</p></content></level></level></subsection><subsection><num>(2)</num><content><p>An application may not be made for permission under subsection (1) for the purposes of enforcing a pre-moratorium debt for which the company has a payment holiday during the moratorium.</p></content></subsection><subsection><num>(3)</num><intro><p>An application may not be made for permission under subsection (1)(c), (d) or (e) with a view to obtaining—</p></intro><level class="para1"><num>(a)</num><content><p>the crystallisation of a floating charge, or</p></content></level><level class="para1"><num>(b)</num><content><p>the imposition, by virtue of provision in an instrument creating a floating charge, of any restriction on the disposal of any property of the company.</p></content></level></subsection><subsection><num>(4)</num><content><p>Permission of the court under subsection (1) may be given subject to conditions.</p></content></subsection><subsection><num>(5)</num><content><p>Subsection (1)(c)(iii) is subject to section A23(1).</p></content></subsection><subsection><num>(6)</num><intro><p>In this section—</p></intro><hcontainer name="definition"><content><p>agency worker has the meaning given by section 13(2) of the Employment Relations Act 1999;</p></content></hcontainer><hcontainer name="definition"><intro><p>employer—</p></intro><level class="para1"><num>(a)</num><content><p>in relation to an agency worker, has the meaning given by section 13(2) of the Employment Relations Act 1999;</p></content></level><level class="para1"><num>(b)</num><content><p>otherwise, has the meaning given by section 230(4) of the Employment Rights Act 1996;</p></content></level></hcontainer><hcontainer name="definition"><intro><p>worker means an individual who is—</p></intro><level class="para1"><num>(a)</num><content><p>a worker within the meaning of section 230(3) of the Employment Rights Act 1996, or</p></content></level><level class="para1"><num>(b)</num><content><p>an agency worker.</p></content></level></hcontainer></subsection></section><section><num>A22</num><heading>Floating charges</heading><subsection><num>(1)</num><content><p>This section applies where there is an uncrystallised floating charge on the property of a company for which a moratorium is in force.</p></content></subsection><subsection><num>(2)</num><intro><p>During the moratorium, the holder of the floating charge may not give any notice which would have the effect of—</p></intro><level class="para1"><num>(a)</num><content><p>causing the floating charge to crystallise, or</p></content></level><level class="para1"><num>(b)</num><content><p>causing the imposition, by virtue of provision in the instrument creating the charge, of any restriction on the disposal of property of the company.</p></content></level></subsection><subsection><num>(3)</num><content><p>No other event occurring during the moratorium is to have the effect mentioned in subsection (2)(a) or (b).</p></content></subsection><subsection><num>(4)</num><intro><p>Subsection (5) applies where—</p></intro><level class="para1"><num>(a)</num><content><p>the holder of a floating charge (the chargee) is prevented by subsection (2) from giving a notice mentioned there during the moratorium, and</p></content></level><level class="para1"><num>(b)</num><content><p>under the terms of the floating charge, the time for giving such a notice ends during the moratorium or before the chargee is given notice of the end of the moratorium under section A17.</p></content></level></subsection><subsection><num>(5)</num><intro><p>The chargee may give notice later than is required under the terms of the floating charge, but only if the chargee does so as soon as is practicable after—</p></intro><level class="para1"><num>(a)</num><content><p>the end of the moratorium, or</p></content></level><level class="para1"><num>(b)</num><content><p>if later, the day on which the chargee is notified of the end of the moratorium.</p></content></level></subsection><subsection><num>(6)</num><intro><p>Where—</p></intro><level class="para1"><num>(a)</num><content><p>subsection (3) prevents an event which occurs during the moratorium from having the effect mentioned there, and</p></content></level><level class="para1"><num>(b)</num><intro><p>the holder of the floating charge gives notice of the event to the company as soon as is practicable after—</p></intro><level class="para2"><num>(i)</num><content><p>the end of the moratorium, or</p></content></level><level class="para2"><num>(ii)</num><content><p>if later, the day on which the chargee is notified of the end of the moratorium,</p></content></level></level><wrapUp><p>the event is to be treated as if it had occurred when the notice was given.</p></wrapUp></subsection><subsection><num>(7)</num><intro><p>This section does not apply in relation to a floating charge that is—</p></intro><level class="para1"><num>(a)</num><content><p>a collateral security (as defined by section A27);</p></content></level><level class="para1"><num>(b)</num><content><p>a market charge (as defined by section A27);</p></content></level><level class="para1"><num>(c)</num><content><p>a security financial collateral arrangement (within the meaning of regulation 3 of the Financial Collateral Arrangements (No. 2) Regulations 2003 (S.I. 2003/3226));</p></content></level><level class="para1"><num>(d)</num><content><p>a system-charge (as defined by section A27).</p></content></level></subsection></section><section><num>A23</num><heading>Enforcement of security granted during moratorium</heading><subsection><num>(1)</num><content><p>Security granted by a company during a moratorium in relation to the company may be enforced only if the monitor consented to the grant of security under section A26.</p></content></subsection><subsection><num>(2)</num><content><p>See also section A21(1)(c), which restricts enforcement during a moratorium.</p></content></subsection></section></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Notification of insolvency proceedings</i></heading><section><num>A24</num><heading>Duty of directors to notify monitor of insolvency proceedings etc</heading><subsection><num>(1)</num><intro><p>The directors of a company must notify the monitor before taking any of the following steps during a moratorium—</p></intro><level class="para1"><num>(a)</num><content><p>presenting a petition for the winding up of the company;</p></content></level><level class="para1"><num>(b)</num><content><p>making an administration application in respect of the company;</p></content></level><level class="para1"><num>(c)</num><content><p>appointing an administrator under paragraph 22(2) of Schedule B1.</p></content></level></subsection><subsection><num>(2)</num><content><p>The directors of a company must notify the monitor if, during a moratorium for the company, they recommend that the company passes a resolution for voluntary winding up under section 84(1)(b).</p></content></subsection><subsection><num>(3)</num><content><p>The rules may make provision about the timing of a notice required to be given under subsection (1) or (2).</p></content></subsection><subsection><num>(4)</num><content><p>If the directors fail to comply with subsection (1) or (2), any director who did not have a reasonable excuse for the failure commits an offence.</p></content></subsection></section></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Restrictions on transactions</i></heading><section><num>A25</num><heading>Restrictions on obtaining credit</heading><subsection><num>(1)</num><content><p>During a moratorium, the company may not obtain credit to the extent of £500 or more from a person unless the person has been informed that a moratorium is in force in relation to the company.</p></content></subsection><subsection><num>(2)</num><intro><p>The reference to the company obtaining credit includes—</p></intro><level class="para1"><num>(a)</num><content><p>the company entering into a conditional sale agreement in accordance with which goods are to be sold to the company,</p></content></level><level class="para1"><num>(b)</num><content><p>the company entering into any other form of hire-purchase agreement under which goods are to be bailed (in Scotland, hired) to the company, and</p></content></level><level class="para1"><num>(c)</num><content><p>the company being paid in advance (whether in money or otherwise) for the supply of goods or services.</p></content></level></subsection><subsection><num>(3)</num><intro><p>If a company contravenes subsection (1)—</p></intro><level class="para1"><num>(a)</num><content><p>the company commits an offence, and</p></content></level><level class="para1"><num>(b)</num><content><p>any officer of the company who without reasonable excuse authorised or permitted the obtaining of the credit commits an offence.</p></content></level></subsection></section><section><num>A26</num><heading>Restrictions on grant of security etc</heading><subsection><num>(1)</num><content><p>During a moratorium, the company may grant security over its property only if the monitor consents.</p></content></subsection><subsection><num>(2)</num><content><p>The monitor may give consent under subsection (1) only if the monitor thinks that the grant of security will support the rescue of the company as a going concern.</p></content></subsection><subsection><num>(3)</num><content><p>In deciding whether to give consent under subsection (1), the monitor is entitled to rely on information provided by the company unless the monitor has reason to doubt its accuracy.</p></content></subsection><subsection><num>(4)</num><intro><p>If the company grants security over its property during the moratorium otherwise than as authorised by subsection (1)—</p></intro><level class="para1"><num>(a)</num><content><p>the company commits an offence, and</p></content></level><level class="para1"><num>(b)</num><content><p>any officer of the company who without reasonable excuse authorised or permitted the grant of the security commits an offence.</p></content></level></subsection><subsection><num>(5)</num><content><p>For the consequences of a company granting security over its property in contravention of subsection (1), see also section A23.</p></content></subsection><subsection><num>(6)</num><content><p>The monitor may not give consent under this section if the granting of security is an offence under section A27.</p></content></subsection></section><section><num>A27</num><heading>Prohibition on entering into market contracts etc</heading><subsection><num>(1)</num><intro><p>If a company enters into a transaction to which this section applies during a moratorium for the company—</p></intro><level class="para1"><num>(a)</num><content><p>the company commits an offence, and</p></content></level><level class="para1"><num>(b)</num><content><p>any officer of the company who without reasonable excuse authorised or permitted the company to enter into the transaction commits an offence.</p></content></level></subsection><subsection><num>(2)</num><intro><p>A company enters into a transaction to which this section applies if it—</p></intro><level class="para1"><num>(a)</num><content><p>enters into a market contract,</p></content></level><level class="para1"><num>(b)</num><content><p>enters into a financial collateral arrangement,</p></content></level><level class="para1"><num>(c)</num><content><p>gives a transfer order,</p></content></level><level class="para1"><num>(d)</num><content><p>grants a market charge or a system-charge, or</p></content></level><level class="para1"><num>(e)</num><content><p>provides any collateral security.</p></content></level></subsection><subsection><num>(3)</num><content><p>Where during the moratorium a company enters into a transaction to which this section applies, nothing done by or in pursuance of the transaction is to be treated as done in contravention of any of sections A19, A21, A25, A26 and A28 to A32.</p></content></subsection><subsection><num>(4)</num><intro><p>In this section—</p></intro><hcontainer name="definition"><content><p>collateral security has the same meaning as in the Financial Markets and Insolvency (Settlement Finality) Regulations 1999 (S.I. 1999/2979);</p></content></hcontainer><hcontainer name="definition"><content><p>financial collateral arrangement has the same meaning as in the Financial Collateral Arrangements (No. 2) Regulations 2003 (S.I. 2003/3226);</p></content></hcontainer><hcontainer name="definition"><content><p>market charge has the same meaning as in Part 7 of the Companies Act 1989;</p></content></hcontainer><hcontainer name="definition"><content><p>market contract has the same meaning as in Part 7 of the Companies Act 1989;</p></content></hcontainer><hcontainer name="definition"><content><p>system-charge has the meaning given by the Financial Markets and Insolvency Regulations 1996 (S.I. 1996/1469);</p></content></hcontainer><hcontainer name="definition"><content><p>transfer order has the same meaning as in the Financial Markets and Insolvency (Settlement Finality) Regulations 1999.</p></content></hcontainer></subsection></section></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Restrictions on payments and disposal of property</i></heading><section><num>A28</num><heading>Restrictions on payment of certain pre-moratorium debts</heading><subsection><num>(1)</num><intro><p>During a moratorium, the company may make one or more relevant payments to a person that (in total) exceed the specified maximum amount only if—</p></intro><level class="para1"><num>(a)</num><content><p>the monitor consents,</p></content></level><level class="para1"><num>(b)</num><content><p>the payment is in pursuance of a court order, or</p></content></level><level class="para1"><num>(c)</num><content><p>the payment is required by section A31(3) or A32(3).</p></content></level></subsection><subsection><num>(2)</num><intro><p>In subsection (1)—</p></intro><hcontainer name="definition"><content><p>relevant payments means payments in respect of pre-moratorium debts for which the company has a payment holiday during the moratorium (see section A18);</p></content></hcontainer><hcontainer name="definition"><intro><p>specified maximum amount means an amount equal to the greater of—</p></intro><level class="para1"><num>(a)</num><content><p>£5000, and</p></content></level><level class="para1"><num>(b)</num><content><p>1% of the value of the debts and other liabilities owed by the company to its unsecured creditors when the moratorium began, to the extent that the amount of such debts and liabilities can be ascertained at that time.</p></content></level></hcontainer></subsection><subsection><num>(3)</num><content><p>The monitor may give consent under subsection (1)(a) only if the monitor thinks that it will support the rescue of the company as a going concern.</p></content></subsection><subsection><num>(4)</num><content><p>In deciding whether to give consent under subsection (1)(a), the monitor is entitled to rely on information provided by the company unless the monitor has reason to doubt its accuracy.</p></content></subsection><subsection><num>(5)</num><intro><p>If the company makes a payment to which subsection (1) applies otherwise than as authorised by that subsection—</p></intro><level class="para1"><num>(a)</num><content><p>the company commits an offence, and</p></content></level><level class="para1"><num>(b)</num><content><p>any officer of the company who without reasonable excuse authorised or permitted the payment commits an offence.</p></content></level></subsection></section><section><num>A29</num><heading>Restrictions on disposal of property</heading><subsection><num>(1)</num><content><p>During a moratorium, the company may dispose of its property only if authorised by subsection (2) or (5).</p></content></subsection><subsection><num>(2)</num><intro><p>In the case of property that is not subject to a security interest, the company may dispose of the property if—</p></intro><level class="para1"><num>(a)</num><content><p>the disposal is made in the ordinary way of the company's business,</p></content></level><level class="para1"><num>(b)</num><content><p>the monitor consents, or</p></content></level><level class="para1"><num>(c)</num><content><p>the disposal is in pursuance of a court order.</p></content></level></subsection><subsection><num>(3)</num><content><p>The monitor may give consent under subsection (2)(b) only if the monitor thinks that it will support the rescue of the company as a going concern.</p></content></subsection><subsection><num>(4)</num><content><p>In deciding whether to give consent under subsection (2)(b), the monitor is entitled to rely on information provided by the company unless the monitor has reason to doubt its accuracy.</p></content></subsection><subsection><num>(5)</num><intro><p>In the case of property that is subject to a security interest, the company may dispose of the property if the disposal is in accordance with—</p></intro><level class="para1"><num>(a)</num><content><p>section A31(1), or</p></content></level><level class="para1"><num>(b)</num><content><p>the terms of the security.</p></content></level></subsection><subsection><num>(6)</num><intro><p>If the company disposes of its property during the moratorium otherwise than as authorised by this section—</p></intro><level class="para1"><num>(a)</num><content><p>the company commits an offence, and</p></content></level><level class="para1"><num>(b)</num><content><p>any officer of the company who without reasonable excuse authorised or permitted the disposal commits an offence.</p></content></level></subsection></section><section><num>A30</num><heading>Restrictions on disposal of hire-purchase property</heading><subsection><num>(1)</num><intro><p>During a moratorium, the company may dispose of any goods in the possession of the company under a hire-purchase agreement only if the disposal is in accordance with —</p></intro><level class="para1"><num>(a)</num><content><p>section A32(1), or</p></content></level><level class="para1"><num>(b)</num><content><p>the terms of the agreement.</p></content></level></subsection><subsection><num>(2)</num><intro><p>If the company disposes of goods in the possession of the company under a hire-purchase agreement otherwise than as authorised by subsection (1)—</p></intro><level class="para1"><num>(a)</num><content><p>the company commits an offence, and</p></content></level><level class="para1"><num>(b)</num><content><p>any officer of the company who without reasonable excuse authorised or permitted the disposal commits an offence.</p></content></level></subsection></section></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Disposals of property free from charges etc</i></heading><section><num>A31</num><heading>Disposal of charged property free from charge</heading><subsection><num>(1)</num><content><p>During a moratorium, the company may, with the permission of the court, dispose of property which is subject to a security interest as if it were not subject to the security interest.</p></content></subsection><subsection><num>(2)</num><content><p>The court may give permission under subsection (1) only if the court thinks that it will support the rescue of the company as a going concern.</p></content></subsection><subsection><num>(3)</num><intro><p>Where the court gives permission under subsection (1) other than in relation to a floating charge, the company must apply the following towards discharging the sums secured—</p></intro><level class="para1"><num>(a)</num><content><p>the net proceeds of disposal of the property, and</p></content></level><level class="para1"><num>(b)</num><content><p>any money required to be added to the net proceeds so as to produce the amount determined by the court as the net amount which would be realised on a sale of the property in the open market by a willing vendor.</p></content></level></subsection><subsection><num>(4)</num><content><p>Where the permission relates to two or more security interests, the condition in subsection (3) requires the application of money in the order of the priorities of the security interests.</p></content></subsection><subsection><num>(5)</num><content><p>Where property subject to a floating charge is disposed of under subsection (1), the holder of the floating charge has the same priority in respect of acquired property as they had in respect of the property disposed of.</p></content></subsection><subsection><num>(6)</num><content><p>In subsection (5)
acquired property means property of the company which directly or indirectly represents the property disposed of.</p></content></subsection><subsection><num>(7)</num><content><p>Where the court makes an order giving permission under subsection (1), the directors must, within the period of 14 days beginning with the date of the order, send a copy of it to the registrar of companies.</p></content></subsection><subsection><num>(8)</num><content><p>If the directors fail to comply with subsection (7), any director who did not have a reasonable excuse for the failure commits an offence.</p></content></subsection><subsection><num>(9)</num><intro><p>Where property in Scotland is disposed of under subsection (1), the company must grant to the disponee an appropriate document of transfer or conveyance of the property, and—</p></intro><level class="para1"><num>(a)</num><content><p>that document, or</p></content></level><level class="para1"><num>(b)</num><content><p>recording, intimation or registration of that document (where recording, intimation or registration of the document is a legal requirement for completion of title to the property),</p></content></level><wrapUp><p>has the effect of disencumbering the property of or, as the case may be, freeing the property from, the security interest.</p></wrapUp></subsection><subsection><num>(10)</num><intro><p>If a company fails to comply with subsection (3) or (9)—</p></intro><level class="para1"><num>(a)</num><content><p>the company commits an offence, and</p></content></level><level class="para1"><num>(b)</num><content><p>any officer of the company who without reasonable excuse authorised or permitted the failure commits an offence.</p></content></level></subsection><subsection><num>(11)</num><content><p>Subsection (1) does not apply in relation to any property which is subject to a financial collateral arrangement, a market charge, a system-charge or a collateral security (as defined by section A27).</p></content></subsection></section><section><num>A32</num><heading>Disposal of hire-purchase property</heading><subsection><num>(1)</num><content><p>During a moratorium, the company may, with the permission of the court, dispose of goods which are in the possession of the company under a hire-purchase agreement as if all of the rights of the owner under the agreement were vested in the company.</p></content></subsection><subsection><num>(2)</num><content><p>The court may give permission under subsection (1) only if the court thinks that it will support the rescue of the company as a going concern.</p></content></subsection><subsection><num>(3)</num><intro><p>Where the court gives permission under subsection (1), the company must apply the following towards discharging the sums payable under the hire-purchase agreement—</p></intro><level class="para1"><num>(a)</num><content><p>the net proceeds of disposal of the goods, and</p></content></level><level class="para1"><num>(b)</num><content><p>any additional money required to be added to the net proceeds so as to produce the amount determined by the court as the net amount which would be realised on a sale of the goods in the open market by a willing vendor.</p></content></level></subsection><subsection><num>(4)</num><intro><p>If a company fails to comply with subsection (3)—</p></intro><level class="para1"><num>(a)</num><content><p>the company commits an offence, and</p></content></level><level class="para1"><num>(b)</num><content><p>any officer of the company who without reasonable excuse authorised or permitted the failure commits an offence.</p></content></level></subsection><subsection><num>(5)</num><content><p>Where the court makes an order giving permission under subsection (1), the directors must, within the period of 14 days beginning with the date of the order, send a copy of it to the registrar of companies.</p></content></subsection><subsection><num>(6)</num><content><p>If the directors fail to comply with subsection (5), any director who did not have a reasonable excuse for the failure commits an offence.</p></content></subsection><subsection><num>(7)</num><content><p>In Scotland, where goods in the possession of the company under a hire-purchase agreement are disposed of under subsection (1), the disposal has the effect of extinguishing, as against the disponee, all rights of the owner of the goods under the agreement.</p></content></subsection></section></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Effect of contravention of certain provisions of Chapter</i></heading><section><num>A33</num><heading>Contravention of certain requirements imposed under this Chapter</heading><intro><p>The fact that a company contravenes section A19 or any of sections A25 to A32 does not—</p></intro><level class="para1"><num>(a)</num><content><p>make any transaction void or unenforceable, or</p></content></level><level class="para1"><num>(b)</num><content><p>affect the validity of any other thing.</p></content></level></section></hcontainer></chapter><chapter><num>CHAPTER 5</num><heading>The monitor</heading><section><num>A34</num><heading>Status of monitor</heading><content><p>The monitor in relation to a moratorium is an officer of the court.</p></content></section><section><num>A35</num><heading>Monitoring</heading><subsection><num>(1)</num><content><p>During a moratorium, the monitor must monitor the company's affairs for the purpose of forming a view as to whether it remains likely that the moratorium will result in the rescue of the company as a going concern.</p></content></subsection><subsection><num>(2)</num><content><p>In forming the view mentioned in subsection (1), the monitor is entitled to rely on information provided by the company, unless the monitor has reason to doubt its accuracy.</p></content></subsection></section><section><num>A36</num><heading>Provision of information to monitor</heading><subsection><num>(1)</num><content><p>The monitor may require the directors of the company to provide any information required by the monitor for the purpose of carrying out the monitor's functions.</p></content></subsection><subsection><num>(2)</num><content><p>The directors must comply with a requirement to provide information as soon as practicable.</p></content></subsection><subsection><num>(3)</num><content><p>For the potential consequences of failing to comply with a requirement to provide information, see section A38.</p></content></subsection></section><section><num>A37</num><heading>Application by monitor for directions</heading><content><p>The monitor in relation to a moratorium may apply to the court for directions about the carrying out of the monitor's functions.</p></content></section><section><num>A38</num><heading>Termination of moratorium by monitor</heading><subsection><num>(1)</num><intro><p>The monitor must bring a moratorium to an end by filing a notice with the court if—</p></intro><level class="para1"><num>(a)</num><content><p>the monitor thinks that the moratorium is no longer likely to result in the rescue of the company as a going concern,</p></content></level><level class="para1"><num>(b)</num><content><p>the monitor thinks that the objective of rescuing the company as a going concern has been achieved,</p></content></level><level class="para1"><num>(c)</num><content><p>the monitor thinks that, by reason of a failure by the directors to comply with a requirement under section A36, the monitor is unable properly to carry out the monitor's functions, or</p></content></level><level class="para1"><num>(d)</num><intro><p>the monitor thinks that the company is unable to pay any of the following that have fallen due—</p></intro><level class="para2"><num>(i)</num><content><p>moratorium debts;</p></content></level><level class="para2"><num>(ii)</num><content><p>pre-moratorium debts for which the company does not have a payment holiday during the moratorium (see section A18).</p></content></level></level></subsection><subsection><num>(2)</num><content><p>The rules may provide for debts that are to be disregarded for the purposes of subsection (1)(d).</p></content></subsection><subsection><num>(3)</num><content><p>On the filing with the court of a notice under subsection (1), the moratorium comes to an end.</p></content></subsection><subsection><num>(4)</num><content><p>The rules may make provision about the timing of a notice required to be given under subsection (1).</p></content></subsection><subsection><num>(5)</num><content><p>The Secretary of State may by regulations amend this section for the purposes of changing the circumstances in which the monitor must bring a moratorium to an end under subsection (1).</p></content></subsection><subsection><num>(6)</num><content><p>Regulations under subsection (5) are subject to the affirmative resolution procedure.</p></content></subsection><subsection><num>(7)</num><content><p>See also section A17 (obligations to notify change in end of moratorium).</p></content></subsection></section><section><num>A39</num><heading>Replacement of monitor or appointment of additional monitor</heading><subsection><num>(1)</num><content><p>The court may make an order authorising the appointment of a qualified person to act as the monitor in relation to a moratorium instead of, or in addition to, a person who already acts as the monitor.</p></content></subsection><subsection><num>(2)</num><content><p>The court may make an order providing that a person ceases to act as the monitor in relation to a moratorium.</p></content></subsection><subsection><num>(3)</num><content><p>An order under subsection (1) or (2) may be made only on an application by the directors or the monitor.</p></content></subsection><subsection><num>(4)</num><intro><p>The court may make an order authorising the appointment of a monitor under subsection (1) only if the person has provided the court with a statement that the person—</p></intro><level class="para1"><num>(a)</num><content><p>is a qualified person, and</p></content></level><level class="para1"><num>(b)</num><content><p>consents to act as the monitor in relation to the moratorium.</p></content></level></subsection><subsection><num>(5)</num><intro><p>Where it is proposed that more than one person should act as the monitor in relation to the moratorium, the statement under subsection (4) must specify—</p></intro><level class="para1"><num>(a)</num><content><p>which functions (if any) are to be exercised by the persons acting jointly, and</p></content></level><level class="para1"><num>(b)</num><content><p>which functions (if any) are to be exercised by any or all of the persons.</p></content></level></subsection><subsection><num>(6)</num><content><p>The rules may make provision about the date on which the statement under subsection (4) must be made.</p></content></subsection><subsection><num>(7)</num><content><p>Where the court makes an order under subsection (1) or (2) the person begins to act as the monitor, or ceases to act as the monitor, in relation to the moratorium at the time specified in, or determined in accordance with, the order (the relevant time).</p></content></subsection><subsection><num>(8)</num><intro><p>As soon as reasonably practicable after the relevant time, the monitor must notify the following of the effect of the order—</p></intro><level class="para1"><num>(a)</num><content><p>the registrar of companies,</p></content></level><level class="para1"><num>(b)</num><content><p>every creditor of the company of whose claim the monitor is aware,</p></content></level><level class="para1"><num>(c)</num><content><p>in a case where the company is or has been an employer in respect of an occupational pension scheme that is not a money purchase scheme, the Pensions Regulator, and</p></content></level><level class="para1"><num>(d)</num><content><p>in a case where the company is an employer in respect of such a pension scheme that is an eligible scheme within the meaning given by section 126 of the Pensions Act 2004, the Board of the Pension Protection Fund.</p></content></level></subsection><subsection><num>(9)</num><content><p>If the monitor without reasonable excuse fails to comply with subsection (8), the monitor commits an offence.</p></content></subsection></section><section><num>A40</num><heading>Application of Part where two or more persons act as monitor</heading><subsection><num>(1)</num><intro><p>Where two or more persons act jointly as the monitor—</p></intro><level class="para1"><num>(a)</num><content><p>a reference in this Act to the monitor is a reference to those persons acting jointly;</p></content></level><level class="para1"><num>(b)</num><intro><p>where an offence of omission is committed by the monitor, each of the persons appointed to act jointly—</p></intro><level class="para2"><num>(i)</num><content><p>commits the offence, and</p></content></level><level class="para2"><num>(ii)</num><content><p>may be proceeded against and punished individually.</p></content></level></level></subsection><subsection><num>(2)</num><content><p>Where persons act jointly in respect of only some of the functions of the monitor, subsection (1) applies only in relation to those functions.</p></content></subsection><subsection><num>(3)</num><content><p>Where two or more persons act concurrently as the monitor a reference in this Act to the monitor is a reference to any of the persons appointed (or any combination of them).</p></content></subsection></section><section><num>A41</num><heading>Presumption of validity</heading><content><p>An act of the monitor is valid in spite of a defect in the monitor's appointment or qualification.</p></content></section></chapter><chapter><num>CHAPTER 6</num><heading>Challenges</heading><section><num>A42</num><heading>Challenge to monitor's actions</heading><subsection><num>(1)</num><content><p>Any of the persons specified below may apply to the court on the ground that an act, omission or decision of the monitor during a moratorium has unfairly harmed the interests of the applicant.</p></content></subsection><subsection><num>(2)</num><intro><p>The persons who may apply are—</p></intro><level class="para1"><num>(a)</num><content><p>a creditor, director or member of the company, or</p></content></level><level class="para1"><num>(b)</num><content><p>any other person affected by the moratorium.</p></content></level></subsection><subsection><num>(3)</num><content><p>An application under subsection (1) may be made during the moratorium or after it has ended.</p></content></subsection><subsection><num>(4)</num><intro><p>On an application under subsection (1) the court may—</p></intro><level class="para1"><num>(a)</num><content><p>confirm, reverse or modify any act or decision of the monitor,</p></content></level><level class="para1"><num>(b)</num><content><p>give the monitor directions, or</p></content></level><level class="para1"><num>(c)</num><content><p>make such other order as it thinks fit (but may not, under this paragraph, order the monitor to pay any compensation).</p></content></level></subsection><subsection><num>(5)</num><content><p>Where an application under subsection (1) relates to a failure by the monitor to bring the moratorium to an end under section A38(1), an order under subsection (4) may, in particular, bring the moratorium to an end and make such consequential provision as the court thinks fit.</p></content></subsection><subsection><num>(6)</num><content><p>Where an application under subsection (1) relates to the monitor bringing a moratorium to an end under section A38(1), an order under subsection (4) may, in particular, provide that the moratorium is not to be taken into account for the purposes of paragraph 2(1)(b) of Schedule ZA1 (company not eligible for moratorium if moratorium in force within previous 12 months).</p></content></subsection><subsection><num>(7)</num><content><p>In making an order under subsection (4) the court must have regard to the need to safeguard the interests of persons who have dealt with the company in good faith and for value.</p></content></subsection><subsection><num>(8)</num><content><p>See also section A17 (obligations to notify change in end of moratorium).</p></content></subsection></section><section><num>A43</num><heading>Challenges to monitor remuneration in insolvency proceedings</heading><subsection><num>(1)</num><content><p>The rules may confer on an administrator or liquidator of a company the right to apply to the court on the ground that remuneration charged by the monitor in relation to a prior moratorium for the company was excessive.</p></content></subsection><subsection><num>(2)</num><intro><p>Rules under subsection (1) may (among other things) make provision as to—</p></intro><level class="para1"><num>(a)</num><content><p>time limits;</p></content></level><level class="para1"><num>(b)</num><content><p>disposals available to the court;</p></content></level><level class="para1"><num>(c)</num><content><p>the treatment of costs (or, in Scotland, the expenses) of the application in the administration or winding up.</p></content></level></subsection></section><section><num>A44</num><heading>Challenge to directors' actions</heading><subsection><num>(1)</num><intro><p>A creditor or member of a company may apply to the court for an order under this section on the ground that—</p></intro><level class="para1"><num>(a)</num><content><p>during a moratorium, the company's affairs, business and property are being or have been managed by the directors in a manner which has unfairly harmed the interests of its creditors or members generally or of some part of its creditors or members (including at least the applicant), or</p></content></level><level class="para1"><num>(b)</num><content><p>any actual or proposed act or omission of the directors during a moratorium causes or would cause such harm.</p></content></level></subsection><subsection><num>(2)</num><content><p>An application under subsection (1) may be made during the moratorium or after it has ended.</p></content></subsection><subsection><num>(3)</num><content><p>On an application under subsection (1) the court may make such order as it thinks fit.</p></content></subsection><subsection><num>(4)</num><intro><p>An order under subsection (3) may in particular—</p></intro><level class="para1"><num>(a)</num><content><p>regulate the management by the directors of the company's affairs, business and property during the remainder of the moratorium,</p></content></level><level class="para1"><num>(b)</num><content><p>require the directors to refrain from doing or continuing an act complained of by the applicant or to do an act which the applicant has complained they have omitted to do,</p></content></level><level class="para1"><num>(c)</num><content><p>require a decision of the company's creditors to be sought (using a qualifying decision procedure) on such matters as the court may direct, or</p></content></level><level class="para1"><num>(d)</num><content><p>bring the moratorium to an end and make such consequential provision as the court thinks fit.</p></content></level></subsection><subsection><num>(5)</num><content><p>In making an order under subsection (3) the court must have regard to the need to safeguard the interests of persons who have dealt with the company in good faith and for value.</p></content></subsection><subsection><num>(6)</num><content><p>See also section A17 (obligations to notify change in end of moratorium).</p></content></subsection></section><section><num>A45</num><heading>Challenge brought by Board of the Pension Protection Fund</heading><subsection><num>(1)</num><intro><p>This section applies where—</p></intro><level class="para1"><num>(a)</num><intro><p>a moratorium—</p></intro><level class="para2"><num>(i)</num><content><p>is in force in relation to a company that is an employer in respect of an eligible scheme, or</p></content></level><level class="para2"><num>(ii)</num><content><p>is or has been in force in relation to a company that has been an employer in respect of an eligible scheme at any time during the moratorium, and</p></content></level></level><level class="para1"><num>(b)</num><content><p>the trustees or managers of the scheme are a creditor of the company.</p></content></level></subsection><subsection><num>(2)</num><content><p>The Board of the Pension Protection Fund may make any application under section A42(1) or A44(1) that could be made by the trustees or managers as a creditor.</p></content></subsection><subsection><num>(3)</num><content><p>For the purposes of such an application, any reference in section A42(1) or A44(1) to the interests of the applicant is to be read as a reference to the interests of the trustees or managers as a creditor.</p></content></subsection><subsection><num>(4)</num><content><p>In this section eligible scheme has the meaning given by section 126 of the Pensions Act 2004.</p></content></subsection></section></chapter><chapter><num>CHAPTER 7</num><heading>Offences: general</heading><section><num>A46</num><heading>Offence of fraud etc during or in anticipation of moratorium</heading><subsection><num>(1)</num><intro><p>An officer of a company commits an offence if, during a moratorium for the company or at any time within the period of 12 months ending with the day on which a moratorium for the company comes into force, the officer—</p></intro><level class="para1"><num>(a)</num><content><p>does any of the things mentioned in subsection (2), or</p></content></level><level class="para1"><num>(b)</num><content><p>was privy to the doing by others of any of the things mentioned in subsection (2)(c), (d) and (e).</p></content></level></subsection><subsection><num>(2)</num><intro><p>Those things are—</p></intro><level class="para1"><num>(a)</num><content><p>concealing any part of the company's property to the value of £500 or more, or concealing any debt due to or from the company,</p></content></level><level class="para1"><num>(b)</num><content><p>fraudulently removing any part of the company's property to the value of £500 or more,</p></content></level><level class="para1"><num>(c)</num><content><p>concealing, destroying, mutilating or falsifying any document affecting or relating to the company's property or affairs,</p></content></level><level class="para1"><num>(d)</num><content><p>making any false entry in any document affecting or relating to the company's property or affairs,</p></content></level><level class="para1"><num>(e)</num><content><p>fraudulently parting with, altering or making any omission in any document affecting or relating to the company's property or affairs, or</p></content></level><level class="para1"><num>(f)</num><content><p>pawning, pledging or disposing of any property of the company which has been obtained on credit and has not been paid for (unless the pawning, pledging or disposal was in the ordinary way of the company's business).</p></content></level></subsection><subsection><num>(3)</num><intro><p>It is a defence—</p></intro><level class="para1"><num>(a)</num><content><p>for a person charged with an offence under subsection (1) in respect of any of the things mentioned in subsection (2)(a) or (f) to prove that the person had no intent to defraud, and</p></content></level><level class="para1"><num>(b)</num><content><p>for a person charged with an offence under subsection (1) in respect of any of the things mentioned in subsection (2)(c) or (d) to prove that the person had no intent to conceal the state of affairs of the company or to defeat the law.</p></content></level></subsection><subsection><num>(4)</num><intro><p>Where a person pawns, pledges or disposes of any property of a company in circumstances which amount to an offence under subsection (1), every person who takes in pawn or pledge, or otherwise receives, the property commits an offence if the person knows it to be pawned, pledged or disposed of in circumstances which—</p></intro><level class="para1"><num>(a)</num><content><p>amount to an offence under subsection (1), or</p></content></level><level class="para1"><num>(b)</num><content><p>would, if a moratorium were obtained for the company within the period of 12 months beginning with the day on which the pawning, pledging or disposal took place, amount to an offence under subsection (1).</p></content></level></subsection><subsection><num>(5)</num><content><p>In this section, officer includes a shadow director.</p></content></subsection></section><section><num>A47</num><heading>Offence of false representation etc to obtain a moratorium</heading><subsection><num>(1)</num><intro><p>An officer of a company commits an offence if, for the purpose of obtaining a moratorium for the company or an extension of a moratorium for the company, the officer—</p></intro><level class="para1"><num>(a)</num><content><p>makes any false representation, or</p></content></level><level class="para1"><num>(b)</num><content><p>fraudulently does, or omits to do, anything.</p></content></level></subsection><subsection><num>(2)</num><content><p>Subsection (1) applies even if no moratorium or extension is obtained.</p></content></subsection><subsection><num>(3)</num><content><p>In this section, officer includes a shadow director.</p></content></subsection></section><section><num>A48</num><heading>Prosecution of delinquent officers of company</heading><subsection><num>(1)</num><content><p>This section applies where a moratorium has been obtained for a company.</p></content></subsection><subsection><num>(2)</num><intro><p>If it appears to the monitor that any past or present officer of the company has committed an offence in connection with the moratorium, the monitor must forthwith—</p></intro><level class="para1"><num>(a)</num><content><p>report the matter to the appropriate authority, and</p></content></level><level class="para1"><num>(b)</num><content><p>provide the appropriate authority with such information and give the authority such access to and facilities for inspecting and taking copies of documents (being information or documents in the possession or under the control of the monitor and relating to the matter in question) as the authority requires.</p></content></level></subsection><subsection><num>(3)</num><intro><p>In subsection (2), the appropriate authority—</p></intro><level class="para1"><num>(a)</num><content><p>in the case of a company registered in England and Wales, means the Secretary of State,</p></content></level><level class="para1"><num>(b)</num><content><p>in the case of a company registered in Scotland, means the Lord Advocate, and</p></content></level><level class="para1"><num>(c)</num><intro><p>in the case of an unregistered company means—</p></intro><level class="para2"><num>(i)</num><content><p>if it has a principal place of business in England and Wales but not Scotland, the Secretary of State,</p></content></level><level class="para2"><num>(ii)</num><content><p>if it has a principal place of business in Scotland but not England and Wales, the Lord Advocate,</p></content></level><level class="para2"><num>(iii)</num><content><p>if it has a principal place of business in both England and Wales and Scotland, the Secretary of State and the Lord Advocate, and</p></content></level><level class="para2"><num>(iv)</num><content><p>if it does not have a principal place of business in England and Wales or Scotland, the Secretary of State.</p></content></level></level></subsection><subsection><num>(4)</num><content><p>Where a matter is reported to the Secretary of State under subsection (2), the Secretary of State may, for the purpose of investigating the matter and such other matters relating to the affairs of the company as appear to the Secretary of State to require investigation, exercise any of the powers which are exercisable by inspectors appointed under section 431 or 432 of the Companies Act 1985.</p></content></subsection><subsection><num>(5)</num><content><p>For the purpose of such an investigation any obligation imposed on a person by any provision of the Companies Acts to produce documents or give information to, or otherwise to assist, inspectors so appointed is to be regarded as an obligation similarly to assist the Secretary of State in the Secretary of State's investigation.</p></content></subsection><subsection><num>(6)</num><content><p>Where a question is put to a person in exercise of the powers conferred by subsection (4), the person's answer may be used in evidence against them.</p></content></subsection><subsection><num>(7)</num><intro><p>However, in criminal proceedings in which the person is charged with an offence other than a false statement offence—</p></intro><level class="para1"><num>(a)</num><content><p>no evidence relating to the answer may be adduced, and</p></content></level><level class="para1"><num>(b)</num><content><p>no question relating to it may be asked,</p></content></level><wrapUp><p>by or on behalf of the prosecution, unless evidence relating to it is adduced, or a question relating to it is asked, in the proceedings by or on behalf of the person.</p></wrapUp></subsection><subsection><num>(8)</num><intro><p>In subsection (7)
false statement offence means—</p></intro><level class="para1"><num>(a)</num><content><p>an offence under section 2 or 5 of the Perjury Act 1911 (false statements made on oath otherwise than in judicial proceedings or made otherwise than on oath), or</p></content></level><level class="para1"><num>(b)</num><content><p>an offence under section 44(1) or (2) of the Criminal Law (Consolidation)
(Scotland) Act 1995 (false statements made on oath or otherwise than on oath).</p></content></level></subsection><subsection><num>(9)</num><content><p>Where a prosecuting authority institutes criminal proceedings following any report under subsection (2), the monitor, and every officer and agent of the company past and present (other than the defendant or defender), must give the authority all assistance in connection with the prosecution which they are reasonably able to give.</p></content></subsection><subsection><num>(10)</num><intro><p>For this purpose—</p></intro><hcontainer name="definition"><content><p>agent includes any banker or solicitor of the company and any person employed by the company as auditor, whether that person is or is not an officer of the company;</p></content></hcontainer><hcontainer name="definition"><content><p>prosecuting authority means the Director of Public Prosecutions, the Lord Advocate or the Secretary of State.</p></content></hcontainer></subsection><subsection><num>(11)</num><content><p>The court may, on the application of the prosecuting authority, direct a person who has failed to comply with subsection (9) to comply with it.</p></content></subsection></section></chapter><chapter><num>CHAPTER 8</num><heading>Miscellaneous and general</heading><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Special rules for certain kinds of company etc</i></heading><section><num>A49</num><heading>Regulated companies: modifications to this Part</heading><subsection><num>(1)</num><content><p>For the purposes of sections A3 and A4 as they apply in relation to a regulated company, section A6(1) has effect as if the documents listed there included a reference to the written consent of the appropriate regulator to the appointment of the proposed monitor.</p></content></subsection><subsection><num>(2)</num><content><p>The remaining provisions of this section apply in relation to a moratorium for a regulated company.</p></content></subsection><subsection><num>(3)</num><content><p>Any notice under section A8(2), A17(2) to (4) or A39(8) must also be sent by the monitor to the appropriate regulator.</p></content></subsection><subsection><num>(4)</num><content><p>The directors must give the appropriate regulator notice of any qualifying decision procedure by which a decision of the company's creditors is sought for the purposes of section A12(2) or A44(4)(c).</p></content></subsection><subsection><num>(5)</num><content><p>If the directors fail to comply with subsection (4), any director who did not have a reasonable excuse for the failure commits an offence.</p></content></subsection><subsection><num>(6)</num><content><p>The appropriate regulator, or a person appointed by the appropriate regulator, may in the way provided for by the rules, participate (but not vote) in any qualifying decision procedure by which a decision of the company's creditors is sought for the purposes of this Part.</p></content></subsection><subsection><num>(7)</num><content><p>The appropriate regulator is entitled to be heard on any application to the court for permission under section A31(1) or A32(1)
(disposal of charged property, etc).</p></content></subsection><subsection><num>(8)</num><content><p>The court may make an order under section A39(1) only if the appropriate regulator has given its written consent to the appointment of the proposed monitor.</p></content></subsection><subsection><num>(9)</num><content><p>The persons who may apply to the court under section A39(3), A42(1) or A44(1) include the appropriate regulator.</p></content></subsection><subsection><num>(10)</num><content><p>If a person other than a regulator applies to the court under section A39(3), A42(1) or A44(1) the appropriate regulator is entitled to be heard on the application.</p></content></subsection><subsection><num>(11)</num><content><p>If either regulator makes an application to the court under section A39(3), A42(1) or A44(1) in relation to a PRA-regulated company, the other regulator is entitled to be heard on the application.</p></content></subsection><subsection><num>(12)</num><content><p>This section does not affect any right that the appropriate regulator has (apart from this section) as a creditor of a regulated company.</p></content></subsection><subsection><num>(13)</num><intro><p>In this section—</p></intro><hcontainer name="definition"><intro><p>the appropriate regulator means—</p></intro><level class="para1"><num>(a)</num><content><p>where the regulated company is a PRA-regulated company, each of the Financial Conduct Authority and the Prudential Regulation Authority, and</p></content></level><level class="para1"><num>(b)</num><content><p>where the regulated company is not a PRA-regulated company, the Financial Conduct Authority;</p></content></level></hcontainer><hcontainer name="definition"><content><p>PRA-authorised person has the meaning given by section 2B(5) of the Financial Services and Markets Act 2000;</p></content></hcontainer><hcontainer name="definition"><intro><p>PRA-regulated company means a regulated company which—</p></intro><level class="para1"><num>(a)</num><content><p>is, or has been, a PRA-authorised person,</p></content></level><level class="para1"><num>(b)</num><content><p>is, or has been, an appointed representative within the meaning given by section 39 of the Financial Services and Markets Act 2000, whose principal (or one of whose principals) is, or was, a PRA-authorised person, or</p></content></level><level class="para1"><num>(c)</num><content><p>is carrying on, or has carried on, a PRA-regulated activity (within the meaning of section 22A of that Act) in contravention of the general prohibition;</p></content></level></hcontainer><hcontainer name="definition"><content><p>regulated activity has the meaning given by section 22 of the Financial Services and Markets Act 2000, taken with Schedule 2 to that Act and any order under that section;</p></content></hcontainer><hcontainer name="definition"><intro><p>regulated company means a company which—</p></intro><level class="para1"><num>(a)</num><content><p>is, or has been, an authorised person within the meaning given by section 31 of the Financial Services and Markets Act 2000,</p></content></level><level class="para1"><num>(b)</num><content><p>is, or has been, an appointed representative within the meaning given by section 39 of that Act, or</p></content></level><level class="para1"><num>(c)</num><content><p>is carrying on, or has carried on, a regulated activity in contravention of the general prohibition within the meaning given by section 19 of that Act;</p></content></level></hcontainer><hcontainer name="definition"><content><p>regulator means the Financial Conduct Authority or the Prudential Regulation Authority.</p></content></hcontainer></subsection><subsection><num>(14)</num><content><p>The Secretary of State may by regulations amend this section for the purposes of changing the definition of regulated company in subsection (13).</p></content></subsection><subsection><num>(15)</num><content><p>Regulations under subsection (14) are subject to the affirmative resolution procedure.</p></content></subsection></section><section><num>A50</num><heading>Power to modify this Part etc in relation to certain companies</heading><subsection><num>(1)</num><intro><p>The Secretary of State may by regulations make provision under the law of England and Wales or Scotland—</p></intro><level class="para1"><num>(a)</num><content><p>to modify this Part as it applies in relation to a company for which there is a special administration regime, or</p></content></level><level class="para1"><num>(b)</num><content><p>in connection with the interaction between this Part and any other insolvency procedure in relation to such a company.</p></content></level></subsection><subsection><num>(2)</num><intro><p>The Welsh Ministers may by regulations make provision under the law of England and Wales—</p></intro><level class="para1"><num>(a)</num><content><p>to modify this Part as it applies in relation to a company that is a social landlord registered under Part 1 of the Housing Act 1996, or</p></content></level><level class="para1"><num>(b)</num><content><p>make provision in connection with the interaction between this Part and any other insolvency procedure in relation to such a company.</p></content></level></subsection><subsection><num>(3)</num><intro><p>The Scottish Ministers may by regulations make provision under the law of Scotland—</p></intro><level class="para1"><num>(a)</num><content><p>to modify this Part as it applies in relation to a company that is a social landlord registered under Part 2 of the Housing (Scotland) Act 2010 (asp 17), or</p></content></level><level class="para1"><num>(b)</num><content><p>make provision in connection with the interaction between this Part and any other insolvency procedure in relation to such a company.</p></content></level></subsection><subsection><num>(4)</num><content><p>The Secretary of State may, by regulations, make any provision under the law of England and Wales, Scotland or Northern Ireland that appears to the Secretary of State to be appropriate in view of provision made under subsection (1), (2) or (3).</p></content></subsection><subsection><num>(5)</num><content><p>The power in subsection (1), (2), (3) or (4) may, in particular, be used to amend, repeal, revoke or otherwise modify any provision made by an enactment.</p></content></subsection><subsection><num>(6)</num><content><p>Regulations under subsection (1) or (4) are subject to the affirmative resolution procedure.</p></content></subsection><subsection><num>(7)</num><content><p>A statutory instrument containing regulations under subsection (2) may not be made unless a draft of the statutory instrument containing them has been laid before and approved by a resolution of Senedd Cymru.</p></content></subsection><subsection><num>(8)</num><content><p>Regulations made by the Scottish Ministers under subsection (3) are subject to the affirmative procedure (see section 29 of the Interpretation and Legislative Reform (Scotland) Act 2010 (asp 10)).</p></content></subsection><subsection><num>(9)</num><intro><p>In this section—</p></intro><hcontainer name="definition"><intro><p>insolvency procedure includes—</p></intro><level class="para1"><num>(a)</num><content><p>in relation to subsection (1)(b), the provision made by sections 143A to 159 of the Housing and Regeneration Act 2008;</p></content></level><level class="para1"><num>(b)</num><content><p>in relation to subsection (2)(b), the provision made by sections 39 to 50 of the Housing Act 1996;</p></content></level><level class="para1"><num>(c)</num><content><p>in relation to subsection (3)(b), the provision made by Part 7 of the Housing (Scotland) Act 2010;</p></content></level></hcontainer><hcontainer name="definition"><content><p>ordinary administration means the insolvency procedure provided for by Schedule B1;</p></content></hcontainer><hcontainer name="definition"><intro><p>special administration regime means provision made by an enactment for an insolvency procedure that—</p></intro><level class="para1"><num>(a)</num><content><p>is similar or corresponds to ordinary administration, and</p></content></level><level class="para1"><num>(b)</num><content><p>provides for the administrator to have one or more special objectives instead of or in addition to the objectives of ordinary administration.</p></content></level></hcontainer></subsection></section><section><num>A51</num><heading>Power to make provision in connection with pension schemes</heading><subsection><num>(1)</num><intro><p>The Secretary of State may by regulations provide that, in a case where—</p></intro><level class="para1"><num>(a)</num><intro><p>a moratorium—</p></intro><level class="para2"><num>(i)</num><content><p>is in force in relation to a company that is an employer in respect of an eligible scheme, or</p></content></level><level class="para2"><num>(ii)</num><content><p>is or has been in force in relation to a company that has been an employer in respect of an eligible scheme at any time during the moratorium, and</p></content></level></level><level class="para1"><num>(b)</num><content><p>the trustees or managers of the scheme are a creditor of the company,</p></content></level><wrapUp><p>the Board of the Pension Protection Fund may exercise any of the following rights.</p></wrapUp></subsection><subsection><num>(2)</num><intro><p>The rights are those which are exercisable by the trustees or managers as a creditor of the company under or by virtue of—</p></intro><level class="para1"><num>(a)</num><content><p>section A12, or</p></content></level><level class="para1"><num>(b)</num><content><p>a court order under section A44(4)(c).</p></content></level></subsection><subsection><num>(3)</num><intro><p>Regulations under subsection (1) may provide that the Board may exercise any such rights—</p></intro><level class="para1"><num>(a)</num><content><p>to the exclusion of the trustees or managers of the scheme, or</p></content></level><level class="para1"><num>(b)</num><content><p>in addition to the exercise of those rights by the trustees or managers of the scheme.</p></content></level></subsection><subsection><num>(4)</num><intro><p>Regulations under subsection (1)—</p></intro><level class="para1"><num>(a)</num><content><p>may specify conditions that must be met before the Board may exercise any such rights;</p></content></level><level class="para1"><num>(b)</num><content><p>may provide for any such rights to be exercisable by the Board for a specified period;</p></content></level><level class="para1"><num>(c)</num><content><p>may make provision in connection with any such rights ceasing to be so exercisable at the end of such a period.</p></content></level></subsection><subsection><num>(5)</num><content><p>Regulations under subsection (1) are subject to the affirmative resolution procedure.</p></content></subsection><subsection><num>(6)</num><content><p>In this section eligible scheme has the meaning given by section 126 of the Pensions Act 2004.</p></content></subsection></section></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Floating charges</i></heading><section><num>A52</num><heading>Void provisions in floating charge documents</heading><subsection><num>(1)</num><intro><p>A provision in an instrument creating a floating charge is void if it provides for the obtaining of a moratorium, or anything done with a view to obtaining a moratorium, to be—</p></intro><level class="para1"><num>(a)</num><content><p>an event causing the floating charge to crystallise,</p></content></level><level class="para1"><num>(b)</num><content><p>an event causing restrictions which would not otherwise apply to be imposed on the disposal of property by the company, or</p></content></level><level class="para1"><num>(c)</num><content><p>a ground for the appointment of a receiver.</p></content></level></subsection><subsection><num>(2)</num><content><p>The reference in subsection (1) to anything done with a view to obtaining a moratorium includes any preliminary decision or investigation.</p></content></subsection><subsection><num>(3)</num><content><p>In subsection (1)
receiver includes a manager and a person who is appointed both receiver and manager.</p></content></subsection><subsection><num>(4)</num><intro><p>Subsection (1) does not apply to a provision in an instrument creating a floating charge that is—</p></intro><level class="para1"><num>(a)</num><content><p>a collateral security (as defined by section A27);</p></content></level><level class="para1"><num>(b)</num><content><p>a market charge (as defined by section A27);</p></content></level><level class="para1"><num>(c)</num><content><p>a security financial collateral arrangement (within the meaning of regulation 3 of the Financial Collateral Arrangements (No. 2) Regulations 2003 (S.I. 2003/3226));</p></content></level><level class="para1"><num>(d)</num><content><p>a system-charge (as defined by section A27).</p></content></level></subsection></section></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Interpretation of this Part</i></heading><section><num>A53</num><heading>Meaning of pre-moratorium debt and moratorium debt</heading><subsection><num>(1)</num><intro><p>In this Part pre-moratorium debt, in relation to a company for which a moratorium is or has been in force, means—</p></intro><level class="para1"><num>(a)</num><content><p>any debt or other liability to which the company becomes subject before the moratorium comes into force, or</p></content></level><level class="para1"><num>(b)</num><content><p>any debt or other liability to which the company has become or may become subject during the moratorium by reason of any obligation incurred before the moratorium comes into force,</p></content></level><wrapUp><p>but this is subject to subsection (3).</p></wrapUp></subsection><subsection><num>(2)</num><intro><p>In this Part moratorium debt, in relation to a company for which a moratorium is or has been in force, means—</p></intro><level class="para1"><num>(a)</num><content><p>any debt or other liability to which the company becomes subject during the moratorium, other than by reason of an obligation incurred before the moratorium came into force, or</p></content></level><level class="para1"><num>(b)</num><content><p>any debt or other liability to which the company has become or may become subject after the end of the moratorium by reason of an obligation incurred during the moratorium,</p></content></level><wrapUp><p>but this is subject to subsection (3).</p></wrapUp></subsection><subsection><num>(3)</num><intro><p>For the purposes of this Part—</p></intro><level class="para1"><num>(a)</num><intro><p>a liability in tort or delict is a pre-moratorium debt if either—</p></intro><level class="para2"><num>(i)</num><content><p>the cause of action has accrued before the moratorium comes into force, or</p></content></level><level class="para2"><num>(ii)</num><content><p>all the elements necessary to establish the cause of action exist before the moratorium comes into force except for actionable damage;</p></content></level></level><level class="para1"><num>(b)</num><intro><p>a liability in tort or delict is a moratorium debt if it does not fall within paragraph (a) and either—</p></intro><level class="para2"><num>(i)</num><content><p>the cause of action has accrued during the moratorium, or</p></content></level><level class="para2"><num>(ii)</num><content><p>all the elements necessary to establish the cause of action exist before the moratorium comes to an end except for actionable damage.</p></content></level></level></subsection><subsection><num>(4)</num><content><p>The Secretary of State may by regulations amend this section for the purposes of changing the definition of pre-moratorium debt or moratorium debt in this Part.</p></content></subsection><subsection><num>(5)</num><content><p>Regulations under subsection (4) are subject to the affirmative resolution procedure.</p></content></subsection></section><section><num>A54</num><heading>Interpretation of this Part: general</heading><subsection><num>(1)</num><intro><p>In this Part—</p></intro><hcontainer name="definition"><intro><p>company means—</p></intro><level class="para1"><num>(a)</num><content><p>a company registered under the Companies Act 2006 in England and Wales or Scotland, or</p></content></level><level class="para1"><num>(b)</num><content><p>an unregistered company that may be wound up under Part 5 of this Act;</p></content></level></hcontainer><hcontainer name="definition"><content><p>the court means such court as is prescribed;</p></content></hcontainer><hcontainer name="definition"><content><p>eligible, in relation to a company, has the meaning given by Schedule ZA1;</p></content></hcontainer><hcontainer name="definition"><intro><p>employer, in relation to a pension scheme—</p></intro><level class="para1"><num>(a)</num><content><p>in sections A8(2)(c), A17(8)(c) and A39(8)(c), means an employer within the meaning of section 318(1) of the Pensions Act 2004;</p></content></level><level class="para1"><num>(b)</num><content><p>elsewhere in this Part, has the same meaning that it has for the purposes of Part 2 of the Pensions Act 2004 (see section 318(1) and (4) of that Act);</p></content></level></hcontainer><hcontainer name="definition"><content><p>enactment includes an Act of the Scottish Parliament and an instrument made under such an Act;</p></content></hcontainer><hcontainer name="definition"><content><p>hire-purchase agreement includes a conditional sale agreement, a chattel leasing agreement and a retention of title agreement;</p></content></hcontainer><hcontainer name="definition"><content><p>liability means (subject to subsection (2)) a liability to pay money or money's worth, including any liability under an enactment, a liability for breach of trust, any liability in contract, tort, delict or bailment, and any liability arising out of an obligation to make restitution;</p></content></hcontainer><hcontainer name="definition"><content><p>money purchase scheme has the meaning given by section 181(1) of the Pension Schemes Act 1993;</p></content></hcontainer><hcontainer name="definition"><content><p>the monitor, in relation to a moratorium, means the person who has the functions of the monitor in relation to the moratorium (see also section A40 for cases where two or more persons act as the monitor);</p></content></hcontainer><hcontainer name="definition"><content><p>moratorium means a moratorium under this Part;</p></content></hcontainer><hcontainer name="definition"><content><p>moratorium debt has the meaning given by section A53;</p></content></hcontainer><hcontainer name="definition"><content><p>occupational pension scheme has the meaning given by section 1 of the Pension Schemes Act 1993;</p></content></hcontainer><hcontainer name="definition"><content><p>pension scheme has the meaning given by section 1 of the Pension Schemes Act 1993;</p></content></hcontainer><hcontainer name="definition"><content><p>pre-moratorium debt has the meaning given by section A53;</p></content></hcontainer><hcontainer name="definition"><content><p>qualified person means a person qualified to act as an insolvency practitioner;</p></content></hcontainer><hcontainer name="definition"><intro><p>unable to pay its debts—</p></intro><level class="para1"><num>(a)</num><content><p>in relation to a registered company, has the same meaning as in Part 4 (see section 123);</p></content></level><level class="para1"><num>(b)</num><content><p>in relation to an unregistered company, has the same meaning as in Part 5 (see sections 222 to 224).</p></content></level></hcontainer></subsection><subsection><num>(2)</num><content><p>For the purposes of references in any provision of this Part to a debt or liability it is immaterial whether the debt or liability is present or future, whether it is certain or contingent, or whether its amount is fixed or liquidated, or is capable of being ascertained by fixed rules or as a matter of opinion.</p></content></subsection><subsection><num>(3)</num><content><p>In this Part references to filing a document with the court are, in relation to a court in Scotland, references to lodging it in court.</p></content></subsection><subsection><num>(4)</num><content><p>The Secretary of State may by regulations amend this section for the purposes of changing the definition of qualified person in subsection (1).</p></content></subsection><subsection><num>(5)</num><content><p>Regulations under subsection (4) are subject to the affirmative resolution procedure.</p></content></subsection></section></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Regulations</i></heading><section><num>A55</num><heading>Regulations</heading><subsection><num>(1)</num><intro><p>Regulations under this Part may make—</p></intro><level class="para1"><num>(a)</num><content><p>different provision for different purposes;</p></content></level><level class="para1"><num>(b)</num><content><p>consequential, supplementary, incidental or transitional provision or savings.</p></content></level></subsection><subsection><num>(2)</num><content><p>Regulations under this Part are to be made by statutory instrument, unless they are made by the Scottish Ministers.</p></content></subsection><subsection><num>(3)</num><content><p>Where regulations of the Secretary of State under this Part are subject to the affirmative resolution procedure, they may not be made unless a draft of the statutory instrument containing them has been laid before Parliament and approved by a resolution of each House of Parliament.</p></content></subsection></section></hcontainer></chapter></part></quotedStructure></mod></p></content></subsection><subsection eId="section-1-2"><num>(2)</num><content><p>Schedule 1 inserts into the Insolvency Act 1986 a new Schedule ZA1 (eligible companies).</p></content></subsection><subsection eId="section-1-3"><num>(3)</num><content><p>Schedule 2 inserts into the Insolvency Act 1986 a new Schedule ZA2 (contracts involving financial services).</p></content></subsection></section>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" xmlns:default="http://www.w3.org/1999/xhtml" eId="section-1-1"><num>(1)</num><content><p><mod>In the Insolvency Act 1986, before Part 1 (but within the First Group of Parts) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="unknown" uk:docName="unknown" ukl:TargetClass="unknown" ukl:TargetSubClass="unknown" ukl:Context="unknown" ukl:Format="default"><part><num><b>PART A1</b></num><heading>Moratorium</heading><chapter><num>CHAPTER 1</num><heading>Introductory</heading><section><num>A1</num><heading>Overview</heading><subsection><num>(1)</num><content><p>This Part contains provision that enables an eligible company, in certain circumstances, to obtain a moratorium, giving it various protections from creditors set out in this Part.</p></content></subsection><subsection><num>(2)</num><content><p>In this Chapter section A2 introduces Schedule ZA1 (which defines what is meant by an eligible company).</p></content></subsection><subsection><num>(3)</num><content><p>Chapter 2 sets out how an eligible company may obtain a moratorium.</p></content></subsection><subsection><num>(4)</num><content><p>Chapter 3 sets out for how long a moratorium has effect.</p></content></subsection><subsection><num>(5)</num><content><p>Chapter 4 sets out the effects of a moratorium on the company and its creditors.</p></content></subsection><subsection><num>(6)</num><content><p>Chapter 5 contains provision about the monitor.</p></content></subsection><subsection><num>(7)</num><content><p>Chapter 6 contains provision about challenges.</p></content></subsection><subsection><num>(8)</num><content><p>Chapter 7 contains provision about certain offences.</p></content></subsection><subsection><num>(9)</num><intro><p>Chapter 8 contains miscellaneous and general provision, including—</p></intro><level class="para1"><num>(a)</num><content><p>special provision for certain kinds of company;</p></content></level><level class="para1"><num>(b)</num><content><p>definitions for the purposes of this Part;</p></content></level><level class="para1"><num>(c)</num><content><p>provision about regulations under this Part.</p></content></level></subsection></section><section><num>A2</num><heading>Eligible companies</heading><content><p>Schedule ZA1 contains provision for determining whether a company is an eligible company for the purposes of this Part.</p></content></section></chapter><chapter><num>CHAPTER 2</num><heading>Obtaining a moratorium</heading><section><num>A3</num><heading>Obtaining a moratorium by filing or lodging documents at court</heading><subsection><num>(1)</num><intro><p>This section applies to an eligible company that—</p></intro><level class="para1"><num>(a)</num><content><p>is not subject to an outstanding winding-up petition, and</p></content></level><level class="para1"><num>(b)</num><content><p>is not an overseas company.</p></content></level></subsection><subsection><num>(2)</num><content><p>The directors of the company may obtain a moratorium for the company by filing the relevant documents with the court (for the relevant documents, see section A6).</p></content></subsection><subsection><num>(3)</num><intro><p>For the purposes of this Chapter a company is subject to an outstanding winding-up petition if—</p></intro><level class="para1"><num>(a)</num><content><p>a petition for the winding up of the company has been presented, and</p></content></level><level class="para1"><num>(b)</num><content><p>the petition has not been withdrawn or determined.</p></content></level></subsection></section><section><num>A4</num><heading>Obtaining a moratorium for company subject to winding-up petition</heading><subsection><num>(1)</num><content><p>This section applies to an eligible company that is subject to an outstanding winding-up petition.</p></content></subsection><subsection><num>(2)</num><content><p>The directors of the company may apply to the court for a moratorium for the company.</p></content></subsection><subsection><num>(3)</num><content><p>The application must be accompanied by the relevant documents (for the relevant documents, see section A6).</p></content></subsection><subsection><num>(4)</num><intro><p>On hearing the application the court may—</p></intro><level class="para1"><num>(a)</num><content><p>make an order that the company should be subject to a moratorium, or</p></content></level><level class="para1"><num>(b)</num><content><p>make any other order which the court thinks appropriate.</p></content></level></subsection><subsection><num>(5)</num><content><p>The court may make an order under subsection (4)(a) only if it is satisfied that a moratorium for the company would achieve a better result for the company's creditors as a whole than would be likely if the company were wound up (without first being subject to a moratorium).</p></content></subsection></section><section><num>A5</num><heading>Obtaining a moratorium for other overseas companies</heading><subsection><num>(1)</num><intro><p>This section applies to an eligible company that—</p></intro><level class="para1"><num>(a)</num><content><p>is not subject to an outstanding winding-up petition, and</p></content></level><level class="para1"><num>(b)</num><content><p>is an overseas company.</p></content></level></subsection><subsection><num>(2)</num><content><p>The directors of the company may apply to the court for a moratorium for the company.</p></content></subsection><subsection><num>(3)</num><content><p>The application must be accompanied by the relevant documents (for the relevant documents, see section A6).</p></content></subsection><subsection><num>(4)</num><intro><p>On hearing the application the court may—</p></intro><level class="para1"><num>(a)</num><content><p>make an order that the company should be subject to a moratorium, or</p></content></level><level class="para1"><num>(b)</num><content><p>make any other order which the court thinks appropriate.</p></content></level></subsection></section><section><num>A6</num><heading>The relevant documents</heading><subsection><num>(1)</num><intro><p>For the purposes of this Chapter, the relevant documents are—</p></intro><level class="para1"><num>(a)</num><content><p>a notice that the directors wish to obtain a moratorium,</p></content></level><level class="para1"><num>(b)</num><intro><p>a statement from a qualified person (the proposed monitor) that the person—</p></intro><level class="para2"><num>(i)</num><content><p>is a qualified person, and</p></content></level><level class="para2"><num>(ii)</num><content><p>consents to act as the monitor in relation to the proposed moratorium,</p></content></level></level><level class="para1"><num>(c)</num><content><p>a statement from the proposed monitor that the company is an eligible company,</p></content></level><level class="para1"><num>(d)</num><content><p>a statement from the directors that, in their view, the company is, or is likely to become, unable to pay its debts, and</p></content></level><level class="para1"><num>(e)</num><content><p>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.</p></content></level></subsection><subsection><num>(2)</num><intro><p>Where it is proposed that more than one person should act as the monitor in relation to the proposed moratorium—</p></intro><level class="para1"><num>(a)</num><content><p>each of them must make a statement under subsection (1)(b), (c) and (e), and</p></content></level><level class="para1"><num>(b)</num><intro><p>the statement under subsection (1)(b) must specify—</p></intro><level class="para2"><num>(i)</num><content><p>which functions (if any) are to be exercised by the persons acting jointly, and</p></content></level><level class="para2"><num>(ii)</num><content><p>which functions (if any) are to be exercised by any or all of the persons.</p></content></level></level></subsection><subsection><num>(3)</num><content><p>The rules may make provision about the date on which a statement comprised in the relevant documents must be made.</p></content></subsection><subsection><num>(4)</num><content><p>The Secretary of State may by regulations amend this section for the purposes of adding to the list of documents in subsection (1).</p></content></subsection><subsection><num>(5)</num><content><p>Regulations under subsection (4) are subject to the affirmative resolution procedure.</p></content></subsection></section><section><num>A7</num><heading>Beginning of moratorium and appointment of monitor</heading><subsection><num>(1)</num><intro><p>A moratorium for a company comes into force at the time at which—</p></intro><level class="para1"><num>(a)</num><content><p>in the case of a company to which section A3 applies, the relevant documents are filed with the court under subsection (2) of that section;</p></content></level><level class="para1"><num>(b)</num><content><p>in the case of a company to which section A4 applies, an order is made under section A4(4)(a);</p></content></level><level class="para1"><num>(c)</num><content><p>in the case of a company to which section A5 applies, an order is made under section A5(4)(a).</p></content></level></subsection><subsection><num>(2)</num><content><p>On the coming into force of a moratorium, the person or persons who made the statement mentioned in section A6(1)(b) become the monitor in relation to the moratorium.</p></content></subsection></section><section><num>A8</num><heading>Obligations to notify where moratorium comes into force</heading><subsection><num>(1)</num><content><p>As soon as reasonably practicable after a moratorium for a company comes into force, the directors must notify the monitor of that fact.</p></content></subsection><subsection><num>(2)</num><intro><p>As soon as reasonably practicable after receiving a notice under subsection (1), the monitor must notify the following that a moratorium for the company has come into force—</p></intro><level class="para1"><num>(a)</num><content><p>the registrar of companies,</p></content></level><level class="para1"><num>(b)</num><content><p>every creditor of the company of whose claim the monitor is aware,</p></content></level><level class="para1"><num>(c)</num><content><p>in a case where the company is or has been an employer in respect of an occupational pension scheme that is not a money purchase scheme, the Pensions Regulator, and</p></content></level><level class="para1"><num>(d)</num><content><p>in a case where the company is an employer in respect of such a pension scheme that is an eligible scheme within the meaning given by section 126 of the Pensions Act 2004, the Board of the Pension Protection Fund.</p></content></level></subsection><subsection><num>(3)</num><intro><p>A notice under subsection (2) must specify—</p></intro><level class="para1"><num>(a)</num><content><p>when the moratorium came into force, and</p></content></level><level class="para1"><num>(b)</num><content><p>when, subject to any alteration under or by virtue of any of the provisions mentioned in section A9(3) or (4), the moratorium will come to an end.</p></content></level></subsection><subsection><num>(4)</num><content><p>If the directors fail to comply with subsection (1), any director who did not have a reasonable excuse for the failure commits an offence.</p></content></subsection><subsection><num>(5)</num><content><p>If the monitor without reasonable excuse fails to comply with subsection (2), the monitor commits an offence.</p></content></subsection></section></chapter><chapter><num>CHAPTER 3</num><heading>Length of moratorium</heading><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Initial period</i></heading><section><num>A9</num><heading>End of the moratorium</heading><subsection><num>(1)</num><content><p>A moratorium ends at the end of the initial period unless it is extended, or comes to an end sooner, under or by virtue of a provision mentioned in subsection (3) or (4).</p></content></subsection><subsection><num>(2)</num><content><p>In this Chapter the initial period, in relation to a moratorium, means the period of 20 business days beginning with the business day after the day on which the moratorium comes into force.</p></content></subsection><subsection><num>(3)</num><content><p>For provision under or by virtue of which a moratorium is or may be extended, see—</p><blockList class="unordered none" ukl:Name="UnorderedList" ukl:Decoration="none"><item><p>section A10 (extension by directors without creditor consent);</p></item><item><p>section A11 (extension by directors with creditor consent);</p></item><item><p>section A13 (extension by court on application of directors);</p></item><item><p>section A14 (extension while proposal for CVA pending);</p></item><item><p>section A15 (extension by court in course of other proceedings).</p></item></blockList></content></subsection><subsection><num>(4)</num><content><p>For provision under or by virtue of which the moratorium is or may be terminated, see—</p><blockList class="unordered none" ukl:Name="UnorderedList" ukl:Decoration="none"><item><p>section A16 (termination on entry into insolvency procedure etc);</p></item><item><p>section A38 (termination by monitor);</p></item><item><p>section A42 or A44 (termination by court).</p></item></blockList></content></subsection><subsection><num>(5)</num><content><p>A moratorium may not be extended under a provision mentioned in subsection (3) once it has come to an end.</p></content></subsection><subsection><num>(6)</num><content><p>Where the application of two or more of the provisions mentioned in subsections (3) and (4) would produce a different length of moratorium, the provision that applies last is to prevail (irrespective of whether that results in a shorter or longer moratorium).</p></content></subsection></section></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Extension of moratorium</i></heading><section><num>A10</num><heading>Extension by directors without creditor consent</heading><subsection><num>(1)</num><intro><p>During the initial period, but after the first 15 business days of that period, the directors may extend the moratorium by filing with the court—</p></intro><level class="para1"><num>(a)</num><content><p>a notice that the directors wish to extend the moratorium,</p></content></level><level class="para1"><num>(b)</num><intro><p>a statement from the directors that all of the following that have fallen due have been paid or otherwise discharged—</p></intro><level class="para2"><num>(i)</num><content><p>moratorium debts, and</p></content></level><level class="para2"><num>(ii)</num><content><p>pre-moratorium debts for which the company does not have a payment holiday during the moratorium (see section A18),</p></content></level></level><level class="para1"><num>(c)</num><content><p>a statement from the directors that, in their view, the company is, or is likely to become, unable to pay its pre-moratorium debts, and</p></content></level><level class="para1"><num>(d)</num><content><p>a statement from the monitor that, in the monitor's view, it is likely that the moratorium will result in the rescue of the company as a going concern.</p></content></level></subsection><subsection><num>(2)</num><content><p>The rules may make provision about the date on which a statement mentioned in subsection (1) must be made.</p></content></subsection><subsection><num>(3)</num><intro><p>On the filing with the court of the documents mentioned in subsection (1), the moratorium is extended so that it ends at the end of the period—</p></intro><level class="para1"><num>(a)</num><content><p>beginning immediately after the initial period ends, and</p></content></level><level class="para1"><num>(b)</num><content><p>ending with the 20th business day after the initial period ends.</p></content></level></subsection></section><section><num>A11</num><heading>Extension by directors with creditor consent</heading><subsection><num>(1)</num><intro><p>At any time after the first 15 business days of the initial period the directors may, if they have obtained creditor consent, extend the moratorium by filing with the court—</p></intro><level class="para1"><num>(a)</num><content><p>a notice that the directors wish to extend the moratorium,</p></content></level><level class="para1"><num>(b)</num><intro><p>a statement from the directors that all of the following that have fallen due have been paid or otherwise discharged—</p></intro><level class="para2"><num>(i)</num><content><p>moratorium debts, and</p></content></level><level class="para2"><num>(ii)</num><content><p>pre-moratorium debts for which the company does not have a payment holiday during the moratorium (see section A18),</p></content></level></level><level class="para1"><num>(c)</num><content><p>a statement from the directors that, in their view, the company is, or is likely to become, unable to pay its pre-moratorium debts,</p></content></level><level class="para1"><num>(d)</num><content><p>a statement from the monitor that, in the monitor's view, it is likely that the moratorium will result in the rescue of the company as a going concern, and</p></content></level><level class="para1"><num>(e)</num><content><p>a statement from the directors that creditor consent has been obtained, and of the revised end date for which that consent was obtained.</p></content></level></subsection><subsection><num>(2)</num><content><p>The rules may make provision about the date on which a statement mentioned in subsection (1) must be made.</p></content></subsection><subsection><num>(3)</num><content><p>On the filing with the court of the documents mentioned in subsection (1), the moratorium is extended so that it ends with the revised end date mentioned in the statement under subsection (1)(e).</p></content></subsection><subsection><num>(4)</num><content><p>A moratorium may be extended under this section more than once.</p></content></subsection></section><section><num>A12</num><heading>Creditor consent for the purposes of section A11</heading><subsection><num>(1)</num><content><p>References in section A11 to creditor consent are to the consent of pre-moratorium creditors to a revised end date for the moratorium.</p></content></subsection><subsection><num>(2)</num><content><p>The decision as to consent is to be made using a qualifying decision procedure.</p></content></subsection><subsection><num>(3)</num><content><p>The revised end date must be a date before the end of the period of one year beginning with the first day of the initial period.</p></content></subsection><subsection><num>(4)</num><intro><p>In this section pre-moratorium creditor means a creditor in respect of a pre-moratorium debt—</p></intro><level class="para1"><num>(a)</num><content><p>for which the company has a payment holiday during the moratorium (see section A18), and</p></content></level><level class="para1"><num>(b)</num><content><p>which has not been paid or otherwise discharged.</p></content></level></subsection><subsection><num>(5)</num><content><p>In determining for the purposes of subsection (4) what counts as a pre-moratorium debt for which the company has a payment holiday during the moratorium, sections A18(3) and A53(1)(b) apply as if the references to the moratorium were to the moratorium as proposed to be extended.</p></content></subsection><subsection><num>(6)</num><content><p>The Secretary of State may by regulations amend this section for the purposes of changing the definition of pre-moratorium creditor.</p></content></subsection><subsection><num>(7)</num><content><p>Regulations under subsection (6) are subject to the affirmative resolution procedure.</p></content></subsection></section><section><num>A13</num><heading>Extension by court on application of directors</heading><subsection><num>(1)</num><content><p>At any time after the first 15 business days of the initial period, the directors may apply to the court for an order that the moratorium be extended.</p></content></subsection><subsection><num>(2)</num><intro><p>The application must be accompanied by—</p></intro><level class="para1"><num>(a)</num><intro><p>a statement from the directors that all of the following that have fallen due have been paid or otherwise discharged—</p></intro><level class="para2"><num>(i)</num><content><p>moratorium debts, and</p></content></level><level class="para2"><num>(ii)</num><content><p>pre-moratorium debts for which the company does not have a payment holiday during the moratorium (see section A18),</p></content></level></level><level class="para1"><num>(b)</num><content><p>a statement from the directors that, in their view, the company is, or is likely to become, unable to pay its pre-moratorium debts,</p></content></level><level class="para1"><num>(c)</num><content><p>a statement from the directors as to whether pre-moratorium creditors (as defined by section A12(4) and (5)) have been consulted about the application and if not why not, and</p></content></level><level class="para1"><num>(d)</num><content><p>a statement from the monitor that, in the monitor's view, it is likely that the moratorium will result in the rescue of the company as a going concern.</p></content></level></subsection><subsection><num>(3)</num><content><p>The rules may make provision about the date on which a statement mentioned in subsection (2) must be made.</p></content></subsection><subsection><num>(4)</num><intro><p>On hearing the application the court may—</p></intro><level class="para1"><num>(a)</num><content><p>make an order that the moratorium be extended to such date as is specified in the order, or</p></content></level><level class="para1"><num>(b)</num><content><p>make any other order which the court thinks appropriate.</p></content></level></subsection><subsection><num>(5)</num><intro><p>In deciding whether to make an order under subsection (4)(a) the court must, in particular, consider the following—</p></intro><level class="para1"><num>(a)</num><content><p>the interests of pre-moratorium creditors, as defined by section A12(4) and (5), and</p></content></level><level class="para1"><num>(b)</num><content><p>the likelihood that the extension of the moratorium will result in the rescue of the company as a going concern.</p></content></level></subsection><subsection><num>(6)</num><intro><p>Subsection (7) applies where—</p></intro><level class="para1"><num>(a)</num><content><p>an application under this section is made, and</p></content></level><level class="para1"><num>(b)</num><content><p>apart from that subsection, the moratorium would end at a time before the application has been disposed of.</p></content></level></subsection><subsection><num>(7)</num><intro><p>The moratorium—</p></intro><level class="para1"><num>(a)</num><content><p>does not end at the time mentioned in subsection (6)(b), and</p></content></level><level class="para1"><num>(b)</num><intro><p>instead, ends—</p></intro><level class="para2"><num>(i)</num><content><p>in a case in which the court makes an order under subsection (4)(a), in accordance with the order;</p></content></level><level class="para2"><num>(ii)</num><content><p>otherwise, when the application is withdrawn or disposed of.</p></content></level></level></subsection><subsection><num>(8)</num><content><p>A moratorium may be extended under this section more than once.</p></content></subsection></section><section><num>A14</num><heading>Extension while proposal for CVA pending</heading><subsection><num>(1)</num><intro><p>Subsection (2) applies where—</p></intro><level class="para1"><num>(a)</num><content><p>at any time, the directors make a proposal under Part 1 (company voluntary arrangements), and</p></content></level><level class="para1"><num>(b)</num><content><p>apart from that subsection, the moratorium would end at a time before the proposal is disposed of.</p></content></level></subsection><subsection><num>(2)</num><intro><p>The moratorium—</p></intro><level class="para1"><num>(a)</num><content><p>does not end at the time mentioned in subsection (1)(b), and</p></content></level><level class="para1"><num>(b)</num><content><p>instead, ends when the proposal is disposed of.</p></content></level></subsection><subsection><num>(3)</num><intro><p>For the purposes of this section a proposal under Part 1 is disposed of when any of the following takes place—</p></intro><level class="para1"><num>(a)</num><content><p>the company and its creditors both decide under section 4 not to approve the voluntary arrangement contained in the proposal;</p></content></level><level class="para1"><num>(b)</num><intro><p>the decisions taken by the company and its creditors under section 4 differ, and—</p></intro><level class="para2"><num>(i)</num><content><p>the period for making an application under section 4A(3) expires and either no application has been made within that period or any application made within that period has been withdrawn, or</p></content></level><level class="para2"><num>(ii)</num><content><p>an application is made under section 4A(3) and that application is disposed of, or it is withdrawn after the expiry of the period for making an application under section 4A(3);</p></content></level></level><level class="para1"><num>(c)</num><content><p>the voluntary arrangement contained in the proposal takes effect under section 5;</p></content></level><level class="para1"><num>(d)</num><content><p>the proposal is withdrawn.</p></content></level></subsection></section><section><num>A15</num><heading>Extension by court in the course of other proceedings</heading><subsection><num>(1)</num><intro><p>Subsection (2) applies where—</p></intro><level class="para1"><num>(a)</num><content><p>an application is made under section 896 or 901C(1) of the Companies Act 2006 (arrangements and reconstructions: court order for holding of meeting) in respect of a company, and</p></content></level><level class="para1"><num>(b)</num><content><p>during proceedings before a court in connection with the application, a moratorium for the company is in force.</p></content></level></subsection><subsection><num>(2)</num><content><p>The court may make an order that the moratorium be extended to such date as is specified in the order.</p></content></subsection></section></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Early termination on certain grounds</i></heading><section><num>A16</num><heading>Company enters into insolvency procedure etc</heading><subsection><num>(1)</num><intro><p>A moratorium comes to an end at any time at which the company—</p></intro><level class="para1"><num>(a)</num><content><p>enters into a compromise or arrangement (see subsection (2)), or</p></content></level><level class="para1"><num>(b)</num><content><p>enters into a relevant insolvency procedure (see subsection (3)).</p></content></level></subsection><subsection><num>(2)</num><content><p>For the purposes of this section a company enters into a compromise or arrangement if an order under section 899 or 901F of the Companies Act 2006 (court sanction for compromise or arrangement) comes into effect in relation to the company.</p></content></subsection><subsection><num>(3)</num><intro><p>For the purposes of this section a company enters into a relevant insolvency procedure if—</p></intro><level class="para1"><num>(a)</num><content><p>a voluntary arrangement takes effect under section 5 in relation to the company,</p></content></level><level class="para1"><num>(b)</num><content><p>the company enters administration (within the meaning of Schedule B1 (see paragraph 1(2)(b) of that Schedule)),</p></content></level><level class="para1"><num>(c)</num><content><p>paragraph 44 of Schedule B1 (administration: interim moratorium) begins to apply in relation to the company, or</p></content></level><level class="para1"><num>(d)</num><content><p>the company goes into liquidation (see section 247).</p></content></level></subsection></section></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Obligations to notify change in end of moratorium</i></heading><section><num>A17</num><heading>Obligations to notify change in end of moratorium</heading><subsection><num>(1)</num><content><p>The table imposes obligations on the directors of a company to notify the monitor where a moratorium for the company is extended or comes to an end.</p><tblock class="table" ukl:Orientation="portrait"><foreign><default:table xmlns="http://www.w3.org/1999/xhtml"><default:colgroup><default:col style="width:7%"/><default:col style="width:37%"/><default:col style="width:56%"/></default:colgroup><default:tbody><default:tr><default:th/><default:th><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0"><i>Where a moratorium is extended or comes to an end under or by virtue of the following provision</i></p></default:th><default:th><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0"><i>the directors must </i></p></default:th></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Section A10</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Notify the monitor of the extension.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Section A11</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Notify the monitor of the extension and of the revised end date.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">3</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Section A13(4)</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Notify the monitor of the extension and provide the monitor with the court order under section A13(4).</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">4</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Section A13(7)(a)</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Notify the monitor of the extension.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">5</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Section A13(7)(b)(ii)</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Notify the monitor that the moratorium has come to an end and of the date that it ended.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">6</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Section A14(2)(a)</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Notify the monitor of the extension.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">7</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Section A14(2)(b)</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Notify the monitor that the moratorium has come to an end and of the date that it ended.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">8</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Section A15</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Notify the monitor of the extension and provide the monitor with any court order under section A15.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">9</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Section A16</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Notify the monitor that the moratorium has come to an end.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">10</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Section A42</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Notify the monitor that the moratorium has come to an end and provide the monitor with the court order under section A42.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">11</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Section A44</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Notify the monitor that the moratorium has come to an end and provide the monitor with the court order under section A44.</p></default:td></default:tr></default:tbody></default:table></foreign></tblock></content></subsection><subsection><num>(2)</num><content><p>After receiving a notice under subsection (1), other than a notice under entry 4 or 6 of the table, the monitor must notify the relevant persons of when the moratorium ended or, subject to any alteration under or by virtue of any of the provisions mentioned in section A9(3) or (4), the moratorium will come to an end.</p></content></subsection><subsection><num>(3)</num><content><p>After receiving a notice under entry 4 or 6 of the table, the monitor must notify the relevant persons.</p></content></subsection><subsection><num>(4)</num><content><p>If a moratorium comes to an end under section A38 (termination by monitor), the monitor must notify the company and the relevant persons of when the moratorium ended.</p></content></subsection><subsection><num>(5)</num><intro><p>The rules may—</p></intro><level class="para1"><num>(a)</num><content><p>make further provision about the timing of a notice required to be given under this section;</p></content></level><level class="para1"><num>(b)</num><content><p>require a notice to be accompanied by other documents.</p></content></level></subsection><subsection><num>(6)</num><content><p>If the directors fail to comply with subsection (1), any director who did not have a reasonable excuse for the failure commits an offence.</p></content></subsection><subsection><num>(7)</num><content><p>If the monitor without reasonable excuse fails to comply with any of subsections (2) to (4), the monitor commits an offence.</p></content></subsection><subsection><num>(8)</num><intro><p>In this section the relevant persons means—</p></intro><level class="para1"><num>(a)</num><content><p>the registrar of companies,</p></content></level><level class="para1"><num>(b)</num><content><p>every creditor of the company of whose claim the monitor is aware,</p></content></level><level class="para1"><num>(c)</num><content><p>in a case where the company is or has been an employer in respect of an occupational pension scheme that is not a money purchase scheme, the Pensions Regulator, and</p></content></level><level class="para1"><num>(d)</num><content><p>in a case where the company is an employer in respect of such a pension scheme that is an eligible scheme within the meaning given by section 126 of the Pensions Act 2004, the Board of the Pension Protection Fund.</p></content></level></subsection></section></hcontainer></chapter><chapter><num>CHAPTER 4</num><heading>Effects of moratorium</heading><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Introductory</i></heading><section><num>A18</num><heading>Overview and construction of references to payment holidays</heading><subsection><num>(1)</num><content><p>This Chapter makes provision about the main effects of a moratorium for a company.</p></content></subsection><subsection><num>(2)</num><content><p>The provision made by this Chapter includes restrictions on the enforcement or payment of the debts that are defined by subsection (3) as pre-moratorium debts for which a company has a payment holiday during a moratorium.</p></content></subsection><subsection><num>(3)</num><intro><p>In this Part a reference to pre-moratorium debts for which a company has a payment holiday during a moratorium is to its pre-moratorium debts that have fallen due before the moratorium, or that fall due during the moratorium, except in so far as they consist of amounts payable in respect of—</p></intro><level class="para1"><num>(a)</num><content><p>the monitor's remuneration or expenses,</p></content></level><level class="para1"><num>(b)</num><content><p>goods or services supplied during the moratorium,</p></content></level><level class="para1"><num>(c)</num><content><p>rent in respect of a period during the moratorium,</p></content></level><level class="para1"><num>(d)</num><content><p>wages or salary arising under a contract of employment,</p></content></level><level class="para1"><num>(e)</num><content><p>redundancy payments, or</p></content></level><level class="para1"><num>(f)</num><content><p>debts or other liabilities arising under a contract or other instrument involving financial services.</p></content></level></subsection><subsection><num>(4)</num><content><p>The rules may make provision as to what is, or is not, to count as the supply of goods or services for the purposes of subsection (3)(b).</p></content></subsection><subsection><num>(5)</num><content><p>The Secretary of State may by regulations amend this section for the purposes of changing the list in subsection (3).</p></content></subsection><subsection><num>(6)</num><content><p>Regulations under subsection (5) are subject to the affirmative resolution procedure.</p></content></subsection><subsection><num>(7)</num><intro><p>In this section—</p></intro><hcontainer name="definition"><content><p>contract or other instrument involving financial services has the meaning given by Schedule ZA2;</p></content></hcontainer><hcontainer name="definition"><content><p>monitor's remuneration or expenses does not include remuneration in respect of anything done by a proposed monitor before the moratorium begins;</p></content></hcontainer><hcontainer name="definition"><intro><p>redundancy payment means—</p></intro><level class="para1"><num>(a)</num><content><p>a redundancy payment under Part 11 of the Employment Rights Act 1996 or Part 12 of the Employment Rights (Northern Ireland) Order 1996, or</p></content></level><level class="para1"><num>(b)</num><content><p>a payment made to a person who agrees to the termination of their employment in circumstances where they would have been entitled to a redundancy payment under that Part if dismissed;</p></content></level></hcontainer><hcontainer name="definition"><intro><p>wages or salary includes—</p></intro><level class="para1"><num>(a)</num><content><p>a sum payable in respect of a period of holiday (for which purpose the sum is to be treated as relating to the period by reference to which the entitlement to holiday accrued),</p></content></level><level class="para1"><num>(b)</num><content><p>a sum payable in respect of a period of absence through illness or other good cause,</p></content></level><level class="para1"><num>(c)</num><content><p>a sum payable in lieu of holiday, and</p></content></level><level class="para1"><num>(d)</num><content><p>a contribution to an occupational pension scheme.</p></content></level></hcontainer></subsection></section></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Publicity about moratorium</i></heading><section><num>A19</num><heading>Publicity about moratorium</heading><subsection><num>(1)</num><intro><p>During a moratorium, the company must, in any premises—</p></intro><level class="para1"><num>(a)</num><content><p>where business of the company is carried on, and</p></content></level><level class="para1"><num>(b)</num><content><p>to which customers of the company or suppliers of goods or services to the company have access,</p></content></level><wrapUp><p>display, in a prominent position so that it may easily be read by such customers or suppliers, a notice containing the required information.</p></wrapUp></subsection><subsection><num>(2)</num><content><p>During a moratorium, any websites of the company must state the required information.</p></content></subsection><subsection><num>(3)</num><content><p>During a moratorium, every business document issued by or on behalf of the company must state the required information.</p></content></subsection><subsection><num>(4)</num><content><p>For the purposes of subsections (1), (2) and (3), the required information is—</p></content></subsection><level class="para1"><num>(a)</num><content><p>that a moratorium is in force in relation to the company, and</p></content></level><level class="para1"><num>(b)</num><content><p>the name of the monitor.</p></content></level><subsection><num>(5)</num><intro><p>If subsection (1), (2) or (3) is contravened—</p></intro><level class="para1"><num>(a)</num><content><p>the company commits an offence, and</p></content></level><level class="para1"><num>(b)</num><content><p>any officer of the company who without reasonable excuse authorised or permitted the contravention commits an offence.</p></content></level></subsection><subsection><num>(6)</num><intro><p>In this section business document means—</p></intro><level class="para1"><num>(a)</num><content><p>an invoice,</p></content></level><level class="para1"><num>(b)</num><content><p>an order for goods or services,</p></content></level><level class="para1"><num>(c)</num><content><p>a business letter, and</p></content></level><level class="para1"><num>(d)</num><content><p>an order form,</p></content></level><wrapUp><p>whether in hard copy, electronic or any other form.</p></wrapUp></subsection></section></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Effect on creditors etc</i></heading><section><num>A20</num><heading>Restrictions on insolvency proceedings etc</heading><subsection><num>(1)</num><intro><p>During a moratorium—</p></intro><level class="para1"><num>(a)</num><content><p>no petition may be presented for the winding up of the company, except by the directors,</p></content></level><level class="para1"><num>(b)</num><content><p>no resolution may be passed for the voluntary winding up of the company under section 84(1)(a),</p></content></level><level class="para1"><num>(c)</num><content><p>a resolution for the voluntary winding up of the company under section 84(1)(b) may be passed only if the resolution is recommended by the directors,</p></content></level><level class="para1"><num>(d)</num><content><p>no order may be made for the winding up of the company, except on a petition by the directors,</p></content></level><level class="para1"><num>(e)</num><content><p>no administration application may be made in respect of the company, except by the directors,</p></content></level><level class="para1"><num>(f)</num><content><p>no notice of intention to appoint an administrator of the company under paragraph 14 or 22(1) of Schedule B1 may be filed with the court,</p></content></level><level class="para1"><num>(g)</num><content><p>no administrator of the company may be appointed under paragraph 14 or 22(1) of Schedule B1, and</p></content></level><level class="para1"><num>(h)</num><content><p>no administrative receiver of the company may be appointed.</p></content></level></subsection><subsection><num>(2)</num><content><p>Subsection (1)(a) does not apply to an excepted petition; and subsection (1)(d) does not apply to an order on an excepted petition.</p></content></subsection><subsection><num>(3)</num><intro><p>For these purposes, excepted petition means a petition under—</p></intro><level class="para1"><num>(a)</num><content><p>section 124A, 124B or 124C, or</p></content></level><level class="para1"><num>(b)</num><content><p>section 367 of the Financial Services and Markets Act 2000 on the ground mentioned in subsection (3)(b) of that section.</p></content></level></subsection></section><section><num>A21</num><heading>Restrictions on enforcement and legal proceedings</heading><subsection><num>(1)</num><intro><p>During a moratorium—</p></intro><level class="para1"><num>(a)</num><content><p>a landlord or other person to whom rent is payable may not exercise a right of forfeiture by peaceable re-entry in relation to premises let to the company, except with the permission of the court,</p></content></level><level class="para1"><num>(b)</num><content><p>in Scotland, a landlord or other person to whom rent is payable may not exercise a right of irritancy in relation to premises let to the company, except with the permission of the court,</p></content></level><level class="para1"><num>(c)</num><intro><p>no steps may be taken to enforce any security over the company's property except—</p></intro><level class="para2"><num>(i)</num><content><p>steps to enforce a collateral security charge (within the meaning of the Financial Markets and Insolvency (Settlement Finality) Regulations 1999 (S.I. 1999/2979)),</p></content></level><level class="para2"><num>(ii)</num><content><p>steps to enforce security created or otherwise arising under a financial collateral arrangement (within the meaning of regulation 3 of the Financial Collateral Arrangements (No. 2) Regulations 2003 (S.I. 2003/3226)), or</p></content></level><level class="para2"><num>(iii)</num><content><p>steps taken with the permission of the court,</p></content></level></level><level class="para1"><num>(d)</num><content><p>no steps may be taken to repossess goods in the company's possession under any hire-purchase agreement, except with the permission of the court, and</p></content></level><level class="para1"><num>(e)</num><intro><p>no legal process (including legal proceedings, execution, distress or diligence) may be instituted, carried out or continued against the company or its property except—</p></intro><level class="para2"><num>(i)</num><content><p>employment tribunal proceedings or any legal process arising out of such proceedings,</p></content></level><level class="para2"><num>(ii)</num><content><p>proceedings, not within sub-paragraph (i), involving a claim between an employer and a worker, or</p></content></level><level class="para2"><num>(iii)</num><content><p>a legal process instituted, carried out or continued with the permission of the court.</p></content></level></level></subsection><subsection><num>(2)</num><content><p>An application may not be made for permission under subsection (1) for the purposes of enforcing a pre-moratorium debt for which the company has a payment holiday during the moratorium.</p></content></subsection><subsection><num>(3)</num><intro><p>An application may not be made for permission under subsection (1)(c), (d) or (e) with a view to obtaining—</p></intro><level class="para1"><num>(a)</num><content><p>the crystallisation of a floating charge, or</p></content></level><level class="para1"><num>(b)</num><content><p>the imposition, by virtue of provision in an instrument creating a floating charge, of any restriction on the disposal of any property of the company.</p></content></level></subsection><subsection><num>(4)</num><content><p>Permission of the court under subsection (1) may be given subject to conditions.</p></content></subsection><subsection><num>(5)</num><content><p>Subsection (1)(c)(iii) is subject to section A23(1).</p></content></subsection><subsection><num>(6)</num><intro><p>In this section—</p></intro><hcontainer name="definition"><content><p>agency worker has the meaning given by section 13(2) of the Employment Relations Act 1999;</p></content></hcontainer><hcontainer name="definition"><intro><p>employer—</p></intro><level class="para1"><num>(a)</num><content><p>in relation to an agency worker, has the meaning given by section 13(2) of the Employment Relations Act 1999;</p></content></level><level class="para1"><num>(b)</num><content><p>otherwise, has the meaning given by section 230(4) of the Employment Rights Act 1996;</p></content></level></hcontainer><hcontainer name="definition"><intro><p>worker means an individual who is—</p></intro><level class="para1"><num>(a)</num><content><p>a worker within the meaning of section 230(3) of the Employment Rights Act 1996, or</p></content></level><level class="para1"><num>(b)</num><content><p>an agency worker.</p></content></level></hcontainer></subsection></section><section><num>A22</num><heading>Floating charges</heading><subsection><num>(1)</num><content><p>This section applies where there is an uncrystallised floating charge on the property of a company for which a moratorium is in force.</p></content></subsection><subsection><num>(2)</num><intro><p>During the moratorium, the holder of the floating charge may not give any notice which would have the effect of—</p></intro><level class="para1"><num>(a)</num><content><p>causing the floating charge to crystallise, or</p></content></level><level class="para1"><num>(b)</num><content><p>causing the imposition, by virtue of provision in the instrument creating the charge, of any restriction on the disposal of property of the company.</p></content></level></subsection><subsection><num>(3)</num><content><p>No other event occurring during the moratorium is to have the effect mentioned in subsection (2)(a) or (b).</p></content></subsection><subsection><num>(4)</num><intro><p>Subsection (5) applies where—</p></intro><level class="para1"><num>(a)</num><content><p>the holder of a floating charge (the chargee) is prevented by subsection (2) from giving a notice mentioned there during the moratorium, and</p></content></level><level class="para1"><num>(b)</num><content><p>under the terms of the floating charge, the time for giving such a notice ends during the moratorium or before the chargee is given notice of the end of the moratorium under section A17.</p></content></level></subsection><subsection><num>(5)</num><intro><p>The chargee may give notice later than is required under the terms of the floating charge, but only if the chargee does so as soon as is practicable after—</p></intro><level class="para1"><num>(a)</num><content><p>the end of the moratorium, or</p></content></level><level class="para1"><num>(b)</num><content><p>if later, the day on which the chargee is notified of the end of the moratorium.</p></content></level></subsection><subsection><num>(6)</num><intro><p>Where—</p></intro><level class="para1"><num>(a)</num><content><p>subsection (3) prevents an event which occurs during the moratorium from having the effect mentioned there, and</p></content></level><level class="para1"><num>(b)</num><intro><p>the holder of the floating charge gives notice of the event to the company as soon as is practicable after—</p></intro><level class="para2"><num>(i)</num><content><p>the end of the moratorium, or</p></content></level><level class="para2"><num>(ii)</num><content><p>if later, the day on which the chargee is notified of the end of the moratorium,</p></content></level></level><wrapUp><p>the event is to be treated as if it had occurred when the notice was given.</p></wrapUp></subsection><subsection><num>(7)</num><intro><p>This section does not apply in relation to a floating charge that is—</p></intro><level class="para1"><num>(a)</num><content><p>a collateral security (as defined by section A27);</p></content></level><level class="para1"><num>(b)</num><content><p>a market charge (as defined by section A27);</p></content></level><level class="para1"><num>(c)</num><content><p>a security financial collateral arrangement (within the meaning of regulation 3 of the Financial Collateral Arrangements (No. 2) Regulations 2003 (S.I. 2003/3226));</p></content></level><level class="para1"><num>(d)</num><content><p>a system-charge (as defined by section A27).</p></content></level></subsection></section><section><num>A23</num><heading>Enforcement of security granted during moratorium</heading><subsection><num>(1)</num><content><p>Security granted by a company during a moratorium in relation to the company may be enforced only if the monitor consented to the grant of security under section A26.</p></content></subsection><subsection><num>(2)</num><content><p>See also section A21(1)(c), which restricts enforcement during a moratorium.</p></content></subsection></section></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Notification of insolvency proceedings</i></heading><section><num>A24</num><heading>Duty of directors to notify monitor of insolvency proceedings etc</heading><subsection><num>(1)</num><intro><p>The directors of a company must notify the monitor before taking any of the following steps during a moratorium—</p></intro><level class="para1"><num>(a)</num><content><p>presenting a petition for the winding up of the company;</p></content></level><level class="para1"><num>(b)</num><content><p>making an administration application in respect of the company;</p></content></level><level class="para1"><num>(c)</num><content><p>appointing an administrator under paragraph 22(2) of Schedule B1.</p></content></level></subsection><subsection><num>(2)</num><content><p>The directors of a company must notify the monitor if, during a moratorium for the company, they recommend that the company passes a resolution for voluntary winding up under section 84(1)(b).</p></content></subsection><subsection><num>(3)</num><content><p>The rules may make provision about the timing of a notice required to be given under subsection (1) or (2).</p></content></subsection><subsection><num>(4)</num><content><p>If the directors fail to comply with subsection (1) or (2), any director who did not have a reasonable excuse for the failure commits an offence.</p></content></subsection></section></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Restrictions on transactions</i></heading><section><num>A25</num><heading>Restrictions on obtaining credit</heading><subsection><num>(1)</num><content><p>During a moratorium, the company may not obtain credit to the extent of £500 or more from a person unless the person has been informed that a moratorium is in force in relation to the company.</p></content></subsection><subsection><num>(2)</num><intro><p>The reference to the company obtaining credit includes—</p></intro><level class="para1"><num>(a)</num><content><p>the company entering into a conditional sale agreement in accordance with which goods are to be sold to the company,</p></content></level><level class="para1"><num>(b)</num><content><p>the company entering into any other form of hire-purchase agreement under which goods are to be bailed (in Scotland, hired) to the company, and</p></content></level><level class="para1"><num>(c)</num><content><p>the company being paid in advance (whether in money or otherwise) for the supply of goods or services.</p></content></level></subsection><subsection><num>(3)</num><intro><p>If a company contravenes subsection (1)—</p></intro><level class="para1"><num>(a)</num><content><p>the company commits an offence, and</p></content></level><level class="para1"><num>(b)</num><content><p>any officer of the company who without reasonable excuse authorised or permitted the obtaining of the credit commits an offence.</p></content></level></subsection></section><section><num>A26</num><heading>Restrictions on grant of security etc</heading><subsection><num>(1)</num><content><p>During a moratorium, the company may grant security over its property only if the monitor consents.</p></content></subsection><subsection><num>(2)</num><content><p>The monitor may give consent under subsection (1) only if the monitor thinks that the grant of security will support the rescue of the company as a going concern.</p></content></subsection><subsection><num>(3)</num><content><p>In deciding whether to give consent under subsection (1), the monitor is entitled to rely on information provided by the company unless the monitor has reason to doubt its accuracy.</p></content></subsection><subsection><num>(4)</num><intro><p>If the company grants security over its property during the moratorium otherwise than as authorised by subsection (1)—</p></intro><level class="para1"><num>(a)</num><content><p>the company commits an offence, and</p></content></level><level class="para1"><num>(b)</num><content><p>any officer of the company who without reasonable excuse authorised or permitted the grant of the security commits an offence.</p></content></level></subsection><subsection><num>(5)</num><content><p>For the consequences of a company granting security over its property in contravention of subsection (1), see also section A23.</p></content></subsection><subsection><num>(6)</num><content><p>The monitor may not give consent under this section if the granting of security is an offence under section A27.</p></content></subsection></section><section><num>A27</num><heading>Prohibition on entering into market contracts etc</heading><subsection><num>(1)</num><intro><p>If a company enters into a transaction to which this section applies during a moratorium for the company—</p></intro><level class="para1"><num>(a)</num><content><p>the company commits an offence, and</p></content></level><level class="para1"><num>(b)</num><content><p>any officer of the company who without reasonable excuse authorised or permitted the company to enter into the transaction commits an offence.</p></content></level></subsection><subsection><num>(2)</num><intro><p>A company enters into a transaction to which this section applies if it—</p></intro><level class="para1"><num>(a)</num><content><p>enters into a market contract,</p></content></level><level class="para1"><num>(b)</num><content><p>enters into a financial collateral arrangement,</p></content></level><level class="para1"><num>(c)</num><content><p>gives a transfer order,</p></content></level><level class="para1"><num>(d)</num><content><p>grants a market charge or a system-charge, or</p></content></level><level class="para1"><num>(e)</num><content><p>provides any collateral security.</p></content></level></subsection><subsection><num>(3)</num><content><p>Where during the moratorium a company enters into a transaction to which this section applies, nothing done by or in pursuance of the transaction is to be treated as done in contravention of any of sections A19, A21, A25, A26 and A28 to A32.</p></content></subsection><subsection><num>(4)</num><intro><p>In this section—</p></intro><hcontainer name="definition"><content><p>collateral security has the same meaning as in the Financial Markets and Insolvency (Settlement Finality) Regulations 1999 (S.I. 1999/2979);</p></content></hcontainer><hcontainer name="definition"><content><p>financial collateral arrangement has the same meaning as in the Financial Collateral Arrangements (No. 2) Regulations 2003 (S.I. 2003/3226);</p></content></hcontainer><hcontainer name="definition"><content><p>market charge has the same meaning as in Part 7 of the Companies Act 1989;</p></content></hcontainer><hcontainer name="definition"><content><p>market contract has the same meaning as in Part 7 of the Companies Act 1989;</p></content></hcontainer><hcontainer name="definition"><content><p>system-charge has the meaning given by the Financial Markets and Insolvency Regulations 1996 (S.I. 1996/1469);</p></content></hcontainer><hcontainer name="definition"><content><p>transfer order has the same meaning as in the Financial Markets and Insolvency (Settlement Finality) Regulations 1999.</p></content></hcontainer></subsection></section></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Restrictions on payments and disposal of property</i></heading><section><num>A28</num><heading>Restrictions on payment of certain pre-moratorium debts</heading><subsection><num>(1)</num><intro><p>During a moratorium, the company may make one or more relevant payments to a person that (in total) exceed the specified maximum amount only if—</p></intro><level class="para1"><num>(a)</num><content><p>the monitor consents,</p></content></level><level class="para1"><num>(b)</num><content><p>the payment is in pursuance of a court order, or</p></content></level><level class="para1"><num>(c)</num><content><p>the payment is required by section A31(3) or A32(3).</p></content></level></subsection><subsection><num>(2)</num><intro><p>In subsection (1)—</p></intro><hcontainer name="definition"><content><p>relevant payments means payments in respect of pre-moratorium debts for which the company has a payment holiday during the moratorium (see section A18);</p></content></hcontainer><hcontainer name="definition"><intro><p>specified maximum amount means an amount equal to the greater of—</p></intro><level class="para1"><num>(a)</num><content><p>£5000, and</p></content></level><level class="para1"><num>(b)</num><content><p>1% of the value of the debts and other liabilities owed by the company to its unsecured creditors when the moratorium began, to the extent that the amount of such debts and liabilities can be ascertained at that time.</p></content></level></hcontainer></subsection><subsection><num>(3)</num><content><p>The monitor may give consent under subsection (1)(a) only if the monitor thinks that it will support the rescue of the company as a going concern.</p></content></subsection><subsection><num>(4)</num><content><p>In deciding whether to give consent under subsection (1)(a), the monitor is entitled to rely on information provided by the company unless the monitor has reason to doubt its accuracy.</p></content></subsection><subsection><num>(5)</num><intro><p>If the company makes a payment to which subsection (1) applies otherwise than as authorised by that subsection—</p></intro><level class="para1"><num>(a)</num><content><p>the company commits an offence, and</p></content></level><level class="para1"><num>(b)</num><content><p>any officer of the company who without reasonable excuse authorised or permitted the payment commits an offence.</p></content></level></subsection></section><section><num>A29</num><heading>Restrictions on disposal of property</heading><subsection><num>(1)</num><content><p>During a moratorium, the company may dispose of its property only if authorised by subsection (2) or (5).</p></content></subsection><subsection><num>(2)</num><intro><p>In the case of property that is not subject to a security interest, the company may dispose of the property if—</p></intro><level class="para1"><num>(a)</num><content><p>the disposal is made in the ordinary way of the company's business,</p></content></level><level class="para1"><num>(b)</num><content><p>the monitor consents, or</p></content></level><level class="para1"><num>(c)</num><content><p>the disposal is in pursuance of a court order.</p></content></level></subsection><subsection><num>(3)</num><content><p>The monitor may give consent under subsection (2)(b) only if the monitor thinks that it will support the rescue of the company as a going concern.</p></content></subsection><subsection><num>(4)</num><content><p>In deciding whether to give consent under subsection (2)(b), the monitor is entitled to rely on information provided by the company unless the monitor has reason to doubt its accuracy.</p></content></subsection><subsection><num>(5)</num><intro><p>In the case of property that is subject to a security interest, the company may dispose of the property if the disposal is in accordance with—</p></intro><level class="para1"><num>(a)</num><content><p>section A31(1), or</p></content></level><level class="para1"><num>(b)</num><content><p>the terms of the security.</p></content></level></subsection><subsection><num>(6)</num><intro><p>If the company disposes of its property during the moratorium otherwise than as authorised by this section—</p></intro><level class="para1"><num>(a)</num><content><p>the company commits an offence, and</p></content></level><level class="para1"><num>(b)</num><content><p>any officer of the company who without reasonable excuse authorised or permitted the disposal commits an offence.</p></content></level></subsection></section><section><num>A30</num><heading>Restrictions on disposal of hire-purchase property</heading><subsection><num>(1)</num><intro><p>During a moratorium, the company may dispose of any goods in the possession of the company under a hire-purchase agreement only if the disposal is in accordance with —</p></intro><level class="para1"><num>(a)</num><content><p>section A32(1), or</p></content></level><level class="para1"><num>(b)</num><content><p>the terms of the agreement.</p></content></level></subsection><subsection><num>(2)</num><intro><p>If the company disposes of goods in the possession of the company under a hire-purchase agreement otherwise than as authorised by subsection (1)—</p></intro><level class="para1"><num>(a)</num><content><p>the company commits an offence, and</p></content></level><level class="para1"><num>(b)</num><content><p>any officer of the company who without reasonable excuse authorised or permitted the disposal commits an offence.</p></content></level></subsection></section></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Disposals of property free from charges etc</i></heading><section><num>A31</num><heading>Disposal of charged property free from charge</heading><subsection><num>(1)</num><content><p>During a moratorium, the company may, with the permission of the court, dispose of property which is subject to a security interest as if it were not subject to the security interest.</p></content></subsection><subsection><num>(2)</num><content><p>The court may give permission under subsection (1) only if the court thinks that it will support the rescue of the company as a going concern.</p></content></subsection><subsection><num>(3)</num><intro><p>Where the court gives permission under subsection (1) other than in relation to a floating charge, the company must apply the following towards discharging the sums secured—</p></intro><level class="para1"><num>(a)</num><content><p>the net proceeds of disposal of the property, and</p></content></level><level class="para1"><num>(b)</num><content><p>any money required to be added to the net proceeds so as to produce the amount determined by the court as the net amount which would be realised on a sale of the property in the open market by a willing vendor.</p></content></level></subsection><subsection><num>(4)</num><content><p>Where the permission relates to two or more security interests, the condition in subsection (3) requires the application of money in the order of the priorities of the security interests.</p></content></subsection><subsection><num>(5)</num><content><p>Where property subject to a floating charge is disposed of under subsection (1), the holder of the floating charge has the same priority in respect of acquired property as they had in respect of the property disposed of.</p></content></subsection><subsection><num>(6)</num><content><p>In subsection (5)
acquired property means property of the company which directly or indirectly represents the property disposed of.</p></content></subsection><subsection><num>(7)</num><content><p>Where the court makes an order giving permission under subsection (1), the directors must, within the period of 14 days beginning with the date of the order, send a copy of it to the registrar of companies.</p></content></subsection><subsection><num>(8)</num><content><p>If the directors fail to comply with subsection (7), any director who did not have a reasonable excuse for the failure commits an offence.</p></content></subsection><subsection><num>(9)</num><intro><p>Where property in Scotland is disposed of under subsection (1), the company must grant to the disponee an appropriate document of transfer or conveyance of the property, and—</p></intro><level class="para1"><num>(a)</num><content><p>that document, or</p></content></level><level class="para1"><num>(b)</num><content><p>recording, intimation or registration of that document (where recording, intimation or registration of the document is a legal requirement for completion of title to the property),</p></content></level><wrapUp><p>has the effect of disencumbering the property of or, as the case may be, freeing the property from, the security interest.</p></wrapUp></subsection><subsection><num>(10)</num><intro><p>If a company fails to comply with subsection (3) or (9)—</p></intro><level class="para1"><num>(a)</num><content><p>the company commits an offence, and</p></content></level><level class="para1"><num>(b)</num><content><p>any officer of the company who without reasonable excuse authorised or permitted the failure commits an offence.</p></content></level></subsection><subsection><num>(11)</num><content><p>Subsection (1) does not apply in relation to any property which is subject to a financial collateral arrangement, a market charge, a system-charge or a collateral security (as defined by section A27).</p></content></subsection></section><section><num>A32</num><heading>Disposal of hire-purchase property</heading><subsection><num>(1)</num><content><p>During a moratorium, the company may, with the permission of the court, dispose of goods which are in the possession of the company under a hire-purchase agreement as if all of the rights of the owner under the agreement were vested in the company.</p></content></subsection><subsection><num>(2)</num><content><p>The court may give permission under subsection (1) only if the court thinks that it will support the rescue of the company as a going concern.</p></content></subsection><subsection><num>(3)</num><intro><p>Where the court gives permission under subsection (1), the company must apply the following towards discharging the sums payable under the hire-purchase agreement—</p></intro><level class="para1"><num>(a)</num><content><p>the net proceeds of disposal of the goods, and</p></content></level><level class="para1"><num>(b)</num><content><p>any additional money required to be added to the net proceeds so as to produce the amount determined by the court as the net amount which would be realised on a sale of the goods in the open market by a willing vendor.</p></content></level></subsection><subsection><num>(4)</num><intro><p>If a company fails to comply with subsection (3)—</p></intro><level class="para1"><num>(a)</num><content><p>the company commits an offence, and</p></content></level><level class="para1"><num>(b)</num><content><p>any officer of the company who without reasonable excuse authorised or permitted the failure commits an offence.</p></content></level></subsection><subsection><num>(5)</num><content><p>Where the court makes an order giving permission under subsection (1), the directors must, within the period of 14 days beginning with the date of the order, send a copy of it to the registrar of companies.</p></content></subsection><subsection><num>(6)</num><content><p>If the directors fail to comply with subsection (5), any director who did not have a reasonable excuse for the failure commits an offence.</p></content></subsection><subsection><num>(7)</num><content><p>In Scotland, where goods in the possession of the company under a hire-purchase agreement are disposed of under subsection (1), the disposal has the effect of extinguishing, as against the disponee, all rights of the owner of the goods under the agreement.</p></content></subsection></section></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Effect of contravention of certain provisions of Chapter</i></heading><section><num>A33</num><heading>Contravention of certain requirements imposed under this Chapter</heading><intro><p>The fact that a company contravenes section A19 or any of sections A25 to A32 does not—</p></intro><level class="para1"><num>(a)</num><content><p>make any transaction void or unenforceable, or</p></content></level><level class="para1"><num>(b)</num><content><p>affect the validity of any other thing.</p></content></level></section></hcontainer></chapter><chapter><num>CHAPTER 5</num><heading>The monitor</heading><section><num>A34</num><heading>Status of monitor</heading><content><p>The monitor in relation to a moratorium is an officer of the court.</p></content></section><section><num>A35</num><heading>Monitoring</heading><subsection><num>(1)</num><content><p>During a moratorium, the monitor must monitor the company's affairs for the purpose of forming a view as to whether it remains likely that the moratorium will result in the rescue of the company as a going concern.</p></content></subsection><subsection><num>(2)</num><content><p>In forming the view mentioned in subsection (1), the monitor is entitled to rely on information provided by the company, unless the monitor has reason to doubt its accuracy.</p></content></subsection></section><section><num>A36</num><heading>Provision of information to monitor</heading><subsection><num>(1)</num><content><p>The monitor may require the directors of the company to provide any information required by the monitor for the purpose of carrying out the monitor's functions.</p></content></subsection><subsection><num>(2)</num><content><p>The directors must comply with a requirement to provide information as soon as practicable.</p></content></subsection><subsection><num>(3)</num><content><p>For the potential consequences of failing to comply with a requirement to provide information, see section A38.</p></content></subsection></section><section><num>A37</num><heading>Application by monitor for directions</heading><content><p>The monitor in relation to a moratorium may apply to the court for directions about the carrying out of the monitor's functions.</p></content></section><section><num>A38</num><heading>Termination of moratorium by monitor</heading><subsection><num>(1)</num><intro><p>The monitor must bring a moratorium to an end by filing a notice with the court if—</p></intro><level class="para1"><num>(a)</num><content><p>the monitor thinks that the moratorium is no longer likely to result in the rescue of the company as a going concern,</p></content></level><level class="para1"><num>(b)</num><content><p>the monitor thinks that the objective of rescuing the company as a going concern has been achieved,</p></content></level><level class="para1"><num>(c)</num><content><p>the monitor thinks that, by reason of a failure by the directors to comply with a requirement under section A36, the monitor is unable properly to carry out the monitor's functions, or</p></content></level><level class="para1"><num>(d)</num><intro><p>the monitor thinks that the company is unable to pay any of the following that have fallen due—</p></intro><level class="para2"><num>(i)</num><content><p>moratorium debts;</p></content></level><level class="para2"><num>(ii)</num><content><p>pre-moratorium debts for which the company does not have a payment holiday during the moratorium (see section A18).</p></content></level></level></subsection><subsection><num>(2)</num><content><p>The rules may provide for debts that are to be disregarded for the purposes of subsection (1)(d).</p></content></subsection><subsection><num>(3)</num><content><p>On the filing with the court of a notice under subsection (1), the moratorium comes to an end.</p></content></subsection><subsection><num>(4)</num><content><p>The rules may make provision about the timing of a notice required to be given under subsection (1).</p></content></subsection><subsection><num>(5)</num><content><p>The Secretary of State may by regulations amend this section for the purposes of changing the circumstances in which the monitor must bring a moratorium to an end under subsection (1).</p></content></subsection><subsection><num>(6)</num><content><p>Regulations under subsection (5) are subject to the affirmative resolution procedure.</p></content></subsection><subsection><num>(7)</num><content><p>See also section A17 (obligations to notify change in end of moratorium).</p></content></subsection></section><section><num>A39</num><heading>Replacement of monitor or appointment of additional monitor</heading><subsection><num>(1)</num><content><p>The court may make an order authorising the appointment of a qualified person to act as the monitor in relation to a moratorium instead of, or in addition to, a person who already acts as the monitor.</p></content></subsection><subsection><num>(2)</num><content><p>The court may make an order providing that a person ceases to act as the monitor in relation to a moratorium.</p></content></subsection><subsection><num>(3)</num><content><p>An order under subsection (1) or (2) may be made only on an application by the directors or the monitor.</p></content></subsection><subsection><num>(4)</num><intro><p>The court may make an order authorising the appointment of a monitor under subsection (1) only if the person has provided the court with a statement that the person—</p></intro><level class="para1"><num>(a)</num><content><p>is a qualified person, and</p></content></level><level class="para1"><num>(b)</num><content><p>consents to act as the monitor in relation to the moratorium.</p></content></level></subsection><subsection><num>(5)</num><intro><p>Where it is proposed that more than one person should act as the monitor in relation to the moratorium, the statement under subsection (4) must specify—</p></intro><level class="para1"><num>(a)</num><content><p>which functions (if any) are to be exercised by the persons acting jointly, and</p></content></level><level class="para1"><num>(b)</num><content><p>which functions (if any) are to be exercised by any or all of the persons.</p></content></level></subsection><subsection><num>(6)</num><content><p>The rules may make provision about the date on which the statement under subsection (4) must be made.</p></content></subsection><subsection><num>(7)</num><content><p>Where the court makes an order under subsection (1) or (2) the person begins to act as the monitor, or ceases to act as the monitor, in relation to the moratorium at the time specified in, or determined in accordance with, the order (the relevant time).</p></content></subsection><subsection><num>(8)</num><intro><p>As soon as reasonably practicable after the relevant time, the monitor must notify the following of the effect of the order—</p></intro><level class="para1"><num>(a)</num><content><p>the registrar of companies,</p></content></level><level class="para1"><num>(b)</num><content><p>every creditor of the company of whose claim the monitor is aware,</p></content></level><level class="para1"><num>(c)</num><content><p>in a case where the company is or has been an employer in respect of an occupational pension scheme that is not a money purchase scheme, the Pensions Regulator, and</p></content></level><level class="para1"><num>(d)</num><content><p>in a case where the company is an employer in respect of such a pension scheme that is an eligible scheme within the meaning given by section 126 of the Pensions Act 2004, the Board of the Pension Protection Fund.</p></content></level></subsection><subsection><num>(9)</num><content><p>If the monitor without reasonable excuse fails to comply with subsection (8), the monitor commits an offence.</p></content></subsection></section><section><num>A40</num><heading>Application of Part where two or more persons act as monitor</heading><subsection><num>(1)</num><intro><p>Where two or more persons act jointly as the monitor—</p></intro><level class="para1"><num>(a)</num><content><p>a reference in this Act to the monitor is a reference to those persons acting jointly;</p></content></level><level class="para1"><num>(b)</num><intro><p>where an offence of omission is committed by the monitor, each of the persons appointed to act jointly—</p></intro><level class="para2"><num>(i)</num><content><p>commits the offence, and</p></content></level><level class="para2"><num>(ii)</num><content><p>may be proceeded against and punished individually.</p></content></level></level></subsection><subsection><num>(2)</num><content><p>Where persons act jointly in respect of only some of the functions of the monitor, subsection (1) applies only in relation to those functions.</p></content></subsection><subsection><num>(3)</num><content><p>Where two or more persons act concurrently as the monitor a reference in this Act to the monitor is a reference to any of the persons appointed (or any combination of them).</p></content></subsection></section><section><num>A41</num><heading>Presumption of validity</heading><content><p>An act of the monitor is valid in spite of a defect in the monitor's appointment or qualification.</p></content></section></chapter><chapter><num>CHAPTER 6</num><heading>Challenges</heading><section><num>A42</num><heading>Challenge to monitor's actions</heading><subsection><num>(1)</num><content><p>Any of the persons specified below may apply to the court on the ground that an act, omission or decision of the monitor during a moratorium has unfairly harmed the interests of the applicant.</p></content></subsection><subsection><num>(2)</num><intro><p>The persons who may apply are—</p></intro><level class="para1"><num>(a)</num><content><p>a creditor, director or member of the company, or</p></content></level><level class="para1"><num>(b)</num><content><p>any other person affected by the moratorium.</p></content></level></subsection><subsection><num>(3)</num><content><p>An application under subsection (1) may be made during the moratorium or after it has ended.</p></content></subsection><subsection><num>(4)</num><intro><p>On an application under subsection (1) the court may—</p></intro><level class="para1"><num>(a)</num><content><p>confirm, reverse or modify any act or decision of the monitor,</p></content></level><level class="para1"><num>(b)</num><content><p>give the monitor directions, or</p></content></level><level class="para1"><num>(c)</num><content><p>make such other order as it thinks fit (but may not, under this paragraph, order the monitor to pay any compensation).</p></content></level></subsection><subsection><num>(5)</num><content><p>Where an application under subsection (1) relates to a failure by the monitor to bring the moratorium to an end under section A38(1), an order under subsection (4) may, in particular, bring the moratorium to an end and make such consequential provision as the court thinks fit.</p></content></subsection><subsection><num>(6)</num><content><p>Where an application under subsection (1) relates to the monitor bringing a moratorium to an end under section A38(1), an order under subsection (4) may, in particular, provide that the moratorium is not to be taken into account for the purposes of paragraph 2(1)(b) of Schedule ZA1 (company not eligible for moratorium if moratorium in force within previous 12 months).</p></content></subsection><subsection><num>(7)</num><content><p>In making an order under subsection (4) the court must have regard to the need to safeguard the interests of persons who have dealt with the company in good faith and for value.</p></content></subsection><subsection><num>(8)</num><content><p>See also section A17 (obligations to notify change in end of moratorium).</p></content></subsection></section><section><num>A43</num><heading>Challenges to monitor remuneration in insolvency proceedings</heading><subsection><num>(1)</num><content><p>The rules may confer on an administrator or liquidator of a company the right to apply to the court on the ground that remuneration charged by the monitor in relation to a prior moratorium for the company was excessive.</p></content></subsection><subsection><num>(2)</num><intro><p>Rules under subsection (1) may (among other things) make provision as to—</p></intro><level class="para1"><num>(a)</num><content><p>time limits;</p></content></level><level class="para1"><num>(b)</num><content><p>disposals available to the court;</p></content></level><level class="para1"><num>(c)</num><content><p>the treatment of costs (or, in Scotland, the expenses) of the application in the administration or winding up.</p></content></level></subsection></section><section><num>A44</num><heading>Challenge to directors' actions</heading><subsection><num>(1)</num><intro><p>A creditor or member of a company may apply to the court for an order under this section on the ground that—</p></intro><level class="para1"><num>(a)</num><content><p>during a moratorium, the company's affairs, business and property are being or have been managed by the directors in a manner which has unfairly harmed the interests of its creditors or members generally or of some part of its creditors or members (including at least the applicant), or</p></content></level><level class="para1"><num>(b)</num><content><p>any actual or proposed act or omission of the directors during a moratorium causes or would cause such harm.</p></content></level></subsection><subsection><num>(2)</num><content><p>An application under subsection (1) may be made during the moratorium or after it has ended.</p></content></subsection><subsection><num>(3)</num><content><p>On an application under subsection (1) the court may make such order as it thinks fit.</p></content></subsection><subsection><num>(4)</num><intro><p>An order under subsection (3) may in particular—</p></intro><level class="para1"><num>(a)</num><content><p>regulate the management by the directors of the company's affairs, business and property during the remainder of the moratorium,</p></content></level><level class="para1"><num>(b)</num><content><p>require the directors to refrain from doing or continuing an act complained of by the applicant or to do an act which the applicant has complained they have omitted to do,</p></content></level><level class="para1"><num>(c)</num><content><p>require a decision of the company's creditors to be sought (using a qualifying decision procedure) on such matters as the court may direct, or</p></content></level><level class="para1"><num>(d)</num><content><p>bring the moratorium to an end and make such consequential provision as the court thinks fit.</p></content></level></subsection><subsection><num>(5)</num><content><p>In making an order under subsection (3) the court must have regard to the need to safeguard the interests of persons who have dealt with the company in good faith and for value.</p></content></subsection><subsection><num>(6)</num><content><p>See also section A17 (obligations to notify change in end of moratorium).</p></content></subsection></section><section><num>A45</num><heading>Challenge brought by Board of the Pension Protection Fund</heading><subsection><num>(1)</num><intro><p>This section applies where—</p></intro><level class="para1"><num>(a)</num><intro><p>a moratorium—</p></intro><level class="para2"><num>(i)</num><content><p>is in force in relation to a company that is an employer in respect of an eligible scheme, or</p></content></level><level class="para2"><num>(ii)</num><content><p>is or has been in force in relation to a company that has been an employer in respect of an eligible scheme at any time during the moratorium, and</p></content></level></level><level class="para1"><num>(b)</num><content><p>the trustees or managers of the scheme are a creditor of the company.</p></content></level></subsection><subsection><num>(2)</num><content><p>The Board of the Pension Protection Fund may make any application under section A42(1) or A44(1) that could be made by the trustees or managers as a creditor.</p></content></subsection><subsection><num>(3)</num><content><p>For the purposes of such an application, any reference in section A42(1) or A44(1) to the interests of the applicant is to be read as a reference to the interests of the trustees or managers as a creditor.</p></content></subsection><subsection><num>(4)</num><content><p>In this section eligible scheme has the meaning given by section 126 of the Pensions Act 2004.</p></content></subsection></section></chapter><chapter><num>CHAPTER 7</num><heading>Offences: general</heading><section><num>A46</num><heading>Offence of fraud etc during or in anticipation of moratorium</heading><subsection><num>(1)</num><intro><p>An officer of a company commits an offence if, during a moratorium for the company or at any time within the period of 12 months ending with the day on which a moratorium for the company comes into force, the officer—</p></intro><level class="para1"><num>(a)</num><content><p>does any of the things mentioned in subsection (2), or</p></content></level><level class="para1"><num>(b)</num><content><p>was privy to the doing by others of any of the things mentioned in subsection (2)(c), (d) and (e).</p></content></level></subsection><subsection><num>(2)</num><intro><p>Those things are—</p></intro><level class="para1"><num>(a)</num><content><p>concealing any part of the company's property to the value of £500 or more, or concealing any debt due to or from the company,</p></content></level><level class="para1"><num>(b)</num><content><p>fraudulently removing any part of the company's property to the value of £500 or more,</p></content></level><level class="para1"><num>(c)</num><content><p>concealing, destroying, mutilating or falsifying any document affecting or relating to the company's property or affairs,</p></content></level><level class="para1"><num>(d)</num><content><p>making any false entry in any document affecting or relating to the company's property or affairs,</p></content></level><level class="para1"><num>(e)</num><content><p>fraudulently parting with, altering or making any omission in any document affecting or relating to the company's property or affairs, or</p></content></level><level class="para1"><num>(f)</num><content><p>pawning, pledging or disposing of any property of the company which has been obtained on credit and has not been paid for (unless the pawning, pledging or disposal was in the ordinary way of the company's business).</p></content></level></subsection><subsection><num>(3)</num><intro><p>It is a defence—</p></intro><level class="para1"><num>(a)</num><content><p>for a person charged with an offence under subsection (1) in respect of any of the things mentioned in subsection (2)(a) or (f) to prove that the person had no intent to defraud, and</p></content></level><level class="para1"><num>(b)</num><content><p>for a person charged with an offence under subsection (1) in respect of any of the things mentioned in subsection (2)(c) or (d) to prove that the person had no intent to conceal the state of affairs of the company or to defeat the law.</p></content></level></subsection><subsection><num>(4)</num><intro><p>Where a person pawns, pledges or disposes of any property of a company in circumstances which amount to an offence under subsection (1), every person who takes in pawn or pledge, or otherwise receives, the property commits an offence if the person knows it to be pawned, pledged or disposed of in circumstances which—</p></intro><level class="para1"><num>(a)</num><content><p>amount to an offence under subsection (1), or</p></content></level><level class="para1"><num>(b)</num><content><p>would, if a moratorium were obtained for the company within the period of 12 months beginning with the day on which the pawning, pledging or disposal took place, amount to an offence under subsection (1).</p></content></level></subsection><subsection><num>(5)</num><content><p>In this section, officer includes a shadow director.</p></content></subsection></section><section><num>A47</num><heading>Offence of false representation etc to obtain a moratorium</heading><subsection><num>(1)</num><intro><p>An officer of a company commits an offence if, for the purpose of obtaining a moratorium for the company or an extension of a moratorium for the company, the officer—</p></intro><level class="para1"><num>(a)</num><content><p>makes any false representation, or</p></content></level><level class="para1"><num>(b)</num><content><p>fraudulently does, or omits to do, anything.</p></content></level></subsection><subsection><num>(2)</num><content><p>Subsection (1) applies even if no moratorium or extension is obtained.</p></content></subsection><subsection><num>(3)</num><content><p>In this section, officer includes a shadow director.</p></content></subsection></section><section><num>A48</num><heading>Prosecution of delinquent officers of company</heading><subsection><num>(1)</num><content><p>This section applies where a moratorium has been obtained for a company.</p></content></subsection><subsection><num>(2)</num><intro><p>If it appears to the monitor that any past or present officer of the company has committed an offence in connection with the moratorium, the monitor must forthwith—</p></intro><level class="para1"><num>(a)</num><content><p>report the matter to the appropriate authority, and</p></content></level><level class="para1"><num>(b)</num><content><p>provide the appropriate authority with such information and give the authority such access to and facilities for inspecting and taking copies of documents (being information or documents in the possession or under the control of the monitor and relating to the matter in question) as the authority requires.</p></content></level></subsection><subsection><num>(3)</num><intro><p>In subsection (2), the appropriate authority—</p></intro><level class="para1"><num>(a)</num><content><p>in the case of a company registered in England and Wales, means the Secretary of State,</p></content></level><level class="para1"><num>(b)</num><content><p>in the case of a company registered in Scotland, means the Lord Advocate, and</p></content></level><level class="para1"><num>(c)</num><intro><p>in the case of an unregistered company means—</p></intro><level class="para2"><num>(i)</num><content><p>if it has a principal place of business in England and Wales but not Scotland, the Secretary of State,</p></content></level><level class="para2"><num>(ii)</num><content><p>if it has a principal place of business in Scotland but not England and Wales, the Lord Advocate,</p></content></level><level class="para2"><num>(iii)</num><content><p>if it has a principal place of business in both England and Wales and Scotland, the Secretary of State and the Lord Advocate, and</p></content></level><level class="para2"><num>(iv)</num><content><p>if it does not have a principal place of business in England and Wales or Scotland, the Secretary of State.</p></content></level></level></subsection><subsection><num>(4)</num><content><p>Where a matter is reported to the Secretary of State under subsection (2), the Secretary of State may, for the purpose of investigating the matter and such other matters relating to the affairs of the company as appear to the Secretary of State to require investigation, exercise any of the powers which are exercisable by inspectors appointed under section 431 or 432 of the Companies Act 1985.</p></content></subsection><subsection><num>(5)</num><content><p>For the purpose of such an investigation any obligation imposed on a person by any provision of the Companies Acts to produce documents or give information to, or otherwise to assist, inspectors so appointed is to be regarded as an obligation similarly to assist the Secretary of State in the Secretary of State's investigation.</p></content></subsection><subsection><num>(6)</num><content><p>Where a question is put to a person in exercise of the powers conferred by subsection (4), the person's answer may be used in evidence against them.</p></content></subsection><subsection><num>(7)</num><intro><p>However, in criminal proceedings in which the person is charged with an offence other than a false statement offence—</p></intro><level class="para1"><num>(a)</num><content><p>no evidence relating to the answer may be adduced, and</p></content></level><level class="para1"><num>(b)</num><content><p>no question relating to it may be asked,</p></content></level><wrapUp><p>by or on behalf of the prosecution, unless evidence relating to it is adduced, or a question relating to it is asked, in the proceedings by or on behalf of the person.</p></wrapUp></subsection><subsection><num>(8)</num><intro><p>In subsection (7)
false statement offence means—</p></intro><level class="para1"><num>(a)</num><content><p>an offence under section 2 or 5 of the Perjury Act 1911 (false statements made on oath otherwise than in judicial proceedings or made otherwise than on oath), or</p></content></level><level class="para1"><num>(b)</num><content><p>an offence under section 44(1) or (2) of the Criminal Law (Consolidation)
(Scotland) Act 1995 (false statements made on oath or otherwise than on oath).</p></content></level></subsection><subsection><num>(9)</num><content><p>Where a prosecuting authority institutes criminal proceedings following any report under subsection (2), the monitor, and every officer and agent of the company past and present (other than the defendant or defender), must give the authority all assistance in connection with the prosecution which they are reasonably able to give.</p></content></subsection><subsection><num>(10)</num><intro><p>For this purpose—</p></intro><hcontainer name="definition"><content><p>agent includes any banker or solicitor of the company and any person employed by the company as auditor, whether that person is or is not an officer of the company;</p></content></hcontainer><hcontainer name="definition"><content><p>prosecuting authority means the Director of Public Prosecutions, the Lord Advocate or the Secretary of State.</p></content></hcontainer></subsection><subsection><num>(11)</num><content><p>The court may, on the application of the prosecuting authority, direct a person who has failed to comply with subsection (9) to comply with it.</p></content></subsection></section></chapter><chapter><num>CHAPTER 8</num><heading>Miscellaneous and general</heading><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Special rules for certain kinds of company etc</i></heading><section><num>A49</num><heading>Regulated companies: modifications to this Part</heading><subsection><num>(1)</num><content><p>For the purposes of sections A3 and A4 as they apply in relation to a regulated company, section A6(1) has effect as if the documents listed there included a reference to the written consent of the appropriate regulator to the appointment of the proposed monitor.</p></content></subsection><subsection><num>(2)</num><content><p>The remaining provisions of this section apply in relation to a moratorium for a regulated company.</p></content></subsection><subsection><num>(3)</num><content><p>Any notice under section A8(2), A17(2) to (4) or A39(8) must also be sent by the monitor to the appropriate regulator.</p></content></subsection><subsection><num>(4)</num><content><p>The directors must give the appropriate regulator notice of any qualifying decision procedure by which a decision of the company's creditors is sought for the purposes of section A12(2) or A44(4)(c).</p></content></subsection><subsection><num>(5)</num><content><p>If the directors fail to comply with subsection (4), any director who did not have a reasonable excuse for the failure commits an offence.</p></content></subsection><subsection><num>(6)</num><content><p>The appropriate regulator, or a person appointed by the appropriate regulator, may in the way provided for by the rules, participate (but not vote) in any qualifying decision procedure by which a decision of the company's creditors is sought for the purposes of this Part.</p></content></subsection><subsection><num>(7)</num><content><p>The appropriate regulator is entitled to be heard on any application to the court for permission under section A31(1) or A32(1)
(disposal of charged property, etc).</p></content></subsection><subsection><num>(8)</num><content><p>The court may make an order under section A39(1) only if the appropriate regulator has given its written consent to the appointment of the proposed monitor.</p></content></subsection><subsection><num>(9)</num><content><p>The persons who may apply to the court under section A39(3), A42(1) or A44(1) include the appropriate regulator.</p></content></subsection><subsection><num>(10)</num><content><p>If a person other than a regulator applies to the court under section A39(3), A42(1) or A44(1) the appropriate regulator is entitled to be heard on the application.</p></content></subsection><subsection><num>(11)</num><content><p>If either regulator makes an application to the court under section A39(3), A42(1) or A44(1) in relation to a PRA-regulated company, the other regulator is entitled to be heard on the application.</p></content></subsection><subsection><num>(12)</num><content><p>This section does not affect any right that the appropriate regulator has (apart from this section) as a creditor of a regulated company.</p></content></subsection><subsection><num>(13)</num><intro><p>In this section—</p></intro><hcontainer name="definition"><intro><p>the appropriate regulator means—</p></intro><level class="para1"><num>(a)</num><content><p>where the regulated company is a PRA-regulated company, each of the Financial Conduct Authority and the Prudential Regulation Authority, and</p></content></level><level class="para1"><num>(b)</num><content><p>where the regulated company is not a PRA-regulated company, the Financial Conduct Authority;</p></content></level></hcontainer><hcontainer name="definition"><content><p>PRA-authorised person has the meaning given by section 2B(5) of the Financial Services and Markets Act 2000;</p></content></hcontainer><hcontainer name="definition"><intro><p>PRA-regulated company means a regulated company which—</p></intro><level class="para1"><num>(a)</num><content><p>is, or has been, a PRA-authorised person,</p></content></level><level class="para1"><num>(b)</num><content><p>is, or has been, an appointed representative within the meaning given by section 39 of the Financial Services and Markets Act 2000, whose principal (or one of whose principals) is, or was, a PRA-authorised person, or</p></content></level><level class="para1"><num>(c)</num><content><p>is carrying on, or has carried on, a PRA-regulated activity (within the meaning of section 22A of that Act) in contravention of the general prohibition;</p></content></level></hcontainer><hcontainer name="definition"><content><p>regulated activity has the meaning given by section 22 of the Financial Services and Markets Act 2000, taken with Schedule 2 to that Act and any order under that section;</p></content></hcontainer><hcontainer name="definition"><intro><p>regulated company means a company which—</p></intro><level class="para1"><num>(a)</num><content><p>is, or has been, an authorised person within the meaning given by section 31 of the Financial Services and Markets Act 2000,</p></content></level><level class="para1"><num>(b)</num><content><p>is, or has been, an appointed representative within the meaning given by section 39 of that Act, or</p></content></level><level class="para1"><num>(c)</num><content><p>is carrying on, or has carried on, a regulated activity in contravention of the general prohibition within the meaning given by section 19 of that Act;</p></content></level></hcontainer><hcontainer name="definition"><content><p>regulator means the Financial Conduct Authority or the Prudential Regulation Authority.</p></content></hcontainer></subsection><subsection><num>(14)</num><content><p>The Secretary of State may by regulations amend this section for the purposes of changing the definition of regulated company in subsection (13).</p></content></subsection><subsection><num>(15)</num><content><p>Regulations under subsection (14) are subject to the affirmative resolution procedure.</p></content></subsection></section><section><num>A50</num><heading>Power to modify this Part etc in relation to certain companies</heading><subsection><num>(1)</num><intro><p>The Secretary of State may by regulations make provision under the law of England and Wales or Scotland—</p></intro><level class="para1"><num>(a)</num><content><p>to modify this Part as it applies in relation to a company for which there is a special administration regime, or</p></content></level><level class="para1"><num>(b)</num><content><p>in connection with the interaction between this Part and any other insolvency procedure in relation to such a company.</p></content></level></subsection><subsection><num>(2)</num><intro><p>The Welsh Ministers may by regulations make provision under the law of England and Wales—</p></intro><level class="para1"><num>(a)</num><content><p>to modify this Part as it applies in relation to a company that is a social landlord registered under Part 1 of the Housing Act 1996, or</p></content></level><level class="para1"><num>(b)</num><content><p>make provision in connection with the interaction between this Part and any other insolvency procedure in relation to such a company.</p></content></level></subsection><subsection><num>(3)</num><intro><p>The Scottish Ministers may by regulations make provision under the law of Scotland—</p></intro><level class="para1"><num>(a)</num><content><p>to modify this Part as it applies in relation to a company that is a social landlord registered under Part 2 of the Housing (Scotland) Act 2010 (asp 17), or</p></content></level><level class="para1"><num>(b)</num><content><p>make provision in connection with the interaction between this Part and any other insolvency procedure in relation to such a company.</p></content></level></subsection><subsection><num>(4)</num><content><p>The Secretary of State may, by regulations, make any provision under the law of England and Wales, Scotland or Northern Ireland that appears to the Secretary of State to be appropriate in view of provision made under subsection (1), (2) or (3).</p></content></subsection><subsection><num>(5)</num><content><p>The power in subsection (1), (2), (3) or (4) may, in particular, be used to amend, repeal, revoke or otherwise modify any provision made by an enactment.</p></content></subsection><subsection><num>(6)</num><content><p>Regulations under subsection (1) or (4) are subject to the affirmative resolution procedure.</p></content></subsection><subsection><num>(7)</num><content><p>A statutory instrument containing regulations under subsection (2) may not be made unless a draft of the statutory instrument containing them has been laid before and approved by a resolution of Senedd Cymru.</p></content></subsection><subsection><num>(8)</num><content><p>Regulations made by the Scottish Ministers under subsection (3) are subject to the affirmative procedure (see section 29 of the Interpretation and Legislative Reform (Scotland) Act 2010 (asp 10)).</p></content></subsection><subsection><num>(9)</num><intro><p>In this section—</p></intro><hcontainer name="definition"><intro><p>insolvency procedure includes—</p></intro><level class="para1"><num>(a)</num><content><p>in relation to subsection (1)(b), the provision made by sections 143A to 159 of the Housing and Regeneration Act 2008;</p></content></level><level class="para1"><num>(b)</num><content><p>in relation to subsection (2)(b), the provision made by sections 39 to 50 of the Housing Act 1996;</p></content></level><level class="para1"><num>(c)</num><content><p>in relation to subsection (3)(b), the provision made by Part 7 of the Housing (Scotland) Act 2010;</p></content></level></hcontainer><hcontainer name="definition"><content><p>ordinary administration means the insolvency procedure provided for by Schedule B1;</p></content></hcontainer><hcontainer name="definition"><intro><p>special administration regime means provision made by an enactment for an insolvency procedure that—</p></intro><level class="para1"><num>(a)</num><content><p>is similar or corresponds to ordinary administration, and</p></content></level><level class="para1"><num>(b)</num><content><p>provides for the administrator to have one or more special objectives instead of or in addition to the objectives of ordinary administration.</p></content></level></hcontainer></subsection></section><section><num>A51</num><heading>Power to make provision in connection with pension schemes</heading><subsection><num>(1)</num><intro><p>The Secretary of State may by regulations provide that, in a case where—</p></intro><level class="para1"><num>(a)</num><intro><p>a moratorium—</p></intro><level class="para2"><num>(i)</num><content><p>is in force in relation to a company that is an employer in respect of an eligible scheme, or</p></content></level><level class="para2"><num>(ii)</num><content><p>is or has been in force in relation to a company that has been an employer in respect of an eligible scheme at any time during the moratorium, and</p></content></level></level><level class="para1"><num>(b)</num><content><p>the trustees or managers of the scheme are a creditor of the company,</p></content></level><wrapUp><p>the Board of the Pension Protection Fund may exercise any of the following rights.</p></wrapUp></subsection><subsection><num>(2)</num><intro><p>The rights are those which are exercisable by the trustees or managers as a creditor of the company under or by virtue of—</p></intro><level class="para1"><num>(a)</num><content><p>section A12, or</p></content></level><level class="para1"><num>(b)</num><content><p>a court order under section A44(4)(c).</p></content></level></subsection><subsection><num>(3)</num><intro><p>Regulations under subsection (1) may provide that the Board may exercise any such rights—</p></intro><level class="para1"><num>(a)</num><content><p>to the exclusion of the trustees or managers of the scheme, or</p></content></level><level class="para1"><num>(b)</num><content><p>in addition to the exercise of those rights by the trustees or managers of the scheme.</p></content></level></subsection><subsection><num>(4)</num><intro><p>Regulations under subsection (1)—</p></intro><level class="para1"><num>(a)</num><content><p>may specify conditions that must be met before the Board may exercise any such rights;</p></content></level><level class="para1"><num>(b)</num><content><p>may provide for any such rights to be exercisable by the Board for a specified period;</p></content></level><level class="para1"><num>(c)</num><content><p>may make provision in connection with any such rights ceasing to be so exercisable at the end of such a period.</p></content></level></subsection><subsection><num>(5)</num><content><p>Regulations under subsection (1) are subject to the affirmative resolution procedure.</p></content></subsection><subsection><num>(6)</num><content><p>In this section eligible scheme has the meaning given by section 126 of the Pensions Act 2004.</p></content></subsection></section></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Floating charges</i></heading><section><num>A52</num><heading>Void provisions in floating charge documents</heading><subsection><num>(1)</num><intro><p>A provision in an instrument creating a floating charge is void if it provides for the obtaining of a moratorium, or anything done with a view to obtaining a moratorium, to be—</p></intro><level class="para1"><num>(a)</num><content><p>an event causing the floating charge to crystallise,</p></content></level><level class="para1"><num>(b)</num><content><p>an event causing restrictions which would not otherwise apply to be imposed on the disposal of property by the company, or</p></content></level><level class="para1"><num>(c)</num><content><p>a ground for the appointment of a receiver.</p></content></level></subsection><subsection><num>(2)</num><content><p>The reference in subsection (1) to anything done with a view to obtaining a moratorium includes any preliminary decision or investigation.</p></content></subsection><subsection><num>(3)</num><content><p>In subsection (1)
receiver includes a manager and a person who is appointed both receiver and manager.</p></content></subsection><subsection><num>(4)</num><intro><p>Subsection (1) does not apply to a provision in an instrument creating a floating charge that is—</p></intro><level class="para1"><num>(a)</num><content><p>a collateral security (as defined by section A27);</p></content></level><level class="para1"><num>(b)</num><content><p>a market charge (as defined by section A27);</p></content></level><level class="para1"><num>(c)</num><content><p>a security financial collateral arrangement (within the meaning of regulation 3 of the Financial Collateral Arrangements (No. 2) Regulations 2003 (S.I. 2003/3226));</p></content></level><level class="para1"><num>(d)</num><content><p>a system-charge (as defined by section A27).</p></content></level></subsection></section></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Interpretation of this Part</i></heading><section><num>A53</num><heading>Meaning of pre-moratorium debt and moratorium debt</heading><subsection><num>(1)</num><intro><p>In this Part pre-moratorium debt, in relation to a company for which a moratorium is or has been in force, means—</p></intro><level class="para1"><num>(a)</num><content><p>any debt or other liability to which the company becomes subject before the moratorium comes into force, or</p></content></level><level class="para1"><num>(b)</num><content><p>any debt or other liability to which the company has become or may become subject during the moratorium by reason of any obligation incurred before the moratorium comes into force,</p></content></level><wrapUp><p>but this is subject to subsection (3).</p></wrapUp></subsection><subsection><num>(2)</num><intro><p>In this Part moratorium debt, in relation to a company for which a moratorium is or has been in force, means—</p></intro><level class="para1"><num>(a)</num><content><p>any debt or other liability to which the company becomes subject during the moratorium, other than by reason of an obligation incurred before the moratorium came into force, or</p></content></level><level class="para1"><num>(b)</num><content><p>any debt or other liability to which the company has become or may become subject after the end of the moratorium by reason of an obligation incurred during the moratorium,</p></content></level><wrapUp><p>but this is subject to subsection (3).</p></wrapUp></subsection><subsection><num>(3)</num><intro><p>For the purposes of this Part—</p></intro><level class="para1"><num>(a)</num><intro><p>a liability in tort or delict is a pre-moratorium debt if either—</p></intro><level class="para2"><num>(i)</num><content><p>the cause of action has accrued before the moratorium comes into force, or</p></content></level><level class="para2"><num>(ii)</num><content><p>all the elements necessary to establish the cause of action exist before the moratorium comes into force except for actionable damage;</p></content></level></level><level class="para1"><num>(b)</num><intro><p>a liability in tort or delict is a moratorium debt if it does not fall within paragraph (a) and either—</p></intro><level class="para2"><num>(i)</num><content><p>the cause of action has accrued during the moratorium, or</p></content></level><level class="para2"><num>(ii)</num><content><p>all the elements necessary to establish the cause of action exist before the moratorium comes to an end except for actionable damage.</p></content></level></level></subsection><subsection><num>(4)</num><content><p>The Secretary of State may by regulations amend this section for the purposes of changing the definition of pre-moratorium debt or moratorium debt in this Part.</p></content></subsection><subsection><num>(5)</num><content><p>Regulations under subsection (4) are subject to the affirmative resolution procedure.</p></content></subsection></section><section><num>A54</num><heading>Interpretation of this Part: general</heading><subsection><num>(1)</num><intro><p>In this Part—</p></intro><hcontainer name="definition"><intro><p>company means—</p></intro><level class="para1"><num>(a)</num><content><p>a company registered under the Companies Act 2006 in England and Wales or Scotland, or</p></content></level><level class="para1"><num>(b)</num><content><p>an unregistered company that may be wound up under Part 5 of this Act;</p></content></level></hcontainer><hcontainer name="definition"><content><p>the court means such court as is prescribed;</p></content></hcontainer><hcontainer name="definition"><content><p>eligible, in relation to a company, has the meaning given by Schedule ZA1;</p></content></hcontainer><hcontainer name="definition"><intro><p>employer, in relation to a pension scheme—</p></intro><level class="para1"><num>(a)</num><content><p>in sections A8(2)(c), A17(8)(c) and A39(8)(c), means an employer within the meaning of section 318(1) of the Pensions Act 2004;</p></content></level><level class="para1"><num>(b)</num><content><p>elsewhere in this Part, has the same meaning that it has for the purposes of Part 2 of the Pensions Act 2004 (see section 318(1) and (4) of that Act);</p></content></level></hcontainer><hcontainer name="definition"><content><p>enactment includes an Act of the Scottish Parliament and an instrument made under such an Act;</p></content></hcontainer><hcontainer name="definition"><content><p>hire-purchase agreement includes a conditional sale agreement, a chattel leasing agreement and a retention of title agreement;</p></content></hcontainer><hcontainer name="definition"><content><p>liability means (subject to subsection (2)) a liability to pay money or money's worth, including any liability under an enactment, a liability for breach of trust, any liability in contract, tort, delict or bailment, and any liability arising out of an obligation to make restitution;</p></content></hcontainer><hcontainer name="definition"><content><p>money purchase scheme has the meaning given by section 181(1) of the Pension Schemes Act 1993;</p></content></hcontainer><hcontainer name="definition"><content><p>the monitor, in relation to a moratorium, means the person who has the functions of the monitor in relation to the moratorium (see also section A40 for cases where two or more persons act as the monitor);</p></content></hcontainer><hcontainer name="definition"><content><p>moratorium means a moratorium under this Part;</p></content></hcontainer><hcontainer name="definition"><content><p>moratorium debt has the meaning given by section A53;</p></content></hcontainer><hcontainer name="definition"><content><p>occupational pension scheme has the meaning given by section 1 of the Pension Schemes Act 1993;</p></content></hcontainer><hcontainer name="definition"><content><p>pension scheme has the meaning given by section 1 of the Pension Schemes Act 1993;</p></content></hcontainer><hcontainer name="definition"><content><p>pre-moratorium debt has the meaning given by section A53;</p></content></hcontainer><hcontainer name="definition"><content><p>qualified person means a person qualified to act as an insolvency practitioner;</p></content></hcontainer><hcontainer name="definition"><intro><p>unable to pay its debts—</p></intro><level class="para1"><num>(a)</num><content><p>in relation to a registered company, has the same meaning as in Part 4 (see section 123);</p></content></level><level class="para1"><num>(b)</num><content><p>in relation to an unregistered company, has the same meaning as in Part 5 (see sections 222 to 224).</p></content></level></hcontainer></subsection><subsection><num>(2)</num><content><p>For the purposes of references in any provision of this Part to a debt or liability it is immaterial whether the debt or liability is present or future, whether it is certain or contingent, or whether its amount is fixed or liquidated, or is capable of being ascertained by fixed rules or as a matter of opinion.</p></content></subsection><subsection><num>(3)</num><content><p>In this Part references to filing a document with the court are, in relation to a court in Scotland, references to lodging it in court.</p></content></subsection><subsection><num>(4)</num><content><p>The Secretary of State may by regulations amend this section for the purposes of changing the definition of qualified person in subsection (1).</p></content></subsection><subsection><num>(5)</num><content><p>Regulations under subsection (4) are subject to the affirmative resolution procedure.</p></content></subsection></section></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Regulations</i></heading><section><num>A55</num><heading>Regulations</heading><subsection><num>(1)</num><intro><p>Regulations under this Part may make—</p></intro><level class="para1"><num>(a)</num><content><p>different provision for different purposes;</p></content></level><level class="para1"><num>(b)</num><content><p>consequential, supplementary, incidental or transitional provision or savings.</p></content></level></subsection><subsection><num>(2)</num><content><p>Regulations under this Part are to be made by statutory instrument, unless they are made by the Scottish Ministers.</p></content></subsection><subsection><num>(3)</num><content><p>Where regulations of the Secretary of State under this Part are subject to the affirmative resolution procedure, they may not be made unless a draft of the statutory instrument containing them has been laid before Parliament and approved by a resolution of each House of Parliament.</p></content></subsection></section></hcontainer></chapter></part></quotedStructure></mod></p></content></subsection>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-1-2"><num>(2)</num><content><p>Schedule 1 inserts into the Insolvency Act 1986 a new Schedule ZA1 (eligible companies).</p></content></subsection>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-1-3"><num>(3)</num><content><p>Schedule 2 inserts into the Insolvency Act 1986 a new Schedule ZA2 (contracts involving financial services).</p></content></subsection>
<section xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-2"><num>2</num><heading>Moratoriums in Great Britain: further amendments and transition</heading><subsection eId="section-2-1"><num>(1)</num><content><p>Schedule 3 contains consequential and other amendments to do with moratoriums under new Part A1 of the Insolvency Act 1986.</p></content></subsection><subsection eId="section-2-2"><num>(2)</num><content><p>Nothing in this Act affects the operation of the Insolvency Act 1986, or any other enactment, in relation to a moratorium under Schedule A1 to that Act which comes into force before the repeal of that Schedule by Schedule 3 to this Act.</p></content></subsection><subsection eId="section-2-3"><num>(3)</num><content><p>Subsection (2) is without prejudice to the operation of section 16 of the Interpretation Act 1978 (general savings).</p></content></subsection></section>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-2-1"><num>(1)</num><content><p>Schedule 3 contains consequential and other amendments to do with moratoriums under new Part A1 of the Insolvency Act 1986.</p></content></subsection>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-2-2"><num>(2)</num><content><p>Nothing in this Act affects the operation of the Insolvency Act 1986, or any other enactment, in relation to a moratorium under Schedule A1 to that Act which comes into force before the repeal of that Schedule by Schedule 3 to this Act.</p></content></subsection>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-2-3"><num>(3)</num><content><p>Subsection (2) is without prejudice to the operation of section 16 of the Interpretation Act 1978 (general savings).</p></content></subsection>
<section xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-3"><num>3</num><heading>Moratoriums in Great Britain: temporary modifications</heading><content><p>Schedule 4 makes temporary modifications to Part A1 of the Insolvency Act 1986 (moratorium) and other temporary provision in connection with that Part.</p></content></section>
<section xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" xmlns:default="http://www.w3.org/1999/xhtml" xmlns:fo="http://www.w3.org/1999/XSL/Format" eId="section-4"><num>4</num><heading>Moratoriums in Northern Ireland</heading><subsection eId="section-4-1"><num>(1)</num><content><p><mod>In the Insolvency (Northern Ireland) Order 1989 (<ref eId="c00010" href="http://www.legislation.gov.uk/id/nisi/1989/2405">S.I. 1989/2405 (N.I. 19)</ref>), immediately before Part 2 (and after the heading before Parts 2 to 7) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="order" ukl:Context="main" ukl:Format="double"><part><num>PART 1A</num><heading>Moratorium</heading><chapter><num>CHAPTER 1</num><heading>Introductory</heading><article><heading>Overview</heading><num>13A</num><paragraph><num>(1)</num><content><p>This Part contains provision that enables an eligible company, in certain circumstances, to obtain a moratorium, giving it various protections from creditors set out in this Part.</p></content></paragraph><paragraph><num>(2)</num><content><p>In this Chapter Article <ref href="#d28e4611">13AA</ref> introduces Schedule ZA1 (which defines what is meant by an “eligible” company).</p></content></paragraph><paragraph><num>(3)</num><content><p>Chapter 2 sets out how an eligible company may obtain a moratorium.</p></content></paragraph><paragraph><num>(4)</num><content><p>Chapter 3 sets out for how long a moratorium has effect.</p></content></paragraph><paragraph><num>(5)</num><content><p>Chapter 4 sets out the effects of a moratorium on the company and its creditors.</p></content></paragraph><paragraph><num>(6)</num><content><p>Chapter 5 contains provision about the monitor.</p></content></paragraph><paragraph><num>(7)</num><content><p>Chapter 6 contains provision about challenges.</p></content></paragraph><paragraph><num>(8)</num><content><p>Chapter 7 contains provision about certain offences.</p></content></paragraph><paragraph><num>(9)</num><intro><p>Chapter 8 contains miscellaneous and general provision, including—</p></intro><level class="para1"><num>(a)</num><content><p>special provision for certain kinds of company;</p></content></level><level class="para1"><num>(b)</num><content><p>definitions for the purposes of this Part;</p></content></level><level class="para1"><num>(c)</num><content><p>provision about regulations under this Part.</p></content></level></paragraph></article><article eId="d28e4611"><heading>Eligible companies</heading><num>13AA</num><content><p>Schedule ZA1 contains provision for determining whether a company is an eligible company for the purposes of this Part.</p></content></article></chapter><chapter><num>CHAPTER 2</num><heading>Obtaining a moratorium</heading><article eId="d28e4625"><heading>Obtaining a moratorium by filing documents at High Court</heading><num>13B</num><paragraph eId="d28e4629"><num>(1)</num><intro><p>This Article applies to an eligible company that—</p></intro><level class="para1" eId="d28e4635"><num>(a)</num><content><p>is not subject to an outstanding winding-up petition, and</p></content></level><level class="para1"><num>(b)</num><content><p>is not an overseas company.</p></content></level></paragraph><paragraph eId="d28e4647"><num>(2)</num><content><p>The directors of the company may obtain a moratorium for the company by filing the relevant documents with the High Court (for the relevant documents, see Article <ref href="#d28e4790">13BC</ref>).</p></content></paragraph><paragraph eId="d28e4656"><num>(3)</num><intro><p>For the purposes of this Chapter a company is “subject to an outstanding winding-up petition” if—</p></intro><level class="para1"><num>(a)</num><content><p>a petition for the winding up of the company has been presented, and</p></content></level><level class="para1"><num>(b)</num><content><p>the petition has not been withdrawn or determined.</p></content></level></paragraph></article><article eId="d28e4677"><heading>Obtaining a moratorium for company subject to winding-up petition</heading><num>13BA</num><paragraph eId="d28e4681"><num>(1)</num><content><p>This Article applies to an eligible company that is subject to an outstanding winding-up petition.</p></content></paragraph><paragraph><num>(2)</num><content><p>The directors of the company may apply to the High Court for a moratorium for the company.</p></content></paragraph><paragraph><num>(3)</num><content><p>The application must be accompanied by the relevant documents (for the relevant documents, see Article <ref href="#d28e4790">13BC</ref>).</p></content></paragraph><paragraph><num>(4)</num><intro><p>On hearing the application the Court may—</p></intro><level class="para1" eId="d28e4708"><num>(a)</num><content><p>make an order that the company should be subject to a moratorium, or</p></content></level><level class="para1"><num>(b)</num><content><p>make any other order which the Court thinks appropriate.</p></content></level></paragraph><paragraph><num>(5)</num><content><p>The Court may make an order under paragraph <ref href="#d28e4708">(4)(a)</ref> only if it is satisfied that a moratorium for the company would achieve a better result for the company’s creditors as a whole than would be likely if the company were wound up (without first being subject to a moratorium).</p></content></paragraph></article><article eId="d28e4732"><heading>Obtaining a moratorium for other overseas companies</heading><num>13BB</num><paragraph><num>(1)</num><intro><p>This Article applies to an eligible company that—</p></intro><level class="para1"><num>(a)</num><content><p>is not subject to an outstanding winding-up petition, and</p></content></level><level class="para1"><num>(b)</num><content><p>is an overseas company.</p></content></level></paragraph><paragraph><num>(2)</num><content><p>The directors of the company may apply to the High Court for a moratorium for the company.</p></content></paragraph><paragraph><num>(3)</num><content><p>The application must be accompanied by the relevant documents (for the relevant documents, see Article <ref href="#d28e4790">13BC</ref>).</p></content></paragraph><paragraph><num>(4)</num><intro><p>On hearing the application the Court may—</p></intro><level class="para1" eId="d28e4775"><num>(a)</num><content><p>make an order that the company should be subject to a moratorium, or</p></content></level><level class="para1"><num>(b)</num><content><p>make any other order which the Court thinks appropriate.</p></content></level></paragraph></article><article eId="d28e4790"><heading>The relevant documents</heading><num>13BC</num><paragraph eId="d28e4794"><num>(1)</num><intro><p>For the purposes of this Chapter, “the relevant documents” are—</p></intro><level class="para1" eId="d28e4800"><num>(a)</num><content><p>a notice that the directors wish to obtain a moratorium,</p></content></level><level class="para1" eId="d28e4806"><num>(b)</num><intro><p>a statement from a qualified person (“the proposed monitor”) that the person—</p></intro><level class="para2"><num>(i)</num><content><p>is a qualified person, and</p></content></level><level class="para2"><num>(ii)</num><content><p>consents to act as the monitor in relation to the proposed moratorium,</p></content></level></level><level class="para1" eId="d28e4824"><num>(c)</num><content><p>a statement from the proposed monitor that the company is an eligible company,</p></content></level><level class="para1" eId="d28e4830"><num>(d)</num><content><p>a statement from the directors that, in their view, the company is, or is likely to become, unable to pay its debts, and</p></content></level><level class="para1" eId="d28e4836"><num>(e)</num><content><p>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.</p></content></level></paragraph><paragraph eId="d28e4842"><num>(2)</num><intro><p>Where it is proposed that more than one person should act as the monitor in relation to the proposed moratorium—</p></intro><level class="para1"><num>(a)</num><content><p>each of them must make a statement under paragraph <ref href="#d28e4806">(1)(b)</ref>, <ref href="#d28e4824">(c)</ref> and <ref href="#d28e4836">(e)</ref>, and</p></content></level><level class="para1"><num>(b)</num><intro><p>the statement under paragraph <ref href="#d28e4806">(1)(b)</ref> must specify—</p></intro><level class="para2"><num>(i)</num><content><p>which functions (if any) are to be exercised by the persons acting jointly, and</p></content></level><level class="para2"><num>(ii)</num><content><p>which functions (if any) are to be exercised by any or all of the persons.</p></content></level></level></paragraph><paragraph><num>(3)</num><content><p>The rules may make provision about the date on which a statement comprised in the relevant documents must be made.</p></content></paragraph><paragraph eId="d28e4890"><num>(4)</num><content><p>Regulations may amend this Article for the purposes of adding to the list of documents in paragraph <ref href="#d28e4794">(1)</ref>.</p></content></paragraph><paragraph><num>(5)</num><content><p>Regulations may not be made under paragraph <ref href="#d28e4890">(4)</ref> unless a draft of the regulations has been laid before, and approved by a resolution of, the Assembly.</p></content></paragraph></article><article><heading>Beginning of moratorium and appointment of monitor</heading><num>13BD</num><paragraph><num>(1)</num><intro><p>A moratorium for a company comes into force at the time at which—</p></intro><level class="para1"><num>(a)</num><content><p>in the case of a company to which Article <ref href="#d28e4625">13B</ref> applies, the relevant documents are filed with the High Court under paragraph <ref href="#d28e4647">(2)</ref> of that Article;</p></content></level><level class="para1"><num>(b)</num><content><p>in the case of a company to which Article <ref href="#d28e4677">13BA</ref> applies, an order is made under Article <ref href="#d28e4677">13BA</ref><ref href="#d28e4708">(4)(a)</ref>;</p></content></level><level class="para1"><num>(c)</num><content><p>in the case of a company to which Article <ref href="#d28e4732">13BB</ref> applies, an order is made under Article <ref href="#d28e4732">13BB</ref><ref href="#d28e4775">(4)(a)</ref>.</p></content></level></paragraph><paragraph><num>(2)</num><content><p>On the coming into force of a moratorium, the person or persons who made the statement mentioned in Article <ref href="#d28e4790">13BC</ref><ref href="#d28e4806">(1)(b)</ref> become the monitor in relation to the moratorium.</p></content></paragraph></article><article eId="d28e4975"><heading>Obligations to notify where moratorium comes into force</heading><num>13BE</num><paragraph eId="d28e4979"><num>(1)</num><content><p>As soon as reasonably practicable after a moratorium for a company comes into force, the directors must notify the monitor of that fact.</p></content></paragraph><paragraph eId="d28e4985"><num>(2)</num><intro><p>As soon as reasonably practicable after receiving a notice under paragraph <ref href="#d28e4979">(1)</ref>, the monitor must notify the following that a moratorium for the company has come into force—</p></intro><level class="para1" eId="d28e4994"><num>(a)</num><content><p>the registrar,</p></content></level><level class="para1"><num>(b)</num><content><p>every creditor of the company of whose claim the monitor is aware,</p></content></level><level class="para1"><num>(c)</num><content><p>in a case where the company is or has been an employer in respect of an occupational pension scheme that is not a money purchase scheme, the Pensions Regulator, and</p></content></level><level class="para1"><num>(d)</num><content><p>in a case where the company is an employer in respect of such a pension scheme that is an eligible scheme within the meaning given by Article 110 of the Pensions (Northern Ireland) Order 2005, the Board of the Pension Protection Fund.</p></content></level></paragraph><paragraph><num>(3)</num><intro><p>A notice under paragraph <ref href="#d28e4985">(2)</ref> must specify—</p></intro><level class="para1"><num>(a)</num><content><p>when the moratorium came into force, and</p></content></level><level class="para1"><num>(b)</num><content><p>when, subject to any alteration under or by virtue of any of the provisions mentioned in Article <ref href="#d28e5076">13C</ref><ref href="#d28e5098">(3)</ref> or <ref href="#d28e5140">(4)</ref>, the moratorium will come to an end.</p></content></level></paragraph><paragraph eId="d28e5047"><num>(4)</num><content><p>If the directors fail to comply with paragraph <ref href="#d28e4979">(1)</ref>, any director who did not have a reasonable excuse for the failure commits an offence.</p></content></paragraph><paragraph eId="d28e5056"><num>(5)</num><content><p>If the monitor without reasonable excuse fails to comply with paragraph <ref href="#d28e4985">(2)</ref>, the monitor commits an offence.</p></content></paragraph></article></chapter><chapter><num>CHAPTER 3</num><heading>Length of moratorium</heading><hcontainer name="crossheading" ukl:Name="Pblock"><heading>Initial period</heading><article eId="d28e5076"><heading>End of the moratorium</heading><num>13C</num><paragraph eId="d28e5080"><num>(1)</num><content><p>A moratorium ends at the end of the initial period unless it is extended, or comes to an end sooner, under or by virtue of a provision mentioned in paragraph <ref href="#d28e5098">(3)</ref> or <ref href="#d28e5140">(4)</ref>.</p></content></paragraph><paragraph><num>(2)</num><content><p>In this Chapter “the initial period”, in relation to a moratorium, means the period of 20 business days beginning with the business day after the day on which the moratorium comes into force.</p></content></paragraph><paragraph eId="d28e5098"><num>(3)</num><content><p>For provision under or by virtue of which a moratorium is or may be extended, see—</p><blockList class="unordered none" ukl:Name="UnorderedList" ukl:Decoration="none"><item><p>Article <ref href="#d28e5198">13CA</ref> (extension by directors without creditor consent);</p></item><item><p>Article <ref href="#d28e5277">13CB</ref> (extension by directors with creditor consent);</p></item><item><p>Article <ref href="#d28e5462">13CD</ref> (extension by High Court on application of directors);</p></item><item><p>Article <ref href="#d28e5647">13CE</ref> (extension while proposal for CVA pending);</p></item><item><p>Article <ref href="#d28e5735">13CF</ref> (extension by High Court in course of other proceedings).</p></item></blockList></content></paragraph><paragraph eId="d28e5140"><num>(4)</num><content><p>For provision under or by virtue of which the moratorium is or may be terminated, see—</p><blockList class="unordered none" ukl:Name="UnorderedList" ukl:Decoration="none"><item><p>Article <ref href="#d28e5772">13CG</ref> (termination on entry into insolvency procedure etc);</p></item><item><p>Article <ref href="#d28e7714">13ED</ref> (termination by monitor);</p></item><item><p>Article <ref href="#d28e8013">13F</ref> or <ref href="#d28e8171">13FB</ref> (termination by High Court).</p></item></blockList></content></paragraph><paragraph><num>(5)</num><content><p>A moratorium may not be extended under a provision mentioned in paragraph <ref href="#d28e5098">(3)</ref> once it has come to an end.</p></content></paragraph><paragraph><num>(6)</num><content><p>Where the application of two or more of the provisions mentioned in paragraphs <ref href="#d28e5098">(3)</ref> and <ref href="#d28e5140">(4)</ref> would produce a different length of moratorium, the provision that applies last is to prevail (irrespective of whether that results in a shorter or longer moratorium).</p></content></paragraph></article></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading>Extension of moratorium</heading><article eId="d28e5198"><heading>Extension by directors without creditor consent</heading><num>13CA</num><paragraph eId="d28e5202"><num>(1)</num><intro><p>During the initial period, but after the first 15 business days of that period, the directors may extend the moratorium by filing with the High Court—</p></intro><level class="para1" eId="d28e5208"><num>(a)</num><content><p>a notice that the directors wish to extend the moratorium,</p></content></level><level class="para1" eId="d28e5214"><num>(b)</num><intro><p>a statement from the directors that all of the following that have fallen due have been paid or otherwise discharged—</p></intro><level class="para2"><num>(i)</num><content><p>moratorium debts, and</p></content></level><level class="para2"><num>(ii)</num><content><p>pre-moratorium debts for which the company does not have a payment holiday during the moratorium (see Article <ref href="#d28e6094">13D</ref>),</p></content></level></level><level class="para1" eId="d28e5235"><num>(c)</num><content><p>a statement from the directors that, in their view, the company is, or is likely to become, unable to pay its pre-moratorium debts, and</p></content></level><level class="para1" eId="d28e5241"><num>(d)</num><content><p>a statement from the monitor that, in the monitor’s view, it is likely that the moratorium will result in the rescue of the company as a going concern.</p></content></level></paragraph><paragraph><num>(2)</num><content><p>The rules may make provision about the date on which a statement mentioned in paragraph <ref href="#d28e5202">(1)</ref> must be made.</p></content></paragraph><paragraph><num>(3)</num><intro><p>On the filing with the Court of the documents mentioned in paragraph (1), the moratorium is extended so that it ends at the end of the period—</p></intro><level class="para1"><num>(a)</num><content><p>beginning immediately after the initial period ends, and</p></content></level><level class="para1"><num>(b)</num><content><p>ending with the 20th business day after the initial period ends.</p></content></level></paragraph></article><article eId="d28e5277"><heading>Extension by directors with creditor consent</heading><num>13CB</num><paragraph eId="d28e5281"><num>(1)</num><intro><p>At any time after the first 15 business days of the initial period the directors may, if they have obtained creditor consent, extend the moratorium by filing with the High Court—</p></intro><level class="para1" eId="d28e5287"><num>(a)</num><content><p>a notice that the directors wish to extend the moratorium,</p></content></level><level class="para1" eId="d28e5293"><num>(b)</num><intro><p>a statement from the directors that all of the following that have fallen due have been paid or otherwise discharged—</p></intro><level class="para2"><num>(i)</num><content><p>moratorium debts, and</p></content></level><level class="para2"><num>(ii)</num><content><p>pre-moratorium debts for which the company does not have a payment holiday during the moratorium (see Article <ref href="#d28e6094">13D</ref>),</p></content></level></level><level class="para1" eId="d28e5314"><num>(c)</num><content><p>a statement from the directors that, in their view, the company is, or is likely to become, unable to pay its pre-moratorium debts,</p></content></level><level class="para1" eId="d28e5320"><num>(d)</num><content><p>a statement from the monitor that, in the monitor’s view, it is likely that the moratorium will result in the rescue of the company as a going concern, and</p></content></level><level class="para1" eId="d28e5326"><num>(e)</num><content><p>a statement from the directors that creditor consent has been obtained, and of the revised end date for which that consent was obtained.</p></content></level></paragraph><paragraph><num>(2)</num><content><p>The rules may make provision about the date on which a statement mentioned in paragraph <ref href="#d28e5281">(1)</ref> must be made.</p></content></paragraph><paragraph><num>(3)</num><content><p>On the filing with the Court of the documents mentioned in paragraph <ref href="#d28e5281">(1)</ref>, the moratorium is extended so that it ends with the revised end date mentioned in the statement under paragraph <ref href="#d28e5326">(1)(e)</ref>.</p></content></paragraph><paragraph><num>(4)</num><content><p>A moratorium may be extended under this Article more than once.</p></content></paragraph></article><article eId="d28e5364"><heading>Creditor consent for the purposes of Article <ref href="#d28e5277">13CB</ref></heading><num>13CC</num><paragraph eId="d28e5368"><num>(1)</num><content><p>References in Article <ref href="#d28e5277">13CB</ref> to creditor consent are to the consent of pre-moratorium creditors to a revised end date for the moratorium.</p></content></paragraph><paragraph eId="d28e5377"><num>(2)</num><content><p>The decision as to consent is to be made at a meeting of pre-moratorium creditors.</p></content></paragraph><paragraph><num>(3)</num><intro><p>A meeting under paragraph (2)—</p></intro><level class="para1"><num>(a)</num><content><p>is to be held at such time, date and place as the directors think fit, and</p></content></level><level class="para1"><num>(b)</num><content><p>is to be conducted in accordance with the rules.</p></content></level></paragraph><paragraph eId="d28e5401"><num>(4)</num><content><p>The revised end date must be a date before the end of the period of one year beginning with the first day of the initial period.</p></content></paragraph><paragraph eId="d28e5407"><num>(5)</num><intro><p>In this Article “pre-moratorium creditor” means a creditor in respect of a pre-moratorium debt—</p></intro><level class="para1"><num>(a)</num><content><p>for which the company has a payment holiday during the moratorium (see Article <ref href="#d28e6094">13D</ref>), and</p></content></level><level class="para1"><num>(b)</num><content><p>which has not been paid or otherwise discharged.</p></content></level></paragraph><paragraph eId="d28e5428"><num>(6)</num><content><p>In determining for the purposes of paragraph <ref href="#d28e5407">(5)</ref> what counts as a pre-moratorium debt for which the company has a payment holiday during the moratorium, Articles <ref href="#d28e6094">13D</ref><ref href="#d28e6113">(3)</ref> and <ref href="#d28e9199">13HD</ref><ref href="#d28e9215">(1)(b)</ref> apply as if the references to the moratorium were to the moratorium as proposed to be extended.</p></content></paragraph><paragraph><num>(7)</num><content><p>Regulations may amend this Article for the purposes of changing the definition of “pre-moratorium creditor”.</p></content></paragraph><paragraph><num>(8)</num><content><p>Regulations may not be made under paragraph (7) unless a draft of the regulations has been laid before, and approved by a resolution of, the Assembly.</p></content></paragraph></article><article eId="d28e5462"><heading>Extension by High Court on application of directors</heading><num>13CD</num><paragraph eId="d28e5466"><num>(1)</num><content><p>At any time after the first 15 business days of the initial period, the directors may apply to the High Court for an order that the moratorium be extended.</p></content></paragraph><paragraph eId="d28e5472"><num>(2)</num><intro><p>The application must be accompanied by—</p></intro><level class="para1"><num>(a)</num><intro><p>a statement from the directors that all of the following that have fallen due have been paid or otherwise discharged—</p></intro><level class="para2"><num>(i)</num><content><p>moratorium debts, and</p></content></level><level class="para2"><num>(ii)</num><content><p>pre-moratorium debts for which the company does not have a payment holiday during the moratorium (see Article <ref href="#d28e6094">13D</ref>),</p></content></level></level><level class="para1"><num>(b)</num><content><p>a statement from the directors that, in their view, the company is, or is likely to become, unable to pay its pre-moratorium debts,</p></content></level><level class="para1"><num>(c)</num><content><p>a statement from the directors as to whether pre-moratorium creditors (as defined by Article <ref href="#d28e5364">13CC</ref><ref href="#d28e5407">(5)</ref> and <ref href="#d28e5428">(6)</ref>) have been consulted about the application and if not why not, and</p></content></level><level class="para1" eId="d28e5519"><num>(d)</num><content><p>a statement from the monitor that, in the monitor’s view, it is likely that the moratorium will result in the rescue of the company as a going concern.</p></content></level></paragraph><paragraph><num>(3)</num><content><p>The rules may make provision about the date on which a statement mentioned in paragraph <ref href="#d28e5472">(2)</ref> must be made.</p></content></paragraph><paragraph eId="d28e5534"><num>(4)</num><intro><p>On hearing the application the Court may—</p></intro><level class="para1" eId="d28e5540"><num>(a)</num><content><p>make an order that the moratorium be extended to such date as is specified in the order, or</p></content></level><level class="para1"><num>(b)</num><content><p>make any other order which the Court thinks appropriate.</p></content></level></paragraph><paragraph><num>(5)</num><intro><p>In deciding whether to make an order under paragraph <ref href="#d28e5540">(4)(a)</ref> the Court must, in particular, consider the following—</p></intro><level class="para1"><num>(a)</num><content><p>the interests of pre-moratorium creditors, as defined by Article <ref href="#d28e5364">13CC</ref><ref href="#d28e5407">(5)</ref> and <ref href="#d28e5428">(6)</ref>, and</p></content></level><level class="para1"><num>(b)</num><content><p>the likelihood that the extension of the moratorium will result in the rescue of the company as a going concern.</p></content></level></paragraph><paragraph><num>(6)</num><intro><p>Paragraph <ref href="#d28e5602">(7)</ref> applies where—</p></intro><level class="para1"><num>(a)</num><content><p>an application under this Article is made, and</p></content></level><level class="para1" eId="d28e5596"><num>(b)</num><content><p>apart from that paragraph, the moratorium would end at a time before the application has been disposed of.</p></content></level></paragraph><paragraph eId="d28e5602"><num>(7)</num><intro><p>The moratorium—</p></intro><level class="para1" eId="d28e5608"><num>(a)</num><content><p>does not end at the time mentioned in paragraph <ref href="#d28e5596">(6)(b)</ref>, and</p></content></level><level class="para1" eId="d28e5617"><num>(b)</num><intro><p>instead, ends—</p></intro><level class="para2" eId="d28e5623"><num>(i)</num><content><p>in a case in which the Court makes an order under paragraph <ref href="#d28e5540">(4)(a)</ref>, in accordance with the order;</p></content></level><level class="para2" eId="d28e5632"><num>(ii)</num><content><p>otherwise, when the application is withdrawn or disposed of.</p></content></level></level></paragraph><paragraph><num>(8)</num><content><p>A moratorium may be extended under this Article more than once.</p></content></paragraph></article><article eId="d28e5647"><heading>Extension while proposal for CVA pending</heading><num>13CE</num><paragraph><num>(1)</num><intro><p>Paragraph <ref href="#d28e5672">(2)</ref> applies where—</p></intro><level class="para1"><num>(a)</num><content><p>at any time, the directors make a proposal under Part 2 (company voluntary arrangements), and</p></content></level><level class="para1"><num>(b)</num><content><p>apart from that paragraph, the moratorium would end at a time before the proposal is disposed of.</p></content></level></paragraph><paragraph eId="d28e5672"><num>(2)</num><intro><p>The moratorium—</p></intro><level class="para1" eId="d28e5678"><num>(a)</num><content><p>does not end at the time mentioned in paragraph (1)(b), and</p></content></level><level class="para1" eId="d28e5684"><num>(b)</num><content><p>instead, ends when the proposal is disposed of.</p></content></level></paragraph><paragraph><num>(3)</num><intro><p>For the purposes of this Article a proposal under Part 2 is “disposed of” when any of the following takes place—</p></intro><level class="para1"><num>(a)</num><content><p>the company and its creditors both decide under Article 17 not to approve the voluntary arrangement contained in the proposal;</p></content></level><level class="para1"><num>(b)</num><intro><p>the decisions taken by the company and its creditors under Article 17 differ, and—</p></intro><level class="para2"><num>(i)</num><content><p>the period for making an application under Article 17A(3) expires and either no application has been made within that period or any application made within that period has been withdrawn, or</p></content></level><level class="para2"><num>(ii)</num><content><p>an application is made under Article 17A(3) and that application is disposed of, or it is withdrawn after the expiry of the period for making an application under Article 17A(3);</p></content></level></level><level class="para1"><num>(c)</num><content><p>the voluntary arrangement contained in the proposal takes effect under Article 18;</p></content></level><level class="para1"><num>(d)</num><content><p>the proposal is withdrawn.</p></content></level></paragraph></article><article eId="d28e5735"><heading>Extension by High Court in the course of other proceedings</heading><num>13CF</num><paragraph><num>(1)</num><intro><p>Paragraph <ref href="#d28e5760">(2)</ref> applies where—</p></intro><level class="para1"><num>(a)</num><content><p>an application is made under section 896 or 901C(1) of the Companies Act 2006 (arrangements and reconstructions: court order for holding of meeting) in respect of a company, and</p></content></level><level class="para1"><num>(b)</num><content><p>during proceedings before the High Court in connection with the application, a moratorium for the company is in force.</p></content></level></paragraph><paragraph eId="d28e5760"><num>(2)</num><content><p>The High Court may make an order that the moratorium be extended to such date as is specified in the order.</p></content></paragraph></article></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading>Early termination on certain grounds</heading><article eId="d28e5772"><heading>Company enters into insolvency procedure etc</heading><num>13CG</num><paragraph><num>(1)</num><intro><p>A moratorium comes to an end at any time at which the company—</p></intro><level class="para1"><num>(a)</num><content><p>enters into a compromise or arrangement (see paragraph (2)), or</p></content></level><level class="para1"><num>(b)</num><content><p>enters into a relevant insolvency procedure (see paragraph (3)).</p></content></level></paragraph><paragraph><num>(2)</num><content><p>For the purposes of this Article a company enters into a compromise or arrangement if an order under section 899 or 901F of the Companies Act 2006 (court sanction for compromise or arrangement) comes into effect in relation to the company.</p></content></paragraph><paragraph><num>(3)</num><intro><p>For the purposes of this Article a company enters into a relevant insolvency procedure if—</p></intro><level class="para1"><num>(a)</num><content><p>a voluntary arrangement takes effect under Article 18 in relation to the company,</p></content></level><level class="para1"><num>(b)</num><content><p>the company enters administration (within the meaning of Schedule B1 (see paragraph 2(2)(b) of that Schedule)),</p></content></level><level class="para1"><num>(c)</num><content><p>paragraph 45 of Schedule B1 (administration: interim moratorium) begins to apply in relation to the company, or</p></content></level><level class="para1"><num>(d)</num><content><p>the company goes into liquidation (see Article 6).</p></content></level></paragraph></article></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading>Obligations to notify change in end of moratorium</heading><article eId="d28e5836"><heading>Obligations to notify change in end of moratorium</heading><num>13CH</num><paragraph eId="d28e5840"><num>(1)</num><content><p>The table imposes obligations on the directors of a company to notify the monitor where a moratorium for the company is extended or comes to an end.</p><tblock class="table" ukl:Orientation="portrait"><foreign><default:table xmlns="http://www.w3.org/1999/xhtml"><default:col span="1" style="width:7%"/><default:col span="1" style="width:37%"/><default:col span="1" style="width:56%"/><default:thead><default:tr><default:th xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"/><default:th xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Where a moratorium is extended or comes to an end under or by virtue of the following provision</p></default:th><default:th xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">the directors must </p></default:th></default:tr></default:thead><default:tbody><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-top-style="solid" fo:border-top-width="0.5pt" fo:border-top-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black" fo:border-top-style="solid" fo:border-top-width="0.5pt" fo:border-top-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Article <ref href="#d28e5198">13CA</ref></p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black" fo:border-top-style="solid" fo:border-top-width="0.5pt" fo:border-top-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Notify the monitor of the extension.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Article <ref href="#d28e5277">13CB</ref></p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Notify the monitor of the extension and of the revised end date.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">3</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Article <ref href="#d28e5462">13CD</ref><ref href="#d28e5534">(4)</ref></p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Notify the monitor of the extension and provide the monitor with the court order under Article <ref href="#d28e5462">13CD</ref><ref href="#d28e5534">(4)</ref>.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">4</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Article <ref href="#d28e5462">13CD</ref><ref href="#d28e5608">(7)(a)</ref></p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Notify the monitor of the extension.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">5</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Article <ref href="#d28e5462">13CD</ref><ref href="#d28e5632">(7)(b)(ii)</ref></p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Notify the monitor that the moratorium has come to an end and of the date that it ended.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">6</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Article <ref href="#d28e5647">13CE</ref><ref href="#d28e5678">(2)(a)</ref></p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Notify the monitor of the extension.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">7</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Article <ref href="#d28e5647">13CE</ref><ref href="#d28e5684">(2)(b)</ref></p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Notify the monitor that the moratorium has come to an end and of the date that it ended.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">8</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Article <ref href="#d28e5735">13CF</ref></p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Notify the monitor of the extension and provide the monitor with any court order under Article <ref href="#d28e5735">13CF</ref>.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">9</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Article <ref href="#d28e5772">13CG</ref></p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Notify the monitor that the moratorium has come to an end.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">10</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Article <ref href="#d28e8013">13F</ref></p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Notify the monitor that the moratorium has come to an end and provide the monitor with the court order under Article <ref href="#d28e8013">13F</ref>.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">11</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Article <ref href="#d28e8171">13FB</ref></p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Notify the monitor that the moratorium has come to an end and provide the monitor with the court order under Article <ref href="#d28e8171">13FB</ref>.</p></default:td></default:tr></default:tbody></default:table></foreign></tblock></content></paragraph><paragraph eId="d28e5982"><num>(2)</num><content><p>After receiving a notice under paragraph <ref href="#d28e5840">(1)</ref>, other than a notice under entry 4 or 6 of the table, the monitor must notify the relevant persons of when the moratorium ended or, subject to any alteration under or by virtue of any of the provisions mentioned in Article <ref href="#d28e5076">13C</ref><ref href="#d28e5098">(3)</ref> or <ref href="#d28e5140">(4)</ref>, the moratorium will come to an end.</p></content></paragraph><paragraph eId="d28e5999"><num>(3)</num><content><p>After receiving a notice under entry 4 or 6 of the table, the monitor must notify the relevant persons.</p></content></paragraph><paragraph eId="d28e6005"><num>(4)</num><content><p>If a moratorium comes to an end under Article <ref href="#d28e7714">13ED</ref> (termination by monitor), the monitor must notify the company and the relevant persons of when the moratorium ended.</p></content></paragraph><paragraph eId="d28e6014"><num>(5)</num><intro><p>The rules may—</p></intro><level class="para1"><num>(a)</num><content><p>make further provision about the timing of a notice required to be given under this Article;</p></content></level><level class="para1"><num>(b)</num><content><p>require a notice to be accompanied by other documents.</p></content></level></paragraph><paragraph eId="d28e6032"><num>(6)</num><content><p>If the directors fail to comply with paragraph <ref href="#d28e5840">(1)</ref>, any director who did not have a reasonable excuse for the failure commits an offence.</p></content></paragraph><paragraph eId="d28e6041"><num>(7)</num><content><p>If the monitor without reasonable excuse fails to comply with any of paragraphs <ref href="#d28e5982">(2)</ref> to <ref href="#d28e6005">(4)</ref>, the monitor commits an offence.</p></content></paragraph><paragraph><num>(8)</num><intro><p>In this Article “the relevant persons” means—</p></intro><level class="para1" eId="d28e6059"><num>(a)</num><content><p>the registrar,</p></content></level><level class="para1" eId="d28e6065"><num>(b)</num><content><p>every creditor of the company of whose claim the monitor is aware,</p></content></level><level class="para1"><num>(c)</num><content><p>in a case where the company is or has been an employer in respect of an occupational pension scheme that is not a money purchase scheme, the Pensions Regulator, and</p></content></level><level class="para1"><num>(d)</num><content><p>in a case where the company is an employer in respect of such a pension scheme that is an eligible scheme within the meaning given by Article 110 of the Pensions (Northern Ireland) Order 2005, the Board of the Pension Protection Fund.</p></content></level></paragraph></article></hcontainer></chapter><chapter><num>CHAPTER 4</num><heading>Effects of moratorium</heading><hcontainer name="crossheading" ukl:Name="Pblock"><heading>Introductory</heading><article eId="d28e6094"><heading>Overview and construction of references to payment holidays</heading><num>13D</num><paragraph eId="d28e6098"><num>(1)</num><content><p>This Chapter makes provision about the main effects of a moratorium for a company.</p></content></paragraph><paragraph eId="d28e6104"><num>(2)</num><content><p>The provision made by this Chapter includes restrictions on the enforcement or payment of the debts that are defined by paragraph <ref href="#d28e6113">(3)</ref> as pre-moratorium debts for which a company has a payment holiday during a moratorium.</p></content></paragraph><paragraph eId="d28e6113"><num>(3)</num><intro><p>In this Part a reference to pre-moratorium debts for which a company has a payment holiday during a moratorium is to its pre-moratorium debts that have fallen due before the moratorium, or that fall due during the moratorium, except in so far as they consist of amounts payable in respect of—</p></intro><level class="para1"><num>(a)</num><content><p>the monitor’s remuneration or expenses,</p></content></level><level class="para1" eId="d28e6125"><num>(b)</num><content><p>goods or services supplied during the moratorium,</p></content></level><level class="para1"><num>(c)</num><content><p>rent in respect of a period during the moratorium,</p></content></level><level class="para1"><num>(d)</num><content><p>wages or salary arising under a contract of employment,</p></content></level><level class="para1"><num>(e)</num><content><p>redundancy payments, or</p></content></level><level class="para1"><num>(f)</num><content><p>debts or other liabilities arising under a contract or other instrument involving financial services.</p></content></level></paragraph><paragraph><num>(4)</num><content><p>The rules may make provision as to what is, or is not, to count as the supply of goods or services for the purposes of paragraph <ref href="#d28e6125">(3)(b)</ref>.</p></content></paragraph><paragraph eId="d28e6164"><num>(5)</num><content><p>Regulations may amend this Article for the purposes of changing the list in paragraph <ref href="#d28e6113">(3)</ref>.</p></content></paragraph><paragraph><num>(6)</num><content><p>Regulations may not be made under paragraph <ref href="#d28e6164">(5)</ref> unless a draft of the regulations has been laid before, and approved by a resolution of, the Assembly.</p></content></paragraph><paragraph><num>(7)</num><intro><p>In this Article—</p></intro><hcontainer name="definition"><content><p>“contract or other instrument involving financial services” has the meaning given by Schedule ZA2;</p></content></hcontainer><hcontainer name="definition"><content><p>“monitor’s remuneration or expenses” does not include remuneration in respect of anything done by a proposed monitor before the moratorium begins;</p></content></hcontainer><hcontainer name="definition"><intro><p>“redundancy payment” means—</p></intro><level class="para1"><num>(a)</num><content><p>a redundancy payment under Part 11 of the Employment Rights Act 1996 or Part 12 of the Employment Rights (Northern Ireland) Order 1996, or</p></content></level><level class="para1"><num>(b)</num><content><p>a payment made to a person who agrees to the termination of their employment in circumstances where they would have been entitled to a redundancy payment under that Part if dismissed;</p></content></level></hcontainer><hcontainer name="definition"><intro><p>“wages or salary” includes—</p></intro><level class="para1"><num>(a)</num><content><p>a sum payable in respect of a period of holiday (for which purpose the sum is to be treated as relating to the period by reference to which the entitlement to holiday accrued),</p></content></level><level class="para1"><num>(b)</num><content><p>a sum payable in respect of a period of absence through illness or other good cause,</p></content></level><level class="para1"><num>(c)</num><content><p>a sum payable in lieu of holiday, and</p></content></level><level class="para1"><num>(d)</num><content><p>a contribution to an occupational pension scheme.</p></content></level></hcontainer></paragraph></article></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading>Publicity about moratorium</heading><article eId="d28e6237"><heading>Publicity about moratorium</heading><num>13DA</num><paragraph><num>(1)</num><intro><p>During a moratorium, the company must, in any premises—</p></intro><level class="para1"><num>(a)</num><content><p>where business of the company is carried on, and</p></content></level><level class="para1"><num>(b)</num><content><p>to which customers of the company or suppliers of goods or services to the company have access,</p></content></level><wrapUp><p>display, in a prominent position so that it may easily be read by such customers or suppliers, a notice containing the required information.</p></wrapUp></paragraph><paragraph eId="d28e6261"><num>(2)</num><content><p>During a moratorium, any websites of the company must state the required information.</p></content></paragraph><paragraph eId="d28e6267"><num>(3)</num><content><p>During a moratorium, every business document issued by or on behalf of the company must state the required information.</p></content></paragraph><paragraph><num>(4)</num><content><p>For the purposes of paragraphs <ref href="#d28e7253">(1)</ref>, <ref href="#d28e6261">(2)</ref> and <ref href="#d28e6267">(3)</ref>, “the required information” is—</p></content></paragraph><level class="para1"><num>(a)</num><content><p>that a moratorium is in force in relation to the company, and</p></content></level><level class="para1"><num>(b)</num><content><p>the name of the monitor.</p></content></level><paragraph eId="d28e6300"><num>(5)</num><intro><p>If paragraph <ref href="#d28e7253">(1)</ref>, <ref href="#d28e6261">(2)</ref> or <ref href="#d28e6267">(3)</ref> is contravened—</p></intro><level class="para1"><num>(a)</num><content><p>the company commits an offence, and</p></content></level><level class="para1"><num>(b)</num><content><p>any officer of the company who without reasonable excuse authorised or permitted the contravention commits an offence.</p></content></level></paragraph><paragraph><num>(6)</num><intro><p>In this Article “business document” means—</p></intro><level class="para1"><num>(a)</num><content><p>an invoice,</p></content></level><level class="para1"><num>(b)</num><content><p>an order for goods or services,</p></content></level><level class="para1"><num>(c)</num><content><p>a business letter, and</p></content></level><level class="para1"><num>(d)</num><content><p>an order form,</p></content></level><wrapUp><p>whether in hard copy, electronic or any other form.</p></wrapUp></paragraph></article></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading>Effect on creditors etc</heading><article><heading>Restrictions on insolvency proceedings etc</heading><num>13DB</num><paragraph><num>(1)</num><intro><p>During a moratorium—</p></intro><level class="para1" eId="d28e6375"><num>(a)</num><content><p>no petition may be presented for the winding up of the company, except by the directors,</p></content></level><level class="para1" eId="d28e6381"><num>(b)</num><content><p>no resolution may be passed for the voluntary winding up of the company under Article 70(1)(a),</p></content></level><level class="para1"><num>(c)</num><content><p>a resolution for the voluntary winding up of the company under Article 70(1)(b) may be passed only if the resolution is recommended by the directors,</p></content></level><level class="para1" eId="d28e6393"><num>(d)</num><content><p>no order may be made for the winding up of the company, except on a petition by the directors,</p></content></level><level class="para1"><num>(e)</num><content><p>no administration application may be made in respect of the company, except by the directors,</p></content></level><level class="para1"><num>(f)</num><content><p>no notice of intention to appoint an administrator of the company under paragraph 15 or 23(1) of Schedule B1 may be filed with the High Court,</p></content></level><level class="para1"><num>(g)</num><content><p>no administrator of the company may be appointed under paragraph 15 or 23(1) of Schedule B1, and</p></content></level><level class="para1"><num>(h)</num><content><p>no administrative receiver of the company may be appointed.</p></content></level></paragraph><paragraph><num>(2)</num><content><p>Paragraph <ref href="#d28e6375">(1)(a)</ref> does not apply to an excepted petition; and paragraph <ref href="#d28e6393">(1)(d)</ref> does not apply to an order on an excepted petition.</p></content></paragraph><paragraph><num>(3)</num><intro><p>For these purposes, “excepted petition” means a petition under—</p></intro><level class="para1"><num>(a)</num><content><p>Article 104A, 104B or 104C, or</p></content></level><level class="para1"><num>(b)</num><content><p>section 367 of the Financial Services and Markets Act 2000 on the ground mentioned in subsection (3)(b) of that section.</p></content></level></paragraph></article><article eId="d28e6456"><heading>Restrictions on enforcement and legal proceedings</heading><num>13DC</num><paragraph eId="d28e6460"><num>(1)</num><intro><p>During a moratorium—</p></intro><level class="para1"><num>(a)</num><content><p>a landlord or other person to whom rent is payable may not exercise a right of forfeiture by peaceable re-entry in relation to premises let to the company, except with the permission of the High Court,</p></content></level><level class="para1" eId="d28e6472"><num>(b)</num><intro><p>no steps may be taken to enforce any security over the company’s property except—</p></intro><level class="para2" eId="d28e6478"><num>(i)</num><content><p>steps to enforce a collateral security charge (within the meaning of the Financial Markets and Insolvency (Settlement Finality) Regulations 1999 (<ref eId="c00011" href="http://www.legislation.gov.uk/id/uksi/1999/2979">S.I. 1999/2979</ref>)),</p></content></level><level class="para2"><num>(ii)</num><content><p>steps to enforce security created or otherwise arising under a financial collateral arrangement (within the meaning of regulation 3 of the Financial Collateral Arrangements (No. 2) Regulations 2003 (<ref eId="c00012" href="http://www.legislation.gov.uk/id/uksi/2003/3226">S.I. 2003/3226</ref>)), or</p></content></level><level class="para2" eId="d28e6496"><num>(iii)</num><content><p>steps taken with the permission of the High Court,</p></content></level></level><level class="para1" eId="d28e6502"><num>(c)</num><content><p>no steps may be taken to repossess goods in the company’s possession under any hire-purchase agreement, except with the permission of the High Court, and</p></content></level><level class="para1" eId="d28e6508"><num>(d)</num><intro><p>no legal process (including legal proceedings, enforcement and distress) may be instituted, carried out or continued against the company or its property except—</p></intro><level class="para2" eId="d28e6514"><num>(i)</num><content><p>employment tribunal proceedings or any legal process arising out of such proceedings,</p></content></level><level class="para2"><num>(ii)</num><content><p>proceedings, not within paragraph <ref href="#d28e6514">(i)</ref>, involving a claim between an employer and a worker, or</p></content></level><level class="para2"><num>(iii)</num><content><p>a legal process instituted, carried out or continued with the permission of the High Court.</p></content></level></level></paragraph><paragraph><num>(2)</num><content><p>An application may not be made for permission under paragraph (1) for the purposes of enforcing a pre-moratorium debt for which the company has a payment holiday during the moratorium.</p></content></paragraph><paragraph><num>(3)</num><intro><p>An application may not be made for permission under paragraph <ref href="#d28e6472">(1)(b)</ref>, <ref href="#d28e6502">(c)</ref> or <ref href="#d28e6508">(d)</ref> with a view to obtaining—</p></intro><level class="para1"><num>(a)</num><content><p>the crystallisation of a floating charge, or</p></content></level><level class="para1"><num>(b)</num><content><p>the imposition, by virtue of provision in an instrument creating a floating charge, of any restriction on the disposal of any property of the company.</p></content></level></paragraph><paragraph><num>(4)</num><content><p>Permission of the High Court under paragraph <ref href="#d28e6460">(1)</ref> may be given subject to conditions.</p></content></paragraph><paragraph><num>(5)</num><content><p>Paragraph (1)(b)(iii) is subject to Article 13DE(1).</p></content></paragraph><paragraph><num>(6)</num><intro><p>In this Article—</p></intro><hcontainer name="definition"><content><p>“agency worker” has the meaning given by Article 15(2) of the Employment Relations (Northern Ireland) Order 1999;</p></content></hcontainer><hcontainer name="definition"><intro><p>“employer”—</p></intro><level class="para1"><num>(a)</num><content><p>in relation to an agency worker, has the meaning given by Article 15(2) of the Employment Relations (Northern Ireland) Order 1999;</p></content></level><level class="para1"><num>(b)</num><content><p>otherwise, has the meaning given by Article 3(4) of the Employment Rights (Northern Ireland) Order 1996;</p></content></level></hcontainer><hcontainer name="definition"><intro><p>“worker” means an individual who is—</p></intro><level class="para1"><num>(a)</num><content><p>a worker within the meaning of Article 3(3) of the Employment Rights (Northern Ireland) Order 1996, or</p></content></level><level class="para1"><num>(b)</num><content><p>an agency worker.</p></content></level></hcontainer></paragraph></article><article><heading>Floating charges</heading><num>13DD</num><paragraph><num>(1)</num><content><p>This Article applies where there is an uncrystallised floating charge on the property of a company for which a moratorium is in force.</p></content></paragraph><paragraph eId="d28e6633"><num>(2)</num><intro><p>During the moratorium, the holder of the floating charge may not give any notice which would have the effect of—</p></intro><level class="para1" eId="d28e6639"><num>(a)</num><content><p>causing the floating charge to crystallise, or</p></content></level><level class="para1" eId="d28e6645"><num>(b)</num><content><p>causing the imposition, by virtue of provision in the instrument creating the charge, of any restriction on the disposal of property of the company.</p></content></level></paragraph><paragraph eId="d28e6651"><num>(3)</num><content><p>No other event occurring during the moratorium is to have the effect mentioned in paragraph <ref href="#d28e6639">(2)(a)</ref> or <ref href="#d28e6645">(b)</ref>.</p></content></paragraph><paragraph><num>(4)</num><intro><p>Paragraph <ref href="#d28e6687">(5)</ref> applies where—</p></intro><level class="para1"><num>(a)</num><content><p>the holder of a floating charge (“the chargee”) is prevented by paragraph (2) from giving a notice mentioned there during the moratorium, and</p></content></level><level class="para1"><num>(b)</num><content><p>under the terms of the floating charge, the time for giving such a notice ends during the moratorium or before the chargee is given notice of the end of the moratorium under Article <ref href="#d28e5836">13CH</ref>.</p></content></level></paragraph><paragraph eId="d28e6687"><num>(5)</num><intro><p>The chargee may give notice later than is required under the terms of the floating charge, but only if the chargee does so as soon as is practicable after—</p></intro><level class="para1"><num>(a)</num><content><p>the end of the moratorium, or</p></content></level><level class="para1"><num>(b)</num><content><p>if later, the day on which the chargee is notified of the end of the moratorium.</p></content></level></paragraph><paragraph><num>(6)</num><intro><p>Where—</p></intro><level class="para1"><num>(a)</num><content><p>paragraph <ref href="#d28e6651">(3)</ref> prevents an event which occurs during the moratorium from having the effect mentioned there, and</p></content></level><level class="para1"><num>(b)</num><intro><p>the holder of the floating charge gives notice of the event to the company as soon as is practicable after—</p></intro><level class="para2"><num>(i)</num><content><p>the end of the moratorium, or</p></content></level><level class="para2"><num>(ii)</num><content><p>if later, the day on which the chargee is notified of the end of the moratorium,</p></content></level></level><wrapUp><p>the event is to be treated as if it had occurred when the notice was given.</p></wrapUp></paragraph><paragraph><num>(7)</num><intro><p>This Article does not apply in relation to a floating charge that is—</p></intro><level class="para1"><num>(a)</num><content><p>a collateral security (as defined by Article <ref href="#d28e7010">13DI</ref>);</p></content></level><level class="para1"><num>(b)</num><content><p>a market charge (as defined by Article <ref href="#d28e7010">13DI</ref>);</p></content></level><level class="para1"><num>(c)</num><content><p>a security financial collateral arrangement (within the meaning of regulation 3 of the Financial Collateral Arrangements (No. 2) Regulations 2003 (<ref eId="c00013" href="http://www.legislation.gov.uk/id/uksi/2003/3226">S.I. 2003/3226</ref>));</p></content></level><level class="para1"><num>(d)</num><content><p>a system-charge (as defined by Article <ref href="#d28e7010">13DI</ref>).</p></content></level></paragraph></article><article eId="d28e6785"><heading>Enforcement of security granted during moratorium</heading><num>13DE</num><paragraph eId="d28e6789"><num>(1)</num><content><p>Security granted by a company during a moratorium in relation to the company may be enforced only if the monitor consented to the grant of security under Article <ref href="#d28e6937">13DH</ref>.</p></content></paragraph><paragraph><num>(2)</num><content><p>See also Article <ref href="#d28e6456">13DC</ref><ref href="#d28e6472">(1)(b)</ref>, which restricts enforcement during a moratorium.</p></content></paragraph></article></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading>Notification of insolvency proceedings</heading><article><heading>Duty of directors to notify monitor of insolvency proceedings etc</heading><num>13DF</num><paragraph eId="d28e6819"><num>(1)</num><intro><p>The directors of a company must notify the monitor before taking any of the following steps during a moratorium—</p></intro><level class="para1"><num>(a)</num><content><p>presenting a petition for the winding up of the company;</p></content></level><level class="para1"><num>(b)</num><content><p>making an administration application in respect of the company;</p></content></level><level class="para1"><num>(c)</num><content><p>appointing an administrator under paragraph 23(2) of Schedule B1.</p></content></level></paragraph><paragraph eId="d28e6843"><num>(2)</num><content><p>The directors of a company must notify the monitor if, during a moratorium for the company, they recommend that the company passes a resolution for voluntary winding up under Article 70(1)(b).</p></content></paragraph><paragraph><num>(3)</num><content><p>The rules may make provision about the timing of a notice required to be given under paragraph <ref href="#d28e6819">(1)</ref> or <ref href="#d28e6843">(2)</ref>.</p></content></paragraph><paragraph eId="d28e6861"><num>(4)</num><content><p>If the directors fail to comply with paragraph <ref href="#d28e6819">(1)</ref> or <ref href="#d28e6843">(2)</ref>, any director who did not have a reasonable excuse for the failure commits an offence.</p></content></paragraph></article></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading>Restrictions on transactions</heading><article eId="d28e6879"><heading>Restrictions on obtaining credit</heading><num>13DG</num><paragraph eId="d28e6883"><num>(1)</num><content><p>During a moratorium, the company may not obtain credit to the extent of £500 or more from a person unless the person has been informed that a moratorium is in force in relation to the company.</p></content></paragraph><paragraph><num>(2)</num><intro><p>The reference to the company obtaining credit includes—</p></intro><level class="para1"><num>(a)</num><content><p>the company entering into a conditional sale agreement in accordance with which goods are to be sold to the company,</p></content></level><level class="para1"><num>(b)</num><content><p>the company entering into any other form of hire-purchase agreement under which goods are to be bailed to the company, and</p></content></level><level class="para1"><num>(c)</num><content><p>the company being paid in advance (whether in money or otherwise) for the supply of goods or services.</p></content></level></paragraph><paragraph eId="d28e6913"><num>(3)</num><intro><p>If a company contravenes paragraph <ref href="#d28e7253">(1)</ref>—</p></intro><level class="para1" eId="d28e6922"><num>(a)</num><content><p>the company commits an offence, and</p></content></level><level class="para1" eId="d28e6928"><num>(b)</num><content><p>any officer of the company who without reasonable excuse authorised or permitted the obtaining of the credit commits an offence.</p></content></level></paragraph></article><article eId="d28e6937"><heading>Restrictions on grant of security etc</heading><num>13DH</num><paragraph eId="d28e6941"><num>(1)</num><content><p>During a moratorium, the company may grant security over its property only if the monitor consents.</p></content></paragraph><paragraph><num>(2)</num><content><p>The monitor may give consent under paragraph <ref href="#d28e6941">(1)</ref> only if the monitor thinks that the grant of security will support the rescue of the company as a going concern.</p></content></paragraph><paragraph><num>(3)</num><content><p>In deciding whether to give consent under paragraph <ref href="#d28e6941">(1)</ref>, the monitor is entitled to rely on information provided by the company unless the monitor has reason to doubt its accuracy.</p></content></paragraph><paragraph eId="d28e6965"><num>(4)</num><intro><p>If the company grants security over its property during the moratorium otherwise than as authorised by paragraph <ref href="#d28e7253">(1)</ref>—</p></intro><level class="para1" eId="d28e6974"><num>(a)</num><content><p>the company commits an offence, and</p></content></level><level class="para1" eId="d28e6980"><num>(b)</num><content><p>any officer of the company who without reasonable excuse authorised or permitted the grant of the security commits an offence.</p></content></level></paragraph><paragraph><num>(5)</num><content><p>For the consequences of a company granting security over its property in contravention of paragraph <ref href="#d28e7253">(1)</ref>, see also Article <ref href="#d28e6785">13DE</ref>.</p></content></paragraph><paragraph><num>(6)</num><content><p>The monitor may not give consent under this Article if the granting of security is an offence under Article <ref href="#d28e7010">13DI</ref>.</p></content></paragraph></article><article eId="d28e7010"><heading>Prohibition on entering into market contracts etc</heading><num>13DI</num><paragraph eId="d28e7014"><num>(1)</num><intro><p>If a company enters into a transaction to which this Article applies during a moratorium for the company—</p></intro><level class="para1" eId="d28e7020"><num>(a)</num><content><p>the company commits an offence, and</p></content></level><level class="para1" eId="d28e7026"><num>(b)</num><content><p>any officer of the company who without reasonable excuse authorised or permitted the company to enter into the transaction commits an offence.</p></content></level></paragraph><paragraph><num>(2)</num><intro><p>A company enters into a transaction to which this Article applies if it—</p></intro><level class="para1"><num>(a)</num><content><p>enters into a market contract,</p></content></level><level class="para1"><num>(b)</num><content><p>enters into a financial collateral arrangement,</p></content></level><level class="para1"><num>(c)</num><content><p>gives a transfer order,</p></content></level><level class="para1"><num>(d)</num><content><p>grants a market charge or a system-charge, or</p></content></level><level class="para1"><num>(e)</num><content><p>provides any collateral security.</p></content></level></paragraph><paragraph><num>(3)</num><content><p>Where during the moratorium a company enters into a transaction to which this Article applies, nothing done by or in pursuance of the transaction is to be treated as done in contravention of any of Articles <ref href="#d28e6237">13DA</ref>, <ref href="#d28e6456">13DC</ref>, <ref href="#d28e6879">13DG</ref>, <ref href="#d28e6937">13DH</ref> and <ref href="#d28e7142">13DJ</ref> to <ref href="#d28e7526">13DN</ref>.</p></content></paragraph><paragraph><num>(4)</num><intro><p>In this Article—</p></intro><hcontainer name="definition"><content><p>“collateral security” has the same meaning as in the Financial Markets and Insolvency (Settlement Finality) Regulations 1999 (<ref eId="c00014" href="http://www.legislation.gov.uk/id/uksi/1999/2979">S.I. 1999/2979</ref>);</p></content></hcontainer><hcontainer name="definition"><content><p>“financial collateral arrangement” has the same meaning as in the Financial Collateral Arrangements (No. 2) Regulations 2003 (<ref eId="c00015" href="http://www.legislation.gov.uk/id/uksi/2003/3226">S.I. 2003/3226</ref>);</p></content></hcontainer><hcontainer name="definition"><content><p>“market charge” has the same meaning as in Part 5 of the Companies (No. 2) (Northern Ireland) Order 1990;</p></content></hcontainer><hcontainer name="definition"><content><p>“market contract” has the same meaning as in Part 5 of the Companies (No. 2) (Northern Ireland) Order 1990;</p></content></hcontainer><hcontainer name="definition"><content><p>“system-charge” has the meaning given by the Financial Markets and Insolvency Regulations (Northern Ireland) 1996 (<ref eId="c00016" href="http://www.legislation.gov.uk/id/nisr/1996/252">S.R. 1996/252</ref>);</p></content></hcontainer><hcontainer name="definition"><content><p>“transfer order” has the same meaning as in the Financial Markets and Insolvency (Settlement Finality) Regulations 1999 (<ref eId="c00017" href="http://www.legislation.gov.uk/id/uksi/1999/2979">S.I. 1999/2979</ref>).</p></content></hcontainer></paragraph></article></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading>Restrictions on payments and disposal of property</heading><article eId="d28e7142"><heading>Restrictions on payment of certain pre-moratorium debts</heading><num>13DJ</num><paragraph eId="d28e7146"><num>(1)</num><intro><p>During a moratorium, the company may make one or more relevant payments to a person that (in total) exceed the specified maximum amount only if—</p></intro><level class="para1" eId="d28e7152"><num>(a)</num><content><p>the monitor consents,</p></content></level><level class="para1"><num>(b)</num><content><p>the payment is in pursuance of a court order, or</p></content></level><level class="para1" eId="d28e7164"><num>(c)</num><content><p>the payment is required by Article <ref href="#d28e7405">13DM</ref><ref href="#d28e7424">(3)</ref> or <ref href="#d28e7526">13DN</ref><ref href="#d28e7545">(3)</ref>.</p></content></level></paragraph><paragraph eId="d28e7180"><num>(2)</num><intro><p>In paragraph (1)—</p></intro><hcontainer name="definition"><content><p>“relevant payments” means payments in respect of pre-moratorium debts for which the company has a payment holiday during the moratorium (see Article <ref href="#d28e6094">13D</ref>);</p></content></hcontainer><hcontainer name="definition"><intro><p>“specified maximum amount” means an amount equal to the greater of—</p></intro><level class="para1"><num>(a)</num><content><p>£5000, and</p></content></level><level class="para1"><num>(b)</num><content><p>1% of the value of the debts and other liabilities owed by the company to its unsecured creditors when the moratorium began, to the extent that the amount of such debts and liabilities can be ascertained at that time.</p></content></level></hcontainer></paragraph><paragraph><num>(3)</num><content><p>The monitor may give consent under paragraph <ref href="#d28e7152">(1)(a)</ref> only if the monitor thinks that it will support the rescue of the company as a going concern.</p></content></paragraph><paragraph><num>(4)</num><content><p>In deciding whether to give consent under paragraph <ref href="#d28e7152">(1)(a)</ref>, the monitor is entitled to rely on information provided by the company unless the monitor has reason to doubt its accuracy.</p></content></paragraph><paragraph eId="d28e7225"><num>(5)</num><intro><p>If the company makes a payment to which paragraph <ref href="#d28e7253">(1)</ref> applies otherwise than as authorised by that paragraph—</p></intro><level class="para1" eId="d28e7234"><num>(a)</num><content><p>the company commits an offence, and</p></content></level><level class="para1" eId="d28e7240"><num>(b)</num><content><p>any officer of the company who without reasonable excuse authorised or permitted the payment commits an offence.</p></content></level></paragraph></article><article><heading>Restrictions on disposal of property</heading><num>13DK</num><paragraph eId="d28e7253"><num>(1)</num><content><p>During a moratorium, the company may dispose of its property only if authorised by paragraph <ref href="#d28e7265">(2)</ref> or <ref href="#d28e7307">(5)</ref>.</p></content></paragraph><paragraph eId="d28e7265"><num>(2)</num><intro><p>In the case of property that is not subject to a security interest, the company may dispose of the property if—</p></intro><level class="para1"><num>(a)</num><content><p>the disposal is made in the ordinary way of the company’s business,</p></content></level><level class="para1" eId="d28e7277"><num>(b)</num><content><p>the monitor consents, or</p></content></level><level class="para1"><num>(c)</num><content><p>the disposal is in pursuance of a court order.</p></content></level></paragraph><paragraph eId="d28e7289"><num>(3)</num><content><p>The monitor may give consent under paragraph <ref href="#d28e7277">(2)(b)</ref> only if the monitor thinks that it will support the rescue of the company as a going concern.</p></content></paragraph><paragraph><num>(4)</num><content><p>In deciding whether to give consent under paragraph <ref href="#d28e7277">(2)(b)</ref>, the monitor is entitled to rely on information provided by the company unless the monitor has reason to doubt its accuracy.</p></content></paragraph><paragraph eId="d28e7307"><num>(5)</num><intro><p>In the case of property that is subject to a security interest, the company may dispose of the property if the disposal is in accordance with—</p></intro><level class="para1"><num>(a)</num><content><p>Article <ref href="#d28e7405">13DM</ref><ref href="#d28e7409">(1)</ref>, or</p></content></level><level class="para1"><num>(b)</num><content><p>the terms of the security.</p></content></level></paragraph><paragraph eId="d28e7330"><num>(6)</num><intro><p>If the company disposes of its property during the moratorium otherwise than as authorised by this Article—</p></intro><level class="para1" eId="d28e7336"><num>(a)</num><content><p>the company commits an offence, and</p></content></level><level class="para1" eId="d28e7342"><num>(b)</num><content><p>any officer of the company who without reasonable excuse authorised or permitted the disposal commits an offence.</p></content></level></paragraph></article><article><heading>Restrictions on disposal of hire-purchase property</heading><num>13DL</num><paragraph><num>(1)</num><intro><p>During a moratorium, the company may dispose of any goods in the possession of the company under a hire-purchase agreement only if the disposal is in accordance with —</p></intro><level class="para1"><num>(a)</num><content><p>Article <ref href="#d28e7526">13DN</ref><ref href="#d28e7530">(1)</ref>, or</p></content></level><level class="para1"><num>(b)</num><content><p>the terms of the agreement.</p></content></level></paragraph><paragraph eId="d28e7378"><num>(2)</num><intro><p>If the company disposes of goods in the possession of the company under a hire-purchase agreement otherwise than as authorised by paragraph <ref href="#d28e7253">(1)</ref>—</p></intro><level class="para1" eId="d28e7387"><num>(a)</num><content><p>the company commits an offence, and</p></content></level><level class="para1" eId="d28e7393"><num>(b)</num><content><p>any officer of the company who without reasonable excuse authorised or permitted the disposal commits an offence.</p></content></level></paragraph></article></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading>Disposals of property free from charges etc</heading><article eId="d28e7405"><heading>Disposal of charged property free from charge</heading><num>13DM</num><paragraph eId="d28e7409"><num>(1)</num><content><p>During a moratorium, the company may, with the permission of the High Court, dispose of property which is subject to a security interest as if it were not subject to the security interest.</p></content></paragraph><paragraph><num>(2)</num><content><p>The Court may give permission under paragraph <ref href="#d28e6941">(1)</ref> only if the Court thinks that it will support the rescue of the company as a going concern.</p></content></paragraph><paragraph eId="d28e7424"><num>(3)</num><intro><p>Where the Court gives permission under paragraph <ref href="#d28e6941">(1)</ref> other than in relation to a floating charge, the company must apply the following towards discharging the sums secured—</p></intro><level class="para1"><num>(a)</num><content><p>the net proceeds of disposal of the property, and</p></content></level><level class="para1"><num>(b)</num><content><p>any money required to be added to the net proceeds so as to produce the amount determined by the Court as the net amount which would be realised on a sale of the property in the open market by a willing vendor.</p></content></level></paragraph><paragraph><num>(4)</num><content><p>Where the permission relates to two or more security interests, the condition in paragraph <ref href="#d28e7424">(3)</ref> requires the application of money in the order of the priorities of the security interests.</p></content></paragraph><paragraph eId="d28e7454"><num>(5)</num><content><p>Where property subject to a floating charge is disposed of under paragraph <ref href="#d28e7253">(1)</ref>, the holder of the floating charge has the same priority in respect of acquired property as they had in respect of the property disposed of.</p></content></paragraph><paragraph><num>(6)</num><content><p>In paragraph <ref href="#d28e7454">(5)</ref> “acquired property” means property of the company which directly or indirectly represents the property disposed of.</p></content></paragraph><paragraph eId="d28e7472"><num>(7)</num><content><p>Where the Court makes an order giving permission under paragraph <ref href="#d28e7253">(1)</ref>, the directors must, within the period of 14 days beginning with the date of the order, send a copy of it to the registrar.</p></content></paragraph><paragraph eId="d28e7481"><num>(8)</num><content><p>If the directors fail to comply with paragraph <ref href="#d28e7472">(7)</ref>, any director who did not have a reasonable excuse for the failure commits an offence.</p></content></paragraph><paragraph eId="d28e7490"><num>(9)</num><intro><p>If a company fails to comply with paragraph <ref href="#d28e7545">(3)</ref>—</p></intro><level class="para1" eId="d28e7499"><num>(a)</num><content><p>the company commits an offence, and</p></content></level><level class="para1" eId="d28e7505"><num>(b)</num><content><p>any officer of the company who without reasonable excuse authorised or permitted the failure commits an offence.</p></content></level></paragraph><paragraph><num>(10)</num><content><p>Paragraph <ref href="#d28e6941">(1)</ref> does not apply in relation to any property which is subject to a financial collateral arrangement, a market charge, a system-charge or a collateral security (as defined by Article <ref href="#d28e7010">13DI</ref>).</p></content></paragraph></article><article eId="d28e7526"><heading>Disposal of hire-purchase property</heading><num>13DN</num><paragraph eId="d28e7530"><num>(1)</num><content><p>During a moratorium, the company may, with the permission of the High Court, dispose of goods which are in the possession of the company under a hire-purchase agreement as if all of the rights of the owner under the agreement were vested in the company.</p></content></paragraph><paragraph><num>(2)</num><content><p>The Court may give permission under paragraph <ref href="#d28e6941">(1)</ref> only if the Court thinks that it will support the rescue of the company as a going concern.</p></content></paragraph><paragraph eId="d28e7545"><num>(3)</num><intro><p>Where the Court gives permission under paragraph <ref href="#d28e6941">(1)</ref>, the company must apply the following towards discharging the sums payable under the hire-purchase agreement—</p></intro><level class="para1"><num>(a)</num><content><p>the net proceeds of disposal of the goods, and</p></content></level><level class="para1"><num>(b)</num><content><p>any additional money required to be added to the net proceeds so as to produce the amount determined by the Court as the net amount which would be realised on a sale of the goods in the open market by a willing vendor.</p></content></level></paragraph><paragraph eId="d28e7566"><num>(4)</num><intro><p>If a company fails to comply with paragraph <ref href="#d28e7545">(3)</ref>—</p></intro><level class="para1" eId="d28e7575"><num>(a)</num><content><p>the company commits an offence, and</p></content></level><level class="para1" eId="d28e7581"><num>(b)</num><content><p>any officer of the company who without reasonable excuse authorised or permitted the failure commits an offence.</p></content></level></paragraph><paragraph eId="d28e7587"><num>(5)</num><content><p>Where the Court makes an order giving permission under paragraph <ref href="#d28e7253">(1)</ref>, the directors must, within the period of 14 days beginning with the date of the order, send a copy of it to the registrar.</p></content></paragraph><paragraph eId="d28e7596"><num>(6)</num><content><p>If the directors fail to comply with paragraph <ref href="#d28e7587">(5)</ref>, any director who did not have a reasonable excuse for the failure commits an offence.</p></content></paragraph></article></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading>Effect of contravention of certain provisions of Chapter</heading><article><heading>Contravention of certain requirements imposed under this Chapter</heading><num>13DO</num><intro><p>The fact that a company contravenes Article <ref href="#d28e6237">13DA</ref> or any of Articles <ref href="#d28e6879">13DG</ref> to <ref href="#d28e7526">13DN</ref> does not—</p></intro><level class="para1"><num>(a)</num><content><p>make any transaction void or unenforceable, or</p></content></level><level class="para1"><num>(b)</num><content><p>affect the validity of any other thing.</p></content></level></article></hcontainer></chapter><chapter><num>CHAPTER 5</num><heading>The monitor</heading><article><heading>Status of monitor</heading><num>13E</num><content><p>The monitor in relation to a moratorium is an officer of the High Court.</p></content></article><article><heading>Monitoring</heading><num>13EA</num><paragraph eId="d28e7659"><num>(1)</num><content><p>During a moratorium, the monitor must monitor the company’s affairs for the purpose of forming a view as to whether it remains likely that the moratorium will result in the rescue of the company as a going concern.</p></content></paragraph><paragraph><num>(2)</num><content><p>In forming the view mentioned in paragraph <ref href="#d28e7659">(1)</ref>, the monitor is entitled to rely on information provided by the company, unless the monitor has reason to doubt its accuracy.</p></content></paragraph></article><article eId="d28e7677"><heading>Provision of information to monitor</heading><num>13EB</num><paragraph><num>(1)</num><content><p>The monitor may require the directors of the company to provide any information required by the monitor for the purpose of carrying out the monitor’s functions.</p></content></paragraph><paragraph><num>(2)</num><content><p>The directors must comply with a requirement to provide information as soon as practicable.</p></content></paragraph><paragraph><num>(3)</num><content><p>For the potential consequences of failing to comply with a requirement to provide information, see Article <ref href="#d28e7714">13ED</ref>.</p></content></paragraph></article><article><heading>Application by monitor for directions</heading><num>13EC</num><content><p>The monitor in relation to a moratorium may apply to the High Court for directions about the carrying out of the monitor’s functions.</p></content></article><article eId="d28e7714"><heading>Termination of moratorium by monitor</heading><num>13ED</num><paragraph eId="d28e7718"><num>(1)</num><intro><p>The monitor must bring a moratorium to an end by filing a notice with the High Court if—</p></intro><level class="para1" eId="d28e7724"><num>(a)</num><content><p>the monitor thinks that the moratorium is no longer likely to result in the rescue of the company as a going concern,</p></content></level><level class="para1"><num>(b)</num><content><p>the monitor thinks that the objective of rescuing the company as a going concern has been achieved,</p></content></level><level class="para1"><num>(c)</num><content><p>the monitor thinks that, by reason of a failure by the directors to comply with a requirement under Article <ref href="#d28e7677">13EB</ref>, the monitor is unable properly to carry out the monitor’s functions, or</p></content></level><level class="para1" eId="d28e7745"><num>(d)</num><intro><p>the monitor thinks that the company is unable to pay any of the following that have fallen due—</p></intro><level class="para2"><num>(i)</num><content><p>moratorium debts;</p></content></level><level class="para2"><num>(ii)</num><content><p>pre-moratorium debts for which the company does not have a payment holiday during the moratorium (see Article <ref href="#d28e6094">13D</ref>).</p></content></level></level></paragraph><paragraph eId="d28e7766"><num>(2)</num><content><p>The rules may provide for debts that are to be disregarded for the purposes of paragraph <ref href="#d28e7745">(1)(d)</ref>.</p></content></paragraph><paragraph><num>(3)</num><content><p>On the filing with the Court of a notice under paragraph (1), the moratorium comes to an end.</p></content></paragraph><paragraph><num>(4)</num><content><p>The rules may make provision about the timing of a notice required to be given under paragraph (1).</p></content></paragraph><paragraph eId="d28e7787"><num>(5)</num><content><p>Regulations may amend this Article for the purposes of changing the circumstances in which the monitor must bring a moratorium to an end under paragraph (1).</p></content></paragraph><paragraph><num>(6)</num><content><p>Regulations may not be made under paragraph <ref href="#d28e7787">(5)</ref> unless a draft of the regulations has been laid before, and approved by a resolution of, the Assembly.</p></content></paragraph><paragraph><num>(7)</num><content><p>See also Article <ref href="#d28e5836">13CH</ref> (obligations to notify change in end of moratorium).</p></content></paragraph></article><article eId="d28e7814"><heading>Replacement of monitor or appointment of additional monitor</heading><num>13EE</num><paragraph eId="d28e7818"><num>(1)</num><content><p>The High Court may make an order authorising the appointment of a qualified person to act as the monitor in relation to a moratorium instead of, or in addition to, a person who already acts as the monitor.</p></content></paragraph><paragraph eId="d28e7824"><num>(2)</num><content><p>The High Court may make an order providing that a person ceases to act as the monitor in relation to a moratorium.</p></content></paragraph><paragraph eId="d28e7830"><num>(3)</num><content><p>An order under paragraph <ref href="#d28e7818">(1)</ref> or <ref href="#d28e7824">(2)</ref> may be made on only an application by the directors or the monitor.</p></content></paragraph><paragraph eId="d28e7842"><num>(4)</num><intro><p>The Court may make an order authorising the appointment of a monitor under paragraph <ref href="#d28e7818">(1)</ref> only if the person has provided the Court with a statement that the person—</p></intro><level class="para1"><num>(a)</num><content><p>is a qualified person, and</p></content></level><level class="para1"><num>(b)</num><content><p>consents to act as the monitor in relation to the moratorium.</p></content></level></paragraph><paragraph><num>(5)</num><intro><p>Where it is proposed that more than one person should act as the monitor in relation to the moratorium, the statement under paragraph <ref href="#d28e7842">(4)</ref> must specify—</p></intro><level class="para1"><num>(a)</num><content><p>which functions (if any) are to be exercised by the persons acting jointly, and</p></content></level><level class="para1"><num>(b)</num><content><p>which functions (if any) are to be exercised by any or all of the persons.</p></content></level></paragraph><paragraph><num>(6)</num><content><p>The rules may make provision about the date on which the statement under paragraph <ref href="#d28e7842">(4)</ref> must be made.</p></content></paragraph><paragraph><num>(7)</num><content><p>Where the Court makes an order under paragraph <ref href="#d28e7818">(1)</ref> or <ref href="#d28e7824">(2)</ref> the person begins to act as the monitor, or ceases to act as the monitor, in relation to the moratorium at the time specified in, or determined in accordance with, the order (“the relevant time”).</p></content></paragraph><paragraph eId="d28e7905"><num>(8)</num><intro><p>As soon as reasonably practicable after the relevant time, the monitor must notify the following of the effect of the order—</p></intro><level class="para1"><num>(a)</num><content><p>the registrar,</p></content></level><level class="para1"><num>(b)</num><content><p>every creditor of the company of whose claim the monitor is aware,</p></content></level><level class="para1"><num>(c)</num><content><p>in a case where the company is or has been an employer in respect of an occupational pension scheme that is not a money purchase scheme, the Pensions Regulator, and</p></content></level><level class="para1"><num>(d)</num><content><p>in a case where the company is an employer in respect of such a pension scheme that is an eligible scheme within the meaning given by Article 110 of the Pensions (Northern Ireland) Order 2005, the Board of the Pension Protection Fund.</p></content></level></paragraph><paragraph eId="d28e7935"><num>(9)</num><content><p>If the monitor without reasonable excuse fails to comply with paragraph <ref href="#d28e7905">(8)</ref>, the monitor commits an offence.</p></content></paragraph></article><article eId="d28e7947"><heading>Application of Part where two or more persons act as monitor</heading><num>13EF</num><paragraph eId="d28e7951"><num>(1)</num><intro><p>Where two or more persons act jointly as the monitor—</p></intro><level class="para1"><num>(a)</num><content><p>a reference in this Order to the monitor is a reference to those persons acting jointly;</p></content></level><level class="para1"><num>(b)</num><intro><p>where an offence of omission is committed by the monitor, each of the persons appointed to act jointly—</p></intro><level class="para2"><num>(i)</num><content><p>commits the offence, and</p></content></level><level class="para2"><num>(ii)</num><content><p>may be proceeded against and punished individually.</p></content></level></level></paragraph><paragraph><num>(2)</num><content><p>Where persons act jointly in respect of only some of the functions of the monitor, paragraph <ref href="#d28e7951">(1)</ref> applies only in relation to those functions.</p></content></paragraph><paragraph><num>(3)</num><content><p>Where two or more persons act concurrently as the monitor a reference in this Order to the monitor is a reference to any of the persons appointed (or any combination of them).</p></content></paragraph></article><article><heading>Presumption of validity</heading><num>13EG</num><content><p>An act of the monitor is valid in spite of a defect in the monitor’s appointment or qualification.</p></content></article></chapter><chapter><num>CHAPTER 6</num><heading>Challenges</heading><article eId="d28e8013"><heading>Challenge to monitor’s actions</heading><num>13F</num><paragraph eId="d28e8017"><num>(1)</num><content><p>Any of the persons specified below may apply to the High Court on the ground that an act, omission or decision of the monitor during a moratorium has unfairly harmed the interests of the applicant.</p></content></paragraph><paragraph eId="d28e8023"><num>(2)</num><intro><p>The persons who may apply are—</p></intro><level class="para1"><num>(a)</num><content><p>a creditor, director or member of the company, or</p></content></level><level class="para1"><num>(b)</num><content><p>any other person affected by the moratorium.</p></content></level></paragraph><paragraph><num>(3)</num><content><p>An application under paragraph <ref href="#d28e8017">(1)</ref> may be made during the moratorium or after it has ended.</p></content></paragraph><paragraph eId="d28e8050"><num>(4)</num><intro><p>On an application under paragraph <ref href="#d28e8017">(1)</ref> the Court may—</p></intro><level class="para1"><num>(a)</num><content><p>confirm, reverse or modify any act or decision of the monitor,</p></content></level><level class="para1"><num>(b)</num><content><p>give the monitor directions, or</p></content></level><level class="para1"><num>(c)</num><content><p>make such other order as it thinks fit (but may not, under this sub-paragraph, order the monitor to pay any compensation).</p></content></level></paragraph><paragraph><num>(5)</num><content><p>Where an application under paragraph <ref href="#d28e8017">(1)</ref> relates to a failure by the monitor to bring the moratorium to an end under Article <ref href="#d28e7714">13ED</ref>(1), an order under paragraph <ref href="#d28e8050">(4)</ref> may, in particular, bring the moratorium to an end and make such consequential provision as the Court thinks fit.</p></content></paragraph><paragraph eId="d28e8092"><num>(6)</num><content><p>Where an application under paragraph <ref href="#d28e8017">(1)</ref> relates to the monitor bringing a moratorium to an end under Article <ref href="#d28e7714">13ED</ref>(1), an order under paragraph <ref href="#d28e8050">(4)</ref> may, in particular, provide that the moratorium is not to be taken into account for the purposes of paragraph <ref href="#">2(1)(b)</ref> of Schedule ZA1 (company not eligible for moratorium if moratorium in force within previous 12 months).</p></content></paragraph><paragraph><num>(7)</num><content><p>In making an order under paragraph <ref href="#d28e8050">(4)</ref> the Court must have regard to the need to safeguard the interests of persons who have dealt with the company in good faith and for value.</p></content></paragraph><paragraph><num>(8)</num><content><p>See also Article <ref href="#d28e5836">13CH</ref> (obligations to notify change in end of moratorium).</p></content></paragraph></article><article><heading>Challenges to monitor remuneration in insolvency proceedings</heading><num>13FA</num><paragraph eId="d28e8135"><num>(1)</num><content><p>The rules may confer on an administrator or liquidator of a company the right to apply to the High Court on the ground that remuneration charged by the monitor in relation to a prior moratorium for the company was excessive.</p></content></paragraph><paragraph><num>(2)</num><intro><p>Rules under paragraph <ref href="#d28e8135">(1)</ref> may (among other things) make provision as to—</p></intro><level class="para1"><num>(a)</num><content><p>time limits;</p></content></level><level class="para1"><num>(b)</num><content><p>disposals available to the Court;</p></content></level><level class="para1"><num>(c)</num><content><p>the treatment of costs of the application in the administration or winding up.</p></content></level></paragraph></article><article eId="d28e8171"><heading>Challenge to directors’ actions</heading><num>13FB</num><paragraph eId="d28e8175"><num>(1)</num><intro><p>A creditor or member of a company may apply to the High Court for an order under this Article on the ground that—</p></intro><level class="para1"><num>(a)</num><content><p>during a moratorium, the company’s affairs, business and property are being or have been managed by the directors in a manner which has unfairly harmed the interests of its creditors or members generally or of some part of its creditors or members (including at least the applicant), or</p></content></level><level class="para1"><num>(b)</num><content><p>any actual or proposed act or omission of the directors during a moratorium causes or would cause such harm.</p></content></level></paragraph><paragraph><num>(2)</num><content><p>An application under paragraph <ref href="#d28e8175">(1)</ref> may be made during the moratorium or after it has ended.</p></content></paragraph><paragraph eId="d28e8202"><num>(3)</num><content><p>On an application under paragraph <ref href="#d28e8175">(1)</ref> the Court may make such order as it thinks fit.</p></content></paragraph><paragraph><num>(4)</num><intro><p>An order under paragraph <ref href="#d28e8202">(3)</ref> may in particular—</p></intro><level class="para1"><num>(a)</num><content><p>regulate the management by the directors of the company’s affairs, business and property during the remainder of the moratorium,</p></content></level><level class="para1"><num>(b)</num><content><p>require the directors to refrain from doing or continuing an act complained of by the applicant or to do an act which the applicant has complained they have omitted to do,</p></content></level><level class="para1" eId="d28e8232"><num>(c)</num><content><p>require the summoning of a meeting of the company’s creditors for the purpose of considering such matters as the Court may direct, or</p></content></level><level class="para1"><num>(d)</num><content><p>bring the moratorium to an end and make such consequential provision as the Court thinks fit.</p></content></level></paragraph><paragraph><num>(5)</num><content><p>In making an order under paragraph <ref href="#d28e8202">(3)</ref> the Court must have regard to the need to safeguard the interests of persons who have dealt with the company in good faith and for value.</p></content></paragraph><paragraph><num>(6)</num><content><p>See also Article <ref href="#d28e5836">13CH</ref> (obligations to notify change in end of moratorium).</p></content></paragraph></article><article><heading>Challenge brought by Board of the Pension Protection Fund</heading><num>13FC</num><paragraph><num>(1)</num><intro><p>This Article applies where—</p></intro><level class="para1"><num>(a)</num><intro><p>a moratorium—</p></intro><level class="para2"><num>(i)</num><content><p>is in force in relation to a company that is an employer in respect of an eligible scheme, or</p></content></level><level class="para2"><num>(ii)</num><content><p>is or has been in force in relation to a company that has been an employer in respect of an eligible scheme at any time during the moratorium, and</p></content></level></level><level class="para1"><num>(b)</num><content><p>the trustees or managers of the scheme are a creditor of the company.</p></content></level></paragraph><paragraph><num>(2)</num><content><p>The Board of the Pension Protection Fund may make any application under Article <ref href="#d28e8013">13F</ref><ref href="#d28e8017">(1)</ref> or <ref href="#d28e8171">13FB</ref><ref href="#d28e8175">(1)</ref> that could be made by the trustees or managers as a creditor.</p></content></paragraph><paragraph><num>(3)</num><content><p>For the purposes of such an application, any reference in Article <ref href="#d28e8013">13F</ref><ref href="#d28e8017">(1)</ref> or <ref href="#d28e8171">13FB</ref><ref href="#d28e8175">(1)</ref> to the interests of the applicant is to be read as a reference to the interests of the trustees or managers as a creditor.</p></content></paragraph><paragraph><num>(4)</num><content><p>In this Article “eligible scheme” has the meaning given by Article 110 of the Pensions (Northern Ireland) Order 2005.</p></content></paragraph></article></chapter><chapter><num>CHAPTER 7</num><heading>Offences: general</heading><article><heading>Offence of fraud etc during or in anticipation of moratorium</heading><num>13G</num><paragraph eId="d28e8349"><num>(1)</num><intro><p>An officer of a company commits an offence if, during a moratorium for the company or at any time within the period of 12 months ending with the day on which a moratorium for the company comes into force, the officer—</p></intro><level class="para1"><num>(a)</num><content><p>does any of the things mentioned in paragraph <ref href="#d28e8379">(2)</ref>, or</p></content></level><level class="para1"><num>(b)</num><content><p>was privy to the doing by others of any of the things mentioned in paragraph <ref href="#d28e8397">(2)(c)</ref>, <ref href="#d28e8403">(d)</ref> and <ref href="#d28e8409">(e)</ref>.</p></content></level></paragraph><paragraph eId="d28e8379"><num>(2)</num><intro><p>Those things are—</p></intro><level class="para1" eId="d28e8385"><num>(a)</num><content><p>concealing any part of the company’s property to the value of £500 or more, or concealing any debt due to or from the company,</p></content></level><level class="para1"><num>(b)</num><content><p>fraudulently removing any part of the company’s property to the value of £500 or more,</p></content></level><level class="para1" eId="d28e8397"><num>(c)</num><content><p>concealing, destroying, mutilating or falsifying any document affecting or relating to the company’s property or affairs,</p></content></level><level class="para1" eId="d28e8403"><num>(d)</num><content><p>making any false entry in any document affecting or relating to the company’s property or affairs,</p></content></level><level class="para1" eId="d28e8409"><num>(e)</num><content><p>fraudulently parting with, altering or making any omission in any document affecting or relating to the company’s property or affairs, or</p></content></level><level class="para1" eId="d28e8415"><num>(f)</num><content><p>pawning, pledging or disposing of any property of the company which has been obtained on credit and has not been paid for (unless the pawning, pledging or disposal was in the ordinary way of the company’s business).</p></content></level></paragraph><paragraph><num>(3)</num><intro><p>It is a defence—</p></intro><level class="para1"><num>(a)</num><content><p>for a person charged with an offence under paragraph <ref href="#d28e8349">(1)</ref> in respect of any of the things mentioned in paragraph <ref href="#d28e8385">(2)(a)</ref> or <ref href="#d28e8415">(f)</ref> to prove that the person had no intent to defraud, and</p></content></level><level class="para1"><num>(b)</num><content><p>for a person charged with an offence under paragraph <ref href="#d28e8349">(1)</ref> in respect of any of the things mentioned in paragraph <ref href="#d28e8397">(2)(c)</ref> or <ref href="#d28e8403">(d)</ref> to prove that the person had no intent to conceal the state of affairs of the company or to defeat the law.</p></content></level></paragraph><paragraph eId="d28e8457"><num>(4)</num><intro><p>Where a person pawns, pledges or disposes of any property of a company in circumstances which amount to an offence under paragraph <ref href="#d28e8349">(1)</ref>, every person who takes in pawn or pledge, or otherwise receives, the property commits an offence if the person knows it to be pawned, pledged or disposed of in circumstances which—</p></intro><level class="para1"><num>(a)</num><content><p>amount to an offence under paragraph <ref href="#d28e8349">(1)</ref>, or</p></content></level><level class="para1"><num>(b)</num><content><p>would, if a moratorium were obtained for the company within the period of 12 months beginning with the day on which the pawning, pledging or disposal took place, amount to an offence under paragraph <ref href="#d28e8349">(1)</ref>.</p></content></level></paragraph><paragraph><num>(5)</num><content><p>In this Article, “officer” includes a shadow director.</p></content></paragraph></article><article><heading>Offence of false representation etc to obtain a moratorium</heading><num>13GA</num><paragraph eId="d28e8497"><num>(1)</num><intro><p>An officer of a company commits an offence if, for the purpose of obtaining a moratorium for the company or an extension of a moratorium for the company, the officer—</p></intro><level class="para1"><num>(a)</num><content><p>makes any false representation, or</p></content></level><level class="para1"><num>(b)</num><content><p>fraudulently does, or omits to do, anything.</p></content></level></paragraph><paragraph><num>(2)</num><content><p>Paragraph <ref href="#d28e8497">(1)</ref> applies even if no moratorium or extension is obtained.</p></content></paragraph><paragraph><num>(3)</num><content><p>In this Article, “officer” includes a shadow director.</p></content></paragraph></article><article><heading>Prosecution of delinquent officers of company</heading><num>13GB</num><paragraph><num>(1)</num><content><p>This Article applies where a moratorium has been obtained for a company.</p></content></paragraph><paragraph eId="d28e8543"><num>(2)</num><intro><p>If it appears to the monitor that any past or present officer of the company has committed an offence in connection with the moratorium, the monitor must forthwith—</p></intro><level class="para1"><num>(a)</num><content><p>report the matter to the Department, and</p></content></level><level class="para1"><num>(b)</num><content><p>provide the Department with such information and give it such access to and facilities for inspecting and taking copies of documents (being information or documents in the possession or under the control of the monitor and relating to the matter in question) as it requires.</p></content></level></paragraph><paragraph eId="d28e8561"><num>(3)</num><content><p>Where a matter is reported to the Department under paragraph <ref href="#d28e8543">(2)</ref>, the Department may, for the purpose of investigating the matter and such other matters relating to the affairs of the company as appear to the Department to require investigation, exercise any of the powers which are exercisable by inspectors appointed under section 431 or 432 of the Companies Act 1985.</p></content></paragraph><paragraph><num>(4)</num><content><p>For the purpose of such an investigation any obligation imposed on a person by any provision of the Companies Acts to produce documents or give information to, or otherwise to assist, inspectors so appointed is to be regarded as an obligation similarly to assist the Department in its investigation.</p></content></paragraph><paragraph><num>(5)</num><content><p>Where a question is put to a person in exercise of the powers conferred by paragraph <ref href="#d28e8561">(3)</ref>, the person’s answer may be used in evidence against them.</p></content></paragraph><paragraph eId="d28e8585"><num>(6)</num><intro><p>However, in criminal proceedings in which the person is charged with an offence other than a false statement offence—</p></intro><level class="para1"><num>(a)</num><content><p>no evidence relating to the answer may be adduced, and</p></content></level><level class="para1"><num>(b)</num><content><p>no question relating to it may be asked,</p></content></level><wrapUp><p>by or on behalf of the prosecution, unless evidence relating to it is adduced, or a question relating to it is asked, in the proceedings by or on behalf of the person.</p></wrapUp></paragraph><paragraph eId="d28e8605"><num>(7)</num><content><p>In paragraph (6) “false statement offence” means an offence under Article 7 or 10 of the Perjury (Northern Ireland) Order 1979 (<ref eId="c00018" href="http://www.legislation.gov.uk/id/nisi/1979/1714">S.I. 1979/1714 (N.I. 19)</ref>) (false statements made on oath otherwise than in judicial proceedings or made otherwise than on oath).</p></content></paragraph><paragraph eId="d28e8614"><num>(8)</num><content><p>Where the Director of Public Prosecutions for Northern Ireland institutes criminal proceedings following any report under paragraph <ref href="#d28e8543">(2)</ref>, the monitor, and every officer and agent of the company past and present (other than the defendant), must give the Director all assistance in connection with the prosecution which they are reasonably able to give.</p></content></paragraph><paragraph><num>(9)</num><content><p>For this purpose “agent” includes any banker or solicitor of the company and any person employed by the company as auditor, whether that person is or is not an officer of the company.</p></content></paragraph><paragraph><num>(10)</num><content><p>The High Court may, on the application of the Director of Public Prosecutions for Northern Ireland, direct a person who has failed to comply with paragraph <ref href="#d28e8614">(8)</ref> to comply with it.</p></content></paragraph></article></chapter><chapter><num>CHAPTER 8</num><heading>Miscellaneous and general</heading><hcontainer name="crossheading" ukl:Name="Pblock"><heading>Special rules for certain kinds of company etc</heading><article><heading>Regulated companies: modifications to this Part</heading><num>13H</num><paragraph><num>(1)</num><content><p>For the purposes of Articles <ref href="#d28e4625">13B</ref> and <ref href="#d28e4677">13BA</ref> as they apply in relation to a regulated company, Article <ref href="#d28e4790">13BC</ref><ref href="#d28e4794">(1)</ref> has effect as if the documents listed there included a reference to the written consent of the appropriate regulator to the appointment of the proposed monitor.</p></content></paragraph><paragraph><num>(2)</num><content><p>The remaining provisions of this Article apply in relation to a moratorium for a regulated company.</p></content></paragraph><paragraph><num>(3)</num><content><p>Any notice under Article <ref href="#d28e4975">13BE</ref><ref href="#d28e4985">(2)</ref>, <ref href="#d28e5836">13CH</ref><ref href="#d28e5982">(2)</ref> to <ref href="#d28e6005">(4)</ref> or <ref href="#d28e7814">13EE</ref><ref href="#d28e7905">(8)</ref> must also be sent by the monitor to the appropriate regulator.</p></content></paragraph><paragraph eId="d28e8700"><num>(4)</num><content><p>The directors must give the appropriate regulator notice of any meeting of the company’s creditors that is to be held for the purposes of Article <ref href="#d28e5364">13CC</ref><ref href="#d28e5377">(2)</ref> or <ref href="#d28e8171">13FB</ref><ref href="#d28e8232">(4)(c)</ref>.</p></content></paragraph><paragraph eId="d28e8716"><num>(5)</num><content><p>If the directors fail to comply with paragraph <ref href="#d28e8700">(4)</ref>, any director who did not have a reasonable excuse for the failure commits an offence.</p></content></paragraph><paragraph eId="d28e8725"><num>(6)</num><content><p>The appropriate regulator, or a person appointed by the appropriate regulator, may in the way provided for by the rules, participate (but not vote) in any meeting of the company’s creditors that is held for the purposes of this Part.</p></content></paragraph><paragraph><num>(7)</num><content><p>The appropriate regulator is entitled to be heard on any application to the High Court for permission under Article <ref href="#d28e7405">13DM</ref><ref href="#d28e7409">(1)</ref> or <ref href="#d28e7526">13DN</ref><ref href="#d28e7530">(1)</ref> (disposal of charged property, etc.).</p></content></paragraph><paragraph><num>(8)</num><content><p>The High Court may make an order under Article <ref href="#d28e7814">13EE</ref>(1) only if the appropriate regulator has given its written consent to the appointment of the proposed monitor.</p></content></paragraph><paragraph><num>(9)</num><content><p>The persons who may apply to the High Court under Article <ref href="#d28e7814">13EE</ref><ref href="#d28e7830">(3)</ref>, <ref href="#d28e8013">13F</ref><ref href="#d28e8175">(1)</ref> or <ref href="#d28e8171">13FB</ref><ref href="#d28e8175">(1)</ref> include the appropriate regulator.</p></content></paragraph><paragraph><num>(10)</num><content><p>If a person other than a regulator applies to the High Court under Article <ref href="#d28e7814">13EE</ref><ref href="#d28e7830">(3)</ref>, <ref href="#d28e8013">13F</ref><ref href="#d28e8175">(1)</ref> or <ref href="#d28e8171">13FB</ref><ref href="#d28e8175">(1)</ref> the appropriate regulator is entitled to be heard on the application.</p></content></paragraph><paragraph><num>(11)</num><content><p>If either regulator makes an application to the High Court under Article <ref href="#d28e7814">13EE</ref><ref href="#d28e7830">(3)</ref>, <ref href="#d28e8013">13F</ref><ref href="#d28e8175">(1)</ref> or <ref href="#d28e8171">13FB</ref><ref href="#d28e8175">(1)</ref> in relation to a PRA-regulated company, the other regulator is entitled to be heard on the application.</p></content></paragraph><paragraph><num>(12)</num><content><p>This Article does not affect any right that the appropriate regulator has (apart from this Article) as a creditor of a regulated company.</p></content></paragraph><paragraph eId="d28e8826"><num>(13)</num><intro><p>In this Article—</p></intro><hcontainer name="definition"><intro><p>“the appropriate regulator” means—</p></intro><level class="para1"><num>(a)</num><content><p>where the regulated company is a PRA-regulated company, each of the Financial Conduct Authority and the Prudential Regulation Authority, and</p></content></level><level class="para1"><num>(b)</num><content><p>where the regulated company is not a PRA-regulated company, the Financial Conduct Authority;</p></content></level></hcontainer><hcontainer name="definition"><content><p>“PRA-authorised person” has the meaning given by section 2B(5) of the Financial Services and Markets Act 2000;</p></content></hcontainer><hcontainer name="definition"><intro><p>“PRA-regulated company” means a regulated company which—</p></intro><level class="para1"><num>(a)</num><content><p>is, or has been, a PRA-authorised person,</p></content></level><level class="para1"><num>(b)</num><content><p>is, or has been, an appointed representative within the meaning given by section 39 of the Financial Services and Markets Act 2000, whose principal (or one of whose principals) is, or was, a PRA-authorised person, or</p></content></level><level class="para1"><num>(c)</num><content><p>is carrying on, or has carried on, a PRA-regulated activity (within the meaning of section 22A of that Act) in contravention of the general prohibition;</p></content></level></hcontainer><hcontainer name="definition"><content><p>“regulated activity” has the meaning given by section 22 of the Financial Services and Markets Act 2000, taken with Schedule 2 to that Act and any order under that section;</p></content></hcontainer><hcontainer name="definition"><intro><p>“regulated company” means a company which—</p></intro><level class="para1"><num>(a)</num><content><p>is, or has been, an authorised person within the meaning given by section 31 of the Financial Services and Markets Act 2000,</p></content></level><level class="para1"><num>(b)</num><content><p>is, or has been, an appointed representative within the meaning given by section 39 of that Act, or</p></content></level><level class="para1"><num>(c)</num><content><p>is carrying on, or has carried on, a regulated activity in contravention of the general prohibition within the meaning given by section 19 of that Act;</p></content></level></hcontainer><hcontainer name="definition"><content><p>“regulator” means the Financial Conduct Authority or the Prudential Regulation Authority.</p></content></hcontainer></paragraph><paragraph eId="d28e8892"><num>(14)</num><content><p>Regulations may amend this Article for the purposes of changing the definition of “regulated company” in paragraph <ref href="#d28e8826">(13)</ref>.</p></content></paragraph><paragraph><num>(15)</num><content><p>Regulations may not be made under paragraph <ref href="#d28e8892">(14)</ref> unless a draft of the regulations has been laid before, and approved by a resolution of, the Assembly.</p></content></paragraph></article><article><heading>Power to modify this Part etc in relation to certain companies</heading><num>13HA</num><paragraph eId="d28e8917"><num>(1)</num><intro><p>Regulations may—</p></intro><level class="para1"><num>(a)</num><content><p>modify this Part as it applies in relation to a company for which there is a special administration regime, or</p></content></level><level class="para1"><num>(b)</num><content><p>make provision in connection with the interaction between this Part and any other insolvency procedure in relation to such a company.</p></content></level></paragraph><paragraph eId="d28e8935"><num>(2)</num><content><p>The power in paragraph <ref href="#d28e8917">(1)</ref> may, in particular, be used to amend, repeal, revoke or otherwise modify any statutory provision.</p></content></paragraph><paragraph><num>(3)</num><intro><p>In this Article—</p></intro><hcontainer name="definition"><content><p>“ordinary administration” means the insolvency procedure provided for by Schedule B1;</p></content></hcontainer><hcontainer name="definition"><intro><p>“special administration regime” means provision made by any statutory provision for an insolvency procedure that—</p></intro><level class="para1"><num>(a)</num><content><p>is similar or corresponds to ordinary administration, and</p></content></level><level class="para1"><num>(b)</num><content><p>provides for the administrator to have one or more special objectives instead of or in addition to the objectives of ordinary administration.</p></content></level></hcontainer></paragraph><paragraph eId="d28e8968"><num>(4)</num><content><p>Regulations may not be made under paragraph <ref href="#d28e8917">(1)</ref> unless a draft of the regulations has been laid before, and approved by a resolution of, the Assembly.</p></content></paragraph></article><article><heading>Power to make provision in connection with pension schemes</heading><num>13HB</num><paragraph><num>(1)</num><intro><p>A Northern Ireland department may by regulations provide that, in a case where—</p></intro><level class="para1"><num>(a)</num><intro><p>a moratorium—</p></intro><level class="para2"><num>(i)</num><content><p>is in force in relation to a company that is an employer in respect of an eligible scheme, or</p></content></level><level class="para2"><num>(ii)</num><content><p>is or has been in force in relation to a company that has been an employer in respect of an eligible scheme at any time during the moratorium, and</p></content></level></level><level class="para1"><num>(b)</num><content><p>the trustees or managers of the scheme are a creditor of the company,</p></content></level><wrapUp><p>the Board of the Pension Protection Fund may exercise any of the following rights.</p></wrapUp></paragraph><paragraph><num>(2)</num><intro><p>The rights are those which are exercisable by the trustees or managers as a creditor of the company under or by virtue of—</p></intro><level class="para1"><num>(a)</num><content><p>Article <ref href="#d28e5364">13CC</ref>, or</p></content></level><level class="para1"><num>(b)</num><content><p>a court order under Article <ref href="#d28e8171">13FB</ref><ref href="#d28e8232">(4)(c)</ref>.</p></content></level></paragraph><paragraph><num>(3)</num><intro><p>Regulations under paragraph (1) may provide that the Board may exercise any such rights—</p></intro><level class="para1"><num>(a)</num><content><p>to the exclusion of the trustees or managers of the scheme, or</p></content></level><level class="para1"><num>(b)</num><content><p>in addition to the exercise of those rights by the trustees or managers of the scheme.</p></content></level></paragraph><paragraph><num>(4)</num><intro><p>Regulations under paragraph (1)—</p></intro><level class="para1"><num>(a)</num><content><p>may specify conditions that must be met before the Board may exercise any such rights;</p></content></level><level class="para1"><num>(b)</num><content><p>may provide for any such rights to be exercisable by the Board for a specified period;</p></content></level><level class="para1"><num>(c)</num><content><p>may make provision in connection with any such rights ceasing to be so exercisable at the end of such a period.</p></content></level></paragraph><paragraph><num>(5)</num><content><p>Regulations may not be made under paragraph (1) unless a draft of the regulations has been laid before, and approved by a resolution of, the Assembly.</p></content></paragraph><paragraph><num>(6)</num><content><p>In this Article “eligible scheme” has the meaning given by Article 110 of the Pensions (Northern Ireland) Order 2005.</p></content></paragraph></article></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading>Floating charges</heading><article><heading>Void provisions in floating charge documents</heading><num>13HC</num><paragraph eId="d28e9106"><num>(1)</num><intro><p>A provision in an instrument creating a floating charge is void if it provides for the obtaining of a moratorium, or anything done with a view to obtaining a moratorium, to be—</p></intro><level class="para1"><num>(a)</num><content><p>an event causing the floating charge to crystallise,</p></content></level><level class="para1"><num>(b)</num><content><p>an event causing restrictions which would not otherwise apply to be imposed on the disposal of property by the company, or</p></content></level><level class="para1"><num>(c)</num><content><p>a ground for the appointment of a receiver.</p></content></level></paragraph><paragraph><num>(2)</num><content><p>The reference in paragraph <ref href="#d28e9106">(1)</ref> to anything done with a view to obtaining a moratorium includes any preliminary decision or investigation.</p></content></paragraph><paragraph><num>(3)</num><content><p>In paragraph <ref href="#d28e9106">(1)</ref> “receiver” includes a manager and a person who is appointed both receiver and manager.</p></content></paragraph><paragraph><num>(4)</num><intro><p>Paragraph <ref href="#d28e9106">(1)</ref> does not apply to a provision in an instrument creating a floating charge that is—</p></intro><level class="para1"><num>(a)</num><content><p>a collateral security (as defined by Article <ref href="#d28e7010">13DI</ref>);</p></content></level><level class="para1"><num>(b)</num><content><p>a market charge (as defined by Article <ref href="#d28e7010">13DI</ref>);</p></content></level><level class="para1"><num>(c)</num><content><p>a security financial collateral arrangement (within the meaning of regulation 3 of the Financial Collateral Arrangements (No. 2) Regulations 2003 (<ref eId="c00019" href="http://www.legislation.gov.uk/id/uksi/2003/3226">S.I. 2003/3226</ref>));</p></content></level><level class="para1"><num>(d)</num><content><p>a system-charge (as defined by Article <ref href="#d28e7010">13DI</ref>).</p></content></level></paragraph></article></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading>Interpretation of this Part</heading><article eId="d28e9199"><heading>Meaning of “pre-moratorium debt” and “moratorium debt”</heading><num>13HD</num><paragraph><num>(1)</num><intro><p>In this Part “pre-moratorium debt”, in relation to a company for which a moratorium is or has been in force, means—</p></intro><level class="para1"><num>(a)</num><content><p>any debt or other liability to which the company becomes subject before the moratorium comes into force, or</p></content></level><level class="para1" eId="d28e9215"><num>(b)</num><content><p>any debt or other liability to which the company has become or may become subject during the moratorium by reason of any obligation incurred before the moratorium comes into force,</p></content></level><wrapUp><p>but this is subject to paragraph <ref href="#d28e9249">(3)</ref>.</p></wrapUp></paragraph><paragraph><num>(2)</num><intro><p>In this Part “moratorium debt”, in relation to a company for which a moratorium is or has been in force, means—</p></intro><level class="para1"><num>(a)</num><content><p>any debt or other liability to which the company becomes subject during the moratorium, other than by reason of an obligation incurred before the moratorium came into force, or</p></content></level><level class="para1"><num>(b)</num><content><p>any debt or other liability to which the company has become or may become subject after the end of the moratorium by reason of an obligation incurred during the moratorium,</p></content></level><wrapUp><p>but this is subject to paragraph <ref href="#d28e9249">(3)</ref>.</p></wrapUp></paragraph><paragraph eId="d28e9249"><num>(3)</num><intro><p>For the purposes of this Part—</p></intro><level class="para1" eId="d28e9255"><num>(a)</num><intro><p>a liability in tort is a “pre-moratorium debt” if either—</p></intro><level class="para2"><num>(i)</num><content><p>the cause of action has accrued before the moratorium comes into force, or</p></content></level><level class="para2"><num>(ii)</num><content><p>all the elements necessary to establish the cause of action exist before the moratorium comes into force except for actionable damage;</p></content></level></level><level class="para1"><num>(b)</num><intro><p>a liability in tort is a “moratorium debt” if it does not fall within sub-paragraph <ref href="#d28e9255">(a)</ref> and either—</p></intro><level class="para2"><num>(i)</num><content><p>the cause of action has accrued during the moratorium, or</p></content></level><level class="para2"><num>(ii)</num><content><p>all the elements necessary to establish the cause of action exist before the moratorium comes to an end except for actionable damage.</p></content></level></level></paragraph><paragraph><num>(4)</num><content><p>Regulations may amend this Article for the purposes of changing the definition of “pre-moratorium debt” and “moratorium debt” in this Part.</p></content></paragraph><paragraph><num>(5)</num><content><p>Regulations may not be made under paragraph (4) unless a draft of the regulations has been laid before, and approved by a resolution of, the Assembly.</p></content></paragraph></article><article><heading>Interpretation of this Part: general</heading><num>13HE</num><paragraph eId="d28e9313"><num>(1)</num><intro><p>In this Part—</p></intro><hcontainer name="definition"><intro><p>“company” means—</p></intro><level class="para1"><num>(a)</num><content><p>a company registered under the Companies Act 2006 in Northern Ireland, or</p></content></level><level class="para1"><num>(b)</num><content><p>an unregistered company that may be wound up under Part 6 of this Order;</p></content></level></hcontainer><hcontainer name="definition"><content><p>“eligible”, in relation to a company, has the meaning given by Schedule ZA1;</p></content></hcontainer><hcontainer name="definition"><intro><p>“employer”, in relation to a pension scheme—</p></intro><level class="para1"><num>(a)</num><content><p>in Articles 13BE(2)(c), 13CH(8)(c) and 13EE(8)(c), means an employer within the meaning of Article 2(2) of the Pensions (Northern Ireland) Order 2005;</p></content></level><level class="para1"><num>(b)</num><content><p>elsewhere in this Part, has the same meaning that it has for the purposes of Part 3 of the Pensions (Northern Ireland) Order 2005 (see Article 2(2) and (5) of that Order);</p></content></level></hcontainer><hcontainer name="definition"><content><p>“hire-purchase agreement” includes a conditional sale agreement, a chattel leasing agreement and a retention of title agreement;</p></content></hcontainer><hcontainer name="definition"><content><p>“money purchase scheme” has the meaning given by section 176(1) of the Pension Schemes (Northern Ireland) Act 1993;</p></content></hcontainer><hcontainer name="definition"><content><p>“the monitor”, in relation to a moratorium, means the person who has the functions of the monitor in relation to the moratorium (see also Article <ref href="#d28e7947">13EF</ref> for cases where two or more persons act as the monitor);</p></content></hcontainer><hcontainer name="definition"><content><p>“moratorium” means a moratorium under this Part;</p></content></hcontainer><hcontainer name="definition"><content><p>“moratorium debt” has the meaning given by Article <ref href="#d28e9199">13HD</ref>;</p></content></hcontainer><hcontainer name="definition"><content><p>“occupational pension scheme” has the meaning given by section 1 of the Pension Schemes (Northern Ireland) Act 1993;</p></content></hcontainer><hcontainer name="definition"><content><p>“pension scheme” has the meaning given by section 1 of the Pension Schemes (Northern Ireland) Act 1993;</p></content></hcontainer><hcontainer name="definition"><content><p>“pre-moratorium debt” has the meaning given by Article <ref href="#d28e9199">13HD</ref>;</p></content></hcontainer><hcontainer name="definition"><content><p>“qualified person” means a person qualified to act as an insolvency practitioner;</p></content></hcontainer><hcontainer name="definition"><intro><p>“unable to pay its debts”—</p></intro><level class="para1"><num>(a)</num><content><p>in relation to a registered company, has the same meaning as in Part 5 (see Article 103);</p></content></level><level class="para1"><num>(b)</num><content><p>in relation to an unregistered company, has the same meaning as in Part 6 (see Articles 186 to 188).</p></content></level></hcontainer></paragraph><paragraph eId="d28e9409"><num>(2)</num><content><p>Regulations may amend this Article for the purposes of changing the definition of “qualified person” in paragraph (1).</p></content></paragraph><paragraph><num>(3)</num><content><p>Regulations may not be made under paragraph <ref href="#d28e9409">(2)</ref> unless a draft of the regulations has been laid before, and approved by a resolution of, the Assembly.</p></content></paragraph></article></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading>Regulations</heading><article><heading>Regulations</heading><num>13HF</num><content><p>Regulations made in the exercise of any power conferred by this Part may make consequential, supplementary, incidental or transitional provision or savings.</p></content></article></hcontainer></chapter></part></quotedStructure></mod></p></content></subsection><subsection eId="section-4-2"><num>(2)</num><content><p>Schedule 5 inserts into the Insolvency (Northern Ireland) Order 1989 a new Schedule ZA1 (eligible companies).</p></content></subsection><subsection eId="section-4-3"><num>(3)</num><content><p>Schedule 6 inserts into the Insolvency (Northern Ireland) Order 1989 a new Schedule ZA2 (contracts involving financial services).</p></content></subsection></section>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" xmlns:default="http://www.w3.org/1999/xhtml" xmlns:fo="http://www.w3.org/1999/XSL/Format" eId="section-4-1"><num>(1)</num><content><p><mod>In the Insolvency (Northern Ireland) Order 1989 (<ref eId="c00010" href="http://www.legislation.gov.uk/id/nisi/1989/2405">S.I. 1989/2405 (N.I. 19)</ref>), immediately before Part 2 (and after the heading before Parts 2 to 7) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="order" ukl:Context="main" ukl:Format="double"><part><num>PART 1A</num><heading>Moratorium</heading><chapter><num>CHAPTER 1</num><heading>Introductory</heading><article><heading>Overview</heading><num>13A</num><paragraph><num>(1)</num><content><p>This Part contains provision that enables an eligible company, in certain circumstances, to obtain a moratorium, giving it various protections from creditors set out in this Part.</p></content></paragraph><paragraph><num>(2)</num><content><p>In this Chapter Article <ref href="#d28e4611">13AA</ref> introduces Schedule ZA1 (which defines what is meant by an “eligible” company).</p></content></paragraph><paragraph><num>(3)</num><content><p>Chapter 2 sets out how an eligible company may obtain a moratorium.</p></content></paragraph><paragraph><num>(4)</num><content><p>Chapter 3 sets out for how long a moratorium has effect.</p></content></paragraph><paragraph><num>(5)</num><content><p>Chapter 4 sets out the effects of a moratorium on the company and its creditors.</p></content></paragraph><paragraph><num>(6)</num><content><p>Chapter 5 contains provision about the monitor.</p></content></paragraph><paragraph><num>(7)</num><content><p>Chapter 6 contains provision about challenges.</p></content></paragraph><paragraph><num>(8)</num><content><p>Chapter 7 contains provision about certain offences.</p></content></paragraph><paragraph><num>(9)</num><intro><p>Chapter 8 contains miscellaneous and general provision, including—</p></intro><level class="para1"><num>(a)</num><content><p>special provision for certain kinds of company;</p></content></level><level class="para1"><num>(b)</num><content><p>definitions for the purposes of this Part;</p></content></level><level class="para1"><num>(c)</num><content><p>provision about regulations under this Part.</p></content></level></paragraph></article><article eId="d28e4611"><heading>Eligible companies</heading><num>13AA</num><content><p>Schedule ZA1 contains provision for determining whether a company is an eligible company for the purposes of this Part.</p></content></article></chapter><chapter><num>CHAPTER 2</num><heading>Obtaining a moratorium</heading><article eId="d28e4625"><heading>Obtaining a moratorium by filing documents at High Court</heading><num>13B</num><paragraph eId="d28e4629"><num>(1)</num><intro><p>This Article applies to an eligible company that—</p></intro><level class="para1" eId="d28e4635"><num>(a)</num><content><p>is not subject to an outstanding winding-up petition, and</p></content></level><level class="para1"><num>(b)</num><content><p>is not an overseas company.</p></content></level></paragraph><paragraph eId="d28e4647"><num>(2)</num><content><p>The directors of the company may obtain a moratorium for the company by filing the relevant documents with the High Court (for the relevant documents, see Article <ref href="#d28e4790">13BC</ref>).</p></content></paragraph><paragraph eId="d28e4656"><num>(3)</num><intro><p>For the purposes of this Chapter a company is “subject to an outstanding winding-up petition” if—</p></intro><level class="para1"><num>(a)</num><content><p>a petition for the winding up of the company has been presented, and</p></content></level><level class="para1"><num>(b)</num><content><p>the petition has not been withdrawn or determined.</p></content></level></paragraph></article><article eId="d28e4677"><heading>Obtaining a moratorium for company subject to winding-up petition</heading><num>13BA</num><paragraph eId="d28e4681"><num>(1)</num><content><p>This Article applies to an eligible company that is subject to an outstanding winding-up petition.</p></content></paragraph><paragraph><num>(2)</num><content><p>The directors of the company may apply to the High Court for a moratorium for the company.</p></content></paragraph><paragraph><num>(3)</num><content><p>The application must be accompanied by the relevant documents (for the relevant documents, see Article <ref href="#d28e4790">13BC</ref>).</p></content></paragraph><paragraph><num>(4)</num><intro><p>On hearing the application the Court may—</p></intro><level class="para1" eId="d28e4708"><num>(a)</num><content><p>make an order that the company should be subject to a moratorium, or</p></content></level><level class="para1"><num>(b)</num><content><p>make any other order which the Court thinks appropriate.</p></content></level></paragraph><paragraph><num>(5)</num><content><p>The Court may make an order under paragraph <ref href="#d28e4708">(4)(a)</ref> only if it is satisfied that a moratorium for the company would achieve a better result for the company’s creditors as a whole than would be likely if the company were wound up (without first being subject to a moratorium).</p></content></paragraph></article><article eId="d28e4732"><heading>Obtaining a moratorium for other overseas companies</heading><num>13BB</num><paragraph><num>(1)</num><intro><p>This Article applies to an eligible company that—</p></intro><level class="para1"><num>(a)</num><content><p>is not subject to an outstanding winding-up petition, and</p></content></level><level class="para1"><num>(b)</num><content><p>is an overseas company.</p></content></level></paragraph><paragraph><num>(2)</num><content><p>The directors of the company may apply to the High Court for a moratorium for the company.</p></content></paragraph><paragraph><num>(3)</num><content><p>The application must be accompanied by the relevant documents (for the relevant documents, see Article <ref href="#d28e4790">13BC</ref>).</p></content></paragraph><paragraph><num>(4)</num><intro><p>On hearing the application the Court may—</p></intro><level class="para1" eId="d28e4775"><num>(a)</num><content><p>make an order that the company should be subject to a moratorium, or</p></content></level><level class="para1"><num>(b)</num><content><p>make any other order which the Court thinks appropriate.</p></content></level></paragraph></article><article eId="d28e4790"><heading>The relevant documents</heading><num>13BC</num><paragraph eId="d28e4794"><num>(1)</num><intro><p>For the purposes of this Chapter, “the relevant documents” are—</p></intro><level class="para1" eId="d28e4800"><num>(a)</num><content><p>a notice that the directors wish to obtain a moratorium,</p></content></level><level class="para1" eId="d28e4806"><num>(b)</num><intro><p>a statement from a qualified person (“the proposed monitor”) that the person—</p></intro><level class="para2"><num>(i)</num><content><p>is a qualified person, and</p></content></level><level class="para2"><num>(ii)</num><content><p>consents to act as the monitor in relation to the proposed moratorium,</p></content></level></level><level class="para1" eId="d28e4824"><num>(c)</num><content><p>a statement from the proposed monitor that the company is an eligible company,</p></content></level><level class="para1" eId="d28e4830"><num>(d)</num><content><p>a statement from the directors that, in their view, the company is, or is likely to become, unable to pay its debts, and</p></content></level><level class="para1" eId="d28e4836"><num>(e)</num><content><p>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.</p></content></level></paragraph><paragraph eId="d28e4842"><num>(2)</num><intro><p>Where it is proposed that more than one person should act as the monitor in relation to the proposed moratorium—</p></intro><level class="para1"><num>(a)</num><content><p>each of them must make a statement under paragraph <ref href="#d28e4806">(1)(b)</ref>, <ref href="#d28e4824">(c)</ref> and <ref href="#d28e4836">(e)</ref>, and</p></content></level><level class="para1"><num>(b)</num><intro><p>the statement under paragraph <ref href="#d28e4806">(1)(b)</ref> must specify—</p></intro><level class="para2"><num>(i)</num><content><p>which functions (if any) are to be exercised by the persons acting jointly, and</p></content></level><level class="para2"><num>(ii)</num><content><p>which functions (if any) are to be exercised by any or all of the persons.</p></content></level></level></paragraph><paragraph><num>(3)</num><content><p>The rules may make provision about the date on which a statement comprised in the relevant documents must be made.</p></content></paragraph><paragraph eId="d28e4890"><num>(4)</num><content><p>Regulations may amend this Article for the purposes of adding to the list of documents in paragraph <ref href="#d28e4794">(1)</ref>.</p></content></paragraph><paragraph><num>(5)</num><content><p>Regulations may not be made under paragraph <ref href="#d28e4890">(4)</ref> unless a draft of the regulations has been laid before, and approved by a resolution of, the Assembly.</p></content></paragraph></article><article><heading>Beginning of moratorium and appointment of monitor</heading><num>13BD</num><paragraph><num>(1)</num><intro><p>A moratorium for a company comes into force at the time at which—</p></intro><level class="para1"><num>(a)</num><content><p>in the case of a company to which Article <ref href="#d28e4625">13B</ref> applies, the relevant documents are filed with the High Court under paragraph <ref href="#d28e4647">(2)</ref> of that Article;</p></content></level><level class="para1"><num>(b)</num><content><p>in the case of a company to which Article <ref href="#d28e4677">13BA</ref> applies, an order is made under Article <ref href="#d28e4677">13BA</ref><ref href="#d28e4708">(4)(a)</ref>;</p></content></level><level class="para1"><num>(c)</num><content><p>in the case of a company to which Article <ref href="#d28e4732">13BB</ref> applies, an order is made under Article <ref href="#d28e4732">13BB</ref><ref href="#d28e4775">(4)(a)</ref>.</p></content></level></paragraph><paragraph><num>(2)</num><content><p>On the coming into force of a moratorium, the person or persons who made the statement mentioned in Article <ref href="#d28e4790">13BC</ref><ref href="#d28e4806">(1)(b)</ref> become the monitor in relation to the moratorium.</p></content></paragraph></article><article eId="d28e4975"><heading>Obligations to notify where moratorium comes into force</heading><num>13BE</num><paragraph eId="d28e4979"><num>(1)</num><content><p>As soon as reasonably practicable after a moratorium for a company comes into force, the directors must notify the monitor of that fact.</p></content></paragraph><paragraph eId="d28e4985"><num>(2)</num><intro><p>As soon as reasonably practicable after receiving a notice under paragraph <ref href="#d28e4979">(1)</ref>, the monitor must notify the following that a moratorium for the company has come into force—</p></intro><level class="para1" eId="d28e4994"><num>(a)</num><content><p>the registrar,</p></content></level><level class="para1"><num>(b)</num><content><p>every creditor of the company of whose claim the monitor is aware,</p></content></level><level class="para1"><num>(c)</num><content><p>in a case where the company is or has been an employer in respect of an occupational pension scheme that is not a money purchase scheme, the Pensions Regulator, and</p></content></level><level class="para1"><num>(d)</num><content><p>in a case where the company is an employer in respect of such a pension scheme that is an eligible scheme within the meaning given by Article 110 of the Pensions (Northern Ireland) Order 2005, the Board of the Pension Protection Fund.</p></content></level></paragraph><paragraph><num>(3)</num><intro><p>A notice under paragraph <ref href="#d28e4985">(2)</ref> must specify—</p></intro><level class="para1"><num>(a)</num><content><p>when the moratorium came into force, and</p></content></level><level class="para1"><num>(b)</num><content><p>when, subject to any alteration under or by virtue of any of the provisions mentioned in Article <ref href="#d28e5076">13C</ref><ref href="#d28e5098">(3)</ref> or <ref href="#d28e5140">(4)</ref>, the moratorium will come to an end.</p></content></level></paragraph><paragraph eId="d28e5047"><num>(4)</num><content><p>If the directors fail to comply with paragraph <ref href="#d28e4979">(1)</ref>, any director who did not have a reasonable excuse for the failure commits an offence.</p></content></paragraph><paragraph eId="d28e5056"><num>(5)</num><content><p>If the monitor without reasonable excuse fails to comply with paragraph <ref href="#d28e4985">(2)</ref>, the monitor commits an offence.</p></content></paragraph></article></chapter><chapter><num>CHAPTER 3</num><heading>Length of moratorium</heading><hcontainer name="crossheading" ukl:Name="Pblock"><heading>Initial period</heading><article eId="d28e5076"><heading>End of the moratorium</heading><num>13C</num><paragraph eId="d28e5080"><num>(1)</num><content><p>A moratorium ends at the end of the initial period unless it is extended, or comes to an end sooner, under or by virtue of a provision mentioned in paragraph <ref href="#d28e5098">(3)</ref> or <ref href="#d28e5140">(4)</ref>.</p></content></paragraph><paragraph><num>(2)</num><content><p>In this Chapter “the initial period”, in relation to a moratorium, means the period of 20 business days beginning with the business day after the day on which the moratorium comes into force.</p></content></paragraph><paragraph eId="d28e5098"><num>(3)</num><content><p>For provision under or by virtue of which a moratorium is or may be extended, see—</p><blockList class="unordered none" ukl:Name="UnorderedList" ukl:Decoration="none"><item><p>Article <ref href="#d28e5198">13CA</ref> (extension by directors without creditor consent);</p></item><item><p>Article <ref href="#d28e5277">13CB</ref> (extension by directors with creditor consent);</p></item><item><p>Article <ref href="#d28e5462">13CD</ref> (extension by High Court on application of directors);</p></item><item><p>Article <ref href="#d28e5647">13CE</ref> (extension while proposal for CVA pending);</p></item><item><p>Article <ref href="#d28e5735">13CF</ref> (extension by High Court in course of other proceedings).</p></item></blockList></content></paragraph><paragraph eId="d28e5140"><num>(4)</num><content><p>For provision under or by virtue of which the moratorium is or may be terminated, see—</p><blockList class="unordered none" ukl:Name="UnorderedList" ukl:Decoration="none"><item><p>Article <ref href="#d28e5772">13CG</ref> (termination on entry into insolvency procedure etc);</p></item><item><p>Article <ref href="#d28e7714">13ED</ref> (termination by monitor);</p></item><item><p>Article <ref href="#d28e8013">13F</ref> or <ref href="#d28e8171">13FB</ref> (termination by High Court).</p></item></blockList></content></paragraph><paragraph><num>(5)</num><content><p>A moratorium may not be extended under a provision mentioned in paragraph <ref href="#d28e5098">(3)</ref> once it has come to an end.</p></content></paragraph><paragraph><num>(6)</num><content><p>Where the application of two or more of the provisions mentioned in paragraphs <ref href="#d28e5098">(3)</ref> and <ref href="#d28e5140">(4)</ref> would produce a different length of moratorium, the provision that applies last is to prevail (irrespective of whether that results in a shorter or longer moratorium).</p></content></paragraph></article></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading>Extension of moratorium</heading><article eId="d28e5198"><heading>Extension by directors without creditor consent</heading><num>13CA</num><paragraph eId="d28e5202"><num>(1)</num><intro><p>During the initial period, but after the first 15 business days of that period, the directors may extend the moratorium by filing with the High Court—</p></intro><level class="para1" eId="d28e5208"><num>(a)</num><content><p>a notice that the directors wish to extend the moratorium,</p></content></level><level class="para1" eId="d28e5214"><num>(b)</num><intro><p>a statement from the directors that all of the following that have fallen due have been paid or otherwise discharged—</p></intro><level class="para2"><num>(i)</num><content><p>moratorium debts, and</p></content></level><level class="para2"><num>(ii)</num><content><p>pre-moratorium debts for which the company does not have a payment holiday during the moratorium (see Article <ref href="#d28e6094">13D</ref>),</p></content></level></level><level class="para1" eId="d28e5235"><num>(c)</num><content><p>a statement from the directors that, in their view, the company is, or is likely to become, unable to pay its pre-moratorium debts, and</p></content></level><level class="para1" eId="d28e5241"><num>(d)</num><content><p>a statement from the monitor that, in the monitor’s view, it is likely that the moratorium will result in the rescue of the company as a going concern.</p></content></level></paragraph><paragraph><num>(2)</num><content><p>The rules may make provision about the date on which a statement mentioned in paragraph <ref href="#d28e5202">(1)</ref> must be made.</p></content></paragraph><paragraph><num>(3)</num><intro><p>On the filing with the Court of the documents mentioned in paragraph (1), the moratorium is extended so that it ends at the end of the period—</p></intro><level class="para1"><num>(a)</num><content><p>beginning immediately after the initial period ends, and</p></content></level><level class="para1"><num>(b)</num><content><p>ending with the 20th business day after the initial period ends.</p></content></level></paragraph></article><article eId="d28e5277"><heading>Extension by directors with creditor consent</heading><num>13CB</num><paragraph eId="d28e5281"><num>(1)</num><intro><p>At any time after the first 15 business days of the initial period the directors may, if they have obtained creditor consent, extend the moratorium by filing with the High Court—</p></intro><level class="para1" eId="d28e5287"><num>(a)</num><content><p>a notice that the directors wish to extend the moratorium,</p></content></level><level class="para1" eId="d28e5293"><num>(b)</num><intro><p>a statement from the directors that all of the following that have fallen due have been paid or otherwise discharged—</p></intro><level class="para2"><num>(i)</num><content><p>moratorium debts, and</p></content></level><level class="para2"><num>(ii)</num><content><p>pre-moratorium debts for which the company does not have a payment holiday during the moratorium (see Article <ref href="#d28e6094">13D</ref>),</p></content></level></level><level class="para1" eId="d28e5314"><num>(c)</num><content><p>a statement from the directors that, in their view, the company is, or is likely to become, unable to pay its pre-moratorium debts,</p></content></level><level class="para1" eId="d28e5320"><num>(d)</num><content><p>a statement from the monitor that, in the monitor’s view, it is likely that the moratorium will result in the rescue of the company as a going concern, and</p></content></level><level class="para1" eId="d28e5326"><num>(e)</num><content><p>a statement from the directors that creditor consent has been obtained, and of the revised end date for which that consent was obtained.</p></content></level></paragraph><paragraph><num>(2)</num><content><p>The rules may make provision about the date on which a statement mentioned in paragraph <ref href="#d28e5281">(1)</ref> must be made.</p></content></paragraph><paragraph><num>(3)</num><content><p>On the filing with the Court of the documents mentioned in paragraph <ref href="#d28e5281">(1)</ref>, the moratorium is extended so that it ends with the revised end date mentioned in the statement under paragraph <ref href="#d28e5326">(1)(e)</ref>.</p></content></paragraph><paragraph><num>(4)</num><content><p>A moratorium may be extended under this Article more than once.</p></content></paragraph></article><article eId="d28e5364"><heading>Creditor consent for the purposes of Article <ref href="#d28e5277">13CB</ref></heading><num>13CC</num><paragraph eId="d28e5368"><num>(1)</num><content><p>References in Article <ref href="#d28e5277">13CB</ref> to creditor consent are to the consent of pre-moratorium creditors to a revised end date for the moratorium.</p></content></paragraph><paragraph eId="d28e5377"><num>(2)</num><content><p>The decision as to consent is to be made at a meeting of pre-moratorium creditors.</p></content></paragraph><paragraph><num>(3)</num><intro><p>A meeting under paragraph (2)—</p></intro><level class="para1"><num>(a)</num><content><p>is to be held at such time, date and place as the directors think fit, and</p></content></level><level class="para1"><num>(b)</num><content><p>is to be conducted in accordance with the rules.</p></content></level></paragraph><paragraph eId="d28e5401"><num>(4)</num><content><p>The revised end date must be a date before the end of the period of one year beginning with the first day of the initial period.</p></content></paragraph><paragraph eId="d28e5407"><num>(5)</num><intro><p>In this Article “pre-moratorium creditor” means a creditor in respect of a pre-moratorium debt—</p></intro><level class="para1"><num>(a)</num><content><p>for which the company has a payment holiday during the moratorium (see Article <ref href="#d28e6094">13D</ref>), and</p></content></level><level class="para1"><num>(b)</num><content><p>which has not been paid or otherwise discharged.</p></content></level></paragraph><paragraph eId="d28e5428"><num>(6)</num><content><p>In determining for the purposes of paragraph <ref href="#d28e5407">(5)</ref> what counts as a pre-moratorium debt for which the company has a payment holiday during the moratorium, Articles <ref href="#d28e6094">13D</ref><ref href="#d28e6113">(3)</ref> and <ref href="#d28e9199">13HD</ref><ref href="#d28e9215">(1)(b)</ref> apply as if the references to the moratorium were to the moratorium as proposed to be extended.</p></content></paragraph><paragraph><num>(7)</num><content><p>Regulations may amend this Article for the purposes of changing the definition of “pre-moratorium creditor”.</p></content></paragraph><paragraph><num>(8)</num><content><p>Regulations may not be made under paragraph (7) unless a draft of the regulations has been laid before, and approved by a resolution of, the Assembly.</p></content></paragraph></article><article eId="d28e5462"><heading>Extension by High Court on application of directors</heading><num>13CD</num><paragraph eId="d28e5466"><num>(1)</num><content><p>At any time after the first 15 business days of the initial period, the directors may apply to the High Court for an order that the moratorium be extended.</p></content></paragraph><paragraph eId="d28e5472"><num>(2)</num><intro><p>The application must be accompanied by—</p></intro><level class="para1"><num>(a)</num><intro><p>a statement from the directors that all of the following that have fallen due have been paid or otherwise discharged—</p></intro><level class="para2"><num>(i)</num><content><p>moratorium debts, and</p></content></level><level class="para2"><num>(ii)</num><content><p>pre-moratorium debts for which the company does not have a payment holiday during the moratorium (see Article <ref href="#d28e6094">13D</ref>),</p></content></level></level><level class="para1"><num>(b)</num><content><p>a statement from the directors that, in their view, the company is, or is likely to become, unable to pay its pre-moratorium debts,</p></content></level><level class="para1"><num>(c)</num><content><p>a statement from the directors as to whether pre-moratorium creditors (as defined by Article <ref href="#d28e5364">13CC</ref><ref href="#d28e5407">(5)</ref> and <ref href="#d28e5428">(6)</ref>) have been consulted about the application and if not why not, and</p></content></level><level class="para1" eId="d28e5519"><num>(d)</num><content><p>a statement from the monitor that, in the monitor’s view, it is likely that the moratorium will result in the rescue of the company as a going concern.</p></content></level></paragraph><paragraph><num>(3)</num><content><p>The rules may make provision about the date on which a statement mentioned in paragraph <ref href="#d28e5472">(2)</ref> must be made.</p></content></paragraph><paragraph eId="d28e5534"><num>(4)</num><intro><p>On hearing the application the Court may—</p></intro><level class="para1" eId="d28e5540"><num>(a)</num><content><p>make an order that the moratorium be extended to such date as is specified in the order, or</p></content></level><level class="para1"><num>(b)</num><content><p>make any other order which the Court thinks appropriate.</p></content></level></paragraph><paragraph><num>(5)</num><intro><p>In deciding whether to make an order under paragraph <ref href="#d28e5540">(4)(a)</ref> the Court must, in particular, consider the following—</p></intro><level class="para1"><num>(a)</num><content><p>the interests of pre-moratorium creditors, as defined by Article <ref href="#d28e5364">13CC</ref><ref href="#d28e5407">(5)</ref> and <ref href="#d28e5428">(6)</ref>, and</p></content></level><level class="para1"><num>(b)</num><content><p>the likelihood that the extension of the moratorium will result in the rescue of the company as a going concern.</p></content></level></paragraph><paragraph><num>(6)</num><intro><p>Paragraph <ref href="#d28e5602">(7)</ref> applies where—</p></intro><level class="para1"><num>(a)</num><content><p>an application under this Article is made, and</p></content></level><level class="para1" eId="d28e5596"><num>(b)</num><content><p>apart from that paragraph, the moratorium would end at a time before the application has been disposed of.</p></content></level></paragraph><paragraph eId="d28e5602"><num>(7)</num><intro><p>The moratorium—</p></intro><level class="para1" eId="d28e5608"><num>(a)</num><content><p>does not end at the time mentioned in paragraph <ref href="#d28e5596">(6)(b)</ref>, and</p></content></level><level class="para1" eId="d28e5617"><num>(b)</num><intro><p>instead, ends—</p></intro><level class="para2" eId="d28e5623"><num>(i)</num><content><p>in a case in which the Court makes an order under paragraph <ref href="#d28e5540">(4)(a)</ref>, in accordance with the order;</p></content></level><level class="para2" eId="d28e5632"><num>(ii)</num><content><p>otherwise, when the application is withdrawn or disposed of.</p></content></level></level></paragraph><paragraph><num>(8)</num><content><p>A moratorium may be extended under this Article more than once.</p></content></paragraph></article><article eId="d28e5647"><heading>Extension while proposal for CVA pending</heading><num>13CE</num><paragraph><num>(1)</num><intro><p>Paragraph <ref href="#d28e5672">(2)</ref> applies where—</p></intro><level class="para1"><num>(a)</num><content><p>at any time, the directors make a proposal under Part 2 (company voluntary arrangements), and</p></content></level><level class="para1"><num>(b)</num><content><p>apart from that paragraph, the moratorium would end at a time before the proposal is disposed of.</p></content></level></paragraph><paragraph eId="d28e5672"><num>(2)</num><intro><p>The moratorium—</p></intro><level class="para1" eId="d28e5678"><num>(a)</num><content><p>does not end at the time mentioned in paragraph (1)(b), and</p></content></level><level class="para1" eId="d28e5684"><num>(b)</num><content><p>instead, ends when the proposal is disposed of.</p></content></level></paragraph><paragraph><num>(3)</num><intro><p>For the purposes of this Article a proposal under Part 2 is “disposed of” when any of the following takes place—</p></intro><level class="para1"><num>(a)</num><content><p>the company and its creditors both decide under Article 17 not to approve the voluntary arrangement contained in the proposal;</p></content></level><level class="para1"><num>(b)</num><intro><p>the decisions taken by the company and its creditors under Article 17 differ, and—</p></intro><level class="para2"><num>(i)</num><content><p>the period for making an application under Article 17A(3) expires and either no application has been made within that period or any application made within that period has been withdrawn, or</p></content></level><level class="para2"><num>(ii)</num><content><p>an application is made under Article 17A(3) and that application is disposed of, or it is withdrawn after the expiry of the period for making an application under Article 17A(3);</p></content></level></level><level class="para1"><num>(c)</num><content><p>the voluntary arrangement contained in the proposal takes effect under Article 18;</p></content></level><level class="para1"><num>(d)</num><content><p>the proposal is withdrawn.</p></content></level></paragraph></article><article eId="d28e5735"><heading>Extension by High Court in the course of other proceedings</heading><num>13CF</num><paragraph><num>(1)</num><intro><p>Paragraph <ref href="#d28e5760">(2)</ref> applies where—</p></intro><level class="para1"><num>(a)</num><content><p>an application is made under section 896 or 901C(1) of the Companies Act 2006 (arrangements and reconstructions: court order for holding of meeting) in respect of a company, and</p></content></level><level class="para1"><num>(b)</num><content><p>during proceedings before the High Court in connection with the application, a moratorium for the company is in force.</p></content></level></paragraph><paragraph eId="d28e5760"><num>(2)</num><content><p>The High Court may make an order that the moratorium be extended to such date as is specified in the order.</p></content></paragraph></article></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading>Early termination on certain grounds</heading><article eId="d28e5772"><heading>Company enters into insolvency procedure etc</heading><num>13CG</num><paragraph><num>(1)</num><intro><p>A moratorium comes to an end at any time at which the company—</p></intro><level class="para1"><num>(a)</num><content><p>enters into a compromise or arrangement (see paragraph (2)), or</p></content></level><level class="para1"><num>(b)</num><content><p>enters into a relevant insolvency procedure (see paragraph (3)).</p></content></level></paragraph><paragraph><num>(2)</num><content><p>For the purposes of this Article a company enters into a compromise or arrangement if an order under section 899 or 901F of the Companies Act 2006 (court sanction for compromise or arrangement) comes into effect in relation to the company.</p></content></paragraph><paragraph><num>(3)</num><intro><p>For the purposes of this Article a company enters into a relevant insolvency procedure if—</p></intro><level class="para1"><num>(a)</num><content><p>a voluntary arrangement takes effect under Article 18 in relation to the company,</p></content></level><level class="para1"><num>(b)</num><content><p>the company enters administration (within the meaning of Schedule B1 (see paragraph 2(2)(b) of that Schedule)),</p></content></level><level class="para1"><num>(c)</num><content><p>paragraph 45 of Schedule B1 (administration: interim moratorium) begins to apply in relation to the company, or</p></content></level><level class="para1"><num>(d)</num><content><p>the company goes into liquidation (see Article 6).</p></content></level></paragraph></article></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading>Obligations to notify change in end of moratorium</heading><article eId="d28e5836"><heading>Obligations to notify change in end of moratorium</heading><num>13CH</num><paragraph eId="d28e5840"><num>(1)</num><content><p>The table imposes obligations on the directors of a company to notify the monitor where a moratorium for the company is extended or comes to an end.</p><tblock class="table" ukl:Orientation="portrait"><foreign><default:table xmlns="http://www.w3.org/1999/xhtml"><default:col span="1" style="width:7%"/><default:col span="1" style="width:37%"/><default:col span="1" style="width:56%"/><default:thead><default:tr><default:th xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"/><default:th xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Where a moratorium is extended or comes to an end under or by virtue of the following provision</p></default:th><default:th xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">the directors must </p></default:th></default:tr></default:thead><default:tbody><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-top-style="solid" fo:border-top-width="0.5pt" fo:border-top-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black" fo:border-top-style="solid" fo:border-top-width="0.5pt" fo:border-top-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Article <ref href="#d28e5198">13CA</ref></p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black" fo:border-top-style="solid" fo:border-top-width="0.5pt" fo:border-top-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Notify the monitor of the extension.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Article <ref href="#d28e5277">13CB</ref></p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Notify the monitor of the extension and of the revised end date.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">3</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Article <ref href="#d28e5462">13CD</ref><ref href="#d28e5534">(4)</ref></p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Notify the monitor of the extension and provide the monitor with the court order under Article <ref href="#d28e5462">13CD</ref><ref href="#d28e5534">(4)</ref>.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">4</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Article <ref href="#d28e5462">13CD</ref><ref href="#d28e5608">(7)(a)</ref></p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Notify the monitor of the extension.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">5</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Article <ref href="#d28e5462">13CD</ref><ref href="#d28e5632">(7)(b)(ii)</ref></p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Notify the monitor that the moratorium has come to an end and of the date that it ended.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">6</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Article <ref href="#d28e5647">13CE</ref><ref href="#d28e5678">(2)(a)</ref></p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Notify the monitor of the extension.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">7</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Article <ref href="#d28e5647">13CE</ref><ref href="#d28e5684">(2)(b)</ref></p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Notify the monitor that the moratorium has come to an end and of the date that it ended.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">8</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Article <ref href="#d28e5735">13CF</ref></p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Notify the monitor of the extension and provide the monitor with any court order under Article <ref href="#d28e5735">13CF</ref>.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">9</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Article <ref href="#d28e5772">13CG</ref></p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Notify the monitor that the moratorium has come to an end.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">10</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Article <ref href="#d28e8013">13F</ref></p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Notify the monitor that the moratorium has come to an end and provide the monitor with the court order under Article <ref href="#d28e8013">13F</ref>.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">11</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Article <ref href="#d28e8171">13FB</ref></p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Notify the monitor that the moratorium has come to an end and provide the monitor with the court order under Article <ref href="#d28e8171">13FB</ref>.</p></default:td></default:tr></default:tbody></default:table></foreign></tblock></content></paragraph><paragraph eId="d28e5982"><num>(2)</num><content><p>After receiving a notice under paragraph <ref href="#d28e5840">(1)</ref>, other than a notice under entry 4 or 6 of the table, the monitor must notify the relevant persons of when the moratorium ended or, subject to any alteration under or by virtue of any of the provisions mentioned in Article <ref href="#d28e5076">13C</ref><ref href="#d28e5098">(3)</ref> or <ref href="#d28e5140">(4)</ref>, the moratorium will come to an end.</p></content></paragraph><paragraph eId="d28e5999"><num>(3)</num><content><p>After receiving a notice under entry 4 or 6 of the table, the monitor must notify the relevant persons.</p></content></paragraph><paragraph eId="d28e6005"><num>(4)</num><content><p>If a moratorium comes to an end under Article <ref href="#d28e7714">13ED</ref> (termination by monitor), the monitor must notify the company and the relevant persons of when the moratorium ended.</p></content></paragraph><paragraph eId="d28e6014"><num>(5)</num><intro><p>The rules may—</p></intro><level class="para1"><num>(a)</num><content><p>make further provision about the timing of a notice required to be given under this Article;</p></content></level><level class="para1"><num>(b)</num><content><p>require a notice to be accompanied by other documents.</p></content></level></paragraph><paragraph eId="d28e6032"><num>(6)</num><content><p>If the directors fail to comply with paragraph <ref href="#d28e5840">(1)</ref>, any director who did not have a reasonable excuse for the failure commits an offence.</p></content></paragraph><paragraph eId="d28e6041"><num>(7)</num><content><p>If the monitor without reasonable excuse fails to comply with any of paragraphs <ref href="#d28e5982">(2)</ref> to <ref href="#d28e6005">(4)</ref>, the monitor commits an offence.</p></content></paragraph><paragraph><num>(8)</num><intro><p>In this Article “the relevant persons” means—</p></intro><level class="para1" eId="d28e6059"><num>(a)</num><content><p>the registrar,</p></content></level><level class="para1" eId="d28e6065"><num>(b)</num><content><p>every creditor of the company of whose claim the monitor is aware,</p></content></level><level class="para1"><num>(c)</num><content><p>in a case where the company is or has been an employer in respect of an occupational pension scheme that is not a money purchase scheme, the Pensions Regulator, and</p></content></level><level class="para1"><num>(d)</num><content><p>in a case where the company is an employer in respect of such a pension scheme that is an eligible scheme within the meaning given by Article 110 of the Pensions (Northern Ireland) Order 2005, the Board of the Pension Protection Fund.</p></content></level></paragraph></article></hcontainer></chapter><chapter><num>CHAPTER 4</num><heading>Effects of moratorium</heading><hcontainer name="crossheading" ukl:Name="Pblock"><heading>Introductory</heading><article eId="d28e6094"><heading>Overview and construction of references to payment holidays</heading><num>13D</num><paragraph eId="d28e6098"><num>(1)</num><content><p>This Chapter makes provision about the main effects of a moratorium for a company.</p></content></paragraph><paragraph eId="d28e6104"><num>(2)</num><content><p>The provision made by this Chapter includes restrictions on the enforcement or payment of the debts that are defined by paragraph <ref href="#d28e6113">(3)</ref> as pre-moratorium debts for which a company has a payment holiday during a moratorium.</p></content></paragraph><paragraph eId="d28e6113"><num>(3)</num><intro><p>In this Part a reference to pre-moratorium debts for which a company has a payment holiday during a moratorium is to its pre-moratorium debts that have fallen due before the moratorium, or that fall due during the moratorium, except in so far as they consist of amounts payable in respect of—</p></intro><level class="para1"><num>(a)</num><content><p>the monitor’s remuneration or expenses,</p></content></level><level class="para1" eId="d28e6125"><num>(b)</num><content><p>goods or services supplied during the moratorium,</p></content></level><level class="para1"><num>(c)</num><content><p>rent in respect of a period during the moratorium,</p></content></level><level class="para1"><num>(d)</num><content><p>wages or salary arising under a contract of employment,</p></content></level><level class="para1"><num>(e)</num><content><p>redundancy payments, or</p></content></level><level class="para1"><num>(f)</num><content><p>debts or other liabilities arising under a contract or other instrument involving financial services.</p></content></level></paragraph><paragraph><num>(4)</num><content><p>The rules may make provision as to what is, or is not, to count as the supply of goods or services for the purposes of paragraph <ref href="#d28e6125">(3)(b)</ref>.</p></content></paragraph><paragraph eId="d28e6164"><num>(5)</num><content><p>Regulations may amend this Article for the purposes of changing the list in paragraph <ref href="#d28e6113">(3)</ref>.</p></content></paragraph><paragraph><num>(6)</num><content><p>Regulations may not be made under paragraph <ref href="#d28e6164">(5)</ref> unless a draft of the regulations has been laid before, and approved by a resolution of, the Assembly.</p></content></paragraph><paragraph><num>(7)</num><intro><p>In this Article—</p></intro><hcontainer name="definition"><content><p>“contract or other instrument involving financial services” has the meaning given by Schedule ZA2;</p></content></hcontainer><hcontainer name="definition"><content><p>“monitor’s remuneration or expenses” does not include remuneration in respect of anything done by a proposed monitor before the moratorium begins;</p></content></hcontainer><hcontainer name="definition"><intro><p>“redundancy payment” means—</p></intro><level class="para1"><num>(a)</num><content><p>a redundancy payment under Part 11 of the Employment Rights Act 1996 or Part 12 of the Employment Rights (Northern Ireland) Order 1996, or</p></content></level><level class="para1"><num>(b)</num><content><p>a payment made to a person who agrees to the termination of their employment in circumstances where they would have been entitled to a redundancy payment under that Part if dismissed;</p></content></level></hcontainer><hcontainer name="definition"><intro><p>“wages or salary” includes—</p></intro><level class="para1"><num>(a)</num><content><p>a sum payable in respect of a period of holiday (for which purpose the sum is to be treated as relating to the period by reference to which the entitlement to holiday accrued),</p></content></level><level class="para1"><num>(b)</num><content><p>a sum payable in respect of a period of absence through illness or other good cause,</p></content></level><level class="para1"><num>(c)</num><content><p>a sum payable in lieu of holiday, and</p></content></level><level class="para1"><num>(d)</num><content><p>a contribution to an occupational pension scheme.</p></content></level></hcontainer></paragraph></article></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading>Publicity about moratorium</heading><article eId="d28e6237"><heading>Publicity about moratorium</heading><num>13DA</num><paragraph><num>(1)</num><intro><p>During a moratorium, the company must, in any premises—</p></intro><level class="para1"><num>(a)</num><content><p>where business of the company is carried on, and</p></content></level><level class="para1"><num>(b)</num><content><p>to which customers of the company or suppliers of goods or services to the company have access,</p></content></level><wrapUp><p>display, in a prominent position so that it may easily be read by such customers or suppliers, a notice containing the required information.</p></wrapUp></paragraph><paragraph eId="d28e6261"><num>(2)</num><content><p>During a moratorium, any websites of the company must state the required information.</p></content></paragraph><paragraph eId="d28e6267"><num>(3)</num><content><p>During a moratorium, every business document issued by or on behalf of the company must state the required information.</p></content></paragraph><paragraph><num>(4)</num><content><p>For the purposes of paragraphs <ref href="#d28e7253">(1)</ref>, <ref href="#d28e6261">(2)</ref> and <ref href="#d28e6267">(3)</ref>, “the required information” is—</p></content></paragraph><level class="para1"><num>(a)</num><content><p>that a moratorium is in force in relation to the company, and</p></content></level><level class="para1"><num>(b)</num><content><p>the name of the monitor.</p></content></level><paragraph eId="d28e6300"><num>(5)</num><intro><p>If paragraph <ref href="#d28e7253">(1)</ref>, <ref href="#d28e6261">(2)</ref> or <ref href="#d28e6267">(3)</ref> is contravened—</p></intro><level class="para1"><num>(a)</num><content><p>the company commits an offence, and</p></content></level><level class="para1"><num>(b)</num><content><p>any officer of the company who without reasonable excuse authorised or permitted the contravention commits an offence.</p></content></level></paragraph><paragraph><num>(6)</num><intro><p>In this Article “business document” means—</p></intro><level class="para1"><num>(a)</num><content><p>an invoice,</p></content></level><level class="para1"><num>(b)</num><content><p>an order for goods or services,</p></content></level><level class="para1"><num>(c)</num><content><p>a business letter, and</p></content></level><level class="para1"><num>(d)</num><content><p>an order form,</p></content></level><wrapUp><p>whether in hard copy, electronic or any other form.</p></wrapUp></paragraph></article></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading>Effect on creditors etc</heading><article><heading>Restrictions on insolvency proceedings etc</heading><num>13DB</num><paragraph><num>(1)</num><intro><p>During a moratorium—</p></intro><level class="para1" eId="d28e6375"><num>(a)</num><content><p>no petition may be presented for the winding up of the company, except by the directors,</p></content></level><level class="para1" eId="d28e6381"><num>(b)</num><content><p>no resolution may be passed for the voluntary winding up of the company under Article 70(1)(a),</p></content></level><level class="para1"><num>(c)</num><content><p>a resolution for the voluntary winding up of the company under Article 70(1)(b) may be passed only if the resolution is recommended by the directors,</p></content></level><level class="para1" eId="d28e6393"><num>(d)</num><content><p>no order may be made for the winding up of the company, except on a petition by the directors,</p></content></level><level class="para1"><num>(e)</num><content><p>no administration application may be made in respect of the company, except by the directors,</p></content></level><level class="para1"><num>(f)</num><content><p>no notice of intention to appoint an administrator of the company under paragraph 15 or 23(1) of Schedule B1 may be filed with the High Court,</p></content></level><level class="para1"><num>(g)</num><content><p>no administrator of the company may be appointed under paragraph 15 or 23(1) of Schedule B1, and</p></content></level><level class="para1"><num>(h)</num><content><p>no administrative receiver of the company may be appointed.</p></content></level></paragraph><paragraph><num>(2)</num><content><p>Paragraph <ref href="#d28e6375">(1)(a)</ref> does not apply to an excepted petition; and paragraph <ref href="#d28e6393">(1)(d)</ref> does not apply to an order on an excepted petition.</p></content></paragraph><paragraph><num>(3)</num><intro><p>For these purposes, “excepted petition” means a petition under—</p></intro><level class="para1"><num>(a)</num><content><p>Article 104A, 104B or 104C, or</p></content></level><level class="para1"><num>(b)</num><content><p>section 367 of the Financial Services and Markets Act 2000 on the ground mentioned in subsection (3)(b) of that section.</p></content></level></paragraph></article><article eId="d28e6456"><heading>Restrictions on enforcement and legal proceedings</heading><num>13DC</num><paragraph eId="d28e6460"><num>(1)</num><intro><p>During a moratorium—</p></intro><level class="para1"><num>(a)</num><content><p>a landlord or other person to whom rent is payable may not exercise a right of forfeiture by peaceable re-entry in relation to premises let to the company, except with the permission of the High Court,</p></content></level><level class="para1" eId="d28e6472"><num>(b)</num><intro><p>no steps may be taken to enforce any security over the company’s property except—</p></intro><level class="para2" eId="d28e6478"><num>(i)</num><content><p>steps to enforce a collateral security charge (within the meaning of the Financial Markets and Insolvency (Settlement Finality) Regulations 1999 (<ref eId="c00011" href="http://www.legislation.gov.uk/id/uksi/1999/2979">S.I. 1999/2979</ref>)),</p></content></level><level class="para2"><num>(ii)</num><content><p>steps to enforce security created or otherwise arising under a financial collateral arrangement (within the meaning of regulation 3 of the Financial Collateral Arrangements (No. 2) Regulations 2003 (<ref eId="c00012" href="http://www.legislation.gov.uk/id/uksi/2003/3226">S.I. 2003/3226</ref>)), or</p></content></level><level class="para2" eId="d28e6496"><num>(iii)</num><content><p>steps taken with the permission of the High Court,</p></content></level></level><level class="para1" eId="d28e6502"><num>(c)</num><content><p>no steps may be taken to repossess goods in the company’s possession under any hire-purchase agreement, except with the permission of the High Court, and</p></content></level><level class="para1" eId="d28e6508"><num>(d)</num><intro><p>no legal process (including legal proceedings, enforcement and distress) may be instituted, carried out or continued against the company or its property except—</p></intro><level class="para2" eId="d28e6514"><num>(i)</num><content><p>employment tribunal proceedings or any legal process arising out of such proceedings,</p></content></level><level class="para2"><num>(ii)</num><content><p>proceedings, not within paragraph <ref href="#d28e6514">(i)</ref>, involving a claim between an employer and a worker, or</p></content></level><level class="para2"><num>(iii)</num><content><p>a legal process instituted, carried out or continued with the permission of the High Court.</p></content></level></level></paragraph><paragraph><num>(2)</num><content><p>An application may not be made for permission under paragraph (1) for the purposes of enforcing a pre-moratorium debt for which the company has a payment holiday during the moratorium.</p></content></paragraph><paragraph><num>(3)</num><intro><p>An application may not be made for permission under paragraph <ref href="#d28e6472">(1)(b)</ref>, <ref href="#d28e6502">(c)</ref> or <ref href="#d28e6508">(d)</ref> with a view to obtaining—</p></intro><level class="para1"><num>(a)</num><content><p>the crystallisation of a floating charge, or</p></content></level><level class="para1"><num>(b)</num><content><p>the imposition, by virtue of provision in an instrument creating a floating charge, of any restriction on the disposal of any property of the company.</p></content></level></paragraph><paragraph><num>(4)</num><content><p>Permission of the High Court under paragraph <ref href="#d28e6460">(1)</ref> may be given subject to conditions.</p></content></paragraph><paragraph><num>(5)</num><content><p>Paragraph (1)(b)(iii) is subject to Article 13DE(1).</p></content></paragraph><paragraph><num>(6)</num><intro><p>In this Article—</p></intro><hcontainer name="definition"><content><p>“agency worker” has the meaning given by Article 15(2) of the Employment Relations (Northern Ireland) Order 1999;</p></content></hcontainer><hcontainer name="definition"><intro><p>“employer”—</p></intro><level class="para1"><num>(a)</num><content><p>in relation to an agency worker, has the meaning given by Article 15(2) of the Employment Relations (Northern Ireland) Order 1999;</p></content></level><level class="para1"><num>(b)</num><content><p>otherwise, has the meaning given by Article 3(4) of the Employment Rights (Northern Ireland) Order 1996;</p></content></level></hcontainer><hcontainer name="definition"><intro><p>“worker” means an individual who is—</p></intro><level class="para1"><num>(a)</num><content><p>a worker within the meaning of Article 3(3) of the Employment Rights (Northern Ireland) Order 1996, or</p></content></level><level class="para1"><num>(b)</num><content><p>an agency worker.</p></content></level></hcontainer></paragraph></article><article><heading>Floating charges</heading><num>13DD</num><paragraph><num>(1)</num><content><p>This Article applies where there is an uncrystallised floating charge on the property of a company for which a moratorium is in force.</p></content></paragraph><paragraph eId="d28e6633"><num>(2)</num><intro><p>During the moratorium, the holder of the floating charge may not give any notice which would have the effect of—</p></intro><level class="para1" eId="d28e6639"><num>(a)</num><content><p>causing the floating charge to crystallise, or</p></content></level><level class="para1" eId="d28e6645"><num>(b)</num><content><p>causing the imposition, by virtue of provision in the instrument creating the charge, of any restriction on the disposal of property of the company.</p></content></level></paragraph><paragraph eId="d28e6651"><num>(3)</num><content><p>No other event occurring during the moratorium is to have the effect mentioned in paragraph <ref href="#d28e6639">(2)(a)</ref> or <ref href="#d28e6645">(b)</ref>.</p></content></paragraph><paragraph><num>(4)</num><intro><p>Paragraph <ref href="#d28e6687">(5)</ref> applies where—</p></intro><level class="para1"><num>(a)</num><content><p>the holder of a floating charge (“the chargee”) is prevented by paragraph (2) from giving a notice mentioned there during the moratorium, and</p></content></level><level class="para1"><num>(b)</num><content><p>under the terms of the floating charge, the time for giving such a notice ends during the moratorium or before the chargee is given notice of the end of the moratorium under Article <ref href="#d28e5836">13CH</ref>.</p></content></level></paragraph><paragraph eId="d28e6687"><num>(5)</num><intro><p>The chargee may give notice later than is required under the terms of the floating charge, but only if the chargee does so as soon as is practicable after—</p></intro><level class="para1"><num>(a)</num><content><p>the end of the moratorium, or</p></content></level><level class="para1"><num>(b)</num><content><p>if later, the day on which the chargee is notified of the end of the moratorium.</p></content></level></paragraph><paragraph><num>(6)</num><intro><p>Where—</p></intro><level class="para1"><num>(a)</num><content><p>paragraph <ref href="#d28e6651">(3)</ref> prevents an event which occurs during the moratorium from having the effect mentioned there, and</p></content></level><level class="para1"><num>(b)</num><intro><p>the holder of the floating charge gives notice of the event to the company as soon as is practicable after—</p></intro><level class="para2"><num>(i)</num><content><p>the end of the moratorium, or</p></content></level><level class="para2"><num>(ii)</num><content><p>if later, the day on which the chargee is notified of the end of the moratorium,</p></content></level></level><wrapUp><p>the event is to be treated as if it had occurred when the notice was given.</p></wrapUp></paragraph><paragraph><num>(7)</num><intro><p>This Article does not apply in relation to a floating charge that is—</p></intro><level class="para1"><num>(a)</num><content><p>a collateral security (as defined by Article <ref href="#d28e7010">13DI</ref>);</p></content></level><level class="para1"><num>(b)</num><content><p>a market charge (as defined by Article <ref href="#d28e7010">13DI</ref>);</p></content></level><level class="para1"><num>(c)</num><content><p>a security financial collateral arrangement (within the meaning of regulation 3 of the Financial Collateral Arrangements (No. 2) Regulations 2003 (<ref eId="c00013" href="http://www.legislation.gov.uk/id/uksi/2003/3226">S.I. 2003/3226</ref>));</p></content></level><level class="para1"><num>(d)</num><content><p>a system-charge (as defined by Article <ref href="#d28e7010">13DI</ref>).</p></content></level></paragraph></article><article eId="d28e6785"><heading>Enforcement of security granted during moratorium</heading><num>13DE</num><paragraph eId="d28e6789"><num>(1)</num><content><p>Security granted by a company during a moratorium in relation to the company may be enforced only if the monitor consented to the grant of security under Article <ref href="#d28e6937">13DH</ref>.</p></content></paragraph><paragraph><num>(2)</num><content><p>See also Article <ref href="#d28e6456">13DC</ref><ref href="#d28e6472">(1)(b)</ref>, which restricts enforcement during a moratorium.</p></content></paragraph></article></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading>Notification of insolvency proceedings</heading><article><heading>Duty of directors to notify monitor of insolvency proceedings etc</heading><num>13DF</num><paragraph eId="d28e6819"><num>(1)</num><intro><p>The directors of a company must notify the monitor before taking any of the following steps during a moratorium—</p></intro><level class="para1"><num>(a)</num><content><p>presenting a petition for the winding up of the company;</p></content></level><level class="para1"><num>(b)</num><content><p>making an administration application in respect of the company;</p></content></level><level class="para1"><num>(c)</num><content><p>appointing an administrator under paragraph 23(2) of Schedule B1.</p></content></level></paragraph><paragraph eId="d28e6843"><num>(2)</num><content><p>The directors of a company must notify the monitor if, during a moratorium for the company, they recommend that the company passes a resolution for voluntary winding up under Article 70(1)(b).</p></content></paragraph><paragraph><num>(3)</num><content><p>The rules may make provision about the timing of a notice required to be given under paragraph <ref href="#d28e6819">(1)</ref> or <ref href="#d28e6843">(2)</ref>.</p></content></paragraph><paragraph eId="d28e6861"><num>(4)</num><content><p>If the directors fail to comply with paragraph <ref href="#d28e6819">(1)</ref> or <ref href="#d28e6843">(2)</ref>, any director who did not have a reasonable excuse for the failure commits an offence.</p></content></paragraph></article></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading>Restrictions on transactions</heading><article eId="d28e6879"><heading>Restrictions on obtaining credit</heading><num>13DG</num><paragraph eId="d28e6883"><num>(1)</num><content><p>During a moratorium, the company may not obtain credit to the extent of £500 or more from a person unless the person has been informed that a moratorium is in force in relation to the company.</p></content></paragraph><paragraph><num>(2)</num><intro><p>The reference to the company obtaining credit includes—</p></intro><level class="para1"><num>(a)</num><content><p>the company entering into a conditional sale agreement in accordance with which goods are to be sold to the company,</p></content></level><level class="para1"><num>(b)</num><content><p>the company entering into any other form of hire-purchase agreement under which goods are to be bailed to the company, and</p></content></level><level class="para1"><num>(c)</num><content><p>the company being paid in advance (whether in money or otherwise) for the supply of goods or services.</p></content></level></paragraph><paragraph eId="d28e6913"><num>(3)</num><intro><p>If a company contravenes paragraph <ref href="#d28e7253">(1)</ref>—</p></intro><level class="para1" eId="d28e6922"><num>(a)</num><content><p>the company commits an offence, and</p></content></level><level class="para1" eId="d28e6928"><num>(b)</num><content><p>any officer of the company who without reasonable excuse authorised or permitted the obtaining of the credit commits an offence.</p></content></level></paragraph></article><article eId="d28e6937"><heading>Restrictions on grant of security etc</heading><num>13DH</num><paragraph eId="d28e6941"><num>(1)</num><content><p>During a moratorium, the company may grant security over its property only if the monitor consents.</p></content></paragraph><paragraph><num>(2)</num><content><p>The monitor may give consent under paragraph <ref href="#d28e6941">(1)</ref> only if the monitor thinks that the grant of security will support the rescue of the company as a going concern.</p></content></paragraph><paragraph><num>(3)</num><content><p>In deciding whether to give consent under paragraph <ref href="#d28e6941">(1)</ref>, the monitor is entitled to rely on information provided by the company unless the monitor has reason to doubt its accuracy.</p></content></paragraph><paragraph eId="d28e6965"><num>(4)</num><intro><p>If the company grants security over its property during the moratorium otherwise than as authorised by paragraph <ref href="#d28e7253">(1)</ref>—</p></intro><level class="para1" eId="d28e6974"><num>(a)</num><content><p>the company commits an offence, and</p></content></level><level class="para1" eId="d28e6980"><num>(b)</num><content><p>any officer of the company who without reasonable excuse authorised or permitted the grant of the security commits an offence.</p></content></level></paragraph><paragraph><num>(5)</num><content><p>For the consequences of a company granting security over its property in contravention of paragraph <ref href="#d28e7253">(1)</ref>, see also Article <ref href="#d28e6785">13DE</ref>.</p></content></paragraph><paragraph><num>(6)</num><content><p>The monitor may not give consent under this Article if the granting of security is an offence under Article <ref href="#d28e7010">13DI</ref>.</p></content></paragraph></article><article eId="d28e7010"><heading>Prohibition on entering into market contracts etc</heading><num>13DI</num><paragraph eId="d28e7014"><num>(1)</num><intro><p>If a company enters into a transaction to which this Article applies during a moratorium for the company—</p></intro><level class="para1" eId="d28e7020"><num>(a)</num><content><p>the company commits an offence, and</p></content></level><level class="para1" eId="d28e7026"><num>(b)</num><content><p>any officer of the company who without reasonable excuse authorised or permitted the company to enter into the transaction commits an offence.</p></content></level></paragraph><paragraph><num>(2)</num><intro><p>A company enters into a transaction to which this Article applies if it—</p></intro><level class="para1"><num>(a)</num><content><p>enters into a market contract,</p></content></level><level class="para1"><num>(b)</num><content><p>enters into a financial collateral arrangement,</p></content></level><level class="para1"><num>(c)</num><content><p>gives a transfer order,</p></content></level><level class="para1"><num>(d)</num><content><p>grants a market charge or a system-charge, or</p></content></level><level class="para1"><num>(e)</num><content><p>provides any collateral security.</p></content></level></paragraph><paragraph><num>(3)</num><content><p>Where during the moratorium a company enters into a transaction to which this Article applies, nothing done by or in pursuance of the transaction is to be treated as done in contravention of any of Articles <ref href="#d28e6237">13DA</ref>, <ref href="#d28e6456">13DC</ref>, <ref href="#d28e6879">13DG</ref>, <ref href="#d28e6937">13DH</ref> and <ref href="#d28e7142">13DJ</ref> to <ref href="#d28e7526">13DN</ref>.</p></content></paragraph><paragraph><num>(4)</num><intro><p>In this Article—</p></intro><hcontainer name="definition"><content><p>“collateral security” has the same meaning as in the Financial Markets and Insolvency (Settlement Finality) Regulations 1999 (<ref eId="c00014" href="http://www.legislation.gov.uk/id/uksi/1999/2979">S.I. 1999/2979</ref>);</p></content></hcontainer><hcontainer name="definition"><content><p>“financial collateral arrangement” has the same meaning as in the Financial Collateral Arrangements (No. 2) Regulations 2003 (<ref eId="c00015" href="http://www.legislation.gov.uk/id/uksi/2003/3226">S.I. 2003/3226</ref>);</p></content></hcontainer><hcontainer name="definition"><content><p>“market charge” has the same meaning as in Part 5 of the Companies (No. 2) (Northern Ireland) Order 1990;</p></content></hcontainer><hcontainer name="definition"><content><p>“market contract” has the same meaning as in Part 5 of the Companies (No. 2) (Northern Ireland) Order 1990;</p></content></hcontainer><hcontainer name="definition"><content><p>“system-charge” has the meaning given by the Financial Markets and Insolvency Regulations (Northern Ireland) 1996 (<ref eId="c00016" href="http://www.legislation.gov.uk/id/nisr/1996/252">S.R. 1996/252</ref>);</p></content></hcontainer><hcontainer name="definition"><content><p>“transfer order” has the same meaning as in the Financial Markets and Insolvency (Settlement Finality) Regulations 1999 (<ref eId="c00017" href="http://www.legislation.gov.uk/id/uksi/1999/2979">S.I. 1999/2979</ref>).</p></content></hcontainer></paragraph></article></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading>Restrictions on payments and disposal of property</heading><article eId="d28e7142"><heading>Restrictions on payment of certain pre-moratorium debts</heading><num>13DJ</num><paragraph eId="d28e7146"><num>(1)</num><intro><p>During a moratorium, the company may make one or more relevant payments to a person that (in total) exceed the specified maximum amount only if—</p></intro><level class="para1" eId="d28e7152"><num>(a)</num><content><p>the monitor consents,</p></content></level><level class="para1"><num>(b)</num><content><p>the payment is in pursuance of a court order, or</p></content></level><level class="para1" eId="d28e7164"><num>(c)</num><content><p>the payment is required by Article <ref href="#d28e7405">13DM</ref><ref href="#d28e7424">(3)</ref> or <ref href="#d28e7526">13DN</ref><ref href="#d28e7545">(3)</ref>.</p></content></level></paragraph><paragraph eId="d28e7180"><num>(2)</num><intro><p>In paragraph (1)—</p></intro><hcontainer name="definition"><content><p>“relevant payments” means payments in respect of pre-moratorium debts for which the company has a payment holiday during the moratorium (see Article <ref href="#d28e6094">13D</ref>);</p></content></hcontainer><hcontainer name="definition"><intro><p>“specified maximum amount” means an amount equal to the greater of—</p></intro><level class="para1"><num>(a)</num><content><p>£5000, and</p></content></level><level class="para1"><num>(b)</num><content><p>1% of the value of the debts and other liabilities owed by the company to its unsecured creditors when the moratorium began, to the extent that the amount of such debts and liabilities can be ascertained at that time.</p></content></level></hcontainer></paragraph><paragraph><num>(3)</num><content><p>The monitor may give consent under paragraph <ref href="#d28e7152">(1)(a)</ref> only if the monitor thinks that it will support the rescue of the company as a going concern.</p></content></paragraph><paragraph><num>(4)</num><content><p>In deciding whether to give consent under paragraph <ref href="#d28e7152">(1)(a)</ref>, the monitor is entitled to rely on information provided by the company unless the monitor has reason to doubt its accuracy.</p></content></paragraph><paragraph eId="d28e7225"><num>(5)</num><intro><p>If the company makes a payment to which paragraph <ref href="#d28e7253">(1)</ref> applies otherwise than as authorised by that paragraph—</p></intro><level class="para1" eId="d28e7234"><num>(a)</num><content><p>the company commits an offence, and</p></content></level><level class="para1" eId="d28e7240"><num>(b)</num><content><p>any officer of the company who without reasonable excuse authorised or permitted the payment commits an offence.</p></content></level></paragraph></article><article><heading>Restrictions on disposal of property</heading><num>13DK</num><paragraph eId="d28e7253"><num>(1)</num><content><p>During a moratorium, the company may dispose of its property only if authorised by paragraph <ref href="#d28e7265">(2)</ref> or <ref href="#d28e7307">(5)</ref>.</p></content></paragraph><paragraph eId="d28e7265"><num>(2)</num><intro><p>In the case of property that is not subject to a security interest, the company may dispose of the property if—</p></intro><level class="para1"><num>(a)</num><content><p>the disposal is made in the ordinary way of the company’s business,</p></content></level><level class="para1" eId="d28e7277"><num>(b)</num><content><p>the monitor consents, or</p></content></level><level class="para1"><num>(c)</num><content><p>the disposal is in pursuance of a court order.</p></content></level></paragraph><paragraph eId="d28e7289"><num>(3)</num><content><p>The monitor may give consent under paragraph <ref href="#d28e7277">(2)(b)</ref> only if the monitor thinks that it will support the rescue of the company as a going concern.</p></content></paragraph><paragraph><num>(4)</num><content><p>In deciding whether to give consent under paragraph <ref href="#d28e7277">(2)(b)</ref>, the monitor is entitled to rely on information provided by the company unless the monitor has reason to doubt its accuracy.</p></content></paragraph><paragraph eId="d28e7307"><num>(5)</num><intro><p>In the case of property that is subject to a security interest, the company may dispose of the property if the disposal is in accordance with—</p></intro><level class="para1"><num>(a)</num><content><p>Article <ref href="#d28e7405">13DM</ref><ref href="#d28e7409">(1)</ref>, or</p></content></level><level class="para1"><num>(b)</num><content><p>the terms of the security.</p></content></level></paragraph><paragraph eId="d28e7330"><num>(6)</num><intro><p>If the company disposes of its property during the moratorium otherwise than as authorised by this Article—</p></intro><level class="para1" eId="d28e7336"><num>(a)</num><content><p>the company commits an offence, and</p></content></level><level class="para1" eId="d28e7342"><num>(b)</num><content><p>any officer of the company who without reasonable excuse authorised or permitted the disposal commits an offence.</p></content></level></paragraph></article><article><heading>Restrictions on disposal of hire-purchase property</heading><num>13DL</num><paragraph><num>(1)</num><intro><p>During a moratorium, the company may dispose of any goods in the possession of the company under a hire-purchase agreement only if the disposal is in accordance with —</p></intro><level class="para1"><num>(a)</num><content><p>Article <ref href="#d28e7526">13DN</ref><ref href="#d28e7530">(1)</ref>, or</p></content></level><level class="para1"><num>(b)</num><content><p>the terms of the agreement.</p></content></level></paragraph><paragraph eId="d28e7378"><num>(2)</num><intro><p>If the company disposes of goods in the possession of the company under a hire-purchase agreement otherwise than as authorised by paragraph <ref href="#d28e7253">(1)</ref>—</p></intro><level class="para1" eId="d28e7387"><num>(a)</num><content><p>the company commits an offence, and</p></content></level><level class="para1" eId="d28e7393"><num>(b)</num><content><p>any officer of the company who without reasonable excuse authorised or permitted the disposal commits an offence.</p></content></level></paragraph></article></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading>Disposals of property free from charges etc</heading><article eId="d28e7405"><heading>Disposal of charged property free from charge</heading><num>13DM</num><paragraph eId="d28e7409"><num>(1)</num><content><p>During a moratorium, the company may, with the permission of the High Court, dispose of property which is subject to a security interest as if it were not subject to the security interest.</p></content></paragraph><paragraph><num>(2)</num><content><p>The Court may give permission under paragraph <ref href="#d28e6941">(1)</ref> only if the Court thinks that it will support the rescue of the company as a going concern.</p></content></paragraph><paragraph eId="d28e7424"><num>(3)</num><intro><p>Where the Court gives permission under paragraph <ref href="#d28e6941">(1)</ref> other than in relation to a floating charge, the company must apply the following towards discharging the sums secured—</p></intro><level class="para1"><num>(a)</num><content><p>the net proceeds of disposal of the property, and</p></content></level><level class="para1"><num>(b)</num><content><p>any money required to be added to the net proceeds so as to produce the amount determined by the Court as the net amount which would be realised on a sale of the property in the open market by a willing vendor.</p></content></level></paragraph><paragraph><num>(4)</num><content><p>Where the permission relates to two or more security interests, the condition in paragraph <ref href="#d28e7424">(3)</ref> requires the application of money in the order of the priorities of the security interests.</p></content></paragraph><paragraph eId="d28e7454"><num>(5)</num><content><p>Where property subject to a floating charge is disposed of under paragraph <ref href="#d28e7253">(1)</ref>, the holder of the floating charge has the same priority in respect of acquired property as they had in respect of the property disposed of.</p></content></paragraph><paragraph><num>(6)</num><content><p>In paragraph <ref href="#d28e7454">(5)</ref> “acquired property” means property of the company which directly or indirectly represents the property disposed of.</p></content></paragraph><paragraph eId="d28e7472"><num>(7)</num><content><p>Where the Court makes an order giving permission under paragraph <ref href="#d28e7253">(1)</ref>, the directors must, within the period of 14 days beginning with the date of the order, send a copy of it to the registrar.</p></content></paragraph><paragraph eId="d28e7481"><num>(8)</num><content><p>If the directors fail to comply with paragraph <ref href="#d28e7472">(7)</ref>, any director who did not have a reasonable excuse for the failure commits an offence.</p></content></paragraph><paragraph eId="d28e7490"><num>(9)</num><intro><p>If a company fails to comply with paragraph <ref href="#d28e7545">(3)</ref>—</p></intro><level class="para1" eId="d28e7499"><num>(a)</num><content><p>the company commits an offence, and</p></content></level><level class="para1" eId="d28e7505"><num>(b)</num><content><p>any officer of the company who without reasonable excuse authorised or permitted the failure commits an offence.</p></content></level></paragraph><paragraph><num>(10)</num><content><p>Paragraph <ref href="#d28e6941">(1)</ref> does not apply in relation to any property which is subject to a financial collateral arrangement, a market charge, a system-charge or a collateral security (as defined by Article <ref href="#d28e7010">13DI</ref>).</p></content></paragraph></article><article eId="d28e7526"><heading>Disposal of hire-purchase property</heading><num>13DN</num><paragraph eId="d28e7530"><num>(1)</num><content><p>During a moratorium, the company may, with the permission of the High Court, dispose of goods which are in the possession of the company under a hire-purchase agreement as if all of the rights of the owner under the agreement were vested in the company.</p></content></paragraph><paragraph><num>(2)</num><content><p>The Court may give permission under paragraph <ref href="#d28e6941">(1)</ref> only if the Court thinks that it will support the rescue of the company as a going concern.</p></content></paragraph><paragraph eId="d28e7545"><num>(3)</num><intro><p>Where the Court gives permission under paragraph <ref href="#d28e6941">(1)</ref>, the company must apply the following towards discharging the sums payable under the hire-purchase agreement—</p></intro><level class="para1"><num>(a)</num><content><p>the net proceeds of disposal of the goods, and</p></content></level><level class="para1"><num>(b)</num><content><p>any additional money required to be added to the net proceeds so as to produce the amount determined by the Court as the net amount which would be realised on a sale of the goods in the open market by a willing vendor.</p></content></level></paragraph><paragraph eId="d28e7566"><num>(4)</num><intro><p>If a company fails to comply with paragraph <ref href="#d28e7545">(3)</ref>—</p></intro><level class="para1" eId="d28e7575"><num>(a)</num><content><p>the company commits an offence, and</p></content></level><level class="para1" eId="d28e7581"><num>(b)</num><content><p>any officer of the company who without reasonable excuse authorised or permitted the failure commits an offence.</p></content></level></paragraph><paragraph eId="d28e7587"><num>(5)</num><content><p>Where the Court makes an order giving permission under paragraph <ref href="#d28e7253">(1)</ref>, the directors must, within the period of 14 days beginning with the date of the order, send a copy of it to the registrar.</p></content></paragraph><paragraph eId="d28e7596"><num>(6)</num><content><p>If the directors fail to comply with paragraph <ref href="#d28e7587">(5)</ref>, any director who did not have a reasonable excuse for the failure commits an offence.</p></content></paragraph></article></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading>Effect of contravention of certain provisions of Chapter</heading><article><heading>Contravention of certain requirements imposed under this Chapter</heading><num>13DO</num><intro><p>The fact that a company contravenes Article <ref href="#d28e6237">13DA</ref> or any of Articles <ref href="#d28e6879">13DG</ref> to <ref href="#d28e7526">13DN</ref> does not—</p></intro><level class="para1"><num>(a)</num><content><p>make any transaction void or unenforceable, or</p></content></level><level class="para1"><num>(b)</num><content><p>affect the validity of any other thing.</p></content></level></article></hcontainer></chapter><chapter><num>CHAPTER 5</num><heading>The monitor</heading><article><heading>Status of monitor</heading><num>13E</num><content><p>The monitor in relation to a moratorium is an officer of the High Court.</p></content></article><article><heading>Monitoring</heading><num>13EA</num><paragraph eId="d28e7659"><num>(1)</num><content><p>During a moratorium, the monitor must monitor the company’s affairs for the purpose of forming a view as to whether it remains likely that the moratorium will result in the rescue of the company as a going concern.</p></content></paragraph><paragraph><num>(2)</num><content><p>In forming the view mentioned in paragraph <ref href="#d28e7659">(1)</ref>, the monitor is entitled to rely on information provided by the company, unless the monitor has reason to doubt its accuracy.</p></content></paragraph></article><article eId="d28e7677"><heading>Provision of information to monitor</heading><num>13EB</num><paragraph><num>(1)</num><content><p>The monitor may require the directors of the company to provide any information required by the monitor for the purpose of carrying out the monitor’s functions.</p></content></paragraph><paragraph><num>(2)</num><content><p>The directors must comply with a requirement to provide information as soon as practicable.</p></content></paragraph><paragraph><num>(3)</num><content><p>For the potential consequences of failing to comply with a requirement to provide information, see Article <ref href="#d28e7714">13ED</ref>.</p></content></paragraph></article><article><heading>Application by monitor for directions</heading><num>13EC</num><content><p>The monitor in relation to a moratorium may apply to the High Court for directions about the carrying out of the monitor’s functions.</p></content></article><article eId="d28e7714"><heading>Termination of moratorium by monitor</heading><num>13ED</num><paragraph eId="d28e7718"><num>(1)</num><intro><p>The monitor must bring a moratorium to an end by filing a notice with the High Court if—</p></intro><level class="para1" eId="d28e7724"><num>(a)</num><content><p>the monitor thinks that the moratorium is no longer likely to result in the rescue of the company as a going concern,</p></content></level><level class="para1"><num>(b)</num><content><p>the monitor thinks that the objective of rescuing the company as a going concern has been achieved,</p></content></level><level class="para1"><num>(c)</num><content><p>the monitor thinks that, by reason of a failure by the directors to comply with a requirement under Article <ref href="#d28e7677">13EB</ref>, the monitor is unable properly to carry out the monitor’s functions, or</p></content></level><level class="para1" eId="d28e7745"><num>(d)</num><intro><p>the monitor thinks that the company is unable to pay any of the following that have fallen due—</p></intro><level class="para2"><num>(i)</num><content><p>moratorium debts;</p></content></level><level class="para2"><num>(ii)</num><content><p>pre-moratorium debts for which the company does not have a payment holiday during the moratorium (see Article <ref href="#d28e6094">13D</ref>).</p></content></level></level></paragraph><paragraph eId="d28e7766"><num>(2)</num><content><p>The rules may provide for debts that are to be disregarded for the purposes of paragraph <ref href="#d28e7745">(1)(d)</ref>.</p></content></paragraph><paragraph><num>(3)</num><content><p>On the filing with the Court of a notice under paragraph (1), the moratorium comes to an end.</p></content></paragraph><paragraph><num>(4)</num><content><p>The rules may make provision about the timing of a notice required to be given under paragraph (1).</p></content></paragraph><paragraph eId="d28e7787"><num>(5)</num><content><p>Regulations may amend this Article for the purposes of changing the circumstances in which the monitor must bring a moratorium to an end under paragraph (1).</p></content></paragraph><paragraph><num>(6)</num><content><p>Regulations may not be made under paragraph <ref href="#d28e7787">(5)</ref> unless a draft of the regulations has been laid before, and approved by a resolution of, the Assembly.</p></content></paragraph><paragraph><num>(7)</num><content><p>See also Article <ref href="#d28e5836">13CH</ref> (obligations to notify change in end of moratorium).</p></content></paragraph></article><article eId="d28e7814"><heading>Replacement of monitor or appointment of additional monitor</heading><num>13EE</num><paragraph eId="d28e7818"><num>(1)</num><content><p>The High Court may make an order authorising the appointment of a qualified person to act as the monitor in relation to a moratorium instead of, or in addition to, a person who already acts as the monitor.</p></content></paragraph><paragraph eId="d28e7824"><num>(2)</num><content><p>The High Court may make an order providing that a person ceases to act as the monitor in relation to a moratorium.</p></content></paragraph><paragraph eId="d28e7830"><num>(3)</num><content><p>An order under paragraph <ref href="#d28e7818">(1)</ref> or <ref href="#d28e7824">(2)</ref> may be made on only an application by the directors or the monitor.</p></content></paragraph><paragraph eId="d28e7842"><num>(4)</num><intro><p>The Court may make an order authorising the appointment of a monitor under paragraph <ref href="#d28e7818">(1)</ref> only if the person has provided the Court with a statement that the person—</p></intro><level class="para1"><num>(a)</num><content><p>is a qualified person, and</p></content></level><level class="para1"><num>(b)</num><content><p>consents to act as the monitor in relation to the moratorium.</p></content></level></paragraph><paragraph><num>(5)</num><intro><p>Where it is proposed that more than one person should act as the monitor in relation to the moratorium, the statement under paragraph <ref href="#d28e7842">(4)</ref> must specify—</p></intro><level class="para1"><num>(a)</num><content><p>which functions (if any) are to be exercised by the persons acting jointly, and</p></content></level><level class="para1"><num>(b)</num><content><p>which functions (if any) are to be exercised by any or all of the persons.</p></content></level></paragraph><paragraph><num>(6)</num><content><p>The rules may make provision about the date on which the statement under paragraph <ref href="#d28e7842">(4)</ref> must be made.</p></content></paragraph><paragraph><num>(7)</num><content><p>Where the Court makes an order under paragraph <ref href="#d28e7818">(1)</ref> or <ref href="#d28e7824">(2)</ref> the person begins to act as the monitor, or ceases to act as the monitor, in relation to the moratorium at the time specified in, or determined in accordance with, the order (“the relevant time”).</p></content></paragraph><paragraph eId="d28e7905"><num>(8)</num><intro><p>As soon as reasonably practicable after the relevant time, the monitor must notify the following of the effect of the order—</p></intro><level class="para1"><num>(a)</num><content><p>the registrar,</p></content></level><level class="para1"><num>(b)</num><content><p>every creditor of the company of whose claim the monitor is aware,</p></content></level><level class="para1"><num>(c)</num><content><p>in a case where the company is or has been an employer in respect of an occupational pension scheme that is not a money purchase scheme, the Pensions Regulator, and</p></content></level><level class="para1"><num>(d)</num><content><p>in a case where the company is an employer in respect of such a pension scheme that is an eligible scheme within the meaning given by Article 110 of the Pensions (Northern Ireland) Order 2005, the Board of the Pension Protection Fund.</p></content></level></paragraph><paragraph eId="d28e7935"><num>(9)</num><content><p>If the monitor without reasonable excuse fails to comply with paragraph <ref href="#d28e7905">(8)</ref>, the monitor commits an offence.</p></content></paragraph></article><article eId="d28e7947"><heading>Application of Part where two or more persons act as monitor</heading><num>13EF</num><paragraph eId="d28e7951"><num>(1)</num><intro><p>Where two or more persons act jointly as the monitor—</p></intro><level class="para1"><num>(a)</num><content><p>a reference in this Order to the monitor is a reference to those persons acting jointly;</p></content></level><level class="para1"><num>(b)</num><intro><p>where an offence of omission is committed by the monitor, each of the persons appointed to act jointly—</p></intro><level class="para2"><num>(i)</num><content><p>commits the offence, and</p></content></level><level class="para2"><num>(ii)</num><content><p>may be proceeded against and punished individually.</p></content></level></level></paragraph><paragraph><num>(2)</num><content><p>Where persons act jointly in respect of only some of the functions of the monitor, paragraph <ref href="#d28e7951">(1)</ref> applies only in relation to those functions.</p></content></paragraph><paragraph><num>(3)</num><content><p>Where two or more persons act concurrently as the monitor a reference in this Order to the monitor is a reference to any of the persons appointed (or any combination of them).</p></content></paragraph></article><article><heading>Presumption of validity</heading><num>13EG</num><content><p>An act of the monitor is valid in spite of a defect in the monitor’s appointment or qualification.</p></content></article></chapter><chapter><num>CHAPTER 6</num><heading>Challenges</heading><article eId="d28e8013"><heading>Challenge to monitor’s actions</heading><num>13F</num><paragraph eId="d28e8017"><num>(1)</num><content><p>Any of the persons specified below may apply to the High Court on the ground that an act, omission or decision of the monitor during a moratorium has unfairly harmed the interests of the applicant.</p></content></paragraph><paragraph eId="d28e8023"><num>(2)</num><intro><p>The persons who may apply are—</p></intro><level class="para1"><num>(a)</num><content><p>a creditor, director or member of the company, or</p></content></level><level class="para1"><num>(b)</num><content><p>any other person affected by the moratorium.</p></content></level></paragraph><paragraph><num>(3)</num><content><p>An application under paragraph <ref href="#d28e8017">(1)</ref> may be made during the moratorium or after it has ended.</p></content></paragraph><paragraph eId="d28e8050"><num>(4)</num><intro><p>On an application under paragraph <ref href="#d28e8017">(1)</ref> the Court may—</p></intro><level class="para1"><num>(a)</num><content><p>confirm, reverse or modify any act or decision of the monitor,</p></content></level><level class="para1"><num>(b)</num><content><p>give the monitor directions, or</p></content></level><level class="para1"><num>(c)</num><content><p>make such other order as it thinks fit (but may not, under this sub-paragraph, order the monitor to pay any compensation).</p></content></level></paragraph><paragraph><num>(5)</num><content><p>Where an application under paragraph <ref href="#d28e8017">(1)</ref> relates to a failure by the monitor to bring the moratorium to an end under Article <ref href="#d28e7714">13ED</ref>(1), an order under paragraph <ref href="#d28e8050">(4)</ref> may, in particular, bring the moratorium to an end and make such consequential provision as the Court thinks fit.</p></content></paragraph><paragraph eId="d28e8092"><num>(6)</num><content><p>Where an application under paragraph <ref href="#d28e8017">(1)</ref> relates to the monitor bringing a moratorium to an end under Article <ref href="#d28e7714">13ED</ref>(1), an order under paragraph <ref href="#d28e8050">(4)</ref> may, in particular, provide that the moratorium is not to be taken into account for the purposes of paragraph <ref href="#">2(1)(b)</ref> of Schedule ZA1 (company not eligible for moratorium if moratorium in force within previous 12 months).</p></content></paragraph><paragraph><num>(7)</num><content><p>In making an order under paragraph <ref href="#d28e8050">(4)</ref> the Court must have regard to the need to safeguard the interests of persons who have dealt with the company in good faith and for value.</p></content></paragraph><paragraph><num>(8)</num><content><p>See also Article <ref href="#d28e5836">13CH</ref> (obligations to notify change in end of moratorium).</p></content></paragraph></article><article><heading>Challenges to monitor remuneration in insolvency proceedings</heading><num>13FA</num><paragraph eId="d28e8135"><num>(1)</num><content><p>The rules may confer on an administrator or liquidator of a company the right to apply to the High Court on the ground that remuneration charged by the monitor in relation to a prior moratorium for the company was excessive.</p></content></paragraph><paragraph><num>(2)</num><intro><p>Rules under paragraph <ref href="#d28e8135">(1)</ref> may (among other things) make provision as to—</p></intro><level class="para1"><num>(a)</num><content><p>time limits;</p></content></level><level class="para1"><num>(b)</num><content><p>disposals available to the Court;</p></content></level><level class="para1"><num>(c)</num><content><p>the treatment of costs of the application in the administration or winding up.</p></content></level></paragraph></article><article eId="d28e8171"><heading>Challenge to directors’ actions</heading><num>13FB</num><paragraph eId="d28e8175"><num>(1)</num><intro><p>A creditor or member of a company may apply to the High Court for an order under this Article on the ground that—</p></intro><level class="para1"><num>(a)</num><content><p>during a moratorium, the company’s affairs, business and property are being or have been managed by the directors in a manner which has unfairly harmed the interests of its creditors or members generally or of some part of its creditors or members (including at least the applicant), or</p></content></level><level class="para1"><num>(b)</num><content><p>any actual or proposed act or omission of the directors during a moratorium causes or would cause such harm.</p></content></level></paragraph><paragraph><num>(2)</num><content><p>An application under paragraph <ref href="#d28e8175">(1)</ref> may be made during the moratorium or after it has ended.</p></content></paragraph><paragraph eId="d28e8202"><num>(3)</num><content><p>On an application under paragraph <ref href="#d28e8175">(1)</ref> the Court may make such order as it thinks fit.</p></content></paragraph><paragraph><num>(4)</num><intro><p>An order under paragraph <ref href="#d28e8202">(3)</ref> may in particular—</p></intro><level class="para1"><num>(a)</num><content><p>regulate the management by the directors of the company’s affairs, business and property during the remainder of the moratorium,</p></content></level><level class="para1"><num>(b)</num><content><p>require the directors to refrain from doing or continuing an act complained of by the applicant or to do an act which the applicant has complained they have omitted to do,</p></content></level><level class="para1" eId="d28e8232"><num>(c)</num><content><p>require the summoning of a meeting of the company’s creditors for the purpose of considering such matters as the Court may direct, or</p></content></level><level class="para1"><num>(d)</num><content><p>bring the moratorium to an end and make such consequential provision as the Court thinks fit.</p></content></level></paragraph><paragraph><num>(5)</num><content><p>In making an order under paragraph <ref href="#d28e8202">(3)</ref> the Court must have regard to the need to safeguard the interests of persons who have dealt with the company in good faith and for value.</p></content></paragraph><paragraph><num>(6)</num><content><p>See also Article <ref href="#d28e5836">13CH</ref> (obligations to notify change in end of moratorium).</p></content></paragraph></article><article><heading>Challenge brought by Board of the Pension Protection Fund</heading><num>13FC</num><paragraph><num>(1)</num><intro><p>This Article applies where—</p></intro><level class="para1"><num>(a)</num><intro><p>a moratorium—</p></intro><level class="para2"><num>(i)</num><content><p>is in force in relation to a company that is an employer in respect of an eligible scheme, or</p></content></level><level class="para2"><num>(ii)</num><content><p>is or has been in force in relation to a company that has been an employer in respect of an eligible scheme at any time during the moratorium, and</p></content></level></level><level class="para1"><num>(b)</num><content><p>the trustees or managers of the scheme are a creditor of the company.</p></content></level></paragraph><paragraph><num>(2)</num><content><p>The Board of the Pension Protection Fund may make any application under Article <ref href="#d28e8013">13F</ref><ref href="#d28e8017">(1)</ref> or <ref href="#d28e8171">13FB</ref><ref href="#d28e8175">(1)</ref> that could be made by the trustees or managers as a creditor.</p></content></paragraph><paragraph><num>(3)</num><content><p>For the purposes of such an application, any reference in Article <ref href="#d28e8013">13F</ref><ref href="#d28e8017">(1)</ref> or <ref href="#d28e8171">13FB</ref><ref href="#d28e8175">(1)</ref> to the interests of the applicant is to be read as a reference to the interests of the trustees or managers as a creditor.</p></content></paragraph><paragraph><num>(4)</num><content><p>In this Article “eligible scheme” has the meaning given by Article 110 of the Pensions (Northern Ireland) Order 2005.</p></content></paragraph></article></chapter><chapter><num>CHAPTER 7</num><heading>Offences: general</heading><article><heading>Offence of fraud etc during or in anticipation of moratorium</heading><num>13G</num><paragraph eId="d28e8349"><num>(1)</num><intro><p>An officer of a company commits an offence if, during a moratorium for the company or at any time within the period of 12 months ending with the day on which a moratorium for the company comes into force, the officer—</p></intro><level class="para1"><num>(a)</num><content><p>does any of the things mentioned in paragraph <ref href="#d28e8379">(2)</ref>, or</p></content></level><level class="para1"><num>(b)</num><content><p>was privy to the doing by others of any of the things mentioned in paragraph <ref href="#d28e8397">(2)(c)</ref>, <ref href="#d28e8403">(d)</ref> and <ref href="#d28e8409">(e)</ref>.</p></content></level></paragraph><paragraph eId="d28e8379"><num>(2)</num><intro><p>Those things are—</p></intro><level class="para1" eId="d28e8385"><num>(a)</num><content><p>concealing any part of the company’s property to the value of £500 or more, or concealing any debt due to or from the company,</p></content></level><level class="para1"><num>(b)</num><content><p>fraudulently removing any part of the company’s property to the value of £500 or more,</p></content></level><level class="para1" eId="d28e8397"><num>(c)</num><content><p>concealing, destroying, mutilating or falsifying any document affecting or relating to the company’s property or affairs,</p></content></level><level class="para1" eId="d28e8403"><num>(d)</num><content><p>making any false entry in any document affecting or relating to the company’s property or affairs,</p></content></level><level class="para1" eId="d28e8409"><num>(e)</num><content><p>fraudulently parting with, altering or making any omission in any document affecting or relating to the company’s property or affairs, or</p></content></level><level class="para1" eId="d28e8415"><num>(f)</num><content><p>pawning, pledging or disposing of any property of the company which has been obtained on credit and has not been paid for (unless the pawning, pledging or disposal was in the ordinary way of the company’s business).</p></content></level></paragraph><paragraph><num>(3)</num><intro><p>It is a defence—</p></intro><level class="para1"><num>(a)</num><content><p>for a person charged with an offence under paragraph <ref href="#d28e8349">(1)</ref> in respect of any of the things mentioned in paragraph <ref href="#d28e8385">(2)(a)</ref> or <ref href="#d28e8415">(f)</ref> to prove that the person had no intent to defraud, and</p></content></level><level class="para1"><num>(b)</num><content><p>for a person charged with an offence under paragraph <ref href="#d28e8349">(1)</ref> in respect of any of the things mentioned in paragraph <ref href="#d28e8397">(2)(c)</ref> or <ref href="#d28e8403">(d)</ref> to prove that the person had no intent to conceal the state of affairs of the company or to defeat the law.</p></content></level></paragraph><paragraph eId="d28e8457"><num>(4)</num><intro><p>Where a person pawns, pledges or disposes of any property of a company in circumstances which amount to an offence under paragraph <ref href="#d28e8349">(1)</ref>, every person who takes in pawn or pledge, or otherwise receives, the property commits an offence if the person knows it to be pawned, pledged or disposed of in circumstances which—</p></intro><level class="para1"><num>(a)</num><content><p>amount to an offence under paragraph <ref href="#d28e8349">(1)</ref>, or</p></content></level><level class="para1"><num>(b)</num><content><p>would, if a moratorium were obtained for the company within the period of 12 months beginning with the day on which the pawning, pledging or disposal took place, amount to an offence under paragraph <ref href="#d28e8349">(1)</ref>.</p></content></level></paragraph><paragraph><num>(5)</num><content><p>In this Article, “officer” includes a shadow director.</p></content></paragraph></article><article><heading>Offence of false representation etc to obtain a moratorium</heading><num>13GA</num><paragraph eId="d28e8497"><num>(1)</num><intro><p>An officer of a company commits an offence if, for the purpose of obtaining a moratorium for the company or an extension of a moratorium for the company, the officer—</p></intro><level class="para1"><num>(a)</num><content><p>makes any false representation, or</p></content></level><level class="para1"><num>(b)</num><content><p>fraudulently does, or omits to do, anything.</p></content></level></paragraph><paragraph><num>(2)</num><content><p>Paragraph <ref href="#d28e8497">(1)</ref> applies even if no moratorium or extension is obtained.</p></content></paragraph><paragraph><num>(3)</num><content><p>In this Article, “officer” includes a shadow director.</p></content></paragraph></article><article><heading>Prosecution of delinquent officers of company</heading><num>13GB</num><paragraph><num>(1)</num><content><p>This Article applies where a moratorium has been obtained for a company.</p></content></paragraph><paragraph eId="d28e8543"><num>(2)</num><intro><p>If it appears to the monitor that any past or present officer of the company has committed an offence in connection with the moratorium, the monitor must forthwith—</p></intro><level class="para1"><num>(a)</num><content><p>report the matter to the Department, and</p></content></level><level class="para1"><num>(b)</num><content><p>provide the Department with such information and give it such access to and facilities for inspecting and taking copies of documents (being information or documents in the possession or under the control of the monitor and relating to the matter in question) as it requires.</p></content></level></paragraph><paragraph eId="d28e8561"><num>(3)</num><content><p>Where a matter is reported to the Department under paragraph <ref href="#d28e8543">(2)</ref>, the Department may, for the purpose of investigating the matter and such other matters relating to the affairs of the company as appear to the Department to require investigation, exercise any of the powers which are exercisable by inspectors appointed under section 431 or 432 of the Companies Act 1985.</p></content></paragraph><paragraph><num>(4)</num><content><p>For the purpose of such an investigation any obligation imposed on a person by any provision of the Companies Acts to produce documents or give information to, or otherwise to assist, inspectors so appointed is to be regarded as an obligation similarly to assist the Department in its investigation.</p></content></paragraph><paragraph><num>(5)</num><content><p>Where a question is put to a person in exercise of the powers conferred by paragraph <ref href="#d28e8561">(3)</ref>, the person’s answer may be used in evidence against them.</p></content></paragraph><paragraph eId="d28e8585"><num>(6)</num><intro><p>However, in criminal proceedings in which the person is charged with an offence other than a false statement offence—</p></intro><level class="para1"><num>(a)</num><content><p>no evidence relating to the answer may be adduced, and</p></content></level><level class="para1"><num>(b)</num><content><p>no question relating to it may be asked,</p></content></level><wrapUp><p>by or on behalf of the prosecution, unless evidence relating to it is adduced, or a question relating to it is asked, in the proceedings by or on behalf of the person.</p></wrapUp></paragraph><paragraph eId="d28e8605"><num>(7)</num><content><p>In paragraph (6) “false statement offence” means an offence under Article 7 or 10 of the Perjury (Northern Ireland) Order 1979 (<ref eId="c00018" href="http://www.legislation.gov.uk/id/nisi/1979/1714">S.I. 1979/1714 (N.I. 19)</ref>) (false statements made on oath otherwise than in judicial proceedings or made otherwise than on oath).</p></content></paragraph><paragraph eId="d28e8614"><num>(8)</num><content><p>Where the Director of Public Prosecutions for Northern Ireland institutes criminal proceedings following any report under paragraph <ref href="#d28e8543">(2)</ref>, the monitor, and every officer and agent of the company past and present (other than the defendant), must give the Director all assistance in connection with the prosecution which they are reasonably able to give.</p></content></paragraph><paragraph><num>(9)</num><content><p>For this purpose “agent” includes any banker or solicitor of the company and any person employed by the company as auditor, whether that person is or is not an officer of the company.</p></content></paragraph><paragraph><num>(10)</num><content><p>The High Court may, on the application of the Director of Public Prosecutions for Northern Ireland, direct a person who has failed to comply with paragraph <ref href="#d28e8614">(8)</ref> to comply with it.</p></content></paragraph></article></chapter><chapter><num>CHAPTER 8</num><heading>Miscellaneous and general</heading><hcontainer name="crossheading" ukl:Name="Pblock"><heading>Special rules for certain kinds of company etc</heading><article><heading>Regulated companies: modifications to this Part</heading><num>13H</num><paragraph><num>(1)</num><content><p>For the purposes of Articles <ref href="#d28e4625">13B</ref> and <ref href="#d28e4677">13BA</ref> as they apply in relation to a regulated company, Article <ref href="#d28e4790">13BC</ref><ref href="#d28e4794">(1)</ref> has effect as if the documents listed there included a reference to the written consent of the appropriate regulator to the appointment of the proposed monitor.</p></content></paragraph><paragraph><num>(2)</num><content><p>The remaining provisions of this Article apply in relation to a moratorium for a regulated company.</p></content></paragraph><paragraph><num>(3)</num><content><p>Any notice under Article <ref href="#d28e4975">13BE</ref><ref href="#d28e4985">(2)</ref>, <ref href="#d28e5836">13CH</ref><ref href="#d28e5982">(2)</ref> to <ref href="#d28e6005">(4)</ref> or <ref href="#d28e7814">13EE</ref><ref href="#d28e7905">(8)</ref> must also be sent by the monitor to the appropriate regulator.</p></content></paragraph><paragraph eId="d28e8700"><num>(4)</num><content><p>The directors must give the appropriate regulator notice of any meeting of the company’s creditors that is to be held for the purposes of Article <ref href="#d28e5364">13CC</ref><ref href="#d28e5377">(2)</ref> or <ref href="#d28e8171">13FB</ref><ref href="#d28e8232">(4)(c)</ref>.</p></content></paragraph><paragraph eId="d28e8716"><num>(5)</num><content><p>If the directors fail to comply with paragraph <ref href="#d28e8700">(4)</ref>, any director who did not have a reasonable excuse for the failure commits an offence.</p></content></paragraph><paragraph eId="d28e8725"><num>(6)</num><content><p>The appropriate regulator, or a person appointed by the appropriate regulator, may in the way provided for by the rules, participate (but not vote) in any meeting of the company’s creditors that is held for the purposes of this Part.</p></content></paragraph><paragraph><num>(7)</num><content><p>The appropriate regulator is entitled to be heard on any application to the High Court for permission under Article <ref href="#d28e7405">13DM</ref><ref href="#d28e7409">(1)</ref> or <ref href="#d28e7526">13DN</ref><ref href="#d28e7530">(1)</ref> (disposal of charged property, etc.).</p></content></paragraph><paragraph><num>(8)</num><content><p>The High Court may make an order under Article <ref href="#d28e7814">13EE</ref>(1) only if the appropriate regulator has given its written consent to the appointment of the proposed monitor.</p></content></paragraph><paragraph><num>(9)</num><content><p>The persons who may apply to the High Court under Article <ref href="#d28e7814">13EE</ref><ref href="#d28e7830">(3)</ref>, <ref href="#d28e8013">13F</ref><ref href="#d28e8175">(1)</ref> or <ref href="#d28e8171">13FB</ref><ref href="#d28e8175">(1)</ref> include the appropriate regulator.</p></content></paragraph><paragraph><num>(10)</num><content><p>If a person other than a regulator applies to the High Court under Article <ref href="#d28e7814">13EE</ref><ref href="#d28e7830">(3)</ref>, <ref href="#d28e8013">13F</ref><ref href="#d28e8175">(1)</ref> or <ref href="#d28e8171">13FB</ref><ref href="#d28e8175">(1)</ref> the appropriate regulator is entitled to be heard on the application.</p></content></paragraph><paragraph><num>(11)</num><content><p>If either regulator makes an application to the High Court under Article <ref href="#d28e7814">13EE</ref><ref href="#d28e7830">(3)</ref>, <ref href="#d28e8013">13F</ref><ref href="#d28e8175">(1)</ref> or <ref href="#d28e8171">13FB</ref><ref href="#d28e8175">(1)</ref> in relation to a PRA-regulated company, the other regulator is entitled to be heard on the application.</p></content></paragraph><paragraph><num>(12)</num><content><p>This Article does not affect any right that the appropriate regulator has (apart from this Article) as a creditor of a regulated company.</p></content></paragraph><paragraph eId="d28e8826"><num>(13)</num><intro><p>In this Article—</p></intro><hcontainer name="definition"><intro><p>“the appropriate regulator” means—</p></intro><level class="para1"><num>(a)</num><content><p>where the regulated company is a PRA-regulated company, each of the Financial Conduct Authority and the Prudential Regulation Authority, and</p></content></level><level class="para1"><num>(b)</num><content><p>where the regulated company is not a PRA-regulated company, the Financial Conduct Authority;</p></content></level></hcontainer><hcontainer name="definition"><content><p>“PRA-authorised person” has the meaning given by section 2B(5) of the Financial Services and Markets Act 2000;</p></content></hcontainer><hcontainer name="definition"><intro><p>“PRA-regulated company” means a regulated company which—</p></intro><level class="para1"><num>(a)</num><content><p>is, or has been, a PRA-authorised person,</p></content></level><level class="para1"><num>(b)</num><content><p>is, or has been, an appointed representative within the meaning given by section 39 of the Financial Services and Markets Act 2000, whose principal (or one of whose principals) is, or was, a PRA-authorised person, or</p></content></level><level class="para1"><num>(c)</num><content><p>is carrying on, or has carried on, a PRA-regulated activity (within the meaning of section 22A of that Act) in contravention of the general prohibition;</p></content></level></hcontainer><hcontainer name="definition"><content><p>“regulated activity” has the meaning given by section 22 of the Financial Services and Markets Act 2000, taken with Schedule 2 to that Act and any order under that section;</p></content></hcontainer><hcontainer name="definition"><intro><p>“regulated company” means a company which—</p></intro><level class="para1"><num>(a)</num><content><p>is, or has been, an authorised person within the meaning given by section 31 of the Financial Services and Markets Act 2000,</p></content></level><level class="para1"><num>(b)</num><content><p>is, or has been, an appointed representative within the meaning given by section 39 of that Act, or</p></content></level><level class="para1"><num>(c)</num><content><p>is carrying on, or has carried on, a regulated activity in contravention of the general prohibition within the meaning given by section 19 of that Act;</p></content></level></hcontainer><hcontainer name="definition"><content><p>“regulator” means the Financial Conduct Authority or the Prudential Regulation Authority.</p></content></hcontainer></paragraph><paragraph eId="d28e8892"><num>(14)</num><content><p>Regulations may amend this Article for the purposes of changing the definition of “regulated company” in paragraph <ref href="#d28e8826">(13)</ref>.</p></content></paragraph><paragraph><num>(15)</num><content><p>Regulations may not be made under paragraph <ref href="#d28e8892">(14)</ref> unless a draft of the regulations has been laid before, and approved by a resolution of, the Assembly.</p></content></paragraph></article><article><heading>Power to modify this Part etc in relation to certain companies</heading><num>13HA</num><paragraph eId="d28e8917"><num>(1)</num><intro><p>Regulations may—</p></intro><level class="para1"><num>(a)</num><content><p>modify this Part as it applies in relation to a company for which there is a special administration regime, or</p></content></level><level class="para1"><num>(b)</num><content><p>make provision in connection with the interaction between this Part and any other insolvency procedure in relation to such a company.</p></content></level></paragraph><paragraph eId="d28e8935"><num>(2)</num><content><p>The power in paragraph <ref href="#d28e8917">(1)</ref> may, in particular, be used to amend, repeal, revoke or otherwise modify any statutory provision.</p></content></paragraph><paragraph><num>(3)</num><intro><p>In this Article—</p></intro><hcontainer name="definition"><content><p>“ordinary administration” means the insolvency procedure provided for by Schedule B1;</p></content></hcontainer><hcontainer name="definition"><intro><p>“special administration regime” means provision made by any statutory provision for an insolvency procedure that—</p></intro><level class="para1"><num>(a)</num><content><p>is similar or corresponds to ordinary administration, and</p></content></level><level class="para1"><num>(b)</num><content><p>provides for the administrator to have one or more special objectives instead of or in addition to the objectives of ordinary administration.</p></content></level></hcontainer></paragraph><paragraph eId="d28e8968"><num>(4)</num><content><p>Regulations may not be made under paragraph <ref href="#d28e8917">(1)</ref> unless a draft of the regulations has been laid before, and approved by a resolution of, the Assembly.</p></content></paragraph></article><article><heading>Power to make provision in connection with pension schemes</heading><num>13HB</num><paragraph><num>(1)</num><intro><p>A Northern Ireland department may by regulations provide that, in a case where—</p></intro><level class="para1"><num>(a)</num><intro><p>a moratorium—</p></intro><level class="para2"><num>(i)</num><content><p>is in force in relation to a company that is an employer in respect of an eligible scheme, or</p></content></level><level class="para2"><num>(ii)</num><content><p>is or has been in force in relation to a company that has been an employer in respect of an eligible scheme at any time during the moratorium, and</p></content></level></level><level class="para1"><num>(b)</num><content><p>the trustees or managers of the scheme are a creditor of the company,</p></content></level><wrapUp><p>the Board of the Pension Protection Fund may exercise any of the following rights.</p></wrapUp></paragraph><paragraph><num>(2)</num><intro><p>The rights are those which are exercisable by the trustees or managers as a creditor of the company under or by virtue of—</p></intro><level class="para1"><num>(a)</num><content><p>Article <ref href="#d28e5364">13CC</ref>, or</p></content></level><level class="para1"><num>(b)</num><content><p>a court order under Article <ref href="#d28e8171">13FB</ref><ref href="#d28e8232">(4)(c)</ref>.</p></content></level></paragraph><paragraph><num>(3)</num><intro><p>Regulations under paragraph (1) may provide that the Board may exercise any such rights—</p></intro><level class="para1"><num>(a)</num><content><p>to the exclusion of the trustees or managers of the scheme, or</p></content></level><level class="para1"><num>(b)</num><content><p>in addition to the exercise of those rights by the trustees or managers of the scheme.</p></content></level></paragraph><paragraph><num>(4)</num><intro><p>Regulations under paragraph (1)—</p></intro><level class="para1"><num>(a)</num><content><p>may specify conditions that must be met before the Board may exercise any such rights;</p></content></level><level class="para1"><num>(b)</num><content><p>may provide for any such rights to be exercisable by the Board for a specified period;</p></content></level><level class="para1"><num>(c)</num><content><p>may make provision in connection with any such rights ceasing to be so exercisable at the end of such a period.</p></content></level></paragraph><paragraph><num>(5)</num><content><p>Regulations may not be made under paragraph (1) unless a draft of the regulations has been laid before, and approved by a resolution of, the Assembly.</p></content></paragraph><paragraph><num>(6)</num><content><p>In this Article “eligible scheme” has the meaning given by Article 110 of the Pensions (Northern Ireland) Order 2005.</p></content></paragraph></article></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading>Floating charges</heading><article><heading>Void provisions in floating charge documents</heading><num>13HC</num><paragraph eId="d28e9106"><num>(1)</num><intro><p>A provision in an instrument creating a floating charge is void if it provides for the obtaining of a moratorium, or anything done with a view to obtaining a moratorium, to be—</p></intro><level class="para1"><num>(a)</num><content><p>an event causing the floating charge to crystallise,</p></content></level><level class="para1"><num>(b)</num><content><p>an event causing restrictions which would not otherwise apply to be imposed on the disposal of property by the company, or</p></content></level><level class="para1"><num>(c)</num><content><p>a ground for the appointment of a receiver.</p></content></level></paragraph><paragraph><num>(2)</num><content><p>The reference in paragraph <ref href="#d28e9106">(1)</ref> to anything done with a view to obtaining a moratorium includes any preliminary decision or investigation.</p></content></paragraph><paragraph><num>(3)</num><content><p>In paragraph <ref href="#d28e9106">(1)</ref> “receiver” includes a manager and a person who is appointed both receiver and manager.</p></content></paragraph><paragraph><num>(4)</num><intro><p>Paragraph <ref href="#d28e9106">(1)</ref> does not apply to a provision in an instrument creating a floating charge that is—</p></intro><level class="para1"><num>(a)</num><content><p>a collateral security (as defined by Article <ref href="#d28e7010">13DI</ref>);</p></content></level><level class="para1"><num>(b)</num><content><p>a market charge (as defined by Article <ref href="#d28e7010">13DI</ref>);</p></content></level><level class="para1"><num>(c)</num><content><p>a security financial collateral arrangement (within the meaning of regulation 3 of the Financial Collateral Arrangements (No. 2) Regulations 2003 (<ref eId="c00019" href="http://www.legislation.gov.uk/id/uksi/2003/3226">S.I. 2003/3226</ref>));</p></content></level><level class="para1"><num>(d)</num><content><p>a system-charge (as defined by Article <ref href="#d28e7010">13DI</ref>).</p></content></level></paragraph></article></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading>Interpretation of this Part</heading><article eId="d28e9199"><heading>Meaning of “pre-moratorium debt” and “moratorium debt”</heading><num>13HD</num><paragraph><num>(1)</num><intro><p>In this Part “pre-moratorium debt”, in relation to a company for which a moratorium is or has been in force, means—</p></intro><level class="para1"><num>(a)</num><content><p>any debt or other liability to which the company becomes subject before the moratorium comes into force, or</p></content></level><level class="para1" eId="d28e9215"><num>(b)</num><content><p>any debt or other liability to which the company has become or may become subject during the moratorium by reason of any obligation incurred before the moratorium comes into force,</p></content></level><wrapUp><p>but this is subject to paragraph <ref href="#d28e9249">(3)</ref>.</p></wrapUp></paragraph><paragraph><num>(2)</num><intro><p>In this Part “moratorium debt”, in relation to a company for which a moratorium is or has been in force, means—</p></intro><level class="para1"><num>(a)</num><content><p>any debt or other liability to which the company becomes subject during the moratorium, other than by reason of an obligation incurred before the moratorium came into force, or</p></content></level><level class="para1"><num>(b)</num><content><p>any debt or other liability to which the company has become or may become subject after the end of the moratorium by reason of an obligation incurred during the moratorium,</p></content></level><wrapUp><p>but this is subject to paragraph <ref href="#d28e9249">(3)</ref>.</p></wrapUp></paragraph><paragraph eId="d28e9249"><num>(3)</num><intro><p>For the purposes of this Part—</p></intro><level class="para1" eId="d28e9255"><num>(a)</num><intro><p>a liability in tort is a “pre-moratorium debt” if either—</p></intro><level class="para2"><num>(i)</num><content><p>the cause of action has accrued before the moratorium comes into force, or</p></content></level><level class="para2"><num>(ii)</num><content><p>all the elements necessary to establish the cause of action exist before the moratorium comes into force except for actionable damage;</p></content></level></level><level class="para1"><num>(b)</num><intro><p>a liability in tort is a “moratorium debt” if it does not fall within sub-paragraph <ref href="#d28e9255">(a)</ref> and either—</p></intro><level class="para2"><num>(i)</num><content><p>the cause of action has accrued during the moratorium, or</p></content></level><level class="para2"><num>(ii)</num><content><p>all the elements necessary to establish the cause of action exist before the moratorium comes to an end except for actionable damage.</p></content></level></level></paragraph><paragraph><num>(4)</num><content><p>Regulations may amend this Article for the purposes of changing the definition of “pre-moratorium debt” and “moratorium debt” in this Part.</p></content></paragraph><paragraph><num>(5)</num><content><p>Regulations may not be made under paragraph (4) unless a draft of the regulations has been laid before, and approved by a resolution of, the Assembly.</p></content></paragraph></article><article><heading>Interpretation of this Part: general</heading><num>13HE</num><paragraph eId="d28e9313"><num>(1)</num><intro><p>In this Part—</p></intro><hcontainer name="definition"><intro><p>“company” means—</p></intro><level class="para1"><num>(a)</num><content><p>a company registered under the Companies Act 2006 in Northern Ireland, or</p></content></level><level class="para1"><num>(b)</num><content><p>an unregistered company that may be wound up under Part 6 of this Order;</p></content></level></hcontainer><hcontainer name="definition"><content><p>“eligible”, in relation to a company, has the meaning given by Schedule ZA1;</p></content></hcontainer><hcontainer name="definition"><intro><p>“employer”, in relation to a pension scheme—</p></intro><level class="para1"><num>(a)</num><content><p>in Articles 13BE(2)(c), 13CH(8)(c) and 13EE(8)(c), means an employer within the meaning of Article 2(2) of the Pensions (Northern Ireland) Order 2005;</p></content></level><level class="para1"><num>(b)</num><content><p>elsewhere in this Part, has the same meaning that it has for the purposes of Part 3 of the Pensions (Northern Ireland) Order 2005 (see Article 2(2) and (5) of that Order);</p></content></level></hcontainer><hcontainer name="definition"><content><p>“hire-purchase agreement” includes a conditional sale agreement, a chattel leasing agreement and a retention of title agreement;</p></content></hcontainer><hcontainer name="definition"><content><p>“money purchase scheme” has the meaning given by section 176(1) of the Pension Schemes (Northern Ireland) Act 1993;</p></content></hcontainer><hcontainer name="definition"><content><p>“the monitor”, in relation to a moratorium, means the person who has the functions of the monitor in relation to the moratorium (see also Article <ref href="#d28e7947">13EF</ref> for cases where two or more persons act as the monitor);</p></content></hcontainer><hcontainer name="definition"><content><p>“moratorium” means a moratorium under this Part;</p></content></hcontainer><hcontainer name="definition"><content><p>“moratorium debt” has the meaning given by Article <ref href="#d28e9199">13HD</ref>;</p></content></hcontainer><hcontainer name="definition"><content><p>“occupational pension scheme” has the meaning given by section 1 of the Pension Schemes (Northern Ireland) Act 1993;</p></content></hcontainer><hcontainer name="definition"><content><p>“pension scheme” has the meaning given by section 1 of the Pension Schemes (Northern Ireland) Act 1993;</p></content></hcontainer><hcontainer name="definition"><content><p>“pre-moratorium debt” has the meaning given by Article <ref href="#d28e9199">13HD</ref>;</p></content></hcontainer><hcontainer name="definition"><content><p>“qualified person” means a person qualified to act as an insolvency practitioner;</p></content></hcontainer><hcontainer name="definition"><intro><p>“unable to pay its debts”—</p></intro><level class="para1"><num>(a)</num><content><p>in relation to a registered company, has the same meaning as in Part 5 (see Article 103);</p></content></level><level class="para1"><num>(b)</num><content><p>in relation to an unregistered company, has the same meaning as in Part 6 (see Articles 186 to 188).</p></content></level></hcontainer></paragraph><paragraph eId="d28e9409"><num>(2)</num><content><p>Regulations may amend this Article for the purposes of changing the definition of “qualified person” in paragraph (1).</p></content></paragraph><paragraph><num>(3)</num><content><p>Regulations may not be made under paragraph <ref href="#d28e9409">(2)</ref> unless a draft of the regulations has been laid before, and approved by a resolution of, the Assembly.</p></content></paragraph></article></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading>Regulations</heading><article><heading>Regulations</heading><num>13HF</num><content><p>Regulations made in the exercise of any power conferred by this Part may make consequential, supplementary, incidental or transitional provision or savings.</p></content></article></hcontainer></chapter></part></quotedStructure></mod></p></content></subsection>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-4-2"><num>(2)</num><content><p>Schedule 5 inserts into the Insolvency (Northern Ireland) Order 1989 a new Schedule ZA1 (eligible companies).</p></content></subsection>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-4-3"><num>(3)</num><content><p>Schedule 6 inserts into the Insolvency (Northern Ireland) Order 1989 a new Schedule ZA2 (contracts involving financial services).</p></content></subsection>
<section xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-5"><num>5</num><heading>Moratoriums in Northern Ireland: further amendments and transition</heading><subsection eId="section-5-1"><num>(1)</num><content><p>Schedule 7 contains consequential and other amendments to do with moratoriums under new Part 1A of the Insolvency (Northern Ireland) Order 1989 (S.I. 1989/2405 (N.I. 19)).</p></content></subsection><subsection eId="section-5-2"><num>(2)</num><content><p>Nothing in this Act affects the operation of the Insolvency (Northern Ireland) Order 1989, or any other statutory provision, in relation to a moratorium under Schedule A1 to that Order which comes into force before the repeal of that Schedule by Schedule 7 to this Act.</p></content></subsection><subsection eId="section-5-3"><num>(3)</num><content><p>Subsection (2) is without prejudice to the operation of section 16 of the Interpretation Act 1978 (general savings).</p></content></subsection><subsection eId="section-5-4"><num>(4)</num><content><p>In this section “<term refersTo="#term-statutory-provision" eId="term-statutory-provision">statutory provision</term>” has the meaning given by section 1(f) of the Interpretation Act (Northern Ireland) 1954 (c. 33 (N.I.)).</p></content></subsection></section>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-5-1"><num>(1)</num><content><p>Schedule 7 contains consequential and other amendments to do with moratoriums under new Part 1A of the Insolvency (Northern Ireland) Order 1989 (S.I. 1989/2405 (N.I. 19)).</p></content></subsection>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-5-2"><num>(2)</num><content><p>Nothing in this Act affects the operation of the Insolvency (Northern Ireland) Order 1989, or any other statutory provision, in relation to a moratorium under Schedule A1 to that Order which comes into force before the repeal of that Schedule by Schedule 7 to this Act.</p></content></subsection>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-5-3"><num>(3)</num><content><p>Subsection (2) is without prejudice to the operation of section 16 of the Interpretation Act 1978 (general savings).</p></content></subsection>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-5-4"><num>(4)</num><content><p>In this section “<term refersTo="#term-statutory-provision" eId="term-statutory-provision">statutory provision</term>” has the meaning given by section 1(f) of the Interpretation Act (Northern Ireland) 1954 (c. 33 (N.I.)).</p></content></subsection>
<section xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-6"><num>6</num><heading>Moratoriums in Northern Ireland: temporary modifications</heading><content><p>Schedule 8 makes temporary modifications to Part 1A of the Insolvency (Northern Ireland) Order 1989 (moratorium) and other temporary provision in connection with that Part.</p></content></section>
<hcontainer xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" name="crossheading" ukl:Name="Pblock" eId="crossheading-arrangements-and-reconstructions-for-companies-in-financial-difficulty"><heading><i>Arrangements and reconstructions for companies in financial difficulty</i></heading><section eId="section-7"><num>7</num><heading>Arrangements and reconstructions for companies in financial difficulty</heading><content><p>Schedule 9 contains provision about arrangements and reconstructions for companies in financial difficulty.</p></content></section></hcontainer>
<section xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-7"><num>7</num><heading>Arrangements and reconstructions for companies in financial difficulty</heading><content><p>Schedule 9 contains provision about arrangements and reconstructions for companies in financial difficulty.</p></content></section>
<hcontainer xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" name="crossheading" ukl:Name="Pblock" eId="crossheading-administration-sales-to-connected-persons"><heading><i>Administration: sales to connected persons</i></heading><section eId="section-8"><num>8</num><heading>Administration in Great Britain: sales to connected persons</heading><subsection eId="section-8-1"><num>(1)</num><content><p>Paragraph 60A of Schedule B1 to the Insolvency Act 1986 (which expired in May 2020) is revived.</p></content></subsection><subsection eId="section-8-2"><num>(2)</num><content><p><mod>For sub-paragraph (10) of that paragraph substitute—<quotedStructure startQuote="“" endQuote="”" uk:context="unknown" uk:docName="unknown" ukl:TargetClass="unknown" ukl:TargetSubClass="unknown" ukl:Context="unknown" ukl:Format="default"><subsection><num>(10)</num><content><p>This paragraph expires at the end of June 2021 unless the power conferred by it is exercised before then.</p></content></subsection></quotedStructure></mod></p></content></subsection></section><section eId="section-9"><num>9</num><heading>Administration in Northern Ireland: sales to connected persons</heading><subsection eId="section-9-1"><num>(1)</num><content><p>The Insolvency (Northern Ireland) Order 1989 (S.I. 1989/2405 (N.I. 19)) is amended as follows.</p></content></subsection><subsection eId="section-9-2"><num>(2)</num><content><p>Schedule B1 (administration) is amended in accordance with subsections (3) to (5).</p></content></subsection><subsection eId="section-9-3"><num>(3)</num><content><p>Paragraph 61 (powers of administrator) becomes sub-paragraph (1) of that paragraph.</p></content></subsection><subsection eId="section-9-4"><num>(4)</num><content><p><mod>After that sub-paragraph insert—<quotedStructure startQuote="“" endQuote="”" uk:context="unknown" uk:docName="unknown" ukl:TargetClass="unknown" ukl:TargetSubClass="unknown" ukl:Context="unknown" ukl:Format="default"><subsection><num>(2)</num><content><p>But the power to sell, hire out or otherwise dispose of property is subject to any regulations that may be made under paragraph 61A.</p></content></subsection></quotedStructure></mod></p></content></subsection><subsection eId="section-9-5"><num>(5)</num><content><p><mod>After paragraph 61 insert—<quotedStructure startQuote="“" endQuote="”" uk:context="unknown" uk:docName="unknown" ukl:TargetClass="unknown" ukl:TargetSubClass="unknown" ukl:Context="unknown" ukl:Format="default"><section><num>61A</num><heading/><subsection><num>(1)</num><intro><p>Regulations may make provision for—</p></intro><level class="para1"><num>(a)</num><content><p>prohibiting, or</p></content></level><level class="para1"><num>(b)</num><content><p>imposing requirements or conditions in relation to,</p></content></level><wrapUp><p>the disposal, hiring out or sale of property of a company by the administrator to a connected person in circumstances specified in the regulations.</p></wrapUp></subsection><subsection><num>(2)</num><intro><p>Regulations under this paragraph may in particular require the approval of, or provide for the imposition of requirements or conditions by—</p></intro><level class="para1"><num>(a)</num><content><p>creditors of the company,</p></content></level><level class="para1"><num>(b)</num><content><p>the High Court, or</p></content></level><level class="para1"><num>(c)</num><content><p>a person of a description specified in the regulations.</p></content></level></subsection><subsection><num>(3)</num><intro><p>In sub-paragraph (1), “<term refersTo="#term-connected-person">connected person</term>”, in relation to a company, means—</p></intro><level class="para1"><num>(a)</num><content><p>a relevant person in relation to the company, or</p></content></level><level class="para1"><num>(b)</num><content><p>a company connected with the company.</p></content></level></subsection><subsection><num>(4)</num><intro><p>For the purposes of sub-paragraph (3)—</p></intro><level class="para1"><num>(a)</num><intro><p>“<term refersTo="#term-relevant-person">relevant person</term>”, in relation to a company, means—</p></intro><level class="para2"><num>(i)</num><content><p>a director or other officer, or shadow director, of the company;</p></content></level><level class="para2"><num>(ii)</num><content><p>a non-employee associate of such a person;</p></content></level><level class="para2"><num>(iii)</num><content><p>a non-employee associate of the company;</p></content></level></level><level class="para1"><num>(b)</num><content><p>a company is connected with another if any relevant person of one is or has been a relevant person of the other.</p></content></level></subsection><subsection><num>(5)</num><content><p>In sub-paragraph (4), “non-employee associate” of a person means a person who is an associate of that person otherwise than by virtue of
employing or being employed by that person.</p></content></subsection><subsection><num>(6)</num><content><p>Paragraph (11) of Article 4 (extended definition of company) applies for the purposes of sub-paragraphs (3) to (5) as it applies for the purposes of that Article.</p></content></subsection><subsection><num>(7)</num><content><p>Regulations under this paragraph may make incidental, consequential, supplemental and transitional provision.</p></content></subsection><subsection><num>(8)</num><content><p>Regulations may not be made under this paragraph unless a draft of the regulations has been laid before, and approved by a resolution of, the Assembly.</p></content></subsection><subsection><num>(9)</num><content><p>This paragraph expires at the end of June 2021 unless the power conferred by it is exercised before then.</p></content></subsection></section></quotedStructure></mod></p></content></subsection><subsection eId="section-9-6"><num>(6)</num><content><p><mod>In Article 2(2), in the definition of “regulations”, after the words “and paragraph 16 of Schedule A1” (which are repealed by paragraph 3(b) of Schedule 7 to this Act) insert <quotedText>“
and paragraph 61A of Schedule B1
”</quotedText>.</mod></p></content></subsection></section></hcontainer>
<section xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" eId="section-8"><num>8</num><heading>Administration in Great Britain: sales to connected persons</heading><subsection eId="section-8-1"><num>(1)</num><content><p>Paragraph 60A of Schedule B1 to the Insolvency Act 1986 (which expired in May 2020) is revived.</p></content></subsection><subsection eId="section-8-2"><num>(2)</num><content><p><mod>For sub-paragraph (10) of that paragraph substitute—<quotedStructure startQuote="“" endQuote="”" uk:context="unknown" uk:docName="unknown" ukl:TargetClass="unknown" ukl:TargetSubClass="unknown" ukl:Context="unknown" ukl:Format="default"><subsection><num>(10)</num><content><p>This paragraph expires at the end of June 2021 unless the power conferred by it is exercised before then.</p></content></subsection></quotedStructure></mod></p></content></subsection></section>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-8-1"><num>(1)</num><content><p>Paragraph 60A of Schedule B1 to the Insolvency Act 1986 (which expired in May 2020) is revived.</p></content></subsection>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" eId="section-8-2"><num>(2)</num><content><p><mod>For sub-paragraph (10) of that paragraph substitute—<quotedStructure startQuote="“" endQuote="”" uk:context="unknown" uk:docName="unknown" ukl:TargetClass="unknown" ukl:TargetSubClass="unknown" ukl:Context="unknown" ukl:Format="default"><subsection><num>(10)</num><content><p>This paragraph expires at the end of June 2021 unless the power conferred by it is exercised before then.</p></content></subsection></quotedStructure></mod></p></content></subsection>
<section xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" eId="section-9"><num>9</num><heading>Administration in Northern Ireland: sales to connected persons</heading><subsection eId="section-9-1"><num>(1)</num><content><p>The Insolvency (Northern Ireland) Order 1989 (S.I. 1989/2405 (N.I. 19)) is amended as follows.</p></content></subsection><subsection eId="section-9-2"><num>(2)</num><content><p>Schedule B1 (administration) is amended in accordance with subsections (3) to (5).</p></content></subsection><subsection eId="section-9-3"><num>(3)</num><content><p>Paragraph 61 (powers of administrator) becomes sub-paragraph (1) of that paragraph.</p></content></subsection><subsection eId="section-9-4"><num>(4)</num><content><p><mod>After that sub-paragraph insert—<quotedStructure startQuote="“" endQuote="”" uk:context="unknown" uk:docName="unknown" ukl:TargetClass="unknown" ukl:TargetSubClass="unknown" ukl:Context="unknown" ukl:Format="default"><subsection><num>(2)</num><content><p>But the power to sell, hire out or otherwise dispose of property is subject to any regulations that may be made under paragraph 61A.</p></content></subsection></quotedStructure></mod></p></content></subsection><subsection eId="section-9-5"><num>(5)</num><content><p><mod>After paragraph 61 insert—<quotedStructure startQuote="“" endQuote="”" uk:context="unknown" uk:docName="unknown" ukl:TargetClass="unknown" ukl:TargetSubClass="unknown" ukl:Context="unknown" ukl:Format="default"><section><num>61A</num><heading/><subsection><num>(1)</num><intro><p>Regulations may make provision for—</p></intro><level class="para1"><num>(a)</num><content><p>prohibiting, or</p></content></level><level class="para1"><num>(b)</num><content><p>imposing requirements or conditions in relation to,</p></content></level><wrapUp><p>the disposal, hiring out or sale of property of a company by the administrator to a connected person in circumstances specified in the regulations.</p></wrapUp></subsection><subsection><num>(2)</num><intro><p>Regulations under this paragraph may in particular require the approval of, or provide for the imposition of requirements or conditions by—</p></intro><level class="para1"><num>(a)</num><content><p>creditors of the company,</p></content></level><level class="para1"><num>(b)</num><content><p>the High Court, or</p></content></level><level class="para1"><num>(c)</num><content><p>a person of a description specified in the regulations.</p></content></level></subsection><subsection><num>(3)</num><intro><p>In sub-paragraph (1), “<term refersTo="#term-connected-person">connected person</term>”, in relation to a company, means—</p></intro><level class="para1"><num>(a)</num><content><p>a relevant person in relation to the company, or</p></content></level><level class="para1"><num>(b)</num><content><p>a company connected with the company.</p></content></level></subsection><subsection><num>(4)</num><intro><p>For the purposes of sub-paragraph (3)—</p></intro><level class="para1"><num>(a)</num><intro><p>“<term refersTo="#term-relevant-person">relevant person</term>”, in relation to a company, means—</p></intro><level class="para2"><num>(i)</num><content><p>a director or other officer, or shadow director, of the company;</p></content></level><level class="para2"><num>(ii)</num><content><p>a non-employee associate of such a person;</p></content></level><level class="para2"><num>(iii)</num><content><p>a non-employee associate of the company;</p></content></level></level><level class="para1"><num>(b)</num><content><p>a company is connected with another if any relevant person of one is or has been a relevant person of the other.</p></content></level></subsection><subsection><num>(5)</num><content><p>In sub-paragraph (4), “non-employee associate” of a person means a person who is an associate of that person otherwise than by virtue of
employing or being employed by that person.</p></content></subsection><subsection><num>(6)</num><content><p>Paragraph (11) of Article 4 (extended definition of company) applies for the purposes of sub-paragraphs (3) to (5) as it applies for the purposes of that Article.</p></content></subsection><subsection><num>(7)</num><content><p>Regulations under this paragraph may make incidental, consequential, supplemental and transitional provision.</p></content></subsection><subsection><num>(8)</num><content><p>Regulations may not be made under this paragraph unless a draft of the regulations has been laid before, and approved by a resolution of, the Assembly.</p></content></subsection><subsection><num>(9)</num><content><p>This paragraph expires at the end of June 2021 unless the power conferred by it is exercised before then.</p></content></subsection></section></quotedStructure></mod></p></content></subsection><subsection eId="section-9-6"><num>(6)</num><content><p><mod>In Article 2(2), in the definition of “regulations”, after the words “and paragraph 16 of Schedule A1” (which are repealed by paragraph 3(b) of Schedule 7 to this Act) insert <quotedText>“
and paragraph 61A of Schedule B1
”</quotedText>.</mod></p></content></subsection></section>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-9-1"><num>(1)</num><content><p>The Insolvency (Northern Ireland) Order 1989 (S.I. 1989/2405 (N.I. 19)) is amended as follows.</p></content></subsection>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-9-2"><num>(2)</num><content><p>Schedule B1 (administration) is amended in accordance with subsections (3) to (5).</p></content></subsection>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-9-3"><num>(3)</num><content><p>Paragraph 61 (powers of administrator) becomes sub-paragraph (1) of that paragraph.</p></content></subsection>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" eId="section-9-4"><num>(4)</num><content><p><mod>After that sub-paragraph insert—<quotedStructure startQuote="“" endQuote="”" uk:context="unknown" uk:docName="unknown" ukl:TargetClass="unknown" ukl:TargetSubClass="unknown" ukl:Context="unknown" ukl:Format="default"><subsection><num>(2)</num><content><p>But the power to sell, hire out or otherwise dispose of property is subject to any regulations that may be made under paragraph 61A.</p></content></subsection></quotedStructure></mod></p></content></subsection>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" eId="section-9-5"><num>(5)</num><content><p><mod>After paragraph 61 insert—<quotedStructure startQuote="“" endQuote="”" uk:context="unknown" uk:docName="unknown" ukl:TargetClass="unknown" ukl:TargetSubClass="unknown" ukl:Context="unknown" ukl:Format="default"><section><num>61A</num><heading/><subsection><num>(1)</num><intro><p>Regulations may make provision for—</p></intro><level class="para1"><num>(a)</num><content><p>prohibiting, or</p></content></level><level class="para1"><num>(b)</num><content><p>imposing requirements or conditions in relation to,</p></content></level><wrapUp><p>the disposal, hiring out or sale of property of a company by the administrator to a connected person in circumstances specified in the regulations.</p></wrapUp></subsection><subsection><num>(2)</num><intro><p>Regulations under this paragraph may in particular require the approval of, or provide for the imposition of requirements or conditions by—</p></intro><level class="para1"><num>(a)</num><content><p>creditors of the company,</p></content></level><level class="para1"><num>(b)</num><content><p>the High Court, or</p></content></level><level class="para1"><num>(c)</num><content><p>a person of a description specified in the regulations.</p></content></level></subsection><subsection><num>(3)</num><intro><p>In sub-paragraph (1), “<term refersTo="#term-connected-person">connected person</term>”, in relation to a company, means—</p></intro><level class="para1"><num>(a)</num><content><p>a relevant person in relation to the company, or</p></content></level><level class="para1"><num>(b)</num><content><p>a company connected with the company.</p></content></level></subsection><subsection><num>(4)</num><intro><p>For the purposes of sub-paragraph (3)—</p></intro><level class="para1"><num>(a)</num><intro><p>“<term refersTo="#term-relevant-person">relevant person</term>”, in relation to a company, means—</p></intro><level class="para2"><num>(i)</num><content><p>a director or other officer, or shadow director, of the company;</p></content></level><level class="para2"><num>(ii)</num><content><p>a non-employee associate of such a person;</p></content></level><level class="para2"><num>(iii)</num><content><p>a non-employee associate of the company;</p></content></level></level><level class="para1"><num>(b)</num><content><p>a company is connected with another if any relevant person of one is or has been a relevant person of the other.</p></content></level></subsection><subsection><num>(5)</num><content><p>In sub-paragraph (4), “non-employee associate” of a person means a person who is an associate of that person otherwise than by virtue of
employing or being employed by that person.</p></content></subsection><subsection><num>(6)</num><content><p>Paragraph (11) of Article 4 (extended definition of company) applies for the purposes of sub-paragraphs (3) to (5) as it applies for the purposes of that Article.</p></content></subsection><subsection><num>(7)</num><content><p>Regulations under this paragraph may make incidental, consequential, supplemental and transitional provision.</p></content></subsection><subsection><num>(8)</num><content><p>Regulations may not be made under this paragraph unless a draft of the regulations has been laid before, and approved by a resolution of, the Assembly.</p></content></subsection><subsection><num>(9)</num><content><p>This paragraph expires at the end of June 2021 unless the power conferred by it is exercised before then.</p></content></subsection></section></quotedStructure></mod></p></content></subsection>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-9-6"><num>(6)</num><content><p><mod>In Article 2(2), in the definition of “regulations”, after the words “and paragraph 16 of Schedule A1” (which are repealed by paragraph 3(b) of Schedule 7 to this Act) insert <quotedText>“
and paragraph 61A of Schedule B1
”</quotedText>.</mod></p></content></subsection>
<hcontainer xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" name="crossheading" ukl:Name="Pblock" eId="crossheading-windingup-petitions"><heading><i>Winding-up petitions</i></heading><section eId="section-10"><num>10</num><heading>Winding-up petitions: Great Britain</heading><content><p>Schedule 10 contains temporary provision in relation to winding-up petitions in Great Britain.</p></content></section><section eId="section-11"><num>11</num><heading>Winding-up petitions: Northern Ireland</heading><content><p>Schedule 11 contains temporary provision in relation to winding-up petitions in Northern Ireland.</p></content></section></hcontainer>
<section xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-10"><num>10</num><heading>Winding-up petitions: Great Britain</heading><content><p>Schedule 10 contains temporary provision in relation to winding-up petitions in Great Britain.</p></content></section>
<section xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-11"><num>11</num><heading>Winding-up petitions: Northern Ireland</heading><content><p>Schedule 11 contains temporary provision in relation to winding-up petitions in Northern Ireland.</p></content></section>
<hcontainer xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" name="crossheading" ukl:Name="Pblock" eId="crossheading-wrongful-trading"><heading><i>Wrongful trading</i></heading><section eId="section-12"><num>12</num><heading>Suspension of liability for wrongful trading: Great Britain</heading><subsection eId="section-12-1"><num>(1)</num><content><p>In determining for the purposes of section 214 or 246ZB of the Insolvency Act 1986 (liability of director for wrongful trading) the contribution (if any) to a company's assets that it is proper for a person to make, the court is to assume that the person is not responsible for any worsening of the financial position of the company or its creditors that occurs during the relevant period.</p></content></subsection><subsection eId="section-12-2"><num>(2)</num><intro><p>In this section the “relevant period” is the period which—</p></intro><level class="para1" eId="section-12-2-a"><num>(a)</num><content><p>begins with 1 March 2020, and</p></content></level><level class="para1" eId="section-12-2-b"><num>(b)</num><content><p>ends with 30 September 2020.</p></content></level></subsection><subsection eId="section-12-3"><num>(3)</num><content><p>Subsection (1) does not apply if at any time during the relevant period the company concerned is excluded from being eligible by any of the paragraphs of Schedule ZA1 to the Insolvency Act 1986 listed in subsection (4), as they apply for the purposes of this subsection (see subsection (5)).</p></content></subsection><subsection eId="section-12-4"><num>(4)</num><intro><p>The paragraphs of Schedule ZA1 to the Insolvency Act 1986 are—</p></intro><level class="para1" eId="section-12-4-a"><num>(a)</num><content><p>paragraph 3 (insurance companies),</p></content></level><level class="para1" eId="section-12-4-b"><num>(b)</num><content><p>paragraph 4 (banks),</p></content></level><level class="para1" eId="section-12-4-c"><num>(c)</num><content><p>paragraph 5 (electronic money institutions),</p></content></level><level class="para1" eId="section-12-4-d"><num>(d)</num><content><p>paragraph 6 (investment banks and investment firms),</p></content></level><level class="para1" eId="section-12-4-e"><num>(e)</num><content><p>paragraph 9 (payment institutions),</p></content></level><level class="para1" eId="section-12-4-f"><num>(f)</num><content><p>paragraph 10 (operators of payment systems etc),</p></content></level><level class="para1" eId="section-12-4-g"><num>(g)</num><content><p>paragraph 11 (recognised investment exchanges, clearing houses etc),</p></content></level><level class="para1" eId="section-12-4-h"><num>(h)</num><content><p>paragraph 12 (securitisation companies),</p></content></level><level class="para1" eId="section-12-4-i"><num>(i)</num><content><p>paragraph 13 (parties to capital market arrangements),</p></content></level><level class="para1" eId="section-12-4-j"><num>(j)</num><content><p>paragraph 15 (public-private partnership project companies), and</p></content></level><level class="para1" eId="section-12-4-k"><num>(k)</num><content><p>paragraph 18 (certain overseas companies).</p></content></level></subsection><subsection eId="section-12-5"><num>(5)</num><intro><p>In their application for the purposes of subsection (3)—</p></intro><level class="para1" eId="section-12-5-a"><num>(a)</num><intro><p>each of paragraphs 13 and 15 of Schedule ZA1 to the Insolvency Act 1986 has effect as if in sub-paragraph (1)—</p></intro><level class="para2" eId="section-12-5-a-i"><num>(i)</num><content><p>the words “, on the filing date” were omitted, and</p></content></level><level class="para2" eId="section-12-5-a-ii"><num>(ii)</num><content><p>paragraph (b) were omitted, and</p></content></level></level><level class="para1" eId="section-12-5-b"><num>(b)</num><content><p><mod>paragraph 18 of that Schedule has effect as if for “paragraph 2”, in both places, there were substituted <quotedText>“
paragraphs 2, 7 and 8
”</quotedText>.</mod></p></content></level></subsection><subsection eId="section-12-6"><num>(6)</num><intro><p>Subsection (1) also does not apply if at any time during the relevant period the company concerned—</p></intro><level class="para1" eId="section-12-6-a"><num>(a)</num><content><p>has permission under Part 4A of the Financial Services and Markets Act 2000 to carry on a regulated activity, and</p></content></level><level class="para1" eId="section-12-6-b"><num>(b)</num><content><p>is not subject to a requirement imposed under that Act to refrain from holding money for clients.</p></content></level></subsection><subsection eId="section-12-7"><num>(7)</num><intro><p>This section has effect—</p></intro><level class="para1" eId="section-12-7-a"><num>(a)</num><content><p>in so far as it relates to section 214 of the Insolvency Act 1986, as if it were contained in Part 4 of that Act, and</p></content></level><level class="para1" eId="section-12-7-b"><num>(b)</num><content><p>in so far as it relates to section 246ZB of the Insolvency Act 1986, as if it were contained in Part 6 of that Act.</p></content></level></subsection><subsection eId="section-12-8"><num>(8)</num><intro><p>But this section does not have effect in relation to the following bodies (which are bodies to which provisions contained in Parts 4 and 6 of the Insolvency Act 1986 apply)—</p></intro><level class="para1" eId="section-12-8-a"><num>(a)</num><content><p>a society that is registered within the meaning of the Friendly Societies Act 1974 and that at any time during the relevant period carries on the regulated activity of effecting or carrying out contracts of insurance;</p></content></level><level class="para1" eId="section-12-8-b"><num>(b)</num><content><p>a building society within the meaning of the Building Societies Act 1986;</p></content></level><level class="para1" eId="section-12-8-c"><num>(c)</num><content><p>a society that is incorporated under the Friendly Societies Act 1992;</p></content></level><level class="para1" eId="section-12-8-d"><num>(d)</num><content><p>a registered society within the meaning of the Co-operative and Community Benefit Societies Act 2014 that is registered under that Act as a credit union;</p></content></level><level class="para1" eId="section-12-8-e"><num>(e)</num><content><p>a registered society within the meaning of the Co-operative and Community Benefit Societies Act 2014 that at any time during the relevant period carries on the regulated activity of effecting or carrying out contracts of insurance.</p></content></level></subsection><subsection eId="section-12-9"><num>(9)</num><content><p>In this section “<term refersTo="#term-regulated-activity" eId="term-regulated-activity">regulated activity</term>” has the meaning given by section 22 of the Financial Services and Markets Act 2000, taken with Schedule 2 to that Act and any order under that section.</p></content></subsection></section><section eId="section-13"><num>13</num><heading>Suspension of liability for wrongful trading: Northern Ireland</heading><subsection eId="section-13-1"><num>(1)</num><content><p>In determining for the purposes of Article 178 of the Insolvency (Northern Ireland) Order 1989 (S.I. 1989/2405 (N.I. 19)) (liability of director for wrongful trading) the contribution (if any) to a company's assets that it is proper for a person to make, the High Court is to assume that the person is not responsible for any worsening of the financial position of the company or its creditors that occurs during the relevant period.</p></content></subsection><subsection eId="section-13-2"><num>(2)</num><intro><p>In this section the “relevant period” is the period which—</p></intro><level class="para1" eId="section-13-2-a"><num>(a)</num><content><p>begins with 1 March 2020, and</p></content></level><level class="para1" eId="section-13-2-b"><num>(b)</num><content><p>ends with 30 September 2020.</p></content></level></subsection><subsection eId="section-13-3"><num>(3)</num><content><p>Subsection (1) does not apply if at any time during the relevant period the company concerned is excluded from being eligible by any of the paragraphs of Schedule ZA1 to the Insolvency (Northern Ireland) Order 1989 listed in subsection (4), as they apply for the purposes of this subsection (see subsection (5)).</p></content></subsection><subsection eId="section-13-4"><num>(4)</num><intro><p>The paragraphs of Schedule ZA1 to the Insolvency (Northern Ireland) Order 1989 are—</p></intro><level class="para1" eId="section-13-4-a"><num>(a)</num><content><p>paragraph 3 (insurance companies),</p></content></level><level class="para1" eId="section-13-4-b"><num>(b)</num><content><p>paragraph 4 (banks),</p></content></level><level class="para1" eId="section-13-4-c"><num>(c)</num><content><p>paragraph 5 (electronic money institutions),</p></content></level><level class="para1" eId="section-13-4-d"><num>(d)</num><content><p>paragraph 6 (investment banks and investment firms),</p></content></level><level class="para1" eId="section-13-4-e"><num>(e)</num><content><p>paragraph 9 (payment institutions),</p></content></level><level class="para1" eId="section-13-4-f"><num>(f)</num><content><p>paragraph 10 (operators of payment systems etc),</p></content></level><level class="para1" eId="section-13-4-g"><num>(g)</num><content><p>paragraph 11 (recognised investment exchanges, clearing houses etc),</p></content></level><level class="para1" eId="section-13-4-h"><num>(h)</num><content><p>paragraph 12 (securitisation companies),</p></content></level><level class="para1" eId="section-13-4-i"><num>(i)</num><content><p>paragraph 13 (parties to capital market arrangements),</p></content></level><level class="para1" eId="section-13-4-j"><num>(j)</num><content><p>paragraph 15 (public-private partnership project companies), and</p></content></level><level class="para1" eId="section-13-4-k"><num>(k)</num><content><p>paragraph 18 (certain overseas companies).</p></content></level></subsection><subsection eId="section-13-5"><num>(5)</num><intro><p>In their application for the purposes of subsection (3)—</p></intro><level class="para1" eId="section-13-5-a"><num>(a)</num><intro><p>each of paragraphs 13 and 15 of Schedule ZA1 to the Insolvency (Northern Ireland) Order 1989 has effect as if in sub-paragraph (1)—</p></intro><level class="para2" eId="section-13-5-a-i"><num>(i)</num><content><p>the words “, on the filing date” were omitted, and</p></content></level><level class="para2" eId="section-13-5-a-ii"><num>(ii)</num><content><p>paragraph (b) were omitted, and</p></content></level></level><level class="para1" eId="section-13-5-b"><num>(b)</num><content><p><mod>paragraph 18 of that Schedule has effect as if for “paragraph 2”, in both places, there were substituted <quotedText>“
paragraphs 2, 7 and 8
”</quotedText>.</mod></p></content></level></subsection><subsection eId="section-13-6"><num>(6)</num><intro><p>Subsection (1) also does not apply if at any time during the relevant period the company concerned—</p></intro><level class="para1" eId="section-13-6-a"><num>(a)</num><content><p>has permission under Part 4A of the Financial Services and Markets Act 2000 to carry on a regulated activity, and</p></content></level><level class="para1" eId="section-13-6-b"><num>(b)</num><content><p>is not subject to a requirement imposed under that Act to refrain from holding money for clients.</p></content></level></subsection><subsection eId="section-13-7"><num>(7)</num><content><p>This section has effect as if it were contained in Part 5 of the Insolvency (Northern Ireland) Order 1989.</p></content></subsection><subsection eId="section-13-8"><num>(8)</num><intro><p>But this section does not have effect in relation to the following bodies (which are bodies to which provisions contained in Part 5 of the Insolvency (Northern Ireland) Order 1989 apply)—</p></intro><level class="para1" eId="section-13-8-a"><num>(a)</num><content><p>a registered society within the meaning of the Co-operative and Community Benefit Societies Act (Northern Ireland) 1969 (c. 24 (N.I.)) that at any time during the relevant period carries on the regulated activity of effecting or carrying out contracts of insurance;</p></content></level><level class="para1" eId="section-13-8-b"><num>(b)</num><content><p>a society that is registered within the meaning of the Friendly Societies Act 1974 and that at any time during the relevant period carries on the regulated activity of effecting or carrying out contracts of insurance;</p></content></level><level class="para1" eId="section-13-8-c"><num>(c)</num><content><p>a building society within the meaning of the Building Societies Act 1986;</p></content></level><level class="para1" eId="section-13-8-d"><num>(d)</num><content><p>a credit union within the meaning of the Credit Unions (Northern Ireland) Order 1985 (S.I. 1985/1205 (N.I. 12));</p></content></level><level class="para1" eId="section-13-8-e"><num>(e)</num><content><p>a society that is incorporated under the Friendly Societies Act 1992.</p></content></level></subsection><subsection eId="section-13-9"><num>(9)</num><content><p>In this section “<term refersTo="#term-regulated-activity" eId="term-regulated-activity">regulated activity</term>” has the meaning given by section 22 of the Financial Services and Markets Act 2000, taken with Schedule 2 to that Act and any order under that section.</p></content></subsection></section></hcontainer>
<section xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-12"><num>12</num><heading>Suspension of liability for wrongful trading: Great Britain</heading><subsection eId="section-12-1"><num>(1)</num><content><p>In determining for the purposes of section 214 or 246ZB of the Insolvency Act 1986 (liability of director for wrongful trading) the contribution (if any) to a company's assets that it is proper for a person to make, the court is to assume that the person is not responsible for any worsening of the financial position of the company or its creditors that occurs during the relevant period.</p></content></subsection><subsection eId="section-12-2"><num>(2)</num><intro><p>In this section the “relevant period” is the period which—</p></intro><level class="para1" eId="section-12-2-a"><num>(a)</num><content><p>begins with 1 March 2020, and</p></content></level><level class="para1" eId="section-12-2-b"><num>(b)</num><content><p>ends with 30 September 2020.</p></content></level></subsection><subsection eId="section-12-3"><num>(3)</num><content><p>Subsection (1) does not apply if at any time during the relevant period the company concerned is excluded from being eligible by any of the paragraphs of Schedule ZA1 to the Insolvency Act 1986 listed in subsection (4), as they apply for the purposes of this subsection (see subsection (5)).</p></content></subsection><subsection eId="section-12-4"><num>(4)</num><intro><p>The paragraphs of Schedule ZA1 to the Insolvency Act 1986 are—</p></intro><level class="para1" eId="section-12-4-a"><num>(a)</num><content><p>paragraph 3 (insurance companies),</p></content></level><level class="para1" eId="section-12-4-b"><num>(b)</num><content><p>paragraph 4 (banks),</p></content></level><level class="para1" eId="section-12-4-c"><num>(c)</num><content><p>paragraph 5 (electronic money institutions),</p></content></level><level class="para1" eId="section-12-4-d"><num>(d)</num><content><p>paragraph 6 (investment banks and investment firms),</p></content></level><level class="para1" eId="section-12-4-e"><num>(e)</num><content><p>paragraph 9 (payment institutions),</p></content></level><level class="para1" eId="section-12-4-f"><num>(f)</num><content><p>paragraph 10 (operators of payment systems etc),</p></content></level><level class="para1" eId="section-12-4-g"><num>(g)</num><content><p>paragraph 11 (recognised investment exchanges, clearing houses etc),</p></content></level><level class="para1" eId="section-12-4-h"><num>(h)</num><content><p>paragraph 12 (securitisation companies),</p></content></level><level class="para1" eId="section-12-4-i"><num>(i)</num><content><p>paragraph 13 (parties to capital market arrangements),</p></content></level><level class="para1" eId="section-12-4-j"><num>(j)</num><content><p>paragraph 15 (public-private partnership project companies), and</p></content></level><level class="para1" eId="section-12-4-k"><num>(k)</num><content><p>paragraph 18 (certain overseas companies).</p></content></level></subsection><subsection eId="section-12-5"><num>(5)</num><intro><p>In their application for the purposes of subsection (3)—</p></intro><level class="para1" eId="section-12-5-a"><num>(a)</num><intro><p>each of paragraphs 13 and 15 of Schedule ZA1 to the Insolvency Act 1986 has effect as if in sub-paragraph (1)—</p></intro><level class="para2" eId="section-12-5-a-i"><num>(i)</num><content><p>the words “, on the filing date” were omitted, and</p></content></level><level class="para2" eId="section-12-5-a-ii"><num>(ii)</num><content><p>paragraph (b) were omitted, and</p></content></level></level><level class="para1" eId="section-12-5-b"><num>(b)</num><content><p><mod>paragraph 18 of that Schedule has effect as if for “paragraph 2”, in both places, there were substituted <quotedText>“
paragraphs 2, 7 and 8
”</quotedText>.</mod></p></content></level></subsection><subsection eId="section-12-6"><num>(6)</num><intro><p>Subsection (1) also does not apply if at any time during the relevant period the company concerned—</p></intro><level class="para1" eId="section-12-6-a"><num>(a)</num><content><p>has permission under Part 4A of the Financial Services and Markets Act 2000 to carry on a regulated activity, and</p></content></level><level class="para1" eId="section-12-6-b"><num>(b)</num><content><p>is not subject to a requirement imposed under that Act to refrain from holding money for clients.</p></content></level></subsection><subsection eId="section-12-7"><num>(7)</num><intro><p>This section has effect—</p></intro><level class="para1" eId="section-12-7-a"><num>(a)</num><content><p>in so far as it relates to section 214 of the Insolvency Act 1986, as if it were contained in Part 4 of that Act, and</p></content></level><level class="para1" eId="section-12-7-b"><num>(b)</num><content><p>in so far as it relates to section 246ZB of the Insolvency Act 1986, as if it were contained in Part 6 of that Act.</p></content></level></subsection><subsection eId="section-12-8"><num>(8)</num><intro><p>But this section does not have effect in relation to the following bodies (which are bodies to which provisions contained in Parts 4 and 6 of the Insolvency Act 1986 apply)—</p></intro><level class="para1" eId="section-12-8-a"><num>(a)</num><content><p>a society that is registered within the meaning of the Friendly Societies Act 1974 and that at any time during the relevant period carries on the regulated activity of effecting or carrying out contracts of insurance;</p></content></level><level class="para1" eId="section-12-8-b"><num>(b)</num><content><p>a building society within the meaning of the Building Societies Act 1986;</p></content></level><level class="para1" eId="section-12-8-c"><num>(c)</num><content><p>a society that is incorporated under the Friendly Societies Act 1992;</p></content></level><level class="para1" eId="section-12-8-d"><num>(d)</num><content><p>a registered society within the meaning of the Co-operative and Community Benefit Societies Act 2014 that is registered under that Act as a credit union;</p></content></level><level class="para1" eId="section-12-8-e"><num>(e)</num><content><p>a registered society within the meaning of the Co-operative and Community Benefit Societies Act 2014 that at any time during the relevant period carries on the regulated activity of effecting or carrying out contracts of insurance.</p></content></level></subsection><subsection eId="section-12-9"><num>(9)</num><content><p>In this section “<term refersTo="#term-regulated-activity" eId="term-regulated-activity">regulated activity</term>” has the meaning given by section 22 of the Financial Services and Markets Act 2000, taken with Schedule 2 to that Act and any order under that section.</p></content></subsection></section>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-12-1"><num>(1)</num><content><p>In determining for the purposes of section 214 or 246ZB of the Insolvency Act 1986 (liability of director for wrongful trading) the contribution (if any) to a company's assets that it is proper for a person to make, the court is to assume that the person is not responsible for any worsening of the financial position of the company or its creditors that occurs during the relevant period.</p></content></subsection>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-12-2"><num>(2)</num><intro><p>In this section the “relevant period” is the period which—</p></intro><level class="para1" eId="section-12-2-a"><num>(a)</num><content><p>begins with 1 March 2020, and</p></content></level><level class="para1" eId="section-12-2-b"><num>(b)</num><content><p>ends with 30 September 2020.</p></content></level></subsection>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-12-2-a"><num>(a)</num><content><p>begins with 1 March 2020, and</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-12-2-b"><num>(b)</num><content><p>ends with 30 September 2020.</p></content></level>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-12-3"><num>(3)</num><content><p>Subsection (1) does not apply if at any time during the relevant period the company concerned is excluded from being eligible by any of the paragraphs of Schedule ZA1 to the Insolvency Act 1986 listed in subsection (4), as they apply for the purposes of this subsection (see subsection (5)).</p></content></subsection>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-12-4"><num>(4)</num><intro><p>The paragraphs of Schedule ZA1 to the Insolvency Act 1986 are—</p></intro><level class="para1" eId="section-12-4-a"><num>(a)</num><content><p>paragraph 3 (insurance companies),</p></content></level><level class="para1" eId="section-12-4-b"><num>(b)</num><content><p>paragraph 4 (banks),</p></content></level><level class="para1" eId="section-12-4-c"><num>(c)</num><content><p>paragraph 5 (electronic money institutions),</p></content></level><level class="para1" eId="section-12-4-d"><num>(d)</num><content><p>paragraph 6 (investment banks and investment firms),</p></content></level><level class="para1" eId="section-12-4-e"><num>(e)</num><content><p>paragraph 9 (payment institutions),</p></content></level><level class="para1" eId="section-12-4-f"><num>(f)</num><content><p>paragraph 10 (operators of payment systems etc),</p></content></level><level class="para1" eId="section-12-4-g"><num>(g)</num><content><p>paragraph 11 (recognised investment exchanges, clearing houses etc),</p></content></level><level class="para1" eId="section-12-4-h"><num>(h)</num><content><p>paragraph 12 (securitisation companies),</p></content></level><level class="para1" eId="section-12-4-i"><num>(i)</num><content><p>paragraph 13 (parties to capital market arrangements),</p></content></level><level class="para1" eId="section-12-4-j"><num>(j)</num><content><p>paragraph 15 (public-private partnership project companies), and</p></content></level><level class="para1" eId="section-12-4-k"><num>(k)</num><content><p>paragraph 18 (certain overseas companies).</p></content></level></subsection>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-12-4-a"><num>(a)</num><content><p>paragraph 3 (insurance companies),</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-12-4-b"><num>(b)</num><content><p>paragraph 4 (banks),</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-12-4-c"><num>(c)</num><content><p>paragraph 5 (electronic money institutions),</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-12-4-d"><num>(d)</num><content><p>paragraph 6 (investment banks and investment firms),</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-12-4-e"><num>(e)</num><content><p>paragraph 9 (payment institutions),</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-12-4-f"><num>(f)</num><content><p>paragraph 10 (operators of payment systems etc),</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-12-4-g"><num>(g)</num><content><p>paragraph 11 (recognised investment exchanges, clearing houses etc),</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-12-4-h"><num>(h)</num><content><p>paragraph 12 (securitisation companies),</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-12-4-i"><num>(i)</num><content><p>paragraph 13 (parties to capital market arrangements),</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-12-4-j"><num>(j)</num><content><p>paragraph 15 (public-private partnership project companies), and</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-12-4-k"><num>(k)</num><content><p>paragraph 18 (certain overseas companies).</p></content></level>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-12-5"><num>(5)</num><intro><p>In their application for the purposes of subsection (3)—</p></intro><level class="para1" eId="section-12-5-a"><num>(a)</num><intro><p>each of paragraphs 13 and 15 of Schedule ZA1 to the Insolvency Act 1986 has effect as if in sub-paragraph (1)—</p></intro><level class="para2" eId="section-12-5-a-i"><num>(i)</num><content><p>the words “, on the filing date” were omitted, and</p></content></level><level class="para2" eId="section-12-5-a-ii"><num>(ii)</num><content><p>paragraph (b) were omitted, and</p></content></level></level><level class="para1" eId="section-12-5-b"><num>(b)</num><content><p><mod>paragraph 18 of that Schedule has effect as if for “paragraph 2”, in both places, there were substituted <quotedText>“
paragraphs 2, 7 and 8
”</quotedText>.</mod></p></content></level></subsection>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-12-5-a"><num>(a)</num><intro><p>each of paragraphs 13 and 15 of Schedule ZA1 to the Insolvency Act 1986 has effect as if in sub-paragraph (1)—</p></intro><level class="para2" eId="section-12-5-a-i"><num>(i)</num><content><p>the words “, on the filing date” were omitted, and</p></content></level><level class="para2" eId="section-12-5-a-ii"><num>(ii)</num><content><p>paragraph (b) were omitted, and</p></content></level></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para2" eId="section-12-5-a-i"><num>(i)</num><content><p>the words “, on the filing date” were omitted, and</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para2" eId="section-12-5-a-ii"><num>(ii)</num><content><p>paragraph (b) were omitted, and</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-12-5-b"><num>(b)</num><content><p><mod>paragraph 18 of that Schedule has effect as if for “paragraph 2”, in both places, there were substituted <quotedText>“
paragraphs 2, 7 and 8
”</quotedText>.</mod></p></content></level>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-12-6"><num>(6)</num><intro><p>Subsection (1) also does not apply if at any time during the relevant period the company concerned—</p></intro><level class="para1" eId="section-12-6-a"><num>(a)</num><content><p>has permission under Part 4A of the Financial Services and Markets Act 2000 to carry on a regulated activity, and</p></content></level><level class="para1" eId="section-12-6-b"><num>(b)</num><content><p>is not subject to a requirement imposed under that Act to refrain from holding money for clients.</p></content></level></subsection>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-12-6-a"><num>(a)</num><content><p>has permission under Part 4A of the Financial Services and Markets Act 2000 to carry on a regulated activity, and</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-12-6-b"><num>(b)</num><content><p>is not subject to a requirement imposed under that Act to refrain from holding money for clients.</p></content></level>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-12-7"><num>(7)</num><intro><p>This section has effect—</p></intro><level class="para1" eId="section-12-7-a"><num>(a)</num><content><p>in so far as it relates to section 214 of the Insolvency Act 1986, as if it were contained in Part 4 of that Act, and</p></content></level><level class="para1" eId="section-12-7-b"><num>(b)</num><content><p>in so far as it relates to section 246ZB of the Insolvency Act 1986, as if it were contained in Part 6 of that Act.</p></content></level></subsection>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-12-7-a"><num>(a)</num><content><p>in so far as it relates to section 214 of the Insolvency Act 1986, as if it were contained in Part 4 of that Act, and</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-12-7-b"><num>(b)</num><content><p>in so far as it relates to section 246ZB of the Insolvency Act 1986, as if it were contained in Part 6 of that Act.</p></content></level>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-12-8"><num>(8)</num><intro><p>But this section does not have effect in relation to the following bodies (which are bodies to which provisions contained in Parts 4 and 6 of the Insolvency Act 1986 apply)—</p></intro><level class="para1" eId="section-12-8-a"><num>(a)</num><content><p>a society that is registered within the meaning of the Friendly Societies Act 1974 and that at any time during the relevant period carries on the regulated activity of effecting or carrying out contracts of insurance;</p></content></level><level class="para1" eId="section-12-8-b"><num>(b)</num><content><p>a building society within the meaning of the Building Societies Act 1986;</p></content></level><level class="para1" eId="section-12-8-c"><num>(c)</num><content><p>a society that is incorporated under the Friendly Societies Act 1992;</p></content></level><level class="para1" eId="section-12-8-d"><num>(d)</num><content><p>a registered society within the meaning of the Co-operative and Community Benefit Societies Act 2014 that is registered under that Act as a credit union;</p></content></level><level class="para1" eId="section-12-8-e"><num>(e)</num><content><p>a registered society within the meaning of the Co-operative and Community Benefit Societies Act 2014 that at any time during the relevant period carries on the regulated activity of effecting or carrying out contracts of insurance.</p></content></level></subsection>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-12-8-a"><num>(a)</num><content><p>a society that is registered within the meaning of the Friendly Societies Act 1974 and that at any time during the relevant period carries on the regulated activity of effecting or carrying out contracts of insurance;</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-12-8-b"><num>(b)</num><content><p>a building society within the meaning of the Building Societies Act 1986;</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-12-8-c"><num>(c)</num><content><p>a society that is incorporated under the Friendly Societies Act 1992;</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-12-8-d"><num>(d)</num><content><p>a registered society within the meaning of the Co-operative and Community Benefit Societies Act 2014 that is registered under that Act as a credit union;</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-12-8-e"><num>(e)</num><content><p>a registered society within the meaning of the Co-operative and Community Benefit Societies Act 2014 that at any time during the relevant period carries on the regulated activity of effecting or carrying out contracts of insurance.</p></content></level>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-12-9"><num>(9)</num><content><p>In this section “<term refersTo="#term-regulated-activity" eId="term-regulated-activity">regulated activity</term>” has the meaning given by section 22 of the Financial Services and Markets Act 2000, taken with Schedule 2 to that Act and any order under that section.</p></content></subsection>
<section xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-13"><num>13</num><heading>Suspension of liability for wrongful trading: Northern Ireland</heading><subsection eId="section-13-1"><num>(1)</num><content><p>In determining for the purposes of Article 178 of the Insolvency (Northern Ireland) Order 1989 (S.I. 1989/2405 (N.I. 19)) (liability of director for wrongful trading) the contribution (if any) to a company's assets that it is proper for a person to make, the High Court is to assume that the person is not responsible for any worsening of the financial position of the company or its creditors that occurs during the relevant period.</p></content></subsection><subsection eId="section-13-2"><num>(2)</num><intro><p>In this section the “relevant period” is the period which—</p></intro><level class="para1" eId="section-13-2-a"><num>(a)</num><content><p>begins with 1 March 2020, and</p></content></level><level class="para1" eId="section-13-2-b"><num>(b)</num><content><p>ends with 30 September 2020.</p></content></level></subsection><subsection eId="section-13-3"><num>(3)</num><content><p>Subsection (1) does not apply if at any time during the relevant period the company concerned is excluded from being eligible by any of the paragraphs of Schedule ZA1 to the Insolvency (Northern Ireland) Order 1989 listed in subsection (4), as they apply for the purposes of this subsection (see subsection (5)).</p></content></subsection><subsection eId="section-13-4"><num>(4)</num><intro><p>The paragraphs of Schedule ZA1 to the Insolvency (Northern Ireland) Order 1989 are—</p></intro><level class="para1" eId="section-13-4-a"><num>(a)</num><content><p>paragraph 3 (insurance companies),</p></content></level><level class="para1" eId="section-13-4-b"><num>(b)</num><content><p>paragraph 4 (banks),</p></content></level><level class="para1" eId="section-13-4-c"><num>(c)</num><content><p>paragraph 5 (electronic money institutions),</p></content></level><level class="para1" eId="section-13-4-d"><num>(d)</num><content><p>paragraph 6 (investment banks and investment firms),</p></content></level><level class="para1" eId="section-13-4-e"><num>(e)</num><content><p>paragraph 9 (payment institutions),</p></content></level><level class="para1" eId="section-13-4-f"><num>(f)</num><content><p>paragraph 10 (operators of payment systems etc),</p></content></level><level class="para1" eId="section-13-4-g"><num>(g)</num><content><p>paragraph 11 (recognised investment exchanges, clearing houses etc),</p></content></level><level class="para1" eId="section-13-4-h"><num>(h)</num><content><p>paragraph 12 (securitisation companies),</p></content></level><level class="para1" eId="section-13-4-i"><num>(i)</num><content><p>paragraph 13 (parties to capital market arrangements),</p></content></level><level class="para1" eId="section-13-4-j"><num>(j)</num><content><p>paragraph 15 (public-private partnership project companies), and</p></content></level><level class="para1" eId="section-13-4-k"><num>(k)</num><content><p>paragraph 18 (certain overseas companies).</p></content></level></subsection><subsection eId="section-13-5"><num>(5)</num><intro><p>In their application for the purposes of subsection (3)—</p></intro><level class="para1" eId="section-13-5-a"><num>(a)</num><intro><p>each of paragraphs 13 and 15 of Schedule ZA1 to the Insolvency (Northern Ireland) Order 1989 has effect as if in sub-paragraph (1)—</p></intro><level class="para2" eId="section-13-5-a-i"><num>(i)</num><content><p>the words “, on the filing date” were omitted, and</p></content></level><level class="para2" eId="section-13-5-a-ii"><num>(ii)</num><content><p>paragraph (b) were omitted, and</p></content></level></level><level class="para1" eId="section-13-5-b"><num>(b)</num><content><p><mod>paragraph 18 of that Schedule has effect as if for “paragraph 2”, in both places, there were substituted <quotedText>“
paragraphs 2, 7 and 8
”</quotedText>.</mod></p></content></level></subsection><subsection eId="section-13-6"><num>(6)</num><intro><p>Subsection (1) also does not apply if at any time during the relevant period the company concerned—</p></intro><level class="para1" eId="section-13-6-a"><num>(a)</num><content><p>has permission under Part 4A of the Financial Services and Markets Act 2000 to carry on a regulated activity, and</p></content></level><level class="para1" eId="section-13-6-b"><num>(b)</num><content><p>is not subject to a requirement imposed under that Act to refrain from holding money for clients.</p></content></level></subsection><subsection eId="section-13-7"><num>(7)</num><content><p>This section has effect as if it were contained in Part 5 of the Insolvency (Northern Ireland) Order 1989.</p></content></subsection><subsection eId="section-13-8"><num>(8)</num><intro><p>But this section does not have effect in relation to the following bodies (which are bodies to which provisions contained in Part 5 of the Insolvency (Northern Ireland) Order 1989 apply)—</p></intro><level class="para1" eId="section-13-8-a"><num>(a)</num><content><p>a registered society within the meaning of the Co-operative and Community Benefit Societies Act (Northern Ireland) 1969 (c. 24 (N.I.)) that at any time during the relevant period carries on the regulated activity of effecting or carrying out contracts of insurance;</p></content></level><level class="para1" eId="section-13-8-b"><num>(b)</num><content><p>a society that is registered within the meaning of the Friendly Societies Act 1974 and that at any time during the relevant period carries on the regulated activity of effecting or carrying out contracts of insurance;</p></content></level><level class="para1" eId="section-13-8-c"><num>(c)</num><content><p>a building society within the meaning of the Building Societies Act 1986;</p></content></level><level class="para1" eId="section-13-8-d"><num>(d)</num><content><p>a credit union within the meaning of the Credit Unions (Northern Ireland) Order 1985 (S.I. 1985/1205 (N.I. 12));</p></content></level><level class="para1" eId="section-13-8-e"><num>(e)</num><content><p>a society that is incorporated under the Friendly Societies Act 1992.</p></content></level></subsection><subsection eId="section-13-9"><num>(9)</num><content><p>In this section “<term refersTo="#term-regulated-activity" eId="term-regulated-activity">regulated activity</term>” has the meaning given by section 22 of the Financial Services and Markets Act 2000, taken with Schedule 2 to that Act and any order under that section.</p></content></subsection></section>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-13-1"><num>(1)</num><content><p>In determining for the purposes of Article 178 of the Insolvency (Northern Ireland) Order 1989 (S.I. 1989/2405 (N.I. 19)) (liability of director for wrongful trading) the contribution (if any) to a company's assets that it is proper for a person to make, the High Court is to assume that the person is not responsible for any worsening of the financial position of the company or its creditors that occurs during the relevant period.</p></content></subsection>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-13-2"><num>(2)</num><intro><p>In this section the “relevant period” is the period which—</p></intro><level class="para1" eId="section-13-2-a"><num>(a)</num><content><p>begins with 1 March 2020, and</p></content></level><level class="para1" eId="section-13-2-b"><num>(b)</num><content><p>ends with 30 September 2020.</p></content></level></subsection>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-13-2-a"><num>(a)</num><content><p>begins with 1 March 2020, and</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-13-2-b"><num>(b)</num><content><p>ends with 30 September 2020.</p></content></level>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-13-3"><num>(3)</num><content><p>Subsection (1) does not apply if at any time during the relevant period the company concerned is excluded from being eligible by any of the paragraphs of Schedule ZA1 to the Insolvency (Northern Ireland) Order 1989 listed in subsection (4), as they apply for the purposes of this subsection (see subsection (5)).</p></content></subsection>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-13-4"><num>(4)</num><intro><p>The paragraphs of Schedule ZA1 to the Insolvency (Northern Ireland) Order 1989 are—</p></intro><level class="para1" eId="section-13-4-a"><num>(a)</num><content><p>paragraph 3 (insurance companies),</p></content></level><level class="para1" eId="section-13-4-b"><num>(b)</num><content><p>paragraph 4 (banks),</p></content></level><level class="para1" eId="section-13-4-c"><num>(c)</num><content><p>paragraph 5 (electronic money institutions),</p></content></level><level class="para1" eId="section-13-4-d"><num>(d)</num><content><p>paragraph 6 (investment banks and investment firms),</p></content></level><level class="para1" eId="section-13-4-e"><num>(e)</num><content><p>paragraph 9 (payment institutions),</p></content></level><level class="para1" eId="section-13-4-f"><num>(f)</num><content><p>paragraph 10 (operators of payment systems etc),</p></content></level><level class="para1" eId="section-13-4-g"><num>(g)</num><content><p>paragraph 11 (recognised investment exchanges, clearing houses etc),</p></content></level><level class="para1" eId="section-13-4-h"><num>(h)</num><content><p>paragraph 12 (securitisation companies),</p></content></level><level class="para1" eId="section-13-4-i"><num>(i)</num><content><p>paragraph 13 (parties to capital market arrangements),</p></content></level><level class="para1" eId="section-13-4-j"><num>(j)</num><content><p>paragraph 15 (public-private partnership project companies), and</p></content></level><level class="para1" eId="section-13-4-k"><num>(k)</num><content><p>paragraph 18 (certain overseas companies).</p></content></level></subsection>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-13-4-a"><num>(a)</num><content><p>paragraph 3 (insurance companies),</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-13-4-b"><num>(b)</num><content><p>paragraph 4 (banks),</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-13-4-c"><num>(c)</num><content><p>paragraph 5 (electronic money institutions),</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-13-4-d"><num>(d)</num><content><p>paragraph 6 (investment banks and investment firms),</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-13-4-e"><num>(e)</num><content><p>paragraph 9 (payment institutions),</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-13-4-f"><num>(f)</num><content><p>paragraph 10 (operators of payment systems etc),</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-13-4-g"><num>(g)</num><content><p>paragraph 11 (recognised investment exchanges, clearing houses etc),</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-13-4-h"><num>(h)</num><content><p>paragraph 12 (securitisation companies),</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-13-4-i"><num>(i)</num><content><p>paragraph 13 (parties to capital market arrangements),</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-13-4-j"><num>(j)</num><content><p>paragraph 15 (public-private partnership project companies), and</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-13-4-k"><num>(k)</num><content><p>paragraph 18 (certain overseas companies).</p></content></level>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-13-5"><num>(5)</num><intro><p>In their application for the purposes of subsection (3)—</p></intro><level class="para1" eId="section-13-5-a"><num>(a)</num><intro><p>each of paragraphs 13 and 15 of Schedule ZA1 to the Insolvency (Northern Ireland) Order 1989 has effect as if in sub-paragraph (1)—</p></intro><level class="para2" eId="section-13-5-a-i"><num>(i)</num><content><p>the words “, on the filing date” were omitted, and</p></content></level><level class="para2" eId="section-13-5-a-ii"><num>(ii)</num><content><p>paragraph (b) were omitted, and</p></content></level></level><level class="para1" eId="section-13-5-b"><num>(b)</num><content><p><mod>paragraph 18 of that Schedule has effect as if for “paragraph 2”, in both places, there were substituted <quotedText>“
paragraphs 2, 7 and 8
”</quotedText>.</mod></p></content></level></subsection>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-13-5-a"><num>(a)</num><intro><p>each of paragraphs 13 and 15 of Schedule ZA1 to the Insolvency (Northern Ireland) Order 1989 has effect as if in sub-paragraph (1)—</p></intro><level class="para2" eId="section-13-5-a-i"><num>(i)</num><content><p>the words “, on the filing date” were omitted, and</p></content></level><level class="para2" eId="section-13-5-a-ii"><num>(ii)</num><content><p>paragraph (b) were omitted, and</p></content></level></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para2" eId="section-13-5-a-i"><num>(i)</num><content><p>the words “, on the filing date” were omitted, and</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para2" eId="section-13-5-a-ii"><num>(ii)</num><content><p>paragraph (b) were omitted, and</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-13-5-b"><num>(b)</num><content><p><mod>paragraph 18 of that Schedule has effect as if for “paragraph 2”, in both places, there were substituted <quotedText>“
paragraphs 2, 7 and 8
”</quotedText>.</mod></p></content></level>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-13-6"><num>(6)</num><intro><p>Subsection (1) also does not apply if at any time during the relevant period the company concerned—</p></intro><level class="para1" eId="section-13-6-a"><num>(a)</num><content><p>has permission under Part 4A of the Financial Services and Markets Act 2000 to carry on a regulated activity, and</p></content></level><level class="para1" eId="section-13-6-b"><num>(b)</num><content><p>is not subject to a requirement imposed under that Act to refrain from holding money for clients.</p></content></level></subsection>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-13-6-a"><num>(a)</num><content><p>has permission under Part 4A of the Financial Services and Markets Act 2000 to carry on a regulated activity, and</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-13-6-b"><num>(b)</num><content><p>is not subject to a requirement imposed under that Act to refrain from holding money for clients.</p></content></level>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-13-7"><num>(7)</num><content><p>This section has effect as if it were contained in Part 5 of the Insolvency (Northern Ireland) Order 1989.</p></content></subsection>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-13-8"><num>(8)</num><intro><p>But this section does not have effect in relation to the following bodies (which are bodies to which provisions contained in Part 5 of the Insolvency (Northern Ireland) Order 1989 apply)—</p></intro><level class="para1" eId="section-13-8-a"><num>(a)</num><content><p>a registered society within the meaning of the Co-operative and Community Benefit Societies Act (Northern Ireland) 1969 (c. 24 (N.I.)) that at any time during the relevant period carries on the regulated activity of effecting or carrying out contracts of insurance;</p></content></level><level class="para1" eId="section-13-8-b"><num>(b)</num><content><p>a society that is registered within the meaning of the Friendly Societies Act 1974 and that at any time during the relevant period carries on the regulated activity of effecting or carrying out contracts of insurance;</p></content></level><level class="para1" eId="section-13-8-c"><num>(c)</num><content><p>a building society within the meaning of the Building Societies Act 1986;</p></content></level><level class="para1" eId="section-13-8-d"><num>(d)</num><content><p>a credit union within the meaning of the Credit Unions (Northern Ireland) Order 1985 (S.I. 1985/1205 (N.I. 12));</p></content></level><level class="para1" eId="section-13-8-e"><num>(e)</num><content><p>a society that is incorporated under the Friendly Societies Act 1992.</p></content></level></subsection>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-13-8-a"><num>(a)</num><content><p>a registered society within the meaning of the Co-operative and Community Benefit Societies Act (Northern Ireland) 1969 (c. 24 (N.I.)) that at any time during the relevant period carries on the regulated activity of effecting or carrying out contracts of insurance;</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-13-8-b"><num>(b)</num><content><p>a society that is registered within the meaning of the Friendly Societies Act 1974 and that at any time during the relevant period carries on the regulated activity of effecting or carrying out contracts of insurance;</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-13-8-c"><num>(c)</num><content><p>a building society within the meaning of the Building Societies Act 1986;</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-13-8-d"><num>(d)</num><content><p>a credit union within the meaning of the Credit Unions (Northern Ireland) Order 1985 (S.I. 1985/1205 (N.I. 12));</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-13-8-e"><num>(e)</num><content><p>a society that is incorporated under the Friendly Societies Act 1992.</p></content></level>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-13-9"><num>(9)</num><content><p>In this section “<term refersTo="#term-regulated-activity" eId="term-regulated-activity">regulated activity</term>” has the meaning given by section 22 of the Financial Services and Markets Act 2000, taken with Schedule 2 to that Act and any order under that section.</p></content></subsection>
<hcontainer xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:default="http://www.w3.org/1999/xhtml" name="crossheading" ukl:Name="Pblock" eId="crossheading-termination-clauses-in-supply-contracts"><heading><i>Termination clauses in supply contracts</i></heading><section eId="section-14"><num>14</num><heading>Protection of supplies of goods and services: Great Britain</heading><subsection eId="section-14-1"><num>(1)</num><content><p><mod>In the Insolvency Act 1986, after section 233A insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="default"><section><num>233B</num><heading>Protection of supplies of goods and services</heading><subsection><num>(1)</num><content><p>This section applies where a company becomes subject to a relevant insolvency procedure.</p></content></subsection><subsection><num>(2)</num><intro><p>A company becomes subject to a relevant insolvency procedure for the purposes of this section where—</p></intro><level class="para1"><num>(a)</num><content><p>a moratorium under Part A1 comes into force for the company,</p></content></level><level class="para1"><num>(b)</num><content><p>the company enters administration,</p></content></level><level class="para1"><num>(c)</num><content><p>an administrative receiver of the company is appointed (otherwise than in succession to another administrative receiver),</p></content></level><level class="para1"><num>(d)</num><content><p>a voluntary arrangement approved under Part 1 takes effect in relation to the company,</p></content></level><level class="para1"><num>(e)</num><content><p>the company goes into liquidation,</p></content></level><level class="para1"><num>(f)</num><content><p>a provisional liquidator of the company is appointed (otherwise than in succession to another provisional liquidator), or</p></content></level><level class="para1"><num>(g)</num><content><p>a court order is made under section 901C(1) of the Companies Act 2006 in relation to the company (order summoning meeting relating to compromise or arrangement).</p></content></level></subsection><subsection><num>(3)</num><intro><p>A provision of a contract for the supply of goods or services to the company ceases to have effect when the company becomes subject to the relevant insolvency procedure if and to the extent that, under the provision—</p></intro><level class="para1"><num>(a)</num><content><p>the contract or the supply would terminate, or any other thing would take place, because the company becomes subject to the relevant insolvency procedure, or</p></content></level><level class="para1"><num>(b)</num><content><p>the supplier would be entitled to terminate the contract or the supply, or to do any other thing, because the company becomes subject to the relevant insolvency procedure.</p></content></level></subsection><subsection><num>(4)</num><intro><p>Where—</p></intro><level class="para1"><num>(a)</num><content><p>under a provision of a contract for the supply of goods or services to the company the supplier is entitled to terminate the contract or the supply because of an event occurring before the start of the insolvency period, and</p></content></level><level class="para1"><num>(b)</num><content><p>the entitlement arises before the start of that period,</p></content></level><wrapUp><p>the entitlement may not be exercised during that period.</p></wrapUp></subsection><subsection><num>(5)</num><intro><p>Where a provision of a contract ceases to have effect under subsection (3) or an entitlement under a provision of a contract is not exercisable under subsection (4), the supplier may terminate the contract if—</p></intro><level class="para1"><num>(a)</num><content><p>in a case where the company has become subject to a relevant insolvency procedure as specified in subsection (2)(b), (c), (e) or (f), the office-holder consents to the termination of the contract,</p></content></level><level class="para1"><num>(b)</num><content><p>in any other case, the company consents to the termination of the contract, or</p></content></level><level class="para1"><num>(c)</num><content><p>the court is satisfied that the continuation of the contract would cause the supplier hardship and grants permission for the termination of the contract.</p></content></level></subsection><subsection><num>(6)</num><content><p>Where a provision of a contract ceases to have effect under subsection (3) and the company becomes subject to a further relevant insolvency procedure, the supplier may terminate the contract in accordance with subsection (5)(a) to (c).</p></content></subsection><subsection><num>(7)</num><content><p>The supplier shall not make it a condition of any supply of goods and services after the time when the company becomes subject to the relevant insolvency procedure, or do anything which has the effect of making it a condition of such a supply, that any outstanding charges in respect of a supply made to the company before that time are paid.</p></content></subsection><subsection><num>(8)</num><intro><p>In this section “<term refersTo="#term-the-insolvency-period">the insolvency period</term>”, in relation to a relevant insolvency procedure, means the period beginning when the company becomes subject to the relevant insolvency procedure and ending—</p></intro><level class="para1"><num>(a)</num><content><p>in the case of a moratorium under Part A1, when the moratorium comes to an end,</p></content></level><level class="para1"><num>(b)</num><intro><p>in the case of the company entering administration, when the appointment of the administrator ceases to have effect under—</p></intro><level class="para2"><num>(i)</num><content><p>paragraphs 76 to 84 of Schedule B1, or</p></content></level><level class="para2"><num>(ii)</num><content><p>an order under section 901F of the Companies Act 2006,</p></content></level></level><level class="para1"><num>(c)</num><content><p>in the case of the appointment of an administrative receiver of the company, when the receiver or any successor to the receiver ceases to hold office without a successor being appointed,</p></content></level><level class="para1"><num>(d)</num><content><p>in the case of a voluntary arrangement approved under Part 1 taking effect in relation to the company, when the arrangement ceases to have effect,</p></content></level><level class="para1"><num>(e)</num><intro><p>in the case of the company going into liquidation, when—</p></intro><level class="para2"><num>(i)</num><content><p>the liquidator complies with section 94(2), 106(2) or 146(3) (duties relating to final account), or</p></content></level><level class="para2"><num>(ii)</num><content><p>the appointment of the liquidator ceases to have effect under an order under section 901F of the Companies Act 2006,</p></content></level></level><level class="para1"><num>(f)</num><content><p>in the case of the appointment of a provisional liquidator for the company, when the provisional liquidator or any successor to the provisional liquidator ceases to hold office without a successor being appointed, and</p></content></level><level class="para1"><num>(g)</num><intro><p>in the case of the making of a court order under section 901C(1) of the Companies Act 2006 in relation to the company, when—</p></intro><level class="para2"><num>(i)</num><content><p>an order made by the court under section 901F of that Act takes effect, or</p></content></level><level class="para2"><num>(ii)</num><content><p>the court decides not to make such an order.</p></content></level></level></subsection><subsection><num>(9)</num><content><p>In this section “<term refersTo="#term-office-holder">office-holder</term>”, in relation to a company which has entered into an insolvency procedure as specified in subsection (2)(b), (c), (e) or (f), means the administrator, administrative receiver, liquidator or provisional liquidator respectively.</p></content></subsection><subsection><num>(10)</num><content><p>Schedule 4ZZA provides for exclusions from the operation of this section.</p></content></subsection></section><section><num>233C</num><heading>Powers to amend section 233B and Schedule 4ZZA</heading><subsection><num>(1)</num><content><p>The Secretary of State may by regulations omit any of paragraphs (a) to (g) of section 233B(2) (relevant insolvency procedures).</p></content></subsection><subsection><num>(2)</num><intro><p>The Secretary of State may by regulations amend Schedule 4ZZA so as to—</p></intro><level class="para1"><num>(a)</num><content><p>remove or amend any exclusion from section 233B for the time being specified there, or</p></content></level><level class="para1"><num>(b)</num><content><p>add further exclusions from section 233B.</p></content></level></subsection><subsection><num>(3)</num><content><p>In subsection (2), references to exclusions from section 233B are to circumstances in which section 233B, or any provision of that section, does not apply.</p></content></subsection><subsection><num>(4)</num><content><p>The circumstances referred to in subsection (3) may be framed by reference to kinds of company, supplier, contract, goods or services or in any other way.</p></content></subsection><subsection><num>(5)</num><intro><p>Regulations under this section may make—</p></intro><level class="para1"><num>(a)</num><content><p>different provision for different purposes;</p></content></level><level class="para1"><num>(b)</num><content><p>consequential provision;</p></content></level><level class="para1"><num>(c)</num><content><p>transitional and supplementary provision.</p></content></level></subsection><subsection><num>(6)</num><content><p>Regulations under this section made by virtue of subsection (5) may in particular make provision amending this Act or any other enactment whenever passed or made (including, if paragraph 1(1) or (2) of Schedule 4ZZA is omitted, provision omitting section 233A or 233 respectively).</p></content></subsection><subsection><num>(7)</num><content><p>Regulations under subsection (1) may not omit section 233B(2)(c) unless the Secretary of State has first consulted the Scottish Ministers.</p></content></subsection><subsection><num>(8)</num><content><p>In this section “<term refersTo="#term-enactment">enactment</term>” includes an Act of the Scottish Parliament and an instrument made under such an Act.</p></content></subsection><subsection><num>(9)</num><content><p>Regulations under this section are to be made by statutory instrument.</p></content></subsection><subsection><num>(10)</num><content><p>A statutory instrument containing regulations under this section may not be made unless a draft of the instrument has been laid before and approved by a resolution of each House of Parliament.</p></content></subsection></section></quotedStructure></mod></p></content></subsection><subsection eId="section-14-2"><num>(2)</num><content><p><mod>In the Insolvency Act 1986, in section 434 (Crown application), before “bind” insert <quotedText>“
and sections 233A and 233B and Schedule 4ZZA
”</quotedText>.</mod></p></content></subsection><subsection eId="section-14-3"><num>(3)</num><intro><p>Schedule 12—</p></intro><level class="para1" eId="section-14-3-a"><num>(a)</num><content><p>inserts a new Schedule into the Insolvency Act 1986 which provides for exclusions from the operation of section 233B of that Act, and</p></content></level><level class="para1" eId="section-14-3-b"><num>(b)</num><content><p>contains consequential amendments.</p></content></level></subsection><subsection eId="section-14-4"><num>(4)</num><content><p>The amendments made by this section and Schedule 12 have effect in relation to a company which becomes subject to a relevant insolvency procedure on or after the day on which this section comes into force (but in respect of contracts entered into before, as well as those entered into on or after, that day).</p></content></subsection></section><section eId="section-15"><num>15</num><heading>Temporary exclusion for small suppliers: Great Britain</heading><subsection eId="section-15-1"><num>(1)</num><intro><p>Section 233B of the Insolvency Act 1986 does not apply in relation to a contract for the supply of goods or services to a company where—</p></intro><level class="para1" eId="section-15-1-a"><num>(a)</num><content><p>the company becomes subject to a relevant insolvency procedure during the relevant period, and</p></content></level><level class="para1" eId="section-15-1-b"><num>(b)</num><content><p>the supplier is a small entity at the time the company becomes subject to the procedure.</p></content></level></subsection><subsection eId="section-15-2"><num>(2)</num><intro><p>In subsection (1)(a) “<term refersTo="#term-relevant-period" eId="term-relevant-period">relevant period</term>” means the period which—</p></intro><level class="para1" eId="section-15-2-a"><num>(a)</num><content><p>begins with the day on which this section comes into force, and</p></content></level><level class="para1" eId="section-15-2-b"><num>(b)</num><content><p>ends with <ins class="substitution first last" ukl:ChangeId="key-be52f701b35a449d6d82ed1380122d13-1646751096268" ukl:CommentaryRef="key-be52f701b35a449d6d82ed1380122d13"><noteRef uk:name="commentary" href="#key-be52f701b35a449d6d82ed1380122d13" class="commentary"/>30 June 2021</ins>.</p></content></level></subsection><subsection eId="section-15-3"><num>(3)</num><content><p><mod>For the purposes of subsection (1)(b), whether the supplier is a “small entity” at the time the company becomes subject to a relevant insolvency procedure (the <quotedText>“
relevant time
”</quotedText>) is to be determined under subsections (4) to (10).</mod></p></content></subsection><subsection eId="section-15-4"><num>(4)</num><content><p>Where the supplier is not in its first financial year at the relevant time, the supplier is a small entity at the relevant time if at least two of the following conditions were met in relation to its most recent financial year—</p><blockList class="unordered none" ukl:Name="UnorderedList" ukl:Decoration="none"><item><p>Condition 1: the supplier's turnover was not more than £10.2 million;</p></item><item><p>Condition 2: the supplier's balance sheet total was not more than £5.1 million;</p></item><item><p>Condition 3: the number of the supplier's employees was not more than 50.</p></item></blockList></content></subsection><subsection eId="section-15-5"><num>(5)</num><content><p>For the purposes of Condition 1 in subsection (4), if the supplier's most recent financial year was not 12 months, the maximum figure for turnover must be proportionately adjusted.</p></content></subsection><subsection eId="section-15-6"><num>(6)</num><content><p>For the purposes of Condition 2 in subsection (4), the supplier's balance sheet total means the aggregate of the amounts shown as assets in the supplier's balance sheet.</p></content></subsection><subsection eId="section-15-7"><num>(7)</num><intro><p>For the purposes of Condition 3 in subsection (4), the number of the supplier's employees means the average number of persons employed by the supplier in its most recent financial year, determined as follows—</p></intro><level class="para1" eId="section-15-7-a"><num>(a)</num><content><p>find for each month in that financial year the number of persons employed under contracts of service by the supplier in that month (whether throughout the month or not),</p></content></level><level class="para1" eId="section-15-7-b"><num>(b)</num><content><p>add together the monthly totals, and</p></content></level><level class="para1" eId="section-15-7-c"><num>(c)</num><content><p>divide by the number of months in the financial year.</p></content></level></subsection><subsection eId="section-15-8"><num>(8)</num><content><p>In subsections (4) to (7) the supplier's “most recent financial year” is the financial year of the supplier which, at the relevant time, has ended most recently.</p></content></subsection><subsection eId="section-15-9"><num>(9)</num><content><p>Where the supplier is in its first financial year at the relevant time, the supplier is a small entity at the relevant time if at least two of the following conditions are met—</p><blockList class="unordered none" ukl:Name="UnorderedList" ukl:Decoration="none"><item><p>Condition 1: the supplier's average turnover for each complete month in the supplier's first financial year is not more than £850,000;</p></item><item><p>Condition 2: the aggregate of amounts which would be shown in a balance sheet of the supplier drawn up at the relevant time is not more than £5.1 million;</p></item><item><p>Condition 3: the average number of persons employed by the supplier in the supplier's first financial year (determined as specified in subsection (7)) is not more than 50.</p></item></blockList></content></subsection><subsection eId="section-15-10"><num>(10)</num><intro><p>In this section—</p></intro><hcontainer name="definition"><intro><p>“<term refersTo="#term-entity" eId="term-entity">entity</term>” means—</p></intro><level class="para1"><num>(a)</num><content><p>a company,</p></content></level><level class="para1"><num>(b)</num><content><p>a limited liability partnership,</p></content></level><level class="para1"><num>(c)</num><content><p>any other association or body of persons, whether or not incorporated, and</p></content></level><level class="para1"><num>(d)</num><content><p>an individual carrying on a trade or business;</p></content></level></hcontainer><hcontainer name="definition"><content><p>“<term refersTo="#term-relevant-insolvency-procedure" eId="term-relevant-insolvency-procedure">relevant insolvency procedure</term>” has the same meaning as in section 233B of the Insolvency Act 1986.</p></content></hcontainer></subsection><subsection eId="section-15-11"><num>(11)</num><content><p>This section has effect as if it were included in Part 6 of the Insolvency Act 1986.</p></content></subsection></section><section eId="section-16"><num>16</num><heading>Protection of supplies of electricity, gas, water, etc: Northern Ireland</heading><subsection eId="section-16-1"><num>(1)</num><content><p>Article 197 of the Insolvency (Northern Ireland) Order 1989 (S.I. 1989/2405 (N.I. 19)) is amended as follows.</p></content></subsection><subsection eId="section-16-2"><num>(2)</num><content><p>Paragraph (3) is amended in accordance with subsections (3) to (5).</p></content></subsection><subsection eId="section-16-3"><num>(3)</num><content><p><mod>After sub-paragraph (a) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="unknown" uk:docName="unknown" ukl:TargetClass="unknown" ukl:TargetSubClass="unknown" ukl:Context="unknown" ukl:Format="default"><level class="para1"><num>(aza)</num><content><p>a supply of electricity by a class of person within Class A (small supply) or Class B (resale) of Schedule 3 to the Electricity (Class Exemptions from the Requirement for a Licence) Order (Northern Ireland) 2013 (S.R. 2013/93);</p></content></level></quotedStructure><inline name="appendText">.</inline></mod></p></content></subsection><subsection eId="section-16-4"><num>(4)</num><content><p><mod>After sub-paragraph (b) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="unknown" uk:docName="unknown" ukl:TargetClass="unknown" ukl:TargetSubClass="unknown" ukl:Context="unknown" ukl:Format="default"><level class="para1"><num>(ba)</num><content><p>a supply of water by a person who has an interest in the premises to which the supply is given;</p></content></level></quotedStructure><inline name="appendText">.</inline></mod></p></content></subsection><subsection eId="section-16-5"><num>(5)</num><content><p><mod>After sub-paragraph (c) (and before the words “and in this paragraph”) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="unknown" uk:docName="unknown" ukl:TargetClass="unknown" ukl:TargetSubClass="unknown" ukl:Context="unknown" ukl:Format="default"><level class="para1"><num>(d)</num><content><p>a supply of communications services by a person who carries on a business which includes giving such supplies;</p></content></level><level class="para1"><num>(e)</num><content><p>a supply of goods or services mentioned in paragraph (3A) by a person who carries on a business which includes giving such supplies, where the supply is for the purpose of enabling or facilitating anything to be done by electronic means;</p></content></level></quotedStructure><inline name="appendText">.</inline></mod></p></content></subsection><subsection eId="section-16-6"><num>(6)</num><content><p><mod>After paragraph (3) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="unknown" uk:docName="unknown" ukl:TargetClass="unknown" ukl:TargetSubClass="unknown" ukl:Context="unknown" ukl:Format="default"><subsection><num>(3A)</num><intro><p>The goods and services referred to in paragraph (3)(e) are—</p></intro><level class="para1"><num>(a)</num><content><p>point of sale terminals;</p></content></level><level class="para1"><num>(b)</num><content><p>computer hardware and software;</p></content></level><level class="para1"><num>(c)</num><content><p>information, advice and technical assistance in connection with the use of information technology;</p></content></level><level class="para1"><num>(d)</num><content><p>data storage and processing;</p></content></level><level class="para1"><num>(e)</num><content><p>website hosting.</p></content></level></subsection></quotedStructure></mod></p></content></subsection></section><section eId="section-17"><num>17</num><heading>Further protection of essential supplies: Northern Ireland</heading><subsection eId="section-17-1"><num>(1)</num><content><p><mod>After Article 197 of the Insolvency (Northern Ireland) Order 1989 insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="order" ukl:Context="main" ukl:Format="default"><article><heading>Further protection of essential supplies</heading><num>197A</num><paragraph><num>(1)</num><intro><p>An insolvency-related term of a contract for the supply of essential goods or services to a company ceases to have effect if—</p></intro><level class="para1"><num>(a)</num><content><p>the company enters administration, or</p></content></level><level class="para1"><num>(b)</num><content><p>a voluntary arrangement approved under Part 2 takes effect in relation to the company.</p></content></level></paragraph><paragraph><num>(2)</num><intro><p>An insolvency-related term of a contract does not cease to have effect by virtue of paragraph (1) to the extent that—</p></intro><level class="para1"><num>(a)</num><content><p>it provides for the contract or the supply to terminate, or any other thing to take place, because the company becomes subject to an insolvency procedure other than administration or a voluntary arrangement;</p></content></level><level class="para1"><num>(b)</num><content><p>it entitles a supplier to terminate the contract or the supply, or do any other thing, because the company becomes subject to an insolvency procedure other than administration or a voluntary arrangement; or</p></content></level><level class="para1"><num>(c)</num><content><p>it entitles a supplier to terminate the contract or the supply because of an event that occurs, or may occur, after the company enters administration or the voluntary arrangement takes effect.</p></content></level></paragraph><paragraph><num>(3)</num><intro><p>Where an insolvency-related term of a contract ceases to have effect under this Article the supplier may—</p></intro><level class="para1"><num>(a)</num><content><p>terminate the contract, if the condition in paragraph (4) is met;</p></content></level><level class="para1"><num>(b)</num><content><p>terminate the supply, if the condition in paragraph (5) is met.</p></content></level></paragraph><paragraph><num>(4)</num><intro><p>The condition in this paragraph is that—</p></intro><level class="para1"><num>(a)</num><content><p>the insolvency office-holder consents to the termination of the contract,</p></content></level><level class="para1"><num>(b)</num><content><p>the High Court grants permission for the termination of the contract, or</p></content></level><level class="para1"><num>(c)</num><content><p>any charges in respect of the supply that are incurred after the company entered administration or the voluntary arrangement took effect are not paid within the period of 28 days beginning with the day on which payment is due.</p></content></level><wrapUp><p>The High Court may grant permission under sub-paragraph (b) only if satisfied that the continuation of the contract would cause the supplier hardship.</p></wrapUp></paragraph><paragraph><num>(5)</num><intro><p>The condition in this paragraph is that—</p></intro><level class="para1"><num>(a)</num><content><p>the supplier gives written notice to the insolvency office-holder that the supply will be terminated unless the office-holder personally guarantees the payment of any charges in respect of the continuation of the supply after the company entered administration or the voluntary arrangement took effect, and</p></content></level><level class="para1"><num>(b)</num><content><p>the insolvency office-holder does not give that guarantee within the period of 14 days beginning with the day the notice is received.</p></content></level></paragraph><paragraph><num>(6)</num><intro><p>For the purposes of securing that the interests of suppliers are protected, where—</p></intro><level class="para1"><num>(a)</num><content><p>an insolvency-related term of a contract (the “original term”) ceases to have effect by virtue of paragraph (1), and</p></content></level><level class="para1"><num>(b)</num><content><p>the company subsequently enters administration, or a voluntary arrangement subsequently has effect in relation to it,</p></content></level><wrapUp><p>the contract is treated for the purposes of paragraphs (1) to (5) as if, immediately before the subsequent administration is entered into or the subsequent voluntary arrangement takes effect, it included an insolvency-related term identical to the original term.</p></wrapUp></paragraph><paragraph><num>(7)</num><content><p>A contract for the supply of essential goods or services is a contract for a supply mentioned in Article 197(3).</p></content></paragraph><paragraph><num>(8)</num><intro><p>An insolvency-related term of a contract for the supply of essential goods or services to a company is a provision of the contract under which—</p></intro><level class="para1"><num>(a)</num><content><p>the contract or the supply would terminate, or any other thing would take place, because the company enters administration or the voluntary arrangement takes effect,</p></content></level><level class="para1"><num>(b)</num><content><p>the supplier would be entitled to terminate the contract or the supply, or to do any other thing, because the company enters administration or the voluntary arrangement takes effect, or</p></content></level><level class="para1"><num>(c)</num><content><p>the supplier would be entitled to terminate the contract or the supply because of an event that occurred before the company enters administration or the voluntary arrangement takes effect.</p></content></level></paragraph><paragraph><num>(9)</num><intro><p>In this Article “<term refersTo="#term-insolvency-office-holder">insolvency office-holder</term>” means—</p></intro><level class="para1"><num>(a)</num><content><p>in a case where a company enters administration, the administrator;</p></content></level><level class="para1"><num>(b)</num><content><p>in a case where a voluntary arrangement under Part 2 takes effect in relation to a company, the supervisor of the voluntary arrangement.</p></content></level></paragraph></article></quotedStructure></mod></p></content></subsection><subsection eId="section-17-2"><num>(2)</num><content><p><mod>In Schedule 5 to the Investment Bank Special Administration Regulations 2011 (S.I. 2011/245), in the Table, after the entry for section 233 insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="default"><tblock class="table" ukl:Orientation="portrait"><foreign><default:table xmlns="http://www.w3.org/1999/xhtml"><default:colgroup><default:col style="width:33%"/><default:col style="width:33%"/><default:col style="width:33%"/></default:colgroup><default:tbody><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Section 233A</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Article 197A</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">-</p></default:td></default:tr></default:tbody></default:table></foreign></tblock></quotedStructure><inline name="appendText">.</inline></mod></p></content></subsection><subsection eId="section-17-3"><num>(3)</num><content><p>The amendments made by this section have effect in relation to a company which enters administration or has a voluntary arrangement take effect in relation to it on or after the day on which this section comes into force (but in respect of contracts entered into before, as well as those entered into on or after, that day).</p></content></subsection></section><section eId="section-18"><num>18</num><heading>Protection of supplies of goods and services: Northern Ireland</heading><subsection eId="section-18-1"><num>(1)</num><content><p><mod>After Article 197A of the Insolvency (Northern Ireland) Order 1989 insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="order" ukl:Context="main" ukl:Format="default"><article><heading>Protection of supplies of goods and services</heading><num>197B</num><paragraph><num>(1)</num><content><p>This Article applies where a company becomes subject to a relevant insolvency procedure.</p></content></paragraph><paragraph><num>(2)</num><intro><p>A company becomes subject to a relevant insolvency procedure for the purposes of this Article where—</p></intro><level class="para1"><num>(a)</num><content><p>a moratorium under Part 1A comes into force for the company,</p></content></level><level class="para1"><num>(b)</num><content><p>the company enters administration,</p></content></level><level class="para1"><num>(c)</num><content><p>an administrative receiver of the company is appointed (otherwise than in succession to another administrative receiver),</p></content></level><level class="para1"><num>(d)</num><content><p>a voluntary arrangement approved under Part 2 takes effect in relation to the company,</p></content></level><level class="para1"><num>(e)</num><content><p>the company goes into liquidation,</p></content></level><level class="para1"><num>(f)</num><content><p>a provisional liquidator of the company is appointed (otherwise than in succession to another provisional liquidator), or</p></content></level><level class="para1"><num>(g)</num><content><p>a court order is made under section 901C(1) of the Companies Act 2006 in relation to the company (order summoning meeting relating to compromise or arrangement).</p></content></level></paragraph><paragraph><num>(3)</num><intro><p>A provision of a contract for the supply of goods or services to the company ceases to have effect when the company becomes subject to the relevant insolvency procedure if and to the extent that, under the provision—</p></intro><level class="para1"><num>(a)</num><content><p>the contract or the supply would terminate, or any other thing would take place, because the company becomes subject to the relevant insolvency procedure, or</p></content></level><level class="para1"><num>(b)</num><content><p>the supplier would be entitled to terminate the contract or the supply, or to do any other thing, because the company becomes subject to the relevant insolvency procedure.</p></content></level></paragraph><paragraph><num>(4)</num><intro><p>Where—</p></intro><level class="para1"><num>(a)</num><content><p>under a provision of a contract for the supply of goods or services to the company the supplier is entitled to terminate the contract or the supply because of an event occurring before the start of the insolvency period, and</p></content></level><level class="para1"><num>(b)</num><content><p>the entitlement arises before the start of that period,</p></content></level><wrapUp><p>the entitlement may not be exercised during that period.</p></wrapUp></paragraph><paragraph><num>(5)</num><intro><p>Where a provision of a contract ceases to have effect under paragraph (3) or an entitlement under a provision of a contract is not exercisable under paragraph (4), the supplier may terminate the contract if—</p></intro><level class="para1"><num>(a)</num><content><p>in a case where the company has become subject to a relevant insolvency procedure as specified in paragraph (2)(b), (c), (e) or (f), the office-holder consents to the termination of the contract,</p></content></level><level class="para1"><num>(b)</num><content><p>in any other case, the company consents to the termination of the contract, or</p></content></level><level class="para1"><num>(c)</num><content><p>the High Court is satisfied that the continuation of the contract would cause the supplier hardship and grants permission for the termination of the contract.</p></content></level></paragraph><paragraph><num>(6)</num><content><p>Where a provision of a contract ceases to have effect under paragraph (3) and the company becomes subject to a further relevant insolvency procedure, the supplier may terminate the contract in accordance with paragraph (5)(a) to (c).</p></content></paragraph><paragraph><num>(7)</num><content><p>The supplier shall not make it a condition of any supply of goods and services after the time when the company becomes subject to the relevant insolvency procedure, or do anything which has the effect of making it a condition of such a supply, that any outstanding charges in respect of a supply made to the company before that time are paid.</p></content></paragraph><paragraph><num>(8)</num><intro><p>In this Article “<term refersTo="#term-the-insolvency-period">the insolvency period</term>”, in relation to a relevant insolvency procedure, means the period beginning when the company becomes subject to the relevant insolvency procedure and ending—</p></intro><level class="para1"><num>(a)</num><content><p>in the case of a moratorium under Part 1A, when the moratorium comes to an end,</p></content></level><level class="para1"><num>(b)</num><intro><p>in the case of the company entering administration, when the appointment of the administrator ceases to have effect under —</p></intro><level class="para2"><num>(i)</num><content><p>paragraphs 77 to 85 of Schedule B1, or</p></content></level><level class="para2"><num>(ii)</num><content><p>an order under section 901F of the Companies Act 2006,</p></content></level></level><level class="para1"><num>(c)</num><content><p>in the case of the appointment of an administrative receiver of the company, when the receiver or any successor to the receiver ceases to hold office without a successor being appointed,</p></content></level><level class="para1"><num>(d)</num><content><p>in the case of a voluntary arrangement approved under Part 2 taking effect in relation to the company, when the arrangement ceases to have effect,</p></content></level><level class="para1"><num>(e)</num><intro><p>in the case of the company going into liquidation, when the liquidator has—</p></intro><level class="para2"><num>(i)</num><content><p>pursuant to Article 80(1), laid the account of the winding up before a general meeting of the company and given an explanation of it,</p></content></level><level class="para2"><num>(ii)</num><content><p>pursuant to Article 92(1), laid the account of the winding up before a general meeting of the company and a meeting of the creditors and given an explanation of it to each meeting, or</p></content></level><level class="para2"><num>(iii)</num><content><p>pursuant to Article 124(1), given the liquidator's report of the winding up to a general meeting of the company's creditors,</p></content></level><wrapUp><p>or when the appointment of the liquidator ceases to have effect under an order under section 901F of the Companies Act 2006,</p></wrapUp></level><level class="para1"><num>(f)</num><content><p>in the case of the appointment of a provisional liquidator for the company, when the provisional liquidator or any successor to the provisional liquidator ceases to hold office without a successor being appointed, and</p></content></level><level class="para1"><num>(g)</num><intro><p>in the case of the making of a court order under section 901C(1) of the Companies Act 2006 in relation to the company, when—</p></intro><level class="para2"><num>(i)</num><content><p>an order made by the High Court under section 901F of that Act takes effect, or</p></content></level><level class="para2"><num>(ii)</num><content><p>the High Court decides not to make such an order.</p></content></level></level></paragraph><paragraph><num>(9)</num><content><p>In this Article “<term refersTo="#term-office-holder">office-holder</term>”, in relation to a company which has entered into an insolvency procedure as specified in paragraph (2)(b), (c), (e) or (f), means the administrator, administrative receiver, liquidator or provisional liquidator respectively.</p></content></paragraph><paragraph><num>(10)</num><content><p>Schedule 2ZZA provides for exclusions from the operation of this Article.</p></content></paragraph></article><article><heading>Powers to amend Article 197B and Schedule 2ZZA</heading><num>197C</num><paragraph><num>(1)</num><content><p>Regulations may omit any of sub-paragraphs (a) to (g) of Article 197B(2) (relevant insolvency procedures).</p></content></paragraph><paragraph><num>(2)</num><intro><p>Regulations may amend Schedule 2ZZA so as to—</p></intro><level class="para1"><num>(a)</num><content><p>remove or amend any exclusion from Article 197B for the time being specified there, or</p></content></level><level class="para1"><num>(b)</num><content><p>add further exclusions from Article 197B.</p></content></level></paragraph><paragraph><num>(3)</num><content><p>In paragraph (2), references to exclusions from Article 197B are to circumstances in which Article 197B, or any provision of that Article, does not apply.</p></content></paragraph><paragraph><num>(4)</num><content><p>The circumstances referred to in paragraph (3) may be framed by reference to kinds of company, supplier, contract, goods or services or in any other way.</p></content></paragraph><paragraph><num>(5)</num><intro><p>Regulations under this Article may make—</p></intro><level class="para1"><num>(a)</num><content><p>consequential provision;</p></content></level><level class="para1"><num>(b)</num><content><p>transitional and supplementary provision.</p></content></level></paragraph><paragraph><num>(6)</num><content><p>Regulations under this Article made by virtue of paragraph (5) may in particular make provision amending this Order or any other statutory provision whenever passed or made (including, if paragraph 1(1) or (2) of Schedule 2ZZA is omitted, provision omitting Article 197A or 197 respectively).</p></content></paragraph><paragraph><num>(7)</num><content><p>Regulations may not be made under this Article unless a draft of the regulations has been laid before, and approved by a resolution of, the Assembly.</p></content></paragraph></article></quotedStructure></mod></p></content></subsection><subsection eId="section-18-2"><num>(2)</num><content><p><mod>In the Insolvency (Northern Ireland) Order 1989, in Article 2(2), in the definition of “regulations”, before “Article 359(2)” insert <quotedText>“
Article 197C and
”</quotedText>.</mod></p></content></subsection><subsection eId="section-18-3"><num>(3)</num><intro><p>Schedule 13—</p></intro><level class="para1" eId="section-18-3-a"><num>(a)</num><content><p>inserts a new Schedule into the Insolvency (Northern Ireland) Order 1989 which provides for exclusions from the operation of Article 197B of that Order, and</p></content></level><level class="para1" eId="section-18-3-b"><num>(b)</num><content><p>contains consequential amendments.</p></content></level></subsection><subsection eId="section-18-4"><num>(4)</num><content><p>The amendments made by this section and Schedule 13 have effect in relation to a company which becomes subject to a relevant insolvency procedure on or after the day on which this section comes into force (but in respect of contracts entered into before, as well as those entered into on or after, that day).</p></content></subsection></section><section eId="section-19"><num>19</num><heading>Temporary exclusion for small suppliers: Northern Ireland</heading><subsection eId="section-19-1"><num>(1)</num><intro><p>Article 197B of the Insolvency (Northern Ireland) Order 1989 does not apply in relation to a contract for the supply of goods or services to a company where—</p></intro><level class="para1" eId="section-19-1-a"><num>(a)</num><content><p>the company becomes subject to a relevant insolvency procedure during the relevant period, and</p></content></level><level class="para1" eId="section-19-1-b"><num>(b)</num><content><p>the supplier is a small entity at the time the company becomes subject to the procedure.</p></content></level></subsection><subsection eId="section-19-2"><num>(2)</num><intro><p>In subsection (1)(a) “<term refersTo="#term-relevant-period" eId="term-relevant-period">relevant period</term>” means the period which—</p></intro><level class="para1" eId="section-19-2-a"><num>(a)</num><content><p>begins with the day on which this section comes into force, and</p></content></level><level class="para1" eId="section-19-2-b"><num>(b)</num><content><p>ends with <ins class="substitution first last" ukl:ChangeId="key-62ef1e972a369007ce9a0d84ebb49b09-1646751478397" ukl:CommentaryRef="key-62ef1e972a369007ce9a0d84ebb49b09"><noteRef uk:name="commentary" href="#key-62ef1e972a369007ce9a0d84ebb49b09" class="commentary"/>30 June 2021</ins>.</p></content></level></subsection><subsection eId="section-19-3"><num>(3)</num><content><p><mod>For the purposes of subsection (1)(b), whether the supplier is a “small entity” at the time the company becomes subject to a relevant insolvency procedure (the <quotedText>“
relevant time
”</quotedText>) is to be determined under subsections (4) to (10).</mod></p></content></subsection><subsection eId="section-19-4"><num>(4)</num><content><p>Where the supplier is not in its first financial year at the relevant time, the supplier is a small entity at the relevant time if at least two of the following conditions were met in relation to its most recent financial year—</p><blockList class="unordered none" ukl:Name="UnorderedList" ukl:Decoration="none"><item><p>Condition 1: the supplier's turnover was not more than £10.2 million;</p></item><item><p>Condition 2: the supplier's balance sheet total was not more than £5.1 million;</p></item><item><p>Condition 3: the number of the supplier's employees was not more than 50.</p></item></blockList></content></subsection><subsection eId="section-19-5"><num>(5)</num><content><p>For the purposes of Condition 1 in subsection (4), if the supplier's most recent financial year was not 12 months, the maximum figure for turnover must be proportionately adjusted.</p></content></subsection><subsection eId="section-19-6"><num>(6)</num><content><p>For the purposes of Condition 2 in subsection (4), the supplier's balance sheet total means the aggregate of the amounts shown as assets in the supplier's balance sheet.</p></content></subsection><subsection eId="section-19-7"><num>(7)</num><intro><p>For the purposes of Condition 3 in subsection (4), the number of the supplier's employees means the average number of persons employed by the supplier in its most recent financial year, determined as follows—</p></intro><level class="para1" eId="section-19-7-a"><num>(a)</num><content><p>find for each month in that financial year the number of persons employed under contracts of service by the supplier in that month (whether throughout the month or not),</p></content></level><level class="para1" eId="section-19-7-b"><num>(b)</num><content><p>add together the monthly totals, and</p></content></level><level class="para1" eId="section-19-7-c"><num>(c)</num><content><p>divide by the number of months in the financial year.</p></content></level></subsection><subsection eId="section-19-8"><num>(8)</num><content><p>In subsections (4) to (7) the supplier's “most recent financial year” is the financial year of the supplier which, at the relevant time, has ended most recently.</p></content></subsection><subsection eId="section-19-9"><num>(9)</num><content><p>Where the supplier is in its first financial year at the relevant time, the supplier is a small entity at the relevant time if at least two of the following conditions are met—</p><blockList class="unordered none" ukl:Name="UnorderedList" ukl:Decoration="none"><item><p>Condition 1: the supplier's average turnover for each complete month in the supplier's first financial year is not more than £850,000;</p></item><item><p>Condition 2: the aggregate of amounts which would be shown in a balance sheet of the supplier drawn up at the relevant time is not more than £5.1 million;</p></item><item><p>Condition 3: the average number of persons employed by the supplier in the supplier's first financial year (determined as specified in subsection (7)) is not more than 50.</p></item></blockList></content></subsection><subsection eId="section-19-10"><num>(10)</num><intro><p>In this section—</p></intro><hcontainer name="definition"><intro><p>“<term refersTo="#term-entity" eId="term-entity">entity</term>” means—</p></intro><level class="para1"><num>(a)</num><content><p>a company,</p></content></level><level class="para1"><num>(b)</num><content><p>a limited liability partnership,</p></content></level><level class="para1"><num>(c)</num><content><p>any other association or body of persons, whether or not incorporated, and</p></content></level><level class="para1"><num>(d)</num><content><p>an individual carrying on a trade or business;</p></content></level></hcontainer><hcontainer name="definition"><content><p>“<term refersTo="#term-relevant-insolvency-procedure" eId="term-relevant-insolvency-procedure">relevant insolvency procedure</term>” has the same meaning as in Article 197B of the Insolvency (Northern Ireland) Order 1989.</p></content></hcontainer></subsection><subsection eId="section-19-11"><num>(11)</num><content><p>This section has effect as if it were included in Part 7 of the Insolvency (Northern Ireland) Order 1989.</p></content></subsection></section></hcontainer>
<section xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" eId="section-14"><num>14</num><heading>Protection of supplies of goods and services: Great Britain</heading><subsection eId="section-14-1"><num>(1)</num><content><p><mod>In the Insolvency Act 1986, after section 233A insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="default"><section><num>233B</num><heading>Protection of supplies of goods and services</heading><subsection><num>(1)</num><content><p>This section applies where a company becomes subject to a relevant insolvency procedure.</p></content></subsection><subsection><num>(2)</num><intro><p>A company becomes subject to a relevant insolvency procedure for the purposes of this section where—</p></intro><level class="para1"><num>(a)</num><content><p>a moratorium under Part A1 comes into force for the company,</p></content></level><level class="para1"><num>(b)</num><content><p>the company enters administration,</p></content></level><level class="para1"><num>(c)</num><content><p>an administrative receiver of the company is appointed (otherwise than in succession to another administrative receiver),</p></content></level><level class="para1"><num>(d)</num><content><p>a voluntary arrangement approved under Part 1 takes effect in relation to the company,</p></content></level><level class="para1"><num>(e)</num><content><p>the company goes into liquidation,</p></content></level><level class="para1"><num>(f)</num><content><p>a provisional liquidator of the company is appointed (otherwise than in succession to another provisional liquidator), or</p></content></level><level class="para1"><num>(g)</num><content><p>a court order is made under section 901C(1) of the Companies Act 2006 in relation to the company (order summoning meeting relating to compromise or arrangement).</p></content></level></subsection><subsection><num>(3)</num><intro><p>A provision of a contract for the supply of goods or services to the company ceases to have effect when the company becomes subject to the relevant insolvency procedure if and to the extent that, under the provision—</p></intro><level class="para1"><num>(a)</num><content><p>the contract or the supply would terminate, or any other thing would take place, because the company becomes subject to the relevant insolvency procedure, or</p></content></level><level class="para1"><num>(b)</num><content><p>the supplier would be entitled to terminate the contract or the supply, or to do any other thing, because the company becomes subject to the relevant insolvency procedure.</p></content></level></subsection><subsection><num>(4)</num><intro><p>Where—</p></intro><level class="para1"><num>(a)</num><content><p>under a provision of a contract for the supply of goods or services to the company the supplier is entitled to terminate the contract or the supply because of an event occurring before the start of the insolvency period, and</p></content></level><level class="para1"><num>(b)</num><content><p>the entitlement arises before the start of that period,</p></content></level><wrapUp><p>the entitlement may not be exercised during that period.</p></wrapUp></subsection><subsection><num>(5)</num><intro><p>Where a provision of a contract ceases to have effect under subsection (3) or an entitlement under a provision of a contract is not exercisable under subsection (4), the supplier may terminate the contract if—</p></intro><level class="para1"><num>(a)</num><content><p>in a case where the company has become subject to a relevant insolvency procedure as specified in subsection (2)(b), (c), (e) or (f), the office-holder consents to the termination of the contract,</p></content></level><level class="para1"><num>(b)</num><content><p>in any other case, the company consents to the termination of the contract, or</p></content></level><level class="para1"><num>(c)</num><content><p>the court is satisfied that the continuation of the contract would cause the supplier hardship and grants permission for the termination of the contract.</p></content></level></subsection><subsection><num>(6)</num><content><p>Where a provision of a contract ceases to have effect under subsection (3) and the company becomes subject to a further relevant insolvency procedure, the supplier may terminate the contract in accordance with subsection (5)(a) to (c).</p></content></subsection><subsection><num>(7)</num><content><p>The supplier shall not make it a condition of any supply of goods and services after the time when the company becomes subject to the relevant insolvency procedure, or do anything which has the effect of making it a condition of such a supply, that any outstanding charges in respect of a supply made to the company before that time are paid.</p></content></subsection><subsection><num>(8)</num><intro><p>In this section “<term refersTo="#term-the-insolvency-period">the insolvency period</term>”, in relation to a relevant insolvency procedure, means the period beginning when the company becomes subject to the relevant insolvency procedure and ending—</p></intro><level class="para1"><num>(a)</num><content><p>in the case of a moratorium under Part A1, when the moratorium comes to an end,</p></content></level><level class="para1"><num>(b)</num><intro><p>in the case of the company entering administration, when the appointment of the administrator ceases to have effect under—</p></intro><level class="para2"><num>(i)</num><content><p>paragraphs 76 to 84 of Schedule B1, or</p></content></level><level class="para2"><num>(ii)</num><content><p>an order under section 901F of the Companies Act 2006,</p></content></level></level><level class="para1"><num>(c)</num><content><p>in the case of the appointment of an administrative receiver of the company, when the receiver or any successor to the receiver ceases to hold office without a successor being appointed,</p></content></level><level class="para1"><num>(d)</num><content><p>in the case of a voluntary arrangement approved under Part 1 taking effect in relation to the company, when the arrangement ceases to have effect,</p></content></level><level class="para1"><num>(e)</num><intro><p>in the case of the company going into liquidation, when—</p></intro><level class="para2"><num>(i)</num><content><p>the liquidator complies with section 94(2), 106(2) or 146(3) (duties relating to final account), or</p></content></level><level class="para2"><num>(ii)</num><content><p>the appointment of the liquidator ceases to have effect under an order under section 901F of the Companies Act 2006,</p></content></level></level><level class="para1"><num>(f)</num><content><p>in the case of the appointment of a provisional liquidator for the company, when the provisional liquidator or any successor to the provisional liquidator ceases to hold office without a successor being appointed, and</p></content></level><level class="para1"><num>(g)</num><intro><p>in the case of the making of a court order under section 901C(1) of the Companies Act 2006 in relation to the company, when—</p></intro><level class="para2"><num>(i)</num><content><p>an order made by the court under section 901F of that Act takes effect, or</p></content></level><level class="para2"><num>(ii)</num><content><p>the court decides not to make such an order.</p></content></level></level></subsection><subsection><num>(9)</num><content><p>In this section “<term refersTo="#term-office-holder">office-holder</term>”, in relation to a company which has entered into an insolvency procedure as specified in subsection (2)(b), (c), (e) or (f), means the administrator, administrative receiver, liquidator or provisional liquidator respectively.</p></content></subsection><subsection><num>(10)</num><content><p>Schedule 4ZZA provides for exclusions from the operation of this section.</p></content></subsection></section><section><num>233C</num><heading>Powers to amend section 233B and Schedule 4ZZA</heading><subsection><num>(1)</num><content><p>The Secretary of State may by regulations omit any of paragraphs (a) to (g) of section 233B(2) (relevant insolvency procedures).</p></content></subsection><subsection><num>(2)</num><intro><p>The Secretary of State may by regulations amend Schedule 4ZZA so as to—</p></intro><level class="para1"><num>(a)</num><content><p>remove or amend any exclusion from section 233B for the time being specified there, or</p></content></level><level class="para1"><num>(b)</num><content><p>add further exclusions from section 233B.</p></content></level></subsection><subsection><num>(3)</num><content><p>In subsection (2), references to exclusions from section 233B are to circumstances in which section 233B, or any provision of that section, does not apply.</p></content></subsection><subsection><num>(4)</num><content><p>The circumstances referred to in subsection (3) may be framed by reference to kinds of company, supplier, contract, goods or services or in any other way.</p></content></subsection><subsection><num>(5)</num><intro><p>Regulations under this section may make—</p></intro><level class="para1"><num>(a)</num><content><p>different provision for different purposes;</p></content></level><level class="para1"><num>(b)</num><content><p>consequential provision;</p></content></level><level class="para1"><num>(c)</num><content><p>transitional and supplementary provision.</p></content></level></subsection><subsection><num>(6)</num><content><p>Regulations under this section made by virtue of subsection (5) may in particular make provision amending this Act or any other enactment whenever passed or made (including, if paragraph 1(1) or (2) of Schedule 4ZZA is omitted, provision omitting section 233A or 233 respectively).</p></content></subsection><subsection><num>(7)</num><content><p>Regulations under subsection (1) may not omit section 233B(2)(c) unless the Secretary of State has first consulted the Scottish Ministers.</p></content></subsection><subsection><num>(8)</num><content><p>In this section “<term refersTo="#term-enactment">enactment</term>” includes an Act of the Scottish Parliament and an instrument made under such an Act.</p></content></subsection><subsection><num>(9)</num><content><p>Regulations under this section are to be made by statutory instrument.</p></content></subsection><subsection><num>(10)</num><content><p>A statutory instrument containing regulations under this section may not be made unless a draft of the instrument has been laid before and approved by a resolution of each House of Parliament.</p></content></subsection></section></quotedStructure></mod></p></content></subsection><subsection eId="section-14-2"><num>(2)</num><content><p><mod>In the Insolvency Act 1986, in section 434 (Crown application), before “bind” insert <quotedText>“
and sections 233A and 233B and Schedule 4ZZA
”</quotedText>.</mod></p></content></subsection><subsection eId="section-14-3"><num>(3)</num><intro><p>Schedule 12—</p></intro><level class="para1" eId="section-14-3-a"><num>(a)</num><content><p>inserts a new Schedule into the Insolvency Act 1986 which provides for exclusions from the operation of section 233B of that Act, and</p></content></level><level class="para1" eId="section-14-3-b"><num>(b)</num><content><p>contains consequential amendments.</p></content></level></subsection><subsection eId="section-14-4"><num>(4)</num><content><p>The amendments made by this section and Schedule 12 have effect in relation to a company which becomes subject to a relevant insolvency procedure on or after the day on which this section comes into force (but in respect of contracts entered into before, as well as those entered into on or after, that day).</p></content></subsection></section>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" eId="section-14-1"><num>(1)</num><content><p><mod>In the Insolvency Act 1986, after section 233A insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="default"><section><num>233B</num><heading>Protection of supplies of goods and services</heading><subsection><num>(1)</num><content><p>This section applies where a company becomes subject to a relevant insolvency procedure.</p></content></subsection><subsection><num>(2)</num><intro><p>A company becomes subject to a relevant insolvency procedure for the purposes of this section where—</p></intro><level class="para1"><num>(a)</num><content><p>a moratorium under Part A1 comes into force for the company,</p></content></level><level class="para1"><num>(b)</num><content><p>the company enters administration,</p></content></level><level class="para1"><num>(c)</num><content><p>an administrative receiver of the company is appointed (otherwise than in succession to another administrative receiver),</p></content></level><level class="para1"><num>(d)</num><content><p>a voluntary arrangement approved under Part 1 takes effect in relation to the company,</p></content></level><level class="para1"><num>(e)</num><content><p>the company goes into liquidation,</p></content></level><level class="para1"><num>(f)</num><content><p>a provisional liquidator of the company is appointed (otherwise than in succession to another provisional liquidator), or</p></content></level><level class="para1"><num>(g)</num><content><p>a court order is made under section 901C(1) of the Companies Act 2006 in relation to the company (order summoning meeting relating to compromise or arrangement).</p></content></level></subsection><subsection><num>(3)</num><intro><p>A provision of a contract for the supply of goods or services to the company ceases to have effect when the company becomes subject to the relevant insolvency procedure if and to the extent that, under the provision—</p></intro><level class="para1"><num>(a)</num><content><p>the contract or the supply would terminate, or any other thing would take place, because the company becomes subject to the relevant insolvency procedure, or</p></content></level><level class="para1"><num>(b)</num><content><p>the supplier would be entitled to terminate the contract or the supply, or to do any other thing, because the company becomes subject to the relevant insolvency procedure.</p></content></level></subsection><subsection><num>(4)</num><intro><p>Where—</p></intro><level class="para1"><num>(a)</num><content><p>under a provision of a contract for the supply of goods or services to the company the supplier is entitled to terminate the contract or the supply because of an event occurring before the start of the insolvency period, and</p></content></level><level class="para1"><num>(b)</num><content><p>the entitlement arises before the start of that period,</p></content></level><wrapUp><p>the entitlement may not be exercised during that period.</p></wrapUp></subsection><subsection><num>(5)</num><intro><p>Where a provision of a contract ceases to have effect under subsection (3) or an entitlement under a provision of a contract is not exercisable under subsection (4), the supplier may terminate the contract if—</p></intro><level class="para1"><num>(a)</num><content><p>in a case where the company has become subject to a relevant insolvency procedure as specified in subsection (2)(b), (c), (e) or (f), the office-holder consents to the termination of the contract,</p></content></level><level class="para1"><num>(b)</num><content><p>in any other case, the company consents to the termination of the contract, or</p></content></level><level class="para1"><num>(c)</num><content><p>the court is satisfied that the continuation of the contract would cause the supplier hardship and grants permission for the termination of the contract.</p></content></level></subsection><subsection><num>(6)</num><content><p>Where a provision of a contract ceases to have effect under subsection (3) and the company becomes subject to a further relevant insolvency procedure, the supplier may terminate the contract in accordance with subsection (5)(a) to (c).</p></content></subsection><subsection><num>(7)</num><content><p>The supplier shall not make it a condition of any supply of goods and services after the time when the company becomes subject to the relevant insolvency procedure, or do anything which has the effect of making it a condition of such a supply, that any outstanding charges in respect of a supply made to the company before that time are paid.</p></content></subsection><subsection><num>(8)</num><intro><p>In this section “<term refersTo="#term-the-insolvency-period">the insolvency period</term>”, in relation to a relevant insolvency procedure, means the period beginning when the company becomes subject to the relevant insolvency procedure and ending—</p></intro><level class="para1"><num>(a)</num><content><p>in the case of a moratorium under Part A1, when the moratorium comes to an end,</p></content></level><level class="para1"><num>(b)</num><intro><p>in the case of the company entering administration, when the appointment of the administrator ceases to have effect under—</p></intro><level class="para2"><num>(i)</num><content><p>paragraphs 76 to 84 of Schedule B1, or</p></content></level><level class="para2"><num>(ii)</num><content><p>an order under section 901F of the Companies Act 2006,</p></content></level></level><level class="para1"><num>(c)</num><content><p>in the case of the appointment of an administrative receiver of the company, when the receiver or any successor to the receiver ceases to hold office without a successor being appointed,</p></content></level><level class="para1"><num>(d)</num><content><p>in the case of a voluntary arrangement approved under Part 1 taking effect in relation to the company, when the arrangement ceases to have effect,</p></content></level><level class="para1"><num>(e)</num><intro><p>in the case of the company going into liquidation, when—</p></intro><level class="para2"><num>(i)</num><content><p>the liquidator complies with section 94(2), 106(2) or 146(3) (duties relating to final account), or</p></content></level><level class="para2"><num>(ii)</num><content><p>the appointment of the liquidator ceases to have effect under an order under section 901F of the Companies Act 2006,</p></content></level></level><level class="para1"><num>(f)</num><content><p>in the case of the appointment of a provisional liquidator for the company, when the provisional liquidator or any successor to the provisional liquidator ceases to hold office without a successor being appointed, and</p></content></level><level class="para1"><num>(g)</num><intro><p>in the case of the making of a court order under section 901C(1) of the Companies Act 2006 in relation to the company, when—</p></intro><level class="para2"><num>(i)</num><content><p>an order made by the court under section 901F of that Act takes effect, or</p></content></level><level class="para2"><num>(ii)</num><content><p>the court decides not to make such an order.</p></content></level></level></subsection><subsection><num>(9)</num><content><p>In this section “<term refersTo="#term-office-holder">office-holder</term>”, in relation to a company which has entered into an insolvency procedure as specified in subsection (2)(b), (c), (e) or (f), means the administrator, administrative receiver, liquidator or provisional liquidator respectively.</p></content></subsection><subsection><num>(10)</num><content><p>Schedule 4ZZA provides for exclusions from the operation of this section.</p></content></subsection></section><section><num>233C</num><heading>Powers to amend section 233B and Schedule 4ZZA</heading><subsection><num>(1)</num><content><p>The Secretary of State may by regulations omit any of paragraphs (a) to (g) of section 233B(2) (relevant insolvency procedures).</p></content></subsection><subsection><num>(2)</num><intro><p>The Secretary of State may by regulations amend Schedule 4ZZA so as to—</p></intro><level class="para1"><num>(a)</num><content><p>remove or amend any exclusion from section 233B for the time being specified there, or</p></content></level><level class="para1"><num>(b)</num><content><p>add further exclusions from section 233B.</p></content></level></subsection><subsection><num>(3)</num><content><p>In subsection (2), references to exclusions from section 233B are to circumstances in which section 233B, or any provision of that section, does not apply.</p></content></subsection><subsection><num>(4)</num><content><p>The circumstances referred to in subsection (3) may be framed by reference to kinds of company, supplier, contract, goods or services or in any other way.</p></content></subsection><subsection><num>(5)</num><intro><p>Regulations under this section may make—</p></intro><level class="para1"><num>(a)</num><content><p>different provision for different purposes;</p></content></level><level class="para1"><num>(b)</num><content><p>consequential provision;</p></content></level><level class="para1"><num>(c)</num><content><p>transitional and supplementary provision.</p></content></level></subsection><subsection><num>(6)</num><content><p>Regulations under this section made by virtue of subsection (5) may in particular make provision amending this Act or any other enactment whenever passed or made (including, if paragraph 1(1) or (2) of Schedule 4ZZA is omitted, provision omitting section 233A or 233 respectively).</p></content></subsection><subsection><num>(7)</num><content><p>Regulations under subsection (1) may not omit section 233B(2)(c) unless the Secretary of State has first consulted the Scottish Ministers.</p></content></subsection><subsection><num>(8)</num><content><p>In this section “<term refersTo="#term-enactment">enactment</term>” includes an Act of the Scottish Parliament and an instrument made under such an Act.</p></content></subsection><subsection><num>(9)</num><content><p>Regulations under this section are to be made by statutory instrument.</p></content></subsection><subsection><num>(10)</num><content><p>A statutory instrument containing regulations under this section may not be made unless a draft of the instrument has been laid before and approved by a resolution of each House of Parliament.</p></content></subsection></section></quotedStructure></mod></p></content></subsection>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-14-2"><num>(2)</num><content><p><mod>In the Insolvency Act 1986, in section 434 (Crown application), before “bind” insert <quotedText>“
and sections 233A and 233B and Schedule 4ZZA
”</quotedText>.</mod></p></content></subsection>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-14-3"><num>(3)</num><intro><p>Schedule 12—</p></intro><level class="para1" eId="section-14-3-a"><num>(a)</num><content><p>inserts a new Schedule into the Insolvency Act 1986 which provides for exclusions from the operation of section 233B of that Act, and</p></content></level><level class="para1" eId="section-14-3-b"><num>(b)</num><content><p>contains consequential amendments.</p></content></level></subsection>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-14-3-a"><num>(a)</num><content><p>inserts a new Schedule into the Insolvency Act 1986 which provides for exclusions from the operation of section 233B of that Act, and</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-14-3-b"><num>(b)</num><content><p>contains consequential amendments.</p></content></level>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-14-4"><num>(4)</num><content><p>The amendments made by this section and Schedule 12 have effect in relation to a company which becomes subject to a relevant insolvency procedure on or after the day on which this section comes into force (but in respect of contracts entered into before, as well as those entered into on or after, that day).</p></content></subsection>
<section xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" eId="section-15"><num>15</num><heading>Temporary exclusion for small suppliers: Great Britain</heading><subsection eId="section-15-1"><num>(1)</num><intro><p>Section 233B of the Insolvency Act 1986 does not apply in relation to a contract for the supply of goods or services to a company where—</p></intro><level class="para1" eId="section-15-1-a"><num>(a)</num><content><p>the company becomes subject to a relevant insolvency procedure during the relevant period, and</p></content></level><level class="para1" eId="section-15-1-b"><num>(b)</num><content><p>the supplier is a small entity at the time the company becomes subject to the procedure.</p></content></level></subsection><subsection eId="section-15-2"><num>(2)</num><intro><p>In subsection (1)(a) “<term refersTo="#term-relevant-period" eId="term-relevant-period">relevant period</term>” means the period which—</p></intro><level class="para1" eId="section-15-2-a"><num>(a)</num><content><p>begins with the day on which this section comes into force, and</p></content></level><level class="para1" eId="section-15-2-b"><num>(b)</num><content><p>ends with <ins class="substitution first last" ukl:ChangeId="key-be52f701b35a449d6d82ed1380122d13-1646751096268" ukl:CommentaryRef="key-be52f701b35a449d6d82ed1380122d13"><noteRef uk:name="commentary" href="#key-be52f701b35a449d6d82ed1380122d13" class="commentary"/>30 June 2021</ins>.</p></content></level></subsection><subsection eId="section-15-3"><num>(3)</num><content><p><mod>For the purposes of subsection (1)(b), whether the supplier is a “small entity” at the time the company becomes subject to a relevant insolvency procedure (the <quotedText>“
relevant time
”</quotedText>) is to be determined under subsections (4) to (10).</mod></p></content></subsection><subsection eId="section-15-4"><num>(4)</num><content><p>Where the supplier is not in its first financial year at the relevant time, the supplier is a small entity at the relevant time if at least two of the following conditions were met in relation to its most recent financial year—</p><blockList class="unordered none" ukl:Name="UnorderedList" ukl:Decoration="none"><item><p>Condition 1: the supplier's turnover was not more than £10.2 million;</p></item><item><p>Condition 2: the supplier's balance sheet total was not more than £5.1 million;</p></item><item><p>Condition 3: the number of the supplier's employees was not more than 50.</p></item></blockList></content></subsection><subsection eId="section-15-5"><num>(5)</num><content><p>For the purposes of Condition 1 in subsection (4), if the supplier's most recent financial year was not 12 months, the maximum figure for turnover must be proportionately adjusted.</p></content></subsection><subsection eId="section-15-6"><num>(6)</num><content><p>For the purposes of Condition 2 in subsection (4), the supplier's balance sheet total means the aggregate of the amounts shown as assets in the supplier's balance sheet.</p></content></subsection><subsection eId="section-15-7"><num>(7)</num><intro><p>For the purposes of Condition 3 in subsection (4), the number of the supplier's employees means the average number of persons employed by the supplier in its most recent financial year, determined as follows—</p></intro><level class="para1" eId="section-15-7-a"><num>(a)</num><content><p>find for each month in that financial year the number of persons employed under contracts of service by the supplier in that month (whether throughout the month or not),</p></content></level><level class="para1" eId="section-15-7-b"><num>(b)</num><content><p>add together the monthly totals, and</p></content></level><level class="para1" eId="section-15-7-c"><num>(c)</num><content><p>divide by the number of months in the financial year.</p></content></level></subsection><subsection eId="section-15-8"><num>(8)</num><content><p>In subsections (4) to (7) the supplier's “most recent financial year” is the financial year of the supplier which, at the relevant time, has ended most recently.</p></content></subsection><subsection eId="section-15-9"><num>(9)</num><content><p>Where the supplier is in its first financial year at the relevant time, the supplier is a small entity at the relevant time if at least two of the following conditions are met—</p><blockList class="unordered none" ukl:Name="UnorderedList" ukl:Decoration="none"><item><p>Condition 1: the supplier's average turnover for each complete month in the supplier's first financial year is not more than £850,000;</p></item><item><p>Condition 2: the aggregate of amounts which would be shown in a balance sheet of the supplier drawn up at the relevant time is not more than £5.1 million;</p></item><item><p>Condition 3: the average number of persons employed by the supplier in the supplier's first financial year (determined as specified in subsection (7)) is not more than 50.</p></item></blockList></content></subsection><subsection eId="section-15-10"><num>(10)</num><intro><p>In this section—</p></intro><hcontainer name="definition"><intro><p>“<term refersTo="#term-entity" eId="term-entity">entity</term>” means—</p></intro><level class="para1"><num>(a)</num><content><p>a company,</p></content></level><level class="para1"><num>(b)</num><content><p>a limited liability partnership,</p></content></level><level class="para1"><num>(c)</num><content><p>any other association or body of persons, whether or not incorporated, and</p></content></level><level class="para1"><num>(d)</num><content><p>an individual carrying on a trade or business;</p></content></level></hcontainer><hcontainer name="definition"><content><p>“<term refersTo="#term-relevant-insolvency-procedure" eId="term-relevant-insolvency-procedure">relevant insolvency procedure</term>” has the same meaning as in section 233B of the Insolvency Act 1986.</p></content></hcontainer></subsection><subsection eId="section-15-11"><num>(11)</num><content><p>This section has effect as if it were included in Part 6 of the Insolvency Act 1986.</p></content></subsection></section>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-15-1"><num>(1)</num><intro><p>Section 233B of the Insolvency Act 1986 does not apply in relation to a contract for the supply of goods or services to a company where—</p></intro><level class="para1" eId="section-15-1-a"><num>(a)</num><content><p>the company becomes subject to a relevant insolvency procedure during the relevant period, and</p></content></level><level class="para1" eId="section-15-1-b"><num>(b)</num><content><p>the supplier is a small entity at the time the company becomes subject to the procedure.</p></content></level></subsection>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-15-1-a"><num>(a)</num><content><p>the company becomes subject to a relevant insolvency procedure during the relevant period, and</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-15-1-b"><num>(b)</num><content><p>the supplier is a small entity at the time the company becomes subject to the procedure.</p></content></level>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" eId="section-15-2"><num>(2)</num><intro><p>In subsection (1)(a) “<term refersTo="#term-relevant-period" eId="term-relevant-period">relevant period</term>” means the period which—</p></intro><level class="para1" eId="section-15-2-a"><num>(a)</num><content><p>begins with the day on which this section comes into force, and</p></content></level><level class="para1" eId="section-15-2-b"><num>(b)</num><content><p>ends with <ins class="substitution first last" ukl:ChangeId="key-be52f701b35a449d6d82ed1380122d13-1646751096268" ukl:CommentaryRef="key-be52f701b35a449d6d82ed1380122d13"><noteRef uk:name="commentary" href="#key-be52f701b35a449d6d82ed1380122d13" class="commentary"/>30 June 2021</ins>.</p></content></level></subsection>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-15-2-a"><num>(a)</num><content><p>begins with the day on which this section comes into force, and</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" class="para1" eId="section-15-2-b"><num>(b)</num><content><p>ends with <ins class="substitution first last" ukl:ChangeId="key-be52f701b35a449d6d82ed1380122d13-1646751096268" ukl:CommentaryRef="key-be52f701b35a449d6d82ed1380122d13"><noteRef uk:name="commentary" href="#key-be52f701b35a449d6d82ed1380122d13" class="commentary"/>30 June 2021</ins>.</p></content></level>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-15-3"><num>(3)</num><content><p><mod>For the purposes of subsection (1)(b), whether the supplier is a “small entity” at the time the company becomes subject to a relevant insolvency procedure (the <quotedText>“
relevant time
”</quotedText>) is to be determined under subsections (4) to (10).</mod></p></content></subsection>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" eId="section-15-4"><num>(4)</num><content><p>Where the supplier is not in its first financial year at the relevant time, the supplier is a small entity at the relevant time if at least two of the following conditions were met in relation to its most recent financial year—</p><blockList class="unordered none" ukl:Name="UnorderedList" ukl:Decoration="none"><item><p>Condition 1: the supplier's turnover was not more than £10.2 million;</p></item><item><p>Condition 2: the supplier's balance sheet total was not more than £5.1 million;</p></item><item><p>Condition 3: the number of the supplier's employees was not more than 50.</p></item></blockList></content></subsection>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-15-5"><num>(5)</num><content><p>For the purposes of Condition 1 in subsection (4), if the supplier's most recent financial year was not 12 months, the maximum figure for turnover must be proportionately adjusted.</p></content></subsection>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-15-6"><num>(6)</num><content><p>For the purposes of Condition 2 in subsection (4), the supplier's balance sheet total means the aggregate of the amounts shown as assets in the supplier's balance sheet.</p></content></subsection>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-15-7"><num>(7)</num><intro><p>For the purposes of Condition 3 in subsection (4), the number of the supplier's employees means the average number of persons employed by the supplier in its most recent financial year, determined as follows—</p></intro><level class="para1" eId="section-15-7-a"><num>(a)</num><content><p>find for each month in that financial year the number of persons employed under contracts of service by the supplier in that month (whether throughout the month or not),</p></content></level><level class="para1" eId="section-15-7-b"><num>(b)</num><content><p>add together the monthly totals, and</p></content></level><level class="para1" eId="section-15-7-c"><num>(c)</num><content><p>divide by the number of months in the financial year.</p></content></level></subsection>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-15-7-a"><num>(a)</num><content><p>find for each month in that financial year the number of persons employed under contracts of service by the supplier in that month (whether throughout the month or not),</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-15-7-b"><num>(b)</num><content><p>add together the monthly totals, and</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-15-7-c"><num>(c)</num><content><p>divide by the number of months in the financial year.</p></content></level>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-15-8"><num>(8)</num><content><p>In subsections (4) to (7) the supplier's “most recent financial year” is the financial year of the supplier which, at the relevant time, has ended most recently.</p></content></subsection>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" eId="section-15-9"><num>(9)</num><content><p>Where the supplier is in its first financial year at the relevant time, the supplier is a small entity at the relevant time if at least two of the following conditions are met—</p><blockList class="unordered none" ukl:Name="UnorderedList" ukl:Decoration="none"><item><p>Condition 1: the supplier's average turnover for each complete month in the supplier's first financial year is not more than £850,000;</p></item><item><p>Condition 2: the aggregate of amounts which would be shown in a balance sheet of the supplier drawn up at the relevant time is not more than £5.1 million;</p></item><item><p>Condition 3: the average number of persons employed by the supplier in the supplier's first financial year (determined as specified in subsection (7)) is not more than 50.</p></item></blockList></content></subsection>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-15-10"><num>(10)</num><intro><p>In this section—</p></intro><hcontainer name="definition"><intro><p>“<term refersTo="#term-entity" eId="term-entity">entity</term>” means—</p></intro><level class="para1"><num>(a)</num><content><p>a company,</p></content></level><level class="para1"><num>(b)</num><content><p>a limited liability partnership,</p></content></level><level class="para1"><num>(c)</num><content><p>any other association or body of persons, whether or not incorporated, and</p></content></level><level class="para1"><num>(d)</num><content><p>an individual carrying on a trade or business;</p></content></level></hcontainer><hcontainer name="definition"><content><p>“<term refersTo="#term-relevant-insolvency-procedure" eId="term-relevant-insolvency-procedure">relevant insolvency procedure</term>” has the same meaning as in section 233B of the Insolvency Act 1986.</p></content></hcontainer></subsection>
<hcontainer xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" name="definition"><content><p>“<term refersTo="#term-the-assembly" eId="term-the-assembly">the Assembly</term>” means the Northern Ireland Assembly;</p></content></hcontainer>
<hcontainer xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" name="definition"><intro><p>“<term refersTo="#term-person-with-corporate-responsibility" eId="term-person-with-corporate-responsibility">person with corporate responsibility</term>” means—</p></intro><level class="para1"><num>(a)</num><content><p>in relation to a company, a director, manager, secretary or other officer of the body,</p></content></level><level class="para1"><num>(b)</num><content><p>in relation to a partnership or limited liability partnership, a partner or member, and</p></content></level><level class="para1"><num>(c)</num><content><p>in relation to any other entity, a person with responsibility for managing the entity;</p></content></level></hcontainer>
<hcontainer xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" name="crossheading" class="schGroup7"><heading>Timing of statements for obtaining moratorium</heading><paragraph eId="schedule-8-paragraph-17" class="schProv1"><num>17</num><content><p>Each statement under Article <ref href="#d25e5705">13BC</ref><ref href="#d25e449">(1)(b)</ref> to <ref href="#d25e479">(e)</ref> of the Insolvency (Northern Ireland) Order 1989 must be made within the period of 5 days ending with the day on which the documents under Article <ref href="#d25e5705">13BC</ref><ref href="#d25e443">(1)(a)</ref> to <ref href="#d25e479">(e)</ref> are filed with the High Court (or, if the documents are filed on different days, the last of those days).</p></content></paragraph></hcontainer>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-4-paragraph-30" class="schProv1"><num>30</num><content><p>A statement under section <ref href="#d25e1090">A13</ref><ref href="#d25e1100">(2)</ref> must be made within the period of 3 days ending with the day on which the application under that section is made.</p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-4-paragraph-48" class="schProv1"><num>48</num><subparagraph eId="schedule-4-paragraph-48-1"><num>(1)</num><intro><p>Where a provision of this Part of this Schedule requires a document to contain identification details for a company that is registered under the Companies Act 2006 in England and Wales, the following information must be given—</p></intro><level class="para1" eId="schedule-4-paragraph-48-1-a"><num>(a)</num><content><p>the company’s registered name;</p></content></level><level class="para1" eId="schedule-4-paragraph-48-1-b"><num>(b)</num><content><p>its registered number;</p></content></level></subparagraph><subparagraph eId="schedule-4-paragraph-48-2"><num>(2)</num><intro><p>Where a provision of this Part of this Schedule requires a document to contain identification details for a company that has registered particulars under section 1046(1) of the Companies Act 2006 (registered overseas companies), the following information must be given—</p></intro><level class="para1" eId="schedule-4-paragraph-48-2-a"><num>(a)</num><content><p>the name registered by the company under section 1047 of that Act,</p></content></level><level class="para1" eId="schedule-4-paragraph-48-2-b"><num>(b)</num><content><p>the number under which it is registered, and</p></content></level><level class="para1" eId="schedule-4-paragraph-48-2-c"><num>(c)</num><content><p>the country or territory in which it is incorporated.</p></content></level></subparagraph><subparagraph eId="schedule-4-paragraph-48-3"><num>(3)</num><intro><p>Where a provision of this Part of this Schedule requires a document to contain identification details for an unregistered company that does not come within sub-paragraph (2) the following information must be given—</p></intro><level class="para1" eId="schedule-4-paragraph-48-3-a"><num>(a)</num><content><p>the company’s name, and</p></content></level><level class="para1" eId="schedule-4-paragraph-48-3-b"><num>(b)</num><content><p>the postal address of any principal place of business.</p></content></level></subparagraph></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-4-paragraph-51" class="schProv1"><num>51</num><content><p>Expressions used in this Part of this Schedule are to be construed as if this Part of this Schedule were contained in Part A1 of the Insolvency Act 1986.</p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-8-paragraph-14" class="schProv1"><num>14</num><subparagraph eId="schedule-8-paragraph-14-1"><num>(1)</num><content><p>A notice or statement under Article <ref href="#d25e5705">13BC</ref><ref href="#d25e5709">(1)</ref>, <ref href="#d25e6113">13CA</ref><ref href="#d25e6117">(1)</ref>, <ref href="#d25e6192">13CB</ref><ref href="#d25e6196">(1)</ref> or <ref href="#d25e6377">13CD</ref><ref href="#d25e6387">(2)</ref> of the Insolvency (Northern Ireland) Order 1989 must be authenticated by or on behalf of the person giving the notice or making the statement (see paragraph <ref href="#schedule-8-paragraph-49">49</ref>).</p></content></subparagraph><subparagraph eId="schedule-8-paragraph-14-2"><num>(2)</num><content><p>A notice under Article <ref href="#d25e5890">13BE</ref><ref href="#d25e5909">(2)(a)</ref> of the Insolvency (Northern Ireland) Order 1989 must be authenticated by the monitor (see paragraph <ref href="#schedule-8-paragraph-49">49</ref>).</p></content></subparagraph></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-8-paragraph-17" class="schProv1"><num>17</num><content><p>Each statement under Article <ref href="#d25e5705">13BC</ref><ref href="#d25e449">(1)(b)</ref> to <ref href="#d25e479">(e)</ref> of the Insolvency (Northern Ireland) Order 1989 must be made within the period of 5 days ending with the day on which the documents under Article <ref href="#d25e5705">13BC</ref><ref href="#d25e443">(1)(a)</ref> to <ref href="#d25e479">(e)</ref> are filed with the High Court (or, if the documents are filed on different days, the last of those days).</p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-8-paragraph-20" class="schProv1"><num>20</num><content><p>A statement by the monitor under Article <ref href="#d25e6113">13CA</ref><ref href="#d25e6156">(1)(d)</ref> or <ref href="#d25e6192">13CB</ref><ref href="#d25e6235">(1)(d)</ref> of the Insolvency (Northern Ireland) Order 1989 must contain contact details of the monitor.</p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-7-paragraph-1" class="schProv1"><num>1</num><content><p>The Insolvency (Northern Ireland) Order 1989 is amended as follows.</p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" xmlns:default="http://www.w3.org/1999/xhtml" xmlns:fo="http://www.w3.org/1999/XSL/Format" eId="schedule-7-paragraph-32" class="schProv1"><num>32</num><content><p><mod>In Schedule 2 to the Financial Services and Markets Act 2000 (Disclosure of Confidential Information) Regulations 2001 (<ref eId="c00093" href="http://www.legislation.gov.uk/id/uksi/2001/2188">S.I. 2001/2188</ref>) (disclosure of confidential information), at the end of the table (after the entry inserted by Schedule 3) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="schedule" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="schedule" ukl:Format="double"><tblock class="table" ukl:Orientation="portrait"><foreign><default:table xmlns="http://www.w3.org/1999/xhtml"><default:col span="1" style="width:54%"/><default:col span="1" style="width:46%"/><default:tbody><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">The monitor in relation to a moratorium under Part 1A of the Insolvency (Northern Ireland) Order 1989</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">The monitor’s functions in relation to the moratorium</p></default:td></default:tr></default:tbody></default:table></foreign></tblock></quotedStructure><inline name="appendText">.</inline></mod></p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-7-paragraph-35" class="schProv1"><num>35</num><content><p>The Insolvency (Northern Ireland) Order 2005 is amended as follows.</p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-8-paragraph-5" class="schProv1"><num>5</num><intro><p>During the relevant period, a company is not eligible for the purposes of Article <ref href="#d25e5540">13B</ref>, <ref href="#d25e5592">13BA</ref> or <ref href="#d25e5647">13BB</ref> of the Insolvency (Northern Ireland) Order 1989 if the company—</p></intro><level class="para1" eId="schedule-8-paragraph-5-a"><num>(a)</num><content><p>has permission under Part 4A of the Financial Services and Markets Act 2000 to carry on a regulated activity within the meaning of that Act, and</p></content></level><level class="para1" eId="schedule-8-paragraph-5-b"><num>(b)</num><content><p>is not subject to a requirement imposed under that Act to refrain from holding money for clients.</p></content></level></paragraph>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="schedule-8-paragraph-5-a"><num>(a)</num><content><p>has permission under Part 4A of the Financial Services and Markets Act 2000 to carry on a regulated activity within the meaning of that Act, and</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="schedule-8-paragraph-5-b"><num>(b)</num><content><p>is not subject to a requirement imposed under that Act to refrain from holding money for clients.</p></content></level>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-8-paragraph-13" class="schProv1"><num>13</num><intro><p>A notice or statement under Article <ref href="#d25e5705">13BC</ref><ref href="#d25e5709">(1)</ref>, <ref href="#d25e5890">13BE</ref><ref href="#d25e5900">(2)</ref>, <ref href="#d25e6113">13CA</ref><ref href="#d25e6117">(1)</ref>, <ref href="#d25e6192">13CB</ref><ref href="#d25e6196">(1)</ref> or <ref href="#d25e6377">13CD</ref><ref href="#d25e6387">(2)</ref> of the Insolvency (Northern Ireland) Order 1989 must state—</p></intro><level class="para1" eId="schedule-8-paragraph-13-a"><num>(a)</num><content><p>the provision under which it is given or made,</p></content></level><level class="para1" eId="schedule-8-paragraph-13-b"><num>(b)</num><content><p>the nature of the notice or statement,</p></content></level><level class="para1" eId="schedule-8-paragraph-13-c"><num>(c)</num><content><p>the date of the notice or statement, and</p></content></level><level class="para1" eId="schedule-8-paragraph-13-d"><num>(d)</num><content><p>the identification details for the company to which it relates.</p></content></level></paragraph>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="schedule-8-paragraph-13-a"><num>(a)</num><content><p>the provision under which it is given or made,</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="schedule-8-paragraph-13-b"><num>(b)</num><content><p>the nature of the notice or statement,</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="schedule-8-paragraph-13-c"><num>(c)</num><content><p>the date of the notice or statement, and</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="schedule-8-paragraph-13-d"><num>(d)</num><content><p>the identification details for the company to which it relates.</p></content></level>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-8-paragraph-16" class="schProv1"><num>16</num><subparagraph eId="schedule-8-paragraph-16-1"><num>(1)</num><intro><p>A statement under Article <ref href="#d25e5705">13BC</ref><ref href="#d25e5721">(1)(b)</ref> of the Insolvency (Northern Ireland) Order 1989 must be headed “Proposed monitor’s statement and consent to act” and must contain the following—</p></intro><level class="para1" eId="schedule-8-paragraph-16-1-a"><num>(a)</num><content><p>a certificate that the proposed monitor is qualified to act as an insolvency practitioner in relation to the company,</p></content></level><level class="para1" eId="schedule-8-paragraph-16-1-b"><num>(b)</num><content><p>the proposed monitor’s IP number,</p></content></level><level class="para1" eId="schedule-8-paragraph-16-1-c"><num>(c)</num><content><p>the name of the relevant recognised professional body which is the source of the proposed monitor’s authorisation to act in relation to the company, and</p></content></level><level class="para1" eId="schedule-8-paragraph-16-1-d"><num>(d)</num><content><p>a statement that the proposed monitor consents to act as monitor in relation to the company.</p></content></level></subparagraph><subparagraph eId="schedule-8-paragraph-16-2"><num>(2)</num><content><p>In this paragraph “IP number” means the identifying number or reference issued to the insolvency practitioner by a professional body recognised under Article 350 of the Insolvency (Northern Ireland) Order 1989.</p></content></subparagraph></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-8-paragraph-19" class="schProv1"><num>19</num><content><p>A notice under Article <ref href="#d25e6113">13CA</ref><ref href="#d25e6123">(1)(a)</ref> or <ref href="#d25e6192">13CB</ref><ref href="#d25e6202">(1)(a)</ref> of the Insolvency (Northern Ireland) Order 1989 must state the company’s address for service.</p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-8-paragraph-22" class="schProv1"><num>22</num><content><p>If a meeting under Article 13CC(2) of the Insolvency (Northern Ireland) Order 1989 is held during the relevant period (within the meaning given by paragraph 1), paragraph 3 of Schedule 14 applies to the meeting as if it were a meeting within sub-paragraph (2) of that paragraph (even if the meeting is not held within the relevant period within the meaning of that Schedule).</p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-8-paragraph-33" class="schProv1"><num>33</num><subparagraph eId="schedule-8-paragraph-33-1"><num>(1)</num><content><p>A notice under Article <ref href="#d25e6751">13CH</ref><ref href="#d25e6755">(1)</ref> of the Insolvency (Northern Ireland) Order 1989 must be given within the period of 5 days beginning with the day on which the duty to give the notice arises.</p></content></subparagraph><subparagraph eId="schedule-8-paragraph-33-2"><num>(2)</num><intro><p>The notice must state—</p></intro><level class="para1" eId="schedule-8-paragraph-33-2-a"><num>(a)</num><content><p>the name of the company to which it relates, and</p></content></level><level class="para1" eId="schedule-8-paragraph-33-2-b"><num>(b)</num><content><p>the provision by virtue of which the moratorium was extended or came to an end.</p></content></level></subparagraph></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-11-paragraph-2" class="schProv1"><num>2</num><subparagraph eId="schedule-11-paragraph-2-1"><num>(1)</num><content><p>A creditor may not during the relevant period present a petition under Article 104 of the 1989 Order for the winding up of a registered company on a ground specified in Article 103(1)(a) to (d) of that Order (“the relevant ground”), unless the condition in sub-paragraph <ref href="#schedule-11-paragraph-2-2">(2)</ref> is met.</p></content></subparagraph><subparagraph eId="schedule-11-paragraph-2-2"><num>(2)</num><intro><p>The condition referred to in sub-paragraph <ref href="#schedule-11-paragraph-2-1">(1)</ref> is that the creditor has reasonable grounds for believing that—</p></intro><level class="para1" eId="schedule-11-paragraph-2-2-a"><num>(a)</num><content><p>coronavirus has not had a financial effect on the company, or</p></content></level><level class="para1" eId="schedule-11-paragraph-2-2-b"><num>(b)</num><content><p>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.</p></content></level></subparagraph><subparagraph eId="schedule-11-paragraph-2-3"><num>(3)</num><content><p>A creditor may not during the relevant period present a petition under Article 104 of the 1989 Order for the winding up of a registered company on the ground specified in Article 103(1)(e) or (2) of that Order (“the relevant ground”), unless the condition in sub-paragraph <ref href="#schedule-11-paragraph-2-4">(4)</ref> is met.</p></content></subparagraph><subparagraph eId="schedule-11-paragraph-2-4"><num>(4)</num><intro><p>The condition referred to in sub-paragraph <ref href="#schedule-11-paragraph-2-3">(3)</ref> is that the creditor has reasonable grounds for believing that—</p></intro><level class="para1" eId="schedule-11-paragraph-2-4-a"><num>(a)</num><content><p>coronavirus has not had a financial effect on the company, or</p></content></level><level class="para1" eId="schedule-11-paragraph-2-4-b"><num>(b)</num><content><p>the relevant ground would apply even if coronavirus had not had a financial effect on the company.</p></content></level></subparagraph><subparagraph eId="schedule-11-paragraph-2-5"><num>(5)</num><content><p>This paragraph is to be regarded as having come into force on 27 April 2020.</p></content></subparagraph></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-11-paragraph-5" class="schProv1"><num>5</num><subparagraph eId="schedule-11-paragraph-5-1"><num>(1)</num><intro><p>This paragraph applies where—</p></intro><level class="para1" eId="schedule-11-paragraph-5-1-a"><num>(a)</num><content><p>a creditor presents a petition for the winding up of a registered company under Article 104 of the 1989 Order in the relevant period,</p></content></level><level class="para1" eId="schedule-11-paragraph-5-1-b"><num>(b)</num><content><p>the company is deemed unable to pay its debts on a ground specified in Article 103(1) or (2) of that Order, and</p></content></level><level class="para1" eId="schedule-11-paragraph-5-1-c"><num>(c)</num><content><p>it appears to the High Court that coronavirus had a financial effect on the company before the presentation of the petition.</p></content></level></subparagraph><subparagraph eId="schedule-11-paragraph-5-2"><num>(2)</num><content><p>The High Court may wind the company up under Article 102(f) of the 1989 Order on a ground specified in Article 103(1)(a) to (d) of that Order only if the Court is satisfied that the facts by reference to which that ground applies would have arisen even if coronavirus had not had a financial effect on the company.</p></content></subparagraph><subparagraph eId="schedule-11-paragraph-5-3"><num>(3)</num><content><p>The High Court may wind the company up under Article 102(f) of the 1989 Order on the ground specified in Article 103(1)(e) or (2) of that Order only if the Court is satisfied that the ground would apply even if coronavirus had not had a financial effect on the company.</p></content></subparagraph><subparagraph eId="schedule-11-paragraph-5-4"><num>(4)</num><content><p>This paragraph is to be regarded as having come into force on 27 April 2020.</p></content></subparagraph></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-11-paragraph-8" class="schProv1"><num>8</num><subparagraph eId="schedule-11-paragraph-8-1"><num>(1)</num><intro><p>Paragraphs <ref href="#schedule-11-paragraph-9">9</ref> to <ref href="#schedule-11-paragraph-16">16</ref> apply where—</p></intro><level class="para1" eId="schedule-11-paragraph-8-1-a"><num>(a)</num><content><p>a creditor presents a petition under Article 104 of the 1989 Order during the relevant period in relation to a registered or unregistered company, and</p></content></level><level class="para1" eId="schedule-11-paragraph-8-1-b"><num>(b)</num><content><p>the High Court makes an order under Article 102(f) or 185(4)(b) of that Order (“the winding-up order”).</p></content></level></subparagraph><subparagraph eId="schedule-11-paragraph-8-2"><num>(2)</num><content><p>Paragraphs <ref href="#schedule-11-paragraph-9">9</ref> to <ref href="#schedule-11-paragraph-16">16</ref> are to be regarded as having come into force on 27 April 2020.</p></content></subparagraph></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" eId="schedule-7-paragraph-2" class="schProv1"><num>2</num><content><p>In each of the following places, for “Parts II to VII” substitute “Parts 1A to 7”—</p><blockList class="unordered none" ukl:Name="UnorderedList" ukl:Decoration="none"><item><p>the heading before Article 5;</p></item><item><p>Article 5(1);</p></item><item><p>Article 6(1) and (2);</p></item><item><p>Article 7;</p></item><item><p>Article 8;</p></item><item><p>the heading before Parts 2 to 7;</p></item><item><p>Article 315(6);</p></item><item><p>Article 366(1);</p></item><item><p>Article 374(1).</p></item></blockList></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" eId="schedule-7-paragraph-36" class="schProv1"><num>36</num><subparagraph eId="schedule-7-paragraph-36-1"><num>(1)</num><content><p>Article 10 is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-7-paragraph-36-2"><num>(2)</num><content><p>At the end of the heading insert “etc”.</p></content></subparagraph><subparagraph eId="schedule-7-paragraph-36-3"><num>(3)</num><intro><p>In paragraph (2)—</p></intro><level class="para1" eId="schedule-7-paragraph-36-3-a"><num>(a)</num><content><p><mod>after “by order provide for” insert <quotedText startQuote="“">—</quotedText><quotedStructure endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="order" ukl:Context="main" ukl:Format="double"><level class="para1"><num>(i)</num><content><p>Part 1A of the 1989 Order (moratorium), or</p></content></level></quotedStructure><inline name="appendText">;</inline></mod></p></content></level><level class="para1" eId="schedule-7-paragraph-36-3-b"><num>(b)</num><content><p>the words “a company arrangement or administration provision” become sub-paragraph (ii) of that paragraph.</p></content></level></subparagraph></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-8-paragraph-23" class="schProv1"><num>23</num><subparagraph eId="schedule-8-paragraph-23-1"><num>(1)</num><content><p>In their application for the purposes of a decision by pre-moratorium creditors to consent to a revised end date for a moratorium under Article 13CC of the Insolvency (Northern Ireland) Order 1989, the Insolvency Rules have effect with the following modifications.</p></content></subparagraph><subparagraph eId="schedule-8-paragraph-23-2"><num>(2)</num><content><p>References to creditors are to be read as references to the pre-moratorium creditors.</p></content></subparagraph><subparagraph eId="schedule-8-paragraph-23-3"><num>(3)</num><intro><p>The following rules have effect with the further modifications set out in paragraphs <ref href="#schedule-8-paragraph-24">24</ref> to 30—</p></intro><level class="para1" eId="schedule-8-paragraph-23-3-a"><num>(a)</num><content><p>Rule 4.061;</p></content></level><level class="para1" eId="schedule-8-paragraph-23-3-b"><num>(b)</num><content><p>Rule 4.062;</p></content></level><level class="para1" eId="schedule-8-paragraph-23-3-c"><num>(c)</num><content><p>Rule 4.065;</p></content></level><level class="para1" eId="schedule-8-paragraph-23-3-d"><num>(d)</num><content><p>Rule 4.068;</p></content></level><level class="para1" eId="schedule-8-paragraph-23-3-e"><num>(e)</num><content><p>Rule 4.070;</p></content></level><level class="para1" eId="schedule-8-paragraph-23-3-f"><num>(f)</num><content><p>Rule 4.073;</p></content></level><level class="para1" eId="schedule-8-paragraph-23-3-g"><num>(g)</num><content><p>Rule 4.077.</p></content></level></subparagraph></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-8-paragraph-34" class="schProv1"><num>34</num><subparagraph eId="schedule-8-paragraph-34-1"><num>(1)</num><content><p>A notice under Article <ref href="#d25e6751">13CH</ref><ref href="#d25e6897">(2)</ref> or <ref href="#d25e6914">(3)</ref> of the Insolvency (Northern Ireland) Order 1989 must be given within the period of 5 days beginning with the day on which the duty to give the notice arises.</p></content></subparagraph><subparagraph eId="schedule-8-paragraph-34-2"><num>(2)</num><intro><p>The notice must state—</p></intro><level class="para1" eId="schedule-8-paragraph-34-2-a"><num>(a)</num><content><p>the provision under which it is given,</p></content></level><level class="para1" eId="schedule-8-paragraph-34-2-b"><num>(b)</num><content><p>the nature of the notice,</p></content></level><level class="para1" eId="schedule-8-paragraph-34-2-c"><num>(c)</num><content><p>the date of the notice,</p></content></level><level class="para1" eId="schedule-8-paragraph-34-2-d"><num>(d)</num><content><p>that it is given by the monitor acting in that capacity,</p></content></level><level class="para1" eId="schedule-8-paragraph-34-2-e"><num>(e)</num><content><p>the name and contact details of the monitor, and</p></content></level><level class="para1" eId="schedule-8-paragraph-34-2-f"><num>(f)</num><content><p>the identification details for the company to which it relates.</p></content></level></subparagraph><subparagraph eId="schedule-8-paragraph-34-3"><num>(3)</num><content><p>A notice under Article <ref href="#d25e6751">13CH</ref><ref href="#d25e6897">(2)</ref> or <ref href="#d25e6914">(3)</ref> of the Insolvency (Northern Ireland) Order 1989 that is given to the registrar must be authenticated by or on behalf of the monitor (see paragraph <ref href="#schedule-8-paragraph-49">49</ref>).</p></content></subparagraph></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-11-paragraph-9" class="schProv1"><num>9</num><content><p>If the winding up would by virtue of Article 109(2) of the 1989 Order be deemed to commence at the time of the presentation of the petition, the winding up is instead for the purposes of that Order to be deemed to commence on the making of the winding-up order.</p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-7-paragraph-3" class="schProv1"><num>3</num><intro><p>In Article 2(2), in the definition of “regulations”—</p></intro><level class="para1" eId="schedule-7-paragraph-3-a"><num>(a)</num><content><p>after “(except in” insert “Part 1A, Article 148A(6),”;</p></content></level><level class="para1" eId="schedule-7-paragraph-3-b"><num>(b)</num><content><p>omit “and paragraph 16 of Schedule A1”.</p></content></level></paragraph>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="schedule-7-paragraph-3-a"><num>(a)</num><content><p>after “(except in” insert “Part 1A, Article 148A(6),”;</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="schedule-7-paragraph-3-b"><num>(b)</num><content><p>omit “and paragraph 16 of Schedule A1”.</p></content></level>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-7-paragraph-37" class="schProv1"><num>37</num><content><p>Omit Article 11.</p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" eId="schedule-8-paragraph-24" class="schProv1"><num>24</num><content><p><mod>Rule 4.061 has effect as if for paragraphs (1) to (6) there were substituted—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="rule" ukl:Context="main" ukl:Format="double"><paragraph><num>(1)</num><content><p>For the purposes of Rules 4.061 to 4.077 the directors summoning a meeting of pre-moratorium creditors under Article 13CC of the Order are referred to (collectively) as “the convener”.</p></content></paragraph><paragraph><num>(2)</num><content><p>When a venue for such a meeting has been fixed, notice of it must be given by the convener to every pre-moratorium creditor who is known to the convener.</p></content></paragraph><paragraph><num>(3)</num><content><p>Notice of the meeting must be given at least 5 days before the date fixed for it, and must specify the purpose of the meeting.</p></content></paragraph><paragraph><num>(4)</num><content><p>The notice shall state that proofs and (if applicable) proxies shall be lodged at a specified place not later than 12.00 hours on the business day before the date fixed for the meeting in order for pre-moratorium creditors to be entitled to vote at the meeting.</p></content></paragraph></quotedStructure></mod></p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-8-paragraph-35" class="schProv1"><num>35</num><intro><p>Where a moratorium comes to an end under Article <ref href="#d25e6687">13CG</ref> of the Insolvency (Northern Ireland) Order 1989 because the company has entered into a relevant insolvency procedure within the meaning of that Article, the notices under Article <ref href="#d25e6751">13CH</ref><ref href="#d25e6755">(1)</ref> and <ref href="#d25e6897">(2)</ref> must state—</p></intro><level class="para1" eId="schedule-8-paragraph-35-a"><num>(a)</num><content><p>the date on which the company entered into the relevant insolvency procedure, and</p></content></level><level class="para1" eId="schedule-8-paragraph-35-b"><num>(b)</num><content><p>the name and contact details of the supervisor of the voluntary arrangement, the administrator or the liquidator.</p></content></level></paragraph>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="schedule-8-paragraph-35-a"><num>(a)</num><content><p>the date on which the company entered into the relevant insolvency procedure, and</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="schedule-8-paragraph-35-b"><num>(b)</num><content><p>the name and contact details of the supervisor of the voluntary arrangement, the administrator or the liquidator.</p></content></level>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-11-paragraph-10" class="schProv1"><num>10</num><intro><p>In Article 61 of the 1989 Order (liability as contributories of present and past members), paragraph (2)(a) has effect as if the reference to one year or more before the commencement of the winding up were to—</p></intro><level class="para1" eId="schedule-11-paragraph-10-a"><num>(a)</num><content><p>one year or more before the day on which the petition was presented, or</p></content></level><level class="para1" eId="schedule-11-paragraph-10-b"><num>(b)</num><content><p>if the winding-up order was made more than 6 months after the day on which the petition was presented, 18 months or more before the day on which the winding-up order was made.</p></content></level></paragraph>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="schedule-11-paragraph-10-a"><num>(a)</num><content><p>one year or more before the day on which the petition was presented, or</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="schedule-11-paragraph-10-b"><num>(b)</num><content><p>if the winding-up order was made more than 6 months after the day on which the petition was presented, 18 months or more before the day on which the winding-up order was made.</p></content></level>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" eId="schedule-7-paragraph-4" class="schProv1"><num>4</num><subparagraph eId="schedule-7-paragraph-4-1"><num>(1)</num><content><p>Article 3 (meaning of “act as insolvency practitioner”) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-7-paragraph-4-2"><num>(2)</num><content><p>In paragraph (1)(a), for “or administrative receiver” substitute “, administrative receiver or monitor”.</p></content></subparagraph><subparagraph eId="schedule-7-paragraph-4-3"><num>(3)</num><content><p><mod>In paragraph (4), at the appropriate place insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="double"><hcontainer name="definition"><content><p>“monitor” has the same meaning as in Part 1A (moratorium).</p></content></hcontainer></quotedStructure></mod></p></content></subparagraph></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-7-paragraph-38" class="schProv1"><num>38</num><content><p>In Schedule 2, omit paragraph 45.</p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" eId="schedule-8-paragraph-25" class="schProv1"><num>25</num><content><p><mod>Rule 4.062 has effect as if for paragraphs (2) to (5) there were substituted—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="rule" ukl:Context="main" ukl:Format="double"><paragraph><num>(2)</num><content><p>The convener must nominate a person to act as chairman.</p></content></paragraph></quotedStructure></mod></p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-8-paragraph-36" class="schProv1"><num>36</num><subparagraph eId="schedule-8-paragraph-36-1"><num>(1)</num><content><p>A notice under Article <ref href="#d25e6751">13CH</ref><ref href="#d25e6920">(4)</ref> of the Insolvency (Northern Ireland) Order 1989 must be given within the period of 3 business days beginning with the day on which the notice under Article <ref href="#d25e8629">13ED</ref>(1) of that Order is filed with the High Court.</p></content></subparagraph><subparagraph eId="schedule-8-paragraph-36-2"><num>(2)</num><content><p>The notice under Article <ref href="#d25e6751">13CH</ref><ref href="#d25e6920">(4)</ref> of that Order must be accompanied by the notice that the monitor has filed with the High Court under Article <ref href="#d25e8629">13ED</ref>(1) of that Order.</p></content></subparagraph></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-11-paragraph-11" class="schProv1"><num>11</num><intro><p>In Article 170 of the 1989 Order (fraud etc in anticipation of winding up), paragraph (1) has effect as if the reference to 12 months immediately preceding the commencement of the winding up were to a period which—</p></intro><level class="para1" eId="schedule-11-paragraph-11-a"><num>(a)</num><intro><p>begins with whichever is the later of—</p></intro><level class="para2" eId="schedule-11-paragraph-11-a-i"><num>(i)</num><content><p>the day 12 months before the day on which the petition was presented, and</p></content></level><level class="para2" eId="schedule-11-paragraph-11-a-ii"><num>(ii)</num><content><p>the day 18 months before the day on which the winding-up order was made, and</p></content></level></level><level class="para1" eId="schedule-11-paragraph-11-b"><num>(b)</num><content><p>ends with the day on which the winding-up order was made.</p></content></level></paragraph>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="schedule-11-paragraph-11-a"><num>(a)</num><intro><p>begins with whichever is the later of—</p></intro><level class="para2" eId="schedule-11-paragraph-11-a-i"><num>(i)</num><content><p>the day 12 months before the day on which the petition was presented, and</p></content></level><level class="para2" eId="schedule-11-paragraph-11-a-ii"><num>(ii)</num><content><p>the day 18 months before the day on which the winding-up order was made, and</p></content></level></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para2" eId="schedule-11-paragraph-11-a-i"><num>(i)</num><content><p>the day 12 months before the day on which the petition was presented, and</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para2" eId="schedule-11-paragraph-11-a-ii"><num>(ii)</num><content><p>the day 18 months before the day on which the winding-up order was made, and</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="schedule-11-paragraph-11-b"><num>(b)</num><content><p>ends with the day on which the winding-up order was made.</p></content></level>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-7-paragraph-5" class="schProv1"><num>5</num><content><p>In Article 6 (meaning of “insolvency” etc), in paragraph (1), after “includes” insert “the coming into force of a moratorium for the company under Part 1A,”.</p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-8-paragraph-26" class="schProv1"><num>26</num><content><p>Rule 4.065 has effect as if, in paragraph (2), for “21 days” there were substituted “5 days”.</p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-11-paragraph-12" class="schProv1"><num>12</num><intro><p>In Article 171 of the 1989 Order (transactions in fraud of creditors), paragraph (1)(a) has effect as if the reference to 5 years immediately preceding the commencement of the winding up were to—</p></intro><level class="para1" eId="schedule-11-paragraph-12-a"><num>(a)</num><content><p>5 years immediately preceding the day on which the petition was presented, or</p></content></level><level class="para1" eId="schedule-11-paragraph-12-b"><num>(b)</num><content><p>if the winding-up order was made more than 6 months after the day on which the petition was presented, 5 years and 6 months immediately preceding the day on which the winding-up order was made.</p></content></level></paragraph>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="schedule-11-paragraph-12-a"><num>(a)</num><content><p>5 years immediately preceding the day on which the petition was presented, or</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="schedule-11-paragraph-12-b"><num>(b)</num><content><p>if the winding-up order was made more than 6 months after the day on which the petition was presented, 5 years and 6 months immediately preceding the day on which the winding-up order was made.</p></content></level>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-7-paragraph-6" class="schProv1"><num>6</num><content><p>Omit Article 14A (moratorium where directors propose voluntary arrangement).</p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" eId="schedule-8-paragraph-27" class="schProv1"><num>27</num><content><p><mod>Rule 4.068 has effect as if for it there were substituted—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="rule" ukl:Context="main" ukl:Format="double"><rule><num>4.068.</num><content><p>The expenses of summoning and holding a meeting of pre-moratorium creditors at the instance of the directors of the company are to be paid by the company.</p></content></rule></quotedStructure></mod></p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-11-paragraph-13" class="schProv1"><num>13</num><intro><p>In Article 172 of the 1989 Order (misconduct in course of winding up), paragraph (2) has effect as if the reference to 12 months immediately preceding the commencement of the winding up were to a period which—</p></intro><level class="para1" eId="schedule-11-paragraph-13-a"><num>(a)</num><intro><p>begins with whichever is the later of—</p></intro><level class="para2" eId="schedule-11-paragraph-13-a-i"><num>(i)</num><content><p>the day 12 months before the day on which the petition was presented, and</p></content></level><level class="para2" eId="schedule-11-paragraph-13-a-ii"><num>(ii)</num><content><p>the day 18 months before the day on which the winding-up order was made, and</p></content></level></level><level class="para1" eId="schedule-11-paragraph-13-b"><num>(b)</num><content><p>ends with the day on which the winding-up order was made.</p></content></level></paragraph>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="schedule-11-paragraph-13-a"><num>(a)</num><intro><p>begins with whichever is the later of—</p></intro><level class="para2" eId="schedule-11-paragraph-13-a-i"><num>(i)</num><content><p>the day 12 months before the day on which the petition was presented, and</p></content></level><level class="para2" eId="schedule-11-paragraph-13-a-ii"><num>(ii)</num><content><p>the day 18 months before the day on which the winding-up order was made, and</p></content></level></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para2" eId="schedule-11-paragraph-13-a-i"><num>(i)</num><content><p>the day 12 months before the day on which the petition was presented, and</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para2" eId="schedule-11-paragraph-13-a-ii"><num>(ii)</num><content><p>the day 18 months before the day on which the winding-up order was made, and</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="schedule-11-paragraph-13-b"><num>(b)</num><content><p>ends with the day on which the winding-up order was made.</p></content></level>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-7-paragraph-7" class="schProv1"><num>7</num><content><p>In Article 15 (procedure where nominee is not the liquidator or administrator), in paragraph (1), omit from “and the directors” to the end.</p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" eId="schedule-8-paragraph-28" class="schProv1"><num>28</num><content><p><mod>Rule 4.070 has effect as if for it (and its heading) there were substituted—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="rule" ukl:Context="main" ukl:Format="double"><rule><heading>Requisite majorities</heading><num>4.070.</num><paragraph><num>(1)</num><intro><p>A decision to consent to a revised end date for a moratorium under Article 13CC of the Order is made if, of those voting—</p></intro><level class="para1"><num>(a)</num><content><p>a majority (in value) of the pre-moratorium creditors who are secured creditors vote in favour of the proposed decision, and</p></content></level><level class="para1"><num>(b)</num><content><p>a majority (in value) of the pre-moratorium creditors who are unsecured creditors vote in favour of the proposed decision.</p></content></level></paragraph><paragraph><num>(2)</num><intro><p>But a decision to consent to a revised end date for a moratorium under Article 13CC of the Order is not made if, of those voting, either—</p></intro><level class="para1"><num>(a)</num><content><p>a majority of the pre-moratorium creditors who are unconnected secured creditors vote against the proposed end date, or</p></content></level><level class="para1"><num>(b)</num><content><p>a majority of the pre-moratorium creditors who are unconnected unsecured creditors vote against the proposed end date.</p></content></level></paragraph><paragraph><num>(3)</num><intro><p>For the purposes of paragraph (2)—</p></intro><level class="para1"><num>(a)</num><content><p>a creditor is unconnected unless the convener or chair decides that the creditor is connected, and</p></content></level><level class="para1"><num>(b)</num><content><p>the total value of the unconnected creditors is the total value of those unconnected creditors whose claims have been admitted for voting.</p></content></level></paragraph></rule></quotedStructure></mod></p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-11-paragraph-14" class="schProv1"><num>14</num><subparagraph eId="schedule-11-paragraph-14-1"><num>(1)</num><content><p>Article 178A of the 1989 Order (as inserted for the purposes of limited liability partnerships by the <ref eId="c00112" href="http://www.legislation.gov.uk/id/nisr/2004/307">Limited Liability Partnership Regulations (Northern Ireland) 2004 (S.R. (N.I.) 2004/307))</ref> has effect as follows.</p></content></subparagraph><subparagraph eId="schedule-11-paragraph-14-2"><num>(2)</num><intro><p>Paragraph (2) has effect as if the reference to 2 years ending with the commencement of the winding up were to a period which—</p></intro><level class="para1" eId="schedule-11-paragraph-14-2-a"><num>(a)</num><intro><p>begins with whichever is the later of—</p></intro><level class="para2" eId="schedule-11-paragraph-14-2-a-i"><num>(i)</num><content><p>the day 2 years before the day on which the petition was presented, and</p></content></level><level class="para2" eId="schedule-11-paragraph-14-2-a-ii"><num>(ii)</num><content><p>the day 2 years and 6 months before the day on which the winding-up order was made, and</p></content></level></level><level class="para1" eId="schedule-11-paragraph-14-2-b"><num>(b)</num><content><p>ends with the day on which the winding-up order was made.</p></content></level></subparagraph></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" eId="schedule-7-paragraph-8" class="schProv1"><num>8</num><subparagraph eId="schedule-7-paragraph-8-1"><num>(1)</num><content><p>Article 17 (decision of the company and its creditors in relation to voluntary arrangement) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-7-paragraph-8-2"><num>(2)</num><content><p><mod>After paragraph (4) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="order" ukl:Context="main" ukl:Format="double"><paragraph><num>(4A)</num><intro><p>Where the nominee’s report under Article 15(2) is submitted to the Court before the end of the period of 12 weeks beginning with the day after the end of any moratorium for the company under Part 1A, a meeting so summoned may not approve any proposal or modification under which the following are to be paid otherwise than in full—</p></intro><level class="para1"><num>(a)</num><content><p>moratorium debts (within the meaning given by Article 148A);</p></content></level><level class="para1"><num>(b)</num><content><p>priority pre-moratorium debts (within the meaning given by Article 148A);</p></content></level><wrapUp><p>but this is subject to paragraph (4B).</p></wrapUp></paragraph><paragraph><num>(4B)</num><content><p>Paragraph (4A) does not prevent the approval of such a proposal or modification with the concurrence of the creditor concerned.</p></content></paragraph></quotedStructure></mod></p></content></subparagraph><subparagraph eId="schedule-7-paragraph-8-3"><num>(3)</num><content><p>In paragraph (5), for “and (4)” substitute “to (4B)”.</p></content></subparagraph></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" eId="schedule-8-paragraph-29" class="schProv1"><num>29</num><intro><p>Rule 4.073 has effect as if—</p></intro><level class="para1" eId="schedule-8-paragraph-29-a"><num>(a)</num><content><p><mod>after paragraph (3) there were inserted—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="rule" ukl:Context="main" ukl:Format="double"><paragraph><num>(3A)</num><content><p>Votes are calculated according to the amount of each pre-moratorium creditor’s claim at the date of the meeting.</p></content></paragraph></quotedStructure><inline name="appendText">;</inline></mod></p></content></level><level class="para1" eId="schedule-8-paragraph-29-b"><num>(b)</num><content><p><mod>for paragraph (4) there were substituted—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="rule" ukl:Context="main" ukl:Format="double"><paragraph><num>(4)</num><content><p>A debt of an unliquidated or unascertained amount is to be valued at £1 for the purposes of voting unless the convener or the chairman decides to put a higher value on it.</p></content></paragraph></quotedStructure><inline name="appendText">;</inline></mod></p></content></level><level class="para1" eId="schedule-8-paragraph-29-c"><num>(c)</num><content><p><mod>for paragraph (5) there were substituted—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="rule" ukl:Context="main" ukl:Format="double"><paragraph><num>(5)</num><content><p>If a debt is partly or wholly secured the value of the debt for voting purposes is its full value without deduction of the value of the security.</p></content></paragraph></quotedStructure><inline name="appendText">;</inline></mod></p></content></level><level class="para1" eId="schedule-8-paragraph-29-d"><num>(d)</num><content><p><mod>for paragraph (6) there were substituted—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="rule" ukl:Context="main" ukl:Format="double"><paragraph><num>(6)</num><content><p>A pre-moratorium creditor under a hire-purchase agreement is entitled to vote in respect of the amount of the debt due and payable by the company at the date of the meeting.</p></content></paragraph><paragraph><num>(6A)</num><content><p>In calculating the amount of any debt for the purpose of paragraph (6), no account is to be taken of any amount attributable to the exercise of any right under the relevant agreement so far as the right has become exercisable solely by virtue of a moratorium for the company coming into force.</p></content></paragraph></quotedStructure></mod></p></content></level></paragraph>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" class="para1" eId="schedule-8-paragraph-29-a"><num>(a)</num><content><p><mod>after paragraph (3) there were inserted—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="rule" ukl:Context="main" ukl:Format="double"><paragraph><num>(3A)</num><content><p>Votes are calculated according to the amount of each pre-moratorium creditor’s claim at the date of the meeting.</p></content></paragraph></quotedStructure><inline name="appendText">;</inline></mod></p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" class="para1" eId="schedule-8-paragraph-29-b"><num>(b)</num><content><p><mod>for paragraph (4) there were substituted—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="rule" ukl:Context="main" ukl:Format="double"><paragraph><num>(4)</num><content><p>A debt of an unliquidated or unascertained amount is to be valued at £1 for the purposes of voting unless the convener or the chairman decides to put a higher value on it.</p></content></paragraph></quotedStructure><inline name="appendText">;</inline></mod></p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" class="para1" eId="schedule-8-paragraph-29-c"><num>(c)</num><content><p><mod>for paragraph (5) there were substituted—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="rule" ukl:Context="main" ukl:Format="double"><paragraph><num>(5)</num><content><p>If a debt is partly or wholly secured the value of the debt for voting purposes is its full value without deduction of the value of the security.</p></content></paragraph></quotedStructure><inline name="appendText">;</inline></mod></p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" class="para1" eId="schedule-8-paragraph-29-d"><num>(d)</num><content><p><mod>for paragraph (6) there were substituted—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="rule" ukl:Context="main" ukl:Format="double"><paragraph><num>(6)</num><content><p>A pre-moratorium creditor under a hire-purchase agreement is entitled to vote in respect of the amount of the debt due and payable by the company at the date of the meeting.</p></content></paragraph><paragraph><num>(6A)</num><content><p>In calculating the amount of any debt for the purpose of paragraph (6), no account is to be taken of any amount attributable to the exercise of any right under the relevant agreement so far as the right has become exercisable solely by virtue of a moratorium for the company coming into force.</p></content></paragraph></quotedStructure></mod></p></content></level>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-11-paragraph-15" class="schProv1"><num>15</num><subparagraph eId="schedule-11-paragraph-15-1"><num>(1)</num><content><p>Article 204 of the 1989 Order (definition of “relevant time”) has effect as follows.</p></content></subparagraph><subparagraph eId="schedule-11-paragraph-15-2"><num>(2)</num><intro><p>Paragraph (1)(a) has effect as if the reference to the period of 2 years ending with the onset of insolvency were to the period which—</p></intro><level class="para1" eId="schedule-11-paragraph-15-2-a"><num>(a)</num><intro><p>begins with whichever is the later of—</p></intro><level class="para2" eId="schedule-11-paragraph-15-2-a-i"><num>(i)</num><content><p>the day 2 years before the day on which the petition was presented, and</p></content></level><level class="para2" eId="schedule-11-paragraph-15-2-a-ii"><num>(ii)</num><content><p>the day 2 years and 6 months before the day on which the winding-up order was made, and</p></content></level></level><level class="para1" eId="schedule-11-paragraph-15-2-b"><num>(b)</num><content><p>ends with the day on which the winding-up order was made.</p></content></level></subparagraph><subparagraph eId="schedule-11-paragraph-15-3"><num>(3)</num><intro><p>Paragraph (1)(b) has effect as if the reference to the period of 6 months ending with the onset of insolvency were to the period which—</p></intro><level class="para1" eId="schedule-11-paragraph-15-3-a"><num>(a)</num><intro><p>begins with whichever is the later of—</p></intro><level class="para2" eId="schedule-11-paragraph-15-3-a-i"><num>(i)</num><content><p>the day 6 months before the day on which the petition was presented, and</p></content></level><level class="para2" eId="schedule-11-paragraph-15-3-a-ii"><num>(ii)</num><content><p>the day 12 months before the day on which the winding-up order was made, and</p></content></level></level><level class="para1" eId="schedule-11-paragraph-15-3-b"><num>(b)</num><content><p>ends with the day on which the winding-up order was made.</p></content></level></subparagraph></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-7-paragraph-9" class="schProv1"><num>9</num><subparagraph eId="schedule-7-paragraph-9-1"><num>(1)</num><content><p>Article 17A (approval of voluntary arrangement) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-7-paragraph-9-2"><num>(2)</num><content><p>In paragraph (2)(b), for “(4)” substitute “(6)”.</p></content></subparagraph><subparagraph eId="schedule-7-paragraph-9-3"><num>(3)</num><intro><p>In paragraph (5)—</p></intro><level class="para1" eId="schedule-7-paragraph-9-3-a"><num>(a)</num><content><p>for “within the meaning given by paragraph 54 of Schedule A1” substitute “as defined by Article 13H(13)”;</p></content></level><level class="para1" eId="schedule-7-paragraph-9-3-b"><num>(b)</num><content><p>for “within the meaning of paragraph 54 of Schedule A1” substitute “as defined by Article 13H(13)”.</p></content></level></subparagraph></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-8-paragraph-30" class="schProv1"><num>30</num><intro><p>Rule 4.077 has effect as if—</p></intro><level class="para1" eId="schedule-8-paragraph-30-a"><num>(a)</num><content><p>in paragraph (1) for “liquidation” there were substituted “moratorium”;</p></content></level><level class="para1" eId="schedule-8-paragraph-30-b"><num>(b)</num><content><p>paragraph (4) were omitted.</p></content></level></paragraph>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="schedule-8-paragraph-30-a"><num>(a)</num><content><p>in paragraph (1) for “liquidation” there were substituted “moratorium”;</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="schedule-8-paragraph-30-b"><num>(b)</num><content><p>paragraph (4) were omitted.</p></content></level>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-11-paragraph-16" class="schProv1"><num>16</num><subparagraph eId="schedule-11-paragraph-16-1"><num>(1)</num><content><p>Article 207 of the 1989 Order (avoidance of certain floating charges) has effect as follows.</p></content></subparagraph><subparagraph eId="schedule-11-paragraph-16-2"><num>(2)</num><intro><p>Paragraph (3)(a) has effect as if the reference to the period of 2 years ending with the onset of insolvency were to the period which—</p></intro><level class="para1" eId="schedule-11-paragraph-16-2-a"><num>(a)</num><intro><p>begins with whichever is the later of—</p></intro><level class="para2" eId="schedule-11-paragraph-16-2-a-i"><num>(i)</num><content><p>the day 2 years before the day on which the petition was presented, and</p></content></level><level class="para2" eId="schedule-11-paragraph-16-2-a-ii"><num>(ii)</num><content><p>the day 2 years and 6 months before the day on which the winding-up order was made, and</p></content></level></level><level class="para1" eId="schedule-11-paragraph-16-2-b"><num>(b)</num><content><p>ends with the day on which the winding-up order was made.</p></content></level></subparagraph><subparagraph eId="schedule-11-paragraph-16-3"><num>(3)</num><intro><p>Paragraph (3)(b) has effect as if the reference to the period of 12 months ending with the onset of insolvency were to the period which—</p></intro><level class="para1" eId="schedule-11-paragraph-16-3-a"><num>(a)</num><intro><p>begins with whichever is the later of—</p></intro><level class="para2" eId="schedule-11-paragraph-16-3-a-i"><num>(i)</num><content><p>the day 12 months before the day on which the petition was presented, and</p></content></level><level class="para2" eId="schedule-11-paragraph-16-3-a-ii"><num>(ii)</num><content><p>the day 18 months before the day on which the winding-up order was made, and</p></content></level></level><level class="para1" eId="schedule-11-paragraph-16-3-b"><num>(b)</num><content><p>ends with the day on which the winding-up order was made.</p></content></level></subparagraph></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" eId="schedule-7-paragraph-10" class="schProv1"><num>10</num><subparagraph eId="schedule-7-paragraph-10-1"><num>(1)</num><content><p>Article 18 (effect of approval of voluntary arrangement) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-7-paragraph-10-2"><num>(2)</num><content><p>In paragraph (3), for “paragraph (4)” substitute “paragraphs (3A) and (4)”.</p></content></subparagraph><subparagraph eId="schedule-7-paragraph-10-3"><num>(3)</num><content><p><mod>After paragraph (3) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="order" ukl:Context="main" ukl:Format="double"><paragraph><num>(3A)</num><content><p>Where immediately before the voluntary arrangement took effect a moratorium for the company was in force under Part 1A and a petition for the winding up of the company, other than an excepted petition within the meaning of Article 13DB, was presented before the beginning of the moratorium, the High Court must dismiss the petition.</p></content></paragraph></quotedStructure></mod></p></content></subparagraph><subparagraph eId="schedule-7-paragraph-10-4"><num>(4)</num><content><p>In paragraph (4) after “paragraph (3)(a)” insert “or dismiss a petition under paragraph (3A)”.</p></content></subparagraph></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" eId="schedule-7-paragraph-11" class="schProv1"><num>11</num><subparagraph eId="schedule-7-paragraph-11-1"><num>(1)</num><content><p>Article 20A (prosecution of delinquent officers of company) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-7-paragraph-11-2"><num>(2)</num><content><p><mod>For paragraph (1) substitute—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="order" ukl:Context="main" ukl:Format="double"><paragraph><num>(1)</num><content><p>This Article applies where the approval of a voluntary arrangement in relation to a company has taken effect under Article 17A.</p></content></paragraph></quotedStructure></mod></p></content></subparagraph><subparagraph eId="schedule-7-paragraph-11-3"><num>(3)</num><intro><p>In paragraph (2)—</p></intro><level class="para1" eId="schedule-7-paragraph-11-3-a"><num>(a)</num><content><p>for the words before sub-paragraph (a) substitute “If it appears to the supervisor that any past or present officer of the company has committed an offence in connection with the voluntary arrangement, the supervisor must forthwith”;</p></content></level><level class="para1" eId="schedule-7-paragraph-11-3-b"><num>(b)</num><content><p>in sub-paragraph (b), omit “nominee or”.</p></content></level></subparagraph><subparagraph eId="schedule-7-paragraph-11-4"><num>(4)</num><content><p>In paragraph (8), omit “nominee or”.</p></content></subparagraph></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-7-paragraph-12" class="schProv1"><num>12</num><intro><p>In Article 20B (arrangements coming to an end prematurely) omit—</p></intro><level class="para1" eId="schedule-7-paragraph-12-a"><num>(a)</num><content><p>“or paragraph 46 of Schedule A1”;</p></content></level><level class="para1" eId="schedule-7-paragraph-12-b"><num>(b)</num><content><p>“or, as the case may be, paragraph 47(2)(b)(i) of Schedule A1”.</p></content></level></paragraph>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="schedule-7-paragraph-12-a"><num>(a)</num><content><p>“or paragraph 46 of Schedule A1”;</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="schedule-7-paragraph-12-b"><num>(b)</num><content><p>“or, as the case may be, paragraph 47(2)(b)(i) of Schedule A1”.</p></content></level>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-7-paragraph-13" class="schProv1"><num>13</num><content><p>In Article 100 (expenses of voluntary winding up), at the beginning insert “After the payment of any liabilities to which Article 148A applies,”.</p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-7-paragraph-14" class="schProv1"><num>14</num><content><p>In Article 102 (circumstances in which company may be wound up by the High Court), omit sub-paragraph (fa).</p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-7-paragraph-15" class="schProv1"><num>15</num><content><p>In Article 104 (application for winding up by the High Court), omit paragraph (4A).</p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" eId="schedule-7-paragraph-16" class="schProv1"><num>16</num><content><p><mod>In Article 107 (avoidance of property dispositions etc), after paragraph (2) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="order" ukl:Context="main" ukl:Format="double"><paragraph><num>(3)</num><content><p>This Article has no effect in respect of anything done during a moratorium under Part 1A, or during a period mentioned in Article 18(4)(a) following the end of a moratorium, where the winding-up order was made on a petition presented before the moratorium begins, unless the petition was presented under section 367 of the Financial Services and Markets Act 2000 on the ground mentioned in section 367(3)(b) of that Act.</p></content></paragraph></quotedStructure></mod></p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" eId="schedule-7-paragraph-17" class="schProv1"><num>17</num><content><p><mod>Before Article 149 (and before the italic heading “Preferential debts” above that Article) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="order" ukl:Context="main" ukl:Format="double"><hcontainer name="crossheading" ukl:Name="Pblock"><heading>Moratorium: order of priority of payment of debts</heading><article><heading>Moratorium debts etc: priority</heading><num>148A</num><paragraph><num>(1)</num><content><p>This Article applies where proceedings for the winding up of a company are begun before the end of the period of 12 weeks beginning with the day after the end of any moratorium for the company under Part 1A.</p></content></paragraph><paragraph eId="d25e24846"><num>(2)</num><intro><p>In the winding up, the following are payable out of the company’s assets (in the order of priority shown) in preference to all other claims—</p></intro><level class="para1"><num>(a)</num><content><p>any prescribed fees or expenses of the official receiver acting in any capacity in relation to the company;</p></content></level><level class="para1" eId="d25e24858"><num>(b)</num><content><p>moratorium debts and priority pre-moratorium debts.</p></content></level></paragraph><paragraph><num>(3)</num><intro><p>In paragraph <ref href="#d25e24858">(2)(b)</ref> “priority pre-moratorium debt” means—</p></intro><level class="para1"><num>(a)</num><intro><p>any pre-moratorium debt that is payable in respect of—</p></intro><level class="para2"><num>(i)</num><content><p>the monitor’s remuneration or expenses,</p></content></level><level class="para2" eId="d25e24885"><num>(ii)</num><content><p>goods or services supplied during the moratorium,</p></content></level><level class="para2"><num>(iii)</num><content><p>rent in respect of a period during the moratorium, or</p></content></level><level class="para2"><num>(iv)</num><content><p>wages or salary arising under a contract of employment, so far as relating to a period of employment before or during the moratorium,</p></content></level></level><level class="para1"><num>(b)</num><intro><p>any pre-moratorium debt that—</p></intro><level class="para2"><num>(i)</num><content><p>consists of a liability to make a redundancy payment, and</p></content></level><level class="para2"><num>(ii)</num><content><p>fell due before or during the moratorium, and</p></content></level></level><level class="para1" eId="d25e24921"><num>(c)</num><intro><p>any pre-moratorium debt that—</p></intro><level class="para2"><num>(i)</num><content><p>arises under a contract or other instrument involving financial services,</p></content></level><level class="para2"><num>(ii)</num><content><p>fell due before or during the moratorium, and</p></content></level><level class="para2"><num>(iii)</num><content><p>is not relevant accelerated debt (see paragraph <ref href="#d25e24948">(4)</ref>).</p></content></level></level></paragraph><paragraph eId="d25e24948"><num>(4)</num><intro><p>For the purposes of paragraph <ref href="#d25e24921">(3)(c)</ref>—</p></intro><hcontainer name="definition"><content><p>“relevant accelerated debt” means any pre-moratorium debt that fell due during the relevant period by reason of the operation of, or the exercise of rights under, an acceleration or early termination clause in a contract or other instrument involving financial services;</p></content></hcontainer><hcontainer name="definition"><intro><p>“the relevant period” means the period—</p></intro><level class="para1"><num>(a)</num><content><p>beginning with the day on which the statement under Article 13BC(1)(e) is made, and</p></content></level><level class="para1"><num>(b)</num><content><p>ending with the last day of the moratorium.</p></content></level></hcontainer></paragraph><paragraph eId="d25e24975"><num>(5)</num><content><p>The rules may make provision as to the order in which the debts mentioned in paragraph (2)(b) rank among themselves in a case where the assets of the company are insufficient to meet them in full.</p></content></paragraph><paragraph eId="d25e24981"><num>(6)</num><content><p>Regulations may amend this Article for the purposes of changing the definition of “moratorium debt” or “priority pre-moratorium debt” in this Article.</p></content></paragraph><paragraph><num>(7)</num><content><p>Regulations under paragraph <ref href="#d25e24981">(6)</ref> may make consequential, supplementary, incidental or transitional provision or savings.</p></content></paragraph><paragraph><num>(8)</num><content><p>Regulations may not be made under paragraph <ref href="#d25e24981">(6)</ref> unless a draft of the regulations has been laid before, and approved by a resolution of, the Assembly.</p></content></paragraph><paragraph><num>(9)</num><intro><p>For the purposes of this Article proceedings for the winding up of a company are begun when—</p></intro><level class="para1"><num>(a)</num><content><p>a winding-up petition is presented, or</p></content></level><level class="para1"><num>(b)</num><content><p>a resolution for voluntary winding up is passed.</p></content></level></paragraph><paragraph><num>(10)</num><content><p>Any rules made under Article 13D(4) (meaning of supply of goods or services) apply also for the purposes of paragraph <ref href="#d25e24885">(3)(a)(ii)</ref> of this Article.</p></content></paragraph><paragraph><num>(11)</num><intro><p>In this Article—</p></intro><hcontainer name="definition"><intro><p>“acceleration or early termination clause”, in relation to a contract or other instrument involving financial services, means a provision of the contract or other instrument—</p></intro><level class="para1"><num>(a)</num><content><p>under which, on the happening of an event—</p><blockList class="ordered roman parens" ukl:Name="OrderedList" ukl:Type="roman" ukl:Decoration="parens"><item><num>(i)</num><p>a debt or other liability falls due earlier than it otherwise would, or</p></item><item><num>(ii)</num><p>a debt or other liability is terminated and replaced by another debt or liability, or</p></item></blockList></content></level><level class="para1"><num>(b)</num><content><p>which confers on a party a right which, if exercised, will result in —</p><blockList class="ordered roman parens" ukl:Name="OrderedList" ukl:Type="roman" ukl:Decoration="parens"><item><num>(i)</num><p>a debt or other liability falling due earlier than it otherwise would, or</p></item><item><num>(ii)</num><p>a debt or other liability being terminated and replaced by another debt or liability;</p></item></blockList></content></level></hcontainer><hcontainer name="definition"><content><p>“contract or other instrument involving financial services” has the same meaning as it has for the purposes of Article 13D (see Schedule ZA2);</p></content></hcontainer><hcontainer name="definition"><content><p>“monitor’s remuneration or expenses” has the meaning given by Article 13D;</p></content></hcontainer><hcontainer name="definition"><content><p>“moratorium debt” has the meaning given by Article 13HD;</p></content></hcontainer><hcontainer name="definition"><content><p>“pre-moratorium debt” has the meaning given by Article 13HD;</p></content></hcontainer><hcontainer name="definition"><content><p>“redundancy payment” has the meaning given by Article 13D;</p></content></hcontainer><hcontainer name="definition"><content><p>“wages or salary” has the meaning given by Article 13D.</p></content></hcontainer></paragraph></article></hcontainer></quotedStructure></mod></p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-7-paragraph-18" class="schProv1"><num>18</num><subparagraph eId="schedule-7-paragraph-18-1"><num>(1)</num><content><p>Article 149 (preferential debts: general provision) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-7-paragraph-18-2"><num>(2)</num><intro><p>In paragraph (1), at the end insert “after the payment of—</p></intro><level class="para1" eId="schedule-7-paragraph-18-2-a"><num>(a)</num><content><p>any liabilities to which Article 148A applies, and</p></content></level><level class="para1" eId="schedule-7-paragraph-18-2-b"><num>(b)</num><content><p>expenses of the winding up.”</p></content></level></subparagraph><subparagraph eId="schedule-7-paragraph-18-3"><num>(3)</num><content><p>In paragraph (1A), omit “after the expenses of the winding up”.</p></content></subparagraph></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-7-paragraph-19" class="schProv1"><num>19</num><subparagraph eId="schedule-7-paragraph-19-1"><num>(1)</num><content><p>Article 197 (supplies of water, electricity, etc) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-7-paragraph-19-2"><num>(2)</num><intro><p>In paragraph (1)—</p></intro><level class="para1" eId="schedule-7-paragraph-19-2-a"><num>(a)</num><content><p>omit sub-paragraph (ba) (including the “or” at the end);</p></content></level><level class="para1" eId="schedule-7-paragraph-19-2-b"><num>(b)</num><content><p>in the words after sub-paragraph (e), omit “the nominee,”.</p></content></level></subparagraph><subparagraph eId="schedule-7-paragraph-19-3"><num>(3)</num><content><p>In paragraph (4), omit sub-paragraph (ba).</p></content></subparagraph></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" eId="schedule-7-paragraph-20" class="schProv1"><num>20</num><content><p><mod>In Article 208ZA (remote attendance at meetings), as inserted by section 1(1) of the Insolvency (Amendment) Act (Northern Ireland) 2016, in paragraph (9), before sub-paragraph (a) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="order" ukl:Context="main" ukl:Format="double"><level class="para1"><num>(za)</num><content><p>the monitor in relation to a moratorium under Part 1A;</p></content></level></quotedStructure><inline name="appendText">.</inline></mod></p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" eId="schedule-7-paragraph-21" class="schProv1"><num>21</num><content><p><mod>In Article 208ZB (use of websites), as inserted by section 1(1) of the Insolvency (Amendment) Act (Northern Ireland) 2016, in paragraph (2), before sub-paragraph (a) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="order" ukl:Context="main" ukl:Format="double"><level class="para1"><num>(za)</num><content><p>the monitor in relation to a moratorium under Part 1A;</p></content></level></quotedStructure><inline name="appendText">.</inline></mod></p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-7-paragraph-22" class="schProv1"><num>22</num><content><p>In Article 347 (“the relevant date” in relation to preferential debts), omit paragraph (2A).</p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" eId="schedule-7-paragraph-23" class="schProv1"><num>23</num><subparagraph eId="schedule-7-paragraph-23-1"><num>(1)</num><content><p>Article 362 (monetary limits) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-7-paragraph-23-2"><num>(2)</num><content><p><mod>In paragraph (1), before sub-paragraph (a) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="order" ukl:Context="main" ukl:Format="double"><level class="para1"><num>(za)</num><content><p>increase or reduce any of the money sums for the time being specified in the following provisions of Part 1A—</p><blockList class="unordered none" ukl:Name="UnorderedList" ukl:Decoration="none"><item><p>Article 13DG(1) (maximum amount of credit which company may obtain without disclosing moratorium);</p></item><item><p>Article 13DJ(2) (maximum amount for certain payments without obtaining monitor consent etc);</p></item><item><p>Article 13G(2) (minimum value of company property concealed or fraudulently removed, affecting criminal liability of company’s officer); or</p></item></blockList></content></level></quotedStructure><inline name="appendText">.</inline></mod></p></content></subparagraph><subparagraph eId="schedule-7-paragraph-23-3"><num>(3)</num><content><p>Omit paragraph (1)(c) (money sums: company moratorium) and the “or” before it.</p></content></subparagraph></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-7-paragraph-24" class="schProv1"><num>24</num><content><p>In Article 373 (offences: disapplication of section 20(2) of the 1954 Act), in paragraph (4), after “Articles” insert “13DA(5), 13DG(3), 13DH(4), 13DI(1), 13DJ(5), 13DK(6), 13DL(2), 13DM(9), 13DN(4),”.</p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-7-paragraph-25" class="schProv1"><num>25</num><content><p>In Article 383(a), for “Parts 2 to 7” substitute “Parts 1A to 7”.</p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-7-paragraph-26" class="schProv1"><num>26</num><content><p>Omit Schedule A1 (moratorium where directors propose voluntary arrangement).</p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" eId="schedule-7-paragraph-27" class="schProv1"><num>27</num><subparagraph eId="schedule-7-paragraph-27-1"><num>(1)</num><content><p>Schedule B1 (administration) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-7-paragraph-27-2"><num>(2)</num><content><p>Omit paragraph 25.</p></content></subparagraph><subparagraph eId="schedule-7-paragraph-27-3"><num>(3)</num><content><p><mod>Before paragraph 66 (but after the italic heading “Distribution”) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="order" ukl:Context="main" ukl:Format="double"><article><num>65A</num><paragraph><num>(1)</num><content><p>This paragraph applies where a company enters administration before the end of the period of 12 weeks beginning with the day after the end of any moratorium under Part 1A.</p></content></paragraph><paragraph><num>(2)</num><intro><p>The administrator must make a distribution to the creditors of the company in respect of—</p></intro><level class="para1"><num>(a)</num><content><p>moratorium debts (within the meaning given by Article 148A), and</p></content></level><level class="para1"><num>(b)</num><content><p>priority pre-moratorium debts (within the meaning given by Article 148A).</p></content></level></paragraph><paragraph><num>(3)</num><intro><p>A sum payable under sub-paragraph (2) is to be paid in priority to—</p></intro><level class="para1"><num>(a)</num><content><p>any security to which paragraph 71 applies;</p></content></level><level class="para1"><num>(b)</num><content><p>any sums payable under paragraph 100.</p></content></level></paragraph><paragraph><num>(4)</num><content><p>The administrator must realise any property necessary to comply with sub-paragraph (2).</p></content></paragraph><paragraph><num>(5)</num><content><p>The rules may make provision as to the order in which the moratorium and priority pre-moratorium debts rank among themselves for the purposes of this paragraph in a case where the assets of the company are insufficient to meet them in full.</p></content></paragraph></article></quotedStructure></mod></p></content></subparagraph><subparagraph eId="schedule-7-paragraph-27-4"><num>(4)</num><content><p><mod>In paragraph 66, for sub-paragraph (1) substitute—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="order" ukl:Context="main" ukl:Format="double"><paragraph><num>(1)</num><content><p>If the assets of a company are sufficient to meet any debts or other liabilities payable under paragraph 65A in full, the administrator of the company may make a distribution to any other creditor of the company.</p></content></paragraph></quotedStructure></mod></p></content></subparagraph><subparagraph eId="schedule-7-paragraph-27-5"><num>(5)</num><content><p>In paragraph 67, for “The administrator of a company” substitute “If the debts or other liabilities payable under paragraph 65A have been met, the administrator of a company”.</p></content></subparagraph></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-7-paragraph-28" class="schProv1"><num>28</num><subparagraph eId="schedule-7-paragraph-28-1"><num>(1)</num><content><p>Schedule 5 (provision capable of inclusion in company insolvency rules) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-7-paragraph-28-2"><num>(2)</num><content><p>In paragraph 8, after “is,” insert “the monitor in relation to a moratorium under Part 1A or”.</p></content></subparagraph></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" xmlns:default="http://www.w3.org/1999/xhtml" xmlns:fo="http://www.w3.org/1999/XSL/Format" eId="schedule-7-paragraph-29" class="schProv1"><num>29</num><subparagraph eId="schedule-7-paragraph-29-1"><num>(1)</num><content><p>Schedule 7 (punishment of offences under the Order) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-7-paragraph-29-2"><num>(2)</num><content><p>Omit the entries relating to Schedule A1.</p></content></subparagraph><subparagraph eId="schedule-7-paragraph-29-3"><num>(3)</num><content><p><mod>At the appropriate place insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="order" ukl:Context="main" ukl:Format="double"><tblock class="table" ukl:Orientation="portrait"><foreign><default:table xmlns="http://www.w3.org/1999/xhtml"><default:col span="1" style="width:25%"/><default:col span="1" style="width:35%"/><default:col span="1" style="width:20%"/><default:col span="1" style="width:20%"/><default:tbody><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" rowspan="2" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0"><ref href="#d25e5890">13BE</ref><ref href="#d25e5962">(4)</ref></p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black" rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Directors failing to notify monitor of beginning of moratorium.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2 years or a fine or both.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">6 months orthe statutorymaximum orboth.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0"><ref href="#d25e5890">13BE</ref><ref href="#d25e5971">(5)</ref></p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Monitor failing to notify creditors etc of beginning of moratorium.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Summary.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Level 3 on the standard scale.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" rowspan="2" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0"><ref href="#d25e6751">13CH</ref><ref href="#d25e6947">(6)</ref></p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black" rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Directors failing to notify monitor of change in end of moratorium.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2 years or a fine or both.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">6 months orthe statutorymaximum orboth.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0"><ref href="#d25e6751">13CH</ref><ref href="#d25e6956">(7)</ref></p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Monitor failing to notify creditors etc of change in end of moratorium.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Summary.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Level 3 on the standard scale.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0"><ref href="#d25e7152">13DA</ref><ref href="#d25e7215">(5)</ref></p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Company or officer failing to state in correspondence etc that moratorium in force.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Summary.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Level 3 on the standard scale.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" rowspan="2" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0"><ref href="#d25e7730">13DF</ref><ref href="#d25e7776">(4)</ref></p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black" rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Directors failing to notify monitor of insolvency proceedings etc.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2 years or a fine or both.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">6 months orthe statutorymaximum orboth.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" rowspan="2" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0"><ref href="#d25e7794">13DG</ref><ref href="#d25e7837">(3)(a)</ref></p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black" rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Company obtaining credit without disclosing existence of moratorium.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A fine.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">The statutory maximum.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" rowspan="2" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0"><ref href="#d25e7794">13DG</ref><ref href="#d25e7843">(3)(b)</ref></p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black" rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Obtaining credit for company without disclosing existence of moratorium.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2 years or a fine or both.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">6 months orthe statutorymaximum orboth.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" rowspan="2" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0"><ref href="#d25e7852">13DH</ref><ref href="#d25e7889">(4)(a)</ref></p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black" rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Company granting security without monitor’s consent.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A fine.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">The statutory maximum.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" rowspan="2" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0"><ref href="#d25e7852">13DH</ref><ref href="#d25e7895">(4)(b)</ref></p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black" rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Authorising or permitting company to do so.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2 years or a fine or both.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">6 months orthe statutorymaximum orboth.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" rowspan="2" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0"><ref href="#d25e7925">13DI</ref><ref href="#d25e7935">(1)(a)</ref></p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black" rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Company entering into market contract, etc.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A fine.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">The statutory maximum.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" rowspan="2" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0"><ref href="#d25e7925">13DI</ref><ref href="#d25e7941">(1)(b)</ref></p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black" rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Authorising or permitting company to do so.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2 years or a fine or both.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">6 months orthe statutorymaximum orboth.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" rowspan="2" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0"><ref href="#d25e8057">13DJ</ref><ref href="#d25e8149">(5)(a)</ref></p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black" rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Company making unauthorised payments.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A fine.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">The statutory maximum.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" rowspan="2" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0"><ref href="#d25e8057">13DJ</ref><ref href="#d25e8155">(5)(b)</ref></p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black" rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Authorising or permitting company to do so.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2 years or a fine or both.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">6 months orthe statutorymaximum orboth.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" rowspan="2" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0"><ref href="#d25e8164">13DK</ref><ref href="#d25e8251">(6)(a)</ref></p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black" rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Company making unauthorised disposal of property.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A fine.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">The statutory maximum.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" rowspan="2" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0"><ref href="#d25e8164">13DK</ref><ref href="#d25e8257">(6)(b)</ref></p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black" rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Authorising or permitting such a disposal.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2 years or a fine or both.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">6 months orthe statutorymaximum orboth.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" rowspan="2" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0"><ref href="#d25e8266">13DL</ref><ref href="#d25e8302">(2)(a)</ref></p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black" rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Unauthorised disposal of hire-purchase property.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A fine.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">The statutory maximum.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" rowspan="2" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0"><ref href="#d25e8266">13DL</ref><ref href="#d25e8308">(2)(b)</ref></p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black" rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Authorising or permitting such a disposal.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2 years or a fine or both.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">6 months orthe statutorymaximum orboth.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0"><ref href="#d25e8320">13DM</ref><ref href="#d25e8396">(8)</ref></p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Directors failing to send to registrar copy of court order permitting disposal of charged property.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Summary.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Level 3 on the standard scale.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" rowspan="2" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0"><ref href="#d25e8320">13DM</ref><ref href="#d25e8414">(9)(a)</ref></p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black" rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Company failing to comply with requirements relating to disposal of charged property.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A fine.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">The statutory maximum.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" rowspan="2" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0"><ref href="#d25e8320">13DM</ref><ref href="#d25e8420">(9)(b)</ref></p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black" rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Authorising or permitting such a failure.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2 years or a fine or both.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">6 months orthe statutorymaximum orboth.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" rowspan="2" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0"><ref href="#d25e8441">13DN</ref><ref href="#d25e8490">(4)(a)</ref></p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black" rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Company failing to comply with requirements relating to disposal of hire-purchase property.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A fine.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">The statutory maximum.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" rowspan="2" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0"><ref href="#d25e8441">13DN</ref><ref href="#d25e8496">(4)(b)</ref></p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black" rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Authorising or permitting such a failure.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2 years or a fine or both.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">6 months orthe statutorymaximum orboth.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0"><ref href="#d25e8441">13DN</ref><ref href="#d25e8511">(6)</ref></p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Directors failing to send to registrar copy of court order permitting disposal of hire-purchase property.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Summary.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Level 3 on the standard scale.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0"><ref href="#d25e8729">13EE</ref><ref href="#d25e8850">(9)</ref></p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Monitor failing to notify creditors etc of change in monitor.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Summary.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Level 3 on the standard scale.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" rowspan="2" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0"><ref href="#d25e9260">13G</ref><ref href="#d25e9264">(1)</ref></p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black" rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Fraud or privity to fraud during or in anticipation of moratorium.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2 years or a fine or both.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">6 months or the statutory maximum or both.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" rowspan="2" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0"><ref href="#d25e9260">13G</ref><ref href="#d25e9372">(4)</ref></p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black" rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Knowingly taking in pawn or pledge, or otherwise receiving, company property.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2 years or a fine or both.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">6 months orthe statutorymaximum orboth.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" rowspan="2" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0"><ref href="#d25e9408">13GA</ref><ref href="#d25e9412">(1)</ref></p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black" rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">False representation or fraud for purpose of obtaining or extending moratorium.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2 years or a fine or both.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">6 months orthe statutorymaximum orboth.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" rowspan="2" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0"><ref href="#d25e9564">13H</ref><ref href="#d25e9631">(5)</ref></p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black" rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Directors failing to notify regulator of qualifying decision procedure in relation to regulated company</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2 years or a fine or both.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">6 months orthe statutorymaximum orboth.</p></default:td></default:tr></default:tbody></default:table></foreign></tblock></quotedStructure></mod></p></content></subparagraph></paragraph>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1"><num>(a)</num><content><p>a moratorium under Part A1 of the Insolvency Act 1986;</p></content></level>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-3-paragraph-35" class="schProv1"><num>35</num><content><p>In regulation 19 of the Financial Markets and Insolvency (Settlement Finality) Regulations 1999 (S.I. 1999/2979) (administration orders, etc), omit paragraph (4).</p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" xmlns:default="http://www.w3.org/1999/xhtml" xmlns:fo="http://www.w3.org/1999/XSL/Format" eId="schedule-3-paragraph-39" class="schProv1"><num>39</num><content><p><mod>In Schedule 2 to the Financial Services and Markets Act 2000 (Disclosure of Confidential Information) Regulations 2001 (<ref eId="c00065" href="http://www.legislation.gov.uk/id/uksi/2001/2188">S.I. 2001/2188</ref>) (disclosure of confidential information), at the end of the table insert—<quotedStructure startQuote="“" endQuote="”" uk:context="schedule" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="schedule" ukl:Format="double"><tblock class="table" ukl:Orientation="portrait"><foreign><default:table xmlns="http://www.w3.org/1999/xhtml"><default:col span="1" style="width:54%"/><default:col span="1" style="width:46%"/><default:tbody><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">The monitor in relation to a moratorium under Part A1 of the Insolvency Act 1986</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">The monitor’s functions in relation to the moratorium</p></default:td></default:tr></default:tbody></default:table></foreign></tblock></quotedStructure><inline name="appendText">.</inline></mod></p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-3-paragraph-42" class="schProv1"><num>42</num><intro><p>In section 154 of the Banking Act 2009 (winding-up or voluntary arrangement), in subsection (3A)—</p></intro><level class="para1" eId="schedule-3-paragraph-42-a"><num>(a)</num><content><p>omit “and Schedule A1”;</p></content></level><level class="para1" eId="schedule-3-paragraph-42-b"><num>(b)</num><content><p>for “9” substitute “8”.</p></content></level></paragraph>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="schedule-3-paragraph-42-a"><num>(a)</num><content><p>omit “and Schedule A1”;</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="schedule-3-paragraph-42-b"><num>(b)</num><content><p>for “9” substitute “8”.</p></content></level>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-4-paragraph-3" class="schProv1"><num>3</num><content><p>Rules under section 411 of the Insolvency Act 1986 may provide for any provision made by paragraphs <ref href="#schedule-4-paragraph-13">13</ref> to <ref href="#schedule-4-paragraph-51">51</ref> or <ref href="#schedule-4-paragraph-53">53</ref> to <ref href="#schedule-4-paragraph-90">90</ref> to cease to have effect before the end of the relevant period.</p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-7-paragraph-39" class="schProv1"><num>39</num><content><p>In Schedule 3 to the Insolvency (Amendment) Act (Northern Ireland) 2016 omit paragraph 17.</p></content></paragraph>
<hcontainer xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" name="definition"><intro><p>“relevant provision” means—</p></intro><level class="para1"><num>(a)</num><content><p>section 12(2),</p></content></level><level class="para1"><num>(b)</num><content><p>section 15(2),</p></content></level><level class="para1"><num>(c)</num><content><p>paragraph 1 of Schedule 4, or</p></content></level><level class="para1"><num>(d)</num><content><p>paragraph 1(3) or 21(1) of Schedule 10.</p></content></level></hcontainer>
<hcontainer xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" name="schedule" eId="schedule-1"><num>SCHEDULE 1<authorialNote class="referenceNote"><p>
Section 1(2)</p></authorialNote></num><heading>Moratoriums in Great Britain: eligible companies</heading><hcontainer name="crossheading" class="schGroup7" eId="schedule-1-paragraph-wrapper1n1"><heading/><content><p>In the Insolvency Act 1986, before Schedule A1 (which is repealed by Schedule 3 to this Act) insert—</p><p><mod><quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="unknown" ukl:TargetClass="unknown" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="default"><hcontainer name="schedule"><num>SCHEDULE ZA1<authorialNote class="referenceNote"><p>
Section A2</p></authorialNote></num><heading>Moratorium: Eligible companies</heading><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Eligible companies</i></heading><paragraph class="schProv1"><num>1</num><content><p>A company is “<term refersTo="#term-eligible">eligible</term>” for the purposes of this Part unless it is excluded from being eligible by any of the following—</p><blockList class="unordered none" ukl:Name="UnorderedList" ukl:Decoration="none"><item><p>paragraph 2 (current or recent insolvency procedure);</p></item><item><p>paragraph 3 (insurance companies);</p></item><item><p>paragraph 4 (banks);</p></item><item><p>paragraph 5 (electronic money institutions);</p></item><item><p>paragraph 6 (investment banks and investment firms);</p></item><item><p>paragraph 7 (market contracts, market charges, etc);</p></item><item><p>paragraph 8 (participants in designated systems);</p></item><item><p>paragraph 9 (payment institutions);</p></item><item><p>paragraph 10 (operators of payment systems, infrastructure providers etc);</p></item><item><p>paragraph 11 (recognised investment exchanges, clearing houses and CSDs);</p></item><item><p>paragraph 12 (securitisation companies);</p></item><item><p>paragraph 13 (parties to capital market arrangements);</p></item><item><p>paragraph 15 (public-private partnership project companies);</p></item><item><p>paragraph 18 (certain overseas companies).</p></item></blockList></content></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Companies subject to, or recently subject to, moratorium or an insolvency procedure</i></heading><paragraph class="schProv1"><num>2</num><subparagraph><num>(1)</num><intro><p>A company is excluded from being eligible if—</p></intro><level class="para1"><num>(a)</num><content><p>on the filing date, a moratorium for the company is in force, or</p></content></level><level class="para1"><num>(b)</num><content><p>at any time during the period of 12 months ending with the filing date, a moratorium for the company was in force (but see section A42(6) for power of the court to modify the effect of this paragraph).</p></content></level></subparagraph><subparagraph><num>(2)</num><intro><p>A company is excluded from being eligible if—</p></intro><level class="para1"><num>(a)</num><content><p>on the filing date, the company is subject to an insolvency procedure, or</p></content></level><level class="para1"><num>(b)</num><content><p>at any time during the period of 12 months ending with the filing date, the company was subject to an insolvency procedure within sub-paragraph (3)(a) or (b).</p></content></level></subparagraph><subparagraph><num>(3)</num><intro><p>For the purposes of sub-paragraph (2), a company is subject to an insolvency procedure at any time if at that time—</p></intro><level class="para1"><num>(a)</num><content><p>a voluntary arrangement has effect in relation to the company,</p></content></level><level class="para1"><num>(b)</num><content><p>the company is in administration,</p></content></level><level class="para1"><num>(c)</num><content><p>paragraph 44 of Schedule B1 applies in relation to the company (administration: interim moratorium),</p></content></level><level class="para1"><num>(d)</num><content><p>there is an administrative receiver of the company,</p></content></level><level class="para1"><num>(e)</num><content><p>there is a provisional liquidator of the company,</p></content></level><level class="para1"><num>(f)</num><content><p>the company is being wound up, or</p></content></level><level class="para1"><num>(g)</num><content><p>a relevant petition for the winding up of the company has been presented and has not been withdrawn or determined.</p></content></level></subparagraph><subparagraph><num>(4)</num><intro><p>In sub-paragraph (3)(g) “<term refersTo="#term-relevant-petition">relevant petition</term>” means a petition under—</p></intro><level class="para1"><num>(a)</num><content><p>section 124A (winding up on grounds of public interest),</p></content></level><level class="para1"><num>(b)</num><content><p>section 124B (winding up of SE), or</p></content></level><level class="para1"><num>(c)</num><content><p>section 124C (winding up of SCE).</p></content></level></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Insurance companies</i></heading><paragraph class="schProv1"><num>3</num><subparagraph><num>(1)</num><intro><p>A company is excluded from being eligible if—</p></intro><level class="para1"><num>(a)</num><content><p>it carries on the regulated activity of effecting or carrying out contracts of insurance, and</p></content></level><level class="para1"><num>(b)</num><content><p>it is not an exempt person in relation to that activity.</p></content></level></subparagraph><subparagraph><num>(2)</num><intro><p>In this paragraph—</p></intro><hcontainer name="definition"><content><p>“<term refersTo="#term-exempt-person">exempt person</term>”, in relation to a regulated activity, has the meaning given by section 417 of the Financial Services and Markets Act 2000;</p></content></hcontainer><hcontainer name="definition"><content><p>“<term refersTo="#term-regulated-activity">regulated activity</term>” has the meaning given by section 22 of that Act, taken with Schedule 2 to that Act and any order under that section.</p></content></hcontainer></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Banks</i></heading><paragraph class="schProv1"><num>4</num><subparagraph><num>(1)</num><intro><p>A company is excluded from being eligible if—</p></intro><level class="para1"><num>(a)</num><content><p>it has permission under Part 4A of the Financial Services and Markets Act 2000 to carry on the regulated activity of accepting deposits,</p></content></level><level class="para1"><num>(b)</num><content><p>it is a banking group company within the meaning of Part 1 of the Banking Act 2009 (see section 81D of that Act), or</p></content></level><level class="para1"><num>(c)</num><content><p>it has a liability in respect of a deposit which it accepted in accordance with the Banking Act 1979 or the Banking Act 1987.</p></content></level></subparagraph><subparagraph><num>(2)</num><content><p>In sub-paragraph (1)(a) “<term refersTo="#term-regulated-activity">regulated activity</term>” has the meaning given by section 22 of the Financial Services and Markets Act 2000, taken with Schedule 2 to that Act and any order under that section.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Electronic money institutions</i></heading><paragraph class="schProv1"><num>5</num><content><p>A company is excluded from being eligible if it is an electronic money institution within the meaning of the Electronic Money Regulations 2011 (S.I. 2011/99) (see regulation 2 of those Regulations).</p></content></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Investment banks and investment firms</i></heading><paragraph class="schProv1"><num>6</num><subparagraph><num>(1)</num><content><p>A company is excluded from being eligible if it is an investment bank or an investment firm.</p></content></subparagraph><subparagraph><num>(2)</num><intro><p>In this paragraph—</p></intro><hcontainer name="definition"><intro><p>“<term refersTo="#term-investment-bank">investment bank</term>” means a company that has permission under Part 4A of the Financial Services and Markets Act 2000 to carry on the regulated activity of—</p></intro><level class="para1"><num>(a)</num><content><p>safeguarding and administering investments,</p></content></level><level class="para1"><num>(b)</num><content><p>managing an AIF or a UCITS,</p></content></level><level class="para1"><num>(c)</num><content><p>acting as trustee or depositary of an AIF or a UCITS,</p></content></level><level class="para1"><num>(d)</num><content><p>dealing in investments as principal, or</p></content></level><level class="para1"><num>(e)</num><content><p>dealing in investments as agent,</p></content></level><wrapUp><p>but does not include a company that has permission to arrange for one or more others to carry on the activity mentioned in paragraph (a) if it does not otherwise have permission to carry on any of the activities mentioned in paragraphs (a) to (e);</p></wrapUp></hcontainer><hcontainer name="definition"><content><p>“<term refersTo="#term-investment-firm">investment firm</term>” has the same meaning as in the Banking Act 2009 (see section 258A of that Act), disregarding any order made under section 258A(2)(b) of that Act;</p></content></hcontainer><hcontainer name="definition"><content><p>“<term refersTo="#term-regulated-activity">regulated activity</term>” has the meaning given by section 22 of the Financial Services and Markets Act 2000, taken with Schedule 2 to that Act and any order under that section.</p></content></hcontainer></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Companies that are party to market contracts or subject to market charges, etc</i></heading><paragraph class="schProv1"><num>7</num><subparagraph><num>(1)</num><content><p>A company is excluded from being eligible if it is a party to a market contract for the purposes of Part 7 of the Companies Act 1989 (see section 155 of that Act).</p></content></subparagraph><subparagraph><num>(2)</num><content><p>A company is excluded from being eligible if any of its property is subject to a market charge for the purposes of Part 7 of the Companies Act 1989 (see section 173 of that Act).</p></content></subparagraph><subparagraph><num>(3)</num><content><p>A company is excluded from being eligible if any of its property is subject to a charge that is a system-charge, within the meaning of the Financial Markets and Insolvency Regulations 1996 (S.I. 1996/1469) (see regulation 2 of those Regulations).</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Participants in designated systems</i></heading><paragraph class="schProv1"><num>8</num><intro><p>A company is excluded from being eligible if—</p></intro><level class="para1"><num>(a)</num><content><p>it is a participant in a designated system, within the meaning of the Financial Markets and Insolvency (Settlement Finality) Regulations 1999 (S.I. 1999/2979) (see regulation 2 of those Regulations), or</p></content></level><level class="para1"><num>(b)</num><content><p>any of its property is subject to a collateral security charge within the meaning of those Regulations (see regulation 2 of those Regulations).</p></content></level></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Payment institutions</i></heading><paragraph class="schProv1"><num>9</num><content><p>A company is excluded from being eligible if it is an authorised payment institution, a small payment institution or a registered account information service provider within the meaning of the Payment Services Regulations 2017 (S.I. 2017/752) (see regulation 2 of those Regulations).</p></content></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Operators of payment systems, infrastructure providers etc</i></heading><paragraph class="schProv1"><num>10</num><intro><p>A company is excluded from being eligible if—</p></intro><level class="para1"><num>(a)</num><content><p>it is the operator of a payment system or an infrastructure provider within the meaning of Part 5 of the Financial Services (Banking Reform) Act 2013 (see section 42 of that Act), or</p></content></level><level class="para1"><num>(b)</num><content><p>it is an infrastructure company, within the meaning of Part 6 of that Act (see section 112 of that Act).</p></content></level></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Recognised investment exchanges, clearing houses and CSDs</i></heading><paragraph class="schProv1"><num>11</num><content><p>A company is excluded from being eligible if it is a recognised investment exchange, a recognised clearing house or a recognised CSD within the meaning of the Financial Services and Markets Act 2000 (see section 285 of that Act).</p></content></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Securitisation companies</i></heading><paragraph class="schProv1"><num>12</num><content><p>A company is excluded from being eligible if it is a securitisation company within the meaning of the Taxation of Securitisation Companies Regulations 2006 (S.I. 2006/3296) (see regulation 4 of those Regulations).</p></content></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Parties to capital market arrangements</i></heading><paragraph class="schProv1"><num>13</num><subparagraph><num>(1)</num><intro><p>A company is excluded from being eligible if, on the filing date—</p></intro><level class="para1"><num>(a)</num><content><p>it is a party to an agreement which is or forms part of a capital market arrangement (see sub-paragraph (2)),</p></content></level><level class="para1"><num>(b)</num><content><p>a party has incurred, or when the agreement was entered into was expected to incur, a debt of at least £10 million under the arrangement (at any time during the life of the capital market arrangement), and</p></content></level><level class="para1"><num>(c)</num><content><p>the arrangement involves the issue of a capital market investment (see paragraph 14).</p></content></level></subparagraph><subparagraph><num>(2)</num><intro><p>For the purposes of this paragraph, an arrangement is a “capital market arrangement” if any of the following applies—</p></intro><level class="para1"><num>(a)</num><content><p>it involves a grant of security to a person holding it as trustee for a person who holds a capital market investment issued by a party to the arrangement;</p></content></level><level class="para1"><num>(b)</num><content><p>at least one party guarantees the performance of obligations of another party;</p></content></level><level class="para1"><num>(c)</num><content><p>at least one party provides security in respect of the performance of obligations of another party;</p></content></level><level class="para1"><num>(d)</num><content><p>the arrangement involves an investment of a kind described in articles 83 to 85 of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 (S.I. 2001/544) (options, futures and contracts for differences).</p></content></level></subparagraph><subparagraph><num>(3)</num><intro><p>For the purposes of sub-paragraph (2)—</p></intro><level class="para1"><num>(a)</num><content><p>a reference to holding a security as trustee includes a reference to holding it as nominee or agent,</p></content></level><level class="para1"><num>(b)</num><content><p>a reference to holding for a person who holds a capital market investment includes a reference to holding for a number of persons at least one of whom holds a capital market investment, and</p></content></level><level class="para1"><num>(c)</num><content><p>a reference to holding a capital market investment is to holding a legal or beneficial interest in it.</p></content></level></subparagraph><subparagraph><num>(4)</num><content><p>For the purposes of sub-paragraph (1)(b), where a debt is denominated wholly or partly in a foreign currency, the sterling equivalent is to be calculated as at the time when the arrangement is entered into.</p></content></subparagraph></paragraph><paragraph class="schProv1"><num>14</num><subparagraph><num>(1)</num><content><p>For the purposes of paragraph 13 an investment is a “capital market investment” if condition A or B is met.</p></content></subparagraph><subparagraph><num>(2)</num><intro><p>Condition A is that the investment—</p></intro><level class="para1"><num>(a)</num><content><p>is within article 77 or 77A of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 (S.I. 2001/544) (debt instruments), and</p></content></level><level class="para1"><num>(b)</num><content><p>is rated, listed or traded or designed to be rated, listed or traded.</p></content></level></subparagraph><subparagraph><num>(3)</num><intro><p>In sub-paragraph (2)—</p></intro><hcontainer name="definition"><content><p>“<term refersTo="#term-listed">listed</term>” means admitted to the official list within the meaning given by section 103(1) of the Financial Services and Markets Act 2000 (interpretation);</p></content></hcontainer><hcontainer name="definition"><content><p>“<term refersTo="#term-rated">rated</term>” means rated for the purposes of investment by an internationally recognised rating agency;</p></content></hcontainer><hcontainer name="definition"><content><p>“<term refersTo="#term-traded">traded</term>” means admitted to trading on a market established under the rules of a recognised investment exchange or on a foreign market.</p></content></hcontainer></subparagraph><subparagraph><num>(4)</num><intro><p>In sub-paragraph (3)—</p></intro><hcontainer name="definition"><content><p>“<term refersTo="#term-foreign-market">foreign market</term>” has the same meaning as “<term refersTo="#term-relevant-market">relevant market</term>” in article 67(2) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (S.I. 2005/1529) (foreign markets);</p></content></hcontainer><hcontainer name="definition"><content><p>“<term refersTo="#term-recognised-investment-exchange">recognised investment exchange</term>” has the meaning given by section 285 of the Financial Services and Markets Act 2000 (recognised investment exchange).</p></content></hcontainer></subparagraph><subparagraph><num>(5)</num><intro><p>Condition B is that the investment consists of a bond or commercial paper issued to one or more of the following—</p></intro><level class="para1"><num>(a)</num><content><p>an investment professional within the meaning of article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (S.I. 2005/1529);</p></content></level><level class="para1"><num>(b)</num><content><p>a person who, when the agreement mentioned in paragraph 13(1) is entered into, is a certified high net worth individual in relation to a communication within the meaning of article 48(2) of that Order;</p></content></level><level class="para1"><num>(c)</num><content><p>a person to whom article 49(2) of that Order applies (high net worth company, etc);</p></content></level><level class="para1"><num>(d)</num><content><p>a person who, when the agreement mentioned in paragraph 13(1) is entered into, is a certified sophisticated investor in relation to a communication within the meaning of article 50(1) of that Order;</p></content></level><level class="para1"><num>(e)</num><content><p>a person in a State other than the United Kingdom who under the law of that State is not prohibited from investing in bonds or commercial paper.</p></content></level></subparagraph><subparagraph><num>(6)</num><intro><p>For the purposes of sub-paragraph (5)—</p></intro><level class="para1"><num>(a)</num><intro><p>in applying article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005—</p></intro><level class="para2"><num>(i)</num><content><p>in article 19(5)(b), ignore the words after “exempt person”,</p></content></level><level class="para2"><num>(ii)</num><content><p><mod>in article 19(5)(c)(i), for the words from “the controlled activity” to the end substitute <quotedText>“
a controlled activity
”</quotedText>, and</mod></p></content></level><level class="para2"><num>(iii)</num><content><p>in article 19(5)(e), ignore the words from “where the communication” to the end;</p></content></level></level><level class="para1"><num>(b)</num><content><p>in applying article 49(2) of that Order, ignore article 49(2)(e);</p></content></level><level class="para1"><num>(c)</num><intro><p>“<term refersTo="#term-bond">bond</term>” means—</p></intro><level class="para2"><num>(i)</num><content><p>a bond that is within article 77(1) of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001, or</p></content></level><level class="para2"><num>(ii)</num><content><p>an alternative finance investment bond within the meaning of article 77A of that Order;</p></content></level></level><level class="para1"><num>(d)</num><content><p>“<term refersTo="#term-commercial-paper">commercial paper</term>” has the meaning given by article 9(3) of that Order.</p></content></level></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Public-private partnership project companies</i></heading><paragraph class="schProv1"><num>15</num><subparagraph><num>(1)</num><intro><p>A company is excluded from being eligible if, on the filing date, it is a project company of a project which—</p></intro><level class="para1"><num>(a)</num><content><p>is a public-private partnership project (see paragraph 16), and</p></content></level><level class="para1"><num>(b)</num><content><p>includes step-in rights (see paragraph 17).</p></content></level></subparagraph><subparagraph><num>(2)</num><intro><p>For the purposes of this paragraph a company is a “project company” of a project if any of the following applies—</p></intro><level class="para1"><num>(a)</num><content><p>it holds property for the purpose of the project;</p></content></level><level class="para1"><num>(b)</num><content><p>it has sole or principal responsibility under an agreement for carrying out all or part of the project;</p></content></level><level class="para1"><num>(c)</num><content><p>it is one of a number of companies which together carry out the project;</p></content></level><level class="para1"><num>(d)</num><content><p>it has the purpose of supplying finance to enable the project to be carried out;</p></content></level><level class="para1"><num>(e)</num><content><p>it is the holding company of a company within any of paragraphs (a) to (d).</p></content></level></subparagraph><subparagraph><num>(3)</num><intro><p>But a company is not a “project company” of a project if—</p></intro><level class="para1"><num>(a)</num><content><p>it performs a function within sub-paragraph (2)(a) to (d) or is within sub-paragraph (2)(e), but</p></content></level><level class="para1"><num>(b)</num><intro><p>it also performs a function which is not—</p></intro><level class="para2"><num>(i)</num><content><p>within sub-paragraph (2)(a) to (d),</p></content></level><level class="para2"><num>(ii)</num><content><p>related to a function within sub-paragraph (2)(a) to (d), or</p></content></level><level class="para2"><num>(iii)</num><content><p>related to the project.</p></content></level></level></subparagraph><subparagraph><num>(4)</num><content><p>For the purposes of this paragraph a company carries out all or part of a project whether or not it acts wholly or partly through agents.</p></content></subparagraph></paragraph><paragraph class="schProv1"><num>16</num><subparagraph><num>(1)</num><intro><p>For the purposes of paragraph 15 “<term refersTo="#term-public-private-partnership-project">public-private partnership project</term>” means a project—</p></intro><level class="para1"><num>(a)</num><content><p>the resources for which are provided partly by one or more public bodies and partly by one or more private persons, or</p></content></level><level class="para1"><num>(b)</num><content><p>which is designed wholly or mainly for the purpose of assisting a public body to discharge a function.</p></content></level></subparagraph><subparagraph><num>(2)</num><intro><p>In sub-paragraph (1) “<term refersTo="#term-public-body">public body</term>” means—</p></intro><level class="para1"><num>(a)</num><content><p>a body which exercises public functions,</p></content></level><level class="para1"><num>(b)</num><content><p>a body specified for the purposes of this paragraph by the Secretary of State, or</p></content></level><level class="para1"><num>(c)</num><content><p>a body within a class specified for the purposes of this paragraph by the Secretary of State.</p></content></level></subparagraph><subparagraph><num>(3)</num><intro><p>In sub-paragraph (1)(a) “<term refersTo="#term-resources">resources</term>” includes—</p></intro><level class="para1"><num>(a)</num><content><p>funds (including payment for the provision of services or facilities);</p></content></level><level class="para1"><num>(b)</num><content><p>assets;</p></content></level><level class="para1"><num>(c)</num><content><p>professional skill;</p></content></level><level class="para1"><num>(d)</num><content><p>the grant of a concession or franchise;</p></content></level><level class="para1"><num>(e)</num><content><p>any other commercial resource.</p></content></level></subparagraph><subparagraph><num>(4)</num><intro><p>A specification under sub-paragraph (2) may be—</p></intro><level class="para1"><num>(a)</num><content><p>general, or</p></content></level><level class="para1"><num>(b)</num><content><p>for the purpose of the application of paragraph 15 to a specified case.</p></content></level></subparagraph></paragraph><paragraph class="schProv1"><num>17</num><subparagraph><num>(1)</num><intro><p>For the purposes of paragraph 15 a project has “step-in rights” if a person who provides finance in connection with the project has a conditional entitlement under an agreement to—</p></intro><level class="para1"><num>(a)</num><content><p>assume sole or principal responsibility under an agreement for carrying out all or part of the project, or</p></content></level><level class="para1"><num>(b)</num><content><p>make arrangements for carrying out all or part of the project.</p></content></level></subparagraph><subparagraph><num>(2)</num><content><p>In sub-paragraph (1) a reference to the provision of finance includes a reference to the provision of an indemnity.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Overseas companies with corresponding functions</i></heading><paragraph class="schProv1"><num>18</num><intro><p>A company is excluded from being eligible if its registered office or head office is outside the United Kingdom and—</p></intro><level class="para1"><num>(a)</num><content><p>its functions correspond to those of a company mentioned in any of the previous paragraphs of this Schedule apart from paragraph 2 and, if it were a company registered under the Companies Act 2006 in England and Wales or Scotland, it would be excluded from being eligible by that paragraph, or</p></content></level><level class="para1"><num>(b)</num><content><p>it has entered into a transaction or done anything else that, if done in England and Wales or Scotland by a company registered under the Companies Act 2006 in England and Wales or Scotland, would result in the company being excluded by any of the previous paragraphs of this Schedule apart from paragraph 2.</p></content></level></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Interpretation of Schedule</i></heading><paragraph class="schProv1"><num>19</num><subparagraph><num>(1)</num><content><p>This paragraph applies for the purposes of this Schedule.</p></content></subparagraph><subparagraph><num>(2)</num><intro><p>“<term refersTo="#term-agreement">Agreement</term>” includes any agreement or undertaking effected by—</p></intro><level class="para1"><num>(a)</num><content><p>contract,</p></content></level><level class="para1"><num>(b)</num><content><p>deed, or</p></content></level><level class="para1"><num>(c)</num><content><p>any other instrument intended to have effect in accordance with the law of England and Wales, Scotland or another jurisdiction.</p></content></level></subparagraph><subparagraph><num>(3)</num><content><p>“<term refersTo="#term-the-filing-date">The filing date</term>” means the date on which documents are filed with the court under section A3, A4 or A5.</p></content></subparagraph><subparagraph><num>(4)</num><intro><p>“Party” to an arrangement includes a party to an agreement which—</p></intro><level class="para1"><num>(a)</num><content><p>forms part of the arrangement,</p></content></level><level class="para1"><num>(b)</num><content><p>provides for the raising of finance as part of the arrangement, or</p></content></level><level class="para1"><num>(c)</num><content><p>is necessary for the purposes of implementing the arrangement.</p></content></level></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Powers to amend Schedule</i></heading><paragraph class="schProv1"><num>20</num><subparagraph><num>(1)</num><content><p>The Secretary of State may by regulations amend this Schedule, apart from paragraph 2, so as to alter the circumstances in which a company is “<term refersTo="#term-eligible">eligible</term>” for the purposes of this Part.</p></content></subparagraph><subparagraph><num>(2)</num><content><p>Regulations under this paragraph are subject to the affirmative resolution procedure.</p></content></subparagraph></paragraph><paragraph class="schProv1"><num>21</num><subparagraph><num>(1)</num><intro><p>The Welsh Ministers may by regulations amend this Schedule—</p></intro><level class="para1"><num>(a)</num><content><p>so as to provide that a social landlord registered under Part 1 of the Housing Act 1996 is excluded from being “<term refersTo="#term-eligible">eligible</term>” for the purposes of this Part;</p></content></level><level class="para1"><num>(b)</num><content><p>so as to reverse the effect of any provision made under paragraph (a).</p></content></level></subparagraph><subparagraph><num>(2)</num><content><p>Regulations under this paragraph extend to England and Wales only.</p></content></subparagraph><subparagraph><num>(3)</num><content><p>A statutory instrument containing regulations under this paragraph may not be made unless a draft of the statutory instrument containing them has been laid before and approved by a resolution of Senedd Cymru.</p></content></subparagraph></paragraph><paragraph class="schProv1"><num>22</num><subparagraph><num>(1)</num><intro><p>The Scottish Ministers may by regulations amend this Schedule—</p></intro><level class="para1"><num>(a)</num><content><p>so as to provide that a social landlord registered under Part 2 of the Housing (Scotland) Act 2010 (asp 17) is excluded from being “<term refersTo="#term-eligible">eligible</term>” for the purposes of this Part;</p></content></level><level class="para1"><num>(b)</num><content><p>so as to reverse the effect of any provision made under paragraph (a).</p></content></level></subparagraph><subparagraph><num>(2)</num><content><p>Regulations under this paragraph extend to Scotland only.</p></content></subparagraph><subparagraph><num>(3)</num><content><p>Regulations under this paragraph are subject to the affirmative procedure (see section 29 of the Interpretation and Legislative Reform (Scotland) Act 2010 (asp 10)).</p></content></subparagraph></paragraph></hcontainer></hcontainer></quotedStructure></mod></p></content></hcontainer></hcontainer>
<hcontainer xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" name="crossheading" class="schGroup7" eId="schedule-1-paragraph-wrapper1n1"><heading/><content><p>In the Insolvency Act 1986, before Schedule A1 (which is repealed by Schedule 3 to this Act) insert—</p><p><mod><quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="unknown" ukl:TargetClass="unknown" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="default"><hcontainer name="schedule"><num>SCHEDULE ZA1<authorialNote class="referenceNote"><p>
Section A2</p></authorialNote></num><heading>Moratorium: Eligible companies</heading><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Eligible companies</i></heading><paragraph class="schProv1"><num>1</num><content><p>A company is “<term refersTo="#term-eligible">eligible</term>” for the purposes of this Part unless it is excluded from being eligible by any of the following—</p><blockList class="unordered none" ukl:Name="UnorderedList" ukl:Decoration="none"><item><p>paragraph 2 (current or recent insolvency procedure);</p></item><item><p>paragraph 3 (insurance companies);</p></item><item><p>paragraph 4 (banks);</p></item><item><p>paragraph 5 (electronic money institutions);</p></item><item><p>paragraph 6 (investment banks and investment firms);</p></item><item><p>paragraph 7 (market contracts, market charges, etc);</p></item><item><p>paragraph 8 (participants in designated systems);</p></item><item><p>paragraph 9 (payment institutions);</p></item><item><p>paragraph 10 (operators of payment systems, infrastructure providers etc);</p></item><item><p>paragraph 11 (recognised investment exchanges, clearing houses and CSDs);</p></item><item><p>paragraph 12 (securitisation companies);</p></item><item><p>paragraph 13 (parties to capital market arrangements);</p></item><item><p>paragraph 15 (public-private partnership project companies);</p></item><item><p>paragraph 18 (certain overseas companies).</p></item></blockList></content></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Companies subject to, or recently subject to, moratorium or an insolvency procedure</i></heading><paragraph class="schProv1"><num>2</num><subparagraph><num>(1)</num><intro><p>A company is excluded from being eligible if—</p></intro><level class="para1"><num>(a)</num><content><p>on the filing date, a moratorium for the company is in force, or</p></content></level><level class="para1"><num>(b)</num><content><p>at any time during the period of 12 months ending with the filing date, a moratorium for the company was in force (but see section A42(6) for power of the court to modify the effect of this paragraph).</p></content></level></subparagraph><subparagraph><num>(2)</num><intro><p>A company is excluded from being eligible if—</p></intro><level class="para1"><num>(a)</num><content><p>on the filing date, the company is subject to an insolvency procedure, or</p></content></level><level class="para1"><num>(b)</num><content><p>at any time during the period of 12 months ending with the filing date, the company was subject to an insolvency procedure within sub-paragraph (3)(a) or (b).</p></content></level></subparagraph><subparagraph><num>(3)</num><intro><p>For the purposes of sub-paragraph (2), a company is subject to an insolvency procedure at any time if at that time—</p></intro><level class="para1"><num>(a)</num><content><p>a voluntary arrangement has effect in relation to the company,</p></content></level><level class="para1"><num>(b)</num><content><p>the company is in administration,</p></content></level><level class="para1"><num>(c)</num><content><p>paragraph 44 of Schedule B1 applies in relation to the company (administration: interim moratorium),</p></content></level><level class="para1"><num>(d)</num><content><p>there is an administrative receiver of the company,</p></content></level><level class="para1"><num>(e)</num><content><p>there is a provisional liquidator of the company,</p></content></level><level class="para1"><num>(f)</num><content><p>the company is being wound up, or</p></content></level><level class="para1"><num>(g)</num><content><p>a relevant petition for the winding up of the company has been presented and has not been withdrawn or determined.</p></content></level></subparagraph><subparagraph><num>(4)</num><intro><p>In sub-paragraph (3)(g) “<term refersTo="#term-relevant-petition">relevant petition</term>” means a petition under—</p></intro><level class="para1"><num>(a)</num><content><p>section 124A (winding up on grounds of public interest),</p></content></level><level class="para1"><num>(b)</num><content><p>section 124B (winding up of SE), or</p></content></level><level class="para1"><num>(c)</num><content><p>section 124C (winding up of SCE).</p></content></level></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Insurance companies</i></heading><paragraph class="schProv1"><num>3</num><subparagraph><num>(1)</num><intro><p>A company is excluded from being eligible if—</p></intro><level class="para1"><num>(a)</num><content><p>it carries on the regulated activity of effecting or carrying out contracts of insurance, and</p></content></level><level class="para1"><num>(b)</num><content><p>it is not an exempt person in relation to that activity.</p></content></level></subparagraph><subparagraph><num>(2)</num><intro><p>In this paragraph—</p></intro><hcontainer name="definition"><content><p>“<term refersTo="#term-exempt-person">exempt person</term>”, in relation to a regulated activity, has the meaning given by section 417 of the Financial Services and Markets Act 2000;</p></content></hcontainer><hcontainer name="definition"><content><p>“<term refersTo="#term-regulated-activity">regulated activity</term>” has the meaning given by section 22 of that Act, taken with Schedule 2 to that Act and any order under that section.</p></content></hcontainer></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Banks</i></heading><paragraph class="schProv1"><num>4</num><subparagraph><num>(1)</num><intro><p>A company is excluded from being eligible if—</p></intro><level class="para1"><num>(a)</num><content><p>it has permission under Part 4A of the Financial Services and Markets Act 2000 to carry on the regulated activity of accepting deposits,</p></content></level><level class="para1"><num>(b)</num><content><p>it is a banking group company within the meaning of Part 1 of the Banking Act 2009 (see section 81D of that Act), or</p></content></level><level class="para1"><num>(c)</num><content><p>it has a liability in respect of a deposit which it accepted in accordance with the Banking Act 1979 or the Banking Act 1987.</p></content></level></subparagraph><subparagraph><num>(2)</num><content><p>In sub-paragraph (1)(a) “<term refersTo="#term-regulated-activity">regulated activity</term>” has the meaning given by section 22 of the Financial Services and Markets Act 2000, taken with Schedule 2 to that Act and any order under that section.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Electronic money institutions</i></heading><paragraph class="schProv1"><num>5</num><content><p>A company is excluded from being eligible if it is an electronic money institution within the meaning of the Electronic Money Regulations 2011 (S.I. 2011/99) (see regulation 2 of those Regulations).</p></content></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Investment banks and investment firms</i></heading><paragraph class="schProv1"><num>6</num><subparagraph><num>(1)</num><content><p>A company is excluded from being eligible if it is an investment bank or an investment firm.</p></content></subparagraph><subparagraph><num>(2)</num><intro><p>In this paragraph—</p></intro><hcontainer name="definition"><intro><p>“<term refersTo="#term-investment-bank">investment bank</term>” means a company that has permission under Part 4A of the Financial Services and Markets Act 2000 to carry on the regulated activity of—</p></intro><level class="para1"><num>(a)</num><content><p>safeguarding and administering investments,</p></content></level><level class="para1"><num>(b)</num><content><p>managing an AIF or a UCITS,</p></content></level><level class="para1"><num>(c)</num><content><p>acting as trustee or depositary of an AIF or a UCITS,</p></content></level><level class="para1"><num>(d)</num><content><p>dealing in investments as principal, or</p></content></level><level class="para1"><num>(e)</num><content><p>dealing in investments as agent,</p></content></level><wrapUp><p>but does not include a company that has permission to arrange for one or more others to carry on the activity mentioned in paragraph (a) if it does not otherwise have permission to carry on any of the activities mentioned in paragraphs (a) to (e);</p></wrapUp></hcontainer><hcontainer name="definition"><content><p>“<term refersTo="#term-investment-firm">investment firm</term>” has the same meaning as in the Banking Act 2009 (see section 258A of that Act), disregarding any order made under section 258A(2)(b) of that Act;</p></content></hcontainer><hcontainer name="definition"><content><p>“<term refersTo="#term-regulated-activity">regulated activity</term>” has the meaning given by section 22 of the Financial Services and Markets Act 2000, taken with Schedule 2 to that Act and any order under that section.</p></content></hcontainer></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Companies that are party to market contracts or subject to market charges, etc</i></heading><paragraph class="schProv1"><num>7</num><subparagraph><num>(1)</num><content><p>A company is excluded from being eligible if it is a party to a market contract for the purposes of Part 7 of the Companies Act 1989 (see section 155 of that Act).</p></content></subparagraph><subparagraph><num>(2)</num><content><p>A company is excluded from being eligible if any of its property is subject to a market charge for the purposes of Part 7 of the Companies Act 1989 (see section 173 of that Act).</p></content></subparagraph><subparagraph><num>(3)</num><content><p>A company is excluded from being eligible if any of its property is subject to a charge that is a system-charge, within the meaning of the Financial Markets and Insolvency Regulations 1996 (S.I. 1996/1469) (see regulation 2 of those Regulations).</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Participants in designated systems</i></heading><paragraph class="schProv1"><num>8</num><intro><p>A company is excluded from being eligible if—</p></intro><level class="para1"><num>(a)</num><content><p>it is a participant in a designated system, within the meaning of the Financial Markets and Insolvency (Settlement Finality) Regulations 1999 (S.I. 1999/2979) (see regulation 2 of those Regulations), or</p></content></level><level class="para1"><num>(b)</num><content><p>any of its property is subject to a collateral security charge within the meaning of those Regulations (see regulation 2 of those Regulations).</p></content></level></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Payment institutions</i></heading><paragraph class="schProv1"><num>9</num><content><p>A company is excluded from being eligible if it is an authorised payment institution, a small payment institution or a registered account information service provider within the meaning of the Payment Services Regulations 2017 (S.I. 2017/752) (see regulation 2 of those Regulations).</p></content></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Operators of payment systems, infrastructure providers etc</i></heading><paragraph class="schProv1"><num>10</num><intro><p>A company is excluded from being eligible if—</p></intro><level class="para1"><num>(a)</num><content><p>it is the operator of a payment system or an infrastructure provider within the meaning of Part 5 of the Financial Services (Banking Reform) Act 2013 (see section 42 of that Act), or</p></content></level><level class="para1"><num>(b)</num><content><p>it is an infrastructure company, within the meaning of Part 6 of that Act (see section 112 of that Act).</p></content></level></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Recognised investment exchanges, clearing houses and CSDs</i></heading><paragraph class="schProv1"><num>11</num><content><p>A company is excluded from being eligible if it is a recognised investment exchange, a recognised clearing house or a recognised CSD within the meaning of the Financial Services and Markets Act 2000 (see section 285 of that Act).</p></content></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Securitisation companies</i></heading><paragraph class="schProv1"><num>12</num><content><p>A company is excluded from being eligible if it is a securitisation company within the meaning of the Taxation of Securitisation Companies Regulations 2006 (S.I. 2006/3296) (see regulation 4 of those Regulations).</p></content></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Parties to capital market arrangements</i></heading><paragraph class="schProv1"><num>13</num><subparagraph><num>(1)</num><intro><p>A company is excluded from being eligible if, on the filing date—</p></intro><level class="para1"><num>(a)</num><content><p>it is a party to an agreement which is or forms part of a capital market arrangement (see sub-paragraph (2)),</p></content></level><level class="para1"><num>(b)</num><content><p>a party has incurred, or when the agreement was entered into was expected to incur, a debt of at least £10 million under the arrangement (at any time during the life of the capital market arrangement), and</p></content></level><level class="para1"><num>(c)</num><content><p>the arrangement involves the issue of a capital market investment (see paragraph 14).</p></content></level></subparagraph><subparagraph><num>(2)</num><intro><p>For the purposes of this paragraph, an arrangement is a “capital market arrangement” if any of the following applies—</p></intro><level class="para1"><num>(a)</num><content><p>it involves a grant of security to a person holding it as trustee for a person who holds a capital market investment issued by a party to the arrangement;</p></content></level><level class="para1"><num>(b)</num><content><p>at least one party guarantees the performance of obligations of another party;</p></content></level><level class="para1"><num>(c)</num><content><p>at least one party provides security in respect of the performance of obligations of another party;</p></content></level><level class="para1"><num>(d)</num><content><p>the arrangement involves an investment of a kind described in articles 83 to 85 of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 (S.I. 2001/544) (options, futures and contracts for differences).</p></content></level></subparagraph><subparagraph><num>(3)</num><intro><p>For the purposes of sub-paragraph (2)—</p></intro><level class="para1"><num>(a)</num><content><p>a reference to holding a security as trustee includes a reference to holding it as nominee or agent,</p></content></level><level class="para1"><num>(b)</num><content><p>a reference to holding for a person who holds a capital market investment includes a reference to holding for a number of persons at least one of whom holds a capital market investment, and</p></content></level><level class="para1"><num>(c)</num><content><p>a reference to holding a capital market investment is to holding a legal or beneficial interest in it.</p></content></level></subparagraph><subparagraph><num>(4)</num><content><p>For the purposes of sub-paragraph (1)(b), where a debt is denominated wholly or partly in a foreign currency, the sterling equivalent is to be calculated as at the time when the arrangement is entered into.</p></content></subparagraph></paragraph><paragraph class="schProv1"><num>14</num><subparagraph><num>(1)</num><content><p>For the purposes of paragraph 13 an investment is a “capital market investment” if condition A or B is met.</p></content></subparagraph><subparagraph><num>(2)</num><intro><p>Condition A is that the investment—</p></intro><level class="para1"><num>(a)</num><content><p>is within article 77 or 77A of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 (S.I. 2001/544) (debt instruments), and</p></content></level><level class="para1"><num>(b)</num><content><p>is rated, listed or traded or designed to be rated, listed or traded.</p></content></level></subparagraph><subparagraph><num>(3)</num><intro><p>In sub-paragraph (2)—</p></intro><hcontainer name="definition"><content><p>“<term refersTo="#term-listed">listed</term>” means admitted to the official list within the meaning given by section 103(1) of the Financial Services and Markets Act 2000 (interpretation);</p></content></hcontainer><hcontainer name="definition"><content><p>“<term refersTo="#term-rated">rated</term>” means rated for the purposes of investment by an internationally recognised rating agency;</p></content></hcontainer><hcontainer name="definition"><content><p>“<term refersTo="#term-traded">traded</term>” means admitted to trading on a market established under the rules of a recognised investment exchange or on a foreign market.</p></content></hcontainer></subparagraph><subparagraph><num>(4)</num><intro><p>In sub-paragraph (3)—</p></intro><hcontainer name="definition"><content><p>“<term refersTo="#term-foreign-market">foreign market</term>” has the same meaning as “<term refersTo="#term-relevant-market">relevant market</term>” in article 67(2) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (S.I. 2005/1529) (foreign markets);</p></content></hcontainer><hcontainer name="definition"><content><p>“<term refersTo="#term-recognised-investment-exchange">recognised investment exchange</term>” has the meaning given by section 285 of the Financial Services and Markets Act 2000 (recognised investment exchange).</p></content></hcontainer></subparagraph><subparagraph><num>(5)</num><intro><p>Condition B is that the investment consists of a bond or commercial paper issued to one or more of the following—</p></intro><level class="para1"><num>(a)</num><content><p>an investment professional within the meaning of article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (S.I. 2005/1529);</p></content></level><level class="para1"><num>(b)</num><content><p>a person who, when the agreement mentioned in paragraph 13(1) is entered into, is a certified high net worth individual in relation to a communication within the meaning of article 48(2) of that Order;</p></content></level><level class="para1"><num>(c)</num><content><p>a person to whom article 49(2) of that Order applies (high net worth company, etc);</p></content></level><level class="para1"><num>(d)</num><content><p>a person who, when the agreement mentioned in paragraph 13(1) is entered into, is a certified sophisticated investor in relation to a communication within the meaning of article 50(1) of that Order;</p></content></level><level class="para1"><num>(e)</num><content><p>a person in a State other than the United Kingdom who under the law of that State is not prohibited from investing in bonds or commercial paper.</p></content></level></subparagraph><subparagraph><num>(6)</num><intro><p>For the purposes of sub-paragraph (5)—</p></intro><level class="para1"><num>(a)</num><intro><p>in applying article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005—</p></intro><level class="para2"><num>(i)</num><content><p>in article 19(5)(b), ignore the words after “exempt person”,</p></content></level><level class="para2"><num>(ii)</num><content><p><mod>in article 19(5)(c)(i), for the words from “the controlled activity” to the end substitute <quotedText>“
a controlled activity
”</quotedText>, and</mod></p></content></level><level class="para2"><num>(iii)</num><content><p>in article 19(5)(e), ignore the words from “where the communication” to the end;</p></content></level></level><level class="para1"><num>(b)</num><content><p>in applying article 49(2) of that Order, ignore article 49(2)(e);</p></content></level><level class="para1"><num>(c)</num><intro><p>“<term refersTo="#term-bond">bond</term>” means—</p></intro><level class="para2"><num>(i)</num><content><p>a bond that is within article 77(1) of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001, or</p></content></level><level class="para2"><num>(ii)</num><content><p>an alternative finance investment bond within the meaning of article 77A of that Order;</p></content></level></level><level class="para1"><num>(d)</num><content><p>“<term refersTo="#term-commercial-paper">commercial paper</term>” has the meaning given by article 9(3) of that Order.</p></content></level></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Public-private partnership project companies</i></heading><paragraph class="schProv1"><num>15</num><subparagraph><num>(1)</num><intro><p>A company is excluded from being eligible if, on the filing date, it is a project company of a project which—</p></intro><level class="para1"><num>(a)</num><content><p>is a public-private partnership project (see paragraph 16), and</p></content></level><level class="para1"><num>(b)</num><content><p>includes step-in rights (see paragraph 17).</p></content></level></subparagraph><subparagraph><num>(2)</num><intro><p>For the purposes of this paragraph a company is a “project company” of a project if any of the following applies—</p></intro><level class="para1"><num>(a)</num><content><p>it holds property for the purpose of the project;</p></content></level><level class="para1"><num>(b)</num><content><p>it has sole or principal responsibility under an agreement for carrying out all or part of the project;</p></content></level><level class="para1"><num>(c)</num><content><p>it is one of a number of companies which together carry out the project;</p></content></level><level class="para1"><num>(d)</num><content><p>it has the purpose of supplying finance to enable the project to be carried out;</p></content></level><level class="para1"><num>(e)</num><content><p>it is the holding company of a company within any of paragraphs (a) to (d).</p></content></level></subparagraph><subparagraph><num>(3)</num><intro><p>But a company is not a “project company” of a project if—</p></intro><level class="para1"><num>(a)</num><content><p>it performs a function within sub-paragraph (2)(a) to (d) or is within sub-paragraph (2)(e), but</p></content></level><level class="para1"><num>(b)</num><intro><p>it also performs a function which is not—</p></intro><level class="para2"><num>(i)</num><content><p>within sub-paragraph (2)(a) to (d),</p></content></level><level class="para2"><num>(ii)</num><content><p>related to a function within sub-paragraph (2)(a) to (d), or</p></content></level><level class="para2"><num>(iii)</num><content><p>related to the project.</p></content></level></level></subparagraph><subparagraph><num>(4)</num><content><p>For the purposes of this paragraph a company carries out all or part of a project whether or not it acts wholly or partly through agents.</p></content></subparagraph></paragraph><paragraph class="schProv1"><num>16</num><subparagraph><num>(1)</num><intro><p>For the purposes of paragraph 15 “<term refersTo="#term-public-private-partnership-project">public-private partnership project</term>” means a project—</p></intro><level class="para1"><num>(a)</num><content><p>the resources for which are provided partly by one or more public bodies and partly by one or more private persons, or</p></content></level><level class="para1"><num>(b)</num><content><p>which is designed wholly or mainly for the purpose of assisting a public body to discharge a function.</p></content></level></subparagraph><subparagraph><num>(2)</num><intro><p>In sub-paragraph (1) “<term refersTo="#term-public-body">public body</term>” means—</p></intro><level class="para1"><num>(a)</num><content><p>a body which exercises public functions,</p></content></level><level class="para1"><num>(b)</num><content><p>a body specified for the purposes of this paragraph by the Secretary of State, or</p></content></level><level class="para1"><num>(c)</num><content><p>a body within a class specified for the purposes of this paragraph by the Secretary of State.</p></content></level></subparagraph><subparagraph><num>(3)</num><intro><p>In sub-paragraph (1)(a) “<term refersTo="#term-resources">resources</term>” includes—</p></intro><level class="para1"><num>(a)</num><content><p>funds (including payment for the provision of services or facilities);</p></content></level><level class="para1"><num>(b)</num><content><p>assets;</p></content></level><level class="para1"><num>(c)</num><content><p>professional skill;</p></content></level><level class="para1"><num>(d)</num><content><p>the grant of a concession or franchise;</p></content></level><level class="para1"><num>(e)</num><content><p>any other commercial resource.</p></content></level></subparagraph><subparagraph><num>(4)</num><intro><p>A specification under sub-paragraph (2) may be—</p></intro><level class="para1"><num>(a)</num><content><p>general, or</p></content></level><level class="para1"><num>(b)</num><content><p>for the purpose of the application of paragraph 15 to a specified case.</p></content></level></subparagraph></paragraph><paragraph class="schProv1"><num>17</num><subparagraph><num>(1)</num><intro><p>For the purposes of paragraph 15 a project has “step-in rights” if a person who provides finance in connection with the project has a conditional entitlement under an agreement to—</p></intro><level class="para1"><num>(a)</num><content><p>assume sole or principal responsibility under an agreement for carrying out all or part of the project, or</p></content></level><level class="para1"><num>(b)</num><content><p>make arrangements for carrying out all or part of the project.</p></content></level></subparagraph><subparagraph><num>(2)</num><content><p>In sub-paragraph (1) a reference to the provision of finance includes a reference to the provision of an indemnity.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Overseas companies with corresponding functions</i></heading><paragraph class="schProv1"><num>18</num><intro><p>A company is excluded from being eligible if its registered office or head office is outside the United Kingdom and—</p></intro><level class="para1"><num>(a)</num><content><p>its functions correspond to those of a company mentioned in any of the previous paragraphs of this Schedule apart from paragraph 2 and, if it were a company registered under the Companies Act 2006 in England and Wales or Scotland, it would be excluded from being eligible by that paragraph, or</p></content></level><level class="para1"><num>(b)</num><content><p>it has entered into a transaction or done anything else that, if done in England and Wales or Scotland by a company registered under the Companies Act 2006 in England and Wales or Scotland, would result in the company being excluded by any of the previous paragraphs of this Schedule apart from paragraph 2.</p></content></level></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Interpretation of Schedule</i></heading><paragraph class="schProv1"><num>19</num><subparagraph><num>(1)</num><content><p>This paragraph applies for the purposes of this Schedule.</p></content></subparagraph><subparagraph><num>(2)</num><intro><p>“<term refersTo="#term-agreement">Agreement</term>” includes any agreement or undertaking effected by—</p></intro><level class="para1"><num>(a)</num><content><p>contract,</p></content></level><level class="para1"><num>(b)</num><content><p>deed, or</p></content></level><level class="para1"><num>(c)</num><content><p>any other instrument intended to have effect in accordance with the law of England and Wales, Scotland or another jurisdiction.</p></content></level></subparagraph><subparagraph><num>(3)</num><content><p>“<term refersTo="#term-the-filing-date">The filing date</term>” means the date on which documents are filed with the court under section A3, A4 or A5.</p></content></subparagraph><subparagraph><num>(4)</num><intro><p>“Party” to an arrangement includes a party to an agreement which—</p></intro><level class="para1"><num>(a)</num><content><p>forms part of the arrangement,</p></content></level><level class="para1"><num>(b)</num><content><p>provides for the raising of finance as part of the arrangement, or</p></content></level><level class="para1"><num>(c)</num><content><p>is necessary for the purposes of implementing the arrangement.</p></content></level></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Powers to amend Schedule</i></heading><paragraph class="schProv1"><num>20</num><subparagraph><num>(1)</num><content><p>The Secretary of State may by regulations amend this Schedule, apart from paragraph 2, so as to alter the circumstances in which a company is “<term refersTo="#term-eligible">eligible</term>” for the purposes of this Part.</p></content></subparagraph><subparagraph><num>(2)</num><content><p>Regulations under this paragraph are subject to the affirmative resolution procedure.</p></content></subparagraph></paragraph><paragraph class="schProv1"><num>21</num><subparagraph><num>(1)</num><intro><p>The Welsh Ministers may by regulations amend this Schedule—</p></intro><level class="para1"><num>(a)</num><content><p>so as to provide that a social landlord registered under Part 1 of the Housing Act 1996 is excluded from being “<term refersTo="#term-eligible">eligible</term>” for the purposes of this Part;</p></content></level><level class="para1"><num>(b)</num><content><p>so as to reverse the effect of any provision made under paragraph (a).</p></content></level></subparagraph><subparagraph><num>(2)</num><content><p>Regulations under this paragraph extend to England and Wales only.</p></content></subparagraph><subparagraph><num>(3)</num><content><p>A statutory instrument containing regulations under this paragraph may not be made unless a draft of the statutory instrument containing them has been laid before and approved by a resolution of Senedd Cymru.</p></content></subparagraph></paragraph><paragraph class="schProv1"><num>22</num><subparagraph><num>(1)</num><intro><p>The Scottish Ministers may by regulations amend this Schedule—</p></intro><level class="para1"><num>(a)</num><content><p>so as to provide that a social landlord registered under Part 2 of the Housing (Scotland) Act 2010 (asp 17) is excluded from being “<term refersTo="#term-eligible">eligible</term>” for the purposes of this Part;</p></content></level><level class="para1"><num>(b)</num><content><p>so as to reverse the effect of any provision made under paragraph (a).</p></content></level></subparagraph><subparagraph><num>(2)</num><content><p>Regulations under this paragraph extend to Scotland only.</p></content></subparagraph><subparagraph><num>(3)</num><content><p>Regulations under this paragraph are subject to the affirmative procedure (see section 29 of the Interpretation and Legislative Reform (Scotland) Act 2010 (asp 10)).</p></content></subparagraph></paragraph></hcontainer></hcontainer></quotedStructure></mod></p></content></hcontainer>
<hcontainer xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" name="schedule" eId="schedule-2"><num>SCHEDULE 2<authorialNote class="referenceNote"><p>
Section 1(3)</p></authorialNote></num><heading>Moratoriums in Great Britain: contracts involving financial services</heading><hcontainer name="crossheading" class="schGroup7" eId="schedule-2-paragraph-wrapper2n1"><heading/><content><p>In the Insolvency Act 1986, after Schedule ZA1 (inserted by Schedule 1 to this Act) insert—</p><p><mod><quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="unknown" ukl:TargetClass="unknown" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="default"><hcontainer name="schedule"><num>SCHEDULE ZA2<authorialNote class="referenceNote"><p>
Section A18</p></authorialNote></num><heading>Moratorium: contract or other instrument involving financial services</heading><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Introductory</i></heading><paragraph class="schProv1"><num>1</num><content><p>For the purposes of section A18 “<term refersTo="#term-contract-or-other-instrument-involving-financial-services">contract or other instrument involving financial services</term>” means a contract or other instrument to which any of the following paragraphs applies.</p></content></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Financial contracts</i></heading><paragraph class="schProv1"><num>2</num><subparagraph><num>(1)</num><content><p>This paragraph applies to a financial contract.</p></content></subparagraph><subparagraph><num>(2)</num><intro><p>“<term refersTo="#term-financial-contract">Financial contract</term>” means—</p></intro><level class="para1"><num>(a)</num><intro><p>a contract for the provision of financial services consisting of—</p></intro><level class="para2"><num>(i)</num><content><p>lending (including the factoring and financing of commercial transactions),</p></content></level><level class="para2"><num>(ii)</num><content><p>financial leasing, or</p></content></level><level class="para2"><num>(iii)</num><content><p>providing guarantees or commitments;</p></content></level></level><level class="para1"><num>(b)</num><intro><p>a securities contract, including—</p></intro><level class="para2"><num>(i)</num><content><p>a contract for the purchase, sale or loan of a security, group or index of securities;</p></content></level><level class="para2"><num>(ii)</num><content><p>an option on a security or group or index of securities;</p></content></level><level class="para2"><num>(iii)</num><content><p>a repurchase or reverse repurchase transaction on any such security, group or index;</p></content></level></level><level class="para1"><num>(c)</num><intro><p>a commodities contract, including—</p></intro><level class="para2"><num>(i)</num><content><p>a contract for the purchase, sale or loan of a commodity or group or index of commodities for future delivery;</p></content></level><level class="para2"><num>(ii)</num><content><p>an option on a commodity or group or index of commodities;</p></content></level><level class="para2"><num>(iii)</num><content><p>a repurchase or reverse repurchase transaction on any such commodity, group or index;</p></content></level></level><level class="para1"><num>(d)</num><content><p>a futures or forwards contract, including a contract (other than a commodities contract) for the purchase, sale or transfer of a commodity or property of any other description, service, right or interest for a specified price at a future date;</p></content></level><level class="para1"><num>(e)</num><intro><p>a swap agreement, including—</p></intro><level class="para2"><num>(i)</num><content><p>a swap or option relating to interest rates, spot or other foreign exchange agreements, currency, an equity index or equity, a debt index or debt, commodity indexes or commodities, weather, emissions or inflation;</p></content></level><level class="para2"><num>(ii)</num><content><p>a total return, credit spread or credit swap;</p></content></level><level class="para2"><num>(iii)</num><content><p>any agreement or transaction that is similar to an agreement that is referred to in sub-paragraph (i) or (ii) and is the subject of recurrent dealing in the swaps or derivatives markets;</p></content></level></level><level class="para1"><num>(f)</num><content><p>an inter-bank borrowing agreement where the term of the borrowing is three months or less;</p></content></level><level class="para1"><num>(g)</num><content><p>a master agreement for any of the contracts or agreements referred to in paragraphs (a) to (f).</p></content></level></subparagraph><subparagraph><num>(3)</num><intro><p>For the purposes of this paragraph “<term refersTo="#term-commodities">commodities</term>” includes—</p></intro><level class="para1"><num>(a)</num><content><p>units recognised for compliance with the requirements of EU Directive <ref eId="c00001" href="http://www.legislation.gov.uk/european/directive/2003/0087">2003/87/EC</ref> establishing a scheme for greenhouse gas emission allowance trading,</p></content></level><level class="para1"><num>(b)</num><content><p>allowances under paragraph 5 of Schedule 2 to the Climate Change Act 2008 relating to a trading scheme dealt with under Part 1 of that Schedule (schemes limiting activities relating to emissions of greenhouse gas), and</p></content></level><level class="para1"><num>(c)</num><intro><p>renewables obligation certificates issued—</p></intro><level class="para2"><num>(i)</num><content><p>by the Gas and Electricity Markets Authority under an order made under section 32B of the Electricity Act 1989, or</p></content></level><level class="para2"><num>(ii)</num><content><p>by the Northern Ireland Authority for Utility Regulation under the Energy (Northern Ireland) Order 2003 (S.I. 2003/419 (N.I. 6)) and pursuant to an order made under Articles 52 to 55F of that Order.</p></content></level></level></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Securities financing transactions</i></heading><paragraph class="schProv1"><num>3</num><subparagraph><num>(1)</num><intro><p>This paragraph applies to—</p></intro><level class="para1"><num>(a)</num><content><p>a securities financing transaction, and</p></content></level><level class="para1"><num>(b)</num><content><p>a master agreement for securities financing transactions.</p></content></level></subparagraph><subparagraph><num>(2)</num><content><p>“<term refersTo="#term-securities-financing-transaction">Securities financing transaction</term>” has the meaning given by Article 3(11) of <ref href="http://www.legislation.gov.uk/european/regulation/2015/2365">Regulation (EU) 2015/2365</ref> on the transparency of securities financing transactions.</p></content></subparagraph><subparagraph><num>(3)</num><content><p>But for the purposes of that Article as it applies for the purposes of this paragraph, references to “commodities” in that Regulation are to be taken as including the units, allowances and certificates referred to in paragraph 2(3)(a), (b) and (c).</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Derivatives</i></heading><paragraph class="schProv1"><num>4</num><subparagraph><num>(1)</num><intro><p>This paragraph applies to—</p></intro><level class="para1"><num>(a)</num><content><p>a derivative, and</p></content></level><level class="para1"><num>(b)</num><content><p>a master agreement for derivatives.</p></content></level></subparagraph><subparagraph><num>(2)</num><content><p>“<term refersTo="#term-derivative">Derivative</term>” has the meaning given by Article 2(5) of <ref href="http://www.legislation.gov.uk/european/regulation/2012/0648">Regulation (EU) No. 648/2012</ref>.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Spot contracts</i></heading><paragraph class="schProv1"><num>5</num><subparagraph><num>(1)</num><intro><p>This paragraph applies to—</p></intro><level class="para1"><num>(a)</num><content><p>a spot contract, and</p></content></level><level class="para1"><num>(b)</num><content><p>a master agreement for spot contracts.</p></content></level></subparagraph><subparagraph><num>(2)</num><content><p>“<term refersTo="#term-spot-contract">Spot contract</term>” has the meaning given by Article 7(2) or 10(2) of Commission Delegated Regulation of 25.4.2016 supplementing <ref href="http://www.legislation.gov.uk/european/directive/2014/0065">Directive 2014/65/EU</ref> of the European Parliament and of the Council as regards organisational requirements and operating conditions for investment firms and defined terms for the purposes of that Directive.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Capital market investments</i></heading><paragraph class="schProv1"><num>6</num><subparagraph><num>(1)</num><content><p>This paragraph applies to an agreement which is, or forms part of, an arrangement involving the issue of a capital market investment.</p></content></subparagraph><subparagraph><num>(2)</num><content><p>“<term refersTo="#term-capital-market-investment">Capital market investment</term>” has the meaning given by paragraph 14 of Schedule ZA1.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Contracts forming part of a public-private partnership</i></heading><paragraph class="schProv1"><num>7</num><content><p>This paragraph applies to a contract forming part of a public-private partnership project within the meaning given by paragraph 16 of Schedule ZA1.</p></content></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Market contracts</i></heading><paragraph class="schProv1"><num>8</num><content><p>This paragraph applies to a market contract within the meaning of Part 7 of the Companies Act 1989 (see section 155 of that Act).</p></content></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Qualifying collateral arrangements and qualifying property transfers</i></heading><paragraph class="schProv1"><num>9</num><content><p>This paragraph applies to qualifying collateral arrangements and qualifying property transfers within the meaning of Part 7 of the Companies Act 1989 (see section 155A of that Act).</p></content></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Contracts secured by certain charges or arrangements</i></heading><paragraph class="schProv1"><num>10</num><intro><p>This paragraph applies to a contract where any obligation under the contract is—</p></intro><level class="para1"><num>(a)</num><content><p>secured by a market charge within the meaning of Part 7 of the Companies Act 1989 (see section 173 of that Act),</p></content></level><level class="para1"><num>(b)</num><content><p>secured by a system-charge within the meaning of the Financial Markets and Insolvency Regulations 1996 (S.I. 1996/1469) (see regulation 2 of those Regulations), or</p></content></level><level class="para1"><num>(c)</num><content><p>secured or otherwise covered by a financial collateral arrangement within the meaning of the Financial Collateral Arrangements (No. 2) Regulations 2003 (S.I. 2003/3226) (see regulation 3 of those Regulations).</p></content></level></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Default arrangements and transfer orders</i></heading><paragraph class="schProv1"><num>11</num><content><p>This paragraph applies to a contract which is included in default arrangements, or a transfer order, within the meaning of the Financial Markets and Insolvency (Settlement Finality) Regulations 1999 (S.I. 1999/2979) (see regulation 2 of those Regulations).</p></content></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Card-based payment transactions</i></heading><paragraph class="schProv1"><num>12</num><content><p>This paragraph applies to a contract to accept and process card-based payment transactions within the meaning given by <ref href="http://www.legislation.gov.uk/european/regulation/2015/0751">Regulation (EU) 2015/751</ref> of the European Parliament and of the Council of 29th April 2015 on interchange fees for card-based payment transactions.</p></content></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Power to amend Schedule</i></heading><paragraph class="schProv1"><num>13</num><subparagraph><num>(1)</num><content><p>The Secretary of State may by regulations amend this Schedule so as to change the meaning of “<term refersTo="#term-contract-or-other-instrument-involving-financial-services">contract or other instrument involving financial services</term>” for the purposes of section A18.</p></content></subparagraph><subparagraph><num>(2)</num><content><p>Regulations under this paragraph are subject to the affirmative resolution procedure.</p></content></subparagraph></paragraph></hcontainer></hcontainer></quotedStructure></mod></p></content></hcontainer></hcontainer>
<hcontainer xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" name="crossheading" class="schGroup7" eId="schedule-2-paragraph-wrapper2n1"><heading/><content><p>In the Insolvency Act 1986, after Schedule ZA1 (inserted by Schedule 1 to this Act) insert—</p><p><mod><quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="unknown" ukl:TargetClass="unknown" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="default"><hcontainer name="schedule"><num>SCHEDULE ZA2<authorialNote class="referenceNote"><p>
Section A18</p></authorialNote></num><heading>Moratorium: contract or other instrument involving financial services</heading><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Introductory</i></heading><paragraph class="schProv1"><num>1</num><content><p>For the purposes of section A18 “<term refersTo="#term-contract-or-other-instrument-involving-financial-services">contract or other instrument involving financial services</term>” means a contract or other instrument to which any of the following paragraphs applies.</p></content></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Financial contracts</i></heading><paragraph class="schProv1"><num>2</num><subparagraph><num>(1)</num><content><p>This paragraph applies to a financial contract.</p></content></subparagraph><subparagraph><num>(2)</num><intro><p>“<term refersTo="#term-financial-contract">Financial contract</term>” means—</p></intro><level class="para1"><num>(a)</num><intro><p>a contract for the provision of financial services consisting of—</p></intro><level class="para2"><num>(i)</num><content><p>lending (including the factoring and financing of commercial transactions),</p></content></level><level class="para2"><num>(ii)</num><content><p>financial leasing, or</p></content></level><level class="para2"><num>(iii)</num><content><p>providing guarantees or commitments;</p></content></level></level><level class="para1"><num>(b)</num><intro><p>a securities contract, including—</p></intro><level class="para2"><num>(i)</num><content><p>a contract for the purchase, sale or loan of a security, group or index of securities;</p></content></level><level class="para2"><num>(ii)</num><content><p>an option on a security or group or index of securities;</p></content></level><level class="para2"><num>(iii)</num><content><p>a repurchase or reverse repurchase transaction on any such security, group or index;</p></content></level></level><level class="para1"><num>(c)</num><intro><p>a commodities contract, including—</p></intro><level class="para2"><num>(i)</num><content><p>a contract for the purchase, sale or loan of a commodity or group or index of commodities for future delivery;</p></content></level><level class="para2"><num>(ii)</num><content><p>an option on a commodity or group or index of commodities;</p></content></level><level class="para2"><num>(iii)</num><content><p>a repurchase or reverse repurchase transaction on any such commodity, group or index;</p></content></level></level><level class="para1"><num>(d)</num><content><p>a futures or forwards contract, including a contract (other than a commodities contract) for the purchase, sale or transfer of a commodity or property of any other description, service, right or interest for a specified price at a future date;</p></content></level><level class="para1"><num>(e)</num><intro><p>a swap agreement, including—</p></intro><level class="para2"><num>(i)</num><content><p>a swap or option relating to interest rates, spot or other foreign exchange agreements, currency, an equity index or equity, a debt index or debt, commodity indexes or commodities, weather, emissions or inflation;</p></content></level><level class="para2"><num>(ii)</num><content><p>a total return, credit spread or credit swap;</p></content></level><level class="para2"><num>(iii)</num><content><p>any agreement or transaction that is similar to an agreement that is referred to in sub-paragraph (i) or (ii) and is the subject of recurrent dealing in the swaps or derivatives markets;</p></content></level></level><level class="para1"><num>(f)</num><content><p>an inter-bank borrowing agreement where the term of the borrowing is three months or less;</p></content></level><level class="para1"><num>(g)</num><content><p>a master agreement for any of the contracts or agreements referred to in paragraphs (a) to (f).</p></content></level></subparagraph><subparagraph><num>(3)</num><intro><p>For the purposes of this paragraph “<term refersTo="#term-commodities">commodities</term>” includes—</p></intro><level class="para1"><num>(a)</num><content><p>units recognised for compliance with the requirements of EU Directive <ref eId="c00001" href="http://www.legislation.gov.uk/european/directive/2003/0087">2003/87/EC</ref> establishing a scheme for greenhouse gas emission allowance trading,</p></content></level><level class="para1"><num>(b)</num><content><p>allowances under paragraph 5 of Schedule 2 to the Climate Change Act 2008 relating to a trading scheme dealt with under Part 1 of that Schedule (schemes limiting activities relating to emissions of greenhouse gas), and</p></content></level><level class="para1"><num>(c)</num><intro><p>renewables obligation certificates issued—</p></intro><level class="para2"><num>(i)</num><content><p>by the Gas and Electricity Markets Authority under an order made under section 32B of the Electricity Act 1989, or</p></content></level><level class="para2"><num>(ii)</num><content><p>by the Northern Ireland Authority for Utility Regulation under the Energy (Northern Ireland) Order 2003 (S.I. 2003/419 (N.I. 6)) and pursuant to an order made under Articles 52 to 55F of that Order.</p></content></level></level></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Securities financing transactions</i></heading><paragraph class="schProv1"><num>3</num><subparagraph><num>(1)</num><intro><p>This paragraph applies to—</p></intro><level class="para1"><num>(a)</num><content><p>a securities financing transaction, and</p></content></level><level class="para1"><num>(b)</num><content><p>a master agreement for securities financing transactions.</p></content></level></subparagraph><subparagraph><num>(2)</num><content><p>“<term refersTo="#term-securities-financing-transaction">Securities financing transaction</term>” has the meaning given by Article 3(11) of <ref href="http://www.legislation.gov.uk/european/regulation/2015/2365">Regulation (EU) 2015/2365</ref> on the transparency of securities financing transactions.</p></content></subparagraph><subparagraph><num>(3)</num><content><p>But for the purposes of that Article as it applies for the purposes of this paragraph, references to “commodities” in that Regulation are to be taken as including the units, allowances and certificates referred to in paragraph 2(3)(a), (b) and (c).</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Derivatives</i></heading><paragraph class="schProv1"><num>4</num><subparagraph><num>(1)</num><intro><p>This paragraph applies to—</p></intro><level class="para1"><num>(a)</num><content><p>a derivative, and</p></content></level><level class="para1"><num>(b)</num><content><p>a master agreement for derivatives.</p></content></level></subparagraph><subparagraph><num>(2)</num><content><p>“<term refersTo="#term-derivative">Derivative</term>” has the meaning given by Article 2(5) of <ref href="http://www.legislation.gov.uk/european/regulation/2012/0648">Regulation (EU) No. 648/2012</ref>.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Spot contracts</i></heading><paragraph class="schProv1"><num>5</num><subparagraph><num>(1)</num><intro><p>This paragraph applies to—</p></intro><level class="para1"><num>(a)</num><content><p>a spot contract, and</p></content></level><level class="para1"><num>(b)</num><content><p>a master agreement for spot contracts.</p></content></level></subparagraph><subparagraph><num>(2)</num><content><p>“<term refersTo="#term-spot-contract">Spot contract</term>” has the meaning given by Article 7(2) or 10(2) of Commission Delegated Regulation of 25.4.2016 supplementing <ref href="http://www.legislation.gov.uk/european/directive/2014/0065">Directive 2014/65/EU</ref> of the European Parliament and of the Council as regards organisational requirements and operating conditions for investment firms and defined terms for the purposes of that Directive.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Capital market investments</i></heading><paragraph class="schProv1"><num>6</num><subparagraph><num>(1)</num><content><p>This paragraph applies to an agreement which is, or forms part of, an arrangement involving the issue of a capital market investment.</p></content></subparagraph><subparagraph><num>(2)</num><content><p>“<term refersTo="#term-capital-market-investment">Capital market investment</term>” has the meaning given by paragraph 14 of Schedule ZA1.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Contracts forming part of a public-private partnership</i></heading><paragraph class="schProv1"><num>7</num><content><p>This paragraph applies to a contract forming part of a public-private partnership project within the meaning given by paragraph 16 of Schedule ZA1.</p></content></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Market contracts</i></heading><paragraph class="schProv1"><num>8</num><content><p>This paragraph applies to a market contract within the meaning of Part 7 of the Companies Act 1989 (see section 155 of that Act).</p></content></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Qualifying collateral arrangements and qualifying property transfers</i></heading><paragraph class="schProv1"><num>9</num><content><p>This paragraph applies to qualifying collateral arrangements and qualifying property transfers within the meaning of Part 7 of the Companies Act 1989 (see section 155A of that Act).</p></content></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Contracts secured by certain charges or arrangements</i></heading><paragraph class="schProv1"><num>10</num><intro><p>This paragraph applies to a contract where any obligation under the contract is—</p></intro><level class="para1"><num>(a)</num><content><p>secured by a market charge within the meaning of Part 7 of the Companies Act 1989 (see section 173 of that Act),</p></content></level><level class="para1"><num>(b)</num><content><p>secured by a system-charge within the meaning of the Financial Markets and Insolvency Regulations 1996 (S.I. 1996/1469) (see regulation 2 of those Regulations), or</p></content></level><level class="para1"><num>(c)</num><content><p>secured or otherwise covered by a financial collateral arrangement within the meaning of the Financial Collateral Arrangements (No. 2) Regulations 2003 (S.I. 2003/3226) (see regulation 3 of those Regulations).</p></content></level></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Default arrangements and transfer orders</i></heading><paragraph class="schProv1"><num>11</num><content><p>This paragraph applies to a contract which is included in default arrangements, or a transfer order, within the meaning of the Financial Markets and Insolvency (Settlement Finality) Regulations 1999 (S.I. 1999/2979) (see regulation 2 of those Regulations).</p></content></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Card-based payment transactions</i></heading><paragraph class="schProv1"><num>12</num><content><p>This paragraph applies to a contract to accept and process card-based payment transactions within the meaning given by <ref href="http://www.legislation.gov.uk/european/regulation/2015/0751">Regulation (EU) 2015/751</ref> of the European Parliament and of the Council of 29th April 2015 on interchange fees for card-based payment transactions.</p></content></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Power to amend Schedule</i></heading><paragraph class="schProv1"><num>13</num><subparagraph><num>(1)</num><content><p>The Secretary of State may by regulations amend this Schedule so as to change the meaning of “<term refersTo="#term-contract-or-other-instrument-involving-financial-services">contract or other instrument involving financial services</term>” for the purposes of section A18.</p></content></subparagraph><subparagraph><num>(2)</num><content><p>Regulations under this paragraph are subject to the affirmative resolution procedure.</p></content></subparagraph></paragraph></hcontainer></hcontainer></quotedStructure></mod></p></content></hcontainer>
<hcontainer xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:default="http://www.w3.org/1999/xhtml" name="schedule" eId="schedule-3"><num>SCHEDULE 3<authorialNote class="referenceNote"><p>
Section 2</p></authorialNote></num><heading>Moratoriums in Great Britain: further amendments</heading><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-3-crossheading-insolvency-act-1986"><heading><i>Insolvency Act 1986</i></heading><paragraph eId="schedule-3-paragraph-1" class="schProv1"><num>1</num><content><p>The Insolvency Act 1986 is amended as follows.</p></content></paragraph><paragraph eId="schedule-3-paragraph-2" class="schProv1"><num>2</num><content><p>Omit section 1A (moratorium where directors propose voluntary arrangement).</p></content></paragraph><paragraph eId="schedule-3-paragraph-3" class="schProv1"><num>3</num><content><p>In section 2 (procedure where nominee is not the liquidator or administrator), in subsection (1), omit from “and the directors” to the end.</p></content></paragraph><paragraph eId="schedule-3-paragraph-4" class="schProv1"><num>4</num><subparagraph eId="schedule-3-paragraph-4-1"><num>(1)</num><content><p>Section 4 (decision of the company and its creditors in relation to voluntary arrangement) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-3-paragraph-4-2"><num>(2)</num><content><p><mod>After subsection (4) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="default"><subsection><num>(4A)</num><intro><p>Subject to subsection (4B), where the nominee's report under section 2(2) is submitted to the court before the end of the period of 12 weeks beginning with the day after the end of any moratorium for the company under Part A1, neither the company nor its creditors may approve any proposal or modification under which the following are to be paid otherwise than in full—</p></intro><level class="para1"><num>(a)</num><content><p>moratorium debts (within the meaning given by section 174A);</p></content></level><level class="para1"><num>(b)</num><content><p>priority pre-moratorium debts (within the meaning given by section 174A).</p></content></level></subsection><subsection><num>(4B)</num><content><p>Subsection (4A) does not prevent the approval of such a proposal or modification with the concurrence of the creditor concerned.</p></content></subsection></quotedStructure></mod></p></content></subparagraph></paragraph><paragraph eId="schedule-3-paragraph-5" class="schProv1"><num>5</num><subparagraph eId="schedule-3-paragraph-5-1"><num>(1)</num><content><p>Section 4A (approval of voluntary arrangement) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-3-paragraph-5-2"><num>(2)</num><content><p><mod>In subsection (2)(b), for “(4)” substitute <quotedText>“
(6)
”</quotedText>.</mod></p></content></subparagraph><subparagraph eId="schedule-3-paragraph-5-3"><num>(3)</num><content><p><mod>In subsection (5), for “within the meaning given by paragraph 44 of Schedule A1” substitute <quotedText>“
as defined by section A49(13)
”</quotedText>.</mod></p></content></subparagraph><subparagraph eId="schedule-3-paragraph-5-4"><num>(4)</num><content><p><mod>In subsection (5A), for “within the meaning of paragraph 44 of Schedule A1” substitute <quotedText>“
as defined by section A49(13)
”</quotedText>.</mod></p></content></subparagraph></paragraph><paragraph eId="schedule-3-paragraph-6" class="schProv1"><num>6</num><subparagraph eId="schedule-3-paragraph-6-1"><num>(1)</num><content><p>Section 5 (effect of approval of voluntary arrangement) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-3-paragraph-6-2"><num>(2)</num><content><p><mod>After subsection (3) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="default"><subsection><num>(3A)</num><content><p>Where immediately before the voluntary arrangement took effect a moratorium for the company was in force under Part A1 and a petition for the winding up of the company, other than an excepted petition within the meaning of section A20, was presented before the beginning of the moratorium, the court must dismiss the petition.</p></content></subsection></quotedStructure></mod></p></content></subparagraph><subparagraph eId="schedule-3-paragraph-6-3"><num>(3)</num><content><p><mod>In subsection (4) after “subsection (3)(a)” insert <quotedText>“
or dismiss a petition under subsection (3A)
”</quotedText>.</mod></p></content></subparagraph></paragraph><paragraph eId="schedule-3-paragraph-7" class="schProv1"><num>7</num><subparagraph eId="schedule-3-paragraph-7-1"><num>(1)</num><content><p>Section 7A (prosecution of delinquent officers of company) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-3-paragraph-7-2"><num>(2)</num><content><p><mod>For subsection (1) substitute—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="default"><subsection><num>(1)</num><content><p>This section applies where the approval of a voluntary arrangement in relation to a company has taken effect under section 4A.</p></content></subsection></quotedStructure></mod></p></content></subparagraph><subparagraph eId="schedule-3-paragraph-7-3"><num>(3)</num><intro><p>In subsection (2)—</p></intro><level class="para1" eId="schedule-3-paragraph-7-3-a"><num>(a)</num><content><p><mod>for the words before paragraph (a) substitute <quotedText>“
If it appears to the supervisor that any past or present officer of the company has committed an offence in connection with the voluntary arrangement, the supervisor must forthwith
”</quotedText>;</mod></p></content></level><level class="para1" eId="schedule-3-paragraph-7-3-b"><num>(b)</num><content><p>in paragraph (b), omit “nominee or”.</p></content></level></subparagraph><subparagraph eId="schedule-3-paragraph-7-4"><num>(4)</num><content><p>In subsection (8), omit “nominee or”.</p></content></subparagraph></paragraph><paragraph eId="schedule-3-paragraph-8" class="schProv1"><num>8</num><intro><p>In section 7B (arrangements coming to an end prematurely) omit—</p></intro><level class="para1" eId="schedule-3-paragraph-8-a"><num>(a)</num><content><p>“or paragraph 36 of Schedule A1”;</p></content></level><level class="para1" eId="schedule-3-paragraph-8-b"><num>(b)</num><content><p>“or, as the case may be, paragraph 37(2)(b)(i) of Schedule A1”.</p></content></level></paragraph><paragraph eId="schedule-3-paragraph-9" class="schProv1"><num>9</num><content><p><mod>In section 115 (expenses of voluntary winding up), at the beginning insert <quotedText>“
After the payment of any liabilities to which section 174A applies,
”</quotedText>.</mod></p></content></paragraph><paragraph eId="schedule-3-paragraph-10" class="schProv1"><num>10</num><content><p>In section 122 (circumstances in which company may be wound up by the court), in subsection (1), omit paragraph (fa).</p></content></paragraph><paragraph eId="schedule-3-paragraph-11" class="schProv1"><num>11</num><content><p>In section 124 (winding up by the court), omit subsection (3A).</p></content></paragraph><paragraph eId="schedule-3-paragraph-12" class="schProv1"><num>12</num><content><p><mod>In section 127 (avoidance of property dispositions etc), after subsection (2) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="default"><subsection><num>(3)</num><content><p>This section has no effect in respect of anything done during a moratorium under Part A1, or during a period mentioned in section 5(4)(a) following the end of a moratorium, where the winding-up order was made on a petition presented before the moratorium begins, unless the petition was presented under section 367 of the Financial Services and Markets Act 2000 on the ground mentioned in section 367(3)(b) of that Act.</p></content></subsection></quotedStructure></mod></p></content></paragraph><paragraph eId="schedule-3-paragraph-13" class="schProv1"><num>13</num><content><p><mod>Before section 175 (and before the italic heading “Preferential debts” above that section) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="unknown" uk:docName="unknown" ukl:TargetClass="unknown" ukl:TargetSubClass="unknown" ukl:Context="unknown" ukl:Format="default"><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Moratorium: order of priority of payment of debts</i></heading><section><num>174A</num><heading>Moratorium debts etc: priority</heading><subsection><num>(1)</num><content><p>This section applies where proceedings for the winding up of a company are begun before the end of the period of 12 weeks beginning with the day after the end of any moratorium for the company under Part A1.</p></content></subsection><subsection><num>(2)</num><intro><p>In the winding up, the following are payable out of the company's assets (in the order of priority shown) in preference to all other claims—</p></intro><level class="para1"><num>(a)</num><content><p>any prescribed fees or expenses of the official receiver acting in any capacity in relation to the company;</p></content></level><level class="para1"><num>(b)</num><content><p>moratorium debts and priority pre-moratorium debts.</p></content></level></subsection><subsection><num>(3)</num><intro><p>In subsection (2)(b) “<term refersTo="#term-priority-pre-moratorium-debt">priority pre-moratorium debt</term>” means—</p></intro><level class="para1"><num>(a)</num><intro><p>any pre-moratorium debt that is payable in respect of—</p></intro><level class="para2"><num>(i)</num><content><p>the monitor's remuneration or expenses,</p></content></level><level class="para2"><num>(ii)</num><content><p>goods or services supplied during the moratorium,</p></content></level><level class="para2"><num>(iii)</num><content><p>rent in respect of a period during the moratorium, or</p></content></level><level class="para2"><num>(iv)</num><content><p>wages or salary arising under a contract of employment, so far as relating to a period of employment before or during the moratorium,</p></content></level></level><level class="para1"><num>(b)</num><intro><p>any pre-moratorium debt that—</p></intro><level class="para2"><num>(i)</num><content><p>consists of a liability to make a redundancy payment, and</p></content></level><level class="para2"><num>(ii)</num><content><p>fell due before or during the moratorium, and</p></content></level></level><level class="para1"><num>(c)</num><intro><p>any pre-moratorium debt that—</p></intro><level class="para2"><num>(i)</num><content><p>arises under a contract or other instrument involving financial services,</p></content></level><level class="para2"><num>(ii)</num><content><p>fell due before or during the moratorium, and</p></content></level><level class="para2"><num>(iii)</num><content><p>is not relevant accelerated debt (see subsection (4)).</p></content></level></level></subsection><subsection><num>(4)</num><intro><p>For the purposes of subsection (3)(c)—</p></intro><hcontainer name="definition"><content><p>“<term refersTo="#term-relevant-accelerated-debt">relevant accelerated debt</term>” means any pre-moratorium debt that fell due during the relevant period by reason of the operation of, or the exercise of rights under, an acceleration or early termination clause in a contract or other instrument involving financial services;</p></content></hcontainer><hcontainer name="definition"><intro><p>“<term refersTo="#term-the-relevant-period">the relevant period</term>” means the period—</p></intro><level class="para1"><num>(a)</num><content><p>beginning with the day on which the statement under section A6(1)(e) is made, and</p></content></level><level class="para1"><num>(b)</num><content><p>ending with the last day of the moratorium.</p></content></level></hcontainer></subsection><subsection><num>(5)</num><content><p>The rules may make provision as to the order in which the debts mentioned in subsection (2)(b) rank among themselves in a case where the assets of the company are insufficient to meet them in full.</p></content></subsection><subsection><num>(6)</num><content><p>The Secretary of State may by regulations made by statutory instrument amend this section for the purposes of changing the definition of “moratorium debt” or “priority pre-moratorium debt” in this section.</p></content></subsection><subsection><num>(7)</num><content><p>Regulations under subsection (6) may make consequential, supplementary, incidental or transitional provision or savings.</p></content></subsection><subsection><num>(8)</num><content><p>A statutory instrument containing regulations under subsection (6) may not be made unless a draft of the instrument has been laid before and approved by a resolution of each House of Parliament.</p></content></subsection><subsection><num>(9)</num><intro><p>For the purposes of this section proceedings for the winding up of a company are begun when—</p></intro><level class="para1"><num>(a)</num><content><p>a winding-up petition is presented, or</p></content></level><level class="para1"><num>(b)</num><content><p>a resolution for voluntary winding up is passed.</p></content></level></subsection><subsection><num>(10)</num><content><p>Any rules made under section A18(4) (meaning of supply of goods or services) apply also for the purposes of subsection (3)(a)(ii) of this section.</p></content></subsection><subsection><num>(11)</num><intro><p>In this section—</p></intro><hcontainer name="definition"><intro><p>“<term refersTo="#term-acceleration-or-early-termination-clause">acceleration or early termination clause</term>”, in relation to a contract or other instrument involving financial services, means a provision of the contract or other instrument—</p></intro><level class="para1"><num>(a)</num><content><p>under which, on the happening of an event—</p><blockList class="ordered roman parens" ukl:Name="OrderedList" ukl:Type="roman" ukl:Decoration="parens"><item><num>(i)</num><p>a debt or other liability falls due earlier than it otherwise would, or</p></item><item><num>(ii)</num><p>a debt or other liability is terminated and replaced by another debt or liability, or</p></item></blockList></content></level><level class="para1"><num>(b)</num><content><p>which confers on a party a right which, if exercised, will result in —</p><blockList class="ordered roman parens" ukl:Name="OrderedList" ukl:Type="roman" ukl:Decoration="parens"><item><num>(i)</num><p>a debt or other liability falling due earlier than it otherwise would, or</p></item><item><num>(ii)</num><p>a debt or other liability being terminated and replaced by another debt or liability;</p></item></blockList></content></level></hcontainer><hcontainer name="definition"><content><p>“<term refersTo="#term-contract-or-other-instrument-involving-financial-services">contract or other instrument involving financial services</term>” has the same meaning as it has for the purposes of section A18 (see Schedule ZA2);</p></content></hcontainer><hcontainer name="definition"><content><p>“<term refersTo="#term-monitor's-remuneration-or-expenses">monitor's remuneration or expenses</term>” has the meaning given by section A18;</p></content></hcontainer><hcontainer name="definition"><content><p>“<term refersTo="#term-moratorium-debt">moratorium debt</term>” has the meaning given by section A53;</p></content></hcontainer><hcontainer name="definition"><content><p>“<term refersTo="#term-pre-moratorium-debt">pre-moratorium debt</term>” has the meaning given by section A53;</p></content></hcontainer><hcontainer name="definition"><content><p>“<term refersTo="#term-redundancy-payment">redundancy payment</term>” has the meaning given by section A18;</p></content></hcontainer><hcontainer name="definition"><content><p>“<term refersTo="#term-wages-or-salary">wages or salary</term>” has the meaning given by section A18.</p></content></hcontainer></subsection></section></hcontainer></quotedStructure></mod></p></content></paragraph><paragraph eId="schedule-3-paragraph-14" class="schProv1"><num>14</num><subparagraph eId="schedule-3-paragraph-14-1"><num>(1)</num><content><p>Section 175 (preferential debts: general provision) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-3-paragraph-14-2"><num>(2)</num><content><p><mod>In subsection (1), at the end insert<quotedText startQuote="“">after the payment of—
</quotedText><quotedStructure endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="default"><level class="para1"><num>(a)</num><content><p>any liabilities to which section 174A applies, and</p></content></level><level class="para1"><num>(b)</num><content><p>expenses of the winding up.</p></content></level></quotedStructure></mod></p></content></subparagraph><subparagraph eId="schedule-3-paragraph-14-3"><num>(3)</num><content><p>In subsection (1A), omit “after the expenses of the winding up”.</p></content></subparagraph></paragraph><paragraph eId="schedule-3-paragraph-15" class="schProv1"><num>15</num><subparagraph eId="schedule-3-paragraph-15-1"><num>(1)</num><content><p>Section 233 (supplies of gas, water, electricity etc) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-3-paragraph-15-2"><num>(2)</num><intro><p>In subsection (1)—</p></intro><level class="para1" eId="schedule-3-paragraph-15-2-a"><num>(a)</num><content><p>omit paragraph (ba);</p></content></level><level class="para1" eId="schedule-3-paragraph-15-2-b"><num>(b)</num><content><p>in the words after paragraph (e), omit “the nominee,”.</p></content></level></subparagraph><subparagraph eId="schedule-3-paragraph-15-3"><num>(3)</num><content><p>In subsection (4), omit paragraph (ba).</p></content></subparagraph></paragraph><paragraph eId="schedule-3-paragraph-16" class="schProv1"><num>16</num><intro><p>In section 246ZD (power to assign certain causes of action), in subsection (2)—</p></intro><level class="para1" eId="schedule-3-paragraph-16-a"><num>(a)</num><content><p><mod>after “under” insert <quotedText>“
or by virtue of
”</quotedText>;</mod></p></content></level><level class="para1" eId="schedule-3-paragraph-16-b"><num>(b)</num><content><p><mod>before paragraph (a) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="unknown" uk:docName="unknown" ukl:TargetClass="unknown" ukl:TargetSubClass="unknown" ukl:Context="unknown" ukl:Format="default"><level class="para1"><num>(za)</num><content><p>section A43 (challenges to monitor remuneration in subsequent insolvency proceedings);</p></content></level></quotedStructure><inline name="appendText">.</inline></mod></p></content></level></paragraph><paragraph eId="schedule-3-paragraph-17" class="schProv1"><num>17</num><content><p><mod>In section 246A (remote attendance at meetings), in subsection (10), before paragraph (a) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="default"><level class="para1"><num>(za)</num><content><p>the monitor in relation to a moratorium under Part A1,</p></content></level></quotedStructure><inline name="appendText">.</inline></mod></p></content></paragraph><paragraph eId="schedule-3-paragraph-18" class="schProv1"><num>18</num><content><p><mod>In section 246B (use of websites), in subsection (3), before paragraph (a) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="default"><level class="para1"><num>(za)</num><content><p>the monitor in relation to a moratorium under Part A1,</p></content></level></quotedStructure><inline name="appendText">.</inline></mod></p></content></paragraph><paragraph eId="schedule-3-paragraph-19" class="schProv1"><num>19</num><content><p><mod>In section 247 (meaning of “insolvency” etc), in subsection (1), after “includes” insert <quotedText>“
the coming into force of a moratorium for the company under Part A1,
”</quotedText>.</mod></p></content></paragraph><paragraph eId="schedule-3-paragraph-20" class="schProv1"><num>20</num><content><p>In section 387 (“<term refersTo="#term-the-relevant-date" eId="term-the-relevant-date">the relevant date</term>” in relation to preferential debts), omit subsection (2A).</p></content></paragraph><paragraph eId="schedule-3-paragraph-21" class="schProv1"><num>21</num><subparagraph eId="schedule-3-paragraph-21-1"><num>(1)</num><content><p>Section 388 (meaning of “act as insolvency practitioner”) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-3-paragraph-21-2"><num>(2)</num><content><p><mod>In subsection (1)(a), for “or administrative receiver” substitute <quotedText>“
, administrative receiver or monitor
”</quotedText>.</mod></p></content></subparagraph><subparagraph eId="schedule-3-paragraph-21-3"><num>(3)</num><content><p><mod>In subsection (4), at the appropriate place insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="default"><p>“<term refersTo="#term-monitor">monitor</term>” has the same meaning as in Part A1 (moratorium);</p></quotedStructure><inline name="appendText">.</inline></mod></p></content></subparagraph></paragraph><paragraph eId="schedule-3-paragraph-22" class="schProv1"><num>22</num><subparagraph eId="schedule-3-paragraph-22-1"><num>(1)</num><content><p>Section 411 (company insolvency rules) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-3-paragraph-22-2"><num>(2)</num><content><p><mod>In subsection (1), in the words after paragraph (b), for “Parts I” substitute <quotedText>“
Parts A1
”</quotedText>.</mod></p></content></subparagraph><subparagraph eId="schedule-3-paragraph-22-3"><num>(3)</num><content><p><mod>In subsection (3), for “Parts I” substitute <quotedText>“
Parts A1
”</quotedText>.</mod></p></content></subparagraph></paragraph><paragraph eId="schedule-3-paragraph-23" class="schProv1"><num>23</num><subparagraph eId="schedule-3-paragraph-23-1"><num>(1)</num><content><p>Section 414 (fees orders) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-3-paragraph-23-2"><num>(2)</num><content><p><mod>In subsection (1)(a), for “Parts I” substitute <quotedText>“
Parts A1
”</quotedText>.</mod></p></content></subparagraph><subparagraph eId="schedule-3-paragraph-23-3"><num>(3)</num><content><p><mod>In subsection (8), for “Parts I” substitute <quotedText>“
Parts A1
”</quotedText>.</mod></p></content></subparagraph></paragraph><paragraph eId="schedule-3-paragraph-24" class="schProv1"><num>24</num><content><p><mod>Before section 416 (monetary limits (companies winding up)) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="unknown" uk:docName="unknown" ukl:TargetClass="unknown" ukl:TargetSubClass="unknown" ukl:Context="unknown" ukl:Format="default"><section><num>415B</num><heading>Monetary limits (company moratorium)</heading><subsection><num>(1)</num><intro><p>The Secretary of State may by regulations increase or reduce any of the money sums for the time being specified in the following provisions of Part A1—</p></intro><level class="para1"><num>(a)</num><content><p>section A25(1) (maximum amount of credit which company may obtain without disclosing moratorium);</p></content></level><level class="para1"><num>(b)</num><content><p>section A28(2) (maximum amount for certain payments without obtaining monitor consent etc);</p></content></level><level class="para1"><num>(c)</num><content><p>section A46(2) (minimum value of company property concealed or fraudulently removed, affecting criminal liability of company's officer).</p></content></level></subsection><subsection><num>(2)</num><content><p>Regulations under this section may contain such transitional provisions as may appear to the Secretary of State necessary or expedient.</p></content></subsection><subsection><num>(3)</num><content><p>Regulations under this section are to be made by statutory instrument subject to annulment in pursuance of a resolution of either House of Parliament.</p></content></subsection></section></quotedStructure></mod></p></content></paragraph><paragraph eId="schedule-3-paragraph-25" class="schProv1"><num>25</num><content><p>Omit section 417A (money sums: company moratorium).</p></content></paragraph><paragraph eId="schedule-3-paragraph-26" class="schProv1"><num>26</num><content><p><mod>In section 430 (provision introducing Schedule of punishments), after subsection (4) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="default"><subsection><num>(4A)</num><content><p>In relation to an offence committed before section 154(1) of the Criminal Justice Act 2003 comes into force, a reference in Schedule 10 to 12 months on summary conviction in England and Wales is to be read as a reference to 6 months.</p></content></subsection></quotedStructure></mod></p></content></paragraph><paragraph eId="schedule-3-paragraph-27" class="schProv1"><num>27</num><content><p><mod>In section 431 (summary proceedings), in subsection (1), for “Parts I” substitute <quotedText>“
Parts A1
”</quotedText>.</mod></p></content></paragraph><paragraph eId="schedule-3-paragraph-28" class="schProv1"><num>28</num><intro><p>In section 432 (offences by bodies corporate), in subsection (4)—</p></intro><level class="para1" eId="schedule-3-paragraph-28-a"><num>(a)</num><content><p><mod>after “sections” insert <quotedText>“
A19(5), A25(3), A26(4), A27(1), A28(5), A29(6), A30(2), A31(10), A32(4),
”</quotedText>;</mod></p></content></level><level class="para1" eId="schedule-3-paragraph-28-b"><num>(b)</num><content><p>omit from “and those under” to the end.</p></content></level></paragraph><paragraph eId="schedule-3-paragraph-29" class="schProv1"><num>29</num><content><p><mod>In section 434 (Crown application), after “Insolvency Act 1985” insert <quotedText>“
and Part A1
”</quotedText>.</mod></p></content></paragraph><paragraph eId="schedule-3-paragraph-30" class="schProv1"><num>30</num><content><p>Omit Schedule A1 (moratorium where directors propose voluntary arrangement).</p></content></paragraph><paragraph eId="schedule-3-paragraph-31" class="schProv1"><num>31</num><subparagraph eId="schedule-3-paragraph-31-1"><num>(1)</num><content><p>Schedule B1 (administration) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-3-paragraph-31-2"><num>(2)</num><content><p>Omit paragraph 24.</p></content></subparagraph><subparagraph eId="schedule-3-paragraph-31-3"><num>(3)</num><content><p><mod>Before paragraph 65 (but after the italic heading “Distribution”) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="unknown" uk:docName="unknown" ukl:TargetClass="unknown" ukl:TargetSubClass="unknown" ukl:Context="unknown" ukl:Format="default"><section><num>64A</num><subsection><num>(1)</num><content><p>This paragraph applies where a company enters administration before the end of the period of 12 weeks beginning with the day after the end of any moratorium for the company under Part A1.</p></content></subsection><subsection><num>(2)</num><intro><p>The administrator must make a distribution to the creditors of the company in respect of—</p></intro><level class="para1"><num>(a)</num><content><p>moratorium debts (within the meaning given by section 174A), and</p></content></level><level class="para1"><num>(b)</num><content><p>priority pre-moratorium debts (within the meaning given by section 174A).</p></content></level></subsection><subsection><num>(3)</num><intro><p>A sum payable under sub-paragraph (2) is to be paid in priority to—</p></intro><level class="para1"><num>(a)</num><content><p>any security to which paragraph 70 applies or paragraph 115(1) applies;</p></content></level><level class="para1"><num>(b)</num><content><p>any sums payable under paragraph 99.</p></content></level></subsection><subsection><num>(4)</num><content><p>The administrator must realise any property necessary to comply with sub-paragraph (2).</p></content></subsection><subsection><num>(5)</num><content><p>The rules may make provision as to the order in which the moratorium and priority pre-moratorium debts rank among themselves for the purposes of this paragraph in a case where the assets of the company are insufficient to meet them in full.</p></content></subsection></section></quotedStructure></mod></p></content></subparagraph><subparagraph eId="schedule-3-paragraph-31-4"><num>(4)</num><content><p><mod>In paragraph 65, for sub-paragraph (1) substitute—<quotedStructure startQuote="“" endQuote="”" uk:context="unknown" uk:docName="unknown" ukl:TargetClass="unknown" ukl:TargetSubClass="unknown" ukl:Context="unknown" ukl:Format="default"><subsection><num>(1)</num><content><p>If the assets of a company are sufficient to meet any debts or other liabilities payable under paragraph 64A in full, the administrator of the company may make a distribution to any other creditor of the company.</p></content></subsection></quotedStructure></mod></p></content></subparagraph><subparagraph eId="schedule-3-paragraph-31-5"><num>(5)</num><content><p><mod>In paragraph 66, for “The administrator of a company” substitute <quotedText>“
If the debts and other liabilities payable under paragraph 64A have been met, the administrator of a company
”</quotedText>.</mod></p></content></subparagraph></paragraph><paragraph eId="schedule-3-paragraph-32" class="schProv1"><num>32</num><subparagraph eId="schedule-3-paragraph-32-1"><num>(1)</num><content><p>Schedule 8 (provision capable of inclusion in company insolvency rules) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-3-paragraph-32-2"><num>(2)</num><content><p><mod>In paragraph 2, for “Parts I” substitute <quotedText>“
Parts A1
”</quotedText>.</mod></p></content></subparagraph><subparagraph eId="schedule-3-paragraph-32-3"><num>(3)</num><content><p><mod>In paragraph 8, after “is,” insert <quotedText>“
the monitor in relation to a moratorium under Part A1 or
”</quotedText>.</mod></p></content></subparagraph></paragraph><paragraph eId="schedule-3-paragraph-33" class="schProv1"><num>33</num><subparagraph eId="schedule-3-paragraph-33-1"><num>(1)</num><content><p>Schedule 10 (punishment of offences under the Act) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-3-paragraph-33-2"><num>(2)</num><content><p>Omit the entries relating to Schedule A1.</p></content></subparagraph><subparagraph eId="schedule-3-paragraph-33-3"><num>(3)</num><content><p><mod>At the appropriate place insert—<quotedStructure startQuote="“" endQuote="”" uk:context="unknown" uk:docName="unknown" ukl:TargetClass="unknown" ukl:TargetSubClass="unknown" ukl:Context="unknown" ukl:Format="default"><tblock class="table" ukl:Orientation="portrait"><foreign><default:table xmlns="http://www.w3.org/1999/xhtml"><default:colgroup><default:col style="width:25%"/><default:col style="width:35%"/><default:col style="width:20%"/><default:col style="width:20%"/></default:colgroup><default:tbody><default:tr><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A8(4)</p></default:td><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Directors failing to notify monitor of beginning of moratorium.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2 years or a fine or both.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">On conviction in England and Wales: 12 months or a fine or both. On conviction in Scotland: 12 months or the statutory maximum or both.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A8(5)</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Monitor failing to notify creditors etc of beginning of moratorium.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Level 3 on the standard scale.</p></default:td></default:tr><default:tr><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A17(6)</p></default:td><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Directors failing to notify monitor of change in end of moratorium.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2 years or a fine or both.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">On conviction in England and Wales: 12 months or a fine or both. On conviction in Scotland: 12 months or the statutory maximum or both.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A17(7)</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Monitor failing to notify creditors etc of change in end of moratorium.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Level 3 on the standard scale.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A19(5)</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Company or officer failing to state in correspondence etc that moratorium in force.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Level 3 on the standard scale.</p></default:td></default:tr><default:tr><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A24(4)</p></default:td><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Directors failing to notify monitor of insolvency proceedings etc.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2 years or a fine or both.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">On conviction in England and Wales: 12 months or a fine or both. On conviction in Scotland: 12 months or the statutory maximum or both.</p></default:td></default:tr><default:tr><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A25(3)(a)</p></default:td><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Company obtaining credit without disclosing existence of moratorium.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A fine.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">On conviction in England and Wales: a fine. On conviction in Scotland: the statutory maximum.</p></default:td></default:tr><default:tr><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A25(3)(b)</p></default:td><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Obtaining credit for company without disclosing existence of moratorium.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2 years or a fine or both.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">On conviction in England and Wales: 12 months or a fine or both. On conviction in Scotland: 12 months or the statutory maximum or both.</p></default:td></default:tr><default:tr><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A26(4)(a)</p></default:td><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Company granting security without monitor's consent.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A fine.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">On conviction in England and Wales: a fine. On conviction in Scotland: the statutory maximum.</p></default:td></default:tr><default:tr><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A26(4)(b)</p></default:td><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Authorising or permitting company to do so.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2 years or a fine or both.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">On conviction in England and Wales: 12 months or a fine or both. On conviction in Scotland: 12 months or the statutory maximum or both.</p></default:td></default:tr><default:tr><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A27(1)(a)</p></default:td><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Company entering into market contract, etc.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A fine.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">On conviction in England and Wales: a fine. On conviction in Scotland: the statutory maximum.</p></default:td></default:tr><default:tr><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A27(1)(b)</p></default:td><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Authorising or permitting company to do so.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2 years or a fine or both.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">On conviction in England and Wales: 12 months or a fine or both. On conviction in Scotland: 12 months or the statutory maximum or both.</p></default:td></default:tr><default:tr><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A28(5)(a)</p></default:td><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Company making unauthorised payments.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A fine.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">On conviction in England and Wales: a fine. On conviction in Scotland: the statutory maximum.</p></default:td></default:tr><default:tr><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A28(5)(b)</p></default:td><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Authorising or permitting company to do so.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2 years or a fine or both.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">On conviction in England and Wales: 12 months or a fine or both. On conviction in Scotland: 12 months or the statutory maximum or both.</p></default:td></default:tr><default:tr><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A29(6)(a)</p></default:td><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Company making unauthorised disposal of property.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A fine.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">On conviction in England and Wales: a fine. On conviction in Scotland: the statutory maximum.</p></default:td></default:tr><default:tr><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A29(6)(b)</p></default:td><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Authorising or permitting such a disposal.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2 years or a fine or both.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">On conviction in England and Wales: 12 months or a fine or both. On conviction in Scotland: 12 months or the statutory maximum or both.</p></default:td></default:tr><default:tr><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A30(2)(a)</p></default:td><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Unauthorised disposal of hire-purchase property.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A fine.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">On conviction in England and Wales: a fine. On conviction in Scotland: the statutory maximum.</p></default:td></default:tr><default:tr><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A30(2)(b)</p></default:td><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Authorising or permitting such a disposal.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2 years or a fine or both.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">On conviction in England and Wales: 12 months or a fine or both. On conviction in Scotland: 12 months or the statutory maximum or both.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A31(8)</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Directors failing to send to registrar copy of court order permitting disposal of charged property.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Level 3 on the standard scale.</p></default:td></default:tr><default:tr><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A31(10)(a)</p></default:td><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Company failing to comply with requirements relating to disposal of charged property.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A fine.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">On conviction in England and Wales: a fine. On conviction in Scotland: the statutory maximum.</p></default:td></default:tr><default:tr><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A31(10)(b)</p></default:td><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Authorising or permitting such a failure.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2 years or a fine or both.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">On conviction in England and Wales: 12 months or a fine or both. On conviction in Scotland: 12 months or the statutory maximum or both.</p></default:td></default:tr><default:tr><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A32(4)(a)</p></default:td><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Company failing to comply with requirements relating to disposal of hire-purchase property.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A fine.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">On conviction in England and Wales: a fine. On conviction in Scotland: the statutory maximum.</p></default:td></default:tr><default:tr><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A32(4)(b)</p></default:td><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Authorising or permitting such a failure.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2 years or a fine or both.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">On conviction in England and Wales: 12 months or a fine or both. On conviction in Scotland: 12 months or the statutory maximum or both.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A32(6)</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Directors failing to send to registrar copy of court order permitting disposal of hire-purchase property.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Level 3 on the standard scale.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A39(9)</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Monitor failing to notify creditors etc of change in monitor.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Level 3 on the standard scale.</p></default:td></default:tr><default:tr><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A46(1)</p></default:td><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Fraud or privity to fraud during or in anticipation of moratorium.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2 years or a fine or both.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">On conviction in England and Wales: 12 months or a fine or both. On conviction in Scotland: 12 months or the statutory maximum or both.</p></default:td></default:tr><default:tr><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A46(4)</p></default:td><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Knowingly taking in pawn or pledge, or otherwise receiving, company property.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2 years or a fine or both.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">On conviction in England and Wales: 12 months or a fine or both. On conviction in Scotland: 12 months or the statutory maximum or both.</p></default:td></default:tr><default:tr><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A47(1)</p></default:td><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">False representation or fraud for purpose of obtaining or extending moratorium.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2 years or a fine or both.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">On conviction in England and Wales: 12 months or a fine or both. On conviction in Scotland: 12 months or the statutory maximum or both.</p></default:td></default:tr><default:tr><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A49(5)</p></default:td><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Directors failing to notify regulator of qualifying decision procedure in relation to regulated company</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2 years or a fine or both.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">On conviction in England and Wales: 12 months or a fine or both. On conviction in Scotland: 12 months or the statutory maximum or both.</p></default:td></default:tr></default:tbody></default:table></foreign></tblock></quotedStructure></mod></p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-3-crossheading-building-societies-act-1986"><heading><i>Building Societies Act 1986</i></heading><paragraph eId="schedule-3-paragraph-34" class="schProv1"><num>34</num><content><p>In Schedule 15A to the Building Societies Act 1986 (application of other companies insolvency legislation to building societies), in paragraph 1(2)(a), omit “(except section 1A)”.</p></content></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-3-crossheading-the-financial-markets-and-insolvency-settlement-finality-regulations-1999"><heading><i>The Financial Markets and Insolvency (Settlement Finality) Regulations 1999</i></heading><paragraph eId="schedule-3-paragraph-35" class="schProv1"><num>35</num><content><p>In regulation 19 of the Financial Markets and Insolvency (Settlement Finality) Regulations 1999 (S.I. 1999/2979) (administration orders, etc), omit paragraph (4).</p></content></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-3-crossheading-limited-liability-partnerships-act-2000"><heading><i>Limited Liability Partnerships Act 2000</i></heading><paragraph eId="schedule-3-paragraph-36" class="schProv1"><num>36</num><content><p><mod>In section 14 of the Limited Liability Partnerships Act 2000 (regulations to make provision about insolvency and winding up), in subsection (1)(a), for “Parts 1” substitute <quotedText>“
Parts A1
”</quotedText>.</mod></p></content></paragraph><paragraph eId="schedule-3-paragraph-37" class="schProv1"><num>37</num><content><p>The provision that may be made under section 16(1) of the Limited Liability Partnerships Act 2000 (consequential amendments) includes provision in consequence of the amendment made by paragraph 38.</p></content></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-3-crossheading-the-limited-liability-partnerships-regulations-2001"><heading><i>The Limited Liability Partnerships Regulations 2001</i></heading><paragraph eId="schedule-3-paragraph-38" class="schProv1"><num>38</num><content><p><mod>In the Limited Liability Partnerships Regulations 2001 (S.I. 2001/1090), in Part 4 (winding up and insolvency), in regulation 5 (application of the Insolvency Act 1986 to limited liability partnerships), in paragraph (1)(a) after “Parts” insert <quotedText>“
A1,
”</quotedText>.</mod></p></content></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-3-crossheading-the-financial-services-and-markets-act-2000-disclosure-of-confidential-information-regulations-2001"><heading><i>The Financial Services and Markets Act 2000 (Disclosure of Confidential Information) Regulations 2001</i></heading><paragraph eId="schedule-3-paragraph-39" class="schProv1"><num>39</num><content><p><mod>In Schedule 2 to the Financial Services and Markets Act 2000 (Disclosure of Confidential Information) Regulations 2001 (S.I. 2001/2188) (disclosure of confidential information), at the end of the table insert—<quotedStructure startQuote="“" endQuote="”" uk:context="schedule" uk:docName="unknown" ukl:TargetClass="unknown" ukl:TargetSubClass="unknown" ukl:Context="schedule" ukl:Format="default"><tblock class="table" ukl:Orientation="portrait"><foreign><default:table xmlns="http://www.w3.org/1999/xhtml"><default:colgroup><default:col style="width:54%"/><default:col style="width:46%"/></default:colgroup><default:tbody><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">The monitor in relation to a moratorium under Part A1 of the Insolvency Act 1986</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">The monitor's functions in relation to the moratorium</p></default:td></default:tr></default:tbody></default:table></foreign></tblock></quotedStructure><inline name="appendText">.</inline></mod></p></content></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-3-crossheading-the-financial-collateral-arrangements-no2-regulations-2003"><heading><i>The Financial Collateral Arrangements (No.2) Regulations 2003</i></heading><paragraph eId="schedule-3-paragraph-40" class="schProv1"><num>40</num><content><p>In regulation 8 of the Financial Collateral Arrangements (No.2) Regulations 2003 (S.I. 2003/3226) (certain legislation restricting enforcement of security not to apply to financial collateral arrangements), omit paragraph (5).</p></content></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-3-crossheading-the-insolvency-practitioners-regulations-2005"><heading><i>The Insolvency Practitioners Regulations 2005</i></heading><paragraph eId="schedule-3-paragraph-41" class="schProv1"><num>41</num><content><p><mod>In regulation 2 of the Insolvency Practitioners Regulations 2005 (S.I. 2005/524) (interpretation: general), in paragraph (2), before sub-paragraph (a) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="regulation" ukl:Context="main" ukl:Format="default"><level class="para1"><num>(za)</num><intro><p>where the insolvency practitioner acts as the monitor in relation to a moratorium under Part A1 of the Act, whichever is the earlier of the date on which—</p></intro><level class="para2"><num>(i)</num><content><p>the moratorium comes to an end, or</p></content></level><level class="para2"><num>(ii)</num><content><p>the insolvency practitioner otherwise ceases to act as the monitor in relation to the moratorium;</p></content></level></level></quotedStructure><inline name="appendText">.</inline></mod></p></content></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-3-crossheading-banking-act-2009"><heading><i>Banking Act 2009</i></heading><paragraph eId="schedule-3-paragraph-42" class="schProv1"><num>42</num><intro><p>In section 154 of the Banking Act 2009 (winding-up or voluntary arrangement), in subsection (3A)—</p></intro><level class="para1" eId="schedule-3-paragraph-42-a"><num>(a)</num><content><p>omit “and Schedule A1”;</p></content></level><level class="para1" eId="schedule-3-paragraph-42-b"><num>(b)</num><content><p><mod>for “9” substitute <quotedText>“
8
”</quotedText>.</mod></p></content></level></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-3-crossheading-charities-act-2011"><heading><i>Charities Act 2011</i></heading><paragraph eId="schedule-3-paragraph-43" class="schProv1"><num>43</num><content><p>The Charities Act 2011 is amended as follows.</p></content></paragraph><paragraph eId="schedule-3-paragraph-44" class="schProv1"><num>44</num><subparagraph eId="schedule-3-paragraph-44-1"><num>(1)</num><content><p>Section 245 is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-3-paragraph-44-2"><num>(2)</num><content><p><mod>After subsection (1), insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="default"><subsection><num>(1A)</num><content><p>Regulations under subsection (1)(b) may not apply Part A1 of the Insolvency Act 1986 (moratorium) in relation to a CIO that is registered as a social landlord under Part 1 of the Housing Act 1996 (but see section 247A).</p></content></subsection></quotedStructure></mod></p></content></subparagraph><subparagraph eId="schedule-3-paragraph-44-3"><num>(3)</num><content><p><mod>After subsection (3), insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="default"><subsection><num>(3A)</num><content><p>In relation to a CIO that is a private registered provider of social housing, the power under section 347(3)(b) may be used to amend, disapply, or modify (in ways specified in the regulations) any provision made by or under Part 2 of the Housing and Regeneration Act 2008 or Chapter 5 of Part 4 of the Housing and Planning Act 2016.</p></content></subsection></quotedStructure></mod></p></content></subparagraph></paragraph><paragraph eId="schedule-3-paragraph-45" class="schProv1"><num>45</num><content><p><mod>After section 247 insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="default"><section><num>247A</num><heading>Regulations about moratorium for certain CIOs</heading><subsection><num>(1)</num><content><p>The Welsh Ministers may by regulations made by statutory instrument provide for Part A1 of the Insolvency Act 1986 to apply (with such modifications as may be specified in the regulations) in relation to a CIO that is a registered social landlord.</p></content></subsection><subsection><num>(2)</num><content><p>The regulations may make provision in connection with the interaction between Part A1 of the Insolvency Act 1986 as applied by the regulations and any other insolvency procedure in relation to a CIO that is a registered social landlord.</p></content></subsection><subsection><num>(3)</num><intro><p>The regulations may make—</p></intro><level class="para1"><num>(a)</num><content><p>different provision for different purposes, and</p></content></level><level class="para1"><num>(b)</num><content><p>such supplemental, incidental, consequential, transitory or transitional provision or savings as the Welsh Ministers consider appropriate.</p></content></level></subsection><subsection><num>(4)</num><content><p>The power to make regulations under this section includes power to amend, disapply, or modify (in ways specified in the regulations) any provision made by legislation.</p></content></subsection><subsection><num>(5)</num><content><p>A statutory instrument containing the regulations may not be made unless a draft of the statutory instrument containing them has been laid before and approved by a resolution of Senedd Cymru.</p></content></subsection><subsection><num>(6)</num><content><p>Before making any regulations under this section the Welsh Ministers must consult such persons or bodies of persons as the Welsh Ministers consider appropriate.</p></content></subsection><subsection><num>(7)</num><intro><p>In this section—</p></intro><hcontainer name="definition"><content><p>“<term refersTo="#term-insolvency-procedure">insolvency procedure</term>” includes the provision made by sections 39 to 50 of the Housing Act 1996;</p></content></hcontainer><hcontainer name="definition"><intro><p>“<term refersTo="#term-legislation">legislation</term>” means—</p></intro><level class="para1"><num>(a)</num><content><p>an Act of Parliament or an Act or Measure of Senedd Cymru; or</p></content></level><level class="para1"><num>(b)</num><content><p>subordinate legislation (within the meaning of the Interpretation Act 1978) made under such an Act or Measure;</p></content></level></hcontainer><hcontainer name="definition"><content><p>“<term refersTo="#term-registered-social-landlord">registered social landlord</term>” means registered as a social landlord under Part 1 of the Housing Act 1996.</p></content></hcontainer></subsection></section></quotedStructure></mod></p></content></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-3-crossheading-the-investment-bank-special-administration-regulations-2011"><heading><i>The Investment Bank Special Administration Regulations 2011</i></heading><paragraph eId="schedule-3-paragraph-46" class="schProv1"><num>46</num><content><p>The Investment Bank Special Administration Regulations 2011 (S.I. 2011/245) are amended as follows.</p></content></paragraph><paragraph eId="schedule-3-paragraph-47" class="schProv1"><num>47</num><intro><p>In regulation 21 (dissolution or voluntary arrangement), in paragraph (5A)—</p></intro><level class="para1" eId="schedule-3-paragraph-47-a"><num>(a)</num><content><p>omit “and Schedule A1”;</p></content></level><level class="para1" eId="schedule-3-paragraph-47-b"><num>(b)</num><content><p><mod>for the first “9” substitute <quotedText>“
8
”</quotedText>.</mod></p></content></level></paragraph><paragraph eId="schedule-3-paragraph-48" class="schProv1"><num>48</num><intro><p>In Schedule 2 (bank administration), in paragraph 16(3)(ba)—</p></intro><level class="para1" eId="schedule-3-paragraph-48-a"><num>(a)</num><content><p>omit “and Schedule A1”;</p></content></level><level class="para1" eId="schedule-3-paragraph-48-b"><num>(b)</num><content><p><mod>for the first “9” substitute <quotedText>“
8
”</quotedText>.</mod></p></content></level></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-3-crossheading-the-charitable-incorporated-organisations-insolvency-and-dissolution-regulations-2012"><heading><i>The Charitable Incorporated Organisations (Insolvency and Dissolution) Regulations 2012</i></heading><paragraph eId="schedule-3-paragraph-49" class="schProv1"><num>49</num><subparagraph eId="schedule-3-paragraph-49-1"><num>(1)</num><content><p>Paragraph 1 of Schedule 1 to the Charitable Incorporated Organisations (Insolvency and Dissolution) Regulations 2012 (S.I 2012/3013) (application of the Insolvency Act 1986) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-3-paragraph-49-2"><num>(2)</num><content><p><mod>In sub-paragraph (1), at the beginning insert <quotedText>“
Subject to sub-paragraph (2A)
”</quotedText>.</mod></p></content></subparagraph><subparagraph eId="schedule-3-paragraph-49-3"><num>(3)</num><content><p><mod>In sub-paragraph (2)(a), for “Parts 1” substitute <quotedText>“
Parts A1
”</quotedText>.</mod></p></content></subparagraph><subparagraph eId="schedule-3-paragraph-49-4"><num>(4)</num><content><p><mod>After sub-paragraph (2), insert—<quotedStructure startQuote="“" endQuote="”" uk:context="unknown" uk:docName="unknown" ukl:TargetClass="unknown" ukl:TargetSubClass="unknown" ukl:Context="unknown" ukl:Format="default"><subsection><num>(2A)</num><intro><p>Part A1 of the 1986 Act does not apply in relation to a CIO that is—</p></intro><level class="para1"><num>(a)</num><content><p>a private registered provider of social housing;</p></content></level><level class="para1"><num>(b)</num><content><p>registered as a social landlord under Part 1 of the Housing Act 1996.</p></content></level></subsection></quotedStructure></mod></p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-3-crossheading-cooperative-and-community-benefit-societies-act-2014"><heading><i>Co-operative and Community Benefit Societies Act 2014</i></heading><paragraph eId="schedule-3-paragraph-50" class="schProv1"><num>50</num><content><p>The Co-operative and Community Benefit Societies Act 2014 is amended as follows.</p></content></paragraph><paragraph eId="schedule-3-paragraph-51" class="schProv1"><num>51</num><content><p>In section 106 (appointment of inspectors and calling of special meetings), omit subsection (2).</p></content></paragraph><paragraph eId="schedule-3-paragraph-52" class="schProv1"><num>52</num><subparagraph eId="schedule-3-paragraph-52-1"><num>(1)</num><content><p>Section 118 (power to apply provisions about company arrangements and administration) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-3-paragraph-52-2"><num>(2)</num><content><p><mod>At the end of the heading insert <quotedText>“
etc
”</quotedText>.</mod></p></content></subparagraph><subparagraph eId="schedule-3-paragraph-52-3"><num>(3)</num><content><p><mod>In subsection (1), after “by order” insert<quotedText startQuote="“">—
</quotedText><quotedStructure endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="default"><level class="para1"><num>(a)</num><content><p>provide for Part A1 of the Insolvency Act 1986 (moratorium) to apply (with or without modifications) in relation to registered societies;</p></content></level><level class="para1"><num>(b)</num><content><p/></content></level></quotedStructure><inline name="appendText">.</inline></mod></p></content></subparagraph><subparagraph eId="schedule-3-paragraph-52-4"><num>(4)</num><content><p><mod>After subsection (3), insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="default"><subsection><num>(3A)</num><content><p>The order may not make any provision that could be made under subsection (3B) or (3C).</p></content></subsection><subsection><num>(3B)</num><content><p>The Welsh Ministers may by regulations made by statutory instrument make provision under the law of England and Wales for Part A1 of the Insolvency Act 1986 to apply (with or without modifications) in relation to a society that is registered as a social landlord under Part 1 of the Housing Act 1996.</p></content></subsection><subsection><num>(3C)</num><content><p>The Scottish Ministers may by regulations make provision under the law of Scotland for Part A1 of the Insolvency Act 1986 to apply (with or without modifications) in relation to a society that is registered as a social landlord under Part 2 of the Housing (Scotland) Act 2010 (asp 17).</p></content></subsection></quotedStructure></mod></p></content></subparagraph><subparagraph eId="schedule-3-paragraph-52-5"><num>(5)</num><content><p><mod>In subsection (4), for “The order” substitute <quotedText>“
An order or regulations under this section
”</quotedText>.</mod></p></content></subparagraph><subparagraph eId="schedule-3-paragraph-52-6"><num>(6)</num><content><p><mod>After subsection (5) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="default"><subsection><num>(5A)</num><content><p>A statutory instrument containing regulations under subsection (3B) is subject to annulment in pursuance of a resolution of Senedd Cymru.</p></content></subsection><subsection><num>(5B)</num><content><p>Regulations made by the Scottish Ministers under subsection (3C) are subject to the negative procedure (see section 28 of the Interpretation and Legislative Reform (Scotland) Act 2010 (asp 10)).</p></content></subsection></quotedStructure></mod></p></content></subparagraph></paragraph><paragraph eId="schedule-3-paragraph-53" class="schProv1"><num>53</num><content><p><mod>In section 147 (regulations and orders), in subsection (3), for “97 or 118” substitute <quotedText>“
or 97, or an order under section 118,
”</quotedText>.</mod></p></content></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-3-crossheading-the-cooperative-and-community-benefit-societies-and-credit-unions-arrangements-reconstructions-and-administration-order-2014-si-2014229"><heading><i>The Co-operative and Community Benefit Societies and Credit Unions (Arrangements, Reconstructions and Administration) Order 2014 (S.I. 2014/229)</i></heading><paragraph eId="schedule-3-paragraph-54" class="schProv1"><num><noteRef href="#key-4be2b1127392dad6fa9bf11d61a95cfa" uk:name="commentary" ukl:Name="CommentaryRef" class="commentary"/>54</num><content><p>. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .</p></content></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-3-crossheading-the-international-interests-in-aircraft-equipment-cape-town-convention-regulations-2015"><heading><i>The International Interests in Aircraft Equipment (Cape Town Convention) Regulations 2015</i></heading><paragraph eId="schedule-3-paragraph-55" class="schProv1"><num>55</num><subparagraph eId="schedule-3-paragraph-55-1"><num>(1)</num><content><p>Regulation 37 of the International Interests in Aircraft Equipment (Cape Town Convention) Regulations 2015 (S.I. 2015/912) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-3-paragraph-55-2"><num>(2)</num><content><p><mod>After paragraph (3) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="unknown" uk:docName="unknown" ukl:TargetClass="unknown" ukl:TargetSubClass="unknown" ukl:Context="unknown" ukl:Format="default"><subsection><num>(3A)</num><content><p>Where the insolvency-related event is the coming into force of a moratorium for a company under Part A1 of the Insolvency Act 1986, references in this regulation to the “insolvency office holder” are to the company.</p></content></subsection></quotedStructure></mod></p></content></subparagraph><subparagraph eId="schedule-3-paragraph-55-3"><num>(3)</num><intro><p>In paragraph (12)—</p></intro><level class="para1" eId="schedule-3-paragraph-55-3-a"><num>(a)</num><content><p>in sub-paragraph (a) omit “Part 1 of the Insolvency Act 1986 (in the case of company voluntary arrangements) and”;</p></content></level><level class="para1" eId="schedule-3-paragraph-55-3-b"><num>(b)</num><content><p>omit sub-paragraph (i).</p></content></level></subparagraph><subparagraph eId="schedule-3-paragraph-55-4"><num>(4)</num><content><p><mod>After paragraph (12) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="unknown" uk:docName="unknown" ukl:TargetClass="unknown" ukl:TargetSubClass="unknown" ukl:Context="unknown" ukl:Format="default"><subsection><num>(12A)</num><intro><p>Where this regulation applies by virtue of a moratorium for a company coming into force under Part A1 of the Insolvency Act 1986—</p></intro><level class="para1"><num>(a)</num><content><p>the provisions of this regulation are in addition to the provisions of Part A1 of that Act;</p></content></level><level class="para1"><num>(b)</num><content><p>the notices under section A8 of that Act must include a statement that this regulation applies, together with a statement of the effect of the application of this regulation;</p></content></level><level class="para1"><num>(c)</num><content><p>section A21 of that Act (restrictions on enforcement) does not apply in relation to the aircraft object after the end of the waiting period under this regulation;</p></content></level><level class="para1"><num>(d)</num><content><p>sections A29 to A32 of that Act (provisions about disposal of property) do not apply to the aircraft object;</p></content></level><level class="para1"><num>(e)</num><content><p>the end of the waiting period under this regulation is without prejudice to the application of the provisions of Part A1 of that Act in respect of assets to which these Regulations do not apply.</p></content></level></subsection></quotedStructure></mod></p></content></subparagraph></paragraph></hcontainer></hcontainer>
<hcontainer xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:default="http://www.w3.org/1999/xhtml" name="crossheading" ukl:Name="Pblock" eId="schedule-3-crossheading-insolvency-act-1986"><heading><i>Insolvency Act 1986</i></heading><paragraph eId="schedule-3-paragraph-1" class="schProv1"><num>1</num><content><p>The Insolvency Act 1986 is amended as follows.</p></content></paragraph><paragraph eId="schedule-3-paragraph-2" class="schProv1"><num>2</num><content><p>Omit section 1A (moratorium where directors propose voluntary arrangement).</p></content></paragraph><paragraph eId="schedule-3-paragraph-3" class="schProv1"><num>3</num><content><p>In section 2 (procedure where nominee is not the liquidator or administrator), in subsection (1), omit from “and the directors” to the end.</p></content></paragraph><paragraph eId="schedule-3-paragraph-4" class="schProv1"><num>4</num><subparagraph eId="schedule-3-paragraph-4-1"><num>(1)</num><content><p>Section 4 (decision of the company and its creditors in relation to voluntary arrangement) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-3-paragraph-4-2"><num>(2)</num><content><p><mod>After subsection (4) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="default"><subsection><num>(4A)</num><intro><p>Subject to subsection (4B), where the nominee's report under section 2(2) is submitted to the court before the end of the period of 12 weeks beginning with the day after the end of any moratorium for the company under Part A1, neither the company nor its creditors may approve any proposal or modification under which the following are to be paid otherwise than in full—</p></intro><level class="para1"><num>(a)</num><content><p>moratorium debts (within the meaning given by section 174A);</p></content></level><level class="para1"><num>(b)</num><content><p>priority pre-moratorium debts (within the meaning given by section 174A).</p></content></level></subsection><subsection><num>(4B)</num><content><p>Subsection (4A) does not prevent the approval of such a proposal or modification with the concurrence of the creditor concerned.</p></content></subsection></quotedStructure></mod></p></content></subparagraph></paragraph><paragraph eId="schedule-3-paragraph-5" class="schProv1"><num>5</num><subparagraph eId="schedule-3-paragraph-5-1"><num>(1)</num><content><p>Section 4A (approval of voluntary arrangement) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-3-paragraph-5-2"><num>(2)</num><content><p><mod>In subsection (2)(b), for “(4)” substitute <quotedText>“
(6)
”</quotedText>.</mod></p></content></subparagraph><subparagraph eId="schedule-3-paragraph-5-3"><num>(3)</num><content><p><mod>In subsection (5), for “within the meaning given by paragraph 44 of Schedule A1” substitute <quotedText>“
as defined by section A49(13)
”</quotedText>.</mod></p></content></subparagraph><subparagraph eId="schedule-3-paragraph-5-4"><num>(4)</num><content><p><mod>In subsection (5A), for “within the meaning of paragraph 44 of Schedule A1” substitute <quotedText>“
as defined by section A49(13)
”</quotedText>.</mod></p></content></subparagraph></paragraph><paragraph eId="schedule-3-paragraph-6" class="schProv1"><num>6</num><subparagraph eId="schedule-3-paragraph-6-1"><num>(1)</num><content><p>Section 5 (effect of approval of voluntary arrangement) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-3-paragraph-6-2"><num>(2)</num><content><p><mod>After subsection (3) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="default"><subsection><num>(3A)</num><content><p>Where immediately before the voluntary arrangement took effect a moratorium for the company was in force under Part A1 and a petition for the winding up of the company, other than an excepted petition within the meaning of section A20, was presented before the beginning of the moratorium, the court must dismiss the petition.</p></content></subsection></quotedStructure></mod></p></content></subparagraph><subparagraph eId="schedule-3-paragraph-6-3"><num>(3)</num><content><p><mod>In subsection (4) after “subsection (3)(a)” insert <quotedText>“
or dismiss a petition under subsection (3A)
”</quotedText>.</mod></p></content></subparagraph></paragraph><paragraph eId="schedule-3-paragraph-7" class="schProv1"><num>7</num><subparagraph eId="schedule-3-paragraph-7-1"><num>(1)</num><content><p>Section 7A (prosecution of delinquent officers of company) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-3-paragraph-7-2"><num>(2)</num><content><p><mod>For subsection (1) substitute—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="default"><subsection><num>(1)</num><content><p>This section applies where the approval of a voluntary arrangement in relation to a company has taken effect under section 4A.</p></content></subsection></quotedStructure></mod></p></content></subparagraph><subparagraph eId="schedule-3-paragraph-7-3"><num>(3)</num><intro><p>In subsection (2)—</p></intro><level class="para1" eId="schedule-3-paragraph-7-3-a"><num>(a)</num><content><p><mod>for the words before paragraph (a) substitute <quotedText>“
If it appears to the supervisor that any past or present officer of the company has committed an offence in connection with the voluntary arrangement, the supervisor must forthwith
”</quotedText>;</mod></p></content></level><level class="para1" eId="schedule-3-paragraph-7-3-b"><num>(b)</num><content><p>in paragraph (b), omit “nominee or”.</p></content></level></subparagraph><subparagraph eId="schedule-3-paragraph-7-4"><num>(4)</num><content><p>In subsection (8), omit “nominee or”.</p></content></subparagraph></paragraph><paragraph eId="schedule-3-paragraph-8" class="schProv1"><num>8</num><intro><p>In section 7B (arrangements coming to an end prematurely) omit—</p></intro><level class="para1" eId="schedule-3-paragraph-8-a"><num>(a)</num><content><p>“or paragraph 36 of Schedule A1”;</p></content></level><level class="para1" eId="schedule-3-paragraph-8-b"><num>(b)</num><content><p>“or, as the case may be, paragraph 37(2)(b)(i) of Schedule A1”.</p></content></level></paragraph><paragraph eId="schedule-3-paragraph-9" class="schProv1"><num>9</num><content><p><mod>In section 115 (expenses of voluntary winding up), at the beginning insert <quotedText>“
After the payment of any liabilities to which section 174A applies,
”</quotedText>.</mod></p></content></paragraph><paragraph eId="schedule-3-paragraph-10" class="schProv1"><num>10</num><content><p>In section 122 (circumstances in which company may be wound up by the court), in subsection (1), omit paragraph (fa).</p></content></paragraph><paragraph eId="schedule-3-paragraph-11" class="schProv1"><num>11</num><content><p>In section 124 (winding up by the court), omit subsection (3A).</p></content></paragraph><paragraph eId="schedule-3-paragraph-12" class="schProv1"><num>12</num><content><p><mod>In section 127 (avoidance of property dispositions etc), after subsection (2) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="default"><subsection><num>(3)</num><content><p>This section has no effect in respect of anything done during a moratorium under Part A1, or during a period mentioned in section 5(4)(a) following the end of a moratorium, where the winding-up order was made on a petition presented before the moratorium begins, unless the petition was presented under section 367 of the Financial Services and Markets Act 2000 on the ground mentioned in section 367(3)(b) of that Act.</p></content></subsection></quotedStructure></mod></p></content></paragraph><paragraph eId="schedule-3-paragraph-13" class="schProv1"><num>13</num><content><p><mod>Before section 175 (and before the italic heading “Preferential debts” above that section) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="unknown" uk:docName="unknown" ukl:TargetClass="unknown" ukl:TargetSubClass="unknown" ukl:Context="unknown" ukl:Format="default"><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Moratorium: order of priority of payment of debts</i></heading><section><num>174A</num><heading>Moratorium debts etc: priority</heading><subsection><num>(1)</num><content><p>This section applies where proceedings for the winding up of a company are begun before the end of the period of 12 weeks beginning with the day after the end of any moratorium for the company under Part A1.</p></content></subsection><subsection><num>(2)</num><intro><p>In the winding up, the following are payable out of the company's assets (in the order of priority shown) in preference to all other claims—</p></intro><level class="para1"><num>(a)</num><content><p>any prescribed fees or expenses of the official receiver acting in any capacity in relation to the company;</p></content></level><level class="para1"><num>(b)</num><content><p>moratorium debts and priority pre-moratorium debts.</p></content></level></subsection><subsection><num>(3)</num><intro><p>In subsection (2)(b) “<term refersTo="#term-priority-pre-moratorium-debt">priority pre-moratorium debt</term>” means—</p></intro><level class="para1"><num>(a)</num><intro><p>any pre-moratorium debt that is payable in respect of—</p></intro><level class="para2"><num>(i)</num><content><p>the monitor's remuneration or expenses,</p></content></level><level class="para2"><num>(ii)</num><content><p>goods or services supplied during the moratorium,</p></content></level><level class="para2"><num>(iii)</num><content><p>rent in respect of a period during the moratorium, or</p></content></level><level class="para2"><num>(iv)</num><content><p>wages or salary arising under a contract of employment, so far as relating to a period of employment before or during the moratorium,</p></content></level></level><level class="para1"><num>(b)</num><intro><p>any pre-moratorium debt that—</p></intro><level class="para2"><num>(i)</num><content><p>consists of a liability to make a redundancy payment, and</p></content></level><level class="para2"><num>(ii)</num><content><p>fell due before or during the moratorium, and</p></content></level></level><level class="para1"><num>(c)</num><intro><p>any pre-moratorium debt that—</p></intro><level class="para2"><num>(i)</num><content><p>arises under a contract or other instrument involving financial services,</p></content></level><level class="para2"><num>(ii)</num><content><p>fell due before or during the moratorium, and</p></content></level><level class="para2"><num>(iii)</num><content><p>is not relevant accelerated debt (see subsection (4)).</p></content></level></level></subsection><subsection><num>(4)</num><intro><p>For the purposes of subsection (3)(c)—</p></intro><hcontainer name="definition"><content><p>“<term refersTo="#term-relevant-accelerated-debt">relevant accelerated debt</term>” means any pre-moratorium debt that fell due during the relevant period by reason of the operation of, or the exercise of rights under, an acceleration or early termination clause in a contract or other instrument involving financial services;</p></content></hcontainer><hcontainer name="definition"><intro><p>“<term refersTo="#term-the-relevant-period">the relevant period</term>” means the period—</p></intro><level class="para1"><num>(a)</num><content><p>beginning with the day on which the statement under section A6(1)(e) is made, and</p></content></level><level class="para1"><num>(b)</num><content><p>ending with the last day of the moratorium.</p></content></level></hcontainer></subsection><subsection><num>(5)</num><content><p>The rules may make provision as to the order in which the debts mentioned in subsection (2)(b) rank among themselves in a case where the assets of the company are insufficient to meet them in full.</p></content></subsection><subsection><num>(6)</num><content><p>The Secretary of State may by regulations made by statutory instrument amend this section for the purposes of changing the definition of “moratorium debt” or “priority pre-moratorium debt” in this section.</p></content></subsection><subsection><num>(7)</num><content><p>Regulations under subsection (6) may make consequential, supplementary, incidental or transitional provision or savings.</p></content></subsection><subsection><num>(8)</num><content><p>A statutory instrument containing regulations under subsection (6) may not be made unless a draft of the instrument has been laid before and approved by a resolution of each House of Parliament.</p></content></subsection><subsection><num>(9)</num><intro><p>For the purposes of this section proceedings for the winding up of a company are begun when—</p></intro><level class="para1"><num>(a)</num><content><p>a winding-up petition is presented, or</p></content></level><level class="para1"><num>(b)</num><content><p>a resolution for voluntary winding up is passed.</p></content></level></subsection><subsection><num>(10)</num><content><p>Any rules made under section A18(4) (meaning of supply of goods or services) apply also for the purposes of subsection (3)(a)(ii) of this section.</p></content></subsection><subsection><num>(11)</num><intro><p>In this section—</p></intro><hcontainer name="definition"><intro><p>“<term refersTo="#term-acceleration-or-early-termination-clause">acceleration or early termination clause</term>”, in relation to a contract or other instrument involving financial services, means a provision of the contract or other instrument—</p></intro><level class="para1"><num>(a)</num><content><p>under which, on the happening of an event—</p><blockList class="ordered roman parens" ukl:Name="OrderedList" ukl:Type="roman" ukl:Decoration="parens"><item><num>(i)</num><p>a debt or other liability falls due earlier than it otherwise would, or</p></item><item><num>(ii)</num><p>a debt or other liability is terminated and replaced by another debt or liability, or</p></item></blockList></content></level><level class="para1"><num>(b)</num><content><p>which confers on a party a right which, if exercised, will result in —</p><blockList class="ordered roman parens" ukl:Name="OrderedList" ukl:Type="roman" ukl:Decoration="parens"><item><num>(i)</num><p>a debt or other liability falling due earlier than it otherwise would, or</p></item><item><num>(ii)</num><p>a debt or other liability being terminated and replaced by another debt or liability;</p></item></blockList></content></level></hcontainer><hcontainer name="definition"><content><p>“<term refersTo="#term-contract-or-other-instrument-involving-financial-services">contract or other instrument involving financial services</term>” has the same meaning as it has for the purposes of section A18 (see Schedule ZA2);</p></content></hcontainer><hcontainer name="definition"><content><p>“<term refersTo="#term-monitor's-remuneration-or-expenses">monitor's remuneration or expenses</term>” has the meaning given by section A18;</p></content></hcontainer><hcontainer name="definition"><content><p>“<term refersTo="#term-moratorium-debt">moratorium debt</term>” has the meaning given by section A53;</p></content></hcontainer><hcontainer name="definition"><content><p>“<term refersTo="#term-pre-moratorium-debt">pre-moratorium debt</term>” has the meaning given by section A53;</p></content></hcontainer><hcontainer name="definition"><content><p>“<term refersTo="#term-redundancy-payment">redundancy payment</term>” has the meaning given by section A18;</p></content></hcontainer><hcontainer name="definition"><content><p>“<term refersTo="#term-wages-or-salary">wages or salary</term>” has the meaning given by section A18.</p></content></hcontainer></subsection></section></hcontainer></quotedStructure></mod></p></content></paragraph><paragraph eId="schedule-3-paragraph-14" class="schProv1"><num>14</num><subparagraph eId="schedule-3-paragraph-14-1"><num>(1)</num><content><p>Section 175 (preferential debts: general provision) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-3-paragraph-14-2"><num>(2)</num><content><p><mod>In subsection (1), at the end insert<quotedText startQuote="“">after the payment of—
</quotedText><quotedStructure endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="default"><level class="para1"><num>(a)</num><content><p>any liabilities to which section 174A applies, and</p></content></level><level class="para1"><num>(b)</num><content><p>expenses of the winding up.</p></content></level></quotedStructure></mod></p></content></subparagraph><subparagraph eId="schedule-3-paragraph-14-3"><num>(3)</num><content><p>In subsection (1A), omit “after the expenses of the winding up”.</p></content></subparagraph></paragraph><paragraph eId="schedule-3-paragraph-15" class="schProv1"><num>15</num><subparagraph eId="schedule-3-paragraph-15-1"><num>(1)</num><content><p>Section 233 (supplies of gas, water, electricity etc) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-3-paragraph-15-2"><num>(2)</num><intro><p>In subsection (1)—</p></intro><level class="para1" eId="schedule-3-paragraph-15-2-a"><num>(a)</num><content><p>omit paragraph (ba);</p></content></level><level class="para1" eId="schedule-3-paragraph-15-2-b"><num>(b)</num><content><p>in the words after paragraph (e), omit “the nominee,”.</p></content></level></subparagraph><subparagraph eId="schedule-3-paragraph-15-3"><num>(3)</num><content><p>In subsection (4), omit paragraph (ba).</p></content></subparagraph></paragraph><paragraph eId="schedule-3-paragraph-16" class="schProv1"><num>16</num><intro><p>In section 246ZD (power to assign certain causes of action), in subsection (2)—</p></intro><level class="para1" eId="schedule-3-paragraph-16-a"><num>(a)</num><content><p><mod>after “under” insert <quotedText>“
or by virtue of
”</quotedText>;</mod></p></content></level><level class="para1" eId="schedule-3-paragraph-16-b"><num>(b)</num><content><p><mod>before paragraph (a) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="unknown" uk:docName="unknown" ukl:TargetClass="unknown" ukl:TargetSubClass="unknown" ukl:Context="unknown" ukl:Format="default"><level class="para1"><num>(za)</num><content><p>section A43 (challenges to monitor remuneration in subsequent insolvency proceedings);</p></content></level></quotedStructure><inline name="appendText">.</inline></mod></p></content></level></paragraph><paragraph eId="schedule-3-paragraph-17" class="schProv1"><num>17</num><content><p><mod>In section 246A (remote attendance at meetings), in subsection (10), before paragraph (a) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="default"><level class="para1"><num>(za)</num><content><p>the monitor in relation to a moratorium under Part A1,</p></content></level></quotedStructure><inline name="appendText">.</inline></mod></p></content></paragraph><paragraph eId="schedule-3-paragraph-18" class="schProv1"><num>18</num><content><p><mod>In section 246B (use of websites), in subsection (3), before paragraph (a) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="default"><level class="para1"><num>(za)</num><content><p>the monitor in relation to a moratorium under Part A1,</p></content></level></quotedStructure><inline name="appendText">.</inline></mod></p></content></paragraph><paragraph eId="schedule-3-paragraph-19" class="schProv1"><num>19</num><content><p><mod>In section 247 (meaning of “insolvency” etc), in subsection (1), after “includes” insert <quotedText>“
the coming into force of a moratorium for the company under Part A1,
”</quotedText>.</mod></p></content></paragraph><paragraph eId="schedule-3-paragraph-20" class="schProv1"><num>20</num><content><p>In section 387 (“<term refersTo="#term-the-relevant-date" eId="term-the-relevant-date">the relevant date</term>” in relation to preferential debts), omit subsection (2A).</p></content></paragraph><paragraph eId="schedule-3-paragraph-21" class="schProv1"><num>21</num><subparagraph eId="schedule-3-paragraph-21-1"><num>(1)</num><content><p>Section 388 (meaning of “act as insolvency practitioner”) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-3-paragraph-21-2"><num>(2)</num><content><p><mod>In subsection (1)(a), for “or administrative receiver” substitute <quotedText>“
, administrative receiver or monitor
”</quotedText>.</mod></p></content></subparagraph><subparagraph eId="schedule-3-paragraph-21-3"><num>(3)</num><content><p><mod>In subsection (4), at the appropriate place insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="default"><p>“<term refersTo="#term-monitor">monitor</term>” has the same meaning as in Part A1 (moratorium);</p></quotedStructure><inline name="appendText">.</inline></mod></p></content></subparagraph></paragraph><paragraph eId="schedule-3-paragraph-22" class="schProv1"><num>22</num><subparagraph eId="schedule-3-paragraph-22-1"><num>(1)</num><content><p>Section 411 (company insolvency rules) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-3-paragraph-22-2"><num>(2)</num><content><p><mod>In subsection (1), in the words after paragraph (b), for “Parts I” substitute <quotedText>“
Parts A1
”</quotedText>.</mod></p></content></subparagraph><subparagraph eId="schedule-3-paragraph-22-3"><num>(3)</num><content><p><mod>In subsection (3), for “Parts I” substitute <quotedText>“
Parts A1
”</quotedText>.</mod></p></content></subparagraph></paragraph><paragraph eId="schedule-3-paragraph-23" class="schProv1"><num>23</num><subparagraph eId="schedule-3-paragraph-23-1"><num>(1)</num><content><p>Section 414 (fees orders) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-3-paragraph-23-2"><num>(2)</num><content><p><mod>In subsection (1)(a), for “Parts I” substitute <quotedText>“
Parts A1
”</quotedText>.</mod></p></content></subparagraph><subparagraph eId="schedule-3-paragraph-23-3"><num>(3)</num><content><p><mod>In subsection (8), for “Parts I” substitute <quotedText>“
Parts A1
”</quotedText>.</mod></p></content></subparagraph></paragraph><paragraph eId="schedule-3-paragraph-24" class="schProv1"><num>24</num><content><p><mod>Before section 416 (monetary limits (companies winding up)) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="unknown" uk:docName="unknown" ukl:TargetClass="unknown" ukl:TargetSubClass="unknown" ukl:Context="unknown" ukl:Format="default"><section><num>415B</num><heading>Monetary limits (company moratorium)</heading><subsection><num>(1)</num><intro><p>The Secretary of State may by regulations increase or reduce any of the money sums for the time being specified in the following provisions of Part A1—</p></intro><level class="para1"><num>(a)</num><content><p>section A25(1) (maximum amount of credit which company may obtain without disclosing moratorium);</p></content></level><level class="para1"><num>(b)</num><content><p>section A28(2) (maximum amount for certain payments without obtaining monitor consent etc);</p></content></level><level class="para1"><num>(c)</num><content><p>section A46(2) (minimum value of company property concealed or fraudulently removed, affecting criminal liability of company's officer).</p></content></level></subsection><subsection><num>(2)</num><content><p>Regulations under this section may contain such transitional provisions as may appear to the Secretary of State necessary or expedient.</p></content></subsection><subsection><num>(3)</num><content><p>Regulations under this section are to be made by statutory instrument subject to annulment in pursuance of a resolution of either House of Parliament.</p></content></subsection></section></quotedStructure></mod></p></content></paragraph><paragraph eId="schedule-3-paragraph-25" class="schProv1"><num>25</num><content><p>Omit section 417A (money sums: company moratorium).</p></content></paragraph><paragraph eId="schedule-3-paragraph-26" class="schProv1"><num>26</num><content><p><mod>In section 430 (provision introducing Schedule of punishments), after subsection (4) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="default"><subsection><num>(4A)</num><content><p>In relation to an offence committed before section 154(1) of the Criminal Justice Act 2003 comes into force, a reference in Schedule 10 to 12 months on summary conviction in England and Wales is to be read as a reference to 6 months.</p></content></subsection></quotedStructure></mod></p></content></paragraph><paragraph eId="schedule-3-paragraph-27" class="schProv1"><num>27</num><content><p><mod>In section 431 (summary proceedings), in subsection (1), for “Parts I” substitute <quotedText>“
Parts A1
”</quotedText>.</mod></p></content></paragraph><paragraph eId="schedule-3-paragraph-28" class="schProv1"><num>28</num><intro><p>In section 432 (offences by bodies corporate), in subsection (4)—</p></intro><level class="para1" eId="schedule-3-paragraph-28-a"><num>(a)</num><content><p><mod>after “sections” insert <quotedText>“
A19(5), A25(3), A26(4), A27(1), A28(5), A29(6), A30(2), A31(10), A32(4),
”</quotedText>;</mod></p></content></level><level class="para1" eId="schedule-3-paragraph-28-b"><num>(b)</num><content><p>omit from “and those under” to the end.</p></content></level></paragraph><paragraph eId="schedule-3-paragraph-29" class="schProv1"><num>29</num><content><p><mod>In section 434 (Crown application), after “Insolvency Act 1985” insert <quotedText>“
and Part A1
”</quotedText>.</mod></p></content></paragraph><paragraph eId="schedule-3-paragraph-30" class="schProv1"><num>30</num><content><p>Omit Schedule A1 (moratorium where directors propose voluntary arrangement).</p></content></paragraph><paragraph eId="schedule-3-paragraph-31" class="schProv1"><num>31</num><subparagraph eId="schedule-3-paragraph-31-1"><num>(1)</num><content><p>Schedule B1 (administration) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-3-paragraph-31-2"><num>(2)</num><content><p>Omit paragraph 24.</p></content></subparagraph><subparagraph eId="schedule-3-paragraph-31-3"><num>(3)</num><content><p><mod>Before paragraph 65 (but after the italic heading “Distribution”) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="unknown" uk:docName="unknown" ukl:TargetClass="unknown" ukl:TargetSubClass="unknown" ukl:Context="unknown" ukl:Format="default"><section><num>64A</num><subsection><num>(1)</num><content><p>This paragraph applies where a company enters administration before the end of the period of 12 weeks beginning with the day after the end of any moratorium for the company under Part A1.</p></content></subsection><subsection><num>(2)</num><intro><p>The administrator must make a distribution to the creditors of the company in respect of—</p></intro><level class="para1"><num>(a)</num><content><p>moratorium debts (within the meaning given by section 174A), and</p></content></level><level class="para1"><num>(b)</num><content><p>priority pre-moratorium debts (within the meaning given by section 174A).</p></content></level></subsection><subsection><num>(3)</num><intro><p>A sum payable under sub-paragraph (2) is to be paid in priority to—</p></intro><level class="para1"><num>(a)</num><content><p>any security to which paragraph 70 applies or paragraph 115(1) applies;</p></content></level><level class="para1"><num>(b)</num><content><p>any sums payable under paragraph 99.</p></content></level></subsection><subsection><num>(4)</num><content><p>The administrator must realise any property necessary to comply with sub-paragraph (2).</p></content></subsection><subsection><num>(5)</num><content><p>The rules may make provision as to the order in which the moratorium and priority pre-moratorium debts rank among themselves for the purposes of this paragraph in a case where the assets of the company are insufficient to meet them in full.</p></content></subsection></section></quotedStructure></mod></p></content></subparagraph><subparagraph eId="schedule-3-paragraph-31-4"><num>(4)</num><content><p><mod>In paragraph 65, for sub-paragraph (1) substitute—<quotedStructure startQuote="“" endQuote="”" uk:context="unknown" uk:docName="unknown" ukl:TargetClass="unknown" ukl:TargetSubClass="unknown" ukl:Context="unknown" ukl:Format="default"><subsection><num>(1)</num><content><p>If the assets of a company are sufficient to meet any debts or other liabilities payable under paragraph 64A in full, the administrator of the company may make a distribution to any other creditor of the company.</p></content></subsection></quotedStructure></mod></p></content></subparagraph><subparagraph eId="schedule-3-paragraph-31-5"><num>(5)</num><content><p><mod>In paragraph 66, for “The administrator of a company” substitute <quotedText>“
If the debts and other liabilities payable under paragraph 64A have been met, the administrator of a company
”</quotedText>.</mod></p></content></subparagraph></paragraph><paragraph eId="schedule-3-paragraph-32" class="schProv1"><num>32</num><subparagraph eId="schedule-3-paragraph-32-1"><num>(1)</num><content><p>Schedule 8 (provision capable of inclusion in company insolvency rules) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-3-paragraph-32-2"><num>(2)</num><content><p><mod>In paragraph 2, for “Parts I” substitute <quotedText>“
Parts A1
”</quotedText>.</mod></p></content></subparagraph><subparagraph eId="schedule-3-paragraph-32-3"><num>(3)</num><content><p><mod>In paragraph 8, after “is,” insert <quotedText>“
the monitor in relation to a moratorium under Part A1 or
”</quotedText>.</mod></p></content></subparagraph></paragraph><paragraph eId="schedule-3-paragraph-33" class="schProv1"><num>33</num><subparagraph eId="schedule-3-paragraph-33-1"><num>(1)</num><content><p>Schedule 10 (punishment of offences under the Act) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-3-paragraph-33-2"><num>(2)</num><content><p>Omit the entries relating to Schedule A1.</p></content></subparagraph><subparagraph eId="schedule-3-paragraph-33-3"><num>(3)</num><content><p><mod>At the appropriate place insert—<quotedStructure startQuote="“" endQuote="”" uk:context="unknown" uk:docName="unknown" ukl:TargetClass="unknown" ukl:TargetSubClass="unknown" ukl:Context="unknown" ukl:Format="default"><tblock class="table" ukl:Orientation="portrait"><foreign><default:table xmlns="http://www.w3.org/1999/xhtml"><default:colgroup><default:col style="width:25%"/><default:col style="width:35%"/><default:col style="width:20%"/><default:col style="width:20%"/></default:colgroup><default:tbody><default:tr><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A8(4)</p></default:td><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Directors failing to notify monitor of beginning of moratorium.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2 years or a fine or both.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">On conviction in England and Wales: 12 months or a fine or both. On conviction in Scotland: 12 months or the statutory maximum or both.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A8(5)</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Monitor failing to notify creditors etc of beginning of moratorium.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Level 3 on the standard scale.</p></default:td></default:tr><default:tr><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A17(6)</p></default:td><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Directors failing to notify monitor of change in end of moratorium.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2 years or a fine or both.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">On conviction in England and Wales: 12 months or a fine or both. On conviction in Scotland: 12 months or the statutory maximum or both.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A17(7)</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Monitor failing to notify creditors etc of change in end of moratorium.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Level 3 on the standard scale.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A19(5)</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Company or officer failing to state in correspondence etc that moratorium in force.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Level 3 on the standard scale.</p></default:td></default:tr><default:tr><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A24(4)</p></default:td><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Directors failing to notify monitor of insolvency proceedings etc.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2 years or a fine or both.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">On conviction in England and Wales: 12 months or a fine or both. On conviction in Scotland: 12 months or the statutory maximum or both.</p></default:td></default:tr><default:tr><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A25(3)(a)</p></default:td><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Company obtaining credit without disclosing existence of moratorium.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A fine.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">On conviction in England and Wales: a fine. On conviction in Scotland: the statutory maximum.</p></default:td></default:tr><default:tr><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A25(3)(b)</p></default:td><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Obtaining credit for company without disclosing existence of moratorium.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2 years or a fine or both.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">On conviction in England and Wales: 12 months or a fine or both. On conviction in Scotland: 12 months or the statutory maximum or both.</p></default:td></default:tr><default:tr><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A26(4)(a)</p></default:td><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Company granting security without monitor's consent.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A fine.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">On conviction in England and Wales: a fine. On conviction in Scotland: the statutory maximum.</p></default:td></default:tr><default:tr><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A26(4)(b)</p></default:td><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Authorising or permitting company to do so.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2 years or a fine or both.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">On conviction in England and Wales: 12 months or a fine or both. On conviction in Scotland: 12 months or the statutory maximum or both.</p></default:td></default:tr><default:tr><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A27(1)(a)</p></default:td><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Company entering into market contract, etc.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A fine.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">On conviction in England and Wales: a fine. On conviction in Scotland: the statutory maximum.</p></default:td></default:tr><default:tr><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A27(1)(b)</p></default:td><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Authorising or permitting company to do so.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2 years or a fine or both.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">On conviction in England and Wales: 12 months or a fine or both. On conviction in Scotland: 12 months or the statutory maximum or both.</p></default:td></default:tr><default:tr><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A28(5)(a)</p></default:td><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Company making unauthorised payments.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A fine.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">On conviction in England and Wales: a fine. On conviction in Scotland: the statutory maximum.</p></default:td></default:tr><default:tr><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A28(5)(b)</p></default:td><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Authorising or permitting company to do so.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2 years or a fine or both.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">On conviction in England and Wales: 12 months or a fine or both. On conviction in Scotland: 12 months or the statutory maximum or both.</p></default:td></default:tr><default:tr><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A29(6)(a)</p></default:td><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Company making unauthorised disposal of property.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A fine.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">On conviction in England and Wales: a fine. On conviction in Scotland: the statutory maximum.</p></default:td></default:tr><default:tr><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A29(6)(b)</p></default:td><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Authorising or permitting such a disposal.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2 years or a fine or both.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">On conviction in England and Wales: 12 months or a fine or both. On conviction in Scotland: 12 months or the statutory maximum or both.</p></default:td></default:tr><default:tr><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A30(2)(a)</p></default:td><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Unauthorised disposal of hire-purchase property.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A fine.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">On conviction in England and Wales: a fine. On conviction in Scotland: the statutory maximum.</p></default:td></default:tr><default:tr><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A30(2)(b)</p></default:td><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Authorising or permitting such a disposal.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2 years or a fine or both.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">On conviction in England and Wales: 12 months or a fine or both. On conviction in Scotland: 12 months or the statutory maximum or both.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A31(8)</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Directors failing to send to registrar copy of court order permitting disposal of charged property.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Level 3 on the standard scale.</p></default:td></default:tr><default:tr><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A31(10)(a)</p></default:td><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Company failing to comply with requirements relating to disposal of charged property.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A fine.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">On conviction in England and Wales: a fine. On conviction in Scotland: the statutory maximum.</p></default:td></default:tr><default:tr><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A31(10)(b)</p></default:td><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Authorising or permitting such a failure.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2 years or a fine or both.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">On conviction in England and Wales: 12 months or a fine or both. On conviction in Scotland: 12 months or the statutory maximum or both.</p></default:td></default:tr><default:tr><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A32(4)(a)</p></default:td><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Company failing to comply with requirements relating to disposal of hire-purchase property.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A fine.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">On conviction in England and Wales: a fine. On conviction in Scotland: the statutory maximum.</p></default:td></default:tr><default:tr><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A32(4)(b)</p></default:td><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Authorising or permitting such a failure.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2 years or a fine or both.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">On conviction in England and Wales: 12 months or a fine or both. On conviction in Scotland: 12 months or the statutory maximum or both.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A32(6)</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Directors failing to send to registrar copy of court order permitting disposal of hire-purchase property.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Level 3 on the standard scale.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A39(9)</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Monitor failing to notify creditors etc of change in monitor.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Level 3 on the standard scale.</p></default:td></default:tr><default:tr><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A46(1)</p></default:td><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Fraud or privity to fraud during or in anticipation of moratorium.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2 years or a fine or both.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">On conviction in England and Wales: 12 months or a fine or both. On conviction in Scotland: 12 months or the statutory maximum or both.</p></default:td></default:tr><default:tr><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A46(4)</p></default:td><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Knowingly taking in pawn or pledge, or otherwise receiving, company property.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2 years or a fine or both.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">On conviction in England and Wales: 12 months or a fine or both. On conviction in Scotland: 12 months or the statutory maximum or both.</p></default:td></default:tr><default:tr><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A47(1)</p></default:td><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">False representation or fraud for purpose of obtaining or extending moratorium.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2 years or a fine or both.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">On conviction in England and Wales: 12 months or a fine or both. On conviction in Scotland: 12 months or the statutory maximum or both.</p></default:td></default:tr><default:tr><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A49(5)</p></default:td><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Directors failing to notify regulator of qualifying decision procedure in relation to regulated company</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2 years or a fine or both.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">On conviction in England and Wales: 12 months or a fine or both. On conviction in Scotland: 12 months or the statutory maximum or both.</p></default:td></default:tr></default:tbody></default:table></foreign></tblock></quotedStructure></mod></p></content></subparagraph></paragraph></hcontainer>
<hcontainer xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" name="crossheading" ukl:Name="Pblock" eId="schedule-3-crossheading-building-societies-act-1986"><heading><i>Building Societies Act 1986</i></heading><paragraph eId="schedule-3-paragraph-34" class="schProv1"><num>34</num><content><p>In Schedule 15A to the Building Societies Act 1986 (application of other companies insolvency legislation to building societies), in paragraph 1(2)(a), omit “(except section 1A)”.</p></content></paragraph></hcontainer>
<hcontainer xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" name="crossheading" ukl:Name="Pblock" eId="schedule-3-crossheading-the-financial-markets-and-insolvency-settlement-finality-regulations-1999"><heading><i>The Financial Markets and Insolvency (Settlement Finality) Regulations 1999</i></heading><paragraph eId="schedule-3-paragraph-35" class="schProv1"><num>35</num><content><p>In regulation 19 of the Financial Markets and Insolvency (Settlement Finality) Regulations 1999 (S.I. 1999/2979) (administration orders, etc), omit paragraph (4).</p></content></paragraph></hcontainer>
<hcontainer xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" name="crossheading" ukl:Name="Pblock" eId="schedule-3-crossheading-limited-liability-partnerships-act-2000"><heading><i>Limited Liability Partnerships Act 2000</i></heading><paragraph eId="schedule-3-paragraph-36" class="schProv1"><num>36</num><content><p><mod>In section 14 of the Limited Liability Partnerships Act 2000 (regulations to make provision about insolvency and winding up), in subsection (1)(a), for “Parts 1” substitute <quotedText>“
Parts A1
”</quotedText>.</mod></p></content></paragraph><paragraph eId="schedule-3-paragraph-37" class="schProv1"><num>37</num><content><p>The provision that may be made under section 16(1) of the Limited Liability Partnerships Act 2000 (consequential amendments) includes provision in consequence of the amendment made by paragraph 38.</p></content></paragraph></hcontainer>
<hcontainer xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" name="crossheading" ukl:Name="Pblock" eId="schedule-3-crossheading-the-limited-liability-partnerships-regulations-2001"><heading><i>The Limited Liability Partnerships Regulations 2001</i></heading><paragraph eId="schedule-3-paragraph-38" class="schProv1"><num>38</num><content><p><mod>In the Limited Liability Partnerships Regulations 2001 (S.I. 2001/1090), in Part 4 (winding up and insolvency), in regulation 5 (application of the Insolvency Act 1986 to limited liability partnerships), in paragraph (1)(a) after “Parts” insert <quotedText>“
A1,
”</quotedText>.</mod></p></content></paragraph></hcontainer>
<hcontainer xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" name="definition"><content><p>“<term refersTo="#term-relevant-authority" eId="term-relevant-authority">relevant authority</term>” has the meaning given by section 28(4);</p></content></hcontainer>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" eId="schedule-3-paragraph-49" class="schProv1"><num>49</num><subparagraph eId="schedule-3-paragraph-49-1"><num>(1)</num><content><p>Paragraph 1 of Schedule 1 to the <ref eId="c00069" href="http://www.legislation.gov.uk/id/uksi/2012/3013">Charitable Incorporated Organisations (Insolvency and Dissolution) Regulations 2012 (S.I 2012/3013)</ref> (application of the Insolvency Act 1986) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-3-paragraph-49-2"><num>(2)</num><content><p>In sub-paragraph (1), at the beginning insert “Subject to sub-paragraph (2A)”.</p></content></subparagraph><subparagraph eId="schedule-3-paragraph-49-3"><num>(3)</num><content><p>In sub-paragraph (2)(a), for “Parts 1” substitute “Parts A1”.</p></content></subparagraph><subparagraph eId="schedule-3-paragraph-49-4"><num>(4)</num><content><p><mod>After sub-paragraph (2), insert—<quotedStructure startQuote="“" endQuote="”" uk:context="schedule" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="regulation" ukl:Context="schedule" ukl:Format="double"><subparagraph><num>(2A)</num><intro><p>Part A1 of the 1986 Act does not apply in relation to a CIO that is—</p></intro><level class="para1"><num>(a)</num><content><p>a private registered provider of social housing;</p></content></level><level class="para1"><num>(b)</num><content><p>registered as a social landlord under Part 1 of the Housing Act 1996.</p></content></level></subparagraph></quotedStructure></mod></p></content></subparagraph></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" eId="schedule-3-paragraph-55" class="schProv1"><num>55</num><subparagraph eId="schedule-3-paragraph-55-1"><num>(1)</num><content><p>Regulation 37 of the International Interests in Aircraft Equipment (Cape Town Convention) Regulations 2015 (<ref eId="c00073" href="http://www.legislation.gov.uk/id/uksi/2015/912">S.I. 2015/912</ref>) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-3-paragraph-55-2"><num>(2)</num><content><p><mod>After paragraph (3) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="regulation" ukl:Context="main" ukl:Format="double"><paragraph><num>(3A)</num><content><p>Where the insolvency-related event is the coming into force of a moratorium for a company under Part A1 of the Insolvency Act 1986, references in this regulation to the “insolvency office holder” are to the company.</p></content></paragraph></quotedStructure></mod></p></content></subparagraph><subparagraph eId="schedule-3-paragraph-55-3"><num>(3)</num><intro><p>In paragraph (12)—</p></intro><level class="para1" eId="schedule-3-paragraph-55-3-a"><num>(a)</num><content><p>in sub-paragraph (a) omit “Part 1 of the Insolvency Act 1986 (in the case of company voluntary arrangements) and”;</p></content></level><level class="para1" eId="schedule-3-paragraph-55-3-b"><num>(b)</num><content><p>omit sub-paragraph (i).</p></content></level></subparagraph><subparagraph eId="schedule-3-paragraph-55-4"><num>(4)</num><content><p><mod>After paragraph (12) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="regulation" ukl:Context="main" ukl:Format="double"><paragraph><num>(12A)</num><intro><p>Where this regulation applies by virtue of a moratorium for a company coming into force under Part A1 of the Insolvency Act 1986—</p></intro><level class="para1"><num>(a)</num><content><p>the provisions of this regulation are in addition to the provisions of Part A1 of that Act;</p></content></level><level class="para1"><num>(b)</num><content><p>the notices under section <ref href="#d25e618">A8</ref> of that Act must include a statement that this regulation applies, together with a statement of the effect of the application of this regulation;</p></content></level><level class="para1"><num>(c)</num><content><p>section <ref href="#d25e2084">A21</ref> of that Act (restrictions on enforcement) does not apply in relation to the aircraft object after the end of the waiting period under this regulation;</p></content></level><level class="para1"><num>(d)</num><content><p>sections <ref href="#d25e2888">A29</ref> to <ref href="#d25e3191">A32</ref> of that Act (provisions about disposal of property) do not apply to the aircraft object;</p></content></level><level class="para1"><num>(e)</num><content><p>the end of the waiting period under this regulation is without prejudice to the application of the provisions of Part A1 of that Act in respect of assets to which these Regulations do not apply.</p></content></level></paragraph></quotedStructure></mod></p></content></subparagraph></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-7-paragraph-31" class="schProv1"><num>31</num><content><p>In section 14 of the Limited Liability Partnerships Act 2000 (regulations to make provision about insolvency and winding up), in subsection (1)(b), for “Parts 2” substitute “Parts 1A”.</p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-7-paragraph-34" class="schProv1"><num>34</num><subparagraph eId="schedule-7-paragraph-34-1"><num>(1)</num><content><p>The Insolvency (Northern Ireland) Order 2002 is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-7-paragraph-34-2"><num>(2)</num><intro><p>In Schedule 1, omit—</p></intro><level class="para1" eId="schedule-7-paragraph-34-2-a"><num>(a)</num><content><p>paragraphs 2 to 5, 7 and 8;</p></content></level><level class="para1" eId="schedule-7-paragraph-34-2-b"><num>(b)</num><content><p>paragraph 9(2)(a) and (c) and (3)(a);</p></content></level><level class="para1" eId="schedule-7-paragraph-34-2-c"><num>(c)</num><content><p>paragraphs 10 to 12.</p></content></level></subparagraph></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-8-paragraph-12" class="schProv1"><num>12</num><content><p>Paragraphs <ref href="#schedule-8-paragraph-13">13</ref> to <ref href="#schedule-8-paragraph-54">54</ref> cease to have effect at the end of the relevant period, subject to paragraph <ref href="#schedule-8-paragraph-3">3</ref>.</p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-8-paragraph-15" class="schProv1"><num>15</num><content><p>A notice under Article <ref href="#d25e5705">13BC</ref><ref href="#d25e5715">(1)(a)</ref> of the Insolvency (Northern Ireland) Order 1989 must state the company’s address for service.</p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-8-paragraph-18" class="schProv1"><num>18</num><intro><p>A notice under Article <ref href="#d25e5890">13BE</ref><ref href="#d25e5900">(2)</ref> of the Insolvency (Northern Ireland) Order 1989 must—</p></intro><level class="para1" eId="schedule-8-paragraph-18-a"><num>(a)</num><content><p>state that it is given by the monitor acting in that capacity, and</p></content></level><level class="para1" eId="schedule-8-paragraph-18-b"><num>(b)</num><content><p>state the name and contact details of the monitor.</p></content></level></paragraph>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="schedule-8-paragraph-18-a"><num>(a)</num><content><p>state that it is given by the monitor acting in that capacity, and</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="schedule-8-paragraph-18-b"><num>(b)</num><content><p>state the name and contact details of the monitor.</p></content></level>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-8-paragraph-21" class="schProv1"><num>21</num><content><p>Each statement under Article <ref href="#d25e6113">13CA</ref><ref href="#d25e857">(1)(b)</ref> to <ref href="#d25e884">(d)</ref> or <ref href="#d25e6192">13CB</ref><ref href="#d25e936">(1)(b)</ref> to <ref href="#d25e969">(e)</ref> of the Insolvency (Northern Ireland) Order 1989 must be made within the period of 3 days ending with the day on which the documents under Article <ref href="#d25e6113">13CA</ref><ref href="#d25e851">(1)(a)</ref> to <ref href="#d25e884">(d)</ref> or <ref href="#d25e6192">13CB</ref><ref href="#d25e930">(1)(a)</ref> to <ref href="#d25e969">(e)</ref> are filed with the High Court (or, if the documents are filed on different days, the last of those days).</p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-8-paragraph-32" class="schProv1"><num>32</num><content><p>A statement under Article <ref href="#d25e6377">13CD</ref><ref href="#d25e6387">(2)</ref> must be made within the period of 3 days ending with the day on which the application under that Article is made.</p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" eId="schedule-9-paragraph-21" class="schProv1"><num>21</num><intro><p>In section 17 of the Limited Liability Partnerships Act 2000, in subsection (5)(b) (procedure for regulations applying provisions of Companies Act 2006)—</p></intro><level class="para1" eId="schedule-9-paragraph-21-a"><num>(a)</num><content><p>in the entry for Part 26 of the Companies Act 2006, after “reconstructions” insert “: general”;</p></content></level><level class="para1" eId="schedule-9-paragraph-21-b"><num>(b)</num><content><p><mod>after that entry insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="double"><blockList class="unordered none" ukl:Name="UnorderedList" ukl:Decoration="none"><item><p>Part 26A (arrangements and reconstructions: companies in financial difficulty);</p></item></blockList></quotedStructure><inline name="appendText">.</inline></mod></p></content></level></paragraph>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="schedule-9-paragraph-21-a"><num>(a)</num><content><p>in the entry for Part 26 of the Companies Act 2006, after “reconstructions” insert “: general”;</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" class="para1" eId="schedule-9-paragraph-21-b"><num>(b)</num><content><p><mod>after that entry insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="double"><blockList class="unordered none" ukl:Name="UnorderedList" ukl:Decoration="none"><item><p>Part 26A (arrangements and reconstructions: companies in financial difficulty);</p></item></blockList></quotedStructure><inline name="appendText">.</inline></mod></p></content></level>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" eId="schedule-9-paragraph-40" class="schProv1"><num>40</num><content><p><mod>In Part 2 of the Housing and Regeneration Act 2008 (regulation of social housing), in section 160 (company: arrangements and reconstructions), at the end insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="double"><subsection><num>(7)</num><content><p>The registered provider must notify the regulator of any order under section 901F of the Companies Act 2006 (court sanction for compromise or arrangement).</p></content></subsection><subsection><num>(8)</num><content><p>An order under section 901F of the Companies Act 2006 does not take effect until the registered provider has confirmed to the registrar of companies that the regulator has been notified.</p></content></subsection><subsection><num>(9)</num><content><p>The registered provider must notify the regulator of any order under section 901J of the Companies Act 2006 (powers of court to facilitate reconstruction or amalgamation).</p></content></subsection><subsection><num>(10)</num><content><p>The requirement in section 901J(6) of the Companies Act 2006 (sending copy of order to registrar) is satisfied only if the copy is accompanied by confirmation that the regulator has been notified.</p></content></subsection></quotedStructure></mod></p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" eId="schedule-9-paragraph-49" class="schProv1"><num>49</num><subparagraph eId="schedule-9-paragraph-49-1"><num>(1)</num><content><p>Part 6 of the Financial Services (Banking Reform) Act 2013 (special administration for operators of certain infrastructure systems) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-9-paragraph-49-2"><num>(2)</num><intro><p>In section 111 (financial market infrastructure administration)—</p></intro><level class="para1" eId="schedule-9-paragraph-49-2-a"><num>(a)</num><content><p>omit the “and” after paragraph (a), and</p></content></level><level class="para1" eId="schedule-9-paragraph-49-2-b"><num>(b)</num><content><p><mod>after paragraph (b) insert <quotedText startQuote="“">, and</quotedText><quotedStructure endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="double"><level class="para1"><num>(c)</num><content><p>confers power on the Bank of England to participate in proceedings under Part 26A of the Companies Act 2006 (arrangements and reconstructions: companies in financial difficulty).</p></content></level></quotedStructure></mod></p></content></level></subparagraph><subparagraph eId="schedule-9-paragraph-49-3"><num>(3)</num><content><p><mod>After section 124 insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="double"><hcontainer name="crossheading" ukl:Name="Pblock"><heading>Powers to participate in Part 26A proceedings</heading><section><num>124A</num><heading>Powers of Bank to participate in Part 26A proceedings</heading><subsection><num>(1)</num><content><p>This section applies where Part 26A of the Companies Act 2006 (“the 2006 Act”) (arrangements and reconstructions: companies in financial difficulty) applies in relation to an infrastructure company.</p></content></subsection><subsection><num>(2)</num><intro><p>A relevant applicant must give notice to the Bank of England of—</p></intro><level class="para1"><num>(a)</num><content><p>any application which the relevant applicant intends to make under section 901C(1) of the 2006 Act, and</p></content></level><level class="para1"><num>(b)</num><content><p>any application which the relevant applicant believes a creditor or member of the company has made, or intends to make, under section 901C(1) of that Act in relation to the company.</p></content></level></subsection><subsection><num>(3)</num><content><p>A relevant applicant may not make an application under section 901C(1) of the 2006 Act in relation to the company without the consent of the Bank of England.</p></content></subsection><subsection><num>(4)</num><intro><p>In this section “relevant applicant”, in relation to a company, means—</p></intro><level class="para1"><num>(a)</num><content><p>the company;</p></content></level><level class="para1"><num>(b)</num><content><p>if the company is being wound up, the liquidator;</p></content></level><level class="para1"><num>(c)</num><content><p>if the company is in administration, the administrator.</p></content></level></subsection><subsection><num>(5)</num><content><p>The Bank of England is entitled to be heard at any hearing of an application made under section 901C or 901F of the 2006 Act in relation to the company.</p></content></subsection><subsection><num>(6)</num><content><p>Any notice or other document required to be sent to a creditor of the company must also be sent to the Bank of England.</p></content></subsection><subsection><num>(7)</num><intro><p>A person appointed for the purpose by the Bank of England is entitled—</p></intro><level class="para1"><num>(a)</num><content><p>to attend any meeting of creditors of the company summoned under section 901C of the 2006 Act;</p></content></level><level class="para1"><num>(b)</num><content><p>to make representations as to any matter for decision at such a meeting.</p></content></level></subsection><subsection><num>(8)</num><content><p>Sections 197, 198 and 202A of the Banking Act 2009, and sections 201 and 202 of that Act, so far as relating to those sections, apply in relation to a failure by an infrastructure company to comply with subsection (2) or (3) above as they apply in relation to a compliance failure within the meaning of Part 5 of that Act.</p></content></subsection></section></hcontainer></quotedStructure></mod></p></content></subparagraph></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-14-paragraph-1" class="schProv1"><num>1</num><intro><p>In this Schedule “qualifying body” means—</p></intro><level class="para1" eId="schedule-14-paragraph-1-a"><num>(a)</num><content><p>a registered society within the meaning of the <ref eId="c00144" href="http://www.legislation.gov.uk/id/apni/1969/24">Co-operative and Community Benefit Societies Act (Northern Ireland) 1969 (c. 24 (N.I.))</ref>,</p></content></level><level class="para1" eId="schedule-14-paragraph-1-b"><num>(b)</num><content><p>a credit union within the meaning of the Credit Unions (Northern Ireland) Order 1985 (<ref eId="c00145" href="http://www.legislation.gov.uk/id/nisi/1985/1205">S.I. 1985/1205 (N.I. 12)</ref>),</p></content></level><level class="para1" eId="schedule-14-paragraph-1-c"><num>(c)</num><content><p>a building society within the meaning of the Building Societies Act 1986,</p></content></level><level class="para1" eId="schedule-14-paragraph-1-d"><num>(d)</num><content><p>a society that is registered within the meaning of the Friendly Societies Act 1974 or incorporated under the Friendly Societies Act 1992,</p></content></level><level class="para1" eId="schedule-14-paragraph-1-e"><num>(e)</num><content><p>a registered branch within the meaning of the Friendly Societies Act 1992,</p></content></level><level class="para1" eId="schedule-14-paragraph-1-f"><num>(f)</num><content><p>a Scottish charitable incorporated organisation within the meaning of Chapter 7 of Part 1 of the Charities and Trustee Investment (Scotland) Act <ref eId="c00146" href="http://www.legislation.gov.uk/id/asp/2005/10">2005 (asp 10)</ref>,</p></content></level><level class="para1" eId="schedule-14-paragraph-1-g"><num>(g)</num><content><p>a company within the meaning of section 1(1) of the Companies Act 2006,</p></content></level><level class="para1" eId="schedule-14-paragraph-1-h"><num>(h)</num><content><p>a charitable incorporated organisation within the meaning of Part 11 of the Charities Act 2011, and</p></content></level><level class="para1" eId="schedule-14-paragraph-1-i"><num>(i)</num><content><p>a registered society within the meaning of the Co-operative and Community Benefit Societies Act 2014.</p></content></level></paragraph>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="schedule-14-paragraph-1-a"><num>(a)</num><content><p>a registered society within the meaning of the <ref eId="c00144" href="http://www.legislation.gov.uk/id/apni/1969/24">Co-operative and Community Benefit Societies Act (Northern Ireland) 1969 (c. 24 (N.I.))</ref>,</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="schedule-14-paragraph-1-b"><num>(b)</num><content><p>a credit union within the meaning of the Credit Unions (Northern Ireland) Order 1985 (<ref eId="c00145" href="http://www.legislation.gov.uk/id/nisi/1985/1205">S.I. 1985/1205 (N.I. 12)</ref>),</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="schedule-14-paragraph-1-c"><num>(c)</num><content><p>a building society within the meaning of the Building Societies Act 1986,</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="schedule-14-paragraph-1-d"><num>(d)</num><content><p>a society that is registered within the meaning of the Friendly Societies Act 1974 or incorporated under the Friendly Societies Act 1992,</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="schedule-14-paragraph-1-e"><num>(e)</num><content><p>a registered branch within the meaning of the Friendly Societies Act 1992,</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="schedule-14-paragraph-1-f"><num>(f)</num><content><p>a Scottish charitable incorporated organisation within the meaning of Chapter 7 of Part 1 of the Charities and Trustee Investment (Scotland) Act <ref eId="c00146" href="http://www.legislation.gov.uk/id/asp/2005/10">2005 (asp 10)</ref>,</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="schedule-14-paragraph-1-g"><num>(g)</num><content><p>a company within the meaning of section 1(1) of the Companies Act 2006,</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="schedule-14-paragraph-1-h"><num>(h)</num><content><p>a charitable incorporated organisation within the meaning of Part 11 of the Charities Act 2011, and</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="schedule-14-paragraph-1-i"><num>(i)</num><content><p>a registered society within the meaning of the Co-operative and Community Benefit Societies Act 2014.</p></content></level>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-14-paragraph-4" class="schProv1"><num>4</num><subparagraph eId="schedule-14-paragraph-4-1"><num>(1)</num><content><p>The appropriate national authority may by regulations make provision for the purposes of, or in connection with, paragraph 3.</p></content></subparagraph><subparagraph eId="schedule-14-paragraph-4-2"><num>(2)</num><content><p>The appropriate national authority may by regulations make provision about the means by which, the form in which, and the period within which, any notice or other document relating to a meeting to which paragraph 3 applies or is expected to apply may be given or made available.</p></content></subparagraph><subparagraph eId="schedule-14-paragraph-4-3"><num>(3)</num><intro><p>Regulations under this paragraph may—</p></intro><level class="para1" eId="schedule-14-paragraph-4-3-a"><num>(a)</num><content><p>disapply or modify provisions of an enactment relating to meetings within paragraph 3(2);</p></content></level><level class="para1" eId="schedule-14-paragraph-4-3-b"><num>(b)</num><content><p>disapply or modify provisions of the constitution or rules of a qualifying body;</p></content></level><level class="para1" eId="schedule-14-paragraph-4-3-c"><num>(c)</num><content><p>make different provision for different purposes;</p></content></level><level class="para1" eId="schedule-14-paragraph-4-3-d"><num>(d)</num><content><p>make consequential, incidental or supplementary provision (including provision disapplying or modifying a provision of an enactment);</p></content></level><level class="para1" eId="schedule-14-paragraph-4-3-e"><num>(e)</num><content><p>make transitional provision or savings.</p></content></level></subparagraph><subparagraph eId="schedule-14-paragraph-4-4"><num>(4)</num><intro><p>In this paragraph “the appropriate national authority” means—</p></intro><level class="para1" eId="schedule-14-paragraph-4-4-a"><num>(a)</num><content><p>in relation to qualifying bodies within paragraph 1(g) or (h), the Secretary of State,</p></content></level><level class="para1" eId="schedule-14-paragraph-4-4-b"><num>(b)</num><content><p>in relation to qualifying bodies within paragraph 1(c), (d), (e) or (i), the Treasury,</p></content></level><level class="para1" eId="schedule-14-paragraph-4-4-c"><num>(c)</num><content><p>in relation to qualifying bodies within paragraph 1(f), the Scottish Ministers, and</p></content></level><level class="para1" eId="schedule-14-paragraph-4-4-d"><num>(d)</num><content><p>in relation to qualifying bodies within paragraph 1(a) or (b), the Department for the Economy in Northern Ireland.</p></content></level></subparagraph></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-14-paragraph-7" class="schProv1"><num>7</num><subparagraph eId="schedule-14-paragraph-7-1"><num>(1)</num><content><p>Regulations made by the Secretary of State or the Treasury under this Schedule are to be made by statutory instrument.</p></content></subparagraph><subparagraph eId="schedule-14-paragraph-7-2"><num>(2)</num><content><p>A statutory instrument containing regulations made by the Secretary of State under paragraph 2(2)(a) of this Schedule is subject to annulment in pursuance of a resolution of either House of Parliament.</p></content></subparagraph><subparagraph eId="schedule-14-paragraph-7-3"><num>(3)</num><content><p>A statutory instrument containing regulations made by the Secretary of State under paragraph <ref href="#schedule-14-paragraph-2-2-b">2(2)(b)</ref> of this Schedule or containing regulations made by the Secretary of State or the Treasury under paragraph 4 or 6 of this Schedule must be laid before Parliament as soon as reasonably practicable after being made.</p></content></subparagraph><subparagraph eId="schedule-14-paragraph-7-4"><num>(4)</num><content><p>Sub-paragraph <ref href="#schedule-14-paragraph-7-3">(3)</ref> does not apply if a draft of the statutory instrument has been laid before and approved by a resolution of each House of Parliament.</p></content></subparagraph><subparagraph eId="schedule-14-paragraph-7-5"><num>(5)</num><content><p>Regulations contained in a statutory instrument laid before Parliament by virtue of sub-paragraph <ref href="#schedule-14-paragraph-7-3">(3)</ref> cease to have effect at the end of the period of 40 days beginning with the day on which the instrument is made, unless during that period the instrument is approved by a resolution of each House of Parliament.</p></content></subparagraph><subparagraph eId="schedule-14-paragraph-7-6"><num>(6)</num><intro><p>In calculating the period of 40 days, no account is to be taken of any time during which—</p></intro><level class="para1" eId="schedule-14-paragraph-7-6-a"><num>(a)</num><content><p>Parliament is dissolved or prorogued, or</p></content></level><level class="para1" eId="schedule-14-paragraph-7-6-b"><num>(b)</num><content><p>both Houses of Parliament are adjourned for more than 4 days.</p></content></level></subparagraph><subparagraph eId="schedule-14-paragraph-7-7"><num>(7)</num><intro><p>Where regulations cease to have effect as a result of sub-paragraph <ref href="#schedule-14-paragraph-7-5">(5)</ref> that does not—</p></intro><level class="para1" eId="schedule-14-paragraph-7-7-a"><num>(a)</num><content><p>affect anything previously done under or by virtue of the regulations, or</p></content></level><level class="para1" eId="schedule-14-paragraph-7-7-b"><num>(b)</num><content><p>prevent the making of new regulations.</p></content></level></subparagraph></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-14-paragraph-10" class="schProv1"><num>10</num><intro><p>In this Schedule—</p></intro><hcontainer name="definition"><content><p>“accounts meeting” means a general meeting of a public company at which the company’s annual accounts and reports (within the meaning given by section 471 of the Companies Act 2006) are laid;</p></content></hcontainer><hcontainer name="definition"><content><p>“constitution”, in relation to a company, is to be construed in accordance with section 17 of the Companies Act 2006;</p></content></hcontainer><hcontainer name="definition"><content><p>“enactment” includes an Act of the Scottish Parliament and an instrument made under such an Act;</p></content></hcontainer><hcontainer name="definition"><content><p>“public company” has the meaning given by section 4(2) of the Companies Act 2006.</p></content></hcontainer></paragraph>
<hcontainer xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" xmlns:default="http://www.w3.org/1999/xhtml" xmlns:fo="http://www.w3.org/1999/XSL/Format" name="schedule" eId="schedule-4"><num>SCHEDULE 4<authorialNote class="referenceNote"><p>Section 3</p></authorialNote></num><heading>Moratoriums in Great Britain: temporary provision</heading><part eId="schedule-4-part-1"><num>PART 1</num><heading>“Relevant period” and powers to turn off temporary provision</heading><hcontainer name="crossheading" class="schGroup7"><heading>“Relevant period”</heading><paragraph eId="schedule-4-paragraph-1" class="schProv1"><num>1</num><intro><p>In this Schedule “relevant period” means the period which—</p></intro><level class="para1" eId="schedule-4-paragraph-1-a"><num>(a)</num><content><p>begins with the day on which this Schedule comes into force, and</p></content></level><level class="para1" eId="schedule-4-paragraph-1-b"><num>(b)</num><content><p>ends with 30 September 2020.</p></content></level></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Power to turn off particular provisions of Part 2 of this Schedule early</heading><paragraph eId="schedule-4-paragraph-2" class="schProv1"><num>2</num><subparagraph eId="schedule-4-paragraph-2-1"><num>(1)</num><content><p>The Secretary of State may by regulations made by statutory instrument provide for any provision made by Part 2 of this Schedule to cease to have effect before the end of the relevant period.</p></content></subparagraph><subparagraph eId="schedule-4-paragraph-2-2"><num>(2)</num><content><p>The regulations may include transitional provision or savings.</p></content></subparagraph><subparagraph eId="schedule-4-paragraph-2-3"><num>(3)</num><content><p>A statutory instrument containing regulations under sub-paragraph <ref href="#schedule-4-paragraph-2-1">(1)</ref> is subject to annulment in pursuance of a resolution of either House of Parliament.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Power to turn off provisions of Parts 3 and 4 of this Schedule early etc</heading><paragraph eId="schedule-4-paragraph-3" class="schProv1"><num>3</num><content><p>Rules under section 411 of the Insolvency Act 1986 may provide for any provision made by paragraphs <ref href="#schedule-4-paragraph-13">13</ref> to <ref href="#schedule-4-paragraph-51">51</ref> or <ref href="#schedule-4-paragraph-53">53</ref> to <ref href="#schedule-4-paragraph-90">90</ref> to cease to have effect before the end of the relevant period.</p></content></paragraph><paragraph eId="schedule-4-paragraph-4" class="schProv1"><num>4</num><content><p>Rules under section 411 of the Insolvency Act 1986 may make transitional provision or savings in connection with any provision made by paragraphs <ref href="#schedule-4-paragraph-13">13</ref> to <ref href="#schedule-4-paragraph-51">51</ref> or <ref href="#schedule-4-paragraph-53">53</ref> to <ref href="#schedule-4-paragraph-90">90</ref> ceasing to have effect (whether by virtue of paragraph <ref href="#schedule-4-paragraph-3">3</ref> or <ref href="#schedule-4-paragraph-12">12</ref>).</p></content></paragraph></hcontainer></part><part eId="schedule-4-part-2"><num>PART 2</num><heading>Modifications to primary legislation</heading><hcontainer name="crossheading" class="schGroup7"><heading>“Eligible” company: additional exclusion</heading><paragraph eId="schedule-4-paragraph-5" class="schProv1"><num>5</num><intro><p>During the relevant period, a company is not eligible for the purposes of section <ref href="#d25e268">A3</ref>, <ref href="#d25e320">A4</ref> or <ref href="#d25e375">A5</ref> of the Insolvency Act 1986 if the company—</p></intro><level class="para1" eId="schedule-4-paragraph-5-a"><num>(a)</num><content><p>has permission under Part 4A of the Financial Services and Markets Act 2000 to carry on a regulated activity within the meaning of that Act, and</p></content></level><level class="para1" eId="schedule-4-paragraph-5-b"><num>(b)</num><content><p>is not subject to a requirement imposed under that Act to refrain from holding money for clients.</p></content></level></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Relaxation of conditions for obtaining moratorium etc</heading><paragraph eId="schedule-4-paragraph-6" class="schProv1"><num>6</num><subparagraph eId="schedule-4-paragraph-6-1"><num>(1)</num><intro><p>For the purposes of obtaining a moratorium under section <ref href="#d25e268">A3</ref> of the Insolvency Act 1986 during the relevant period—</p></intro><level class="para1" eId="schedule-4-paragraph-6-1-a"><num>(a)</num><content><p>section <ref href="#d25e268">A3</ref> of that Act has effect as if subsection <ref href="#d25e278">(1)(a)</ref> were omitted;</p></content></level><level class="para1" eId="schedule-4-paragraph-6-1-b"><num>(b)</num><content><p>section <ref href="#d25e433">A6</ref><ref href="#d25e479">(1)(e)</ref> 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”;</p></content></level><level class="para1" eId="schedule-4-paragraph-6-1-c"><num>(c)</num><content><p>Schedule ZA1 to that Act has effect as if paragraph <ref href="#d25e15499">2(1)(b)</ref> and <ref href="#d25e15522">(2)(b)</ref> were omitted.</p></content></level></subparagraph><subparagraph eId="schedule-4-paragraph-6-2"><num>(2)</num><content><p>During the relevant period, only an overseas company may obtain a moratorium under section <ref href="#d25e320">A4</ref> of the Insolvency Act 1986.</p></content></subparagraph></paragraph><paragraph eId="schedule-4-paragraph-7" class="schProv1"><num>7</num><intro><p>In relation to an application for a moratorium made under section <ref href="#d25e320">A4</ref> or <ref href="#d25e375">A5</ref> of the Insolvency Act 1986 during the relevant period—</p></intro><level class="para1" eId="schedule-4-paragraph-7-a"><num>(a)</num><content><p>section <ref href="#d25e433">A6</ref><ref href="#d25e479">(1)(e)</ref> 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”;</p></content></level><level class="para1" eId="schedule-4-paragraph-7-b"><num>(b)</num><content><p>Schedule ZA1 to that Act has effect as if paragraph <ref href="#d25e15499">2(1)(b)</ref> and <ref href="#d25e15522">(2)(b)</ref> were omitted.</p></content></level></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Relaxation of conditions for extending moratorium obtained during relevant period</heading><paragraph eId="schedule-4-paragraph-8" class="schProv1"><num>8</num><subparagraph eId="schedule-4-paragraph-8-1"><num>(1)</num><content><p>This paragraph applies in relation to a moratorium that comes into force during the relevant period.</p></content></subparagraph><subparagraph eId="schedule-4-paragraph-8-2"><num>(2)</num><content><p>For the purposes of extending the moratorium under section <ref href="#d25e841">A10</ref> or <ref href="#d25e920">A11</ref> of the Insolvency Act 1986, subsection <ref href="#d25e884">(1)(d)</ref> of that section 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”.</p></content></subparagraph><subparagraph eId="schedule-4-paragraph-8-3"><num>(3)</num><content><p>In relation to an application under section <ref href="#d25e1090">A13</ref> of the Insolvency Act 1986 that the moratorium be extended, subsection <ref href="#d25e1147">(2)(d)</ref> of that section 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”.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Monitoring of moratorium obtained during relevant period</heading><paragraph eId="schedule-4-paragraph-9" class="schProv1"><num>9</num><content><p><mod>In relation to a moratorium that comes into force during the relevant period, section <ref href="#d25e3329">A35</ref><ref href="#d25e3333">(1)</ref> of the Insolvency Act 1986 has effect as if for the words from “it remains likely” to the end there were substituted <quotedText startQuote="“">—</quotedText><quotedStructure endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="double"><level class="para1"><num>(a)</num><content><p>it is likely that the moratorium will result in the rescue of the company as a going concern, or</p></content></level><level class="para1"><num>(b)</num><content><p>that, if one were to disregard any worsening of the financial position of the company for reasons relating to coronavirus, it is likely that the moratorium would result in the rescue of the company as a going concern.</p></content></level></quotedStructure></mod></p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Termination of moratorium obtained during relevant period</heading><paragraph eId="schedule-4-paragraph-10" class="schProv1"><num>10</num><content><p><mod>In relation to a moratorium that comes into force during the relevant period, section <ref href="#d25e3388">A38</ref>(1) of the Insolvency Act 1986 has effect as if for paragraph (a) there were substituted—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="double"><level class="para1"><num>(a)</num><intro><p>the monitor thinks—</p></intro><level class="para2"><num>(i)</num><content><p>that the moratorium is not likely to result in the rescue of the company as a going concern, and</p></content></level><level class="para2"><num>(ii)</num><content><p>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,</p></content></level></level></quotedStructure><inline name="appendText">.</inline></mod></p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>“Coronavirus”</heading><paragraph eId="schedule-4-paragraph-11" class="schProv1"><num>11</num><content><p>In the modifications made by this Part of this Schedule “coronavirus” means severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2).</p></content></paragraph></hcontainer></part><part eId="schedule-4-part-3"><num>PART 3</num><heading>Temporary rules: England and Wales</heading><hcontainer name="crossheading" class="schGroup7"><heading>Introductory</heading><paragraph eId="schedule-4-paragraph-12" class="schProv1"><num>12</num><content><p>Paragraphs <ref href="#schedule-4-paragraph-13">13</ref> to <ref href="#schedule-4-paragraph-51">51</ref> cease to have effect at the end of the relevant period, subject to paragraph <ref href="#schedule-4-paragraph-3">3</ref>.</p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Definition of “the court”</heading><paragraph eId="schedule-4-paragraph-13" class="schProv1"><num>13</num><content><p><mod>Section <ref href="#d25e5168">A54</ref><ref href="#d25e5172">(1)</ref> of the Insolvency Act 1986 has effect as if for the definition of “the court” there were substituted—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="double"><hcontainer name="definition"><content><p>“the court”, in relation to a company, means a court having jurisdiction to wind up the company;</p></content></hcontainer></quotedStructure><inline name="appendText">.</inline></mod></p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Content of documents relating to the obtaining or extending of a moratorium: general</heading><paragraph eId="schedule-4-paragraph-14" class="schProv1"><num>14</num><intro><p>A notice or statement under section <ref href="#d25e433">A6</ref><ref href="#d25e437">(1)</ref>, <ref href="#d25e618">A8</ref><ref href="#d25e628">(2)</ref>, <ref href="#d25e841">A10</ref><ref href="#d25e845">(1)</ref>, <ref href="#d25e920">A11</ref><ref href="#d25e924">(1)</ref> or <ref href="#d25e1090">A13</ref><ref href="#d25e1100">(2)</ref> of the Insolvency Act 1986 must state—</p></intro><level class="para1" eId="schedule-4-paragraph-14-a"><num>(a)</num><content><p>the provision under which it is given or made,</p></content></level><level class="para1" eId="schedule-4-paragraph-14-b"><num>(b)</num><content><p>the nature of the notice or statement,</p></content></level><level class="para1" eId="schedule-4-paragraph-14-c"><num>(c)</num><content><p>the date of the notice or statement, and</p></content></level><level class="para1" eId="schedule-4-paragraph-14-d"><num>(d)</num><content><p>the identification details for the company to which it relates.</p></content></level></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Authentication of documents relating to obtaining or extending moratorium: general</heading><paragraph eId="schedule-4-paragraph-15" class="schProv1"><num>15</num><subparagraph eId="schedule-4-paragraph-15-1"><num>(1)</num><content><p>A notice or statement under section <ref href="#d25e433">A6</ref><ref href="#d25e437">(1)</ref>, <ref href="#d25e841">A10</ref><ref href="#d25e845">(1)</ref>, <ref href="#d25e920">A11</ref><ref href="#d25e924">(1)</ref> or <ref href="#d25e1090">A13</ref><ref href="#d25e1100">(2)</ref> of the Insolvency Act 1986 must be authenticated by or on behalf of the person giving the notice or making the statement.</p></content></subparagraph><subparagraph eId="schedule-4-paragraph-15-2"><num>(2)</num><content><p>A notice under section <ref href="#d25e618">A8</ref><ref href="#d25e637">(2)(a)</ref> of the Insolvency Act 1986 must be authenticated by the monitor.</p></content></subparagraph><subparagraph eId="schedule-4-paragraph-15-3"><num>(3)</num><content><p>Rule 1.5 of the England and Wales Insolvency Rules applies for the purposes of authentication under this paragraph.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Notice that directors wish to obtain a moratorium</heading><paragraph eId="schedule-4-paragraph-16" class="schProv1"><num>16</num><intro><p>A notice under section <ref href="#d25e433">A6</ref><ref href="#d25e443">(1)(a)</ref> of the Insolvency Act 1986 must state—</p></intro><level class="para1" eId="schedule-4-paragraph-16-a"><num>(a)</num><content><p>the company’s address for service, and</p></content></level><level class="para1" eId="schedule-4-paragraph-16-b"><num>(b)</num><content><p>the court (and where applicable, the division or district registry of that court) or hearing centre in which the documents are to be filed under section <ref href="#d25e268">A3</ref> or the application under section <ref href="#d25e320">A4</ref> or <ref href="#d25e375">A5</ref> is to be made.</p></content></level></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Proposed monitor’s statement and consent to act</heading><paragraph eId="schedule-4-paragraph-17" class="schProv1"><num>17</num><subparagraph eId="schedule-4-paragraph-17-1"><num>(1)</num><intro><p>A statement under section <ref href="#d25e433">A6</ref><ref href="#d25e449">(1)(b)</ref> of the Insolvency Act 1986 must be headed “Proposed monitor’s statement and consent to act” and must contain the following—</p></intro><level class="para1" eId="schedule-4-paragraph-17-1-a"><num>(a)</num><content><p>a certificate that the proposed monitor is qualified to act as an insolvency practitioner in relation to the company,</p></content></level><level class="para1" eId="schedule-4-paragraph-17-1-b"><num>(b)</num><content><p>the proposed monitor’s IP number,</p></content></level><level class="para1" eId="schedule-4-paragraph-17-1-c"><num>(c)</num><content><p>the name of the relevant recognised professional body which is the source of the proposed monitor’s authorisation to act in relation to the company, and</p></content></level><level class="para1" eId="schedule-4-paragraph-17-1-d"><num>(d)</num><content><p>a statement that the proposed monitor consents to act as monitor in relation to the company.</p></content></level></subparagraph><subparagraph eId="schedule-4-paragraph-17-2"><num>(2)</num><content><p>In this paragraph “IP number” means the number assigned to an office-holder as an insolvency practitioner by the Secretary of State.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Timing of statements for obtaining moratorium</heading><paragraph eId="schedule-4-paragraph-18" class="schProv1"><num>18</num><content><p>Each statement under section <ref href="#d25e433">A6</ref><ref href="#d25e449">(1)(b)</ref> to <ref href="#d25e479">(e)</ref> of the Insolvency Act 1986 must be made within the period of 5 days ending with the day on which the documents under section <ref href="#d25e433">A6</ref><ref href="#d25e443">(1)(a)</ref> to <ref href="#d25e479">(e)</ref> are filed with the court (or, if the documents are filed on different days, the last of those days).</p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Notice by monitor where moratorium comes into force</heading><paragraph eId="schedule-4-paragraph-19" class="schProv1"><num>19</num><intro><p>A notice under section <ref href="#d25e618">A8</ref><ref href="#d25e628">(2)</ref> of the Insolvency Act 1986 must—</p></intro><level class="para1" eId="schedule-4-paragraph-19-a"><num>(a)</num><content><p>state that it is given by the monitor acting in that capacity, and</p></content></level><level class="para1" eId="schedule-4-paragraph-19-b"><num>(b)</num><content><p>state the name and contact details of the monitor.</p></content></level></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Notice that directors wish to extend a moratorium</heading><paragraph eId="schedule-4-paragraph-20" class="schProv1"><num>20</num><intro><p>A notice under section <ref href="#d25e841">A10</ref><ref href="#d25e851">(1)(a)</ref> or <ref href="#d25e920">A11</ref><ref href="#d25e930">(1)(a)</ref> of the Insolvency Act 1986 must state—</p></intro><level class="para1" eId="schedule-4-paragraph-20-a"><num>(a)</num><content><p>the company’s address for service, and</p></content></level><level class="para1" eId="schedule-4-paragraph-20-b"><num>(b)</num><content><p>the court (and where applicable, the division or district registry of that court) or hearing centre in which the notice is to be filed.</p></content></level></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Extension under section <ref href="#d25e841">A10</ref> or <ref href="#d25e920">A11</ref> of the Insolvency Act 1986: notices and statements</heading><paragraph eId="schedule-4-paragraph-21" class="schProv1"><num>21</num><content><p>A statement by the monitor under section <ref href="#d25e841">A10</ref><ref href="#d25e963">(1)(d)</ref> or <ref href="#d25e920">A11</ref><ref href="#d25e963">(1)(d)</ref> of the Insolvency Act 1986 must contain contact details of the monitor.</p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Timing of statements for extension under section <ref href="#d25e841">A10</ref> or <ref href="#d25e920">A11</ref></heading><paragraph eId="schedule-4-paragraph-22" class="schProv1"><num>22</num><content><p>Each statement under section <ref href="#d25e841">A10</ref><ref href="#d25e857">(1)(b)</ref> to <ref href="#d25e884">(d)</ref> or <ref href="#d25e920">A11</ref><ref href="#d25e936">(1)(b)</ref> to <ref href="#d25e969">(e)</ref> of the Insolvency Act 1986 must be made within the period of 3 days ending with the day on which the documents under section <ref href="#d25e841">A10</ref><ref href="#d25e851">(1)(a)</ref> to <ref href="#d25e884">(d)</ref> or <ref href="#d25e920">A11</ref><ref href="#d25e930">(1)(a)</ref> to <ref href="#d25e969">(e)</ref> are filed with the court (or, if the documents are filed on different days, the last of those days).</p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Obtaining creditor consent: qualifying decision procedure</heading><paragraph eId="schedule-4-paragraph-23" class="schProv1"><num>23</num><subparagraph eId="schedule-4-paragraph-23-1"><num>(1)</num><intro><p>The following apply, so far as relevant, for the purposes of a decision to consent to a revised end date for a moratorium under section <ref href="#d25e1007">A12</ref> of the Insolvency Act 1986—</p></intro><level class="para1" eId="schedule-4-paragraph-23-1-a"><num>(a)</num><content><p>Part 15 of the England and Wales Insolvency Rules (decision making), apart from rule 15.8(3)(f) and (g);</p></content></level><level class="para1" eId="schedule-4-paragraph-23-1-b"><num>(b)</num><content><p>Part 16 of the England and Wales Insolvency Rules (proxies), apart from rule 16.7.</p></content></level></subparagraph><subparagraph eId="schedule-4-paragraph-23-2"><num>(2)</num><content><p>In its application by virtue of sub-paragraph (1), Part 15 has effect subject to the modifications set out in paragraphs <ref href="#schedule-4-paragraph-24">24</ref> to <ref href="#schedule-4-paragraph-28">28</ref>.</p></content></subparagraph></paragraph><paragraph eId="schedule-4-paragraph-24" class="schProv1"><num>24</num><content><p><mod>Rule 15.11 of the England and Wales Insolvency Rules (notice of decision procedures etc) has effect as if, before the first entry in the table, there were inserted—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="rule" ukl:Context="main" ukl:Format="double"><tblock class="table" ukl:Orientation="portrait"><foreign><default:table xmlns="http://www.w3.org/1999/xhtml"><default:col span="1" style="width:25%"/><default:col span="1" style="width:25%"/><default:col span="1" style="width:25%"/><default:col span="1" style="width:25%"/><default:tbody><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">moratorium</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">decision of pre-moratorium creditors under section <ref href="#d25e1007">A12</ref> of the Act</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">the pre-moratorium creditors</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">5 days</p></default:td></default:tr></default:tbody></default:table></foreign></tblock></quotedStructure><inline name="appendText">.</inline></mod></p></content></paragraph><paragraph eId="schedule-4-paragraph-25" class="schProv1"><num>25</num><content><p><mod>Rule 15.28 of the England and Wales Insolvency Rules (creditors’ voting rights) has effect as if, before paragraph (1), there were inserted—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="rule" ukl:Context="main" ukl:Format="double"><paragraph><num>A1</num><intro><p>A pre-moratorium creditor is entitled to vote in a decision procedure under section <ref href="#d25e1007">A12</ref> of the Act only if—</p></intro><level class="para1"><num>(a)</num><content><p>the creditor has delivered to the convener a proof of the debt claimed in accordance with paragraph (3) including any calculation for the purposes of rule 15.31 or 15.32, and</p></content></level><level class="para1"><num>(b)</num><intro><p>the proof was received by the convener—</p></intro><level class="para2"><num>(i)</num><content><p>not later than the decision date, or in the case of a meeting, 4pm on the business day before the meeting, or</p></content></level><level class="para2"><num>(ii)</num><content><p>in the case of a meeting, later than the time given in sub-paragraph (i) where the chair is content to accept the proof, and</p></content></level></level><level class="para1"><num>(c)</num><content><p>the proof has been admitted for the purposes of entitlement to vote.</p></content></level></paragraph></quotedStructure></mod></p></content></paragraph><paragraph eId="schedule-4-paragraph-26" class="schProv1"><num>26</num><intro><p>Rule 15.31 of the England and Wales Insolvency Rules (calculation of voting rights) has effect as if—</p></intro><level class="para1" eId="schedule-4-paragraph-26-a"><num>(a)</num><content><p><mod>before paragraph (1) there were inserted—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="rule" ukl:Context="main" ukl:Format="double"><paragraph><num>A1</num><content><p>In relation to a decision to consent to a revised end date for a moratorium under section <ref href="#d25e1007">A12</ref> of the Act votes are calculated according to the amount of each creditor’s claim at the decision date.</p></content></paragraph></quotedStructure><inline name="appendText">;</inline></mod></p></content></level><level class="para1" eId="schedule-4-paragraph-26-b"><num>(b)</num><content><p><mod>after paragraph (2) there were inserted—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="rule" ukl:Context="main" ukl:Format="double"><paragraph><num>(2A)</num><content><p>But in relation to a decision to consent to a revised end date for a moratorium under section <ref href="#d25e1007">A12</ref> of the Act, a debt of an unliquidated or unascertained amount is to be valued at £1 for the purposes of voting unless the convener or chair or an appointed person decides to put a higher value on it.</p></content></paragraph></quotedStructure><inline name="appendText">;</inline></mod></p></content></level><level class="para1" eId="schedule-4-paragraph-26-c"><num>(c)</num><content><p><mod>in paragraph (6), after sub-paragraph (b) there were inserted—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="rule" ukl:Context="main" ukl:Format="double"><level class="para1"><num>(c)</num><content><p>where the decision relates to whether to consent to a revised end date for a moratorium under section <ref href="#d25e1007">A12</ref> of the Act.</p></content></level></quotedStructure></mod></p></content></level></paragraph><paragraph eId="schedule-4-paragraph-27" class="schProv1"><num>27</num><content><p><mod>Rule 15.32 of the England and Wales Insolvency Rules (calculation of voting rights: special cases) has effect as if, before paragraph (1), there were inserted—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="rule" ukl:Context="main" ukl:Format="double"><paragraph><num>A1</num><content><p>In relation to a decision to consent to a revised end date for a moratorium under section <ref href="#d25e1007">A12</ref> of the Act, a pre-moratorium creditor under a hire-purchase agreement is entitled to vote in respect of the amount of the debt due and payable by the company at the decision date.</p></content></paragraph><paragraph><num>B1</num><content><p>In calculating the amount of any debt for the purpose of paragraph (A1), no account is to be taken of any amount attributable to the exercise of any right under the relevant agreement so far as the right has become exercisable solely by virtue of a moratorium for the company coming into force.</p></content></paragraph></quotedStructure></mod></p></content></paragraph><paragraph eId="schedule-4-paragraph-28" class="schProv1"><num>28</num><content><p><mod>Rule 15.34 of the England and Wales Insolvency Rules (requisite majorities) has effect as if, before paragraph (1), there were inserted—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="rule" ukl:Context="main" ukl:Format="double"><paragraph><num>A1</num><intro><p>Subject to paragraph (B1), a decision to consent to a revised end date for a moratorium under section <ref href="#d25e1007">A12</ref> of the Act is made if, of those voting—</p></intro><level class="para1"><num>(a)</num><content><p>a majority (in value) of the pre-moratorium creditors who are secured creditors vote in favour of the proposed decision, and</p></content></level><level class="para1"><num>(b)</num><content><p>a majority (in value) of the pre-moratorium creditors who are unsecured creditors vote in favour of the proposed decision.</p></content></level></paragraph><paragraph><num>B1</num><intro><p>But a decision to consent to a revised end date for a moratorium under section <ref href="#d25e1007">A12</ref> of the Act is not made if, of those voting either—</p></intro><level class="para1"><num>(a)</num><content><p>a majority of the pre-moratorium creditors who are unconnected secured creditors vote against the proposed end date, or</p></content></level><level class="para1"><num>(b)</num><content><p>a majority of the pre-moratorium creditors who are unconnected unsecured creditors vote against the proposed end date.</p></content></level></paragraph><paragraph><num>C1</num><intro><p>For the purposes of paragraph (B1)—</p></intro><level class="para1"><num>(a)</num><content><p>a creditor is unconnected unless the convener or chair decides that the creditor is connected, and</p></content></level><level class="para1"><num>(b)</num><content><p>the total value of the unconnected creditors is the total value of those unconnected creditors whose claims have been admitted for voting.</p></content></level></paragraph></quotedStructure></mod></p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Content of application to the court for extension of moratorium</heading><paragraph eId="schedule-4-paragraph-29" class="schProv1"><num>29</num><subparagraph eId="schedule-4-paragraph-29-1"><num>(1)</num><intro><p>An application by the directors of a company for the extension of a moratorium under section <ref href="#d25e1090">A13</ref> of the Insolvency Act 1986 must state—</p></intro><level class="para1" eId="schedule-4-paragraph-29-1-a"><num>(a)</num><content><p>that it is made under that section,</p></content></level><level class="para1" eId="schedule-4-paragraph-29-1-b"><num>(b)</num><content><p>the length of the extension sought,</p></content></level><level class="para1" eId="schedule-4-paragraph-29-1-c"><num>(c)</num><content><p>identification details for the company to which the application relates,</p></content></level><level class="para1" eId="schedule-4-paragraph-29-1-d"><num>(d)</num><content><p>the company’s address for service, and</p></content></level><level class="para1" eId="schedule-4-paragraph-29-1-e"><num>(e)</num><content><p>the court (and where applicable, the division or district registry of that court) or hearing centre in which the application is made.</p></content></level></subparagraph><subparagraph eId="schedule-4-paragraph-29-2"><num>(2)</num><content><p>The application must be authenticated by or on behalf of the directors.</p></content></subparagraph><subparagraph eId="schedule-4-paragraph-29-3"><num>(3)</num><content><p>Rule 1.5 of the England and Wales Insolvency Rules applies for the purposes of authentication under sub-paragraph <ref href="#schedule-4-paragraph-29-2">(2)</ref>.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Timing of statements accompanying application to court for extension of moratorium</heading><paragraph eId="schedule-4-paragraph-30" class="schProv1"><num>30</num><content><p>A statement under section <ref href="#d25e1090">A13</ref><ref href="#d25e1100">(2)</ref> must be made within the period of 3 days ending with the day on which the application under that section is made.</p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Notices about change in end of moratorium</heading><paragraph eId="schedule-4-paragraph-31" class="schProv1"><num>31</num><subparagraph eId="schedule-4-paragraph-31-1"><num>(1)</num><content><p>A notice under section <ref href="#d25e1464">A17</ref><ref href="#d25e1468">(1)</ref> of the Insolvency Act 1986 must be given within the period of 5 days beginning with the day on which the duty to give the notice arises.</p></content></subparagraph><subparagraph eId="schedule-4-paragraph-31-2"><num>(2)</num><intro><p>The notice must state—</p></intro><level class="para1" eId="schedule-4-paragraph-31-2-a"><num>(a)</num><content><p>the name of the company to which it relates, and</p></content></level><level class="para1" eId="schedule-4-paragraph-31-2-b"><num>(b)</num><content><p>the provision by virtue of which the moratorium was extended or came to an end.</p></content></level></subparagraph></paragraph><paragraph eId="schedule-4-paragraph-32" class="schProv1"><num>32</num><subparagraph eId="schedule-4-paragraph-32-1"><num>(1)</num><content><p>A notice under section <ref href="#d25e1464">A17</ref><ref href="#d25e1610">(2)</ref> or <ref href="#d25e1627">(3)</ref> of the Insolvency Act 1986 must be given within the period of 5 days beginning with the day on which the duty to give the notice arises.</p></content></subparagraph><subparagraph eId="schedule-4-paragraph-32-2"><num>(2)</num><intro><p>The notice must state—</p></intro><level class="para1" eId="schedule-4-paragraph-32-2-a"><num>(a)</num><content><p>the provision under which it is given,</p></content></level><level class="para1" eId="schedule-4-paragraph-32-2-b"><num>(b)</num><content><p>the nature of the notice,</p></content></level><level class="para1" eId="schedule-4-paragraph-32-2-c"><num>(c)</num><content><p>the date of the notice,</p></content></level><level class="para1" eId="schedule-4-paragraph-32-2-d"><num>(d)</num><content><p>that it is given by the monitor acting in that capacity,</p></content></level><level class="para1" eId="schedule-4-paragraph-32-2-e"><num>(e)</num><content><p>the name and contact details of the monitor, and</p></content></level><level class="para1" eId="schedule-4-paragraph-32-2-f"><num>(f)</num><content><p>the identification details for the company to which it relates.</p></content></level></subparagraph><subparagraph eId="schedule-4-paragraph-32-3"><num>(3)</num><content><p>A notice under section <ref href="#d25e1464">A17</ref><ref href="#d25e1610">(2)</ref> or <ref href="#d25e1627">(3)</ref> of the Insolvency Act 1986 that is given to the registrar of companies must be authenticated by or on behalf of the monitor.</p></content></subparagraph><subparagraph eId="schedule-4-paragraph-32-4"><num>(4)</num><content><p>Rule 1.5 of the England and Wales Insolvency Rules applies for the purposes of authentication under sub-paragraph <ref href="#schedule-4-paragraph-32-3">(3)</ref>.</p></content></subparagraph></paragraph><paragraph eId="schedule-4-paragraph-33" class="schProv1"><num>33</num><intro><p>Where a moratorium comes to an end under section <ref href="#d25e1400">A16</ref> of the Insolvency Act 1986 because the company has entered into a relevant insolvency procedure within the meaning of that section, the notices under section <ref href="#d25e1464">A17</ref><ref href="#d25e1468">(1)</ref> and <ref href="#d25e1610">(2)</ref> must state—</p></intro><level class="para1" eId="schedule-4-paragraph-33-a"><num>(a)</num><content><p>the date on which the company entered into the relevant insolvency procedure, and</p></content></level><level class="para1" eId="schedule-4-paragraph-33-b"><num>(b)</num><content><p>the name and contact details of the supervisor of the voluntary arrangement, the administrator or the liquidator.</p></content></level></paragraph><paragraph eId="schedule-4-paragraph-34" class="schProv1"><num>34</num><subparagraph eId="schedule-4-paragraph-34-1"><num>(1)</num><content><p>A notice under section <ref href="#d25e1464">A17</ref><ref href="#d25e1633">(4)</ref> of the Insolvency Act 1986 must be given within the period of 3 business days beginning with the day on which the notice under section <ref href="#d25e3388">A38</ref>(1) of that Act is filed with the court.</p></content></subparagraph><subparagraph eId="schedule-4-paragraph-34-2"><num>(2)</num><content><p>The notice under section <ref href="#d25e1464">A17</ref><ref href="#d25e1633">(4)</ref> of that Act must be accompanied by the notice that the monitor has filed with the court under section <ref href="#d25e3388">A38</ref>(1) of that Act.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Notification by directors of insolvency proceedings etc</heading><paragraph eId="schedule-4-paragraph-35" class="schProv1"><num>35</num><subparagraph eId="schedule-4-paragraph-35-1"><num>(1)</num><content><p>A notice under section <ref href="#d25e2457">A24</ref><ref href="#d25e2525">(1)</ref> of the Insolvency Act 1986 must be given before the period of 3 days ending with the day on which the step mentioned there is taken.</p></content></subparagraph><subparagraph eId="schedule-4-paragraph-35-2"><num>(2)</num><content><p>A notice under section <ref href="#d25e2457">A24</ref><ref href="#d25e2485">(2)</ref> of the Insolvency Act 1986 must be given within the period of 3 days beginning with the day on which the duty to give the notice arises.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Notice of termination of moratorium</heading><paragraph eId="schedule-4-paragraph-36" class="schProv1"><num>36</num><subparagraph eId="schedule-4-paragraph-36-1"><num>(1)</num><content><p>A notice under section <ref href="#d25e3388">A38</ref>(1) of the Insolvency Act 1986 must be filed with the court as soon as practicable after the duty in that subsection arises.</p></content></subparagraph><subparagraph eId="schedule-4-paragraph-36-2"><num>(2)</num><intro><p>The notice must state—</p></intro><level class="para1" eId="schedule-4-paragraph-36-2-a"><num>(a)</num><content><p>the provision under which it is given,</p></content></level><level class="para1" eId="schedule-4-paragraph-36-2-b"><num>(b)</num><content><p>the nature of the notice,</p></content></level><level class="para1" eId="schedule-4-paragraph-36-2-c"><num>(c)</num><content><p>the date of the notice,</p></content></level><level class="para1" eId="schedule-4-paragraph-36-2-d"><num>(d)</num><content><p>the name and contact details of the monitor,</p></content></level><level class="para1" eId="schedule-4-paragraph-36-2-e"><num>(e)</num><content><p>the identification details for the company to which it relates,</p></content></level><level class="para1" eId="schedule-4-paragraph-36-2-f"><num>(f)</num><content><p>the grounds on which the moratorium is being terminated,</p></content></level><level class="para1" eId="schedule-4-paragraph-36-2-g"><num>(g)</num><content><p>the monitor’s reasons for concluding that those grounds are made out,</p></content></level><level class="para1" eId="schedule-4-paragraph-36-2-h"><num>(h)</num><content><p>the date on which the monitor concluded that those grounds were made out, and</p></content></level><level class="para1" eId="schedule-4-paragraph-36-2-i"><num>(i)</num><content><p>the court (and where applicable, the division or district registry of that court) or hearing centre in which the notice is to be filed.</p></content></level></subparagraph><subparagraph eId="schedule-4-paragraph-36-3"><num>(3)</num><content><p>The notice must be authenticated by or on behalf of the monitor.</p></content></subparagraph><subparagraph eId="schedule-4-paragraph-36-4"><num>(4)</num><content><p>Rule 1.5 of the England and Wales Insolvency Rules applies for the purposes of authentication under sub-paragraph <ref href="#schedule-4-paragraph-32-3">(3)</ref>.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Termination of moratorium under section <ref href="#d25e3388">A38</ref><ref href="#d25e3419">(1)(d)</ref> of the Insolvency Act 1986</heading><paragraph eId="schedule-4-paragraph-37" class="schProv1"><num>37</num><intro><p>For the purposes of deciding whether to bring a moratorium to an end under section <ref href="#d25e3388">A38</ref><ref href="#d25e3419">(1)(d)</ref> of the Insolvency Act 1986 the monitor must disregard—</p></intro><level class="para1" eId="schedule-4-paragraph-37-a"><num>(a)</num><content><p>any debts that the monitor has reasonable grounds for thinking are likely to be paid within 5 days of the decision, and</p></content></level><level class="para1" eId="schedule-4-paragraph-37-b"><num>(b)</num><content><p>any debts in respect of which the creditor has agreed to defer payment until a time that is later than the decision.</p></content></level></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Replacement of monitor or additional monitor: statement and consent to act</heading><paragraph eId="schedule-4-paragraph-38" class="schProv1"><num>38</num><subparagraph eId="schedule-4-paragraph-38-1"><num>(1)</num><intro><p>A statement under section <ref href="#d25e3488">A39</ref><ref href="#d25e3516">(4)</ref> of the Insolvency Act 1986 must be headed “Proposed monitor’s statement and consent to act” and must contain the following—</p></intro><level class="para1" eId="schedule-4-paragraph-38-1-a"><num>(a)</num><content><p>a certificate that the proposed monitor is qualified to act as an insolvency practitioner in relation to the company,</p></content></level><level class="para1" eId="schedule-4-paragraph-38-1-b"><num>(b)</num><content><p>the proposed monitor’s IP number,</p></content></level><level class="para1" eId="schedule-4-paragraph-38-1-c"><num>(c)</num><content><p>the name of the relevant recognised professional body which is the source of the proposed monitor’s authorisation to act in relation to the company, and</p></content></level><level class="para1" eId="schedule-4-paragraph-38-1-d"><num>(d)</num><content><p>a statement that the proposed monitor consents to act as monitor in relation to the company.</p></content></level></subparagraph><subparagraph eId="schedule-4-paragraph-38-2"><num>(2)</num><content><p>The statement must be made within the period of 5 days ending with the day on which it is filed with the court.</p></content></subparagraph><subparagraph eId="schedule-4-paragraph-38-3"><num>(3)</num><content><p>In this paragraph “IP number” means the number assigned to an office-holder as an insolvency practitioner by the Secretary of State.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Replacement of monitor or additional monitor: notification</heading><paragraph eId="schedule-4-paragraph-39" class="schProv1"><num>39</num><subparagraph eId="schedule-4-paragraph-39-1"><num>(1)</num><intro><p>A notice under section <ref href="#d25e3488">A39</ref><ref href="#d25e3579">(8)</ref> of the Insolvency Act 1986 must state—</p></intro><level class="para1" eId="schedule-4-paragraph-39-1-a"><num>(a)</num><content><p>the provision under which it is given,</p></content></level><level class="para1" eId="schedule-4-paragraph-39-1-b"><num>(b)</num><content><p>the nature of the notice,</p></content></level><level class="para1" eId="schedule-4-paragraph-39-1-c"><num>(c)</num><content><p>the date of the notice,</p></content></level><level class="para1" eId="schedule-4-paragraph-39-1-d"><num>(d)</num><content><p>the identification details for the company to which it relates,</p></content></level><level class="para1" eId="schedule-4-paragraph-39-1-e"><num>(e)</num><content><p>that it is given by the monitor acting in that capacity, and</p></content></level><level class="para1" eId="schedule-4-paragraph-39-1-f"><num>(f)</num><content><p>the name and contact details of the monitor.</p></content></level></subparagraph><subparagraph eId="schedule-4-paragraph-39-2"><num>(2)</num><content><p>The notice must be authenticated by the monitor.</p></content></subparagraph><subparagraph eId="schedule-4-paragraph-39-3"><num>(3)</num><content><p>Rule 1.5 of the England and Wales Insolvency Rules applies for the purposes of authentication under this paragraph.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Challenge to monitor’s remuneration</heading><paragraph eId="schedule-4-paragraph-40" class="schProv1"><num>40</num><subparagraph eId="schedule-4-paragraph-40-1"><num>(1)</num><content><p>An administrator or liquidator of a company may apply to the court on the ground that remuneration charged by the monitor in relation to a prior moratorium for the company under Part A1 of the Insolvency Act 1986 was excessive.</p></content></subparagraph><subparagraph eId="schedule-4-paragraph-40-2"><num>(2)</num><content><p>An application under this paragraph may not be made after the end of the period of 2 years beginning with the day after the moratorium ends.</p></content></subparagraph><subparagraph eId="schedule-4-paragraph-40-3"><num>(3)</num><intro><p>On an application under this paragraph the court may—</p></intro><level class="para1" eId="schedule-4-paragraph-40-3-a"><num>(a)</num><content><p>dismiss the application,</p></content></level><level class="para1" eId="schedule-4-paragraph-40-3-b"><num>(b)</num><content><p>order the monitor to repay some or all of the remuneration, or</p></content></level><level class="para1" eId="schedule-4-paragraph-40-3-c"><num>(c)</num><content><p>make such other order as it thinks fit.</p></content></level></subparagraph><subparagraph eId="schedule-4-paragraph-40-4"><num>(4)</num><content><p>The costs of an application under this paragraph are, unless the court orders otherwise, to be paid as an expense of the administration or liquidation.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Challenge to directors’ actions: qualifying decision procedure</heading><paragraph eId="schedule-4-paragraph-41" class="schProv1"><num>41</num><intro><p>Where the court makes an order by virtue of section A44(4)(c) of the Insolvency Act 1986 requiring a decision of a company’s creditors, the following provisions of the England and Wales Insolvency Rules apply for the purposes of that decision to the extent set out in the court’s order and subject to any modifications set out in the court’s order—</p></intro><level class="para1" eId="schedule-4-paragraph-41-a"><num>(a)</num><content><p>Part 15 (decision making);</p></content></level><level class="para1" eId="schedule-4-paragraph-41-b"><num>(b)</num><content><p>Part 16 (proxies).</p></content></level></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Priority of moratorium debts etc in subsequent winding up</heading><paragraph eId="schedule-4-paragraph-42" class="schProv1"><num>42</num><subparagraph eId="schedule-4-paragraph-42-1"><num>(1)</num><intro><p>Where section 174A of the Insolvency Act 1986 applies, the moratorium debts and pre-moratorium debts mentioned in subsection (2)(b) of that section are payable in the following order of priority—</p></intro><level class="para1" eId="schedule-4-paragraph-42-1-a"><num>(a)</num><content><p>amounts payable in respect of goods or services supplied during the moratorium under a contract where, but for section 233B(3) or (4) of that Act, the supplier would not have had to make that supply;</p></content></level><level class="para1" eId="schedule-4-paragraph-42-1-b"><num>(b)</num><content><p>wages or salary arising under a contract of employment;</p></content></level><level class="para1" eId="schedule-4-paragraph-42-1-c"><num>(c)</num><content><p>other debts or other liabilities apart from the monitor’s remuneration or expenses;</p></content></level><level class="para1" eId="schedule-4-paragraph-42-1-d"><num>(d)</num><content><p>the monitor’s remuneration or expenses.</p></content></level></subparagraph><subparagraph eId="schedule-4-paragraph-42-2"><num>(2)</num><content><p>In this paragraph “wages or salary” has the same meaning as in section <ref href="#d25e1722">A18</ref> of the Insolvency Act 1986.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Priority of moratorium debts etc in subsequent administration</heading><paragraph eId="schedule-4-paragraph-43" class="schProv1"><num>43</num><subparagraph eId="schedule-4-paragraph-43-1"><num>(1)</num><intro><p>Where paragraph 64A(1) of Schedule B1 to the Insolvency Act 1986 applies, the moratorium debts and pre-moratorium debts mentioned in paragraph 64A(2) of that Schedule are payable in the following order of priority—</p></intro><level class="para1" eId="schedule-4-paragraph-43-1-a"><num>(a)</num><content><p>amounts payable in respect of goods or services supplied during the moratorium under a contract where, but for section 233B(3) or (4) of that Act, the supplier would not have had to make that supply;</p></content></level><level class="para1" eId="schedule-4-paragraph-43-1-b"><num>(b)</num><content><p>wages or salary arising under a contract of employment;</p></content></level><level class="para1" eId="schedule-4-paragraph-43-1-c"><num>(c)</num><content><p>other debts or other liabilities apart from the monitor’s remuneration or expenses;</p></content></level><level class="para1" eId="schedule-4-paragraph-43-1-d"><num>(d)</num><content><p>the monitor’s remuneration or expenses.</p></content></level></subparagraph><subparagraph eId="schedule-4-paragraph-43-2"><num>(2)</num><content><p>In this paragraph “wages or salary” has the same meaning as in section <ref href="#d25e1722">A18</ref> of the Insolvency Act 1986.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Prescribed format of documents</heading><paragraph eId="schedule-4-paragraph-44" class="schProv1"><num>44</num><content><p>Rule 1.4 of the England and Wales Insolvency Rules (requirement for writing and form of documents) applies for the purposes of Part A1 of the Insolvency Act 1986.</p></content></paragraph><paragraph eId="schedule-4-paragraph-45" class="schProv1"><num>45</num><subparagraph eId="schedule-4-paragraph-45-1"><num>(1)</num><content><p>The following provisions of the England and Wales Insolvency Rules apply, so far as relevant, to any requirement imposed by a provision of this Part of this Schedule—</p><blockList class="unordered none" ukl:Name="UnorderedList" ukl:Decoration="none"><item><p>rule 1.8 (prescribed format of documents), and</p></item><item><p>rule 1.9(1) (variations from prescribed contents).</p></item></blockList></content></subparagraph><subparagraph eId="schedule-4-paragraph-45-2"><num>(2)</num><content><p>In their application by virtue of sub-paragraph (1), a reference in rule 1.8 or 1.9(1) to the requirements of a rule is to be read as a reference to the requirements of the provision of this Part of this Schedule.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Delivery of documents</heading><paragraph eId="schedule-4-paragraph-46" class="schProv1"><num>46</num><content><p>The following provisions of Chapter 9 of Part 1 of the England and Wales Insolvency Rules apply for the purposes of proceedings under Part A1 of the Insolvency Act 1986 as if rule 1.36(1) included a reference to such proceedings—</p><blockList class="unordered none" ukl:Name="UnorderedList" ukl:Decoration="none"><item><p>rule 1.36(2) (delivery to registrar of companies);</p></item><item><p>rule 1.40 (delivery of documents to authorised recipients);</p></item><item><p>rule 1.41 (delivery of documents to joint office-holders);</p></item><item><p>rule 1.42 (postal delivery of documents);</p></item><item><p>rule 1.43 (delivery by document exchange);</p></item><item><p>rule 1.44 (personal delivery of documents);</p></item><item><p>rule 1.45 (electronic delivery of documents).</p></item></blockList></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Applications to court</heading><paragraph eId="schedule-4-paragraph-47" class="schProv1"><num>47</num><subparagraph eId="schedule-4-paragraph-47-1"><num>(1)</num><intro><p>The provisions of the England and Wales Insolvency Rules specified in the Table apply, so far as relevant, for the purposes of proceedings under—</p></intro><level class="para1" eId="schedule-4-paragraph-47-1-a"><num>(a)</num><content><p>Part A1 of the Insolvency Act 1986;</p></content></level><level class="para1" eId="schedule-4-paragraph-47-1-b"><num>(b)</num><content><p>this Part of this Schedule.</p></content></level></subparagraph><subparagraph eId="schedule-4-paragraph-47-2"><num>(2)</num><intro><p>In their application by virtue of sub-paragraph (1), the provisions listed in the Table have effect with—</p></intro><level class="para1" eId="schedule-4-paragraph-47-2-a"><num>(a)</num><content><p>the modification set out in sub-paragraph <ref href="#schedule-4-paragraph-47-3">(3)</ref>,</p></content></level><level class="para1" eId="schedule-4-paragraph-47-2-b"><num>(b)</num><content><p>the modifications specified in the Table, and</p></content></level><level class="para1" eId="schedule-4-paragraph-47-2-c"><num>(c)</num><content><p>any other necessary modifications.</p></content></level></subparagraph><subparagraph eId="schedule-4-paragraph-47-3"><num>(3)</num><content><p>The modification is that any reference to Part 1 of the Insolvency Act 1986 includes a reference to Part A1 of that Act and this Part of this Schedule.</p></content></subparagraph><subparagraph eId="schedule-4-paragraph-47-4"><num>(4)</num><content><p>This is the Table referred to in sub-paragraphs <ref href="#schedule-4-paragraph-47-1">(1)</ref> and <ref href="#schedule-4-paragraph-47-2">(2)</ref>—</p><tblock class="table" ukl:Orientation="portrait"><foreign><default:table xmlns="http://www.w3.org/1999/xhtml"><default:col span="1" style="width:24%"/><default:col span="1" style="width:30%"/><default:col span="1" style="width:46%"/><default:thead><default:tr><default:th><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Insolvency Rules</p></default:th><default:th xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Topic</p></default:th><default:th xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Modifications</p></default:th></default:tr></default:thead><default:tbody><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-top-style="solid" fo:border-top-width="0.5pt" fo:border-top-color="black" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Rule 1.35</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black" fo:border-top-style="solid" fo:border-top-width="0.5pt" fo:border-top-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Standard contents and authentication of applications</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black" fo:border-top-style="solid" fo:border-top-width="0.5pt" fo:border-top-color="black"/></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Rules 12.1 and 12.2</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Court rules and practice to apply etc</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"/></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Rule 12.3 and Schedule 6</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Commencement of proceedings</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"/></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Rules 12.7 to 12.11 and 12.13</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Making applications to court: general</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Rule 12.9 has effect as if, in relation to a regulated company (within the meaning of section <ref href="#d25e4390">A49</ref> of the Insolvency Act 1986), it also required the application to be served on the appropriate regulator (within the meaning of that section).</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Rules 12.27 to 12.29</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Obtaining information and evidence</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Rule 12.29(3) has effect as if it included a reference to the monitor in relation to a moratorium.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" rowspan="2" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Rules 12.30, 12.31, 12.33 and 12.35 to 12.38</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black" rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Transfer of proceedings</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">(a) Rule 12.36(2) has effect as if the list of office-holders included the monitor in relation to a moratorium.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">(b) Rule 12.37(2) and (3) have effect as if the list of provisions included section <ref href="#d25e3488">A39</ref> of the Insolvency Act 1986.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Rules 12.39 and 12.40</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">The court file</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"/></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Rules 12.41, 12.42(5), 12.47, 12.48 and 12.50</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Costs</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Rule 12.48(2) has effect as if it required the applicant to serve a sealed copy of the application on the monitor and the company to which the moratorium relates.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Rule 12.51</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Enforcement of court orders</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"/></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Rules 12.58, 12.59 and 12.61 and Schedule 10</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Appeals</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"/></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Rules 12.63 to 12.65</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Court orders, formal defects and shorthand writers</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"/></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Schedule 4, paragraphs 1, 4, 5 and 6</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"/><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">These paragraphs of Schedule 4 apply only for the purposes of the rules applied by this Table.</p></default:td></default:tr></default:tbody></default:table></foreign></tblock></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Identification details for a company</heading><paragraph eId="schedule-4-paragraph-48" class="schProv1"><num>48</num><subparagraph eId="schedule-4-paragraph-48-1"><num>(1)</num><intro><p>Where a provision of this Part of this Schedule requires a document to contain identification details for a company that is registered under the Companies Act 2006 in England and Wales, the following information must be given—</p></intro><level class="para1" eId="schedule-4-paragraph-48-1-a"><num>(a)</num><content><p>the company’s registered name;</p></content></level><level class="para1" eId="schedule-4-paragraph-48-1-b"><num>(b)</num><content><p>its registered number;</p></content></level></subparagraph><subparagraph eId="schedule-4-paragraph-48-2"><num>(2)</num><intro><p>Where a provision of this Part of this Schedule requires a document to contain identification details for a company that has registered particulars under section 1046(1) of the Companies Act 2006 (registered overseas companies), the following information must be given—</p></intro><level class="para1" eId="schedule-4-paragraph-48-2-a"><num>(a)</num><content><p>the name registered by the company under section 1047 of that Act,</p></content></level><level class="para1" eId="schedule-4-paragraph-48-2-b"><num>(b)</num><content><p>the number under which it is registered, and</p></content></level><level class="para1" eId="schedule-4-paragraph-48-2-c"><num>(c)</num><content><p>the country or territory in which it is incorporated.</p></content></level></subparagraph><subparagraph eId="schedule-4-paragraph-48-3"><num>(3)</num><intro><p>Where a provision of this Part of this Schedule requires a document to contain identification details for an unregistered company that does not come within sub-paragraph (2) the following information must be given—</p></intro><level class="para1" eId="schedule-4-paragraph-48-3-a"><num>(a)</num><content><p>the company’s name, and</p></content></level><level class="para1" eId="schedule-4-paragraph-48-3-b"><num>(b)</num><content><p>the postal address of any principal place of business.</p></content></level></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Contact details of a monitor or other office-holder</heading><paragraph eId="schedule-4-paragraph-49" class="schProv1"><num>49</num><intro><p>Where a provision of this Part of this Schedule requires a document to contain contact details of a monitor or other office-holder, the following information must be given—</p></intro><level class="para1" eId="schedule-4-paragraph-49-a"><num>(a)</num><content><p>a postal address for the monitor or office-holder, and</p></content></level><level class="para1" eId="schedule-4-paragraph-49-b"><num>(b)</num><content><p>either an email address, or a telephone number, through which the monitor may be contacted.</p></content></level></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>“The England and Wales Insolvency Rules”</heading><paragraph eId="schedule-4-paragraph-50" class="schProv1"><num>50</num><content><p>In this Part of this Schedule “the England and Wales Insolvency Rules” means the Insolvency (England and Wales) Rules 2016.</p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Interpretation: general</heading><paragraph eId="schedule-4-paragraph-51" class="schProv1"><num>51</num><content><p>Expressions used in this Part of this Schedule are to be construed as if this Part of this Schedule were contained in Part A1 of the Insolvency Act 1986.</p></content></paragraph></hcontainer></part><part eId="schedule-4-part-4"><num>PART 4</num><heading>Temporary rules: Scotland</heading><hcontainer name="crossheading" class="schGroup7"><heading>Introductory</heading><paragraph eId="schedule-4-paragraph-52" class="schProv1"><num>52</num><content><p>Paragraphs <ref href="#schedule-4-paragraph-53">53</ref> to <ref href="#schedule-4-paragraph-90">90</ref> cease to have effect at the end of the relevant period, subject to paragraph <ref href="#schedule-4-paragraph-3">3</ref>.</p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Definition of “the court”</heading><paragraph eId="schedule-4-paragraph-53" class="schProv1"><num>53</num><content><p><mod>Section <ref href="#d25e5168">A54</ref><ref href="#d25e5172">(1)</ref> of the Insolvency Act 1986 has effect as if for the definition of “the court” there were substituted—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="double"><hcontainer name="definition"><content><p>“the court”, in relation to a company, means a court having jurisdiction to wind up the company;</p></content></hcontainer></quotedStructure><inline name="appendText">.</inline></mod></p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Content of documents relating to the obtaining or extending of a moratorium: general</heading><paragraph eId="schedule-4-paragraph-54" class="schProv1"><num>54</num><intro><p>A notice or statement under section <ref href="#d25e433">A6</ref><ref href="#d25e437">(1)</ref>, <ref href="#d25e618">A8</ref><ref href="#d25e628">(2)</ref>, <ref href="#d25e841">A10</ref><ref href="#d25e845">(1)</ref>, <ref href="#d25e920">A11</ref><ref href="#d25e924">(1)</ref> or <ref href="#d25e1090">A13</ref><ref href="#d25e1100">(2)</ref> of the Insolvency Act 1986 must state—</p></intro><level class="para1" eId="schedule-4-paragraph-54-a"><num>(a)</num><content><p>the provision under which it is given or made,</p></content></level><level class="para1" eId="schedule-4-paragraph-54-b"><num>(b)</num><content><p>the nature of the notice or statement,</p></content></level><level class="para1" eId="schedule-4-paragraph-54-c"><num>(c)</num><content><p>the date of the notice or statement, and</p></content></level><level class="para1" eId="schedule-4-paragraph-54-d"><num>(d)</num><content><p>the identification details for the company to which it relates.</p></content></level></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Authentication of documents relating to obtaining or extending moratorium: general</heading><paragraph eId="schedule-4-paragraph-55" class="schProv1"><num>55</num><subparagraph eId="schedule-4-paragraph-55-1"><num>(1)</num><content><p>A notice or statement under section <ref href="#d25e433">A6</ref><ref href="#d25e437">(1)</ref>, <ref href="#d25e841">A10</ref><ref href="#d25e845">(1)</ref>, <ref href="#d25e920">A11</ref><ref href="#d25e924">(1)</ref> or <ref href="#d25e1090">A13</ref><ref href="#d25e1100">(2)</ref> of the Insolvency Act 1986 must be authenticated by or on behalf of the person giving the notice or making the statement.</p></content></subparagraph><subparagraph eId="schedule-4-paragraph-55-2"><num>(2)</num><content><p>A notice under section <ref href="#d25e618">A8</ref><ref href="#d25e637">(2)(a)</ref> of the Insolvency Act 1986 must be authenticated by the monitor.</p></content></subparagraph><subparagraph eId="schedule-4-paragraph-55-3"><num>(3)</num><content><p>Rule 1.6 of the Scottish Insolvency Rules applies for the purposes of authentication under this paragraph.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Notice that directors wish to obtain a moratorium</heading><paragraph eId="schedule-4-paragraph-56" class="schProv1"><num>56</num><intro><p>A notice under section <ref href="#d25e433">A6</ref><ref href="#d25e443">(1)(a)</ref> of the Insolvency Act 1986 must state—</p></intro><level class="para1" eId="schedule-4-paragraph-56-a"><num>(a)</num><content><p>the company’s address for service, and</p></content></level><level class="para1" eId="schedule-4-paragraph-56-b"><num>(b)</num><content><p>the court in which the documents are to be lodged under section <ref href="#d25e268">A3</ref> or the application under section <ref href="#d25e320">A4</ref> or <ref href="#d25e375">A5</ref> is to be made.</p></content></level></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Proposed monitor’s statement and consent to act</heading><paragraph eId="schedule-4-paragraph-57" class="schProv1"><num>57</num><subparagraph eId="schedule-4-paragraph-57-1"><num>(1)</num><intro><p>A statement under section <ref href="#d25e433">A6</ref><ref href="#d25e449">(1)(b)</ref> of the Insolvency Act 1986 must be headed “Proposed monitor’s statement and consent to act” and must contain the following—</p></intro><level class="para1" eId="schedule-4-paragraph-57-1-a"><num>(a)</num><content><p>a certificate that the proposed monitor is qualified to act as an insolvency practitioner in relation to the company,</p></content></level><level class="para1" eId="schedule-4-paragraph-57-1-b"><num>(b)</num><content><p>the proposed monitor’s IP number,</p></content></level><level class="para1" eId="schedule-4-paragraph-57-1-c"><num>(c)</num><content><p>the name of the relevant recognised professional body which is the source of the proposed monitor’s authorisation to act in relation to the company, and</p></content></level><level class="para1" eId="schedule-4-paragraph-57-1-d"><num>(d)</num><content><p>a statement that the proposed monitor consents to act as monitor in relation to the company.</p></content></level></subparagraph><subparagraph eId="schedule-4-paragraph-57-2"><num>(2)</num><content><p>In this paragraph “IP number” means the number assigned to an office-holder as an insolvency practitioner by the Secretary of State.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Timing of statements for obtaining moratorium</heading><paragraph eId="schedule-4-paragraph-58" class="schProv1"><num>58</num><content><p>Each statement under section <ref href="#d25e433">A6</ref><ref href="#d25e449">(1)(b)</ref> to <ref href="#d25e479">(e)</ref> of the Insolvency Act 1986 must be made within the period of 5 days ending with the day on which the documents under section <ref href="#d25e433">A6</ref><ref href="#d25e443">(1)(a)</ref> to <ref href="#d25e479">(e)</ref> are lodged in the court (or, if the documents are lodged on different days, the last of those days).</p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Notice by monitor where moratorium comes into force</heading><paragraph eId="schedule-4-paragraph-59" class="schProv1"><num>59</num><intro><p>A notice under section <ref href="#d25e618">A8</ref><ref href="#d25e628">(2)</ref> of the Insolvency Act 1986 must—</p></intro><level class="para1" eId="schedule-4-paragraph-59-a"><num>(a)</num><content><p>state that it is given by the monitor acting in that capacity, and</p></content></level><level class="para1" eId="schedule-4-paragraph-59-b"><num>(b)</num><content><p>state the name and contact details of the monitor.</p></content></level></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Notice that directors wish to extend a moratorium</heading><paragraph eId="schedule-4-paragraph-60" class="schProv1"><num>60</num><intro><p>A notice under section <ref href="#d25e841">A10</ref><ref href="#d25e851">(1)(a)</ref> or <ref href="#d25e920">A11</ref><ref href="#d25e930">(1)(a)</ref> of the Insolvency Act 1986 must state—</p></intro><level class="para1" eId="schedule-4-paragraph-60-a"><num>(a)</num><content><p>the company’s address for service,</p></content></level><level class="para1" eId="schedule-4-paragraph-60-b"><num>(b)</num><content><p>the court in which the notice is to be lodged.</p></content></level></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Extension under section <ref href="#d25e841">A10</ref> or <ref href="#d25e920">A11</ref> of the Insolvency Act 1986: notices and statements</heading><paragraph eId="schedule-4-paragraph-61" class="schProv1"><num>61</num><content><p>A statement by the monitor under section <ref href="#d25e841">A10</ref><ref href="#d25e963">(1)(d)</ref> or <ref href="#d25e920">A11</ref><ref href="#d25e963">(1)(d)</ref> of the Insolvency Act 1986 must contain contact details of the monitor.</p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Timing of statements for extension under section <ref href="#d25e841">A10</ref> or <ref href="#d25e920">A11</ref></heading><paragraph eId="schedule-4-paragraph-62" class="schProv1"><num>62</num><content><p>Each statement under section <ref href="#d25e841">A10</ref><ref href="#d25e857">(1)(b)</ref> to <ref href="#d25e884">(d)</ref> or <ref href="#d25e920">A11</ref><ref href="#d25e936">(1)(b)</ref> to <ref href="#d25e969">(e)</ref> of the Insolvency Act 1986 must be made within the period of 3 days ending with the day on which the documents under section <ref href="#d25e841">A10</ref><ref href="#d25e851">(1)(a)</ref> to <ref href="#d25e884">(d)</ref> or <ref href="#d25e920">A11</ref><ref href="#d25e930">(1)(a)</ref> to <ref href="#d25e969">(e)</ref> are lodged in the court (or, if the documents are lodged on different days, the last of those days).</p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Obtaining creditor consent: qualifying decision procedure</heading><paragraph eId="schedule-4-paragraph-63" class="schProv1"><num>63</num><subparagraph eId="schedule-4-paragraph-63-1"><num>(1)</num><intro><p>The following apply, so far as relevant, for the purposes of a decision to consent to a revised end date for a moratorium under section <ref href="#d25e1007">A12</ref> of the Insolvency Act 1986—</p></intro><level class="para1" eId="schedule-4-paragraph-63-1-a"><num>(a)</num><content><p>Part 5 of the Scottish Insolvency Rules (decision making), apart from rule 5.8(3)(f) and (g);</p></content></level><level class="para1" eId="schedule-4-paragraph-63-1-b"><num>(b)</num><content><p>Part 6 of the Scottish Insolvency Rules (proxies), apart from rule 6.7.</p></content></level></subparagraph><subparagraph eId="schedule-4-paragraph-63-2"><num>(2)</num><content><p>In its application by virtue of sub-paragraph (1), Part 5 has effect subject to the modifications set out in paragraphs <ref href="#schedule-4-paragraph-64">64</ref> to <ref href="#schedule-4-paragraph-68">68</ref>.</p></content></subparagraph></paragraph><paragraph eId="schedule-4-paragraph-64" class="schProv1"><num>64</num><content><p><mod>Rule 5.11 of the Scottish Insolvency Rules (notice of decision procedures etc) has effect as if, before the first entry in the table, there were inserted—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="rule" ukl:Context="main" ukl:Format="double"><tblock class="table" ukl:Orientation="portrait"><foreign><default:table xmlns="http://www.w3.org/1999/xhtml"><default:col span="1" style="width:25%"/><default:col span="1" style="width:25%"/><default:col span="1" style="width:25%"/><default:col span="1" style="width:25%"/><default:tbody><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">moratorium</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">decision of pre-moratorium creditors under section <ref href="#d25e1007">A12</ref> of the Act</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">the pre-moratorium creditors</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">5 days</p></default:td></default:tr></default:tbody></default:table></foreign></tblock></quotedStructure><inline name="appendText">.</inline></mod></p></content></paragraph><paragraph eId="schedule-4-paragraph-65" class="schProv1"><num>65</num><content><p><mod>Rule 5.26 of the Scottish Insolvency Rules (creditors’ voting rights) has effect as if, before paragraph (1), there were inserted—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="rule" ukl:Context="main" ukl:Format="double"><paragraph><num>A1</num><intro><p>A pre-moratorium creditor is entitled to vote in a decision procedure under section <ref href="#d25e1007">A12</ref> of the Act only if—</p></intro><level class="para1"><num>(a)</num><content><p>the creditor has delivered to the convener a statement of claim and documentary evidence of debt, including any calculation for the purposes of rule 5.28 or 5.29,</p></content></level><level class="para1"><num>(b)</num><content><p>the statement of claim and documentary evidence of debt were received by the convener not later than the decision date, or in the case of a meeting, at or before the meeting, and</p></content></level><level class="para1"><num>(c)</num><content><p>the statement of claim and documentary evidence of debt has been admitted for the purposes of entitlement to vote.</p></content></level></paragraph></quotedStructure></mod></p></content></paragraph><paragraph eId="schedule-4-paragraph-66" class="schProv1"><num>66</num><intro><p>Rule 5.28 of the Scottish Insolvency Rules (calculation of voting rights) has effect as if—</p></intro><level class="para1" eId="schedule-4-paragraph-66-a"><num>(a)</num><content><p><mod>before paragraph (1) there were inserted—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="rule" ukl:Context="main" ukl:Format="double"><paragraph><num>A1</num><content><p>In relation to a decision to consent to a revised end date for a moratorium under section <ref href="#d25e1007">A12</ref> of the Act votes are calculated according to the amount of each creditor’s claim at the decision date.</p></content></paragraph></quotedStructure><inline name="appendText">;</inline></mod></p></content></level><level class="para1" eId="schedule-4-paragraph-66-b"><num>(b)</num><content><p><mod>after paragraph (2) there were inserted—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="rule" ukl:Context="main" ukl:Format="double"><paragraph><num>(2A)</num><content><p>But in relation to a decision to consent to a revised end date for a moratorium under section <ref href="#d25e1007">A12</ref> of the Act, a debt of an unliquidated or unascertained amount is to be valued at £1 for the purposes of voting unless the convener or chair or an appointed person decides to put a higher value on it.</p></content></paragraph></quotedStructure><inline name="appendText">;</inline></mod></p></content></level><level class="para1" eId="schedule-4-paragraph-66-c"><num>(c)</num><content><p><mod>in paragraph (6), after sub-paragraph (b) there were inserted—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="rule" ukl:Context="main" ukl:Format="double"><level class="para1"><num>(c)</num><content><p>where the decision relates to whether to consent to a revised end date for a moratorium under section <ref href="#d25e1007">A12</ref> of the Act.</p></content></level></quotedStructure></mod></p></content></level></paragraph><paragraph eId="schedule-4-paragraph-67" class="schProv1"><num>67</num><content><p><mod>Rule 5.29 of the Scottish Insolvency Rules (calculation of voting rights: hire-purchase agreements) has effect as if, before paragraph (1), there were inserted—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="rule" ukl:Context="main" ukl:Format="double"><paragraph><num>A1</num><content><p>In relation to a decision to consent to a revised end date for a moratorium under section <ref href="#d25e1007">A12</ref> of the Act, a pre-moratorium creditor under a hire-purchase agreement is entitled to vote in respect of the amount of the debt due and payable by the company at the decision date.</p></content></paragraph><paragraph><num>B1</num><content><p>In calculating the amount of any debt for the purpose of paragraph (A1), no account is to be taken of any amount attributable to the exercise of any right under the relevant agreement so far as the right has become exercisable solely by virtue of a moratorium for the company coming into force.</p></content></paragraph></quotedStructure></mod></p></content></paragraph><paragraph eId="schedule-4-paragraph-68" class="schProv1"><num>68</num><content><p><mod>Rule 5.31 of the Scottish Insolvency Rules (requisite majorities) has effect as if, before paragraph (1), there were inserted—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="rule" ukl:Context="main" ukl:Format="double"><paragraph><num>A1</num><intro><p>Subject to paragraph (B1), a decision to consent to a revised end date for a moratorium under section <ref href="#d25e1007">A12</ref> of the Act is made if, of those voting—</p></intro><level class="para1"><num>(a)</num><content><p>a majority (in value) of the pre-moratorium creditors who are secured creditors vote in favour of the proposed decision, and</p></content></level><level class="para1"><num>(b)</num><content><p>a majority (in value) of the pre-moratorium creditors who are unsecured creditors vote in favour of the proposed decision.</p></content></level></paragraph><paragraph><num>B1</num><intro><p>But a decision to consent to a revised end date for a moratorium under section <ref href="#d25e1007">A12</ref> of the Act is not made if, of those voting either—</p></intro><level class="para1"><num>(a)</num><content><p>a majority of the pre-moratorium creditors who are unconnected secured creditors vote against the proposed end date, or</p></content></level><level class="para1"><num>(b)</num><content><p>a majority of the pre-moratorium creditors who are unconnected unsecured creditors vote against the proposed end date.</p></content></level></paragraph><paragraph><num>C1</num><intro><p>For the purposes of paragraph (B1)—</p></intro><level class="para1"><num>(a)</num><content><p>a creditor is unconnected unless the convener or chair decides that the creditor is connected, and</p></content></level><level class="para1"><num>(b)</num><content><p>the total value of the unconnected creditors is the total value of those unconnected creditors whose claims have been admitted for voting.</p></content></level></paragraph></quotedStructure></mod></p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Content of application to the court for extension of moratorium</heading><paragraph eId="schedule-4-paragraph-69" class="schProv1"><num>69</num><subparagraph eId="schedule-4-paragraph-69-1"><num>(1)</num><intro><p>An application by the directors of a company for the extension of a moratorium under section <ref href="#d25e1090">A13</ref> of the Insolvency Act 1986 must state—</p></intro><level class="para1" eId="schedule-4-paragraph-69-1-a"><num>(a)</num><content><p>that it is made under that section,</p></content></level><level class="para1" eId="schedule-4-paragraph-69-1-b"><num>(b)</num><content><p>the length of the extension sought,</p></content></level><level class="para1" eId="schedule-4-paragraph-69-1-c"><num>(c)</num><content><p>identification details for the company to which the application relates,</p></content></level><level class="para1" eId="schedule-4-paragraph-69-1-d"><num>(d)</num><content><p>the company’s address for service, and</p></content></level><level class="para1" eId="schedule-4-paragraph-69-1-e"><num>(e)</num><content><p>the court in which the application is made.</p></content></level></subparagraph><subparagraph eId="schedule-4-paragraph-69-2"><num>(2)</num><content><p>The application must be authenticated by or on behalf of the directors.</p></content></subparagraph><subparagraph eId="schedule-4-paragraph-69-3"><num>(3)</num><content><p>Rule 1.6 of the Scottish Insolvency Rules applies for the purposes of authentication under sub-paragraph <ref href="#schedule-4-paragraph-29-2">(2)</ref>.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Timing of statements accompanying application to court for extension of moratorium</heading><paragraph eId="schedule-4-paragraph-70" class="schProv1"><num>70</num><content><p>A statement under section <ref href="#d25e1090">A13</ref><ref href="#d25e1100">(2)</ref> must be made within the period of 3 days ending with the day on which the application under that section is made.</p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Notices about change in end of moratorium</heading><paragraph eId="schedule-4-paragraph-71" class="schProv1"><num>71</num><subparagraph eId="schedule-4-paragraph-71-1"><num>(1)</num><content><p>A notice under section <ref href="#d25e1464">A17</ref><ref href="#d25e1468">(1)</ref> of the Insolvency Act 1986 must be given within the period of 5 days beginning with the day on which the duty to give the notice arises.</p></content></subparagraph><subparagraph eId="schedule-4-paragraph-71-2"><num>(2)</num><intro><p>The notice must state—</p></intro><level class="para1" eId="schedule-4-paragraph-71-2-a"><num>(a)</num><content><p>the name of the company to which it relates, and</p></content></level><level class="para1" eId="schedule-4-paragraph-71-2-b"><num>(b)</num><content><p>the provision by virtue of which the moratorium was extended or came to an end.</p></content></level></subparagraph></paragraph><paragraph eId="schedule-4-paragraph-72" class="schProv1"><num>72</num><subparagraph eId="schedule-4-paragraph-72-1"><num>(1)</num><content><p>A notice under section <ref href="#d25e1464">A17</ref><ref href="#d25e1610">(2)</ref> or <ref href="#d25e1627">(3)</ref> of the Insolvency Act 1986 must be given within the period of 5 days beginning with the day on which the duty to give the notice arises.</p></content></subparagraph><subparagraph eId="schedule-4-paragraph-72-2"><num>(2)</num><intro><p>The notice must state—</p></intro><level class="para1" eId="schedule-4-paragraph-72-2-a"><num>(a)</num><content><p>the provision under which it is given,</p></content></level><level class="para1" eId="schedule-4-paragraph-72-2-b"><num>(b)</num><content><p>the nature of the notice,</p></content></level><level class="para1" eId="schedule-4-paragraph-72-2-c"><num>(c)</num><content><p>the date of the notice,</p></content></level><level class="para1" eId="schedule-4-paragraph-72-2-d"><num>(d)</num><content><p>that it is given by the monitor acting in that capacity,</p></content></level><level class="para1" eId="schedule-4-paragraph-72-2-e"><num>(e)</num><content><p>the name and contact details of the monitor, and</p></content></level><level class="para1" eId="schedule-4-paragraph-72-2-f"><num>(f)</num><content><p>the identification details for the company to which it relates.</p></content></level></subparagraph><subparagraph eId="schedule-4-paragraph-72-3"><num>(3)</num><content><p>A notice under section <ref href="#d25e1464">A17</ref><ref href="#d25e1610">(2)</ref> or <ref href="#d25e1627">(3)</ref> of the Insolvency Act 1986 that is given to the registrar of companies must be authenticated by or on behalf of the monitor.</p></content></subparagraph><subparagraph eId="schedule-4-paragraph-72-4"><num>(4)</num><content><p>Rule 1.6 of the Scottish Insolvency Rules applies for the purposes of authentication under sub-paragraph <ref href="#schedule-4-paragraph-32-3">(3)</ref>.</p></content></subparagraph></paragraph><paragraph eId="schedule-4-paragraph-73" class="schProv1"><num>73</num><intro><p>Where a moratorium comes to an end under section <ref href="#d25e1400">A16</ref> of the Insolvency Act 1986 because the company has entered into a relevant insolvency procedure within the meaning of that section, the notices under section <ref href="#d25e1464">A17</ref><ref href="#d25e1468">(1)</ref> and <ref href="#d25e1610">(2)</ref> must state—</p></intro><level class="para1" eId="schedule-4-paragraph-73-a"><num>(a)</num><content><p>the date on which the company entered into the relevant insolvency procedure, and</p></content></level><level class="para1" eId="schedule-4-paragraph-73-b"><num>(b)</num><content><p>the name and contact details of the supervisor of the voluntary arrangement, the administrator or the liquidator.</p></content></level></paragraph><paragraph eId="schedule-4-paragraph-74" class="schProv1"><num>74</num><subparagraph eId="schedule-4-paragraph-74-1"><num>(1)</num><content><p>A notice under section <ref href="#d25e1464">A17</ref><ref href="#d25e1633">(4)</ref> of the Insolvency Act 1986 must be given within the period of 3 business days beginning with the day on which the notice under section <ref href="#d25e3388">A38</ref>(1) is lodged in the court.</p></content></subparagraph><subparagraph eId="schedule-4-paragraph-74-2"><num>(2)</num><content><p>The notice under section <ref href="#d25e1464">A17</ref><ref href="#d25e1633">(4)</ref> of that Act must be accompanied by the notice that the monitor has lodged in the court under section <ref href="#d25e3388">A38</ref>(1) of that Act.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Notification by directors of insolvency proceedings etc</heading><paragraph eId="schedule-4-paragraph-75" class="schProv1"><num>75</num><subparagraph eId="schedule-4-paragraph-75-1"><num>(1)</num><content><p>A notice under section <ref href="#d25e2457">A24</ref><ref href="#d25e2525">(1)</ref> of the Insolvency Act 1986 must be given before the period of 3 days ending with the day on which the step mentioned there is taken.</p></content></subparagraph><subparagraph eId="schedule-4-paragraph-75-2"><num>(2)</num><content><p>A notice under section <ref href="#d25e2457">A24</ref><ref href="#d25e2485">(2)</ref> of the Insolvency Act 1986 must be given within the period of 3 days beginning with the day on which the duty to give the notice arises.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Notice of termination of moratorium</heading><paragraph eId="schedule-4-paragraph-76" class="schProv1"><num>76</num><subparagraph eId="schedule-4-paragraph-76-1"><num>(1)</num><content><p>A notice under section <ref href="#d25e3388">A38</ref>(1) of the Insolvency Act 1986 must be lodged in the court as soon as practicable after the duty in that subsection arises.</p></content></subparagraph><subparagraph eId="schedule-4-paragraph-76-2"><num>(2)</num><intro><p>The notice must state—</p></intro><level class="para1" eId="schedule-4-paragraph-76-2-a"><num>(a)</num><content><p>the provision under which it is given,</p></content></level><level class="para1" eId="schedule-4-paragraph-76-2-b"><num>(b)</num><content><p>the nature of the notice,</p></content></level><level class="para1" eId="schedule-4-paragraph-76-2-c"><num>(c)</num><content><p>the date of the notice,</p></content></level><level class="para1" eId="schedule-4-paragraph-76-2-d"><num>(d)</num><content><p>the name and contact details of the monitor,</p></content></level><level class="para1" eId="schedule-4-paragraph-76-2-e"><num>(e)</num><content><p>the identification details for the company to which it relates,</p></content></level><level class="para1" eId="schedule-4-paragraph-76-2-f"><num>(f)</num><content><p>the grounds on which the moratorium is being terminated,</p></content></level><level class="para1" eId="schedule-4-paragraph-76-2-g"><num>(g)</num><content><p>the monitor’s reasons for concluding that those grounds are made out,</p></content></level><level class="para1" eId="schedule-4-paragraph-76-2-h"><num>(h)</num><content><p>the date on which the monitor concluded that those grounds were made out, and</p></content></level><level class="para1" eId="schedule-4-paragraph-76-2-i"><num>(i)</num><content><p>the court in which the notice is to be lodged.</p></content></level></subparagraph><subparagraph eId="schedule-4-paragraph-76-3"><num>(3)</num><content><p>The notice must be authenticated by or on behalf of the monitor.</p></content></subparagraph><subparagraph eId="schedule-4-paragraph-76-4"><num>(4)</num><content><p>Rule 1.6 of the Scottish Insolvency Rules applies for the purposes of authentication under sub-paragraph <ref href="#schedule-4-paragraph-32-3">(3)</ref>.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Termination of moratorium under section <ref href="#d25e3388">A38</ref><ref href="#d25e3419">(1)(d)</ref> of the Insolvency Act 1986</heading><paragraph eId="schedule-4-paragraph-77" class="schProv1"><num>77</num><intro><p>For the purposes of deciding whether to bring a moratorium to an end under section <ref href="#d25e3388">A38</ref><ref href="#d25e3419">(1)(d)</ref> of the Insolvency Act 1986 the monitor must disregard—</p></intro><level class="para1" eId="schedule-4-paragraph-77-a"><num>(a)</num><content><p>any debts that the monitor has reasonable grounds for thinking are likely to be paid within 5 days of the decision, and</p></content></level><level class="para1" eId="schedule-4-paragraph-77-b"><num>(b)</num><content><p>any debts in respect of which the creditor has agreed to defer payment until a time that is later than the decision.</p></content></level></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Replacement of monitor or additional monitor: statement and consent to act</heading><paragraph eId="schedule-4-paragraph-78" class="schProv1"><num>78</num><subparagraph eId="schedule-4-paragraph-78-1"><num>(1)</num><intro><p>A statement under section <ref href="#d25e3488">A39</ref><ref href="#d25e3516">(4)</ref> of the Insolvency Act 1986 must be headed “Proposed monitor’s statement and consent to act” and must contain the following—</p></intro><level class="para1" eId="schedule-4-paragraph-78-1-a"><num>(a)</num><content><p>a certificate that the proposed monitor is qualified to act as an insolvency practitioner in relation to the company,</p></content></level><level class="para1" eId="schedule-4-paragraph-78-1-b"><num>(b)</num><content><p>the proposed monitor’s IP number,</p></content></level><level class="para1" eId="schedule-4-paragraph-78-1-c"><num>(c)</num><content><p>the name of the relevant recognised professional body which is the source of the proposed monitor’s authorisation to act in relation to the company, and</p></content></level><level class="para1" eId="schedule-4-paragraph-78-1-d"><num>(d)</num><content><p>a statement that the proposed monitor consents to act as monitor in relation to the company.</p></content></level></subparagraph><subparagraph eId="schedule-4-paragraph-78-2"><num>(2)</num><content><p>The statement must be made within the period of 5 days ending with the day on which it is lodged in the court.</p></content></subparagraph><subparagraph eId="schedule-4-paragraph-78-3"><num>(3)</num><content><p>In this paragraph “IP number” means the number assigned to an office-holder as an insolvency practitioner by the Secretary of State.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Replacement of monitor or additional monitor: notification</heading><paragraph eId="schedule-4-paragraph-79" class="schProv1"><num>79</num><subparagraph eId="schedule-4-paragraph-79-1"><num>(1)</num><intro><p>A notice under section <ref href="#d25e3488">A39</ref><ref href="#d25e3579">(8)</ref> of the Insolvency Act 1986 must state—</p></intro><level class="para1" eId="schedule-4-paragraph-79-1-a"><num>(a)</num><content><p>the provision under which it is given,</p></content></level><level class="para1" eId="schedule-4-paragraph-79-1-b"><num>(b)</num><content><p>the nature of the notice,</p></content></level><level class="para1" eId="schedule-4-paragraph-79-1-c"><num>(c)</num><content><p>the date of the notice,</p></content></level><level class="para1" eId="schedule-4-paragraph-79-1-d"><num>(d)</num><content><p>the identification details for the company to which it relates,</p></content></level><level class="para1" eId="schedule-4-paragraph-79-1-e"><num>(e)</num><content><p>that it is given by the monitor acting in that capacity, and</p></content></level><level class="para1" eId="schedule-4-paragraph-79-1-f"><num>(f)</num><content><p>the name and contact details of the monitor.</p></content></level></subparagraph><subparagraph eId="schedule-4-paragraph-79-2"><num>(2)</num><content><p>The notice must be authenticated by the monitor.</p></content></subparagraph><subparagraph eId="schedule-4-paragraph-79-3"><num>(3)</num><content><p>Rule 1.6 of the Scottish Insolvency Rules applies for the purposes of authentication under sub-paragraph <ref href="#schedule-4-paragraph-79-2">(2)</ref>.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Challenge to monitor’s remuneration</heading><paragraph eId="schedule-4-paragraph-80" class="schProv1"><num>80</num><subparagraph eId="schedule-4-paragraph-80-1"><num>(1)</num><content><p>An administrator or liquidator of a company may apply to the court on the ground that remuneration charged by the monitor in relation to a prior moratorium for the company under Part A1 of the Insolvency Act 1986 was excessive.</p></content></subparagraph><subparagraph eId="schedule-4-paragraph-80-2"><num>(2)</num><content><p>An application under this paragraph may not be made after the end of the period of 2 years beginning with the day after the moratorium ends.</p></content></subparagraph><subparagraph eId="schedule-4-paragraph-80-3"><num>(3)</num><intro><p>On an application under this paragraph the court may—</p></intro><level class="para1" eId="schedule-4-paragraph-80-3-a"><num>(a)</num><content><p>dismiss the application,</p></content></level><level class="para1" eId="schedule-4-paragraph-80-3-b"><num>(b)</num><content><p>order the monitor to repay some or all of the remuneration, or</p></content></level><level class="para1" eId="schedule-4-paragraph-80-3-c"><num>(c)</num><content><p>make such other order as it thinks fit.</p></content></level></subparagraph><subparagraph eId="schedule-4-paragraph-80-4"><num>(4)</num><content><p>The expenses of an application under this paragraph are, unless the court orders otherwise, to be paid as an expense of the administration or liquidation.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Challenge to directors’ actions: qualifying decision procedure</heading><paragraph eId="schedule-4-paragraph-81" class="schProv1"><num>81</num><intro><p>Where the court makes an order by virtue of section A44(4)(c) of the Insolvency Act 1986 requiring a decision of a company’s creditors, the following provisions of the Scottish Insolvency Rules apply for the purposes of that decision to the extent set out in the court’s order and subject to any modifications set out in the court’s order—</p></intro><level class="para1" eId="schedule-4-paragraph-81-a"><num>(a)</num><content><p>Part 5 (decision making);</p></content></level><level class="para1" eId="schedule-4-paragraph-81-b"><num>(b)</num><content><p>Part 6 (proxies).</p></content></level></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Priority of moratorium debts etc in subsequent winding up</heading><paragraph eId="schedule-4-paragraph-82" class="schProv1"><num>82</num><subparagraph eId="schedule-4-paragraph-82-1"><num>(1)</num><intro><p>Where section 174A of the Insolvency Act 1986 applies, the moratorium debts and pre-moratorium debts mentioned in subsection (2)(b) of that section are payable in the following order of priority—</p></intro><level class="para1" eId="schedule-4-paragraph-82-1-a"><num>(a)</num><content><p>amounts payable in respect of goods or services supplied during the moratorium under a contract where, but for section 233B(3) or (4) of that Act, the supplier would not have had to make that supply;</p></content></level><level class="para1" eId="schedule-4-paragraph-82-1-b"><num>(b)</num><content><p>wages or salary arising under a contract of employment;</p></content></level><level class="para1" eId="schedule-4-paragraph-82-1-c"><num>(c)</num><content><p>other debts or other liabilities apart from the monitor’s remuneration or expenses;</p></content></level><level class="para1" eId="schedule-4-paragraph-82-1-d"><num>(d)</num><content><p>the monitor’s remuneration or expenses.</p></content></level></subparagraph><subparagraph eId="schedule-4-paragraph-82-2"><num>(2)</num><content><p>In this paragraph “wages or salary” has the same meaning as in section <ref href="#d25e1722">A18</ref> of the Insolvency Act 1986.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Priority of moratorium debts etc in subsequent administration</heading><paragraph eId="schedule-4-paragraph-83" class="schProv1"><num>83</num><subparagraph eId="schedule-4-paragraph-83-1"><num>(1)</num><intro><p>Where paragraph 64A(1) of Schedule B1 to the Insolvency Act 1986 applies, the moratorium debts and pre-moratorium debts mentioned in paragraph 64A(2) of that Schedule are payable in the following order of priority—</p></intro><level class="para1" eId="schedule-4-paragraph-83-1-a"><num>(a)</num><content><p>amounts payable in respect of goods or services supplied during the moratorium under a contract where, but for section 233B(3) or (4) of that Act, the supplier would not have had to make that supply;</p></content></level><level class="para1" eId="schedule-4-paragraph-83-1-b"><num>(b)</num><content><p>wages or salary arising under a contract of employment;</p></content></level><level class="para1" eId="schedule-4-paragraph-83-1-c"><num>(c)</num><content><p>other debts or other liabilities apart from the monitor’s remuneration or expenses;</p></content></level><level class="para1" eId="schedule-4-paragraph-83-1-d"><num>(d)</num><content><p>the monitor’s remuneration or expenses.</p></content></level></subparagraph><subparagraph eId="schedule-4-paragraph-83-2"><num>(2)</num><content><p>In this paragraph “wages or salary” has the same meaning as in section <ref href="#d25e1722">A18</ref> of the Insolvency Act 1986.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Prescribed format of documents</heading><paragraph eId="schedule-4-paragraph-84" class="schProv1"><num>84</num><content><p>Rule 1.5 of the Scottish Insolvency Rules (requirement for writing and form of documents) applies for the purposes of Part A1 of the Insolvency Act 1986.</p></content></paragraph><paragraph eId="schedule-4-paragraph-85" class="schProv1"><num>85</num><subparagraph eId="schedule-4-paragraph-85-1"><num>(1)</num><content><p>The following provisions of the Scottish Insolvency Rules apply, so far as relevant, to any requirement imposed by a provision of this Part of this Schedule—</p><blockList class="unordered none" ukl:Name="UnorderedList" ukl:Decoration="none"><item><p>rule 1.9 (prescribed format of documents), and</p></item><item><p>rule 1.10 (variations from prescribed contents).</p></item></blockList></content></subparagraph><subparagraph eId="schedule-4-paragraph-85-2"><num>(2)</num><content><p>In their application by virtue of sub-paragraph (1), a reference in rule 1.9 or 1.10 to the requirements of a rule is to be read as a reference to the requirements of the provision of this Part of this Schedule.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Delivery of documents</heading><paragraph eId="schedule-4-paragraph-86" class="schProv1"><num>86</num><content><p>The following provisions of Chapter 9 of Part 1 of the Scottish Insolvency Rules apply for the purposes of proceedings under Part A1 of the Insolvency Act 1986 as if rule 1.32(1) included a reference to such proceedings—</p><blockList class="unordered none" ukl:Name="UnorderedList" ukl:Decoration="none"><item><p>rule 1.32(2) to (3) (delivery to registrar of companies);</p></item><item><p>rule 1.36 (delivery of documents to authorised recipients);</p></item><item><p>rule 1.37 (delivery of documents to joint office-holders);</p></item><item><p>rule 1.38 (postal delivery of documents);</p></item><item><p>rule 1.39 (delivery by document exchange);</p></item><item><p>rule 1.40 (personal delivery of documents);</p></item><item><p>rule 1.41 (electronic delivery of documents).</p></item></blockList></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Identification details for a company</heading><paragraph eId="schedule-4-paragraph-87" class="schProv1"><num>87</num><subparagraph eId="schedule-4-paragraph-87-1"><num>(1)</num><intro><p>Where a provision of this Part of this Schedule requires a document to contain identification details for a company that is registered under the Companies Act 2006 in Scotland, the following information must be given—</p></intro><level class="para1" eId="schedule-4-paragraph-87-1-a"><num>(a)</num><content><p>the company’s registered name;</p></content></level><level class="para1" eId="schedule-4-paragraph-87-1-b"><num>(b)</num><content><p>its registered number;</p></content></level></subparagraph><subparagraph eId="schedule-4-paragraph-87-2"><num>(2)</num><intro><p>Where a provision of this Part of this Schedule requires a document to contain identification details for a company that has registered particulars under section 1046(1) of the Companies Act 2006 (registered overseas companies), the following information must be given—</p></intro><level class="para1" eId="schedule-4-paragraph-87-2-a"><num>(a)</num><content><p>the name registered by the company under section 1047 of that Act,</p></content></level><level class="para1" eId="schedule-4-paragraph-87-2-b"><num>(b)</num><content><p>the number under which it is registered, and</p></content></level><level class="para1" eId="schedule-4-paragraph-87-2-c"><num>(c)</num><content><p>the country or territory in which it is incorporated.</p></content></level></subparagraph><subparagraph eId="schedule-4-paragraph-87-3"><num>(3)</num><intro><p>Where a provision of this Part of this Schedule requires a document to contain identification details for an unregistered company that does not come within sub-paragraph (2) the following information must be given—</p></intro><level class="para1" eId="schedule-4-paragraph-87-3-a"><num>(a)</num><content><p>the company’s name, and</p></content></level><level class="para1" eId="schedule-4-paragraph-87-3-b"><num>(b)</num><content><p>the postal address of any principal place of business.</p></content></level></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Contact details of a monitor or other office-holder</heading><paragraph eId="schedule-4-paragraph-88" class="schProv1"><num>88</num><intro><p>Where a provision of this Part of this Schedule requires a document to contain contact details of a monitor or other office-holder, the following information must be given—</p></intro><level class="para1" eId="schedule-4-paragraph-88-a"><num>(a)</num><content><p>a postal address for the monitor or office-holder, and</p></content></level><level class="para1" eId="schedule-4-paragraph-88-b"><num>(b)</num><content><p>either an email address, or a telephone number, through which the monitor may be contacted.</p></content></level></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>“The Scottish Insolvency Rules”</heading><paragraph eId="schedule-4-paragraph-89" class="schProv1"><num>89</num><content><p>In this Part of this Schedule “the Scottish Insolvency Rules” means the Insolvency (Scotland) (Company Voluntary Arrangements and Administration) Rules 2018 (<ref eId="c00074" href="http://www.legislation.gov.uk/id/uksi/2018/1082">S.I. 2018/1082</ref>).</p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Interpretation: general</heading><paragraph eId="schedule-4-paragraph-90" class="schProv1"><num>90</num><content><p>Expressions used in this Part of this Schedule are to be construed as if this Part of this Schedule were contained in Part A1 of the Insolvency Act 1986.</p></content></paragraph></hcontainer></part><part eId="schedule-4-part-5"><num>PART 5</num><heading>Entities other than companies</heading><paragraph eId="schedule-4-paragraph-91" class="schProv1"><num>91</num><content><p>Regulations under section 14(1) of the Limited Liability Partnership Act 2000 may make provision applying or incorporating provision made by or under this Schedule, with such modifications as appear appropriate, in relation to a limited liability partnership registered in Great Britain.</p></content></paragraph><paragraph eId="schedule-4-paragraph-92" class="schProv1"><num>92</num><content><p>An order or regulations under section 118(1)(a), (3B) or (3C) of the Co-operative and Community Benefit Societies Act 2014 may provide for provision made by or under this Schedule to apply (with or without modifications) in relation to registered societies (or to registered societies of the kind mentioned there).</p></content></paragraph></part></hcontainer>
<part xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-4-part-1"><num>PART 1</num><heading>“Relevant period” and powers to turn off temporary provision</heading><hcontainer name="crossheading" class="schGroup7"><heading>“Relevant period”</heading><paragraph eId="schedule-4-paragraph-1" class="schProv1"><num>1</num><intro><p>In this Schedule “relevant period” means the period which—</p></intro><level class="para1" eId="schedule-4-paragraph-1-a"><num>(a)</num><content><p>begins with the day on which this Schedule comes into force, and</p></content></level><level class="para1" eId="schedule-4-paragraph-1-b"><num>(b)</num><content><p>ends with 30 September 2020.</p></content></level></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Power to turn off particular provisions of Part 2 of this Schedule early</heading><paragraph eId="schedule-4-paragraph-2" class="schProv1"><num>2</num><subparagraph eId="schedule-4-paragraph-2-1"><num>(1)</num><content><p>The Secretary of State may by regulations made by statutory instrument provide for any provision made by Part 2 of this Schedule to cease to have effect before the end of the relevant period.</p></content></subparagraph><subparagraph eId="schedule-4-paragraph-2-2"><num>(2)</num><content><p>The regulations may include transitional provision or savings.</p></content></subparagraph><subparagraph eId="schedule-4-paragraph-2-3"><num>(3)</num><content><p>A statutory instrument containing regulations under sub-paragraph <ref href="#schedule-4-paragraph-2-1">(1)</ref> is subject to annulment in pursuance of a resolution of either House of Parliament.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Power to turn off provisions of Parts 3 and 4 of this Schedule early etc</heading><paragraph eId="schedule-4-paragraph-3" class="schProv1"><num>3</num><content><p>Rules under section 411 of the Insolvency Act 1986 may provide for any provision made by paragraphs <ref href="#schedule-4-paragraph-13">13</ref> to <ref href="#schedule-4-paragraph-51">51</ref> or <ref href="#schedule-4-paragraph-53">53</ref> to <ref href="#schedule-4-paragraph-90">90</ref> to cease to have effect before the end of the relevant period.</p></content></paragraph><paragraph eId="schedule-4-paragraph-4" class="schProv1"><num>4</num><content><p>Rules under section 411 of the Insolvency Act 1986 may make transitional provision or savings in connection with any provision made by paragraphs <ref href="#schedule-4-paragraph-13">13</ref> to <ref href="#schedule-4-paragraph-51">51</ref> or <ref href="#schedule-4-paragraph-53">53</ref> to <ref href="#schedule-4-paragraph-90">90</ref> ceasing to have effect (whether by virtue of paragraph <ref href="#schedule-4-paragraph-3">3</ref> or <ref href="#schedule-4-paragraph-12">12</ref>).</p></content></paragraph></hcontainer></part>
<part xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" eId="schedule-4-part-2"><num>PART 2</num><heading>Modifications to primary legislation</heading><hcontainer name="crossheading" class="schGroup7"><heading>“Eligible” company: additional exclusion</heading><paragraph eId="schedule-4-paragraph-5" class="schProv1"><num>5</num><intro><p>During the relevant period, a company is not eligible for the purposes of section <ref href="#d25e268">A3</ref>, <ref href="#d25e320">A4</ref> or <ref href="#d25e375">A5</ref> of the Insolvency Act 1986 if the company—</p></intro><level class="para1" eId="schedule-4-paragraph-5-a"><num>(a)</num><content><p>has permission under Part 4A of the Financial Services and Markets Act 2000 to carry on a regulated activity within the meaning of that Act, and</p></content></level><level class="para1" eId="schedule-4-paragraph-5-b"><num>(b)</num><content><p>is not subject to a requirement imposed under that Act to refrain from holding money for clients.</p></content></level></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Relaxation of conditions for obtaining moratorium etc</heading><paragraph eId="schedule-4-paragraph-6" class="schProv1"><num>6</num><subparagraph eId="schedule-4-paragraph-6-1"><num>(1)</num><intro><p>For the purposes of obtaining a moratorium under section <ref href="#d25e268">A3</ref> of the Insolvency Act 1986 during the relevant period—</p></intro><level class="para1" eId="schedule-4-paragraph-6-1-a"><num>(a)</num><content><p>section <ref href="#d25e268">A3</ref> of that Act has effect as if subsection <ref href="#d25e278">(1)(a)</ref> were omitted;</p></content></level><level class="para1" eId="schedule-4-paragraph-6-1-b"><num>(b)</num><content><p>section <ref href="#d25e433">A6</ref><ref href="#d25e479">(1)(e)</ref> 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”;</p></content></level><level class="para1" eId="schedule-4-paragraph-6-1-c"><num>(c)</num><content><p>Schedule ZA1 to that Act has effect as if paragraph <ref href="#d25e15499">2(1)(b)</ref> and <ref href="#d25e15522">(2)(b)</ref> were omitted.</p></content></level></subparagraph><subparagraph eId="schedule-4-paragraph-6-2"><num>(2)</num><content><p>During the relevant period, only an overseas company may obtain a moratorium under section <ref href="#d25e320">A4</ref> of the Insolvency Act 1986.</p></content></subparagraph></paragraph><paragraph eId="schedule-4-paragraph-7" class="schProv1"><num>7</num><intro><p>In relation to an application for a moratorium made under section <ref href="#d25e320">A4</ref> or <ref href="#d25e375">A5</ref> of the Insolvency Act 1986 during the relevant period—</p></intro><level class="para1" eId="schedule-4-paragraph-7-a"><num>(a)</num><content><p>section <ref href="#d25e433">A6</ref><ref href="#d25e479">(1)(e)</ref> 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”;</p></content></level><level class="para1" eId="schedule-4-paragraph-7-b"><num>(b)</num><content><p>Schedule ZA1 to that Act has effect as if paragraph <ref href="#d25e15499">2(1)(b)</ref> and <ref href="#d25e15522">(2)(b)</ref> were omitted.</p></content></level></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Relaxation of conditions for extending moratorium obtained during relevant period</heading><paragraph eId="schedule-4-paragraph-8" class="schProv1"><num>8</num><subparagraph eId="schedule-4-paragraph-8-1"><num>(1)</num><content><p>This paragraph applies in relation to a moratorium that comes into force during the relevant period.</p></content></subparagraph><subparagraph eId="schedule-4-paragraph-8-2"><num>(2)</num><content><p>For the purposes of extending the moratorium under section <ref href="#d25e841">A10</ref> or <ref href="#d25e920">A11</ref> of the Insolvency Act 1986, subsection <ref href="#d25e884">(1)(d)</ref> of that section 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”.</p></content></subparagraph><subparagraph eId="schedule-4-paragraph-8-3"><num>(3)</num><content><p>In relation to an application under section <ref href="#d25e1090">A13</ref> of the Insolvency Act 1986 that the moratorium be extended, subsection <ref href="#d25e1147">(2)(d)</ref> of that section 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”.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Monitoring of moratorium obtained during relevant period</heading><paragraph eId="schedule-4-paragraph-9" class="schProv1"><num>9</num><content><p><mod>In relation to a moratorium that comes into force during the relevant period, section <ref href="#d25e3329">A35</ref><ref href="#d25e3333">(1)</ref> of the Insolvency Act 1986 has effect as if for the words from “it remains likely” to the end there were substituted <quotedText startQuote="“">—</quotedText><quotedStructure endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="double"><level class="para1"><num>(a)</num><content><p>it is likely that the moratorium will result in the rescue of the company as a going concern, or</p></content></level><level class="para1"><num>(b)</num><content><p>that, if one were to disregard any worsening of the financial position of the company for reasons relating to coronavirus, it is likely that the moratorium would result in the rescue of the company as a going concern.</p></content></level></quotedStructure></mod></p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Termination of moratorium obtained during relevant period</heading><paragraph eId="schedule-4-paragraph-10" class="schProv1"><num>10</num><content><p><mod>In relation to a moratorium that comes into force during the relevant period, section <ref href="#d25e3388">A38</ref>(1) of the Insolvency Act 1986 has effect as if for paragraph (a) there were substituted—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="double"><level class="para1"><num>(a)</num><intro><p>the monitor thinks—</p></intro><level class="para2"><num>(i)</num><content><p>that the moratorium is not likely to result in the rescue of the company as a going concern, and</p></content></level><level class="para2"><num>(ii)</num><content><p>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,</p></content></level></level></quotedStructure><inline name="appendText">.</inline></mod></p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>“Coronavirus”</heading><paragraph eId="schedule-4-paragraph-11" class="schProv1"><num>11</num><content><p>In the modifications made by this Part of this Schedule “coronavirus” means severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2).</p></content></paragraph></hcontainer></part>
<part xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" xmlns:default="http://www.w3.org/1999/xhtml" xmlns:fo="http://www.w3.org/1999/XSL/Format" eId="schedule-4-part-3"><num>PART 3</num><heading>Temporary rules: England and Wales</heading><hcontainer name="crossheading" class="schGroup7"><heading>Introductory</heading><paragraph eId="schedule-4-paragraph-12" class="schProv1"><num>12</num><content><p>Paragraphs <ref href="#schedule-4-paragraph-13">13</ref> to <ref href="#schedule-4-paragraph-51">51</ref> cease to have effect at the end of the relevant period, subject to paragraph <ref href="#schedule-4-paragraph-3">3</ref>.</p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Definition of “the court”</heading><paragraph eId="schedule-4-paragraph-13" class="schProv1"><num>13</num><content><p><mod>Section <ref href="#d25e5168">A54</ref><ref href="#d25e5172">(1)</ref> of the Insolvency Act 1986 has effect as if for the definition of “the court” there were substituted—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="double"><hcontainer name="definition"><content><p>“the court”, in relation to a company, means a court having jurisdiction to wind up the company;</p></content></hcontainer></quotedStructure><inline name="appendText">.</inline></mod></p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Content of documents relating to the obtaining or extending of a moratorium: general</heading><paragraph eId="schedule-4-paragraph-14" class="schProv1"><num>14</num><intro><p>A notice or statement under section <ref href="#d25e433">A6</ref><ref href="#d25e437">(1)</ref>, <ref href="#d25e618">A8</ref><ref href="#d25e628">(2)</ref>, <ref href="#d25e841">A10</ref><ref href="#d25e845">(1)</ref>, <ref href="#d25e920">A11</ref><ref href="#d25e924">(1)</ref> or <ref href="#d25e1090">A13</ref><ref href="#d25e1100">(2)</ref> of the Insolvency Act 1986 must state—</p></intro><level class="para1" eId="schedule-4-paragraph-14-a"><num>(a)</num><content><p>the provision under which it is given or made,</p></content></level><level class="para1" eId="schedule-4-paragraph-14-b"><num>(b)</num><content><p>the nature of the notice or statement,</p></content></level><level class="para1" eId="schedule-4-paragraph-14-c"><num>(c)</num><content><p>the date of the notice or statement, and</p></content></level><level class="para1" eId="schedule-4-paragraph-14-d"><num>(d)</num><content><p>the identification details for the company to which it relates.</p></content></level></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Authentication of documents relating to obtaining or extending moratorium: general</heading><paragraph eId="schedule-4-paragraph-15" class="schProv1"><num>15</num><subparagraph eId="schedule-4-paragraph-15-1"><num>(1)</num><content><p>A notice or statement under section <ref href="#d25e433">A6</ref><ref href="#d25e437">(1)</ref>, <ref href="#d25e841">A10</ref><ref href="#d25e845">(1)</ref>, <ref href="#d25e920">A11</ref><ref href="#d25e924">(1)</ref> or <ref href="#d25e1090">A13</ref><ref href="#d25e1100">(2)</ref> of the Insolvency Act 1986 must be authenticated by or on behalf of the person giving the notice or making the statement.</p></content></subparagraph><subparagraph eId="schedule-4-paragraph-15-2"><num>(2)</num><content><p>A notice under section <ref href="#d25e618">A8</ref><ref href="#d25e637">(2)(a)</ref> of the Insolvency Act 1986 must be authenticated by the monitor.</p></content></subparagraph><subparagraph eId="schedule-4-paragraph-15-3"><num>(3)</num><content><p>Rule 1.5 of the England and Wales Insolvency Rules applies for the purposes of authentication under this paragraph.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Notice that directors wish to obtain a moratorium</heading><paragraph eId="schedule-4-paragraph-16" class="schProv1"><num>16</num><intro><p>A notice under section <ref href="#d25e433">A6</ref><ref href="#d25e443">(1)(a)</ref> of the Insolvency Act 1986 must state—</p></intro><level class="para1" eId="schedule-4-paragraph-16-a"><num>(a)</num><content><p>the company’s address for service, and</p></content></level><level class="para1" eId="schedule-4-paragraph-16-b"><num>(b)</num><content><p>the court (and where applicable, the division or district registry of that court) or hearing centre in which the documents are to be filed under section <ref href="#d25e268">A3</ref> or the application under section <ref href="#d25e320">A4</ref> or <ref href="#d25e375">A5</ref> is to be made.</p></content></level></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Proposed monitor’s statement and consent to act</heading><paragraph eId="schedule-4-paragraph-17" class="schProv1"><num>17</num><subparagraph eId="schedule-4-paragraph-17-1"><num>(1)</num><intro><p>A statement under section <ref href="#d25e433">A6</ref><ref href="#d25e449">(1)(b)</ref> of the Insolvency Act 1986 must be headed “Proposed monitor’s statement and consent to act” and must contain the following—</p></intro><level class="para1" eId="schedule-4-paragraph-17-1-a"><num>(a)</num><content><p>a certificate that the proposed monitor is qualified to act as an insolvency practitioner in relation to the company,</p></content></level><level class="para1" eId="schedule-4-paragraph-17-1-b"><num>(b)</num><content><p>the proposed monitor’s IP number,</p></content></level><level class="para1" eId="schedule-4-paragraph-17-1-c"><num>(c)</num><content><p>the name of the relevant recognised professional body which is the source of the proposed monitor’s authorisation to act in relation to the company, and</p></content></level><level class="para1" eId="schedule-4-paragraph-17-1-d"><num>(d)</num><content><p>a statement that the proposed monitor consents to act as monitor in relation to the company.</p></content></level></subparagraph><subparagraph eId="schedule-4-paragraph-17-2"><num>(2)</num><content><p>In this paragraph “IP number” means the number assigned to an office-holder as an insolvency practitioner by the Secretary of State.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Timing of statements for obtaining moratorium</heading><paragraph eId="schedule-4-paragraph-18" class="schProv1"><num>18</num><content><p>Each statement under section <ref href="#d25e433">A6</ref><ref href="#d25e449">(1)(b)</ref> to <ref href="#d25e479">(e)</ref> of the Insolvency Act 1986 must be made within the period of 5 days ending with the day on which the documents under section <ref href="#d25e433">A6</ref><ref href="#d25e443">(1)(a)</ref> to <ref href="#d25e479">(e)</ref> are filed with the court (or, if the documents are filed on different days, the last of those days).</p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Notice by monitor where moratorium comes into force</heading><paragraph eId="schedule-4-paragraph-19" class="schProv1"><num>19</num><intro><p>A notice under section <ref href="#d25e618">A8</ref><ref href="#d25e628">(2)</ref> of the Insolvency Act 1986 must—</p></intro><level class="para1" eId="schedule-4-paragraph-19-a"><num>(a)</num><content><p>state that it is given by the monitor acting in that capacity, and</p></content></level><level class="para1" eId="schedule-4-paragraph-19-b"><num>(b)</num><content><p>state the name and contact details of the monitor.</p></content></level></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Notice that directors wish to extend a moratorium</heading><paragraph eId="schedule-4-paragraph-20" class="schProv1"><num>20</num><intro><p>A notice under section <ref href="#d25e841">A10</ref><ref href="#d25e851">(1)(a)</ref> or <ref href="#d25e920">A11</ref><ref href="#d25e930">(1)(a)</ref> of the Insolvency Act 1986 must state—</p></intro><level class="para1" eId="schedule-4-paragraph-20-a"><num>(a)</num><content><p>the company’s address for service, and</p></content></level><level class="para1" eId="schedule-4-paragraph-20-b"><num>(b)</num><content><p>the court (and where applicable, the division or district registry of that court) or hearing centre in which the notice is to be filed.</p></content></level></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Extension under section <ref href="#d25e841">A10</ref> or <ref href="#d25e920">A11</ref> of the Insolvency Act 1986: notices and statements</heading><paragraph eId="schedule-4-paragraph-21" class="schProv1"><num>21</num><content><p>A statement by the monitor under section <ref href="#d25e841">A10</ref><ref href="#d25e963">(1)(d)</ref> or <ref href="#d25e920">A11</ref><ref href="#d25e963">(1)(d)</ref> of the Insolvency Act 1986 must contain contact details of the monitor.</p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Timing of statements for extension under section <ref href="#d25e841">A10</ref> or <ref href="#d25e920">A11</ref></heading><paragraph eId="schedule-4-paragraph-22" class="schProv1"><num>22</num><content><p>Each statement under section <ref href="#d25e841">A10</ref><ref href="#d25e857">(1)(b)</ref> to <ref href="#d25e884">(d)</ref> or <ref href="#d25e920">A11</ref><ref href="#d25e936">(1)(b)</ref> to <ref href="#d25e969">(e)</ref> of the Insolvency Act 1986 must be made within the period of 3 days ending with the day on which the documents under section <ref href="#d25e841">A10</ref><ref href="#d25e851">(1)(a)</ref> to <ref href="#d25e884">(d)</ref> or <ref href="#d25e920">A11</ref><ref href="#d25e930">(1)(a)</ref> to <ref href="#d25e969">(e)</ref> are filed with the court (or, if the documents are filed on different days, the last of those days).</p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Obtaining creditor consent: qualifying decision procedure</heading><paragraph eId="schedule-4-paragraph-23" class="schProv1"><num>23</num><subparagraph eId="schedule-4-paragraph-23-1"><num>(1)</num><intro><p>The following apply, so far as relevant, for the purposes of a decision to consent to a revised end date for a moratorium under section <ref href="#d25e1007">A12</ref> of the Insolvency Act 1986—</p></intro><level class="para1" eId="schedule-4-paragraph-23-1-a"><num>(a)</num><content><p>Part 15 of the England and Wales Insolvency Rules (decision making), apart from rule 15.8(3)(f) and (g);</p></content></level><level class="para1" eId="schedule-4-paragraph-23-1-b"><num>(b)</num><content><p>Part 16 of the England and Wales Insolvency Rules (proxies), apart from rule 16.7.</p></content></level></subparagraph><subparagraph eId="schedule-4-paragraph-23-2"><num>(2)</num><content><p>In its application by virtue of sub-paragraph (1), Part 15 has effect subject to the modifications set out in paragraphs <ref href="#schedule-4-paragraph-24">24</ref> to <ref href="#schedule-4-paragraph-28">28</ref>.</p></content></subparagraph></paragraph><paragraph eId="schedule-4-paragraph-24" class="schProv1"><num>24</num><content><p><mod>Rule 15.11 of the England and Wales Insolvency Rules (notice of decision procedures etc) has effect as if, before the first entry in the table, there were inserted—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="rule" ukl:Context="main" ukl:Format="double"><tblock class="table" ukl:Orientation="portrait"><foreign><default:table xmlns="http://www.w3.org/1999/xhtml"><default:col span="1" style="width:25%"/><default:col span="1" style="width:25%"/><default:col span="1" style="width:25%"/><default:col span="1" style="width:25%"/><default:tbody><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">moratorium</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">decision of pre-moratorium creditors under section <ref href="#d25e1007">A12</ref> of the Act</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">the pre-moratorium creditors</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">5 days</p></default:td></default:tr></default:tbody></default:table></foreign></tblock></quotedStructure><inline name="appendText">.</inline></mod></p></content></paragraph><paragraph eId="schedule-4-paragraph-25" class="schProv1"><num>25</num><content><p><mod>Rule 15.28 of the England and Wales Insolvency Rules (creditors’ voting rights) has effect as if, before paragraph (1), there were inserted—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="rule" ukl:Context="main" ukl:Format="double"><paragraph><num>A1</num><intro><p>A pre-moratorium creditor is entitled to vote in a decision procedure under section <ref href="#d25e1007">A12</ref> of the Act only if—</p></intro><level class="para1"><num>(a)</num><content><p>the creditor has delivered to the convener a proof of the debt claimed in accordance with paragraph (3) including any calculation for the purposes of rule 15.31 or 15.32, and</p></content></level><level class="para1"><num>(b)</num><intro><p>the proof was received by the convener—</p></intro><level class="para2"><num>(i)</num><content><p>not later than the decision date, or in the case of a meeting, 4pm on the business day before the meeting, or</p></content></level><level class="para2"><num>(ii)</num><content><p>in the case of a meeting, later than the time given in sub-paragraph (i) where the chair is content to accept the proof, and</p></content></level></level><level class="para1"><num>(c)</num><content><p>the proof has been admitted for the purposes of entitlement to vote.</p></content></level></paragraph></quotedStructure></mod></p></content></paragraph><paragraph eId="schedule-4-paragraph-26" class="schProv1"><num>26</num><intro><p>Rule 15.31 of the England and Wales Insolvency Rules (calculation of voting rights) has effect as if—</p></intro><level class="para1" eId="schedule-4-paragraph-26-a"><num>(a)</num><content><p><mod>before paragraph (1) there were inserted—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="rule" ukl:Context="main" ukl:Format="double"><paragraph><num>A1</num><content><p>In relation to a decision to consent to a revised end date for a moratorium under section <ref href="#d25e1007">A12</ref> of the Act votes are calculated according to the amount of each creditor’s claim at the decision date.</p></content></paragraph></quotedStructure><inline name="appendText">;</inline></mod></p></content></level><level class="para1" eId="schedule-4-paragraph-26-b"><num>(b)</num><content><p><mod>after paragraph (2) there were inserted—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="rule" ukl:Context="main" ukl:Format="double"><paragraph><num>(2A)</num><content><p>But in relation to a decision to consent to a revised end date for a moratorium under section <ref href="#d25e1007">A12</ref> of the Act, a debt of an unliquidated or unascertained amount is to be valued at £1 for the purposes of voting unless the convener or chair or an appointed person decides to put a higher value on it.</p></content></paragraph></quotedStructure><inline name="appendText">;</inline></mod></p></content></level><level class="para1" eId="schedule-4-paragraph-26-c"><num>(c)</num><content><p><mod>in paragraph (6), after sub-paragraph (b) there were inserted—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="rule" ukl:Context="main" ukl:Format="double"><level class="para1"><num>(c)</num><content><p>where the decision relates to whether to consent to a revised end date for a moratorium under section <ref href="#d25e1007">A12</ref> of the Act.</p></content></level></quotedStructure></mod></p></content></level></paragraph><paragraph eId="schedule-4-paragraph-27" class="schProv1"><num>27</num><content><p><mod>Rule 15.32 of the England and Wales Insolvency Rules (calculation of voting rights: special cases) has effect as if, before paragraph (1), there were inserted—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="rule" ukl:Context="main" ukl:Format="double"><paragraph><num>A1</num><content><p>In relation to a decision to consent to a revised end date for a moratorium under section <ref href="#d25e1007">A12</ref> of the Act, a pre-moratorium creditor under a hire-purchase agreement is entitled to vote in respect of the amount of the debt due and payable by the company at the decision date.</p></content></paragraph><paragraph><num>B1</num><content><p>In calculating the amount of any debt for the purpose of paragraph (A1), no account is to be taken of any amount attributable to the exercise of any right under the relevant agreement so far as the right has become exercisable solely by virtue of a moratorium for the company coming into force.</p></content></paragraph></quotedStructure></mod></p></content></paragraph><paragraph eId="schedule-4-paragraph-28" class="schProv1"><num>28</num><content><p><mod>Rule 15.34 of the England and Wales Insolvency Rules (requisite majorities) has effect as if, before paragraph (1), there were inserted—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="rule" ukl:Context="main" ukl:Format="double"><paragraph><num>A1</num><intro><p>Subject to paragraph (B1), a decision to consent to a revised end date for a moratorium under section <ref href="#d25e1007">A12</ref> of the Act is made if, of those voting—</p></intro><level class="para1"><num>(a)</num><content><p>a majority (in value) of the pre-moratorium creditors who are secured creditors vote in favour of the proposed decision, and</p></content></level><level class="para1"><num>(b)</num><content><p>a majority (in value) of the pre-moratorium creditors who are unsecured creditors vote in favour of the proposed decision.</p></content></level></paragraph><paragraph><num>B1</num><intro><p>But a decision to consent to a revised end date for a moratorium under section <ref href="#d25e1007">A12</ref> of the Act is not made if, of those voting either—</p></intro><level class="para1"><num>(a)</num><content><p>a majority of the pre-moratorium creditors who are unconnected secured creditors vote against the proposed end date, or</p></content></level><level class="para1"><num>(b)</num><content><p>a majority of the pre-moratorium creditors who are unconnected unsecured creditors vote against the proposed end date.</p></content></level></paragraph><paragraph><num>C1</num><intro><p>For the purposes of paragraph (B1)—</p></intro><level class="para1"><num>(a)</num><content><p>a creditor is unconnected unless the convener or chair decides that the creditor is connected, and</p></content></level><level class="para1"><num>(b)</num><content><p>the total value of the unconnected creditors is the total value of those unconnected creditors whose claims have been admitted for voting.</p></content></level></paragraph></quotedStructure></mod></p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Content of application to the court for extension of moratorium</heading><paragraph eId="schedule-4-paragraph-29" class="schProv1"><num>29</num><subparagraph eId="schedule-4-paragraph-29-1"><num>(1)</num><intro><p>An application by the directors of a company for the extension of a moratorium under section <ref href="#d25e1090">A13</ref> of the Insolvency Act 1986 must state—</p></intro><level class="para1" eId="schedule-4-paragraph-29-1-a"><num>(a)</num><content><p>that it is made under that section,</p></content></level><level class="para1" eId="schedule-4-paragraph-29-1-b"><num>(b)</num><content><p>the length of the extension sought,</p></content></level><level class="para1" eId="schedule-4-paragraph-29-1-c"><num>(c)</num><content><p>identification details for the company to which the application relates,</p></content></level><level class="para1" eId="schedule-4-paragraph-29-1-d"><num>(d)</num><content><p>the company’s address for service, and</p></content></level><level class="para1" eId="schedule-4-paragraph-29-1-e"><num>(e)</num><content><p>the court (and where applicable, the division or district registry of that court) or hearing centre in which the application is made.</p></content></level></subparagraph><subparagraph eId="schedule-4-paragraph-29-2"><num>(2)</num><content><p>The application must be authenticated by or on behalf of the directors.</p></content></subparagraph><subparagraph eId="schedule-4-paragraph-29-3"><num>(3)</num><content><p>Rule 1.5 of the England and Wales Insolvency Rules applies for the purposes of authentication under sub-paragraph <ref href="#schedule-4-paragraph-29-2">(2)</ref>.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Timing of statements accompanying application to court for extension of moratorium</heading><paragraph eId="schedule-4-paragraph-30" class="schProv1"><num>30</num><content><p>A statement under section <ref href="#d25e1090">A13</ref><ref href="#d25e1100">(2)</ref> must be made within the period of 3 days ending with the day on which the application under that section is made.</p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Notices about change in end of moratorium</heading><paragraph eId="schedule-4-paragraph-31" class="schProv1"><num>31</num><subparagraph eId="schedule-4-paragraph-31-1"><num>(1)</num><content><p>A notice under section <ref href="#d25e1464">A17</ref><ref href="#d25e1468">(1)</ref> of the Insolvency Act 1986 must be given within the period of 5 days beginning with the day on which the duty to give the notice arises.</p></content></subparagraph><subparagraph eId="schedule-4-paragraph-31-2"><num>(2)</num><intro><p>The notice must state—</p></intro><level class="para1" eId="schedule-4-paragraph-31-2-a"><num>(a)</num><content><p>the name of the company to which it relates, and</p></content></level><level class="para1" eId="schedule-4-paragraph-31-2-b"><num>(b)</num><content><p>the provision by virtue of which the moratorium was extended or came to an end.</p></content></level></subparagraph></paragraph><paragraph eId="schedule-4-paragraph-32" class="schProv1"><num>32</num><subparagraph eId="schedule-4-paragraph-32-1"><num>(1)</num><content><p>A notice under section <ref href="#d25e1464">A17</ref><ref href="#d25e1610">(2)</ref> or <ref href="#d25e1627">(3)</ref> of the Insolvency Act 1986 must be given within the period of 5 days beginning with the day on which the duty to give the notice arises.</p></content></subparagraph><subparagraph eId="schedule-4-paragraph-32-2"><num>(2)</num><intro><p>The notice must state—</p></intro><level class="para1" eId="schedule-4-paragraph-32-2-a"><num>(a)</num><content><p>the provision under which it is given,</p></content></level><level class="para1" eId="schedule-4-paragraph-32-2-b"><num>(b)</num><content><p>the nature of the notice,</p></content></level><level class="para1" eId="schedule-4-paragraph-32-2-c"><num>(c)</num><content><p>the date of the notice,</p></content></level><level class="para1" eId="schedule-4-paragraph-32-2-d"><num>(d)</num><content><p>that it is given by the monitor acting in that capacity,</p></content></level><level class="para1" eId="schedule-4-paragraph-32-2-e"><num>(e)</num><content><p>the name and contact details of the monitor, and</p></content></level><level class="para1" eId="schedule-4-paragraph-32-2-f"><num>(f)</num><content><p>the identification details for the company to which it relates.</p></content></level></subparagraph><subparagraph eId="schedule-4-paragraph-32-3"><num>(3)</num><content><p>A notice under section <ref href="#d25e1464">A17</ref><ref href="#d25e1610">(2)</ref> or <ref href="#d25e1627">(3)</ref> of the Insolvency Act 1986 that is given to the registrar of companies must be authenticated by or on behalf of the monitor.</p></content></subparagraph><subparagraph eId="schedule-4-paragraph-32-4"><num>(4)</num><content><p>Rule 1.5 of the England and Wales Insolvency Rules applies for the purposes of authentication under sub-paragraph <ref href="#schedule-4-paragraph-32-3">(3)</ref>.</p></content></subparagraph></paragraph><paragraph eId="schedule-4-paragraph-33" class="schProv1"><num>33</num><intro><p>Where a moratorium comes to an end under section <ref href="#d25e1400">A16</ref> of the Insolvency Act 1986 because the company has entered into a relevant insolvency procedure within the meaning of that section, the notices under section <ref href="#d25e1464">A17</ref><ref href="#d25e1468">(1)</ref> and <ref href="#d25e1610">(2)</ref> must state—</p></intro><level class="para1" eId="schedule-4-paragraph-33-a"><num>(a)</num><content><p>the date on which the company entered into the relevant insolvency procedure, and</p></content></level><level class="para1" eId="schedule-4-paragraph-33-b"><num>(b)</num><content><p>the name and contact details of the supervisor of the voluntary arrangement, the administrator or the liquidator.</p></content></level></paragraph><paragraph eId="schedule-4-paragraph-34" class="schProv1"><num>34</num><subparagraph eId="schedule-4-paragraph-34-1"><num>(1)</num><content><p>A notice under section <ref href="#d25e1464">A17</ref><ref href="#d25e1633">(4)</ref> of the Insolvency Act 1986 must be given within the period of 3 business days beginning with the day on which the notice under section <ref href="#d25e3388">A38</ref>(1) of that Act is filed with the court.</p></content></subparagraph><subparagraph eId="schedule-4-paragraph-34-2"><num>(2)</num><content><p>The notice under section <ref href="#d25e1464">A17</ref><ref href="#d25e1633">(4)</ref> of that Act must be accompanied by the notice that the monitor has filed with the court under section <ref href="#d25e3388">A38</ref>(1) of that Act.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Notification by directors of insolvency proceedings etc</heading><paragraph eId="schedule-4-paragraph-35" class="schProv1"><num>35</num><subparagraph eId="schedule-4-paragraph-35-1"><num>(1)</num><content><p>A notice under section <ref href="#d25e2457">A24</ref><ref href="#d25e2525">(1)</ref> of the Insolvency Act 1986 must be given before the period of 3 days ending with the day on which the step mentioned there is taken.</p></content></subparagraph><subparagraph eId="schedule-4-paragraph-35-2"><num>(2)</num><content><p>A notice under section <ref href="#d25e2457">A24</ref><ref href="#d25e2485">(2)</ref> of the Insolvency Act 1986 must be given within the period of 3 days beginning with the day on which the duty to give the notice arises.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Notice of termination of moratorium</heading><paragraph eId="schedule-4-paragraph-36" class="schProv1"><num>36</num><subparagraph eId="schedule-4-paragraph-36-1"><num>(1)</num><content><p>A notice under section <ref href="#d25e3388">A38</ref>(1) of the Insolvency Act 1986 must be filed with the court as soon as practicable after the duty in that subsection arises.</p></content></subparagraph><subparagraph eId="schedule-4-paragraph-36-2"><num>(2)</num><intro><p>The notice must state—</p></intro><level class="para1" eId="schedule-4-paragraph-36-2-a"><num>(a)</num><content><p>the provision under which it is given,</p></content></level><level class="para1" eId="schedule-4-paragraph-36-2-b"><num>(b)</num><content><p>the nature of the notice,</p></content></level><level class="para1" eId="schedule-4-paragraph-36-2-c"><num>(c)</num><content><p>the date of the notice,</p></content></level><level class="para1" eId="schedule-4-paragraph-36-2-d"><num>(d)</num><content><p>the name and contact details of the monitor,</p></content></level><level class="para1" eId="schedule-4-paragraph-36-2-e"><num>(e)</num><content><p>the identification details for the company to which it relates,</p></content></level><level class="para1" eId="schedule-4-paragraph-36-2-f"><num>(f)</num><content><p>the grounds on which the moratorium is being terminated,</p></content></level><level class="para1" eId="schedule-4-paragraph-36-2-g"><num>(g)</num><content><p>the monitor’s reasons for concluding that those grounds are made out,</p></content></level><level class="para1" eId="schedule-4-paragraph-36-2-h"><num>(h)</num><content><p>the date on which the monitor concluded that those grounds were made out, and</p></content></level><level class="para1" eId="schedule-4-paragraph-36-2-i"><num>(i)</num><content><p>the court (and where applicable, the division or district registry of that court) or hearing centre in which the notice is to be filed.</p></content></level></subparagraph><subparagraph eId="schedule-4-paragraph-36-3"><num>(3)</num><content><p>The notice must be authenticated by or on behalf of the monitor.</p></content></subparagraph><subparagraph eId="schedule-4-paragraph-36-4"><num>(4)</num><content><p>Rule 1.5 of the England and Wales Insolvency Rules applies for the purposes of authentication under sub-paragraph <ref href="#schedule-4-paragraph-32-3">(3)</ref>.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Termination of moratorium under section <ref href="#d25e3388">A38</ref><ref href="#d25e3419">(1)(d)</ref> of the Insolvency Act 1986</heading><paragraph eId="schedule-4-paragraph-37" class="schProv1"><num>37</num><intro><p>For the purposes of deciding whether to bring a moratorium to an end under section <ref href="#d25e3388">A38</ref><ref href="#d25e3419">(1)(d)</ref> of the Insolvency Act 1986 the monitor must disregard—</p></intro><level class="para1" eId="schedule-4-paragraph-37-a"><num>(a)</num><content><p>any debts that the monitor has reasonable grounds for thinking are likely to be paid within 5 days of the decision, and</p></content></level><level class="para1" eId="schedule-4-paragraph-37-b"><num>(b)</num><content><p>any debts in respect of which the creditor has agreed to defer payment until a time that is later than the decision.</p></content></level></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Replacement of monitor or additional monitor: statement and consent to act</heading><paragraph eId="schedule-4-paragraph-38" class="schProv1"><num>38</num><subparagraph eId="schedule-4-paragraph-38-1"><num>(1)</num><intro><p>A statement under section <ref href="#d25e3488">A39</ref><ref href="#d25e3516">(4)</ref> of the Insolvency Act 1986 must be headed “Proposed monitor’s statement and consent to act” and must contain the following—</p></intro><level class="para1" eId="schedule-4-paragraph-38-1-a"><num>(a)</num><content><p>a certificate that the proposed monitor is qualified to act as an insolvency practitioner in relation to the company,</p></content></level><level class="para1" eId="schedule-4-paragraph-38-1-b"><num>(b)</num><content><p>the proposed monitor’s IP number,</p></content></level><level class="para1" eId="schedule-4-paragraph-38-1-c"><num>(c)</num><content><p>the name of the relevant recognised professional body which is the source of the proposed monitor’s authorisation to act in relation to the company, and</p></content></level><level class="para1" eId="schedule-4-paragraph-38-1-d"><num>(d)</num><content><p>a statement that the proposed monitor consents to act as monitor in relation to the company.</p></content></level></subparagraph><subparagraph eId="schedule-4-paragraph-38-2"><num>(2)</num><content><p>The statement must be made within the period of 5 days ending with the day on which it is filed with the court.</p></content></subparagraph><subparagraph eId="schedule-4-paragraph-38-3"><num>(3)</num><content><p>In this paragraph “IP number” means the number assigned to an office-holder as an insolvency practitioner by the Secretary of State.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Replacement of monitor or additional monitor: notification</heading><paragraph eId="schedule-4-paragraph-39" class="schProv1"><num>39</num><subparagraph eId="schedule-4-paragraph-39-1"><num>(1)</num><intro><p>A notice under section <ref href="#d25e3488">A39</ref><ref href="#d25e3579">(8)</ref> of the Insolvency Act 1986 must state—</p></intro><level class="para1" eId="schedule-4-paragraph-39-1-a"><num>(a)</num><content><p>the provision under which it is given,</p></content></level><level class="para1" eId="schedule-4-paragraph-39-1-b"><num>(b)</num><content><p>the nature of the notice,</p></content></level><level class="para1" eId="schedule-4-paragraph-39-1-c"><num>(c)</num><content><p>the date of the notice,</p></content></level><level class="para1" eId="schedule-4-paragraph-39-1-d"><num>(d)</num><content><p>the identification details for the company to which it relates,</p></content></level><level class="para1" eId="schedule-4-paragraph-39-1-e"><num>(e)</num><content><p>that it is given by the monitor acting in that capacity, and</p></content></level><level class="para1" eId="schedule-4-paragraph-39-1-f"><num>(f)</num><content><p>the name and contact details of the monitor.</p></content></level></subparagraph><subparagraph eId="schedule-4-paragraph-39-2"><num>(2)</num><content><p>The notice must be authenticated by the monitor.</p></content></subparagraph><subparagraph eId="schedule-4-paragraph-39-3"><num>(3)</num><content><p>Rule 1.5 of the England and Wales Insolvency Rules applies for the purposes of authentication under this paragraph.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Challenge to monitor’s remuneration</heading><paragraph eId="schedule-4-paragraph-40" class="schProv1"><num>40</num><subparagraph eId="schedule-4-paragraph-40-1"><num>(1)</num><content><p>An administrator or liquidator of a company may apply to the court on the ground that remuneration charged by the monitor in relation to a prior moratorium for the company under Part A1 of the Insolvency Act 1986 was excessive.</p></content></subparagraph><subparagraph eId="schedule-4-paragraph-40-2"><num>(2)</num><content><p>An application under this paragraph may not be made after the end of the period of 2 years beginning with the day after the moratorium ends.</p></content></subparagraph><subparagraph eId="schedule-4-paragraph-40-3"><num>(3)</num><intro><p>On an application under this paragraph the court may—</p></intro><level class="para1" eId="schedule-4-paragraph-40-3-a"><num>(a)</num><content><p>dismiss the application,</p></content></level><level class="para1" eId="schedule-4-paragraph-40-3-b"><num>(b)</num><content><p>order the monitor to repay some or all of the remuneration, or</p></content></level><level class="para1" eId="schedule-4-paragraph-40-3-c"><num>(c)</num><content><p>make such other order as it thinks fit.</p></content></level></subparagraph><subparagraph eId="schedule-4-paragraph-40-4"><num>(4)</num><content><p>The costs of an application under this paragraph are, unless the court orders otherwise, to be paid as an expense of the administration or liquidation.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Challenge to directors’ actions: qualifying decision procedure</heading><paragraph eId="schedule-4-paragraph-41" class="schProv1"><num>41</num><intro><p>Where the court makes an order by virtue of section A44(4)(c) of the Insolvency Act 1986 requiring a decision of a company’s creditors, the following provisions of the England and Wales Insolvency Rules apply for the purposes of that decision to the extent set out in the court’s order and subject to any modifications set out in the court’s order—</p></intro><level class="para1" eId="schedule-4-paragraph-41-a"><num>(a)</num><content><p>Part 15 (decision making);</p></content></level><level class="para1" eId="schedule-4-paragraph-41-b"><num>(b)</num><content><p>Part 16 (proxies).</p></content></level></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Priority of moratorium debts etc in subsequent winding up</heading><paragraph eId="schedule-4-paragraph-42" class="schProv1"><num>42</num><subparagraph eId="schedule-4-paragraph-42-1"><num>(1)</num><intro><p>Where section 174A of the Insolvency Act 1986 applies, the moratorium debts and pre-moratorium debts mentioned in subsection (2)(b) of that section are payable in the following order of priority—</p></intro><level class="para1" eId="schedule-4-paragraph-42-1-a"><num>(a)</num><content><p>amounts payable in respect of goods or services supplied during the moratorium under a contract where, but for section 233B(3) or (4) of that Act, the supplier would not have had to make that supply;</p></content></level><level class="para1" eId="schedule-4-paragraph-42-1-b"><num>(b)</num><content><p>wages or salary arising under a contract of employment;</p></content></level><level class="para1" eId="schedule-4-paragraph-42-1-c"><num>(c)</num><content><p>other debts or other liabilities apart from the monitor’s remuneration or expenses;</p></content></level><level class="para1" eId="schedule-4-paragraph-42-1-d"><num>(d)</num><content><p>the monitor’s remuneration or expenses.</p></content></level></subparagraph><subparagraph eId="schedule-4-paragraph-42-2"><num>(2)</num><content><p>In this paragraph “wages or salary” has the same meaning as in section <ref href="#d25e1722">A18</ref> of the Insolvency Act 1986.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Priority of moratorium debts etc in subsequent administration</heading><paragraph eId="schedule-4-paragraph-43" class="schProv1"><num>43</num><subparagraph eId="schedule-4-paragraph-43-1"><num>(1)</num><intro><p>Where paragraph 64A(1) of Schedule B1 to the Insolvency Act 1986 applies, the moratorium debts and pre-moratorium debts mentioned in paragraph 64A(2) of that Schedule are payable in the following order of priority—</p></intro><level class="para1" eId="schedule-4-paragraph-43-1-a"><num>(a)</num><content><p>amounts payable in respect of goods or services supplied during the moratorium under a contract where, but for section 233B(3) or (4) of that Act, the supplier would not have had to make that supply;</p></content></level><level class="para1" eId="schedule-4-paragraph-43-1-b"><num>(b)</num><content><p>wages or salary arising under a contract of employment;</p></content></level><level class="para1" eId="schedule-4-paragraph-43-1-c"><num>(c)</num><content><p>other debts or other liabilities apart from the monitor’s remuneration or expenses;</p></content></level><level class="para1" eId="schedule-4-paragraph-43-1-d"><num>(d)</num><content><p>the monitor’s remuneration or expenses.</p></content></level></subparagraph><subparagraph eId="schedule-4-paragraph-43-2"><num>(2)</num><content><p>In this paragraph “wages or salary” has the same meaning as in section <ref href="#d25e1722">A18</ref> of the Insolvency Act 1986.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Prescribed format of documents</heading><paragraph eId="schedule-4-paragraph-44" class="schProv1"><num>44</num><content><p>Rule 1.4 of the England and Wales Insolvency Rules (requirement for writing and form of documents) applies for the purposes of Part A1 of the Insolvency Act 1986.</p></content></paragraph><paragraph eId="schedule-4-paragraph-45" class="schProv1"><num>45</num><subparagraph eId="schedule-4-paragraph-45-1"><num>(1)</num><content><p>The following provisions of the England and Wales Insolvency Rules apply, so far as relevant, to any requirement imposed by a provision of this Part of this Schedule—</p><blockList class="unordered none" ukl:Name="UnorderedList" ukl:Decoration="none"><item><p>rule 1.8 (prescribed format of documents), and</p></item><item><p>rule 1.9(1) (variations from prescribed contents).</p></item></blockList></content></subparagraph><subparagraph eId="schedule-4-paragraph-45-2"><num>(2)</num><content><p>In their application by virtue of sub-paragraph (1), a reference in rule 1.8 or 1.9(1) to the requirements of a rule is to be read as a reference to the requirements of the provision of this Part of this Schedule.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Delivery of documents</heading><paragraph eId="schedule-4-paragraph-46" class="schProv1"><num>46</num><content><p>The following provisions of Chapter 9 of Part 1 of the England and Wales Insolvency Rules apply for the purposes of proceedings under Part A1 of the Insolvency Act 1986 as if rule 1.36(1) included a reference to such proceedings—</p><blockList class="unordered none" ukl:Name="UnorderedList" ukl:Decoration="none"><item><p>rule 1.36(2) (delivery to registrar of companies);</p></item><item><p>rule 1.40 (delivery of documents to authorised recipients);</p></item><item><p>rule 1.41 (delivery of documents to joint office-holders);</p></item><item><p>rule 1.42 (postal delivery of documents);</p></item><item><p>rule 1.43 (delivery by document exchange);</p></item><item><p>rule 1.44 (personal delivery of documents);</p></item><item><p>rule 1.45 (electronic delivery of documents).</p></item></blockList></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Applications to court</heading><paragraph eId="schedule-4-paragraph-47" class="schProv1"><num>47</num><subparagraph eId="schedule-4-paragraph-47-1"><num>(1)</num><intro><p>The provisions of the England and Wales Insolvency Rules specified in the Table apply, so far as relevant, for the purposes of proceedings under—</p></intro><level class="para1" eId="schedule-4-paragraph-47-1-a"><num>(a)</num><content><p>Part A1 of the Insolvency Act 1986;</p></content></level><level class="para1" eId="schedule-4-paragraph-47-1-b"><num>(b)</num><content><p>this Part of this Schedule.</p></content></level></subparagraph><subparagraph eId="schedule-4-paragraph-47-2"><num>(2)</num><intro><p>In their application by virtue of sub-paragraph (1), the provisions listed in the Table have effect with—</p></intro><level class="para1" eId="schedule-4-paragraph-47-2-a"><num>(a)</num><content><p>the modification set out in sub-paragraph <ref href="#schedule-4-paragraph-47-3">(3)</ref>,</p></content></level><level class="para1" eId="schedule-4-paragraph-47-2-b"><num>(b)</num><content><p>the modifications specified in the Table, and</p></content></level><level class="para1" eId="schedule-4-paragraph-47-2-c"><num>(c)</num><content><p>any other necessary modifications.</p></content></level></subparagraph><subparagraph eId="schedule-4-paragraph-47-3"><num>(3)</num><content><p>The modification is that any reference to Part 1 of the Insolvency Act 1986 includes a reference to Part A1 of that Act and this Part of this Schedule.</p></content></subparagraph><subparagraph eId="schedule-4-paragraph-47-4"><num>(4)</num><content><p>This is the Table referred to in sub-paragraphs <ref href="#schedule-4-paragraph-47-1">(1)</ref> and <ref href="#schedule-4-paragraph-47-2">(2)</ref>—</p><tblock class="table" ukl:Orientation="portrait"><foreign><default:table xmlns="http://www.w3.org/1999/xhtml"><default:col span="1" style="width:24%"/><default:col span="1" style="width:30%"/><default:col span="1" style="width:46%"/><default:thead><default:tr><default:th><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Insolvency Rules</p></default:th><default:th xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Topic</p></default:th><default:th xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Modifications</p></default:th></default:tr></default:thead><default:tbody><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-top-style="solid" fo:border-top-width="0.5pt" fo:border-top-color="black" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Rule 1.35</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black" fo:border-top-style="solid" fo:border-top-width="0.5pt" fo:border-top-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Standard contents and authentication of applications</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black" fo:border-top-style="solid" fo:border-top-width="0.5pt" fo:border-top-color="black"/></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Rules 12.1 and 12.2</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Court rules and practice to apply etc</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"/></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Rule 12.3 and Schedule 6</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Commencement of proceedings</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"/></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Rules 12.7 to 12.11 and 12.13</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Making applications to court: general</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Rule 12.9 has effect as if, in relation to a regulated company (within the meaning of section <ref href="#d25e4390">A49</ref> of the Insolvency Act 1986), it also required the application to be served on the appropriate regulator (within the meaning of that section).</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Rules 12.27 to 12.29</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Obtaining information and evidence</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Rule 12.29(3) has effect as if it included a reference to the monitor in relation to a moratorium.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" rowspan="2" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Rules 12.30, 12.31, 12.33 and 12.35 to 12.38</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black" rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Transfer of proceedings</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">(a) Rule 12.36(2) has effect as if the list of office-holders included the monitor in relation to a moratorium.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">(b) Rule 12.37(2) and (3) have effect as if the list of provisions included section <ref href="#d25e3488">A39</ref> of the Insolvency Act 1986.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Rules 12.39 and 12.40</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">The court file</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"/></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Rules 12.41, 12.42(5), 12.47, 12.48 and 12.50</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Costs</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Rule 12.48(2) has effect as if it required the applicant to serve a sealed copy of the application on the monitor and the company to which the moratorium relates.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Rule 12.51</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Enforcement of court orders</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"/></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Rules 12.58, 12.59 and 12.61 and Schedule 10</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Appeals</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"/></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Rules 12.63 to 12.65</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Court orders, formal defects and shorthand writers</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"/></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Schedule 4, paragraphs 1, 4, 5 and 6</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"/><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">These paragraphs of Schedule 4 apply only for the purposes of the rules applied by this Table.</p></default:td></default:tr></default:tbody></default:table></foreign></tblock></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Identification details for a company</heading><paragraph eId="schedule-4-paragraph-48" class="schProv1"><num>48</num><subparagraph eId="schedule-4-paragraph-48-1"><num>(1)</num><intro><p>Where a provision of this Part of this Schedule requires a document to contain identification details for a company that is registered under the Companies Act 2006 in England and Wales, the following information must be given—</p></intro><level class="para1" eId="schedule-4-paragraph-48-1-a"><num>(a)</num><content><p>the company’s registered name;</p></content></level><level class="para1" eId="schedule-4-paragraph-48-1-b"><num>(b)</num><content><p>its registered number;</p></content></level></subparagraph><subparagraph eId="schedule-4-paragraph-48-2"><num>(2)</num><intro><p>Where a provision of this Part of this Schedule requires a document to contain identification details for a company that has registered particulars under section 1046(1) of the Companies Act 2006 (registered overseas companies), the following information must be given—</p></intro><level class="para1" eId="schedule-4-paragraph-48-2-a"><num>(a)</num><content><p>the name registered by the company under section 1047 of that Act,</p></content></level><level class="para1" eId="schedule-4-paragraph-48-2-b"><num>(b)</num><content><p>the number under which it is registered, and</p></content></level><level class="para1" eId="schedule-4-paragraph-48-2-c"><num>(c)</num><content><p>the country or territory in which it is incorporated.</p></content></level></subparagraph><subparagraph eId="schedule-4-paragraph-48-3"><num>(3)</num><intro><p>Where a provision of this Part of this Schedule requires a document to contain identification details for an unregistered company that does not come within sub-paragraph (2) the following information must be given—</p></intro><level class="para1" eId="schedule-4-paragraph-48-3-a"><num>(a)</num><content><p>the company’s name, and</p></content></level><level class="para1" eId="schedule-4-paragraph-48-3-b"><num>(b)</num><content><p>the postal address of any principal place of business.</p></content></level></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Contact details of a monitor or other office-holder</heading><paragraph eId="schedule-4-paragraph-49" class="schProv1"><num>49</num><intro><p>Where a provision of this Part of this Schedule requires a document to contain contact details of a monitor or other office-holder, the following information must be given—</p></intro><level class="para1" eId="schedule-4-paragraph-49-a"><num>(a)</num><content><p>a postal address for the monitor or office-holder, and</p></content></level><level class="para1" eId="schedule-4-paragraph-49-b"><num>(b)</num><content><p>either an email address, or a telephone number, through which the monitor may be contacted.</p></content></level></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>“The England and Wales Insolvency Rules”</heading><paragraph eId="schedule-4-paragraph-50" class="schProv1"><num>50</num><content><p>In this Part of this Schedule “the England and Wales Insolvency Rules” means the Insolvency (England and Wales) Rules 2016.</p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Interpretation: general</heading><paragraph eId="schedule-4-paragraph-51" class="schProv1"><num>51</num><content><p>Expressions used in this Part of this Schedule are to be construed as if this Part of this Schedule were contained in Part A1 of the Insolvency Act 1986.</p></content></paragraph></hcontainer></part>
<hcontainer xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" name="crossheading" class="schGroup7"><heading>Third Parties (Rights against Insurers) Act 2010</heading><paragraph eId="schedule-9-paragraph-45" class="schProv1"><num>45</num><content><p>In section 6 of the Third Parties (Rights against Insurers) Act 2010 (corporate bodies etc), in subsection (1), after “section 899” insert “or 901F”.</p></content></paragraph></hcontainer>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-4-paragraph-29" class="schProv1"><num>29</num><subparagraph eId="schedule-4-paragraph-29-1"><num>(1)</num><intro><p>An application by the directors of a company for the extension of a moratorium under section <ref href="#d25e1090">A13</ref> of the Insolvency Act 1986 must state—</p></intro><level class="para1" eId="schedule-4-paragraph-29-1-a"><num>(a)</num><content><p>that it is made under that section,</p></content></level><level class="para1" eId="schedule-4-paragraph-29-1-b"><num>(b)</num><content><p>the length of the extension sought,</p></content></level><level class="para1" eId="schedule-4-paragraph-29-1-c"><num>(c)</num><content><p>identification details for the company to which the application relates,</p></content></level><level class="para1" eId="schedule-4-paragraph-29-1-d"><num>(d)</num><content><p>the company’s address for service, and</p></content></level><level class="para1" eId="schedule-4-paragraph-29-1-e"><num>(e)</num><content><p>the court (and where applicable, the division or district registry of that court) or hearing centre in which the application is made.</p></content></level></subparagraph><subparagraph eId="schedule-4-paragraph-29-2"><num>(2)</num><content><p>The application must be authenticated by or on behalf of the directors.</p></content></subparagraph><subparagraph eId="schedule-4-paragraph-29-3"><num>(3)</num><content><p>Rule 1.5 of the England and Wales Insolvency Rules applies for the purposes of authentication under sub-paragraph <ref href="#schedule-4-paragraph-29-2">(2)</ref>.</p></content></subparagraph></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-4-paragraph-75" class="schProv1"><num>75</num><subparagraph eId="schedule-4-paragraph-75-1"><num>(1)</num><content><p>A notice under section <ref href="#d25e2457">A24</ref><ref href="#d25e2525">(1)</ref> of the Insolvency Act 1986 must be given before the period of 3 days ending with the day on which the step mentioned there is taken.</p></content></subparagraph><subparagraph eId="schedule-4-paragraph-75-2"><num>(2)</num><content><p>A notice under section <ref href="#d25e2457">A24</ref><ref href="#d25e2485">(2)</ref> of the Insolvency Act 1986 must be given within the period of 3 days beginning with the day on which the duty to give the notice arises.</p></content></subparagraph></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-4-paragraph-78" class="schProv1"><num>78</num><subparagraph eId="schedule-4-paragraph-78-1"><num>(1)</num><intro><p>A statement under section <ref href="#d25e3488">A39</ref><ref href="#d25e3516">(4)</ref> of the Insolvency Act 1986 must be headed “Proposed monitor’s statement and consent to act” and must contain the following—</p></intro><level class="para1" eId="schedule-4-paragraph-78-1-a"><num>(a)</num><content><p>a certificate that the proposed monitor is qualified to act as an insolvency practitioner in relation to the company,</p></content></level><level class="para1" eId="schedule-4-paragraph-78-1-b"><num>(b)</num><content><p>the proposed monitor’s IP number,</p></content></level><level class="para1" eId="schedule-4-paragraph-78-1-c"><num>(c)</num><content><p>the name of the relevant recognised professional body which is the source of the proposed monitor’s authorisation to act in relation to the company, and</p></content></level><level class="para1" eId="schedule-4-paragraph-78-1-d"><num>(d)</num><content><p>a statement that the proposed monitor consents to act as monitor in relation to the company.</p></content></level></subparagraph><subparagraph eId="schedule-4-paragraph-78-2"><num>(2)</num><content><p>The statement must be made within the period of 5 days ending with the day on which it is lodged in the court.</p></content></subparagraph><subparagraph eId="schedule-4-paragraph-78-3"><num>(3)</num><content><p>In this paragraph “IP number” means the number assigned to an office-holder as an insolvency practitioner by the Secretary of State.</p></content></subparagraph></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-4-paragraph-81" class="schProv1"><num>81</num><intro><p>Where the court makes an order by virtue of section A44(4)(c) of the Insolvency Act 1986 requiring a decision of a company’s creditors, the following provisions of the Scottish Insolvency Rules apply for the purposes of that decision to the extent set out in the court’s order and subject to any modifications set out in the court’s order—</p></intro><level class="para1" eId="schedule-4-paragraph-81-a"><num>(a)</num><content><p>Part 5 (decision making);</p></content></level><level class="para1" eId="schedule-4-paragraph-81-b"><num>(b)</num><content><p>Part 6 (proxies).</p></content></level></paragraph>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="schedule-4-paragraph-81-a"><num>(a)</num><content><p>Part 5 (decision making);</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="schedule-4-paragraph-81-b"><num>(b)</num><content><p>Part 6 (proxies).</p></content></level>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-4-paragraph-84" class="schProv1"><num>84</num><content><p>Rule 1.5 of the Scottish Insolvency Rules (requirement for writing and form of documents) applies for the purposes of Part A1 of the Insolvency Act 1986.</p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-4-paragraph-88" class="schProv1"><num>88</num><intro><p>Where a provision of this Part of this Schedule requires a document to contain contact details of a monitor or other office-holder, the following information must be given—</p></intro><level class="para1" eId="schedule-4-paragraph-88-a"><num>(a)</num><content><p>a postal address for the monitor or office-holder, and</p></content></level><level class="para1" eId="schedule-4-paragraph-88-b"><num>(b)</num><content><p>either an email address, or a telephone number, through which the monitor may be contacted.</p></content></level></paragraph>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="schedule-4-paragraph-88-a"><num>(a)</num><content><p>a postal address for the monitor or office-holder, and</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="schedule-4-paragraph-88-b"><num>(b)</num><content><p>either an email address, or a telephone number, through which the monitor may be contacted.</p></content></level>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" eId="schedule-8-paragraph-9" class="schProv1"><num>9</num><content><p><mod>In relation to a moratorium that comes into force during the relevant period, Article <ref href="#d25e8570">13EA</ref><ref href="#d25e8574">(1)</ref> of the Insolvency (Northern Ireland) Order 1989 has effect as if for the words from “it remains likely” to the end there were substituted <quotedText startQuote="“">—</quotedText><quotedStructure endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="order" ukl:Context="main" ukl:Format="double"><level class="para1"><num>(a)</num><content><p>it is likely that the moratorium will result in the rescue of the company as a going concern, or</p></content></level><level class="para1"><num>(b)</num><content><p>that, if one were to disregard any worsening of the financial position of the company for reasons relating to coronavirus, it is likely that the moratorium would result in the rescue of the company as a going concern.</p></content></level></quotedStructure></mod></p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-9-paragraph-45" class="schProv1"><num>45</num><content><p>In section 6 of the Third Parties (Rights against Insurers) Act 2010 (corporate bodies etc), in subsection (1), after “section 899” insert “or 901F”.</p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" eId="schedule-9-paragraph-50" class="schProv1"><num>50</num><content><p><mod>In section 118 of the Co-operative and Community Benefit Societies Act 2014 (power to apply provisions about company arrangements and administration in relation to registered societies), in subsection (2), after paragraph (c) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="double"><level class="para1"><num>(d)</num><content><p>Part 26A of that Act (compromise or arrangement with creditors where company in financial difficulty).</p></content></level></quotedStructure></mod></p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" eId="schedule-4-paragraph-85" class="schProv1"><num>85</num><subparagraph eId="schedule-4-paragraph-85-1"><num>(1)</num><content><p>The following provisions of the Scottish Insolvency Rules apply, so far as relevant, to any requirement imposed by a provision of this Part of this Schedule—</p><blockList class="unordered none" ukl:Name="UnorderedList" ukl:Decoration="none"><item><p>rule 1.9 (prescribed format of documents), and</p></item><item><p>rule 1.10 (variations from prescribed contents).</p></item></blockList></content></subparagraph><subparagraph eId="schedule-4-paragraph-85-2"><num>(2)</num><content><p>In their application by virtue of sub-paragraph (1), a reference in rule 1.9 or 1.10 to the requirements of a rule is to be read as a reference to the requirements of the provision of this Part of this Schedule.</p></content></subparagraph></paragraph>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1"><num>(b)</num><content><p>section 19(2),</p></content></level>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-4-paragraph-31" class="schProv1"><num>31</num><subparagraph eId="schedule-4-paragraph-31-1"><num>(1)</num><content><p>A notice under section <ref href="#d25e1464">A17</ref><ref href="#d25e1468">(1)</ref> of the Insolvency Act 1986 must be given within the period of 5 days beginning with the day on which the duty to give the notice arises.</p></content></subparagraph><subparagraph eId="schedule-4-paragraph-31-2"><num>(2)</num><intro><p>The notice must state—</p></intro><level class="para1" eId="schedule-4-paragraph-31-2-a"><num>(a)</num><content><p>the name of the company to which it relates, and</p></content></level><level class="para1" eId="schedule-4-paragraph-31-2-b"><num>(b)</num><content><p>the provision by virtue of which the moratorium was extended or came to an end.</p></content></level></subparagraph></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-4-paragraph-37" class="schProv1"><num>37</num><intro><p>For the purposes of deciding whether to bring a moratorium to an end under section <ref href="#d25e3388">A38</ref><ref href="#d25e3419">(1)(d)</ref> of the Insolvency Act 1986 the monitor must disregard—</p></intro><level class="para1" eId="schedule-4-paragraph-37-a"><num>(a)</num><content><p>any debts that the monitor has reasonable grounds for thinking are likely to be paid within 5 days of the decision, and</p></content></level><level class="para1" eId="schedule-4-paragraph-37-b"><num>(b)</num><content><p>any debts in respect of which the creditor has agreed to defer payment until a time that is later than the decision.</p></content></level></paragraph>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="schedule-4-paragraph-37-a"><num>(a)</num><content><p>any debts that the monitor has reasonable grounds for thinking are likely to be paid within 5 days of the decision, and</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="schedule-4-paragraph-37-b"><num>(b)</num><content><p>any debts in respect of which the creditor has agreed to defer payment until a time that is later than the decision.</p></content></level>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-4-paragraph-40" class="schProv1"><num>40</num><subparagraph eId="schedule-4-paragraph-40-1"><num>(1)</num><content><p>An administrator or liquidator of a company may apply to the court on the ground that remuneration charged by the monitor in relation to a prior moratorium for the company under Part A1 of the Insolvency Act 1986 was excessive.</p></content></subparagraph><subparagraph eId="schedule-4-paragraph-40-2"><num>(2)</num><content><p>An application under this paragraph may not be made after the end of the period of 2 years beginning with the day after the moratorium ends.</p></content></subparagraph><subparagraph eId="schedule-4-paragraph-40-3"><num>(3)</num><intro><p>On an application under this paragraph the court may—</p></intro><level class="para1" eId="schedule-4-paragraph-40-3-a"><num>(a)</num><content><p>dismiss the application,</p></content></level><level class="para1" eId="schedule-4-paragraph-40-3-b"><num>(b)</num><content><p>order the monitor to repay some or all of the remuneration, or</p></content></level><level class="para1" eId="schedule-4-paragraph-40-3-c"><num>(c)</num><content><p>make such other order as it thinks fit.</p></content></level></subparagraph><subparagraph eId="schedule-4-paragraph-40-4"><num>(4)</num><content><p>The costs of an application under this paragraph are, unless the court orders otherwise, to be paid as an expense of the administration or liquidation.</p></content></subparagraph></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-4-paragraph-43" class="schProv1"><num>43</num><subparagraph eId="schedule-4-paragraph-43-1"><num>(1)</num><intro><p>Where paragraph 64A(1) of Schedule B1 to the Insolvency Act 1986 applies, the moratorium debts and pre-moratorium debts mentioned in paragraph 64A(2) of that Schedule are payable in the following order of priority—</p></intro><level class="para1" eId="schedule-4-paragraph-43-1-a"><num>(a)</num><content><p>amounts payable in respect of goods or services supplied during the moratorium under a contract where, but for section 233B(3) or (4) of that Act, the supplier would not have had to make that supply;</p></content></level><level class="para1" eId="schedule-4-paragraph-43-1-b"><num>(b)</num><content><p>wages or salary arising under a contract of employment;</p></content></level><level class="para1" eId="schedule-4-paragraph-43-1-c"><num>(c)</num><content><p>other debts or other liabilities apart from the monitor’s remuneration or expenses;</p></content></level><level class="para1" eId="schedule-4-paragraph-43-1-d"><num>(d)</num><content><p>the monitor’s remuneration or expenses.</p></content></level></subparagraph><subparagraph eId="schedule-4-paragraph-43-2"><num>(2)</num><content><p>In this paragraph “wages or salary” has the same meaning as in section <ref href="#d25e1722">A18</ref> of the Insolvency Act 1986.</p></content></subparagraph></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" xmlns:default="http://www.w3.org/1999/xhtml" xmlns:fo="http://www.w3.org/1999/XSL/Format" eId="schedule-4-paragraph-47" class="schProv1"><num>47</num><subparagraph eId="schedule-4-paragraph-47-1"><num>(1)</num><intro><p>The provisions of the England and Wales Insolvency Rules specified in the Table apply, so far as relevant, for the purposes of proceedings under—</p></intro><level class="para1" eId="schedule-4-paragraph-47-1-a"><num>(a)</num><content><p>Part A1 of the Insolvency Act 1986;</p></content></level><level class="para1" eId="schedule-4-paragraph-47-1-b"><num>(b)</num><content><p>this Part of this Schedule.</p></content></level></subparagraph><subparagraph eId="schedule-4-paragraph-47-2"><num>(2)</num><intro><p>In their application by virtue of sub-paragraph (1), the provisions listed in the Table have effect with—</p></intro><level class="para1" eId="schedule-4-paragraph-47-2-a"><num>(a)</num><content><p>the modification set out in sub-paragraph <ref href="#schedule-4-paragraph-47-3">(3)</ref>,</p></content></level><level class="para1" eId="schedule-4-paragraph-47-2-b"><num>(b)</num><content><p>the modifications specified in the Table, and</p></content></level><level class="para1" eId="schedule-4-paragraph-47-2-c"><num>(c)</num><content><p>any other necessary modifications.</p></content></level></subparagraph><subparagraph eId="schedule-4-paragraph-47-3"><num>(3)</num><content><p>The modification is that any reference to Part 1 of the Insolvency Act 1986 includes a reference to Part A1 of that Act and this Part of this Schedule.</p></content></subparagraph><subparagraph eId="schedule-4-paragraph-47-4"><num>(4)</num><content><p>This is the Table referred to in sub-paragraphs <ref href="#schedule-4-paragraph-47-1">(1)</ref> and <ref href="#schedule-4-paragraph-47-2">(2)</ref>—</p><tblock class="table" ukl:Orientation="portrait"><foreign><default:table xmlns="http://www.w3.org/1999/xhtml"><default:col span="1" style="width:24%"/><default:col span="1" style="width:30%"/><default:col span="1" style="width:46%"/><default:thead><default:tr><default:th><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Insolvency Rules</p></default:th><default:th xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Topic</p></default:th><default:th xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Modifications</p></default:th></default:tr></default:thead><default:tbody><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-top-style="solid" fo:border-top-width="0.5pt" fo:border-top-color="black" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Rule 1.35</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black" fo:border-top-style="solid" fo:border-top-width="0.5pt" fo:border-top-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Standard contents and authentication of applications</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black" fo:border-top-style="solid" fo:border-top-width="0.5pt" fo:border-top-color="black"/></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Rules 12.1 and 12.2</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Court rules and practice to apply etc</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"/></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Rule 12.3 and Schedule 6</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Commencement of proceedings</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"/></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Rules 12.7 to 12.11 and 12.13</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Making applications to court: general</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Rule 12.9 has effect as if, in relation to a regulated company (within the meaning of section <ref href="#d25e4390">A49</ref> of the Insolvency Act 1986), it also required the application to be served on the appropriate regulator (within the meaning of that section).</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Rules 12.27 to 12.29</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Obtaining information and evidence</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Rule 12.29(3) has effect as if it included a reference to the monitor in relation to a moratorium.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" rowspan="2" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Rules 12.30, 12.31, 12.33 and 12.35 to 12.38</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black" rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Transfer of proceedings</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">(a) Rule 12.36(2) has effect as if the list of office-holders included the monitor in relation to a moratorium.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">(b) Rule 12.37(2) and (3) have effect as if the list of provisions included section <ref href="#d25e3488">A39</ref> of the Insolvency Act 1986.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Rules 12.39 and 12.40</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">The court file</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"/></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Rules 12.41, 12.42(5), 12.47, 12.48 and 12.50</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Costs</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Rule 12.48(2) has effect as if it required the applicant to serve a sealed copy of the application on the monitor and the company to which the moratorium relates.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Rule 12.51</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Enforcement of court orders</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"/></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Rules 12.58, 12.59 and 12.61 and Schedule 10</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Appeals</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"/></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Rules 12.63 to 12.65</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Court orders, formal defects and shorthand writers</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"/></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Schedule 4, paragraphs 1, 4, 5 and 6</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"/><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">These paragraphs of Schedule 4 apply only for the purposes of the rules applied by this Table.</p></default:td></default:tr></default:tbody></default:table></foreign></tblock></content></subparagraph></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-4-paragraph-50" class="schProv1"><num>50</num><content><p>In this Part of this Schedule “the England and Wales Insolvency Rules” means the Insolvency (England and Wales) Rules 2016.</p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-9-paragraph-27" class="schProv1"><num>27</num><content><p>In Part 2 of Schedule 20 to the Energy Act 2004 (conduct of energy administration: modifications of Schedule B1 to the Insolvency Act 1986), in paragraph 16(2), after “section 899” insert “or 901F”.</p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-9-paragraph-30" class="schProv1"><num>30</num><content><p>The Companies Act 2006 is amended as follows.</p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-9-paragraph-42" class="schProv1"><num>42</num><content><p>The Corporation Tax Act 2010 is amended as follows.</p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-10-paragraph-21" class="schProv1"><num>21</num><subparagraph eId="schedule-10-paragraph-21-1"><num>(1)</num><intro><p>In this Part of this Schedule, “relevant period” means the period which—</p></intro><level class="para1" eId="schedule-10-paragraph-21-1-a"><num>(a)</num><content><p>begins with 27 April 2020, and</p></content></level><level class="para1" eId="schedule-10-paragraph-21-1-b"><num>(b)</num><content><p>ends with 30 September 2020.</p></content></level></subparagraph><subparagraph eId="schedule-10-paragraph-21-2"><num>(2)</num><intro><p>For the purposes of this Part of this Schedule, references to a petition presented by a creditor—</p></intro><level class="para1" eId="schedule-10-paragraph-21-2-a"><num>(a)</num><content><p>do not include a petition presented by one or more creditors together with one or more other persons, but</p></content></level><level class="para1" eId="schedule-10-paragraph-21-2-b"><num>(b)</num><content><p>subject to that, do include a petition presented by more than one creditor (in which case the condition referred to in paragraph 3(2) or (4) or 4(2) or (4) must be met in relation to each creditor presenting the petition).</p></content></level></subparagraph><subparagraph eId="schedule-10-paragraph-21-3"><num>(3)</num><intro><p>For the purposes of this Part of this Schedule—</p></intro><hcontainer name="definition"><content><p>“the 2016 Insolvency Rules” means the Insolvency (England and Wales) Rules 2016 (<ref eId="c00110" href="http://www.legislation.gov.uk/id/uksi/2016/1024">S.I. 2016/1024</ref>);</p></content></hcontainer><hcontainer name="definition"><content><p>“coronavirus” means severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2);</p></content></hcontainer><hcontainer name="definition"><content><p>coronavirus has a “financial effect” on a company if (and only if) the company’s financial position worsens in consequence of, or for reasons relating to, coronavirus;</p></content></hcontainer><hcontainer name="definition"><content><p>“interim liquidator” means a person appointed under section 138(1) of the 1986 Act.</p></content></hcontainer></subparagraph></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-4-paragraph-32" class="schProv1"><num>32</num><subparagraph eId="schedule-4-paragraph-32-1"><num>(1)</num><content><p>A notice under section <ref href="#d25e1464">A17</ref><ref href="#d25e1610">(2)</ref> or <ref href="#d25e1627">(3)</ref> of the Insolvency Act 1986 must be given within the period of 5 days beginning with the day on which the duty to give the notice arises.</p></content></subparagraph><subparagraph eId="schedule-4-paragraph-32-2"><num>(2)</num><intro><p>The notice must state—</p></intro><level class="para1" eId="schedule-4-paragraph-32-2-a"><num>(a)</num><content><p>the provision under which it is given,</p></content></level><level class="para1" eId="schedule-4-paragraph-32-2-b"><num>(b)</num><content><p>the nature of the notice,</p></content></level><level class="para1" eId="schedule-4-paragraph-32-2-c"><num>(c)</num><content><p>the date of the notice,</p></content></level><level class="para1" eId="schedule-4-paragraph-32-2-d"><num>(d)</num><content><p>that it is given by the monitor acting in that capacity,</p></content></level><level class="para1" eId="schedule-4-paragraph-32-2-e"><num>(e)</num><content><p>the name and contact details of the monitor, and</p></content></level><level class="para1" eId="schedule-4-paragraph-32-2-f"><num>(f)</num><content><p>the identification details for the company to which it relates.</p></content></level></subparagraph><subparagraph eId="schedule-4-paragraph-32-3"><num>(3)</num><content><p>A notice under section <ref href="#d25e1464">A17</ref><ref href="#d25e1610">(2)</ref> or <ref href="#d25e1627">(3)</ref> of the Insolvency Act 1986 that is given to the registrar of companies must be authenticated by or on behalf of the monitor.</p></content></subparagraph><subparagraph eId="schedule-4-paragraph-32-4"><num>(4)</num><content><p>Rule 1.5 of the England and Wales Insolvency Rules applies for the purposes of authentication under sub-paragraph <ref href="#schedule-4-paragraph-32-3">(3)</ref>.</p></content></subparagraph></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" eId="schedule-9-paragraph-31" class="schProv1"><num>31</num><content><p><mod>In section 32(1) (constitutional documents to be provided to members), after paragraph (d) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="double"><level class="para1"><num>(da)</num><content><p>a copy of any court order under section 901F (order sanctioning compromise or arrangement for company in financial difficulty) or section 901J (order facilitating reconstruction or amalgamation);</p></content></level></quotedStructure><inline name="appendText">.</inline></mod></p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-9-paragraph-43" class="schProv1"><num>43</num><subparagraph eId="schedule-9-paragraph-43-1"><num>(1)</num><content><p>Part 7ZA (restrictions on obtaining certain deductions) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-9-paragraph-43-2"><num>(2)</num><content><p>In section 269ZH (meaning of “insolvency procedures”), in subsection (5)(a), after “Part 26” insert “or 26A”.</p></content></subparagraph><subparagraph eId="schedule-9-paragraph-43-3"><num>(3)</num><content><p>In section 269ZY (meaning of “relevant reversal credit”), in subsection (8)(b), after “Part 26” insert “or 26A”.</p></content></subparagraph></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-4-paragraph-33" class="schProv1"><num>33</num><intro><p>Where a moratorium comes to an end under section <ref href="#d25e1400">A16</ref> of the Insolvency Act 1986 because the company has entered into a relevant insolvency procedure within the meaning of that section, the notices under section <ref href="#d25e1464">A17</ref><ref href="#d25e1468">(1)</ref> and <ref href="#d25e1610">(2)</ref> must state—</p></intro><level class="para1" eId="schedule-4-paragraph-33-a"><num>(a)</num><content><p>the date on which the company entered into the relevant insolvency procedure, and</p></content></level><level class="para1" eId="schedule-4-paragraph-33-b"><num>(b)</num><content><p>the name and contact details of the supervisor of the voluntary arrangement, the administrator or the liquidator.</p></content></level></paragraph>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="schedule-4-paragraph-33-a"><num>(a)</num><content><p>the date on which the company entered into the relevant insolvency procedure, and</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="schedule-4-paragraph-33-b"><num>(b)</num><content><p>the name and contact details of the supervisor of the voluntary arrangement, the administrator or the liquidator.</p></content></level>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-9-paragraph-32" class="schProv1"><num>32</num><content><p>In section 93 (recent allotment of shares for non-cash consideration), in subsection (7)(b)(i), after “Part 26” insert “or 26A”.</p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-9-paragraph-44" class="schProv1"><num>44</num><content><p>In Part 14 (change in company ownership), in section 724A (disregard of change in parent company), in subsection (7)(a), after “Part 26” insert “or 26A”.</p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-4-paragraph-34" class="schProv1"><num>34</num><subparagraph eId="schedule-4-paragraph-34-1"><num>(1)</num><content><p>A notice under section <ref href="#d25e1464">A17</ref><ref href="#d25e1633">(4)</ref> of the Insolvency Act 1986 must be given within the period of 3 business days beginning with the day on which the notice under section <ref href="#d25e3388">A38</ref>(1) of that Act is filed with the court.</p></content></subparagraph><subparagraph eId="schedule-4-paragraph-34-2"><num>(2)</num><content><p>The notice under section <ref href="#d25e1464">A17</ref><ref href="#d25e1633">(4)</ref> of that Act must be accompanied by the notice that the monitor has filed with the court under section <ref href="#d25e3388">A38</ref>(1) of that Act.</p></content></subparagraph></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" eId="schedule-9-paragraph-33" class="schProv1"><num>33</num><subparagraph eId="schedule-9-paragraph-33-1"><num>(1)</num><content><p>Part 17 (a company’s share capital) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-9-paragraph-33-2"><num>(2)</num><content><p><mod>In section 549 (exercise by directors of powers to allot shares etc), after subsection (3) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="double"><subsection><num>(3A)</num><content><p>Subsection (1) does not apply to anything done for the purposes of a compromise or arrangement sanctioned in accordance with Part 26A (arrangements and reconstructions: companies in financial difficulty).</p></content></subsection></quotedStructure></mod></p></content></subparagraph><subparagraph eId="schedule-9-paragraph-33-3"><num>(3)</num><intro><p>In Chapter 3 (allotment of equity securities: existing shareholders’ right of pre-emption)—</p></intro><level class="para1" eId="schedule-9-paragraph-33-3-a"><num>(a)</num><content><p>in section 561 (existing shareholders’ right of pre-emption), in subsection (5)(a), for “566” substitute “566A”;</p></content></level><level class="para1" eId="schedule-9-paragraph-33-3-b"><num>(b)</num><content><p><mod>after section 566 insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="double"><section><num>566A</num><heading>Exception to pre-emption right: companies in financial difficulty</heading><content><p>Section 561(1) (existing shareholders’ right of pre-emption) does not apply to an allotment of equity securities that is carried out as part of a compromise or arrangement sanctioned in accordance with Part 26A (arrangements and reconstructions: companies in financial difficulty).</p></content></section></quotedStructure></mod></p></content></level></subparagraph><subparagraph eId="schedule-9-paragraph-33-4"><num>(4)</num><content><p>In section 594 (exception to valuation requirement: arrangement with another company), in subsection (6)(a)(i), after “Part 26” insert “or 26A”.</p></content></subparagraph><subparagraph eId="schedule-9-paragraph-33-5"><num>(5)</num><content><p>In section 616(1) (interpretation of Chapter 7), in paragraph (a) of the definition of “arrangement”, after “Part 26” insert “or 26A”.</p></content></subparagraph><subparagraph eId="schedule-9-paragraph-33-6"><num>(6)</num><content><p>In section 617 (alteration of share capital of limited company), in subsection (5)(e)(i), after “Part 26” insert “or 26A”.</p></content></subparagraph><subparagraph eId="schedule-9-paragraph-33-7"><num>(7)</num><intro><p>In section 632 (variation of class rights: saving for court’s powers under other provisions)—</p></intro><level class="para1" eId="schedule-9-paragraph-33-7-a"><num>(a)</num><content><p>in the entry for Part 26, after “reconstructions” insert “: general”;</p></content></level><level class="para1" eId="schedule-9-paragraph-33-7-b"><num>(b)</num><content><p><mod>after that entry (but before the “or”) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="double"><blockList class="unordered none" ukl:Name="UnorderedList" ukl:Decoration="none"><item><p>Part 26A (arrangements and reconstructions: companies in financial difficulty),</p></item></blockList></quotedStructure><inline name="appendText">.</inline></mod></p></content></level></subparagraph><subparagraph eId="schedule-9-paragraph-33-8"><num>(8)</num><intro><p>In section 641 (circumstances in which a company may reduce its share capital)—</p></intro><level class="para1" eId="schedule-9-paragraph-33-8-a"><num>(a)</num><content><p>in subsection (2C), in the definition of “scheme”, after “Part 26” insert “or 26A”;</p></content></level><level class="para1" eId="schedule-9-paragraph-33-8-b"><num>(b)</num><content><p>in subsection (7), for the words from “the phrase” to “Part 26”” substitute “the phrases “sanctioned by the court under Part 26” and “sanctioned by the court under Part 26A””.</p></content></level></subparagraph><subparagraph eId="schedule-9-paragraph-33-9"><num>(9)</num><intro><p>In section 649 (registration of order and statement of capital), in subsection (3)—</p></intro><level class="para1" eId="schedule-9-paragraph-33-9-a"><num>(a)</num><content><p>in paragraph (a), after “reconstructions” insert “: general”;</p></content></level><level class="para1" eId="schedule-9-paragraph-33-9-b"><num>(b)</num><content><p><mod>after that paragraph insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="double"><level class="para1"><num>(aa)</num><intro><p>in the case of a reduction of share capital that forms part of a compromise or arrangement sanctioned by the court under Part 26A (arrangements and reconstructions: companies in financial difficulty)—</p></intro><level class="para2"><num>(i)</num><content><p>in the case of any company other than one to which sub-paragraph (ii) applies, on delivery of the order and statement of capital to the registrar;</p></content></level><level class="para2"><num>(ii)</num><content><p>in the case of an overseas company that is not required to register particulars under section 1046, on publication of the order and statement of capital in the Gazette;</p></content></level><level class="para2"><num>(iii)</num><content><p>in either case, if the court so orders, on the registration of the order and statement of capital;</p></content></level></level></quotedStructure><inline name="appendText">;</inline></mod></p></content></level><level class="para1" eId="schedule-9-paragraph-33-9-c"><num>(c)</num><content><p>in paragraph (b), for “any other case” substitute “any case not falling within paragraph (a) or (aa)”.</p></content></level></subparagraph></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-9-paragraph-34" class="schProv1"><num>34</num><content><p>In section 681 (unconditional exceptions to prohibition against financial assistance), in subsection (2)(e), after “Part 26” insert “or 26A”.</p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" eId="schedule-9-paragraph-35" class="schProv1"><num>35</num><subparagraph eId="schedule-9-paragraph-35-1"><num>(1)</num><content><p>Part 26 (arrangements and reconstructions) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-9-paragraph-35-2"><num>(2)</num><content><p>The heading becomes “<inline name="smallCaps">Arrangements and reconstructions: general</inline>”.</p></content></subparagraph><subparagraph eId="schedule-9-paragraph-35-3"><num>(3)</num><content><p><mod>In section 896, at the end insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="double"><subsection><num>(4)</num><content><p>This section is subject to section 899A (moratorium debts, etc).</p></content></subsection></quotedStructure></mod></p></content></subparagraph><subparagraph eId="schedule-9-paragraph-35-4"><num>(4)</num><intro><p>In section 899 (court sanction for compromise or arrangement)—</p></intro><level class="para1" eId="schedule-9-paragraph-35-4-a"><num>(a)</num><content><p><mod>after subsection (1) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="double"><subsection><num>(1A)</num><content><p>Subsection (1) is subject to section 899A (moratorium debts, etc).</p></content></subsection></quotedStructure><inline name="appendText">;</inline></mod></p></content></level><level class="para1" eId="schedule-9-paragraph-35-4-b"><num>(b)</num><content><p>omit subsection (5).</p></content></level></subparagraph><subparagraph eId="schedule-9-paragraph-35-5"><num>(5)</num><content><p><mod>After section 899 insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="double"><hcontainer name="crossheading" ukl:Name="Pblock"><heading>Special cases</heading><section><num>899A</num><heading>Moratorium debts, etc</heading><subsection><num>(1)</num><intro><p>This section applies where—</p></intro><level class="para1"><num>(a)</num><content><p>an application under section 896 in respect of a compromise or arrangement is made before the end of the period of 12 weeks beginning with the day after the end of any moratorium for the company under Part A1 of the Insolvency Act 1986 or Part 1A of the Insolvency (Northern Ireland) Order 1989 (<ref eId="c00106" href="http://www.legislation.gov.uk/id/nisi/1989/2405">S.I. 1989/2405 (N.I. 19)</ref>), and</p></content></level><level class="para1"><num>(b)</num><content><p>the creditors with whom the compromise or arrangement is proposed include any relevant creditors (see subsection (2)).</p></content></level></subsection><subsection><num>(2)</num><intro><p>In this section “relevant creditor” means—</p></intro><level class="para1"><num>(a)</num><content><p>a creditor in respect of a moratorium debt, or</p></content></level><level class="para1"><num>(b)</num><content><p>a creditor in respect of a priority pre-moratorium debt.</p></content></level></subsection><subsection><num>(3)</num><content><p>The relevant creditors may not participate in the meeting summoned under section 896.</p></content></subsection><subsection><num>(4)</num><intro><p>For the purposes of section 897 (statement to be circulated or made available)—</p></intro><level class="para1"><num>(a)</num><content><p>the requirement in section 897(1)(a) is to be read as including a requirement to send each relevant creditor a statement complying with section 897;</p></content></level><level class="para1"><num>(b)</num><content><p>any reference to creditors entitled to attend the meeting summoned under section 896 includes a reference to relevant creditors.</p></content></level></subsection><subsection><num>(5)</num><content><p>The court may not sanction the compromise or arrangement under section 899 if it includes provision in respect of any relevant creditor who has not agreed to it.</p></content></subsection><subsection><num>(6)</num><intro><p>In this section—</p></intro><hcontainer name="definition"><intro><p>“moratorium debt”—</p></intro><level class="para1"><num>(a)</num><content><p>in the case of a moratorium under Part A1 of the Insolvency Act 1986, has the same meaning as in section 174A of that Act;</p></content></level><level class="para1"><num>(b)</num><content><p>in the case of a moratorium under Part 1A of the Insolvency (Northern Ireland) Order 1989, has the same meaning as in Article 148A of that Order;</p></content></level></hcontainer><hcontainer name="definition"><intro><p>“priority pre-moratorium debt”—</p></intro><level class="para1"><num>(a)</num><content><p>in the case of a moratorium under Part A1 of the Insolvency Act 1986, has the same meaning as in section 174A of that Act;</p></content></level><level class="para1"><num>(b)</num><content><p>in the case of a moratorium under Part 1A of the Insolvency (Northern Ireland) Order 1989, has the same meaning as in Article 148A of that Order.</p></content></level></hcontainer></subsection></section></hcontainer></quotedStructure></mod></p></content></subparagraph></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" eId="schedule-9-paragraph-36" class="schProv1"><num>36</num><subparagraph eId="schedule-9-paragraph-36-1"><num>(1)</num><content><p>Part 27 (mergers and divisions of public companies) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-9-paragraph-36-2"><num>(2)</num><intro><p>In section 903 (relationship of Part 27 to Part 26)—</p></intro><level class="para1" eId="schedule-9-paragraph-36-2-a"><num>(a)</num><content><p>in the heading, for “<b>Part 26</b>” substitute “<b>Parts 26 and 26A</b>”;</p></content></level><level class="para1" eId="schedule-9-paragraph-36-2-b"><num>(b)</num><content><p>in subsection (1), for “Part 26 (arrangements and reconstructions)” substitute “Part 26 (arrangements and reconstructions: general) or Part 26A (arrangements and reconstructions: companies in financial difficulty)”;</p></content></level><level class="para1" eId="schedule-9-paragraph-36-2-c"><num>(c)</num><content><p>in subsections (2) and (3), for “Part 26” substitute “Parts 26 and 26A”.</p></content></level></subparagraph><subparagraph eId="schedule-9-paragraph-36-3"><num>(3)</num><content><p>In section 907 (approval of members of merging companies), in subsection (2), after “917” insert “, 917A”.</p></content></subparagraph><subparagraph eId="schedule-9-paragraph-36-4"><num>(4)</num><intro><p>In section 908 (directors’ explanatory report (merger))—</p></intro><level class="para1" eId="schedule-9-paragraph-36-4-a"><num>(a)</num><content><p><mod>in subsection (2), for paragraph (a) (but not the “and” following it) substitute—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="double"><level class="para1"><num>(a)</num><content><p>the required statement explaining the effect of the compromise or arrangement,</p></content></level></quotedStructure><inline name="appendText">;</inline></mod></p></content></level><level class="para1" eId="schedule-9-paragraph-36-4-b"><num>(b)</num><content><p><mod>after that subsection insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="double"><subsection><num>(2A)</num><intro><p>In subsection (2) “the required statement explaining the effect of the compromise or arrangement” means—</p></intro><level class="para1"><num>(a)</num><content><p>in a case where a meeting is summoned under section 896 in relation to the compromise or arrangement, the statement required by section 897;</p></content></level><level class="para1"><num>(b)</num><content><p>in a case where a meeting is summoned under section 901C in relation to the compromise or arrangement, the statement required by section 901D.</p></content></level></subsection></quotedStructure></mod></p></content></level></subparagraph><subparagraph eId="schedule-9-paragraph-36-5"><num>(5)</num><intro><p>In section 912 (approval of articles of new transferee company (merger))—</p></intro><level class="para1" eId="schedule-9-paragraph-36-5-a"><num>(a)</num><content><p>the wording of the section becomes subsection (1) of that section;</p></content></level><level class="para1" eId="schedule-9-paragraph-36-5-b"><num>(b)</num><content><p><mod>at the end of that subsection insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="double"><p>This is subject to subsection (2).</p></quotedStructure><inline name="appendText">;</inline></mod></p></content></level><level class="para1" eId="schedule-9-paragraph-36-5-c"><num>(c)</num><content><p><mod>after that subsection insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="double"><subsection><num>(2)</num><content><p>In the case of a compromise or arrangement to be sanctioned under Part 26A, it is not necessary for the articles of the transferee company (or a draft of them) to be approved by ordinary resolution of the company in respect of which the compromise or arrangement is proposed.</p></content></subsection></quotedStructure></mod></p></content></level></subparagraph><subparagraph eId="schedule-9-paragraph-36-6"><num>(6)</num><intro><p>In section 915 (circumstances in which certain particulars and reports not required (merger))—</p></intro><level class="para1" eId="schedule-9-paragraph-36-6-a"><num>(a)</num><content><p>in subsection (3), for “Section 897” substitute “In a case where a meeting has been summoned under section 896 in relation to the compromise or arrangement, section 897”;</p></content></level><level class="para1" eId="schedule-9-paragraph-36-6-b"><num>(b)</num><content><p><mod>after that subsection insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="double"><subsection><num>(3A)</num><content><p>In a case where a meeting has been summoned under section 901C in relation to the compromise or arrangement, section 901D (explanatory statement to be circulated or made available) does not apply.</p></content></subsection></quotedStructure></mod></p></content></level></subparagraph><subparagraph eId="schedule-9-paragraph-36-7"><num>(7)</num><content><p>In section 915A (other circumstances in which reports and inspection not required (merger)), in subsection (5), after “section 900(2)” insert “or, as the case may be, section 901J(2)”.</p></content></subparagraph><subparagraph eId="schedule-9-paragraph-36-8"><num>(8)</num><content><p><mod>Before section 918 (but after the heading “<i>Other exceptions</i>”) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="double"><section><num>917A</num><heading>Other circumstances in which meeting of members of transferor company not required (merger)</heading><content><p>In the case of a compromise or arrangement to be sanctioned under Part 26A, it is not necessary for the scheme to be approved by the members of the company in respect of which the compromise or arrangement is proposed.</p></content></section></quotedStructure></mod></p></content></subparagraph><subparagraph eId="schedule-9-paragraph-36-9"><num>(9)</num><intro><p>In section 918A (agreement to dispense with reports etc (merger))—</p></intro><level class="para1" eId="schedule-9-paragraph-36-9-a"><num>(a)</num><content><p>in subsection (2), for “the application to the court under section 896” substitute “the relevant application”;</p></content></level><level class="para1" eId="schedule-9-paragraph-36-9-b"><num>(b)</num><content><p><mod>after that subsection insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="double"><subsection><num>(3)</num><intro><p>In subsection (2) “the relevant application” means—</p></intro><level class="para1"><num>(a)</num><content><p>in the case of a compromise or arrangement to be sanctioned under Part 26, the application to the court under section 896;</p></content></level><level class="para1"><num>(b)</num><content><p>in the case of a compromise or arrangement to be sanctioned under Part 26A, the application to the court under section 901C(1).</p></content></level></subsection></quotedStructure></mod></p></content></level></subparagraph><subparagraph eId="schedule-9-paragraph-36-10"><num>(10)</num><intro><p>In section 922 (approval of members of companies involved in the division)—</p></intro><level class="para1" eId="schedule-9-paragraph-36-10-a"><num>(a)</num><content><p>in subsection (1), for “compromise or arrangement” substitute “scheme”;</p></content></level><level class="para1" eId="schedule-9-paragraph-36-10-b"><num>(b)</num><content><p>in subsection (2), after “931” insert “, 931A”.</p></content></level></subparagraph><subparagraph eId="schedule-9-paragraph-36-11"><num>(11)</num><intro><p>In section 923 (directors’ explanatory report (division))—</p></intro><level class="para1" eId="schedule-9-paragraph-36-11-a"><num>(a)</num><content><p><mod>in subsection (2), for paragraph (a) (but not the “and” following it) substitute—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="double"><level class="para1"><num>(a)</num><content><p>the required statement explaining the effect of the compromise or arrangement,</p></content></level></quotedStructure><inline name="appendText">;</inline></mod></p></content></level><level class="para1" eId="schedule-9-paragraph-36-11-b"><num>(b)</num><content><p><mod>after that subsection insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="double"><subsection><num>(2A)</num><intro><p>In subsection (2) “the required statement explaining the effect of the compromise or arrangement” means—</p></intro><level class="para1"><num>(a)</num><content><p>in a case where a meeting is summoned under section 896 in relation to the compromise or arrangement, the statement required by section 897;</p></content></level><level class="para1"><num>(b)</num><content><p>in a case where a meeting is summoned under section 901C in relation to the compromise or arrangement, the statement required by section 901D.</p></content></level></subsection></quotedStructure></mod></p></content></level></subparagraph><subparagraph eId="schedule-9-paragraph-36-12"><num>(12)</num><content><p>In section 925 (supplementary accounting statement (division)), in subsection (1)(b), after “931” insert “, 931A”.</p></content></subparagraph><subparagraph eId="schedule-9-paragraph-36-13"><num>(13)</num><intro><p>In section 928 (approval of articles of new transferee company (division))—</p></intro><level class="para1" eId="schedule-9-paragraph-36-13-a"><num>(a)</num><content><p>the wording of the section becomes subsection (1) of that section;</p></content></level><level class="para1" eId="schedule-9-paragraph-36-13-b"><num>(b)</num><content><p><mod>after that subsection insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="double"><subsection><num>(2)</num><content><p>Subsection (1) does not apply in the case of a compromise or arrangement to be sanctioned under Part 26A.</p></content></subsection></quotedStructure></mod></p></content></level></subparagraph><subparagraph eId="schedule-9-paragraph-36-14"><num>(14)</num><content><p><mod>Before section 932 (but after the heading “<i>Other exceptions</i>”) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="double"><section><num>931A</num><heading>Other circumstances in which meeting of members of transferor company not required (division)</heading><content><p>In the case of a compromise or arrangement to be sanctioned under Part 26A, it is not necessary for the scheme to be approved by the members of the transferor company.</p></content></section></quotedStructure></mod></p></content></subparagraph><subparagraph eId="schedule-9-paragraph-36-15"><num>(15)</num><intro><p>In section 933 (agreement to dispense with reports etc (division))—</p></intro><level class="para1" eId="schedule-9-paragraph-36-15-a"><num>(a)</num><content><p>in subsection (3), for “the application to the court under section 896” substitute “the relevant application”;</p></content></level><level class="para1" eId="schedule-9-paragraph-36-15-b"><num>(b)</num><content><p><mod>after that subsection insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="double"><subsection><num>(4)</num><intro><p>In subsection (3) “the relevant application” means—</p></intro><level class="para1"><num>(a)</num><content><p>in the case of a compromise or arrangement to be sanctioned under Part 26, the application to the court under section 896;</p></content></level><level class="para1"><num>(b)</num><content><p>in the case of a compromise or arrangement to be sanctioned under Part 26A, the application to the court under section 901C(1).</p></content></level></subsection></quotedStructure></mod></p></content></level></subparagraph><subparagraph eId="schedule-9-paragraph-36-16"><num>(16)</num><content><p>In section 939 (court to fix date for transfer of undertaking etc of transferor company), in subsection (1)(b), after “section 900” insert “or, as the case may be, section 901J”.</p></content></subparagraph><subparagraph eId="schedule-9-paragraph-36-17"><num>(17)</num><intro><p>In section 940 (liability of transferee companies for each other’s defaults)—</p></intro><level class="para1" eId="schedule-9-paragraph-36-17-a"><num>(a)</num><content><p>in subsection (2), after “If” insert “, in the case of a compromise or arrangement to be sanctioned under Part 26,”;</p></content></level><level class="para1" eId="schedule-9-paragraph-36-17-b"><num>(b)</num><content><p><mod>after that subsection insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="double"><subsection><num>(2A)</num><content><p>If, in the case of a compromise or arrangement to be sanctioned under Part 26A, a number representing 75% in value of the creditors or any class of creditors of the transferor company, present and voting either in person or by proxy at a meeting summoned for the purposes of agreeing to the scheme, so agree, subsection (1) does not apply in relation to the liabilities owed to the creditors or that class of creditors.</p></content></subsection></quotedStructure></mod></p></content></level></subparagraph></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-9-paragraph-37" class="schProv1"><num>37</num><subparagraph eId="schedule-9-paragraph-37-1"><num>(1)</num><content><p>In Part 31 (dissolution and restoration to the register), Chapter 1 (striking off) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-9-paragraph-37-2"><num>(2)</num><content><p>In section 1005 (circumstances in which application for voluntary striking off may not be made: other proceedings not concluded), in subsection (1)(a), after “Part 26” insert “or 26A”.</p></content></subparagraph><subparagraph eId="schedule-9-paragraph-37-3"><num>(3)</num><content><p>In section 1009 (circumstances in which application for voluntary striking off to be withdrawn), in subsection (1)(b), after “Part 26” insert “or 26A”.</p></content></subparagraph></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-9-paragraph-38" class="schProv1"><num>38</num><content><p>In section 1078 (documents subject to disclosure requirements), in subsection (3), for “section 899 or 900” substitute “section 899, 900, 901F or 901J”.</p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" xmlns:default="http://www.w3.org/1999/xhtml" xmlns:fo="http://www.w3.org/1999/XSL/Format" eId="schedule-9-paragraph-39" class="schProv1"><num>39</num><subparagraph eId="schedule-9-paragraph-39-1"><num>(1)</num><content><p>Schedule 8 (index of defined expressions) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-9-paragraph-39-2"><num>(2)</num><content><p><mod>In the entry for “arrangement”, after the entry for Part 26 insert—<quotedStructure startQuote="“" endQuote="”" uk:context="schedule" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="schedule" ukl:Format="double"><tblock class="table" ukl:Orientation="portrait"><foreign><default:table xmlns="http://www.w3.org/1999/xhtml"><default:col span="1" style="width:50%"/><default:col span="1" style="width:50%"/><default:tbody><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">—in Part 26A</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">section 901A(4)</p></default:td></default:tr></default:tbody></default:table></foreign></tblock></quotedStructure><inline name="appendText">.</inline></mod></p></content></subparagraph><subparagraph eId="schedule-9-paragraph-39-3"><num>(3)</num><content><p><mod>In the entry for “company”, after the entry for Part 26 insert—<quotedStructure startQuote="“" endQuote="”" uk:context="schedule" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="schedule" ukl:Format="double"><tblock class="table" ukl:Orientation="portrait"><foreign><default:table xmlns="http://www.w3.org/1999/xhtml"><default:col span="1" style="width:50%"/><default:col span="1" style="width:50%"/><default:tbody><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">—in Part 26A</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">section 901A(4)</p></default:td></default:tr></default:tbody></default:table></foreign></tblock></quotedStructure><inline name="appendText">.</inline></mod></p></content></subparagraph></paragraph>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1"><num>(d)</num><content><p>this Act,</p></content></level>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" eId="schedule-4-paragraph-46" class="schProv1"><num>46</num><content><p>The following provisions of Chapter 9 of Part 1 of the England and Wales Insolvency Rules apply for the purposes of proceedings under Part A1 of the Insolvency Act 1986 as if rule 1.36(1) included a reference to such proceedings—</p><blockList class="unordered none" ukl:Name="UnorderedList" ukl:Decoration="none"><item><p>rule 1.36(2) (delivery to registrar of companies);</p></item><item><p>rule 1.40 (delivery of documents to authorised recipients);</p></item><item><p>rule 1.41 (delivery of documents to joint office-holders);</p></item><item><p>rule 1.42 (postal delivery of documents);</p></item><item><p>rule 1.43 (delivery by document exchange);</p></item><item><p>rule 1.44 (personal delivery of documents);</p></item><item><p>rule 1.45 (electronic delivery of documents).</p></item></blockList></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-4-paragraph-49" class="schProv1"><num>49</num><intro><p>Where a provision of this Part of this Schedule requires a document to contain contact details of a monitor or other office-holder, the following information must be given—</p></intro><level class="para1" eId="schedule-4-paragraph-49-a"><num>(a)</num><content><p>a postal address for the monitor or office-holder, and</p></content></level><level class="para1" eId="schedule-4-paragraph-49-b"><num>(b)</num><content><p>either an email address, or a telephone number, through which the monitor may be contacted.</p></content></level></paragraph>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="schedule-4-paragraph-49-a"><num>(a)</num><content><p>a postal address for the monitor or office-holder, and</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="schedule-4-paragraph-49-b"><num>(b)</num><content><p>either an email address, or a telephone number, through which the monitor may be contacted.</p></content></level>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-8-paragraph-2" class="schProv1"><num>2</num><subparagraph eId="schedule-8-paragraph-2-1"><num>(1)</num><content><p>The Department for the Economy in Northern Ireland may by regulations provide for any provision made by Part 2 of this Schedule to cease to have effect before the end of the relevant period.</p></content></subparagraph><subparagraph eId="schedule-8-paragraph-2-2"><num>(2)</num><content><p>The regulations may include transitional provision or savings.</p></content></subparagraph><subparagraph eId="schedule-8-paragraph-2-3"><num>(3)</num><content><p>The power of the Department to make regulations under this paragraph is exercisable by statutory rule for the purposes of the Statutory Rules (Northern Ireland) Order 1979 (<ref eId="c00097" href="http://www.legislation.gov.uk/id/nisi/1979/1573">S.I. 1979/1573 (N.I. 12)</ref>) (and not by statutory instrument).</p></content></subparagraph><subparagraph eId="schedule-8-paragraph-2-4"><num>(4)</num><content><p>Regulations made under this paragraph are subject to negative resolution within the meaning of section 41(6) of the Interpretation Act (Northern Ireland) 1954.</p></content></subparagraph></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-8-paragraph-6" class="schProv1"><num>6</num><subparagraph eId="schedule-8-paragraph-6-1"><num>(1)</num><intro><p>For the purposes of obtaining a moratorium under Article <ref href="#d25e5540">13B</ref> of the Insolvency (Northern Ireland) Order 1989 during the relevant period—</p></intro><level class="para1" eId="schedule-8-paragraph-6-1-a"><num>(a)</num><content><p>Article <ref href="#d25e5540">13B</ref> of that Order has effect as if paragraph <ref href="#d25e278">(1)(a)</ref> were omitted;</p></content></level><level class="para1" eId="schedule-8-paragraph-6-1-b"><num>(b)</num><content><p>Article <ref href="#d25e5705">13BC</ref><ref href="#d25e5751">(1)(e)</ref> 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”;</p></content></level><level class="para1" eId="schedule-8-paragraph-6-1-c"><num>(c)</num><content><p>Schedule ZA1 to that Order has effect as if paragraph 2(1)(b) and (2)(b) were omitted.</p></content></level></subparagraph><subparagraph eId="schedule-8-paragraph-6-2"><num>(2)</num><content><p>During the relevant period, only an overseas company may obtain a moratorium under Article <ref href="#d25e5592">13BA</ref> of the Insolvency (Northern Ireland) Order 1989.</p></content></subparagraph></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-8-paragraph-7" class="schProv1"><num>7</num><intro><p>In relation to an application for a moratorium made under Article <ref href="#d25e5592">13BA</ref> or <ref href="#d25e5647">13BB</ref> of the Insolvency (Northern Ireland) Order 1989 during the relevant period—</p></intro><level class="para1" eId="schedule-8-paragraph-7-a"><num>(a)</num><content><p>Article <ref href="#d25e5705">13BC</ref><ref href="#d25e5751">(1)(e)</ref> 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”;</p></content></level><level class="para1" eId="schedule-8-paragraph-7-b"><num>(b)</num><content><p>Schedule ZA1 to that Order has effect as if paragraph 2(1)(b) and (2)(b) were omitted.</p></content></level></paragraph>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="schedule-8-paragraph-7-a"><num>(a)</num><content><p>Article <ref href="#d25e5705">13BC</ref><ref href="#d25e5751">(1)(e)</ref> 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”;</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="schedule-8-paragraph-7-b"><num>(b)</num><content><p>Schedule ZA1 to that Order has effect as if paragraph 2(1)(b) and (2)(b) were omitted.</p></content></level>
<part xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" xmlns:default="http://www.w3.org/1999/xhtml" xmlns:fo="http://www.w3.org/1999/XSL/Format" eId="schedule-4-part-4"><num>PART 4</num><heading>Temporary rules: Scotland</heading><hcontainer name="crossheading" class="schGroup7"><heading>Introductory</heading><paragraph eId="schedule-4-paragraph-52" class="schProv1"><num>52</num><content><p>Paragraphs <ref href="#schedule-4-paragraph-53">53</ref> to <ref href="#schedule-4-paragraph-90">90</ref> cease to have effect at the end of the relevant period, subject to paragraph <ref href="#schedule-4-paragraph-3">3</ref>.</p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Definition of “the court”</heading><paragraph eId="schedule-4-paragraph-53" class="schProv1"><num>53</num><content><p><mod>Section <ref href="#d25e5168">A54</ref><ref href="#d25e5172">(1)</ref> of the Insolvency Act 1986 has effect as if for the definition of “the court” there were substituted—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="double"><hcontainer name="definition"><content><p>“the court”, in relation to a company, means a court having jurisdiction to wind up the company;</p></content></hcontainer></quotedStructure><inline name="appendText">.</inline></mod></p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Content of documents relating to the obtaining or extending of a moratorium: general</heading><paragraph eId="schedule-4-paragraph-54" class="schProv1"><num>54</num><intro><p>A notice or statement under section <ref href="#d25e433">A6</ref><ref href="#d25e437">(1)</ref>, <ref href="#d25e618">A8</ref><ref href="#d25e628">(2)</ref>, <ref href="#d25e841">A10</ref><ref href="#d25e845">(1)</ref>, <ref href="#d25e920">A11</ref><ref href="#d25e924">(1)</ref> or <ref href="#d25e1090">A13</ref><ref href="#d25e1100">(2)</ref> of the Insolvency Act 1986 must state—</p></intro><level class="para1" eId="schedule-4-paragraph-54-a"><num>(a)</num><content><p>the provision under which it is given or made,</p></content></level><level class="para1" eId="schedule-4-paragraph-54-b"><num>(b)</num><content><p>the nature of the notice or statement,</p></content></level><level class="para1" eId="schedule-4-paragraph-54-c"><num>(c)</num><content><p>the date of the notice or statement, and</p></content></level><level class="para1" eId="schedule-4-paragraph-54-d"><num>(d)</num><content><p>the identification details for the company to which it relates.</p></content></level></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Authentication of documents relating to obtaining or extending moratorium: general</heading><paragraph eId="schedule-4-paragraph-55" class="schProv1"><num>55</num><subparagraph eId="schedule-4-paragraph-55-1"><num>(1)</num><content><p>A notice or statement under section <ref href="#d25e433">A6</ref><ref href="#d25e437">(1)</ref>, <ref href="#d25e841">A10</ref><ref href="#d25e845">(1)</ref>, <ref href="#d25e920">A11</ref><ref href="#d25e924">(1)</ref> or <ref href="#d25e1090">A13</ref><ref href="#d25e1100">(2)</ref> of the Insolvency Act 1986 must be authenticated by or on behalf of the person giving the notice or making the statement.</p></content></subparagraph><subparagraph eId="schedule-4-paragraph-55-2"><num>(2)</num><content><p>A notice under section <ref href="#d25e618">A8</ref><ref href="#d25e637">(2)(a)</ref> of the Insolvency Act 1986 must be authenticated by the monitor.</p></content></subparagraph><subparagraph eId="schedule-4-paragraph-55-3"><num>(3)</num><content><p>Rule 1.6 of the Scottish Insolvency Rules applies for the purposes of authentication under this paragraph.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Notice that directors wish to obtain a moratorium</heading><paragraph eId="schedule-4-paragraph-56" class="schProv1"><num>56</num><intro><p>A notice under section <ref href="#d25e433">A6</ref><ref href="#d25e443">(1)(a)</ref> of the Insolvency Act 1986 must state—</p></intro><level class="para1" eId="schedule-4-paragraph-56-a"><num>(a)</num><content><p>the company’s address for service, and</p></content></level><level class="para1" eId="schedule-4-paragraph-56-b"><num>(b)</num><content><p>the court in which the documents are to be lodged under section <ref href="#d25e268">A3</ref> or the application under section <ref href="#d25e320">A4</ref> or <ref href="#d25e375">A5</ref> is to be made.</p></content></level></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Proposed monitor’s statement and consent to act</heading><paragraph eId="schedule-4-paragraph-57" class="schProv1"><num>57</num><subparagraph eId="schedule-4-paragraph-57-1"><num>(1)</num><intro><p>A statement under section <ref href="#d25e433">A6</ref><ref href="#d25e449">(1)(b)</ref> of the Insolvency Act 1986 must be headed “Proposed monitor’s statement and consent to act” and must contain the following—</p></intro><level class="para1" eId="schedule-4-paragraph-57-1-a"><num>(a)</num><content><p>a certificate that the proposed monitor is qualified to act as an insolvency practitioner in relation to the company,</p></content></level><level class="para1" eId="schedule-4-paragraph-57-1-b"><num>(b)</num><content><p>the proposed monitor’s IP number,</p></content></level><level class="para1" eId="schedule-4-paragraph-57-1-c"><num>(c)</num><content><p>the name of the relevant recognised professional body which is the source of the proposed monitor’s authorisation to act in relation to the company, and</p></content></level><level class="para1" eId="schedule-4-paragraph-57-1-d"><num>(d)</num><content><p>a statement that the proposed monitor consents to act as monitor in relation to the company.</p></content></level></subparagraph><subparagraph eId="schedule-4-paragraph-57-2"><num>(2)</num><content><p>In this paragraph “IP number” means the number assigned to an office-holder as an insolvency practitioner by the Secretary of State.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Timing of statements for obtaining moratorium</heading><paragraph eId="schedule-4-paragraph-58" class="schProv1"><num>58</num><content><p>Each statement under section <ref href="#d25e433">A6</ref><ref href="#d25e449">(1)(b)</ref> to <ref href="#d25e479">(e)</ref> of the Insolvency Act 1986 must be made within the period of 5 days ending with the day on which the documents under section <ref href="#d25e433">A6</ref><ref href="#d25e443">(1)(a)</ref> to <ref href="#d25e479">(e)</ref> are lodged in the court (or, if the documents are lodged on different days, the last of those days).</p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Notice by monitor where moratorium comes into force</heading><paragraph eId="schedule-4-paragraph-59" class="schProv1"><num>59</num><intro><p>A notice under section <ref href="#d25e618">A8</ref><ref href="#d25e628">(2)</ref> of the Insolvency Act 1986 must—</p></intro><level class="para1" eId="schedule-4-paragraph-59-a"><num>(a)</num><content><p>state that it is given by the monitor acting in that capacity, and</p></content></level><level class="para1" eId="schedule-4-paragraph-59-b"><num>(b)</num><content><p>state the name and contact details of the monitor.</p></content></level></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Notice that directors wish to extend a moratorium</heading><paragraph eId="schedule-4-paragraph-60" class="schProv1"><num>60</num><intro><p>A notice under section <ref href="#d25e841">A10</ref><ref href="#d25e851">(1)(a)</ref> or <ref href="#d25e920">A11</ref><ref href="#d25e930">(1)(a)</ref> of the Insolvency Act 1986 must state—</p></intro><level class="para1" eId="schedule-4-paragraph-60-a"><num>(a)</num><content><p>the company’s address for service,</p></content></level><level class="para1" eId="schedule-4-paragraph-60-b"><num>(b)</num><content><p>the court in which the notice is to be lodged.</p></content></level></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Extension under section <ref href="#d25e841">A10</ref> or <ref href="#d25e920">A11</ref> of the Insolvency Act 1986: notices and statements</heading><paragraph eId="schedule-4-paragraph-61" class="schProv1"><num>61</num><content><p>A statement by the monitor under section <ref href="#d25e841">A10</ref><ref href="#d25e963">(1)(d)</ref> or <ref href="#d25e920">A11</ref><ref href="#d25e963">(1)(d)</ref> of the Insolvency Act 1986 must contain contact details of the monitor.</p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Timing of statements for extension under section <ref href="#d25e841">A10</ref> or <ref href="#d25e920">A11</ref></heading><paragraph eId="schedule-4-paragraph-62" class="schProv1"><num>62</num><content><p>Each statement under section <ref href="#d25e841">A10</ref><ref href="#d25e857">(1)(b)</ref> to <ref href="#d25e884">(d)</ref> or <ref href="#d25e920">A11</ref><ref href="#d25e936">(1)(b)</ref> to <ref href="#d25e969">(e)</ref> of the Insolvency Act 1986 must be made within the period of 3 days ending with the day on which the documents under section <ref href="#d25e841">A10</ref><ref href="#d25e851">(1)(a)</ref> to <ref href="#d25e884">(d)</ref> or <ref href="#d25e920">A11</ref><ref href="#d25e930">(1)(a)</ref> to <ref href="#d25e969">(e)</ref> are lodged in the court (or, if the documents are lodged on different days, the last of those days).</p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Obtaining creditor consent: qualifying decision procedure</heading><paragraph eId="schedule-4-paragraph-63" class="schProv1"><num>63</num><subparagraph eId="schedule-4-paragraph-63-1"><num>(1)</num><intro><p>The following apply, so far as relevant, for the purposes of a decision to consent to a revised end date for a moratorium under section <ref href="#d25e1007">A12</ref> of the Insolvency Act 1986—</p></intro><level class="para1" eId="schedule-4-paragraph-63-1-a"><num>(a)</num><content><p>Part 5 of the Scottish Insolvency Rules (decision making), apart from rule 5.8(3)(f) and (g);</p></content></level><level class="para1" eId="schedule-4-paragraph-63-1-b"><num>(b)</num><content><p>Part 6 of the Scottish Insolvency Rules (proxies), apart from rule 6.7.</p></content></level></subparagraph><subparagraph eId="schedule-4-paragraph-63-2"><num>(2)</num><content><p>In its application by virtue of sub-paragraph (1), Part 5 has effect subject to the modifications set out in paragraphs <ref href="#schedule-4-paragraph-64">64</ref> to <ref href="#schedule-4-paragraph-68">68</ref>.</p></content></subparagraph></paragraph><paragraph eId="schedule-4-paragraph-64" class="schProv1"><num>64</num><content><p><mod>Rule 5.11 of the Scottish Insolvency Rules (notice of decision procedures etc) has effect as if, before the first entry in the table, there were inserted—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="rule" ukl:Context="main" ukl:Format="double"><tblock class="table" ukl:Orientation="portrait"><foreign><default:table xmlns="http://www.w3.org/1999/xhtml"><default:col span="1" style="width:25%"/><default:col span="1" style="width:25%"/><default:col span="1" style="width:25%"/><default:col span="1" style="width:25%"/><default:tbody><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">moratorium</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">decision of pre-moratorium creditors under section <ref href="#d25e1007">A12</ref> of the Act</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">the pre-moratorium creditors</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">5 days</p></default:td></default:tr></default:tbody></default:table></foreign></tblock></quotedStructure><inline name="appendText">.</inline></mod></p></content></paragraph><paragraph eId="schedule-4-paragraph-65" class="schProv1"><num>65</num><content><p><mod>Rule 5.26 of the Scottish Insolvency Rules (creditors’ voting rights) has effect as if, before paragraph (1), there were inserted—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="rule" ukl:Context="main" ukl:Format="double"><paragraph><num>A1</num><intro><p>A pre-moratorium creditor is entitled to vote in a decision procedure under section <ref href="#d25e1007">A12</ref> of the Act only if—</p></intro><level class="para1"><num>(a)</num><content><p>the creditor has delivered to the convener a statement of claim and documentary evidence of debt, including any calculation for the purposes of rule 5.28 or 5.29,</p></content></level><level class="para1"><num>(b)</num><content><p>the statement of claim and documentary evidence of debt were received by the convener not later than the decision date, or in the case of a meeting, at or before the meeting, and</p></content></level><level class="para1"><num>(c)</num><content><p>the statement of claim and documentary evidence of debt has been admitted for the purposes of entitlement to vote.</p></content></level></paragraph></quotedStructure></mod></p></content></paragraph><paragraph eId="schedule-4-paragraph-66" class="schProv1"><num>66</num><intro><p>Rule 5.28 of the Scottish Insolvency Rules (calculation of voting rights) has effect as if—</p></intro><level class="para1" eId="schedule-4-paragraph-66-a"><num>(a)</num><content><p><mod>before paragraph (1) there were inserted—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="rule" ukl:Context="main" ukl:Format="double"><paragraph><num>A1</num><content><p>In relation to a decision to consent to a revised end date for a moratorium under section <ref href="#d25e1007">A12</ref> of the Act votes are calculated according to the amount of each creditor’s claim at the decision date.</p></content></paragraph></quotedStructure><inline name="appendText">;</inline></mod></p></content></level><level class="para1" eId="schedule-4-paragraph-66-b"><num>(b)</num><content><p><mod>after paragraph (2) there were inserted—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="rule" ukl:Context="main" ukl:Format="double"><paragraph><num>(2A)</num><content><p>But in relation to a decision to consent to a revised end date for a moratorium under section <ref href="#d25e1007">A12</ref> of the Act, a debt of an unliquidated or unascertained amount is to be valued at £1 for the purposes of voting unless the convener or chair or an appointed person decides to put a higher value on it.</p></content></paragraph></quotedStructure><inline name="appendText">;</inline></mod></p></content></level><level class="para1" eId="schedule-4-paragraph-66-c"><num>(c)</num><content><p><mod>in paragraph (6), after sub-paragraph (b) there were inserted—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="rule" ukl:Context="main" ukl:Format="double"><level class="para1"><num>(c)</num><content><p>where the decision relates to whether to consent to a revised end date for a moratorium under section <ref href="#d25e1007">A12</ref> of the Act.</p></content></level></quotedStructure></mod></p></content></level></paragraph><paragraph eId="schedule-4-paragraph-67" class="schProv1"><num>67</num><content><p><mod>Rule 5.29 of the Scottish Insolvency Rules (calculation of voting rights: hire-purchase agreements) has effect as if, before paragraph (1), there were inserted—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="rule" ukl:Context="main" ukl:Format="double"><paragraph><num>A1</num><content><p>In relation to a decision to consent to a revised end date for a moratorium under section <ref href="#d25e1007">A12</ref> of the Act, a pre-moratorium creditor under a hire-purchase agreement is entitled to vote in respect of the amount of the debt due and payable by the company at the decision date.</p></content></paragraph><paragraph><num>B1</num><content><p>In calculating the amount of any debt for the purpose of paragraph (A1), no account is to be taken of any amount attributable to the exercise of any right under the relevant agreement so far as the right has become exercisable solely by virtue of a moratorium for the company coming into force.</p></content></paragraph></quotedStructure></mod></p></content></paragraph><paragraph eId="schedule-4-paragraph-68" class="schProv1"><num>68</num><content><p><mod>Rule 5.31 of the Scottish Insolvency Rules (requisite majorities) has effect as if, before paragraph (1), there were inserted—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="rule" ukl:Context="main" ukl:Format="double"><paragraph><num>A1</num><intro><p>Subject to paragraph (B1), a decision to consent to a revised end date for a moratorium under section <ref href="#d25e1007">A12</ref> of the Act is made if, of those voting—</p></intro><level class="para1"><num>(a)</num><content><p>a majority (in value) of the pre-moratorium creditors who are secured creditors vote in favour of the proposed decision, and</p></content></level><level class="para1"><num>(b)</num><content><p>a majority (in value) of the pre-moratorium creditors who are unsecured creditors vote in favour of the proposed decision.</p></content></level></paragraph><paragraph><num>B1</num><intro><p>But a decision to consent to a revised end date for a moratorium under section <ref href="#d25e1007">A12</ref> of the Act is not made if, of those voting either—</p></intro><level class="para1"><num>(a)</num><content><p>a majority of the pre-moratorium creditors who are unconnected secured creditors vote against the proposed end date, or</p></content></level><level class="para1"><num>(b)</num><content><p>a majority of the pre-moratorium creditors who are unconnected unsecured creditors vote against the proposed end date.</p></content></level></paragraph><paragraph><num>C1</num><intro><p>For the purposes of paragraph (B1)—</p></intro><level class="para1"><num>(a)</num><content><p>a creditor is unconnected unless the convener or chair decides that the creditor is connected, and</p></content></level><level class="para1"><num>(b)</num><content><p>the total value of the unconnected creditors is the total value of those unconnected creditors whose claims have been admitted for voting.</p></content></level></paragraph></quotedStructure></mod></p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Content of application to the court for extension of moratorium</heading><paragraph eId="schedule-4-paragraph-69" class="schProv1"><num>69</num><subparagraph eId="schedule-4-paragraph-69-1"><num>(1)</num><intro><p>An application by the directors of a company for the extension of a moratorium under section <ref href="#d25e1090">A13</ref> of the Insolvency Act 1986 must state—</p></intro><level class="para1" eId="schedule-4-paragraph-69-1-a"><num>(a)</num><content><p>that it is made under that section,</p></content></level><level class="para1" eId="schedule-4-paragraph-69-1-b"><num>(b)</num><content><p>the length of the extension sought,</p></content></level><level class="para1" eId="schedule-4-paragraph-69-1-c"><num>(c)</num><content><p>identification details for the company to which the application relates,</p></content></level><level class="para1" eId="schedule-4-paragraph-69-1-d"><num>(d)</num><content><p>the company’s address for service, and</p></content></level><level class="para1" eId="schedule-4-paragraph-69-1-e"><num>(e)</num><content><p>the court in which the application is made.</p></content></level></subparagraph><subparagraph eId="schedule-4-paragraph-69-2"><num>(2)</num><content><p>The application must be authenticated by or on behalf of the directors.</p></content></subparagraph><subparagraph eId="schedule-4-paragraph-69-3"><num>(3)</num><content><p>Rule 1.6 of the Scottish Insolvency Rules applies for the purposes of authentication under sub-paragraph <ref href="#schedule-4-paragraph-29-2">(2)</ref>.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Timing of statements accompanying application to court for extension of moratorium</heading><paragraph eId="schedule-4-paragraph-70" class="schProv1"><num>70</num><content><p>A statement under section <ref href="#d25e1090">A13</ref><ref href="#d25e1100">(2)</ref> must be made within the period of 3 days ending with the day on which the application under that section is made.</p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Notices about change in end of moratorium</heading><paragraph eId="schedule-4-paragraph-71" class="schProv1"><num>71</num><subparagraph eId="schedule-4-paragraph-71-1"><num>(1)</num><content><p>A notice under section <ref href="#d25e1464">A17</ref><ref href="#d25e1468">(1)</ref> of the Insolvency Act 1986 must be given within the period of 5 days beginning with the day on which the duty to give the notice arises.</p></content></subparagraph><subparagraph eId="schedule-4-paragraph-71-2"><num>(2)</num><intro><p>The notice must state—</p></intro><level class="para1" eId="schedule-4-paragraph-71-2-a"><num>(a)</num><content><p>the name of the company to which it relates, and</p></content></level><level class="para1" eId="schedule-4-paragraph-71-2-b"><num>(b)</num><content><p>the provision by virtue of which the moratorium was extended or came to an end.</p></content></level></subparagraph></paragraph><paragraph eId="schedule-4-paragraph-72" class="schProv1"><num>72</num><subparagraph eId="schedule-4-paragraph-72-1"><num>(1)</num><content><p>A notice under section <ref href="#d25e1464">A17</ref><ref href="#d25e1610">(2)</ref> or <ref href="#d25e1627">(3)</ref> of the Insolvency Act 1986 must be given within the period of 5 days beginning with the day on which the duty to give the notice arises.</p></content></subparagraph><subparagraph eId="schedule-4-paragraph-72-2"><num>(2)</num><intro><p>The notice must state—</p></intro><level class="para1" eId="schedule-4-paragraph-72-2-a"><num>(a)</num><content><p>the provision under which it is given,</p></content></level><level class="para1" eId="schedule-4-paragraph-72-2-b"><num>(b)</num><content><p>the nature of the notice,</p></content></level><level class="para1" eId="schedule-4-paragraph-72-2-c"><num>(c)</num><content><p>the date of the notice,</p></content></level><level class="para1" eId="schedule-4-paragraph-72-2-d"><num>(d)</num><content><p>that it is given by the monitor acting in that capacity,</p></content></level><level class="para1" eId="schedule-4-paragraph-72-2-e"><num>(e)</num><content><p>the name and contact details of the monitor, and</p></content></level><level class="para1" eId="schedule-4-paragraph-72-2-f"><num>(f)</num><content><p>the identification details for the company to which it relates.</p></content></level></subparagraph><subparagraph eId="schedule-4-paragraph-72-3"><num>(3)</num><content><p>A notice under section <ref href="#d25e1464">A17</ref><ref href="#d25e1610">(2)</ref> or <ref href="#d25e1627">(3)</ref> of the Insolvency Act 1986 that is given to the registrar of companies must be authenticated by or on behalf of the monitor.</p></content></subparagraph><subparagraph eId="schedule-4-paragraph-72-4"><num>(4)</num><content><p>Rule 1.6 of the Scottish Insolvency Rules applies for the purposes of authentication under sub-paragraph <ref href="#schedule-4-paragraph-32-3">(3)</ref>.</p></content></subparagraph></paragraph><paragraph eId="schedule-4-paragraph-73" class="schProv1"><num>73</num><intro><p>Where a moratorium comes to an end under section <ref href="#d25e1400">A16</ref> of the Insolvency Act 1986 because the company has entered into a relevant insolvency procedure within the meaning of that section, the notices under section <ref href="#d25e1464">A17</ref><ref href="#d25e1468">(1)</ref> and <ref href="#d25e1610">(2)</ref> must state—</p></intro><level class="para1" eId="schedule-4-paragraph-73-a"><num>(a)</num><content><p>the date on which the company entered into the relevant insolvency procedure, and</p></content></level><level class="para1" eId="schedule-4-paragraph-73-b"><num>(b)</num><content><p>the name and contact details of the supervisor of the voluntary arrangement, the administrator or the liquidator.</p></content></level></paragraph><paragraph eId="schedule-4-paragraph-74" class="schProv1"><num>74</num><subparagraph eId="schedule-4-paragraph-74-1"><num>(1)</num><content><p>A notice under section <ref href="#d25e1464">A17</ref><ref href="#d25e1633">(4)</ref> of the Insolvency Act 1986 must be given within the period of 3 business days beginning with the day on which the notice under section <ref href="#d25e3388">A38</ref>(1) is lodged in the court.</p></content></subparagraph><subparagraph eId="schedule-4-paragraph-74-2"><num>(2)</num><content><p>The notice under section <ref href="#d25e1464">A17</ref><ref href="#d25e1633">(4)</ref> of that Act must be accompanied by the notice that the monitor has lodged in the court under section <ref href="#d25e3388">A38</ref>(1) of that Act.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Notification by directors of insolvency proceedings etc</heading><paragraph eId="schedule-4-paragraph-75" class="schProv1"><num>75</num><subparagraph eId="schedule-4-paragraph-75-1"><num>(1)</num><content><p>A notice under section <ref href="#d25e2457">A24</ref><ref href="#d25e2525">(1)</ref> of the Insolvency Act 1986 must be given before the period of 3 days ending with the day on which the step mentioned there is taken.</p></content></subparagraph><subparagraph eId="schedule-4-paragraph-75-2"><num>(2)</num><content><p>A notice under section <ref href="#d25e2457">A24</ref><ref href="#d25e2485">(2)</ref> of the Insolvency Act 1986 must be given within the period of 3 days beginning with the day on which the duty to give the notice arises.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Notice of termination of moratorium</heading><paragraph eId="schedule-4-paragraph-76" class="schProv1"><num>76</num><subparagraph eId="schedule-4-paragraph-76-1"><num>(1)</num><content><p>A notice under section <ref href="#d25e3388">A38</ref>(1) of the Insolvency Act 1986 must be lodged in the court as soon as practicable after the duty in that subsection arises.</p></content></subparagraph><subparagraph eId="schedule-4-paragraph-76-2"><num>(2)</num><intro><p>The notice must state—</p></intro><level class="para1" eId="schedule-4-paragraph-76-2-a"><num>(a)</num><content><p>the provision under which it is given,</p></content></level><level class="para1" eId="schedule-4-paragraph-76-2-b"><num>(b)</num><content><p>the nature of the notice,</p></content></level><level class="para1" eId="schedule-4-paragraph-76-2-c"><num>(c)</num><content><p>the date of the notice,</p></content></level><level class="para1" eId="schedule-4-paragraph-76-2-d"><num>(d)</num><content><p>the name and contact details of the monitor,</p></content></level><level class="para1" eId="schedule-4-paragraph-76-2-e"><num>(e)</num><content><p>the identification details for the company to which it relates,</p></content></level><level class="para1" eId="schedule-4-paragraph-76-2-f"><num>(f)</num><content><p>the grounds on which the moratorium is being terminated,</p></content></level><level class="para1" eId="schedule-4-paragraph-76-2-g"><num>(g)</num><content><p>the monitor’s reasons for concluding that those grounds are made out,</p></content></level><level class="para1" eId="schedule-4-paragraph-76-2-h"><num>(h)</num><content><p>the date on which the monitor concluded that those grounds were made out, and</p></content></level><level class="para1" eId="schedule-4-paragraph-76-2-i"><num>(i)</num><content><p>the court in which the notice is to be lodged.</p></content></level></subparagraph><subparagraph eId="schedule-4-paragraph-76-3"><num>(3)</num><content><p>The notice must be authenticated by or on behalf of the monitor.</p></content></subparagraph><subparagraph eId="schedule-4-paragraph-76-4"><num>(4)</num><content><p>Rule 1.6 of the Scottish Insolvency Rules applies for the purposes of authentication under sub-paragraph <ref href="#schedule-4-paragraph-32-3">(3)</ref>.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Termination of moratorium under section <ref href="#d25e3388">A38</ref><ref href="#d25e3419">(1)(d)</ref> of the Insolvency Act 1986</heading><paragraph eId="schedule-4-paragraph-77" class="schProv1"><num>77</num><intro><p>For the purposes of deciding whether to bring a moratorium to an end under section <ref href="#d25e3388">A38</ref><ref href="#d25e3419">(1)(d)</ref> of the Insolvency Act 1986 the monitor must disregard—</p></intro><level class="para1" eId="schedule-4-paragraph-77-a"><num>(a)</num><content><p>any debts that the monitor has reasonable grounds for thinking are likely to be paid within 5 days of the decision, and</p></content></level><level class="para1" eId="schedule-4-paragraph-77-b"><num>(b)</num><content><p>any debts in respect of which the creditor has agreed to defer payment until a time that is later than the decision.</p></content></level></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Replacement of monitor or additional monitor: statement and consent to act</heading><paragraph eId="schedule-4-paragraph-78" class="schProv1"><num>78</num><subparagraph eId="schedule-4-paragraph-78-1"><num>(1)</num><intro><p>A statement under section <ref href="#d25e3488">A39</ref><ref href="#d25e3516">(4)</ref> of the Insolvency Act 1986 must be headed “Proposed monitor’s statement and consent to act” and must contain the following—</p></intro><level class="para1" eId="schedule-4-paragraph-78-1-a"><num>(a)</num><content><p>a certificate that the proposed monitor is qualified to act as an insolvency practitioner in relation to the company,</p></content></level><level class="para1" eId="schedule-4-paragraph-78-1-b"><num>(b)</num><content><p>the proposed monitor’s IP number,</p></content></level><level class="para1" eId="schedule-4-paragraph-78-1-c"><num>(c)</num><content><p>the name of the relevant recognised professional body which is the source of the proposed monitor’s authorisation to act in relation to the company, and</p></content></level><level class="para1" eId="schedule-4-paragraph-78-1-d"><num>(d)</num><content><p>a statement that the proposed monitor consents to act as monitor in relation to the company.</p></content></level></subparagraph><subparagraph eId="schedule-4-paragraph-78-2"><num>(2)</num><content><p>The statement must be made within the period of 5 days ending with the day on which it is lodged in the court.</p></content></subparagraph><subparagraph eId="schedule-4-paragraph-78-3"><num>(3)</num><content><p>In this paragraph “IP number” means the number assigned to an office-holder as an insolvency practitioner by the Secretary of State.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Replacement of monitor or additional monitor: notification</heading><paragraph eId="schedule-4-paragraph-79" class="schProv1"><num>79</num><subparagraph eId="schedule-4-paragraph-79-1"><num>(1)</num><intro><p>A notice under section <ref href="#d25e3488">A39</ref><ref href="#d25e3579">(8)</ref> of the Insolvency Act 1986 must state—</p></intro><level class="para1" eId="schedule-4-paragraph-79-1-a"><num>(a)</num><content><p>the provision under which it is given,</p></content></level><level class="para1" eId="schedule-4-paragraph-79-1-b"><num>(b)</num><content><p>the nature of the notice,</p></content></level><level class="para1" eId="schedule-4-paragraph-79-1-c"><num>(c)</num><content><p>the date of the notice,</p></content></level><level class="para1" eId="schedule-4-paragraph-79-1-d"><num>(d)</num><content><p>the identification details for the company to which it relates,</p></content></level><level class="para1" eId="schedule-4-paragraph-79-1-e"><num>(e)</num><content><p>that it is given by the monitor acting in that capacity, and</p></content></level><level class="para1" eId="schedule-4-paragraph-79-1-f"><num>(f)</num><content><p>the name and contact details of the monitor.</p></content></level></subparagraph><subparagraph eId="schedule-4-paragraph-79-2"><num>(2)</num><content><p>The notice must be authenticated by the monitor.</p></content></subparagraph><subparagraph eId="schedule-4-paragraph-79-3"><num>(3)</num><content><p>Rule 1.6 of the Scottish Insolvency Rules applies for the purposes of authentication under sub-paragraph <ref href="#schedule-4-paragraph-79-2">(2)</ref>.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Challenge to monitor’s remuneration</heading><paragraph eId="schedule-4-paragraph-80" class="schProv1"><num>80</num><subparagraph eId="schedule-4-paragraph-80-1"><num>(1)</num><content><p>An administrator or liquidator of a company may apply to the court on the ground that remuneration charged by the monitor in relation to a prior moratorium for the company under Part A1 of the Insolvency Act 1986 was excessive.</p></content></subparagraph><subparagraph eId="schedule-4-paragraph-80-2"><num>(2)</num><content><p>An application under this paragraph may not be made after the end of the period of 2 years beginning with the day after the moratorium ends.</p></content></subparagraph><subparagraph eId="schedule-4-paragraph-80-3"><num>(3)</num><intro><p>On an application under this paragraph the court may—</p></intro><level class="para1" eId="schedule-4-paragraph-80-3-a"><num>(a)</num><content><p>dismiss the application,</p></content></level><level class="para1" eId="schedule-4-paragraph-80-3-b"><num>(b)</num><content><p>order the monitor to repay some or all of the remuneration, or</p></content></level><level class="para1" eId="schedule-4-paragraph-80-3-c"><num>(c)</num><content><p>make such other order as it thinks fit.</p></content></level></subparagraph><subparagraph eId="schedule-4-paragraph-80-4"><num>(4)</num><content><p>The expenses of an application under this paragraph are, unless the court orders otherwise, to be paid as an expense of the administration or liquidation.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Challenge to directors’ actions: qualifying decision procedure</heading><paragraph eId="schedule-4-paragraph-81" class="schProv1"><num>81</num><intro><p>Where the court makes an order by virtue of section A44(4)(c) of the Insolvency Act 1986 requiring a decision of a company’s creditors, the following provisions of the Scottish Insolvency Rules apply for the purposes of that decision to the extent set out in the court’s order and subject to any modifications set out in the court’s order—</p></intro><level class="para1" eId="schedule-4-paragraph-81-a"><num>(a)</num><content><p>Part 5 (decision making);</p></content></level><level class="para1" eId="schedule-4-paragraph-81-b"><num>(b)</num><content><p>Part 6 (proxies).</p></content></level></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Priority of moratorium debts etc in subsequent winding up</heading><paragraph eId="schedule-4-paragraph-82" class="schProv1"><num>82</num><subparagraph eId="schedule-4-paragraph-82-1"><num>(1)</num><intro><p>Where section 174A of the Insolvency Act 1986 applies, the moratorium debts and pre-moratorium debts mentioned in subsection (2)(b) of that section are payable in the following order of priority—</p></intro><level class="para1" eId="schedule-4-paragraph-82-1-a"><num>(a)</num><content><p>amounts payable in respect of goods or services supplied during the moratorium under a contract where, but for section 233B(3) or (4) of that Act, the supplier would not have had to make that supply;</p></content></level><level class="para1" eId="schedule-4-paragraph-82-1-b"><num>(b)</num><content><p>wages or salary arising under a contract of employment;</p></content></level><level class="para1" eId="schedule-4-paragraph-82-1-c"><num>(c)</num><content><p>other debts or other liabilities apart from the monitor’s remuneration or expenses;</p></content></level><level class="para1" eId="schedule-4-paragraph-82-1-d"><num>(d)</num><content><p>the monitor’s remuneration or expenses.</p></content></level></subparagraph><subparagraph eId="schedule-4-paragraph-82-2"><num>(2)</num><content><p>In this paragraph “wages or salary” has the same meaning as in section <ref href="#d25e1722">A18</ref> of the Insolvency Act 1986.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Priority of moratorium debts etc in subsequent administration</heading><paragraph eId="schedule-4-paragraph-83" class="schProv1"><num>83</num><subparagraph eId="schedule-4-paragraph-83-1"><num>(1)</num><intro><p>Where paragraph 64A(1) of Schedule B1 to the Insolvency Act 1986 applies, the moratorium debts and pre-moratorium debts mentioned in paragraph 64A(2) of that Schedule are payable in the following order of priority—</p></intro><level class="para1" eId="schedule-4-paragraph-83-1-a"><num>(a)</num><content><p>amounts payable in respect of goods or services supplied during the moratorium under a contract where, but for section 233B(3) or (4) of that Act, the supplier would not have had to make that supply;</p></content></level><level class="para1" eId="schedule-4-paragraph-83-1-b"><num>(b)</num><content><p>wages or salary arising under a contract of employment;</p></content></level><level class="para1" eId="schedule-4-paragraph-83-1-c"><num>(c)</num><content><p>other debts or other liabilities apart from the monitor’s remuneration or expenses;</p></content></level><level class="para1" eId="schedule-4-paragraph-83-1-d"><num>(d)</num><content><p>the monitor’s remuneration or expenses.</p></content></level></subparagraph><subparagraph eId="schedule-4-paragraph-83-2"><num>(2)</num><content><p>In this paragraph “wages or salary” has the same meaning as in section <ref href="#d25e1722">A18</ref> of the Insolvency Act 1986.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Prescribed format of documents</heading><paragraph eId="schedule-4-paragraph-84" class="schProv1"><num>84</num><content><p>Rule 1.5 of the Scottish Insolvency Rules (requirement for writing and form of documents) applies for the purposes of Part A1 of the Insolvency Act 1986.</p></content></paragraph><paragraph eId="schedule-4-paragraph-85" class="schProv1"><num>85</num><subparagraph eId="schedule-4-paragraph-85-1"><num>(1)</num><content><p>The following provisions of the Scottish Insolvency Rules apply, so far as relevant, to any requirement imposed by a provision of this Part of this Schedule—</p><blockList class="unordered none" ukl:Name="UnorderedList" ukl:Decoration="none"><item><p>rule 1.9 (prescribed format of documents), and</p></item><item><p>rule 1.10 (variations from prescribed contents).</p></item></blockList></content></subparagraph><subparagraph eId="schedule-4-paragraph-85-2"><num>(2)</num><content><p>In their application by virtue of sub-paragraph (1), a reference in rule 1.9 or 1.10 to the requirements of a rule is to be read as a reference to the requirements of the provision of this Part of this Schedule.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Delivery of documents</heading><paragraph eId="schedule-4-paragraph-86" class="schProv1"><num>86</num><content><p>The following provisions of Chapter 9 of Part 1 of the Scottish Insolvency Rules apply for the purposes of proceedings under Part A1 of the Insolvency Act 1986 as if rule 1.32(1) included a reference to such proceedings—</p><blockList class="unordered none" ukl:Name="UnorderedList" ukl:Decoration="none"><item><p>rule 1.32(2) to (3) (delivery to registrar of companies);</p></item><item><p>rule 1.36 (delivery of documents to authorised recipients);</p></item><item><p>rule 1.37 (delivery of documents to joint office-holders);</p></item><item><p>rule 1.38 (postal delivery of documents);</p></item><item><p>rule 1.39 (delivery by document exchange);</p></item><item><p>rule 1.40 (personal delivery of documents);</p></item><item><p>rule 1.41 (electronic delivery of documents).</p></item></blockList></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Identification details for a company</heading><paragraph eId="schedule-4-paragraph-87" class="schProv1"><num>87</num><subparagraph eId="schedule-4-paragraph-87-1"><num>(1)</num><intro><p>Where a provision of this Part of this Schedule requires a document to contain identification details for a company that is registered under the Companies Act 2006 in Scotland, the following information must be given—</p></intro><level class="para1" eId="schedule-4-paragraph-87-1-a"><num>(a)</num><content><p>the company’s registered name;</p></content></level><level class="para1" eId="schedule-4-paragraph-87-1-b"><num>(b)</num><content><p>its registered number;</p></content></level></subparagraph><subparagraph eId="schedule-4-paragraph-87-2"><num>(2)</num><intro><p>Where a provision of this Part of this Schedule requires a document to contain identification details for a company that has registered particulars under section 1046(1) of the Companies Act 2006 (registered overseas companies), the following information must be given—</p></intro><level class="para1" eId="schedule-4-paragraph-87-2-a"><num>(a)</num><content><p>the name registered by the company under section 1047 of that Act,</p></content></level><level class="para1" eId="schedule-4-paragraph-87-2-b"><num>(b)</num><content><p>the number under which it is registered, and</p></content></level><level class="para1" eId="schedule-4-paragraph-87-2-c"><num>(c)</num><content><p>the country or territory in which it is incorporated.</p></content></level></subparagraph><subparagraph eId="schedule-4-paragraph-87-3"><num>(3)</num><intro><p>Where a provision of this Part of this Schedule requires a document to contain identification details for an unregistered company that does not come within sub-paragraph (2) the following information must be given—</p></intro><level class="para1" eId="schedule-4-paragraph-87-3-a"><num>(a)</num><content><p>the company’s name, and</p></content></level><level class="para1" eId="schedule-4-paragraph-87-3-b"><num>(b)</num><content><p>the postal address of any principal place of business.</p></content></level></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Contact details of a monitor or other office-holder</heading><paragraph eId="schedule-4-paragraph-88" class="schProv1"><num>88</num><intro><p>Where a provision of this Part of this Schedule requires a document to contain contact details of a monitor or other office-holder, the following information must be given—</p></intro><level class="para1" eId="schedule-4-paragraph-88-a"><num>(a)</num><content><p>a postal address for the monitor or office-holder, and</p></content></level><level class="para1" eId="schedule-4-paragraph-88-b"><num>(b)</num><content><p>either an email address, or a telephone number, through which the monitor may be contacted.</p></content></level></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>“The Scottish Insolvency Rules”</heading><paragraph eId="schedule-4-paragraph-89" class="schProv1"><num>89</num><content><p>In this Part of this Schedule “the Scottish Insolvency Rules” means the Insolvency (Scotland) (Company Voluntary Arrangements and Administration) Rules 2018 (<ref eId="c00074" href="http://www.legislation.gov.uk/id/uksi/2018/1082">S.I. 2018/1082</ref>).</p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Interpretation: general</heading><paragraph eId="schedule-4-paragraph-90" class="schProv1"><num>90</num><content><p>Expressions used in this Part of this Schedule are to be construed as if this Part of this Schedule were contained in Part A1 of the Insolvency Act 1986.</p></content></paragraph></hcontainer></part>
<part xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-4-part-5"><num>PART 5</num><heading>Entities other than companies</heading><paragraph eId="schedule-4-paragraph-91" class="schProv1"><num>91</num><content><p>Regulations under section 14(1) of the Limited Liability Partnership Act 2000 may make provision applying or incorporating provision made by or under this Schedule, with such modifications as appear appropriate, in relation to a limited liability partnership registered in Great Britain.</p></content></paragraph><paragraph eId="schedule-4-paragraph-92" class="schProv1"><num>92</num><content><p>An order or regulations under section 118(1)(a), (3B) or (3C) of the Co-operative and Community Benefit Societies Act 2014 may provide for provision made by or under this Schedule to apply (with or without modifications) in relation to registered societies (or to registered societies of the kind mentioned there).</p></content></paragraph></part>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-4-paragraph-91" class="schProv1"><num>91</num><content><p>Regulations under section 14(1) of the Limited Liability Partnership Act 2000 may make provision applying or incorporating provision made by or under this Schedule, with such modifications as appear appropriate, in relation to a limited liability partnership registered in Great Britain.</p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-4-paragraph-92" class="schProv1"><num>92</num><content><p>An order or regulations under section 118(1)(a), (3B) or (3C) of the Co-operative and Community Benefit Societies Act 2014 may provide for provision made by or under this Schedule to apply (with or without modifications) in relation to registered societies (or to registered societies of the kind mentioned there).</p></content></paragraph>
<hcontainer xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" name="schedule" eId="schedule-5"><num>SCHEDULE 5<authorialNote class="referenceNote"><p>Section 4(2)</p></authorialNote></num><heading>Moratoriums in Northern Ireland: eligible companies</heading><content><p>In the Insolvency (Northern Ireland) Order 1989, before Schedule A1 (which is repealed by Schedule 7 to this Act) insert—</p><p><mod><quotedStructure startQuote="“" endQuote="”" uk:context="schedule" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="order" ukl:Context="schedule" ukl:Format="double"><hcontainer name="schedule"><num>SCHEDULE ZA1<authorialNote class="referenceNote"><p>Article 13AA</p></authorialNote></num><heading>Moratorium: Eligible companies</heading><hcontainer name="crossheading" class="schGroup7"><heading>Eligible companies</heading><paragraph class="schProv1"><num>1</num><content><p>A company is “eligible” for the purposes of this Part unless it is excluded from being eligible by any of the following—</p><blockList class="unordered none" ukl:Name="UnorderedList" ukl:Decoration="none"><item><p>paragraph <ref href="#d25e22959">2</ref> (current or recent insolvency procedure);</p></item><item><p>paragraph <ref href="#d25e23091">3</ref> (insurance companies);</p></item><item><p>paragraph <ref href="#d25e23131">4</ref> (banks);</p></item><item><p>paragraph <ref href="#d25e23171">5</ref> (electronic money institutions);</p></item><item><p>paragraph <ref href="#d25e23183">6</ref> (investment banks and investment firms);</p></item><item><p>paragraph <ref href="#d25e23238">7</ref> (market contracts, market charges, etc);</p></item><item><p>paragraph <ref href="#d25e23266">8</ref> (participants in designated systems);</p></item><item><p>paragraph <ref href="#d25e23290">9</ref> (payment institutions);</p></item><item><p>paragraph <ref href="#d25e23302">10</ref> (operators of payment systems, infrastructure providers etc);</p></item><item><p>paragraph <ref href="#d25e23323">11</ref> (recognised investment exchanges, clearing houses and CSDs);</p></item><item><p>paragraph <ref href="#d25e23333">12</ref> (securitisation companies);</p></item><item><p>paragraph <ref href="#d25e23345">13</ref> (parties to capital market arrangements);</p></item><item><p>paragraph <ref href="#d25e23630">15</ref> (public-private partnership project companies);</p></item><item><p>paragraph <ref href="#d25e23909">18</ref> (certain overseas companies).</p></item></blockList></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Companies subject to, or recently subject to, moratorium or an insolvency procedure</heading><paragraph eId="d25e22959" class="schProv1"><num>2</num><subparagraph><num>(1)</num><intro><p>A company is excluded from being eligible if—</p></intro><level class="para1"><num>(a)</num><content><p>on the filing date, a moratorium for the company is in force, or</p></content></level><level class="para1" eId="d25e22975"><num>(b)</num><content><p>at any time during the period of 12 months ending with the filing date, a moratorium for the company was in force (but see Article <ref href="#d25e8928">13F</ref><ref href="#d25e9007">(6)</ref> for power of the High Court to modify the effect of this paragraph).</p></content></level></subparagraph><subparagraph eId="d25e22986"><num>(2)</num><intro><p>A company is excluded from being eligible if—</p></intro><level class="para1"><num>(a)</num><content><p>on the filing date, the company is subject to an insolvency procedure, or</p></content></level><level class="para1" eId="d25e22998"><num>(b)</num><content><p>at any time during the period of 12 months ending with the filing date, the company was subject to an insolvency procedure within sub-paragraph <ref href="#d25e23019">(3)(a)</ref> or <ref href="#d25e23025">(b)</ref>.</p></content></level></subparagraph><subparagraph><num>(3)</num><intro><p>For the purposes of sub-paragraph <ref href="#d25e22986">(2)</ref>, a company is subject to an insolvency procedure at any time if at that time—</p></intro><level class="para1" eId="d25e23019"><num>(a)</num><content><p>a voluntary arrangement has effect in relation to the company,</p></content></level><level class="para1" eId="d25e23025"><num>(b)</num><content><p>the company is in administration,</p></content></level><level class="para1"><num>(c)</num><content><p>paragraph 45 of Schedule B1 applies in relation to the company (administration: interim moratorium),</p></content></level><level class="para1"><num>(d)</num><content><p>there is an administrative receiver of the company,</p></content></level><level class="para1"><num>(e)</num><content><p>there is a provisional liquidator of the company,</p></content></level><level class="para1"><num>(f)</num><content><p>the company is being wound up, or</p></content></level><level class="para1" eId="d25e23055"><num>(g)</num><content><p>a relevant petition for the winding up of the company has been presented and has not been withdrawn or determined.</p></content></level></subparagraph><subparagraph><num>(4)</num><intro><p>In sub-paragraph <ref href="#d25e23055">(3)(g)</ref> “relevant petition” means a petition under—</p></intro><level class="para1"><num>(a)</num><content><p>Article 104A (winding up on grounds of public interest),</p></content></level><level class="para1"><num>(b)</num><content><p>Article 104B (winding up of SE), or</p></content></level><level class="para1"><num>(c)</num><content><p>Article 104C (winding up of SCE).</p></content></level></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Insurance companies</heading><paragraph eId="d25e23091" class="schProv1"><num>3</num><subparagraph><num>(1)</num><intro><p>A company is excluded from being eligible if—</p></intro><level class="para1"><num>(a)</num><content><p>it carries on the regulated activity of effecting or carrying out contracts of insurance, and</p></content></level><level class="para1"><num>(b)</num><content><p>it is not an exempt person in relation to that activity.</p></content></level></subparagraph><subparagraph><num>(2)</num><intro><p>In this paragraph—</p></intro><hcontainer name="definition"><content><p>“exempt person”, in relation to a regulated activity, has the meaning given by section 417 of the Financial Services and Markets Act 2000;</p></content></hcontainer><hcontainer name="definition"><content><p>“regulated activity” has the meaning given by section 22 of that Act, taken with Schedule 2 to that Act and any order under that section.</p></content></hcontainer></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Banks</heading><paragraph eId="d25e23131" class="schProv1"><num>4</num><subparagraph><num>(1)</num><intro><p>A company is excluded from being eligible if—</p></intro><level class="para1" eId="d25e23141"><num>(a)</num><content><p>it has permission under Part 4A of the Financial Services and Markets Act 2000 to carry on the regulated activity of accepting deposits,</p></content></level><level class="para1"><num>(b)</num><content><p>it is a banking group company within the meaning of Part 1 of the Banking Act 2009 (see section 81D of that Act), or</p></content></level><level class="para1"><num>(c)</num><content><p>it has a liability in respect of a deposit which it accepted in accordance with the Banking Act 1979 or the Banking Act 1987.</p></content></level></subparagraph><subparagraph><num>(2)</num><content><p>In sub-paragraph <ref href="#d25e23141">(1)(a)</ref> “regulated activity” has the meaning given by section 22 of the Financial Services and Markets Act 2000, taken with Schedule 2 to that Act and any order under that section.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Electronic money institutions</heading><paragraph eId="d25e23171" class="schProv1"><num>5</num><content><p>A company is excluded from being eligible if it is an electronic money institution within the meaning of the Electronic Money Regulations 2011 (<ref eId="c00075" href="http://www.legislation.gov.uk/id/uksi/2011/99">S.I. 2011/99</ref>) (see regulation 2 of those Regulations).</p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Investment banks and investment firms</heading><paragraph eId="d25e23183" class="schProv1"><num>6</num><subparagraph><num>(1)</num><content><p>A company is excluded from being eligible if it is an investment bank or an investment firm.</p></content></subparagraph><subparagraph><num>(2)</num><intro><p>In this paragraph—</p></intro><hcontainer name="definition"><intro><p>“investment bank” means a company that has permission under Part 4A of the Financial Services and Markets Act 2000 to carry on the regulated activity of—</p></intro><level class="para1"><num>(a)</num><content><p>safeguarding and administering investments,</p></content></level><level class="para1"><num>(b)</num><content><p>managing an AIF or a UCITS,</p></content></level><level class="para1"><num>(c)</num><content><p>acting as trustee or depositary of an AIF or a UCITS,</p></content></level><level class="para1"><num>(d)</num><content><p>dealing in investments as principal, or</p></content></level><level class="para1"><num>(e)</num><content><p>dealing in investments as agent,</p></content></level><wrapUp><p>but does not include a company that has permission to arrange for one or more others to carry on the activity mentioned in paragraph (a) if it does not otherwise have permission to carry on any of the activities mentioned in paragraphs (a) to (e);</p></wrapUp></hcontainer><hcontainer name="definition"><content><p>“investment firm” has the same meaning as in the Banking Act 2009 (see section 258A of that Act), disregarding any order made under section 258A(2)(b) of that Act;</p></content></hcontainer><hcontainer name="definition"><content><p>“regulated activity” has the meaning given by section 22 of the Financial Services and Markets Act 2000, taken with Schedule 2 to that Act and any order under that section.</p></content></hcontainer></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Companies that are party to market contracts or subject to market charges, etc</heading><paragraph eId="d25e23238" class="schProv1"><num>7</num><subparagraph><num>(1)</num><content><p>A company is excluded from being eligible if it is a party to a market contract for the purposes of Part 5 of the Companies (No. 2) (Northern Ireland) Order 1990 (see Article 80 of that Order).</p></content></subparagraph><subparagraph><num>(2)</num><content><p>A company is excluded from being eligible if any of its property is subject to a market charge for the purposes of Part 5 of the Companies (No. 2) (Northern Ireland) Order 1990 (see Article 95 of that Order).</p></content></subparagraph><subparagraph><num>(3)</num><content><p>A company is excluded from being eligible if any of its property is subject to a charge that is a system-charge, within the meaning of the <ref eId="c00076" href="http://www.legislation.gov.uk/id/nisr/1996/252">Financial Markets and Insolvency Regulations (Northern Ireland) 1996 (S.R. (N.I.) 1996/252)</ref> (see regulation 2 of those Regulations).</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Participants in designated systems</heading><paragraph eId="d25e23266" class="schProv1"><num>8</num><intro><p>A company is excluded from being eligible if—</p></intro><level class="para1"><num>(a)</num><content><p>it is a participant in a designated system, within the meaning of the Financial Markets and Insolvency (Settlement Finality) Regulations 1999 (<ref eId="c00077" href="http://www.legislation.gov.uk/id/uksi/1999/2979">S.I. 1999/2979</ref>) (see regulation 2 of those Regulations), or</p></content></level><level class="para1"><num>(b)</num><content><p>any of its property is subject to a collateral security charge within the meaning of those Regulations (see regulation 2 of those Regulations).</p></content></level></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Payment institutions</heading><paragraph eId="d25e23290" class="schProv1"><num>9</num><content><p>A company is excluded from being eligible if it is an authorised payment institution, a small payment institution or a registered account information service provider within the meaning of the Payment Services Regulations 2017 (<ref eId="c00078" href="http://www.legislation.gov.uk/id/uksi/2017/752">S.I. 2017/752</ref>) (see regulation 2 of those Regulations).</p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Operators of payment systems, infrastructure providers etc</heading><paragraph eId="d25e23302" class="schProv1"><num>10</num><intro><p>A company is excluded from being eligible if—</p></intro><level class="para1"><num>(a)</num><content><p>it is the operator of a payment system or an infrastructure provider within the meaning of Part 5 of the Financial Services (Banking Reform) Act 2013 (see section 42 of that Act), or</p></content></level><level class="para1"><num>(b)</num><content><p>it is an infrastructure company, within the meaning of Part 6 of that Act (see section 112 of that Act).</p></content></level></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Recognised investment exchanges, clearing houses and CSDs</heading><paragraph eId="d25e23323" class="schProv1"><num>11</num><content><p>A company is excluded from being eligible if it is a recognised investment exchange, a recognised clearing house or a recognised CSD within the meaning of the Financial Services and Markets Act 2000 (see section 285 of that Act).</p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Securitisation companies</heading><paragraph eId="d25e23333" class="schProv1"><num>12</num><content><p>A company is excluded from being eligible if it is a securitisation company within the meaning of the Taxation of Securitisation Companies Regulations 2006 (<ref eId="c00079" href="http://www.legislation.gov.uk/id/uksi/2006/3296">S.I. 2006/3296</ref>) (see regulation 4 of those Regulations).</p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Parties to capital market arrangement</heading><paragraph eId="d25e23345" class="schProv1"><num>13</num><subparagraph eId="d25e23349"><num>(1)</num><intro><p>A company is excluded from being eligible if, on the filing date—</p></intro><level class="para1"><num>(a)</num><content><p>it is a party to an agreement which is or forms part of a capital market arrangement (see sub-paragraph <ref href="#d25e23379">(2)</ref>),</p></content></level><level class="para1" eId="d25e23364"><num>(b)</num><content><p>a party has incurred, or when the agreement was entered into was expected to incur, a debt of at least £10 million under the arrangement (at any time during the life of the capital market arrangement), and</p></content></level><level class="para1"><num>(c)</num><content><p>the arrangement involves the issue of a capital market investment (see paragraph <ref href="#d25e23448">14</ref>).</p></content></level></subparagraph><subparagraph eId="d25e23379"><num>(2)</num><intro><p>For the purposes of this paragraph, an arrangement is a “capital market arrangement” if any of the following applies—</p></intro><level class="para1"><num>(a)</num><content><p>it involves a grant of security to a person holding it as trustee for a person who holds a capital market investment issued by a party to the arrangement;</p></content></level><level class="para1"><num>(b)</num><content><p>at least one party guarantees the performance of obligations of another party;</p></content></level><level class="para1"><num>(c)</num><content><p>at least one party provides security in respect of the performance of obligations of another party;</p></content></level><level class="para1"><num>(d)</num><content><p>the arrangement involves an investment of a kind described in articles 83 to 85 of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 (<ref eId="c00080" href="http://www.legislation.gov.uk/id/uksi/2001/544">S.I. 2001/544</ref>) (options, futures and contracts for differences).</p></content></level></subparagraph><subparagraph><num>(3)</num><intro><p>For the purposes of sub-paragraph <ref href="#d25e23379">(2)</ref>—</p></intro><level class="para1"><num>(a)</num><content><p>a reference to holding a security as trustee includes a reference to holding it as nominee or agent,</p></content></level><level class="para1"><num>(b)</num><content><p>a reference to holding for a person who holds a capital market investment includes a reference to holding for a number of persons at least one of whom holds a capital market investment, and</p></content></level><level class="para1"><num>(c)</num><content><p>a reference to holding a capital market investment is to holding a legal or beneficial interest in it.</p></content></level></subparagraph><subparagraph><num>(4)</num><content><p>For the purposes of sub-paragraph <ref href="#d25e23364">(1)(b)</ref>, where a debt is denominated wholly or partly in a foreign currency, the sterling equivalent is to be calculated as at the time when the arrangement is entered into.</p></content></subparagraph></paragraph><paragraph eId="d25e23448" class="schProv1"><num>14</num><subparagraph><num>(1)</num><content><p>For the purposes of paragraph <ref href="#d25e23345">13</ref> an investment is a “capital market investment” if condition A or B is met.</p></content></subparagraph><subparagraph><num>(2)</num><intro><p>Condition A is that the investment—</p></intro><level class="para1"><num>(a)</num><content><p>is within article 77 or 77A of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 (<ref eId="c00081" href="http://www.legislation.gov.uk/id/uksi/2001/544">S.I. 2001/544</ref>) (debt instruments), and</p></content></level><level class="para1"><num>(b)</num><content><p>is rated, listed or traded or designed to be rated, listed or traded.</p></content></level></subparagraph><subparagraph eId="d25e23482"><num>(3)</num><intro><p>In sub-paragraph (2)—</p></intro><hcontainer name="definition"><content><p>“listed” means admitted to the official list within the meaning given by section 103(1) of the Financial Services and Markets Act 2000 (interpretation);</p></content></hcontainer><hcontainer name="definition"><content><p>“rated” means rated for the purposes of investment by an internationally recognised rating agency;</p></content></hcontainer><hcontainer name="definition"><content><p>“traded” means admitted to trading on a market established under the rules of a recognised investment exchange or on a foreign market.</p></content></hcontainer></subparagraph><subparagraph><num>(4)</num><intro><p>In sub-paragraph (3)—</p></intro><hcontainer name="definition"><content><p>“foreign market” has the same meaning as “relevant market” in article 67(2) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (<ref eId="c00082" href="http://www.legislation.gov.uk/id/uksi/2005/1529">S.I. 2005/1529</ref>) (foreign markets);</p></content></hcontainer><hcontainer name="definition"><content><p>“recognised investment exchange” has the meaning given by section 285 of the Financial Services and Markets Act 2000 (recognised investment exchange).</p></content></hcontainer></subparagraph><subparagraph eId="d25e23519"><num>(5)</num><intro><p>Condition B is that the investment consists of a bond or commercial paper issued to one or more of the following—</p></intro><level class="para1" eId="d25e23525"><num>(a)</num><content><p>an investment professional within the meaning of article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (<ref eId="c00083" href="http://www.legislation.gov.uk/id/uksi/2005/1529">S.I. 2005/1529</ref>);</p></content></level><level class="para1"><num>(b)</num><content><p>a person who, when the agreement mentioned in paragraph <ref href="#d25e23349">13(1)</ref> is entered into, is a certified high net worth individual in relation to a communication within the meaning of article 48(2) of that Order;</p></content></level><level class="para1" eId="d25e23543"><num>(c)</num><content><p>a person to whom article 49(2) of that Order applies (high net worth company, etc);</p></content></level><level class="para1"><num>(d)</num><content><p>a person who, when the agreement mentioned in paragraph <ref href="#d25e23349">13(1)</ref> is entered into, is a certified sophisticated investor in relation to a communication within the meaning of article 50(1) of that Order;</p></content></level><level class="para1"><num>(e)</num><content><p>a person in a State other than the United Kingdom who under the law of that State is not prohibited from investing in bonds or commercial paper.</p></content></level></subparagraph><subparagraph><num>(6)</num><intro><p>For the purposes of sub-paragraph <ref href="#d25e23519">(5)</ref>—</p></intro><level class="para1"><num>(a)</num><intro><p>in applying article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005—</p></intro><level class="para2"><num>(i)</num><content><p>in article 19(5)(b), ignore the words after “exempt person”,</p></content></level><level class="para2"><num>(ii)</num><content><p>in article 19(5)(c)(i), for the words from “the controlled activity” to the end substitute “a controlled activity”, and</p></content></level><level class="para2"><num>(iii)</num><content><p>in article 19(5)(e), ignore the words from “where the communication” to the end;</p></content></level></level><level class="para1"><num>(b)</num><content><p>in applying article 49(2) of that Order, ignore article 49(2)(e);</p></content></level><level class="para1"><num>(c)</num><intro><p>“bond” means—</p></intro><level class="para2"><num>(i)</num><content><p>a bond that is within article 77(1) of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001, or</p></content></level><level class="para2"><num>(ii)</num><content><p>an alternative finance investment bond within the meaning of article 77A of that Order;</p></content></level></level><level class="para1"><num>(d)</num><content><p>“commercial paper” has the meaning given by article 9(3) of that Order.</p></content></level></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Public-private partnership project companies</heading><paragraph eId="d25e23630" class="schProv1"><num>15</num><subparagraph><num>(1)</num><intro><p>A company is excluded from being eligible if, on the filing date, it is a project company of a project which—</p></intro><level class="para1"><num>(a)</num><content><p>is a public-private partnership project (see paragraph <ref href="#d25e23757">16</ref>), and</p></content></level><level class="para1"><num>(b)</num><content><p>includes step-in rights (see paragraph <ref href="#d25e23872">17</ref>).</p></content></level></subparagraph><subparagraph eId="d25e23658"><num>(2)</num><intro><p>For the purposes of this paragraph a company is a “project company” of a project if any of the following applies—</p></intro><level class="para1" eId="d25e23664"><num>(a)</num><content><p>it holds property for the purpose of the project;</p></content></level><level class="para1"><num>(b)</num><content><p>it has sole or principal responsibility under an agreement for carrying out all or part of the project;</p></content></level><level class="para1"><num>(c)</num><content><p>it is one of a number of companies which together carry out the project;</p></content></level><level class="para1" eId="d25e23682"><num>(d)</num><content><p>it has the purpose of supplying finance to enable the project to be carried out;</p></content></level><level class="para1" eId="d25e23688"><num>(e)</num><content><p>it is the holding company of a company within any of paragraphs (a) to (d).</p></content></level></subparagraph><subparagraph><num>(3)</num><intro><p>But a company is not a “project company” of a project if—</p></intro><level class="para1"><num>(a)</num><content><p>it performs a function within sub-paragraph <ref href="#d25e23664">(2)(a)</ref> to <ref href="#d25e23682">(d)</ref> or is within sub-paragraph <ref href="#d25e23688">(2)(e)</ref>, but</p></content></level><level class="para1"><num>(b)</num><intro><p>it also performs a function which is not—</p></intro><level class="para2"><num>(i)</num><content><p>within sub-paragraph <ref href="#d25e23664">(2)(a)</ref> to <ref href="#d25e23682">(d)</ref>,</p></content></level><level class="para2"><num>(ii)</num><content><p>related to a function within sub-paragraph <ref href="#d25e23664">(2)(a)</ref> to <ref href="#d25e23682">(d)</ref>, or</p></content></level><level class="para2"><num>(iii)</num><content><p>related to the project.</p></content></level></level></subparagraph><subparagraph><num>(4)</num><content><p>For the purposes of this paragraph a company carries out all or part of a project whether or not it acts wholly or partly through agents.</p></content></subparagraph></paragraph><paragraph eId="d25e23757" class="schProv1"><num>16</num><subparagraph eId="d25e23761"><num>(1)</num><intro><p>For the purposes of paragraph <ref href="#d25e23630">15</ref> “public-private partnership project” means a project—</p></intro><level class="para1" eId="d25e23770"><num>(a)</num><content><p>the resources for which are provided partly by one or more public bodies and partly by one or more private persons, or</p></content></level><level class="para1" eId="d25e23776"><num>(b)</num><content><p>which is designed wholly or mainly for the purpose of assisting a public body to discharge a function.</p></content></level></subparagraph><subparagraph eId="d25e23782"><num>(2)</num><intro><p>In sub-paragraph <ref href="#d25e23761">(1)</ref> “public body” means—</p></intro><level class="para1"><num>(a)</num><content><p>a body which exercises public functions,</p></content></level><level class="para1"><num>(b)</num><content><p>a body specified for the purposes of this paragraph by the Department, or</p></content></level><level class="para1"><num>(c)</num><content><p>a body within a class specified for the purposes of this paragraph by the Department.</p></content></level></subparagraph><subparagraph><num>(3)</num><intro><p>In sub-paragraph <ref href="#d25e23770">(1)(a)</ref> “resources” includes—</p></intro><level class="para1"><num>(a)</num><content><p>funds (including payment for the provision of services or facilities);</p></content></level><level class="para1"><num>(b)</num><content><p>assets;</p></content></level><level class="para1"><num>(c)</num><content><p>professional skill;</p></content></level><level class="para1"><num>(d)</num><content><p>the grant of a concession or franchise;</p></content></level><level class="para1"><num>(e)</num><content><p>any other commercial resource.</p></content></level></subparagraph><subparagraph><num>(4)</num><intro><p>A specification under sub-paragraph <ref href="#d25e23782">(2)</ref> may be—</p></intro><level class="para1"><num>(a)</num><content><p>general, or</p></content></level><level class="para1"><num>(b)</num><content><p>for the purpose of the application of paragraph <ref href="#d25e23630">15</ref> to a specified case.</p></content></level></subparagraph></paragraph><paragraph eId="d25e23872" class="schProv1"><num>17</num><subparagraph eId="d25e23876"><num>(1)</num><intro><p>For the purposes of paragraph <ref href="#d25e23630">15</ref> a project has “step-in rights” if a person who provides finance in connection with the project has a conditional entitlement under an agreement to—</p></intro><level class="para1"><num>(a)</num><content><p>assume sole or principal responsibility under an agreement for carrying out all or part of the project, or</p></content></level><level class="para1"><num>(b)</num><content><p>make arrangements for carrying out all or part of the project.</p></content></level></subparagraph><subparagraph><num>(2)</num><content><p>In sub-paragraph <ref href="#d25e23876">(1)</ref> a reference to the provision of finance includes a reference to the provision of an indemnity.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Overseas companies with corresponding functions</heading><paragraph eId="d25e23909" class="schProv1"><num>18</num><intro><p>A company is excluded from being eligible if its registered office or head office is outside the United Kingdom and—</p></intro><level class="para1"><num>(a)</num><content><p>its functions correspond to those of a company mentioned in any of the previous paragraphs of this Schedule apart from paragraph <ref href="#d25e22959">2</ref> and, if it were a company registered under the Companies Act 2006 in Northern Ireland, it would be excluded from being eligible by that paragraph, or</p></content></level><level class="para1"><num>(b)</num><content><p>it has entered into a transaction or done anything else that, if done in Northern Ireland by a company registered under the Companies Act 2006 in Northern Ireland, would result in the company being excluded by any of the previous paragraphs of this Schedule apart from paragraph <ref href="#d25e22959">2</ref>.</p></content></level></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Interpretation of Schedule</heading><paragraph eId="d25e23936" class="schProv1"><num>19</num><subparagraph><num>(1)</num><content><p>This paragraph applies for the purposes of this Schedule.</p></content></subparagraph><subparagraph><num>(2)</num><intro><p>“Agreement” includes any agreement or undertaking effected by—</p></intro><level class="para1"><num>(a)</num><content><p>contract,</p></content></level><level class="para1"><num>(b)</num><content><p>deed, or</p></content></level><level class="para1"><num>(c)</num><content><p>any other instrument intended to have effect in accordance with the law of Northern Ireland or another jurisdiction.</p></content></level></subparagraph><subparagraph><num>(3)</num><content><p>“The filing date” means the date on which documents are filed with the High Court under Article <ref href="#d25e5540">13B</ref>, <ref href="#d25e5592">13BA</ref> or <ref href="#d25e5647">13BB</ref>.</p></content></subparagraph><subparagraph><num>(4)</num><intro><p>“Party” to an arrangement includes a party to an agreement which—</p></intro><level class="para1"><num>(a)</num><content><p>forms part of the arrangement,</p></content></level><level class="para1"><num>(b)</num><content><p>provides for the raising of finance as part of the arrangement, or</p></content></level><level class="para1"><num>(c)</num><content><p>is necessary for the purposes of implementing the arrangement.</p></content></level></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Power to amend Schedule</heading><paragraph class="schProv1"><num>20</num><subparagraph><num>(1)</num><content><p>Regulations may amend this Schedule, apart from paragraph <ref href="#d25e22959">2</ref>, so as to alter the circumstances in which a company is “eligible” for the purposes of this Part.</p></content></subparagraph><subparagraph><num>(2)</num><content><p>Regulations may not be made under this paragraph unless a draft of the regulations has been laid before, and approved by a resolution of, the Assembly.</p></content></subparagraph></paragraph></hcontainer></hcontainer></quotedStructure></mod></p></content></hcontainer>
<hcontainer xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" name="schedule" eId="schedule-6"><num>SCHEDULE 6<authorialNote class="referenceNote"><p>Section 4(3)</p></authorialNote></num><heading>Moratoriums in Northern Ireland: contracts involving financial services</heading><content><p>In the Insolvency (Northern Ireland) Order 1989, after Schedule ZA1 (inserted by Schedule 5 to this Act) insert—</p><p><mod><quotedStructure startQuote="“" endQuote="”" uk:context="schedule" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="order" ukl:Context="schedule" ukl:Format="double"><hcontainer name="schedule"><num>SCHEDULE ZA2<authorialNote class="referenceNote"><p>Article 13D</p></authorialNote></num><heading>Moratorium: contract or other instrument involving financial services</heading><hcontainer name="crossheading" class="schGroup7"><heading>Introductory</heading><paragraph class="schProv1"><num>1</num><content><p>For the purposes of Article <ref href="#d25e7009">13D</ref> “contract or other instrument involving financial services” means a contract or other instrument to which any of the following paragraphs applies.</p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Financial contracts</heading><paragraph class="schProv1"><num>2</num><subparagraph><num>(1)</num><content><p>This paragraph applies to a financial contract.</p></content></subparagraph><subparagraph><num>(2)</num><intro><p>“Financial contract” means—</p></intro><level class="para1" eId="d25e24084"><num>(a)</num><intro><p>a contract for the provision of financial services consisting of—</p></intro><level class="para2"><num>(i)</num><content><p>lending (including the factoring and financing of commercial transactions),</p></content></level><level class="para2"><num>(ii)</num><content><p>financial leasing, or</p></content></level><level class="para2"><num>(iii)</num><content><p>providing guarantees or commitments;</p></content></level></level><level class="para1"><num>(b)</num><intro><p>a securities contract, including—</p></intro><level class="para2"><num>(i)</num><content><p>a contract for the purchase, sale or loan of a security, group or index of securities;</p></content></level><level class="para2"><num>(ii)</num><content><p>an option on a security or group or index of securities;</p></content></level><level class="para2"><num>(iii)</num><content><p>a repurchase or reverse repurchase transaction on any such security, group or index;</p></content></level></level><level class="para1"><num>(c)</num><intro><p>a commodities contract, including—</p></intro><level class="para2"><num>(i)</num><content><p>a contract for the purchase, sale or loan of a commodity or group or index of commodities for future delivery;</p></content></level><level class="para2"><num>(ii)</num><content><p>an option on a commodity or group or index of commodities;</p></content></level><level class="para2"><num>(iii)</num><content><p>a repurchase or reverse repurchase transaction on any such commodity, group or index;</p></content></level></level><level class="para1"><num>(d)</num><content><p>a futures or forwards contract, including a contract (other than a commodities contract) for the purchase, sale or transfer of a commodity or property of any other description, service, right or interest for a specified price at a future date;</p></content></level><level class="para1"><num>(e)</num><intro><p>a swap agreement, including—</p></intro><level class="para2"><num>(i)</num><content><p>a swap or option relating to interest rates, spot or other foreign exchange agreements, currency, an equity index or equity, a debt index or debt, commodity indexes or commodities, weather, emissions or inflation;</p></content></level><level class="para2"><num>(ii)</num><content><p>a total return, credit spread or credit swap;</p></content></level><level class="para2"><num>(iii)</num><content><p>any agreement or transaction that is similar to an agreement that is referred to in sub-paragraph (i) or (ii) and is the subject of recurrent dealing in the swaps or derivatives markets;</p></content></level></level><level class="para1"><num>(f)</num><content><p>an inter-bank borrowing agreement where the term of the borrowing is three months or less;</p></content></level><level class="para1"><num>(g)</num><content><p>a master agreement for any of the contracts or agreements referred to in paragraphs (a) to (f).</p></content></level></subparagraph><subparagraph><num>(3)</num><intro><p>For the purposes of this paragraph “commodities” includes—</p></intro><level class="para1" eId="d25e24204"><num>(a)</num><content><p>units recognised for compliance with the requirements of <ref eId="c00084" href="http://www.legislation.gov.uk/european/directive/2003/0087">EU Directive 2003/87/EC</ref> establishing a scheme for greenhouse gas emission allowance trading,</p></content></level><level class="para1" eId="d25e24213"><num>(b)</num><content><p>allowances under paragraph 5 of Schedule 2 to the Climate Change Act 2008 relating to a trading scheme dealt with under Part 1 of that Schedule (schemes limiting activities relating to emissions of greenhouse gas), and</p></content></level><level class="para1" eId="d25e24219"><num>(c)</num><intro><p>renewables obligation certificates issued—</p></intro><level class="para2"><num>(i)</num><content><p>by the Gas and Electricity Markets Authority under an order made under section 32B of the Electricity Act 1989, or</p></content></level><level class="para2"><num>(ii)</num><content><p>by the Northern Ireland Authority for Utility Regulation under the Energy (Northern Ireland) Order 2003 (<ref eId="c00085" href="http://www.legislation.gov.uk/id/nisi/2003/419">S.I. 2003/419 (N.I. 6)</ref>) and pursuant to an order made under Articles 52 to 55F of that Order.</p></content></level></level></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Securities financing transactions</heading><paragraph class="schProv1"><num>3</num><subparagraph><num>(1)</num><intro><p>This paragraph applies to—</p></intro><level class="para1"><num>(a)</num><content><p>a securities financing transaction, and</p></content></level><level class="para1"><num>(b)</num><content><p>a master agreement for securities financing transactions.</p></content></level></subparagraph><subparagraph><num>(2)</num><content><p>“Securities financing transaction” has the meaning given by Article 3(11) of <ref eId="c00086" href="http://www.legislation.gov.uk/european/regulation/2015/2365">Regulation (EU) 2015/2365</ref> on the transparency of securities financing transactions.</p></content></subparagraph><subparagraph><num>(3)</num><content><p>But for the purposes of that Article as it applies for the purposes of this paragraph, references to “commodities” in that Regulation are to be taken as including the units, allowances and certificates referred to in paragraph <ref href="#d25e24204">2(3)(a)</ref>, <ref href="#d25e24213">(b)</ref> and <ref href="#d25e24219">(c)</ref>.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Derivatives</heading><paragraph class="schProv1"><num>4</num><subparagraph><num>(1)</num><intro><p>This paragraph applies to—</p></intro><level class="para1"><num>(a)</num><content><p>a derivative, and</p></content></level><level class="para1"><num>(b)</num><content><p>a master agreement for derivatives.</p></content></level></subparagraph><subparagraph><num>(2)</num><content><p>“Derivative” has the meaning given by Article 2(5) of <ref eId="c00087" href="http://www.legislation.gov.uk/european/regulation/2012/0648">Regulation (EU) No. 648/2012</ref>.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Spot contracts</heading><paragraph class="schProv1"><num>5</num><subparagraph><num>(1)</num><intro><p>This paragraph applies to—</p></intro><level class="para1"><num>(a)</num><content><p>a spot contract, and</p></content></level><level class="para1"><num>(b)</num><content><p>a master agreement for spot contracts.</p></content></level></subparagraph><subparagraph><num>(2)</num><content><p>“Spot contract” has the meaning given by Article 7(2) or 10(2) of Commission Delegated Regulation of 25.4.2016 supplementing <ref eId="c00088" href="http://www.legislation.gov.uk/european/directive/2014/0065">Directive 2014/65/EU</ref> of the European Parliament and of the Council as regards organisational requirements and operating conditions for investment firms and defined terms for the purposes of that Directive.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Capital market investments</heading><paragraph class="schProv1"><num>6</num><subparagraph><num>(1)</num><content><p>This paragraph applies to an agreement which is, or forms part of, an arrangement involving the issue of a capital market investment.</p></content></subparagraph><subparagraph><num>(2)</num><content><p>“Capital market investment” has the meaning given by paragraph 14 of Schedule ZA1.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Contracts forming part of a public-private partnership</heading><paragraph class="schProv1"><num>7</num><content><p>This paragraph applies to a contract forming part of a public-private partnership project within the meaning given by paragraph 16 of Schedule ZA1.</p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Market contracts</heading><paragraph eId="d25e24388" class="schProv1"><num>8</num><content><p>This paragraph applies to a market contract within the meaning of Part 5 of the Companies (No.2) (Northern Ireland) Order 1990 (see Article 80 of that Order).</p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Qualifying collateral arrangements and qualifying property transfers</heading><paragraph class="schProv1"><num>9</num><content><p>This paragraph applies to qualifying collateral arrangements and qualifying property transfers within the meaning of Part 7 of the Companies Act 1989 (see section 155A of that Act).</p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Contracts secured by certain charges or arrangements</heading><paragraph class="schProv1"><num>10</num><intro><p>This paragraph applies to a contract where any obligation under the contract is—</p></intro><level class="para1"><num>(a)</num><content><p>secured by a market charge within the meaning of Part 5 of the Companies (No.2) (Northern Ireland) Order 1990 (see Article 95 of that Order),</p></content></level><level class="para1"><num>(b)</num><content><p>secured by a system-charge within the meaning of the <ref eId="c00089" href="http://www.legislation.gov.uk/id/nisr/1996/252">Financial Markets and Insolvency Regulations (Northern Ireland) 1996 (S.R. (N.I.) 1996/252)</ref> (see regulation 2 of those Regulations), or</p></content></level><level class="para1"><num>(c)</num><content><p>secured or otherwise covered by a financial collateral arrangement within the meaning of the Financial Collateral Arrangements (No. 2) Regulations 2003 (<ref eId="c00090" href="http://www.legislation.gov.uk/id/uksi/2003/3226">S.I. 2003/3226</ref>) (see regulation 3 of those Regulations).</p></content></level></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Default arrangements and transfer orders</heading><paragraph class="schProv1"><num>11</num><content><p>This paragraph applies to a contract which is included in default arrangements, or a transfer order, within the meaning of the Financial Markets and Insolvency (Settlement Finality) Regulations 1999 (<ref eId="c00091" href="http://www.legislation.gov.uk/id/uksi/1999/2979">S.I. 1999/2979</ref>) (see regulation 2 of those Regulations).</p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Card-based payment transactions</heading><paragraph class="schProv1"><num>12</num><content><p>This paragraph applies to a contract to accept and process card-based payment transactions within the meaning given by <ref eId="c00092" href="http://www.legislation.gov.uk/european/regulation/2015/0751">Regulation (EU) 2015/751</ref> of the European Parliament and of the Council of 29th April 2015 on interchange fees for card-based payment transactions.</p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Power to amend Schedule</heading><paragraph class="schProv1"><num>13</num><subparagraph><num>(1)</num><content><p>Regulations may amend this Schedule so as to change the meaning of “contract or other instrument involving financial services” for the purposes of Article <ref href="#d25e7009">13D</ref>.</p></content></subparagraph><subparagraph><num>(2)</num><content><p>Regulations may not be made under this paragraph unless a draft of the regulations has been laid before, and approved by a resolution of, the Assembly.</p></content></subparagraph></paragraph></hcontainer></hcontainer></quotedStructure></mod></p></content></hcontainer>
<hcontainer xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:default="http://www.w3.org/1999/xhtml" xmlns:fo="http://www.w3.org/1999/XSL/Format" name="schedule" eId="schedule-7"><num>SCHEDULE 7<authorialNote class="referenceNote"><p>Section 5</p></authorialNote></num><heading>Moratoriums in Northern Ireland: further amendments</heading><hcontainer name="crossheading" class="schGroup7"><heading>The Insolvency (Northern Ireland) Order 1989</heading><paragraph eId="schedule-7-paragraph-1" class="schProv1"><num>1</num><content><p>The Insolvency (Northern Ireland) Order 1989 is amended as follows.</p></content></paragraph><paragraph eId="schedule-7-paragraph-2" class="schProv1"><num>2</num><content><p>In each of the following places, for “Parts II to VII” substitute “Parts 1A to 7”—</p><blockList class="unordered none" ukl:Name="UnorderedList" ukl:Decoration="none"><item><p>the heading before Article 5;</p></item><item><p>Article 5(1);</p></item><item><p>Article 6(1) and (2);</p></item><item><p>Article 7;</p></item><item><p>Article 8;</p></item><item><p>the heading before Parts 2 to 7;</p></item><item><p>Article 315(6);</p></item><item><p>Article 366(1);</p></item><item><p>Article 374(1).</p></item></blockList></content></paragraph><paragraph eId="schedule-7-paragraph-3" class="schProv1"><num>3</num><intro><p>In Article 2(2), in the definition of “regulations”—</p></intro><level class="para1" eId="schedule-7-paragraph-3-a"><num>(a)</num><content><p>after “(except in” insert “Part 1A, Article 148A(6),”;</p></content></level><level class="para1" eId="schedule-7-paragraph-3-b"><num>(b)</num><content><p>omit “and paragraph 16 of Schedule A1”.</p></content></level></paragraph><paragraph eId="schedule-7-paragraph-4" class="schProv1"><num>4</num><subparagraph eId="schedule-7-paragraph-4-1"><num>(1)</num><content><p>Article 3 (meaning of “act as insolvency practitioner”) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-7-paragraph-4-2"><num>(2)</num><content><p>In paragraph (1)(a), for “or administrative receiver” substitute “, administrative receiver or monitor”.</p></content></subparagraph><subparagraph eId="schedule-7-paragraph-4-3"><num>(3)</num><content><p><mod>In paragraph (4), at the appropriate place insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="double"><hcontainer name="definition"><content><p>“monitor” has the same meaning as in Part 1A (moratorium).</p></content></hcontainer></quotedStructure></mod></p></content></subparagraph></paragraph><paragraph eId="schedule-7-paragraph-5" class="schProv1"><num>5</num><content><p>In Article 6 (meaning of “insolvency” etc), in paragraph (1), after “includes” insert “the coming into force of a moratorium for the company under Part 1A,”.</p></content></paragraph><paragraph eId="schedule-7-paragraph-6" class="schProv1"><num>6</num><content><p>Omit Article 14A (moratorium where directors propose voluntary arrangement).</p></content></paragraph><paragraph eId="schedule-7-paragraph-7" class="schProv1"><num>7</num><content><p>In Article 15 (procedure where nominee is not the liquidator or administrator), in paragraph (1), omit from “and the directors” to the end.</p></content></paragraph><paragraph eId="schedule-7-paragraph-8" class="schProv1"><num>8</num><subparagraph eId="schedule-7-paragraph-8-1"><num>(1)</num><content><p>Article 17 (decision of the company and its creditors in relation to voluntary arrangement) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-7-paragraph-8-2"><num>(2)</num><content><p><mod>After paragraph (4) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="order" ukl:Context="main" ukl:Format="double"><paragraph><num>(4A)</num><intro><p>Where the nominee’s report under Article 15(2) is submitted to the Court before the end of the period of 12 weeks beginning with the day after the end of any moratorium for the company under Part 1A, a meeting so summoned may not approve any proposal or modification under which the following are to be paid otherwise than in full—</p></intro><level class="para1"><num>(a)</num><content><p>moratorium debts (within the meaning given by Article 148A);</p></content></level><level class="para1"><num>(b)</num><content><p>priority pre-moratorium debts (within the meaning given by Article 148A);</p></content></level><wrapUp><p>but this is subject to paragraph (4B).</p></wrapUp></paragraph><paragraph><num>(4B)</num><content><p>Paragraph (4A) does not prevent the approval of such a proposal or modification with the concurrence of the creditor concerned.</p></content></paragraph></quotedStructure></mod></p></content></subparagraph><subparagraph eId="schedule-7-paragraph-8-3"><num>(3)</num><content><p>In paragraph (5), for “and (4)” substitute “to (4B)”.</p></content></subparagraph></paragraph><paragraph eId="schedule-7-paragraph-9" class="schProv1"><num>9</num><subparagraph eId="schedule-7-paragraph-9-1"><num>(1)</num><content><p>Article 17A (approval of voluntary arrangement) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-7-paragraph-9-2"><num>(2)</num><content><p>In paragraph (2)(b), for “(4)” substitute “(6)”.</p></content></subparagraph><subparagraph eId="schedule-7-paragraph-9-3"><num>(3)</num><intro><p>In paragraph (5)—</p></intro><level class="para1" eId="schedule-7-paragraph-9-3-a"><num>(a)</num><content><p>for “within the meaning given by paragraph 54 of Schedule A1” substitute “as defined by Article 13H(13)”;</p></content></level><level class="para1" eId="schedule-7-paragraph-9-3-b"><num>(b)</num><content><p>for “within the meaning of paragraph 54 of Schedule A1” substitute “as defined by Article 13H(13)”.</p></content></level></subparagraph></paragraph><paragraph eId="schedule-7-paragraph-10" class="schProv1"><num>10</num><subparagraph eId="schedule-7-paragraph-10-1"><num>(1)</num><content><p>Article 18 (effect of approval of voluntary arrangement) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-7-paragraph-10-2"><num>(2)</num><content><p>In paragraph (3), for “paragraph (4)” substitute “paragraphs (3A) and (4)”.</p></content></subparagraph><subparagraph eId="schedule-7-paragraph-10-3"><num>(3)</num><content><p><mod>After paragraph (3) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="order" ukl:Context="main" ukl:Format="double"><paragraph><num>(3A)</num><content><p>Where immediately before the voluntary arrangement took effect a moratorium for the company was in force under Part 1A and a petition for the winding up of the company, other than an excepted petition within the meaning of Article 13DB, was presented before the beginning of the moratorium, the High Court must dismiss the petition.</p></content></paragraph></quotedStructure></mod></p></content></subparagraph><subparagraph eId="schedule-7-paragraph-10-4"><num>(4)</num><content><p>In paragraph (4) after “paragraph (3)(a)” insert “or dismiss a petition under paragraph (3A)”.</p></content></subparagraph></paragraph><paragraph eId="schedule-7-paragraph-11" class="schProv1"><num>11</num><subparagraph eId="schedule-7-paragraph-11-1"><num>(1)</num><content><p>Article 20A (prosecution of delinquent officers of company) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-7-paragraph-11-2"><num>(2)</num><content><p><mod>For paragraph (1) substitute—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="order" ukl:Context="main" ukl:Format="double"><paragraph><num>(1)</num><content><p>This Article applies where the approval of a voluntary arrangement in relation to a company has taken effect under Article 17A.</p></content></paragraph></quotedStructure></mod></p></content></subparagraph><subparagraph eId="schedule-7-paragraph-11-3"><num>(3)</num><intro><p>In paragraph (2)—</p></intro><level class="para1" eId="schedule-7-paragraph-11-3-a"><num>(a)</num><content><p>for the words before sub-paragraph (a) substitute “If it appears to the supervisor that any past or present officer of the company has committed an offence in connection with the voluntary arrangement, the supervisor must forthwith”;</p></content></level><level class="para1" eId="schedule-7-paragraph-11-3-b"><num>(b)</num><content><p>in sub-paragraph (b), omit “nominee or”.</p></content></level></subparagraph><subparagraph eId="schedule-7-paragraph-11-4"><num>(4)</num><content><p>In paragraph (8), omit “nominee or”.</p></content></subparagraph></paragraph><paragraph eId="schedule-7-paragraph-12" class="schProv1"><num>12</num><intro><p>In Article 20B (arrangements coming to an end prematurely) omit—</p></intro><level class="para1" eId="schedule-7-paragraph-12-a"><num>(a)</num><content><p>“or paragraph 46 of Schedule A1”;</p></content></level><level class="para1" eId="schedule-7-paragraph-12-b"><num>(b)</num><content><p>“or, as the case may be, paragraph 47(2)(b)(i) of Schedule A1”.</p></content></level></paragraph><paragraph eId="schedule-7-paragraph-13" class="schProv1"><num>13</num><content><p>In Article 100 (expenses of voluntary winding up), at the beginning insert “After the payment of any liabilities to which Article 148A applies,”.</p></content></paragraph><paragraph eId="schedule-7-paragraph-14" class="schProv1"><num>14</num><content><p>In Article 102 (circumstances in which company may be wound up by the High Court), omit sub-paragraph (fa).</p></content></paragraph><paragraph eId="schedule-7-paragraph-15" class="schProv1"><num>15</num><content><p>In Article 104 (application for winding up by the High Court), omit paragraph (4A).</p></content></paragraph><paragraph eId="schedule-7-paragraph-16" class="schProv1"><num>16</num><content><p><mod>In Article 107 (avoidance of property dispositions etc), after paragraph (2) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="order" ukl:Context="main" ukl:Format="double"><paragraph><num>(3)</num><content><p>This Article has no effect in respect of anything done during a moratorium under Part 1A, or during a period mentioned in Article 18(4)(a) following the end of a moratorium, where the winding-up order was made on a petition presented before the moratorium begins, unless the petition was presented under section 367 of the Financial Services and Markets Act 2000 on the ground mentioned in section 367(3)(b) of that Act.</p></content></paragraph></quotedStructure></mod></p></content></paragraph><paragraph eId="schedule-7-paragraph-17" class="schProv1"><num>17</num><content><p><mod>Before Article 149 (and before the italic heading “Preferential debts” above that Article) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="order" ukl:Context="main" ukl:Format="double"><hcontainer name="crossheading" ukl:Name="Pblock"><heading>Moratorium: order of priority of payment of debts</heading><article><heading>Moratorium debts etc: priority</heading><num>148A</num><paragraph><num>(1)</num><content><p>This Article applies where proceedings for the winding up of a company are begun before the end of the period of 12 weeks beginning with the day after the end of any moratorium for the company under Part 1A.</p></content></paragraph><paragraph eId="d25e24846"><num>(2)</num><intro><p>In the winding up, the following are payable out of the company’s assets (in the order of priority shown) in preference to all other claims—</p></intro><level class="para1"><num>(a)</num><content><p>any prescribed fees or expenses of the official receiver acting in any capacity in relation to the company;</p></content></level><level class="para1" eId="d25e24858"><num>(b)</num><content><p>moratorium debts and priority pre-moratorium debts.</p></content></level></paragraph><paragraph><num>(3)</num><intro><p>In paragraph <ref href="#d25e24858">(2)(b)</ref> “priority pre-moratorium debt” means—</p></intro><level class="para1"><num>(a)</num><intro><p>any pre-moratorium debt that is payable in respect of—</p></intro><level class="para2"><num>(i)</num><content><p>the monitor’s remuneration or expenses,</p></content></level><level class="para2" eId="d25e24885"><num>(ii)</num><content><p>goods or services supplied during the moratorium,</p></content></level><level class="para2"><num>(iii)</num><content><p>rent in respect of a period during the moratorium, or</p></content></level><level class="para2"><num>(iv)</num><content><p>wages or salary arising under a contract of employment, so far as relating to a period of employment before or during the moratorium,</p></content></level></level><level class="para1"><num>(b)</num><intro><p>any pre-moratorium debt that—</p></intro><level class="para2"><num>(i)</num><content><p>consists of a liability to make a redundancy payment, and</p></content></level><level class="para2"><num>(ii)</num><content><p>fell due before or during the moratorium, and</p></content></level></level><level class="para1" eId="d25e24921"><num>(c)</num><intro><p>any pre-moratorium debt that—</p></intro><level class="para2"><num>(i)</num><content><p>arises under a contract or other instrument involving financial services,</p></content></level><level class="para2"><num>(ii)</num><content><p>fell due before or during the moratorium, and</p></content></level><level class="para2"><num>(iii)</num><content><p>is not relevant accelerated debt (see paragraph <ref href="#d25e24948">(4)</ref>).</p></content></level></level></paragraph><paragraph eId="d25e24948"><num>(4)</num><intro><p>For the purposes of paragraph <ref href="#d25e24921">(3)(c)</ref>—</p></intro><hcontainer name="definition"><content><p>“relevant accelerated debt” means any pre-moratorium debt that fell due during the relevant period by reason of the operation of, or the exercise of rights under, an acceleration or early termination clause in a contract or other instrument involving financial services;</p></content></hcontainer><hcontainer name="definition"><intro><p>“the relevant period” means the period—</p></intro><level class="para1"><num>(a)</num><content><p>beginning with the day on which the statement under Article 13BC(1)(e) is made, and</p></content></level><level class="para1"><num>(b)</num><content><p>ending with the last day of the moratorium.</p></content></level></hcontainer></paragraph><paragraph eId="d25e24975"><num>(5)</num><content><p>The rules may make provision as to the order in which the debts mentioned in paragraph (2)(b) rank among themselves in a case where the assets of the company are insufficient to meet them in full.</p></content></paragraph><paragraph eId="d25e24981"><num>(6)</num><content><p>Regulations may amend this Article for the purposes of changing the definition of “moratorium debt” or “priority pre-moratorium debt” in this Article.</p></content></paragraph><paragraph><num>(7)</num><content><p>Regulations under paragraph <ref href="#d25e24981">(6)</ref> may make consequential, supplementary, incidental or transitional provision or savings.</p></content></paragraph><paragraph><num>(8)</num><content><p>Regulations may not be made under paragraph <ref href="#d25e24981">(6)</ref> unless a draft of the regulations has been laid before, and approved by a resolution of, the Assembly.</p></content></paragraph><paragraph><num>(9)</num><intro><p>For the purposes of this Article proceedings for the winding up of a company are begun when—</p></intro><level class="para1"><num>(a)</num><content><p>a winding-up petition is presented, or</p></content></level><level class="para1"><num>(b)</num><content><p>a resolution for voluntary winding up is passed.</p></content></level></paragraph><paragraph><num>(10)</num><content><p>Any rules made under Article 13D(4) (meaning of supply of goods or services) apply also for the purposes of paragraph <ref href="#d25e24885">(3)(a)(ii)</ref> of this Article.</p></content></paragraph><paragraph><num>(11)</num><intro><p>In this Article—</p></intro><hcontainer name="definition"><intro><p>“acceleration or early termination clause”, in relation to a contract or other instrument involving financial services, means a provision of the contract or other instrument—</p></intro><level class="para1"><num>(a)</num><content><p>under which, on the happening of an event—</p><blockList class="ordered roman parens" ukl:Name="OrderedList" ukl:Type="roman" ukl:Decoration="parens"><item><num>(i)</num><p>a debt or other liability falls due earlier than it otherwise would, or</p></item><item><num>(ii)</num><p>a debt or other liability is terminated and replaced by another debt or liability, or</p></item></blockList></content></level><level class="para1"><num>(b)</num><content><p>which confers on a party a right which, if exercised, will result in —</p><blockList class="ordered roman parens" ukl:Name="OrderedList" ukl:Type="roman" ukl:Decoration="parens"><item><num>(i)</num><p>a debt or other liability falling due earlier than it otherwise would, or</p></item><item><num>(ii)</num><p>a debt or other liability being terminated and replaced by another debt or liability;</p></item></blockList></content></level></hcontainer><hcontainer name="definition"><content><p>“contract or other instrument involving financial services” has the same meaning as it has for the purposes of Article 13D (see Schedule ZA2);</p></content></hcontainer><hcontainer name="definition"><content><p>“monitor’s remuneration or expenses” has the meaning given by Article 13D;</p></content></hcontainer><hcontainer name="definition"><content><p>“moratorium debt” has the meaning given by Article 13HD;</p></content></hcontainer><hcontainer name="definition"><content><p>“pre-moratorium debt” has the meaning given by Article 13HD;</p></content></hcontainer><hcontainer name="definition"><content><p>“redundancy payment” has the meaning given by Article 13D;</p></content></hcontainer><hcontainer name="definition"><content><p>“wages or salary” has the meaning given by Article 13D.</p></content></hcontainer></paragraph></article></hcontainer></quotedStructure></mod></p></content></paragraph><paragraph eId="schedule-7-paragraph-18" class="schProv1"><num>18</num><subparagraph eId="schedule-7-paragraph-18-1"><num>(1)</num><content><p>Article 149 (preferential debts: general provision) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-7-paragraph-18-2"><num>(2)</num><intro><p>In paragraph (1), at the end insert “after the payment of—</p></intro><level class="para1" eId="schedule-7-paragraph-18-2-a"><num>(a)</num><content><p>any liabilities to which Article 148A applies, and</p></content></level><level class="para1" eId="schedule-7-paragraph-18-2-b"><num>(b)</num><content><p>expenses of the winding up.”</p></content></level></subparagraph><subparagraph eId="schedule-7-paragraph-18-3"><num>(3)</num><content><p>In paragraph (1A), omit “after the expenses of the winding up”.</p></content></subparagraph></paragraph><paragraph eId="schedule-7-paragraph-19" class="schProv1"><num>19</num><subparagraph eId="schedule-7-paragraph-19-1"><num>(1)</num><content><p>Article 197 (supplies of water, electricity, etc) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-7-paragraph-19-2"><num>(2)</num><intro><p>In paragraph (1)—</p></intro><level class="para1" eId="schedule-7-paragraph-19-2-a"><num>(a)</num><content><p>omit sub-paragraph (ba) (including the “or” at the end);</p></content></level><level class="para1" eId="schedule-7-paragraph-19-2-b"><num>(b)</num><content><p>in the words after sub-paragraph (e), omit “the nominee,”.</p></content></level></subparagraph><subparagraph eId="schedule-7-paragraph-19-3"><num>(3)</num><content><p>In paragraph (4), omit sub-paragraph (ba).</p></content></subparagraph></paragraph><paragraph eId="schedule-7-paragraph-20" class="schProv1"><num>20</num><content><p><mod>In Article 208ZA (remote attendance at meetings), as inserted by section 1(1) of the Insolvency (Amendment) Act (Northern Ireland) 2016, in paragraph (9), before sub-paragraph (a) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="order" ukl:Context="main" ukl:Format="double"><level class="para1"><num>(za)</num><content><p>the monitor in relation to a moratorium under Part 1A;</p></content></level></quotedStructure><inline name="appendText">.</inline></mod></p></content></paragraph><paragraph eId="schedule-7-paragraph-21" class="schProv1"><num>21</num><content><p><mod>In Article 208ZB (use of websites), as inserted by section 1(1) of the Insolvency (Amendment) Act (Northern Ireland) 2016, in paragraph (2), before sub-paragraph (a) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="order" ukl:Context="main" ukl:Format="double"><level class="para1"><num>(za)</num><content><p>the monitor in relation to a moratorium under Part 1A;</p></content></level></quotedStructure><inline name="appendText">.</inline></mod></p></content></paragraph><paragraph eId="schedule-7-paragraph-22" class="schProv1"><num>22</num><content><p>In Article 347 (“the relevant date” in relation to preferential debts), omit paragraph (2A).</p></content></paragraph><paragraph eId="schedule-7-paragraph-23" class="schProv1"><num>23</num><subparagraph eId="schedule-7-paragraph-23-1"><num>(1)</num><content><p>Article 362 (monetary limits) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-7-paragraph-23-2"><num>(2)</num><content><p><mod>In paragraph (1), before sub-paragraph (a) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="order" ukl:Context="main" ukl:Format="double"><level class="para1"><num>(za)</num><content><p>increase or reduce any of the money sums for the time being specified in the following provisions of Part 1A—</p><blockList class="unordered none" ukl:Name="UnorderedList" ukl:Decoration="none"><item><p>Article 13DG(1) (maximum amount of credit which company may obtain without disclosing moratorium);</p></item><item><p>Article 13DJ(2) (maximum amount for certain payments without obtaining monitor consent etc);</p></item><item><p>Article 13G(2) (minimum value of company property concealed or fraudulently removed, affecting criminal liability of company’s officer); or</p></item></blockList></content></level></quotedStructure><inline name="appendText">.</inline></mod></p></content></subparagraph><subparagraph eId="schedule-7-paragraph-23-3"><num>(3)</num><content><p>Omit paragraph (1)(c) (money sums: company moratorium) and the “or” before it.</p></content></subparagraph></paragraph><paragraph eId="schedule-7-paragraph-24" class="schProv1"><num>24</num><content><p>In Article 373 (offences: disapplication of section 20(2) of the 1954 Act), in paragraph (4), after “Articles” insert “13DA(5), 13DG(3), 13DH(4), 13DI(1), 13DJ(5), 13DK(6), 13DL(2), 13DM(9), 13DN(4),”.</p></content></paragraph><paragraph eId="schedule-7-paragraph-25" class="schProv1"><num>25</num><content><p>In Article 383(a), for “Parts 2 to 7” substitute “Parts 1A to 7”.</p></content></paragraph><paragraph eId="schedule-7-paragraph-26" class="schProv1"><num>26</num><content><p>Omit Schedule A1 (moratorium where directors propose voluntary arrangement).</p></content></paragraph><paragraph eId="schedule-7-paragraph-27" class="schProv1"><num>27</num><subparagraph eId="schedule-7-paragraph-27-1"><num>(1)</num><content><p>Schedule B1 (administration) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-7-paragraph-27-2"><num>(2)</num><content><p>Omit paragraph 25.</p></content></subparagraph><subparagraph eId="schedule-7-paragraph-27-3"><num>(3)</num><content><p><mod>Before paragraph 66 (but after the italic heading “Distribution”) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="order" ukl:Context="main" ukl:Format="double"><article><num>65A</num><paragraph><num>(1)</num><content><p>This paragraph applies where a company enters administration before the end of the period of 12 weeks beginning with the day after the end of any moratorium under Part 1A.</p></content></paragraph><paragraph><num>(2)</num><intro><p>The administrator must make a distribution to the creditors of the company in respect of—</p></intro><level class="para1"><num>(a)</num><content><p>moratorium debts (within the meaning given by Article 148A), and</p></content></level><level class="para1"><num>(b)</num><content><p>priority pre-moratorium debts (within the meaning given by Article 148A).</p></content></level></paragraph><paragraph><num>(3)</num><intro><p>A sum payable under sub-paragraph (2) is to be paid in priority to—</p></intro><level class="para1"><num>(a)</num><content><p>any security to which paragraph 71 applies;</p></content></level><level class="para1"><num>(b)</num><content><p>any sums payable under paragraph 100.</p></content></level></paragraph><paragraph><num>(4)</num><content><p>The administrator must realise any property necessary to comply with sub-paragraph (2).</p></content></paragraph><paragraph><num>(5)</num><content><p>The rules may make provision as to the order in which the moratorium and priority pre-moratorium debts rank among themselves for the purposes of this paragraph in a case where the assets of the company are insufficient to meet them in full.</p></content></paragraph></article></quotedStructure></mod></p></content></subparagraph><subparagraph eId="schedule-7-paragraph-27-4"><num>(4)</num><content><p><mod>In paragraph 66, for sub-paragraph (1) substitute—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="order" ukl:Context="main" ukl:Format="double"><paragraph><num>(1)</num><content><p>If the assets of a company are sufficient to meet any debts or other liabilities payable under paragraph 65A in full, the administrator of the company may make a distribution to any other creditor of the company.</p></content></paragraph></quotedStructure></mod></p></content></subparagraph><subparagraph eId="schedule-7-paragraph-27-5"><num>(5)</num><content><p>In paragraph 67, for “The administrator of a company” substitute “If the debts or other liabilities payable under paragraph 65A have been met, the administrator of a company”.</p></content></subparagraph></paragraph><paragraph eId="schedule-7-paragraph-28" class="schProv1"><num>28</num><subparagraph eId="schedule-7-paragraph-28-1"><num>(1)</num><content><p>Schedule 5 (provision capable of inclusion in company insolvency rules) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-7-paragraph-28-2"><num>(2)</num><content><p>In paragraph 8, after “is,” insert “the monitor in relation to a moratorium under Part 1A or”.</p></content></subparagraph></paragraph><paragraph eId="schedule-7-paragraph-29" class="schProv1"><num>29</num><subparagraph eId="schedule-7-paragraph-29-1"><num>(1)</num><content><p>Schedule 7 (punishment of offences under the Order) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-7-paragraph-29-2"><num>(2)</num><content><p>Omit the entries relating to Schedule A1.</p></content></subparagraph><subparagraph eId="schedule-7-paragraph-29-3"><num>(3)</num><content><p><mod>At the appropriate place insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="order" ukl:Context="main" ukl:Format="double"><tblock class="table" ukl:Orientation="portrait"><foreign><default:table xmlns="http://www.w3.org/1999/xhtml"><default:col span="1" style="width:25%"/><default:col span="1" style="width:35%"/><default:col span="1" style="width:20%"/><default:col span="1" style="width:20%"/><default:tbody><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" rowspan="2" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0"><ref href="#d25e5890">13BE</ref><ref href="#d25e5962">(4)</ref></p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black" rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Directors failing to notify monitor of beginning of moratorium.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2 years or a fine or both.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">6 months orthe statutorymaximum orboth.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0"><ref href="#d25e5890">13BE</ref><ref href="#d25e5971">(5)</ref></p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Monitor failing to notify creditors etc of beginning of moratorium.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Summary.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Level 3 on the standard scale.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" rowspan="2" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0"><ref href="#d25e6751">13CH</ref><ref href="#d25e6947">(6)</ref></p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black" rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Directors failing to notify monitor of change in end of moratorium.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2 years or a fine or both.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">6 months orthe statutorymaximum orboth.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0"><ref href="#d25e6751">13CH</ref><ref href="#d25e6956">(7)</ref></p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Monitor failing to notify creditors etc of change in end of moratorium.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Summary.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Level 3 on the standard scale.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0"><ref href="#d25e7152">13DA</ref><ref href="#d25e7215">(5)</ref></p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Company or officer failing to state in correspondence etc that moratorium in force.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Summary.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Level 3 on the standard scale.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" rowspan="2" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0"><ref href="#d25e7730">13DF</ref><ref href="#d25e7776">(4)</ref></p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black" rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Directors failing to notify monitor of insolvency proceedings etc.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2 years or a fine or both.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">6 months orthe statutorymaximum orboth.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" rowspan="2" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0"><ref href="#d25e7794">13DG</ref><ref href="#d25e7837">(3)(a)</ref></p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black" rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Company obtaining credit without disclosing existence of moratorium.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A fine.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">The statutory maximum.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" rowspan="2" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0"><ref href="#d25e7794">13DG</ref><ref href="#d25e7843">(3)(b)</ref></p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black" rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Obtaining credit for company without disclosing existence of moratorium.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2 years or a fine or both.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">6 months orthe statutorymaximum orboth.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" rowspan="2" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0"><ref href="#d25e7852">13DH</ref><ref href="#d25e7889">(4)(a)</ref></p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black" rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Company granting security without monitor’s consent.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A fine.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">The statutory maximum.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" rowspan="2" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0"><ref href="#d25e7852">13DH</ref><ref href="#d25e7895">(4)(b)</ref></p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black" rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Authorising or permitting company to do so.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2 years or a fine or both.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">6 months orthe statutorymaximum orboth.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" rowspan="2" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0"><ref href="#d25e7925">13DI</ref><ref href="#d25e7935">(1)(a)</ref></p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black" rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Company entering into market contract, etc.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A fine.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">The statutory maximum.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" rowspan="2" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0"><ref href="#d25e7925">13DI</ref><ref href="#d25e7941">(1)(b)</ref></p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black" rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Authorising or permitting company to do so.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2 years or a fine or both.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">6 months orthe statutorymaximum orboth.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" rowspan="2" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0"><ref href="#d25e8057">13DJ</ref><ref href="#d25e8149">(5)(a)</ref></p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black" rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Company making unauthorised payments.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A fine.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">The statutory maximum.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" rowspan="2" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0"><ref href="#d25e8057">13DJ</ref><ref href="#d25e8155">(5)(b)</ref></p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black" rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Authorising or permitting company to do so.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2 years or a fine or both.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">6 months orthe statutorymaximum orboth.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" rowspan="2" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0"><ref href="#d25e8164">13DK</ref><ref href="#d25e8251">(6)(a)</ref></p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black" rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Company making unauthorised disposal of property.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A fine.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">The statutory maximum.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" rowspan="2" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0"><ref href="#d25e8164">13DK</ref><ref href="#d25e8257">(6)(b)</ref></p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black" rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Authorising or permitting such a disposal.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2 years or a fine or both.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">6 months orthe statutorymaximum orboth.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" rowspan="2" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0"><ref href="#d25e8266">13DL</ref><ref href="#d25e8302">(2)(a)</ref></p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black" rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Unauthorised disposal of hire-purchase property.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A fine.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">The statutory maximum.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" rowspan="2" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0"><ref href="#d25e8266">13DL</ref><ref href="#d25e8308">(2)(b)</ref></p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black" rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Authorising or permitting such a disposal.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2 years or a fine or both.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">6 months orthe statutorymaximum orboth.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0"><ref href="#d25e8320">13DM</ref><ref href="#d25e8396">(8)</ref></p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Directors failing to send to registrar copy of court order permitting disposal of charged property.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Summary.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Level 3 on the standard scale.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" rowspan="2" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0"><ref href="#d25e8320">13DM</ref><ref href="#d25e8414">(9)(a)</ref></p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black" rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Company failing to comply with requirements relating to disposal of charged property.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A fine.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">The statutory maximum.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" rowspan="2" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0"><ref href="#d25e8320">13DM</ref><ref href="#d25e8420">(9)(b)</ref></p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black" rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Authorising or permitting such a failure.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2 years or a fine or both.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">6 months orthe statutorymaximum orboth.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" rowspan="2" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0"><ref href="#d25e8441">13DN</ref><ref href="#d25e8490">(4)(a)</ref></p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black" rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Company failing to comply with requirements relating to disposal of hire-purchase property.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A fine.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">The statutory maximum.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" rowspan="2" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0"><ref href="#d25e8441">13DN</ref><ref href="#d25e8496">(4)(b)</ref></p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black" rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Authorising or permitting such a failure.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2 years or a fine or both.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">6 months orthe statutorymaximum orboth.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0"><ref href="#d25e8441">13DN</ref><ref href="#d25e8511">(6)</ref></p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Directors failing to send to registrar copy of court order permitting disposal of hire-purchase property.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Summary.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Level 3 on the standard scale.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0"><ref href="#d25e8729">13EE</ref><ref href="#d25e8850">(9)</ref></p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Monitor failing to notify creditors etc of change in monitor.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Summary.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Level 3 on the standard scale.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" rowspan="2" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0"><ref href="#d25e9260">13G</ref><ref href="#d25e9264">(1)</ref></p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black" rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Fraud or privity to fraud during or in anticipation of moratorium.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2 years or a fine or both.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">6 months or the statutory maximum or both.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" rowspan="2" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0"><ref href="#d25e9260">13G</ref><ref href="#d25e9372">(4)</ref></p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black" rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Knowingly taking in pawn or pledge, or otherwise receiving, company property.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2 years or a fine or both.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">6 months orthe statutorymaximum orboth.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" rowspan="2" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0"><ref href="#d25e9408">13GA</ref><ref href="#d25e9412">(1)</ref></p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black" rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">False representation or fraud for purpose of obtaining or extending moratorium.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2 years or a fine or both.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">6 months orthe statutorymaximum orboth.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" rowspan="2" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0"><ref href="#d25e9564">13H</ref><ref href="#d25e9631">(5)</ref></p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black" rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Directors failing to notify regulator of qualifying decision procedure in relation to regulated company</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2 years or a fine or both.</p></default:td></default:tr><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">6 months orthe statutorymaximum orboth.</p></default:td></default:tr></default:tbody></default:table></foreign></tblock></quotedStructure></mod></p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Building Societies Act 1986</heading><paragraph eId="schedule-7-paragraph-30" class="schProv1"><num>30</num><content><p>In Schedule 15A to the Building Societies Act 1986 (application of other companies insolvency legislation to building societies), in paragraph 1(2)(b), omit “(except Article 14A)”.</p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Limited Liability Partnerships Act 2000</heading><paragraph eId="schedule-7-paragraph-31" class="schProv1"><num>31</num><content><p>In section 14 of the Limited Liability Partnerships Act 2000 (regulations to make provision about insolvency and winding up), in subsection (1)(b), for “Parts 2” substitute “Parts 1A”.</p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>The Financial Services and Markets Act 2000 (Disclosure of Confidential Information) Regulations 2001</heading><paragraph eId="schedule-7-paragraph-32" class="schProv1"><num>32</num><content><p><mod>In Schedule 2 to the Financial Services and Markets Act 2000 (Disclosure of Confidential Information) Regulations 2001 (<ref eId="c00093" href="http://www.legislation.gov.uk/id/uksi/2001/2188">S.I. 2001/2188</ref>) (disclosure of confidential information), at the end of the table (after the entry inserted by Schedule 3) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="schedule" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="schedule" ukl:Format="double"><tblock class="table" ukl:Orientation="portrait"><foreign><default:table xmlns="http://www.w3.org/1999/xhtml"><default:col span="1" style="width:54%"/><default:col span="1" style="width:46%"/><default:tbody><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">The monitor in relation to a moratorium under Part 1A of the Insolvency (Northern Ireland) Order 1989</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">The monitor’s functions in relation to the moratorium</p></default:td></default:tr></default:tbody></default:table></foreign></tblock></quotedStructure><inline name="appendText">.</inline></mod></p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>The Insolvency Practitioners Regulations (Northern Ireland) 2006</heading><paragraph eId="schedule-7-paragraph-33" class="schProv1"><num>33</num><content><p><mod>In regulation 2 of the <ref eId="c00094" href="http://www.legislation.gov.uk/id/nisr/2006/33">Insolvency Practitioners Regulations (Northern Ireland) 2006 (S.R. (N. I.) 2006/33)</ref> (interpretation: general), in paragraph (2), before sub-paragraph (a) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="regulation" ukl:Context="main" ukl:Format="double"><level class="para1"><num>(za)</num><intro><p>where the insolvency practitioner acts as the monitor in relation to a moratorium under Part 1A of the Order, whichever is the earlier of the date on which—</p></intro><level class="para2"><num>(i)</num><content><p>the moratorium comes to an end, or</p></content></level><level class="para2"><num>(ii)</num><content><p>the insolvency practitioner otherwise ceases to act as the monitor in relation to the moratorium;</p></content></level></level></quotedStructure><inline name="appendText">.</inline></mod></p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Insolvency (Northern Ireland) Order 2002 (<ref eId="c00095" href="http://www.legislation.gov.uk/id/nisi/2002/3152">S.I. 2002/3152 (N.I. 6)</ref>)</heading><paragraph eId="schedule-7-paragraph-34" class="schProv1"><num>34</num><subparagraph eId="schedule-7-paragraph-34-1"><num>(1)</num><content><p>The Insolvency (Northern Ireland) Order 2002 is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-7-paragraph-34-2"><num>(2)</num><intro><p>In Schedule 1, omit—</p></intro><level class="para1" eId="schedule-7-paragraph-34-2-a"><num>(a)</num><content><p>paragraphs 2 to 5, 7 and 8;</p></content></level><level class="para1" eId="schedule-7-paragraph-34-2-b"><num>(b)</num><content><p>paragraph 9(2)(a) and (c) and (3)(a);</p></content></level><level class="para1" eId="schedule-7-paragraph-34-2-c"><num>(c)</num><content><p>paragraphs 10 to 12.</p></content></level></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Insolvency (Northern Ireland) Order 2005 (<ref eId="c00096" href="http://www.legislation.gov.uk/id/nisi/2005/1455">S.I. 2005/1455 (N.I. 10)</ref>)</heading><paragraph eId="schedule-7-paragraph-35" class="schProv1"><num>35</num><content><p>The Insolvency (Northern Ireland) Order 2005 is amended as follows.</p></content></paragraph><paragraph eId="schedule-7-paragraph-36" class="schProv1"><num>36</num><subparagraph eId="schedule-7-paragraph-36-1"><num>(1)</num><content><p>Article 10 is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-7-paragraph-36-2"><num>(2)</num><content><p>At the end of the heading insert “etc”.</p></content></subparagraph><subparagraph eId="schedule-7-paragraph-36-3"><num>(3)</num><intro><p>In paragraph (2)—</p></intro><level class="para1" eId="schedule-7-paragraph-36-3-a"><num>(a)</num><content><p><mod>after “by order provide for” insert <quotedText startQuote="“">—</quotedText><quotedStructure endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="order" ukl:Context="main" ukl:Format="double"><level class="para1"><num>(i)</num><content><p>Part 1A of the 1989 Order (moratorium), or</p></content></level></quotedStructure><inline name="appendText">;</inline></mod></p></content></level><level class="para1" eId="schedule-7-paragraph-36-3-b"><num>(b)</num><content><p>the words “a company arrangement or administration provision” become sub-paragraph (ii) of that paragraph.</p></content></level></subparagraph></paragraph><paragraph eId="schedule-7-paragraph-37" class="schProv1"><num>37</num><content><p>Omit Article 11.</p></content></paragraph><paragraph eId="schedule-7-paragraph-38" class="schProv1"><num>38</num><content><p>In Schedule 2, omit paragraph 45.</p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Insolvency (Amendment) Act (Northern Ireland) 2016</heading><paragraph eId="schedule-7-paragraph-39" class="schProv1"><num>39</num><content><p>In Schedule 3 to the Insolvency (Amendment) Act (Northern Ireland) 2016 omit paragraph 17.</p></content></paragraph></hcontainer></hcontainer>
<hcontainer xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" name="schedule" eId="schedule-8"><num>SCHEDULE 8<authorialNote class="referenceNote"><p>Section 6</p></authorialNote></num><heading>Moratoriums in Northern Ireland: temporary provision</heading><part eId="schedule-8-part-1"><num>PART 1</num><heading>“Relevant period” and powers to turn off temporary provision</heading><hcontainer name="crossheading" class="schGroup7"><heading>“Relevant period”</heading><paragraph eId="schedule-8-paragraph-1" class="schProv1"><num>1</num><intro><p>In this Schedule “relevant period” means the period which—</p></intro><level class="para1" eId="schedule-8-paragraph-1-a"><num>(a)</num><content><p>begins with the day on which this Schedule comes into force, and</p></content></level><level class="para1" eId="schedule-8-paragraph-1-b"><num>(b)</num><content><p>ends with 30 September 2020.</p></content></level></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Power to turn off particular provisions of Part 2 of this Schedule early</heading><paragraph eId="schedule-8-paragraph-2" class="schProv1"><num>2</num><subparagraph eId="schedule-8-paragraph-2-1"><num>(1)</num><content><p>The Department for the Economy in Northern Ireland may by regulations provide for any provision made by Part 2 of this Schedule to cease to have effect before the end of the relevant period.</p></content></subparagraph><subparagraph eId="schedule-8-paragraph-2-2"><num>(2)</num><content><p>The regulations may include transitional provision or savings.</p></content></subparagraph><subparagraph eId="schedule-8-paragraph-2-3"><num>(3)</num><content><p>The power of the Department to make regulations under this paragraph is exercisable by statutory rule for the purposes of the Statutory Rules (Northern Ireland) Order 1979 (<ref eId="c00097" href="http://www.legislation.gov.uk/id/nisi/1979/1573">S.I. 1979/1573 (N.I. 12)</ref>) (and not by statutory instrument).</p></content></subparagraph><subparagraph eId="schedule-8-paragraph-2-4"><num>(4)</num><content><p>Regulations made under this paragraph are subject to negative resolution within the meaning of section 41(6) of the Interpretation Act (Northern Ireland) 1954.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Power to turn off provisions of Part 3 of this Schedule early etc</heading><paragraph eId="schedule-8-paragraph-3" class="schProv1"><num>3</num><content><p>Rules under Article 359 of the Insolvency (Northern Ireland) Order 1989 may provide for any provision made by paragraphs <ref href="#schedule-8-paragraph-13">13</ref> to <ref href="#schedule-8-paragraph-54">54</ref> to cease to have effect before the end of the relevant period.</p></content></paragraph><paragraph eId="schedule-8-paragraph-4" class="schProv1"><num>4</num><content><p>Rules under Article 359 of the Insolvency (Northern Ireland) Order 1989 may make transitional provision or savings in connection with any provision made by paragraphs <ref href="#schedule-8-paragraph-13">13</ref> to <ref href="#schedule-8-paragraph-54">54</ref> ceasing to have effect (whether by virtue of paragraph <ref href="#schedule-8-paragraph-3">3</ref> or <ref href="#schedule-8-paragraph-12">12</ref>).</p></content></paragraph></hcontainer></part><part eId="schedule-8-part-2"><num>PART 2</num><heading>Modifications to primary legislation</heading><hcontainer name="crossheading" class="schGroup7"><heading>“Eligible” company: additional exclusion</heading><paragraph eId="schedule-8-paragraph-5" class="schProv1"><num>5</num><intro><p>During the relevant period, a company is not eligible for the purposes of Article <ref href="#d25e5540">13B</ref>, <ref href="#d25e5592">13BA</ref> or <ref href="#d25e5647">13BB</ref> of the Insolvency (Northern Ireland) Order 1989 if the company—</p></intro><level class="para1" eId="schedule-8-paragraph-5-a"><num>(a)</num><content><p>has permission under Part 4A of the Financial Services and Markets Act 2000 to carry on a regulated activity within the meaning of that Act, and</p></content></level><level class="para1" eId="schedule-8-paragraph-5-b"><num>(b)</num><content><p>is not subject to a requirement imposed under that Act to refrain from holding money for clients.</p></content></level></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Relaxation of conditions for obtaining moratorium etc</heading><paragraph eId="schedule-8-paragraph-6" class="schProv1"><num>6</num><subparagraph eId="schedule-8-paragraph-6-1"><num>(1)</num><intro><p>For the purposes of obtaining a moratorium under Article <ref href="#d25e5540">13B</ref> of the Insolvency (Northern Ireland) Order 1989 during the relevant period—</p></intro><level class="para1" eId="schedule-8-paragraph-6-1-a"><num>(a)</num><content><p>Article <ref href="#d25e5540">13B</ref> of that Order has effect as if paragraph <ref href="#d25e278">(1)(a)</ref> were omitted;</p></content></level><level class="para1" eId="schedule-8-paragraph-6-1-b"><num>(b)</num><content><p>Article <ref href="#d25e5705">13BC</ref><ref href="#d25e5751">(1)(e)</ref> 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”;</p></content></level><level class="para1" eId="schedule-8-paragraph-6-1-c"><num>(c)</num><content><p>Schedule ZA1 to that Order has effect as if paragraph 2(1)(b) and (2)(b) were omitted.</p></content></level></subparagraph><subparagraph eId="schedule-8-paragraph-6-2"><num>(2)</num><content><p>During the relevant period, only an overseas company may obtain a moratorium under Article <ref href="#d25e5592">13BA</ref> of the Insolvency (Northern Ireland) Order 1989.</p></content></subparagraph></paragraph><paragraph eId="schedule-8-paragraph-7" class="schProv1"><num>7</num><intro><p>In relation to an application for a moratorium made under Article <ref href="#d25e5592">13BA</ref> or <ref href="#d25e5647">13BB</ref> of the Insolvency (Northern Ireland) Order 1989 during the relevant period—</p></intro><level class="para1" eId="schedule-8-paragraph-7-a"><num>(a)</num><content><p>Article <ref href="#d25e5705">13BC</ref><ref href="#d25e5751">(1)(e)</ref> 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”;</p></content></level><level class="para1" eId="schedule-8-paragraph-7-b"><num>(b)</num><content><p>Schedule ZA1 to that Order has effect as if paragraph 2(1)(b) and (2)(b) were omitted.</p></content></level></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Relaxation of conditions for extending moratorium obtained during relevant period</heading><paragraph eId="schedule-8-paragraph-8" class="schProv1"><num>8</num><subparagraph eId="schedule-8-paragraph-8-1"><num>(1)</num><content><p>This paragraph applies in relation to a moratorium that comes into force during the relevant period.</p></content></subparagraph><subparagraph eId="schedule-8-paragraph-8-2"><num>(2)</num><content><p>For the purposes of extending the moratorium under Article <ref href="#d25e6113">13CA</ref> or <ref href="#d25e6192">13CB</ref> of the Insolvency (Northern Ireland) Order 1989, paragraph <ref href="#d25e6156">(1)(d)</ref> of that Article 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”.</p></content></subparagraph><subparagraph eId="schedule-8-paragraph-8-3"><num>(3)</num><content><p>In relation to an application under Article <ref href="#d25e6377">13CD</ref> of the Insolvency (Northern Ireland) Order 1989 that the moratorium be extended, paragraph <ref href="#d25e6434">(2)(d)</ref> of that Article 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”.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Monitoring of moratorium obtained during relevant period</heading><paragraph eId="schedule-8-paragraph-9" class="schProv1"><num>9</num><content><p><mod>In relation to a moratorium that comes into force during the relevant period, Article <ref href="#d25e8570">13EA</ref><ref href="#d25e8574">(1)</ref> of the Insolvency (Northern Ireland) Order 1989 has effect as if for the words from “it remains likely” to the end there were substituted <quotedText startQuote="“">—</quotedText><quotedStructure endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="order" ukl:Context="main" ukl:Format="double"><level class="para1"><num>(a)</num><content><p>it is likely that the moratorium will result in the rescue of the company as a going concern, or</p></content></level><level class="para1"><num>(b)</num><content><p>that, if one were to disregard any worsening of the financial position of the company for reasons relating to coronavirus, it is likely that the moratorium would result in the rescue of the company as a going concern.</p></content></level></quotedStructure></mod></p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Termination of moratorium obtained during relevant period</heading><paragraph eId="schedule-8-paragraph-10" class="schProv1"><num>10</num><content><p><mod>In relation to a moratorium that comes into force during the relevant period, Article <ref href="#d25e8629">13ED</ref>(1) of the Insolvency (Northern Ireland) Order 1989 has effect as if for sub-paragraph (a) there were substituted—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="order" ukl:Context="main" ukl:Format="double"><level class="para1"><num>(a)</num><intro><p>the monitor thinks—</p></intro><level class="para2"><num>(i)</num><content><p>that the moratorium is not likely to result in the rescue of the company as a going concern, and</p></content></level><level class="para2"><num>(ii)</num><content><p>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,</p></content></level></level></quotedStructure><inline name="appendText">.</inline></mod></p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>“Coronavirus”</heading><paragraph eId="schedule-8-paragraph-11" class="schProv1"><num>11</num><content><p>In the modifications made by this Part of this Schedule “coronavirus” means severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2).</p></content></paragraph></hcontainer></part><part eId="schedule-8-part-3"><num>PART 3</num><heading>Temporary rules</heading><hcontainer name="crossheading" class="schGroup7"><heading>Introductory</heading><paragraph eId="schedule-8-paragraph-12" class="schProv1"><num>12</num><content><p>Paragraphs <ref href="#schedule-8-paragraph-13">13</ref> to <ref href="#schedule-8-paragraph-54">54</ref> cease to have effect at the end of the relevant period, subject to paragraph <ref href="#schedule-8-paragraph-3">3</ref>.</p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Content of documents relating to the obtaining or extending of a moratorium: general</heading><paragraph eId="schedule-8-paragraph-13" class="schProv1"><num>13</num><intro><p>A notice or statement under Article <ref href="#d25e5705">13BC</ref><ref href="#d25e5709">(1)</ref>, <ref href="#d25e5890">13BE</ref><ref href="#d25e5900">(2)</ref>, <ref href="#d25e6113">13CA</ref><ref href="#d25e6117">(1)</ref>, <ref href="#d25e6192">13CB</ref><ref href="#d25e6196">(1)</ref> or <ref href="#d25e6377">13CD</ref><ref href="#d25e6387">(2)</ref> of the Insolvency (Northern Ireland) Order 1989 must state—</p></intro><level class="para1" eId="schedule-8-paragraph-13-a"><num>(a)</num><content><p>the provision under which it is given or made,</p></content></level><level class="para1" eId="schedule-8-paragraph-13-b"><num>(b)</num><content><p>the nature of the notice or statement,</p></content></level><level class="para1" eId="schedule-8-paragraph-13-c"><num>(c)</num><content><p>the date of the notice or statement, and</p></content></level><level class="para1" eId="schedule-8-paragraph-13-d"><num>(d)</num><content><p>the identification details for the company to which it relates.</p></content></level></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Authentication of documents relating to obtaining or extending moratorium: general</heading><paragraph eId="schedule-8-paragraph-14" class="schProv1"><num>14</num><subparagraph eId="schedule-8-paragraph-14-1"><num>(1)</num><content><p>A notice or statement under Article <ref href="#d25e5705">13BC</ref><ref href="#d25e5709">(1)</ref>, <ref href="#d25e6113">13CA</ref><ref href="#d25e6117">(1)</ref>, <ref href="#d25e6192">13CB</ref><ref href="#d25e6196">(1)</ref> or <ref href="#d25e6377">13CD</ref><ref href="#d25e6387">(2)</ref> of the Insolvency (Northern Ireland) Order 1989 must be authenticated by or on behalf of the person giving the notice or making the statement (see paragraph <ref href="#schedule-8-paragraph-49">49</ref>).</p></content></subparagraph><subparagraph eId="schedule-8-paragraph-14-2"><num>(2)</num><content><p>A notice under Article <ref href="#d25e5890">13BE</ref><ref href="#d25e5909">(2)(a)</ref> of the Insolvency (Northern Ireland) Order 1989 must be authenticated by the monitor (see paragraph <ref href="#schedule-8-paragraph-49">49</ref>).</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Notice that directors wish to obtain a moratorium</heading><paragraph eId="schedule-8-paragraph-15" class="schProv1"><num>15</num><content><p>A notice under Article <ref href="#d25e5705">13BC</ref><ref href="#d25e5715">(1)(a)</ref> of the Insolvency (Northern Ireland) Order 1989 must state the company’s address for service.</p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Proposed monitor’s statement and consent to act</heading><paragraph eId="schedule-8-paragraph-16" class="schProv1"><num>16</num><subparagraph eId="schedule-8-paragraph-16-1"><num>(1)</num><intro><p>A statement under Article <ref href="#d25e5705">13BC</ref><ref href="#d25e5721">(1)(b)</ref> of the Insolvency (Northern Ireland) Order 1989 must be headed “Proposed monitor’s statement and consent to act” and must contain the following—</p></intro><level class="para1" eId="schedule-8-paragraph-16-1-a"><num>(a)</num><content><p>a certificate that the proposed monitor is qualified to act as an insolvency practitioner in relation to the company,</p></content></level><level class="para1" eId="schedule-8-paragraph-16-1-b"><num>(b)</num><content><p>the proposed monitor’s IP number,</p></content></level><level class="para1" eId="schedule-8-paragraph-16-1-c"><num>(c)</num><content><p>the name of the relevant recognised professional body which is the source of the proposed monitor’s authorisation to act in relation to the company, and</p></content></level><level class="para1" eId="schedule-8-paragraph-16-1-d"><num>(d)</num><content><p>a statement that the proposed monitor consents to act as monitor in relation to the company.</p></content></level></subparagraph><subparagraph eId="schedule-8-paragraph-16-2"><num>(2)</num><content><p>In this paragraph “IP number” means the identifying number or reference issued to the insolvency practitioner by a professional body recognised under Article 350 of the Insolvency (Northern Ireland) Order 1989.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Timing of statements for obtaining moratorium</heading><paragraph eId="schedule-8-paragraph-17" class="schProv1"><num>17</num><content><p>Each statement under Article <ref href="#d25e5705">13BC</ref><ref href="#d25e449">(1)(b)</ref> to <ref href="#d25e479">(e)</ref> of the Insolvency (Northern Ireland) Order 1989 must be made within the period of 5 days ending with the day on which the documents under Article <ref href="#d25e5705">13BC</ref><ref href="#d25e443">(1)(a)</ref> to <ref href="#d25e479">(e)</ref> are filed with the High Court (or, if the documents are filed on different days, the last of those days).</p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Notice by monitor where moratorium comes into force</heading><paragraph eId="schedule-8-paragraph-18" class="schProv1"><num>18</num><intro><p>A notice under Article <ref href="#d25e5890">13BE</ref><ref href="#d25e5900">(2)</ref> of the Insolvency (Northern Ireland) Order 1989 must—</p></intro><level class="para1" eId="schedule-8-paragraph-18-a"><num>(a)</num><content><p>state that it is given by the monitor acting in that capacity, and</p></content></level><level class="para1" eId="schedule-8-paragraph-18-b"><num>(b)</num><content><p>state the name and contact details of the monitor.</p></content></level></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Notice that directors wish to extend a moratorium</heading><paragraph eId="schedule-8-paragraph-19" class="schProv1"><num>19</num><content><p>A notice under Article <ref href="#d25e6113">13CA</ref><ref href="#d25e6123">(1)(a)</ref> or <ref href="#d25e6192">13CB</ref><ref href="#d25e6202">(1)(a)</ref> of the Insolvency (Northern Ireland) Order 1989 must state the company’s address for service.</p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Extension under Article <ref href="#d25e6113">13CA</ref> or <ref href="#d25e6192">13CB</ref> of the Insolvency (Northern Ireland) Order 1989: notices and statements</heading><paragraph eId="schedule-8-paragraph-20" class="schProv1"><num>20</num><content><p>A statement by the monitor under Article <ref href="#d25e6113">13CA</ref><ref href="#d25e6156">(1)(d)</ref> or <ref href="#d25e6192">13CB</ref><ref href="#d25e6235">(1)(d)</ref> of the Insolvency (Northern Ireland) Order 1989 must contain contact details of the monitor.</p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Timing of statements for extension under Article <ref href="#d25e6113">13CA</ref> or <ref href="#d25e6192">13CB</ref></heading><paragraph eId="schedule-8-paragraph-21" class="schProv1"><num>21</num><content><p>Each statement under Article <ref href="#d25e6113">13CA</ref><ref href="#d25e857">(1)(b)</ref> to <ref href="#d25e884">(d)</ref> or <ref href="#d25e6192">13CB</ref><ref href="#d25e936">(1)(b)</ref> to <ref href="#d25e969">(e)</ref> of the Insolvency (Northern Ireland) Order 1989 must be made within the period of 3 days ending with the day on which the documents under Article <ref href="#d25e6113">13CA</ref><ref href="#d25e851">(1)(a)</ref> to <ref href="#d25e884">(d)</ref> or <ref href="#d25e6192">13CB</ref><ref href="#d25e930">(1)(a)</ref> to <ref href="#d25e969">(e)</ref> are filed with the High Court (or, if the documents are filed on different days, the last of those days).</p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Obtaining creditor consent at meeting</heading><paragraph eId="schedule-8-paragraph-22" class="schProv1"><num>22</num><content><p>If a meeting under Article 13CC(2) of the Insolvency (Northern Ireland) Order 1989 is held during the relevant period (within the meaning given by paragraph 1), paragraph 3 of Schedule 14 applies to the meeting as if it were a meeting within sub-paragraph (2) of that paragraph (even if the meeting is not held within the relevant period within the meaning of that Schedule).</p></content></paragraph><paragraph eId="schedule-8-paragraph-23" class="schProv1"><num>23</num><subparagraph eId="schedule-8-paragraph-23-1"><num>(1)</num><content><p>In their application for the purposes of a decision by pre-moratorium creditors to consent to a revised end date for a moratorium under Article 13CC of the Insolvency (Northern Ireland) Order 1989, the Insolvency Rules have effect with the following modifications.</p></content></subparagraph><subparagraph eId="schedule-8-paragraph-23-2"><num>(2)</num><content><p>References to creditors are to be read as references to the pre-moratorium creditors.</p></content></subparagraph><subparagraph eId="schedule-8-paragraph-23-3"><num>(3)</num><intro><p>The following rules have effect with the further modifications set out in paragraphs <ref href="#schedule-8-paragraph-24">24</ref> to 30—</p></intro><level class="para1" eId="schedule-8-paragraph-23-3-a"><num>(a)</num><content><p>Rule 4.061;</p></content></level><level class="para1" eId="schedule-8-paragraph-23-3-b"><num>(b)</num><content><p>Rule 4.062;</p></content></level><level class="para1" eId="schedule-8-paragraph-23-3-c"><num>(c)</num><content><p>Rule 4.065;</p></content></level><level class="para1" eId="schedule-8-paragraph-23-3-d"><num>(d)</num><content><p>Rule 4.068;</p></content></level><level class="para1" eId="schedule-8-paragraph-23-3-e"><num>(e)</num><content><p>Rule 4.070;</p></content></level><level class="para1" eId="schedule-8-paragraph-23-3-f"><num>(f)</num><content><p>Rule 4.073;</p></content></level><level class="para1" eId="schedule-8-paragraph-23-3-g"><num>(g)</num><content><p>Rule 4.077.</p></content></level></subparagraph></paragraph><paragraph eId="schedule-8-paragraph-24" class="schProv1"><num>24</num><content><p><mod>Rule 4.061 has effect as if for paragraphs (1) to (6) there were substituted—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="rule" ukl:Context="main" ukl:Format="double"><paragraph><num>(1)</num><content><p>For the purposes of Rules 4.061 to 4.077 the directors summoning a meeting of pre-moratorium creditors under Article 13CC of the Order are referred to (collectively) as “the convener”.</p></content></paragraph><paragraph><num>(2)</num><content><p>When a venue for such a meeting has been fixed, notice of it must be given by the convener to every pre-moratorium creditor who is known to the convener.</p></content></paragraph><paragraph><num>(3)</num><content><p>Notice of the meeting must be given at least 5 days before the date fixed for it, and must specify the purpose of the meeting.</p></content></paragraph><paragraph><num>(4)</num><content><p>The notice shall state that proofs and (if applicable) proxies shall be lodged at a specified place not later than 12.00 hours on the business day before the date fixed for the meeting in order for pre-moratorium creditors to be entitled to vote at the meeting.</p></content></paragraph></quotedStructure></mod></p></content></paragraph><paragraph eId="schedule-8-paragraph-25" class="schProv1"><num>25</num><content><p><mod>Rule 4.062 has effect as if for paragraphs (2) to (5) there were substituted—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="rule" ukl:Context="main" ukl:Format="double"><paragraph><num>(2)</num><content><p>The convener must nominate a person to act as chairman.</p></content></paragraph></quotedStructure></mod></p></content></paragraph><paragraph eId="schedule-8-paragraph-26" class="schProv1"><num>26</num><content><p>Rule 4.065 has effect as if, in paragraph (2), for “21 days” there were substituted “5 days”.</p></content></paragraph><paragraph eId="schedule-8-paragraph-27" class="schProv1"><num>27</num><content><p><mod>Rule 4.068 has effect as if for it there were substituted—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="rule" ukl:Context="main" ukl:Format="double"><rule><num>4.068.</num><content><p>The expenses of summoning and holding a meeting of pre-moratorium creditors at the instance of the directors of the company are to be paid by the company.</p></content></rule></quotedStructure></mod></p></content></paragraph><paragraph eId="schedule-8-paragraph-28" class="schProv1"><num>28</num><content><p><mod>Rule 4.070 has effect as if for it (and its heading) there were substituted—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="rule" ukl:Context="main" ukl:Format="double"><rule><heading>Requisite majorities</heading><num>4.070.</num><paragraph><num>(1)</num><intro><p>A decision to consent to a revised end date for a moratorium under Article 13CC of the Order is made if, of those voting—</p></intro><level class="para1"><num>(a)</num><content><p>a majority (in value) of the pre-moratorium creditors who are secured creditors vote in favour of the proposed decision, and</p></content></level><level class="para1"><num>(b)</num><content><p>a majority (in value) of the pre-moratorium creditors who are unsecured creditors vote in favour of the proposed decision.</p></content></level></paragraph><paragraph><num>(2)</num><intro><p>But a decision to consent to a revised end date for a moratorium under Article 13CC of the Order is not made if, of those voting, either—</p></intro><level class="para1"><num>(a)</num><content><p>a majority of the pre-moratorium creditors who are unconnected secured creditors vote against the proposed end date, or</p></content></level><level class="para1"><num>(b)</num><content><p>a majority of the pre-moratorium creditors who are unconnected unsecured creditors vote against the proposed end date.</p></content></level></paragraph><paragraph><num>(3)</num><intro><p>For the purposes of paragraph (2)—</p></intro><level class="para1"><num>(a)</num><content><p>a creditor is unconnected unless the convener or chair decides that the creditor is connected, and</p></content></level><level class="para1"><num>(b)</num><content><p>the total value of the unconnected creditors is the total value of those unconnected creditors whose claims have been admitted for voting.</p></content></level></paragraph></rule></quotedStructure></mod></p></content></paragraph><paragraph eId="schedule-8-paragraph-29" class="schProv1"><num>29</num><intro><p>Rule 4.073 has effect as if—</p></intro><level class="para1" eId="schedule-8-paragraph-29-a"><num>(a)</num><content><p><mod>after paragraph (3) there were inserted—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="rule" ukl:Context="main" ukl:Format="double"><paragraph><num>(3A)</num><content><p>Votes are calculated according to the amount of each pre-moratorium creditor’s claim at the date of the meeting.</p></content></paragraph></quotedStructure><inline name="appendText">;</inline></mod></p></content></level><level class="para1" eId="schedule-8-paragraph-29-b"><num>(b)</num><content><p><mod>for paragraph (4) there were substituted—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="rule" ukl:Context="main" ukl:Format="double"><paragraph><num>(4)</num><content><p>A debt of an unliquidated or unascertained amount is to be valued at £1 for the purposes of voting unless the convener or the chairman decides to put a higher value on it.</p></content></paragraph></quotedStructure><inline name="appendText">;</inline></mod></p></content></level><level class="para1" eId="schedule-8-paragraph-29-c"><num>(c)</num><content><p><mod>for paragraph (5) there were substituted—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="rule" ukl:Context="main" ukl:Format="double"><paragraph><num>(5)</num><content><p>If a debt is partly or wholly secured the value of the debt for voting purposes is its full value without deduction of the value of the security.</p></content></paragraph></quotedStructure><inline name="appendText">;</inline></mod></p></content></level><level class="para1" eId="schedule-8-paragraph-29-d"><num>(d)</num><content><p><mod>for paragraph (6) there were substituted—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="rule" ukl:Context="main" ukl:Format="double"><paragraph><num>(6)</num><content><p>A pre-moratorium creditor under a hire-purchase agreement is entitled to vote in respect of the amount of the debt due and payable by the company at the date of the meeting.</p></content></paragraph><paragraph><num>(6A)</num><content><p>In calculating the amount of any debt for the purpose of paragraph (6), no account is to be taken of any amount attributable to the exercise of any right under the relevant agreement so far as the right has become exercisable solely by virtue of a moratorium for the company coming into force.</p></content></paragraph></quotedStructure></mod></p></content></level></paragraph><paragraph eId="schedule-8-paragraph-30" class="schProv1"><num>30</num><intro><p>Rule 4.077 has effect as if—</p></intro><level class="para1" eId="schedule-8-paragraph-30-a"><num>(a)</num><content><p>in paragraph (1) for “liquidation” there were substituted “moratorium”;</p></content></level><level class="para1" eId="schedule-8-paragraph-30-b"><num>(b)</num><content><p>paragraph (4) were omitted.</p></content></level></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Content of application to the High Court for extension of moratorium</heading><paragraph eId="schedule-8-paragraph-31" class="schProv1"><num>31</num><subparagraph eId="schedule-8-paragraph-31-1"><num>(1)</num><intro><p>An application by the directors of a company for the extension of a moratorium under Article <ref href="#d25e6377">13CD</ref> of the Insolvency (Northern Ireland) Order 1989 must state—</p></intro><level class="para1" eId="schedule-8-paragraph-31-1-a"><num>(a)</num><content><p>that it is made under that Article,</p></content></level><level class="para1" eId="schedule-8-paragraph-31-1-b"><num>(b)</num><content><p>the length of the extension sought,</p></content></level><level class="para1" eId="schedule-8-paragraph-31-1-c"><num>(c)</num><content><p>identification details for the company to which the application relates, and</p></content></level><level class="para1" eId="schedule-8-paragraph-31-1-d"><num>(d)</num><content><p>the company’s address for service.</p></content></level></subparagraph><subparagraph eId="schedule-8-paragraph-31-2"><num>(2)</num><content><p>The application must be authenticated by or on behalf of the directors (see paragraph <ref href="#schedule-8-paragraph-49">49</ref>).</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Timing of statements accompanying application to High Court for extension of moratorium</heading><paragraph eId="schedule-8-paragraph-32" class="schProv1"><num>32</num><content><p>A statement under Article <ref href="#d25e6377">13CD</ref><ref href="#d25e6387">(2)</ref> must be made within the period of 3 days ending with the day on which the application under that Article is made.</p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Notices about change in end of moratorium</heading><paragraph eId="schedule-8-paragraph-33" class="schProv1"><num>33</num><subparagraph eId="schedule-8-paragraph-33-1"><num>(1)</num><content><p>A notice under Article <ref href="#d25e6751">13CH</ref><ref href="#d25e6755">(1)</ref> of the Insolvency (Northern Ireland) Order 1989 must be given within the period of 5 days beginning with the day on which the duty to give the notice arises.</p></content></subparagraph><subparagraph eId="schedule-8-paragraph-33-2"><num>(2)</num><intro><p>The notice must state—</p></intro><level class="para1" eId="schedule-8-paragraph-33-2-a"><num>(a)</num><content><p>the name of the company to which it relates, and</p></content></level><level class="para1" eId="schedule-8-paragraph-33-2-b"><num>(b)</num><content><p>the provision by virtue of which the moratorium was extended or came to an end.</p></content></level></subparagraph></paragraph><paragraph eId="schedule-8-paragraph-34" class="schProv1"><num>34</num><subparagraph eId="schedule-8-paragraph-34-1"><num>(1)</num><content><p>A notice under Article <ref href="#d25e6751">13CH</ref><ref href="#d25e6897">(2)</ref> or <ref href="#d25e6914">(3)</ref> of the Insolvency (Northern Ireland) Order 1989 must be given within the period of 5 days beginning with the day on which the duty to give the notice arises.</p></content></subparagraph><subparagraph eId="schedule-8-paragraph-34-2"><num>(2)</num><intro><p>The notice must state—</p></intro><level class="para1" eId="schedule-8-paragraph-34-2-a"><num>(a)</num><content><p>the provision under which it is given,</p></content></level><level class="para1" eId="schedule-8-paragraph-34-2-b"><num>(b)</num><content><p>the nature of the notice,</p></content></level><level class="para1" eId="schedule-8-paragraph-34-2-c"><num>(c)</num><content><p>the date of the notice,</p></content></level><level class="para1" eId="schedule-8-paragraph-34-2-d"><num>(d)</num><content><p>that it is given by the monitor acting in that capacity,</p></content></level><level class="para1" eId="schedule-8-paragraph-34-2-e"><num>(e)</num><content><p>the name and contact details of the monitor, and</p></content></level><level class="para1" eId="schedule-8-paragraph-34-2-f"><num>(f)</num><content><p>the identification details for the company to which it relates.</p></content></level></subparagraph><subparagraph eId="schedule-8-paragraph-34-3"><num>(3)</num><content><p>A notice under Article <ref href="#d25e6751">13CH</ref><ref href="#d25e6897">(2)</ref> or <ref href="#d25e6914">(3)</ref> of the Insolvency (Northern Ireland) Order 1989 that is given to the registrar must be authenticated by or on behalf of the monitor (see paragraph <ref href="#schedule-8-paragraph-49">49</ref>).</p></content></subparagraph></paragraph><paragraph eId="schedule-8-paragraph-35" class="schProv1"><num>35</num><intro><p>Where a moratorium comes to an end under Article <ref href="#d25e6687">13CG</ref> of the Insolvency (Northern Ireland) Order 1989 because the company has entered into a relevant insolvency procedure within the meaning of that Article, the notices under Article <ref href="#d25e6751">13CH</ref><ref href="#d25e6755">(1)</ref> and <ref href="#d25e6897">(2)</ref> must state—</p></intro><level class="para1" eId="schedule-8-paragraph-35-a"><num>(a)</num><content><p>the date on which the company entered into the relevant insolvency procedure, and</p></content></level><level class="para1" eId="schedule-8-paragraph-35-b"><num>(b)</num><content><p>the name and contact details of the supervisor of the voluntary arrangement, the administrator or the liquidator.</p></content></level></paragraph><paragraph eId="schedule-8-paragraph-36" class="schProv1"><num>36</num><subparagraph eId="schedule-8-paragraph-36-1"><num>(1)</num><content><p>A notice under Article <ref href="#d25e6751">13CH</ref><ref href="#d25e6920">(4)</ref> of the Insolvency (Northern Ireland) Order 1989 must be given within the period of 3 business days beginning with the day on which the notice under Article <ref href="#d25e8629">13ED</ref>(1) of that Order is filed with the High Court.</p></content></subparagraph><subparagraph eId="schedule-8-paragraph-36-2"><num>(2)</num><content><p>The notice under Article <ref href="#d25e6751">13CH</ref><ref href="#d25e6920">(4)</ref> of that Order must be accompanied by the notice that the monitor has filed with the High Court under Article <ref href="#d25e8629">13ED</ref>(1) of that Order.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Notification by directors of insolvency proceedings etc</heading><paragraph eId="schedule-8-paragraph-37" class="schProv1"><num>37</num><subparagraph eId="schedule-8-paragraph-37-1"><num>(1)</num><content><p>A notice under Article <ref href="#d25e7730">13DF</ref><ref href="#d25e7734">(1)</ref> of the Insolvency (Northern Ireland) Order 1989 must be given before the period of 3 days ending with the day on which the step mentioned there is taken.</p></content></subparagraph><subparagraph eId="schedule-8-paragraph-37-2"><num>(2)</num><content><p>A notice under Article <ref href="#d25e7730">13DF</ref><ref href="#d25e7758">(2)</ref> of the Insolvency (Northern Ireland) Order 1989 must be given within the period of 3 days beginning with the day on which the duty to give the notice arises.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Notice of termination of moratorium</heading><paragraph eId="schedule-8-paragraph-38" class="schProv1"><num>38</num><subparagraph eId="schedule-8-paragraph-38-1"><num>(1)</num><content><p>A notice under Article <ref href="#d25e8629">13ED</ref>(1) of the Insolvency (Northern Ireland) Order 1989 must be filed with the High Court as soon as practicable after the duty in that paragraph arises.</p></content></subparagraph><subparagraph eId="schedule-8-paragraph-38-2"><num>(2)</num><intro><p>The notice must state—</p></intro><level class="para1" eId="schedule-8-paragraph-38-2-a"><num>(a)</num><content><p>the provision under which it is given,</p></content></level><level class="para1" eId="schedule-8-paragraph-38-2-b"><num>(b)</num><content><p>the nature of the notice,</p></content></level><level class="para1" eId="schedule-8-paragraph-38-2-c"><num>(c)</num><content><p>the date of the notice,</p></content></level><level class="para1" eId="schedule-8-paragraph-38-2-d"><num>(d)</num><content><p>the name and contact details of the monitor,</p></content></level><level class="para1" eId="schedule-8-paragraph-38-2-e"><num>(e)</num><content><p>the identification details for the company to which it relates,</p></content></level><level class="para1" eId="schedule-8-paragraph-38-2-f"><num>(f)</num><content><p>the grounds on which the moratorium is being terminated,</p></content></level><level class="para1" eId="schedule-8-paragraph-38-2-g"><num>(g)</num><content><p>the monitor’s reasons for concluding that those grounds are made out, and</p></content></level><level class="para1" eId="schedule-8-paragraph-38-2-h"><num>(h)</num><content><p>the date on which the monitor concluded that those grounds were made out.</p></content></level></subparagraph><subparagraph eId="schedule-8-paragraph-38-3"><num>(3)</num><content><p>The notice must be authenticated by or on behalf of the monitor (see paragraph <ref href="#schedule-8-paragraph-49">49</ref>).</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Termination of moratorium under Article <ref href="#d25e8629">13ED</ref>(1)(d) of the Insolvency (Northern Ireland) Order 1989</heading><paragraph eId="schedule-8-paragraph-39" class="schProv1"><num>39</num><intro><p>For the purposes of deciding whether to bring a moratorium to an end under Article <ref href="#d25e8629">13ED</ref>(1)(d) of the Insolvency (Northern Ireland) Order 1989 the monitor must disregard—</p></intro><level class="para1" eId="schedule-8-paragraph-39-a"><num>(a)</num><content><p>any debts that the monitor has reasonable grounds for thinking are likely to be paid within 5 days of the decision, and</p></content></level><level class="para1" eId="schedule-8-paragraph-39-b"><num>(b)</num><content><p>any debts in respect of which the creditor has agreed to defer payment until a time that is later than the decision.</p></content></level></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Replacement of monitor or additional monitor: statement and consent to act</heading><paragraph eId="schedule-8-paragraph-40" class="schProv1"><num>40</num><subparagraph eId="schedule-8-paragraph-40-1"><num>(1)</num><intro><p>A statement under Article <ref href="#d25e8729">13EE</ref><ref href="#d25e8757">(4)</ref> of the Insolvency (Northern Ireland) Order 1989 must be headed “Proposed monitor’s statement and consent to act” and must contain the following—</p></intro><level class="para1" eId="schedule-8-paragraph-40-1-a"><num>(a)</num><content><p>a certificate that the proposed monitor is qualified to act as an insolvency practitioner in relation to the company,</p></content></level><level class="para1" eId="schedule-8-paragraph-40-1-b"><num>(b)</num><content><p>the proposed monitor’s IP number,</p></content></level><level class="para1" eId="schedule-8-paragraph-40-1-c"><num>(c)</num><content><p>the name of the relevant recognised professional body which is the source of the proposed monitor’s authorisation to act in relation to the company, and</p></content></level><level class="para1" eId="schedule-8-paragraph-40-1-d"><num>(d)</num><content><p>a statement that the proposed monitor consents to act as monitor in relation to the company.</p></content></level></subparagraph><subparagraph eId="schedule-8-paragraph-40-2"><num>(2)</num><content><p>The statement must be made within the period of 5 days ending with the day on which it is filed with the High Court.</p></content></subparagraph><subparagraph eId="schedule-8-paragraph-40-3"><num>(3)</num><content><p>In this paragraph “IP number” means the identifying number or reference issued to the insolvency practitioner by a professional body recognised under Article 350 of the Insolvency (Northern Ireland) Order 1989.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Replacement of monitor or additional monitor: notification</heading><paragraph eId="schedule-8-paragraph-41" class="schProv1"><num>41</num><subparagraph eId="schedule-8-paragraph-41-1"><num>(1)</num><intro><p>A notice under Article 13EE(8) of the Insolvency (Northern Ireland) Order 1989 must state—</p></intro><level class="para1" eId="schedule-8-paragraph-41-1-a"><num>(a)</num><content><p>the provision under which it is given,</p></content></level><level class="para1" eId="schedule-8-paragraph-41-1-b"><num>(b)</num><content><p>the nature of the notice,</p></content></level><level class="para1" eId="schedule-8-paragraph-41-1-c"><num>(c)</num><content><p>the date of the notice,</p></content></level><level class="para1" eId="schedule-8-paragraph-41-1-d"><num>(d)</num><content><p>the identification details for the company to which it relates,</p></content></level><level class="para1" eId="schedule-8-paragraph-41-1-e"><num>(e)</num><content><p>that it is given by the monitor acting in that capacity, and</p></content></level><level class="para1" eId="schedule-8-paragraph-41-1-f"><num>(f)</num><content><p>the name and contact details of the monitor.</p></content></level></subparagraph><subparagraph eId="schedule-8-paragraph-41-2"><num>(2)</num><content><p>The notice must be authenticated by the monitor (see paragraph <ref href="#schedule-8-paragraph-49">49</ref>).</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Challenge to monitor’s remuneration</heading><paragraph eId="schedule-8-paragraph-42" class="schProv1"><num>42</num><subparagraph eId="schedule-8-paragraph-42-1"><num>(1)</num><content><p>An administrator or liquidator of a company may apply to the High Court on the ground that remuneration charged by the monitor in relation to a prior moratorium for the company under Part 1A of the Insolvency (Northern Ireland) Order 1989 was excessive.</p></content></subparagraph><subparagraph eId="schedule-8-paragraph-42-2"><num>(2)</num><content><p>An application under this paragraph may not be made after the end of the period of 2 years beginning with the day after the moratorium ends.</p></content></subparagraph><subparagraph eId="schedule-8-paragraph-42-3"><num>(3)</num><intro><p>On an application under this paragraph the Court may—</p></intro><level class="para1" eId="schedule-8-paragraph-42-3-a"><num>(a)</num><content><p>dismiss the application,</p></content></level><level class="para1" eId="schedule-8-paragraph-42-3-b"><num>(b)</num><content><p>order the monitor to repay some or all of the remuneration, or</p></content></level><level class="para1" eId="schedule-8-paragraph-42-3-c"><num>(c)</num><content><p>make such other order as it thinks fit.</p></content></level></subparagraph><subparagraph eId="schedule-8-paragraph-42-4"><num>(4)</num><content><p>The costs of an application under this paragraph are, unless the Court orders otherwise, to be paid as an expense of the administration or liquidation.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Challenge to directors’ actions: meeting</heading><paragraph eId="schedule-8-paragraph-43" class="schProv1"><num>43</num><intro><p>Where the High Court makes an order by virtue of Article 13FB(4)(c) of the Insolvency (Northern Ireland) Order 1989 requiring the summoning of a meeting of a company’s creditors, the following provisions of the Insolvency Rules apply for the purposes of that meeting to the extent set out in the Court’s order and subject to any modifications set out in the Court’s order—</p></intro><level class="para1" eId="schedule-8-paragraph-43-a"><num>(a)</num><content><p>Rules 4.061 to 4.077 (meetings);</p></content></level><level class="para1" eId="schedule-8-paragraph-43-b"><num>(b)</num><content><p>Part 8 (proxies);</p></content></level><level class="para1" eId="schedule-8-paragraph-43-c"><num>(c)</num><content><p>Rule 12.05 (quorum).</p></content></level></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Priority of moratorium debts etc in subsequent winding up</heading><paragraph eId="schedule-8-paragraph-44" class="schProv1"><num>44</num><subparagraph eId="schedule-8-paragraph-44-1"><num>(1)</num><intro><p>Where Article 148A of the Insolvency (Northern Ireland) Order 1989 applies, the moratorium debts and pre-moratorium debts mentioned in paragraph (2)(b) of that Article are payable in the following order of priority—</p></intro><level class="para1" eId="schedule-8-paragraph-44-1-a"><num>(a)</num><content><p>amounts payable in respect of goods or services supplied during the moratorium under a contract where, but for Article 197B(3) or (4) of that Order, the supplier would not have had to make that supply;</p></content></level><level class="para1" eId="schedule-8-paragraph-44-1-b"><num>(b)</num><content><p>wages or salary arising under a contract of employment;</p></content></level><level class="para1" eId="schedule-8-paragraph-44-1-c"><num>(c)</num><content><p>other debts or other liabilities apart from the monitor’s remuneration or expenses;</p></content></level><level class="para1" eId="schedule-8-paragraph-44-1-d"><num>(d)</num><content><p>the monitor’s remuneration or expenses.</p></content></level></subparagraph><subparagraph eId="schedule-8-paragraph-44-2"><num>(2)</num><content><p>In this paragraph “wages or salary” has the same meaning as in Article <ref href="#d25e7009">13D</ref> of the Insolvency (Northern Ireland) Order 1989.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Priority of moratorium debts etc in subsequent administration</heading><paragraph eId="schedule-8-paragraph-45" class="schProv1"><num>45</num><subparagraph eId="schedule-8-paragraph-45-1"><num>(1)</num><intro><p>Where paragraph 65A(1) of Schedule B1 to the Insolvency (Northern Ireland) Order 1989 applies, the moratorium debts and pre-moratorium debts mentioned in paragraph 65A(2) of that Schedule are payable in the following order of priority—</p></intro><level class="para1" eId="schedule-8-paragraph-45-1-a"><num>(a)</num><content><p>amounts payable in respect of goods or services supplied during the moratorium under a contract where, but for Article 197B(3) or (4) of that Order, the supplier would not have had to make that supply;</p></content></level><level class="para1" eId="schedule-8-paragraph-45-1-b"><num>(b)</num><content><p>wages or salary arising under a contract of employment;</p></content></level><level class="para1" eId="schedule-8-paragraph-45-1-c"><num>(c)</num><content><p>other debts or other liabilities apart from the monitor’s remuneration or expenses;</p></content></level><level class="para1" eId="schedule-8-paragraph-45-1-d"><num>(d)</num><content><p>the monitor’s remuneration or expenses.</p></content></level></subparagraph><subparagraph eId="schedule-8-paragraph-45-2"><num>(2)</num><content><p>In this paragraph “wages or salary” has the same meaning as in Article <ref href="#d25e7009">13D</ref> of the Insolvency (Northern Ireland) Order 1989.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Prescribed format of documents</heading><paragraph eId="schedule-8-paragraph-46" class="schProv1"><num>46</num><subparagraph eId="schedule-8-paragraph-46-1"><num>(1)</num><content><p>Rule 12.04 of the Insolvency Rules applies to applications and statements referred to in Part 1A of the Insolvency (Northern Ireland) Order 1989 as it applies to notices under that Order.</p></content></subparagraph><subparagraph eId="schedule-8-paragraph-46-2"><num>(2)</num><content><p>The requirement in Rule 12.04 that a notice, application or statement required or authorised by or under the Order or the Insolvency Rules must be in writing is satisfied if the notice, application or statement is in electronic form.</p></content></subparagraph><subparagraph eId="schedule-8-paragraph-46-3"><num>(3)</num><content><p>But sub-paragraph (2) does not apply in relation to the filing of a notice, application or statement with the High Court.</p></content></subparagraph><subparagraph eId="schedule-8-paragraph-46-4"><num>(4)</num><intro><p>A document in electronic form must be capable of being—</p></intro><level class="para1" eId="schedule-8-paragraph-46-4-a"><num>(a)</num><content><p>read by the recipient in electronic form, and</p></content></level><level class="para1" eId="schedule-8-paragraph-46-4-b"><num>(b)</num><content><p>reproduced by the recipient in hard-copy form.</p></content></level></subparagraph></paragraph><paragraph eId="schedule-8-paragraph-47" class="schProv1"><num>47</num><subparagraph eId="schedule-8-paragraph-47-1"><num>(1)</num><content><p>This paragraph applies where a provision of this Part of this Schedule sets out requirements as to the contents of a document.</p></content></subparagraph><subparagraph eId="schedule-8-paragraph-47-2"><num>(2)</num><content><p>Any title required by the provision must appear at the beginning of the document.</p></content></subparagraph><subparagraph eId="schedule-8-paragraph-47-3"><num>(3)</num><content><p>Any other contents required by the provision (or provisions where more than one applies to a particular document) must be provided in the order listed in the provision (or provisions) or in another order which the maker of the document considers would be convenient for the intended recipient.</p></content></subparagraph></paragraph><paragraph eId="schedule-8-paragraph-48" class="schProv1"><num>48</num><intro><p>Where a provision of this Part of this Schedule sets out the required contents of a document, the document may depart from the required contents if—</p></intro><level class="para1" eId="schedule-8-paragraph-48-a"><num>(a)</num><content><p>the circumstances require such a departure (including where the requirement is not applicable in the particular case), or</p></content></level><level class="para1" eId="schedule-8-paragraph-48-b"><num>(b)</num><content><p>the departure (whether or not intentional) is immaterial.</p></content></level></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Authentication of applications, notices and statements</heading><paragraph eId="schedule-8-paragraph-49" class="schProv1"><num>49</num><subparagraph eId="schedule-8-paragraph-49-1"><num>(1)</num><content><p>This paragraph sets out how an application, notice or statement is to be authenticated for the purposes of this Part of this Schedule.</p></content></subparagraph><subparagraph eId="schedule-8-paragraph-49-2"><num>(2)</num><intro><p>An application, notice or statement in electronic form is authenticated—</p></intro><level class="para1" eId="schedule-8-paragraph-49-2-a"><num>(a)</num><content><p>if the identity of the sender is confirmed in a manner specified by the recipient, or</p></content></level><level class="para1" eId="schedule-8-paragraph-49-2-b"><num>(b)</num><content><p>where the recipient has not so specified, if the communication contains or is accompanied by a statement of the identity of the sender and the recipient has no reason to doubt the truth of that statement.</p></content></level></subparagraph><subparagraph eId="schedule-8-paragraph-49-3"><num>(3)</num><content><p>An application, notice or statement in hard-copy form is authenticated if it is signed.</p></content></subparagraph><subparagraph eId="schedule-8-paragraph-49-4"><num>(4)</num><intro><p>If an application, notice or statement is authenticated by the signature of an individual on behalf of—</p></intro><level class="para1" eId="schedule-8-paragraph-49-4-a"><num>(a)</num><content><p>a body of persons, the document must also state the position of that individual in relation to the body;</p></content></level><level class="para1" eId="schedule-8-paragraph-49-4-b"><num>(b)</num><content><p>a body corporate of which the individual is the sole member, the document must also state that fact.</p></content></level></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Modifications to the Insolvency Rules</heading><paragraph eId="schedule-8-paragraph-50" class="schProv1"><num>50</num><subparagraph eId="schedule-8-paragraph-50-1"><num>(1)</num><intro><p>For the purposes of proceedings under Part 1A of the Insolvency (Northern Ireland) Order 1989 and proceedings under this Part of this Schedule the Insolvency Rules have effect with—</p></intro><level class="para1" eId="schedule-8-paragraph-50-1-a"><num>(a)</num><content><p>the modifications set out in sub-paragraphs <ref href="#schedule-8-paragraph-50-3">(3)</ref> to <ref href="#schedule-8-paragraph-50-13">(13)</ref>, and</p></content></level><level class="para1" eId="schedule-8-paragraph-50-1-b"><num>(b)</num><content><p>any other necessary modifications.</p></content></level></subparagraph><subparagraph eId="schedule-8-paragraph-50-2"><num>(2)</num><intro><p>Sub-paragraph (1)(b) is subject to—</p></intro><level class="para1" eId="schedule-8-paragraph-50-2-a"><num>(a)</num><content><p>paragraphs 23 to 30 and 46 of this Schedule;</p></content></level><level class="para1" eId="schedule-8-paragraph-50-2-b"><num>(b)</num><content><p>any modifications set out in an order under paragraph 43 of this Schedule.</p></content></level></subparagraph><subparagraph eId="schedule-8-paragraph-50-3"><num>(3)</num><content><p>Rule 0.2 has effect as if, in the definition of “insolvency proceedings”, after “the Order” there were inserted “, Part 3 of Schedule 8 to the Corporate Insolvency and Governance Act 2020”.</p></content></subparagraph><subparagraph eId="schedule-8-paragraph-50-4"><num>(4)</num><content><p>Rule 7.01 has effect as if for “Parts II to VII of the Order” there were substituted “Part 1A of the Order or Part 3 of Schedule 8 to the Corporate Insolvency and Governance Act 2020”.</p></content></subparagraph><subparagraph eId="schedule-8-paragraph-50-5"><num>(5)</num><content><p>Rule 7.07(1)(a) has effect as if after “the Order” there were inserted “or Part 3 of Schedule 8 to the Corporate Insolvency and Governance Act 2020”.</p></content></subparagraph><subparagraph eId="schedule-8-paragraph-50-6"><num>(6)</num><content><p>Rule 7.08 has effect in relation to a regulated company (within the meaning of Article 13H of the Insolvency (Northern Ireland) Order 1989) as if it also required the application to be served on the appropriate regulator (within the meaning of that Article).</p></content></subparagraph><subparagraph eId="schedule-8-paragraph-50-7"><num>(7)</num><content><p><mod>Rule 7.12(1)(b) has effect as if after sub-paragraph (v) there were inserted—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="rule" ukl:Context="main" ukl:Format="double"><level class="para1"><num>(vi)</num><content><p>a monitor in relation to a moratorium.</p></content></level></quotedStructure></mod></p></content></subparagraph><subparagraph eId="schedule-8-paragraph-50-8"><num>(8)</num><intro><p>Rule 7.13B has effect as if—</p></intro><level class="para1" eId="schedule-8-paragraph-50-8-a"><num>(a)</num><content><p>the references to an office-holder included a monitor in relation to a moratorium, and</p></content></level><level class="para1" eId="schedule-8-paragraph-50-8-b"><num>(b)</num><content><p><mod>after paragraph (2)(d) there were inserted “, or<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="rule" ukl:Context="main" ukl:Format="double"><level class="para1"><num>(e)</num><content><p>monitor in relation to a moratorium.</p></content></level></quotedStructure></mod></p></content></level></subparagraph><subparagraph eId="schedule-8-paragraph-50-9"><num>(9)</num><content><p><mod>Rule 7.13C has effect as if after each of paragraph (2)(f) and (3)(f) there were inserted <quotedText startQuote="“">; and</quotedText><quotedStructure endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="rule" ukl:Context="main" ukl:Format="double"><level class="para1"><num>(g)</num><content><p>Article 13EE (replacement of monitor or appointment of additional monitor).</p></content></level></quotedStructure></mod></p></content></subparagraph><subparagraph eId="schedule-8-paragraph-50-10"><num>(10)</num><content><p>Rule 7.36(2) has effect as if it required the applicant to serve a sealed copy of the application on the monitor and the company to which the moratorium relates.</p></content></subparagraph><subparagraph eId="schedule-8-paragraph-50-11"><num>(11)</num><content><p>Omit Rules 7.07A and 7.08A.</p></content></subparagraph><subparagraph eId="schedule-8-paragraph-50-12"><num>(12)</num><content><p>Rule 7.27 has effect as if paragraph (2)(a) included a reference to proceedings under Part 1A of the Insolvency (Northern Ireland) Order 1989 or this Part of this Schedule.</p></content></subparagraph><subparagraph eId="schedule-8-paragraph-50-13"><num>(13)</num><content><p><mod>After Rule 12.23 insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="rule" ukl:Context="main" ukl:Format="double"><rule><heading>Court orders</heading><num>12.24.</num><content><p>Notwithstanding any requirement in these Rules as to the contents of a court order the court may make such other order or in such form as the court thinks fit.</p></content></rule></quotedStructure></mod></p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Identification details for a company</heading><paragraph eId="schedule-8-paragraph-51" class="schProv1"><num>51</num><subparagraph eId="schedule-8-paragraph-51-1"><num>(1)</num><intro><p>Where a provision of this Part of this Schedule requires a document to contain identification details for a company that is registered under the Companies Act 2006 in Northern Ireland, the following information must be given—</p></intro><level class="para1" eId="schedule-8-paragraph-51-1-a"><num>(a)</num><content><p>the company’s registered name;</p></content></level><level class="para1" eId="schedule-8-paragraph-51-1-b"><num>(b)</num><content><p>its registered number.</p></content></level></subparagraph><subparagraph eId="schedule-8-paragraph-51-2"><num>(2)</num><intro><p>Where a provision of this Part of this Schedule requires a document to contain identification details for a company that has registered particulars under section 1046(1) of the Companies Act 2006 (registered overseas companies), the following information must be given—</p></intro><level class="para1" eId="schedule-8-paragraph-51-2-a"><num>(a)</num><content><p>the name registered by the company under section 1047 of that Act,</p></content></level><level class="para1" eId="schedule-8-paragraph-51-2-b"><num>(b)</num><content><p>the number under which it is registered, and</p></content></level><level class="para1" eId="schedule-8-paragraph-51-2-c"><num>(c)</num><content><p>the country or territory in which it is incorporated.</p></content></level></subparagraph><subparagraph eId="schedule-8-paragraph-51-3"><num>(3)</num><intro><p>Where a provision of this Part of this Schedule requires a document to contain identification details for an unregistered company that does not come within sub-paragraph (2) the following information must be given—</p></intro><level class="para1" eId="schedule-8-paragraph-51-3-a"><num>(a)</num><content><p>the company’s name, and</p></content></level><level class="para1" eId="schedule-8-paragraph-51-3-b"><num>(b)</num><content><p>the postal address of any principal place of business.</p></content></level></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Contact details of a monitor or other office-holder</heading><paragraph eId="schedule-8-paragraph-52" class="schProv1"><num>52</num><intro><p>Where a provision of this Part of this Schedule requires a document to contain contact details of a monitor or other office-holder, the following information must be given—</p></intro><level class="para1" eId="schedule-8-paragraph-52-a"><num>(a)</num><content><p>a postal address for the monitor or office-holder, and</p></content></level><level class="para1" eId="schedule-8-paragraph-52-b"><num>(b)</num><content><p>either an email address, or a telephone number, through which the monitor may be contacted.</p></content></level></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>“The Insolvency Rules”</heading><paragraph eId="schedule-8-paragraph-53" class="schProv1"><num>53</num><content><p>In this Part of this Schedule “the Insolvency Rules” means the <ref eId="c00098" href="http://www.legislation.gov.uk/id/nisr/1991/364">Insolvency Rules (Northern Ireland) 1991 (S.R. (N.I.) 1991/364)</ref>.</p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Interpretation: general</heading><paragraph eId="schedule-8-paragraph-54" class="schProv1"><num>54</num><content><p>Expressions used in this Part of this Schedule are to be construed as if this Part of this Schedule were contained in Part 1A of the Insolvency (Northern Ireland) Order 1989.</p></content></paragraph></hcontainer></part><part eId="schedule-8-part-4"><num>PART 4</num><heading>Entities other than companies</heading><paragraph eId="schedule-8-paragraph-55" class="schProv1"><num>55</num><content><p>Regulations under section 14(1) of the Limited Liability Partnership Act 2000 may make provision applying or incorporating provision made by or under this Schedule, with such modifications as appear appropriate, in relation to a limited liability partnership registered in Northern Ireland.</p></content></paragraph><paragraph eId="schedule-8-paragraph-56" class="schProv1"><num>56</num><intro><p>An order under Article 10(2) of the Insolvency (Northern Ireland) Order 2005 may provide for provision made by or under this Schedule to apply (with or without modification) in relation to—</p></intro><level class="para1" eId="schedule-8-paragraph-56-a"><num>(a)</num><content><p>a registered society within the meaning of the Co-operative and Community Benefit Societies Act (Northern Ireland) 1969, or</p></content></level><level class="para1" eId="schedule-8-paragraph-56-b"><num>(b)</num><content><p>a credit union within the meaning of the Credit Unions (Northern Ireland) Order 1985.</p></content></level></paragraph></part></hcontainer>
<part xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-8-part-1"><num>PART 1</num><heading>“Relevant period” and powers to turn off temporary provision</heading><hcontainer name="crossheading" class="schGroup7"><heading>“Relevant period”</heading><paragraph eId="schedule-8-paragraph-1" class="schProv1"><num>1</num><intro><p>In this Schedule “relevant period” means the period which—</p></intro><level class="para1" eId="schedule-8-paragraph-1-a"><num>(a)</num><content><p>begins with the day on which this Schedule comes into force, and</p></content></level><level class="para1" eId="schedule-8-paragraph-1-b"><num>(b)</num><content><p>ends with 30 September 2020.</p></content></level></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Power to turn off particular provisions of Part 2 of this Schedule early</heading><paragraph eId="schedule-8-paragraph-2" class="schProv1"><num>2</num><subparagraph eId="schedule-8-paragraph-2-1"><num>(1)</num><content><p>The Department for the Economy in Northern Ireland may by regulations provide for any provision made by Part 2 of this Schedule to cease to have effect before the end of the relevant period.</p></content></subparagraph><subparagraph eId="schedule-8-paragraph-2-2"><num>(2)</num><content><p>The regulations may include transitional provision or savings.</p></content></subparagraph><subparagraph eId="schedule-8-paragraph-2-3"><num>(3)</num><content><p>The power of the Department to make regulations under this paragraph is exercisable by statutory rule for the purposes of the Statutory Rules (Northern Ireland) Order 1979 (<ref eId="c00097" href="http://www.legislation.gov.uk/id/nisi/1979/1573">S.I. 1979/1573 (N.I. 12)</ref>) (and not by statutory instrument).</p></content></subparagraph><subparagraph eId="schedule-8-paragraph-2-4"><num>(4)</num><content><p>Regulations made under this paragraph are subject to negative resolution within the meaning of section 41(6) of the Interpretation Act (Northern Ireland) 1954.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Power to turn off provisions of Part 3 of this Schedule early etc</heading><paragraph eId="schedule-8-paragraph-3" class="schProv1"><num>3</num><content><p>Rules under Article 359 of the Insolvency (Northern Ireland) Order 1989 may provide for any provision made by paragraphs <ref href="#schedule-8-paragraph-13">13</ref> to <ref href="#schedule-8-paragraph-54">54</ref> to cease to have effect before the end of the relevant period.</p></content></paragraph><paragraph eId="schedule-8-paragraph-4" class="schProv1"><num>4</num><content><p>Rules under Article 359 of the Insolvency (Northern Ireland) Order 1989 may make transitional provision or savings in connection with any provision made by paragraphs <ref href="#schedule-8-paragraph-13">13</ref> to <ref href="#schedule-8-paragraph-54">54</ref> ceasing to have effect (whether by virtue of paragraph <ref href="#schedule-8-paragraph-3">3</ref> or <ref href="#schedule-8-paragraph-12">12</ref>).</p></content></paragraph></hcontainer></part>
<part xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" eId="schedule-8-part-2"><num>PART 2</num><heading>Modifications to primary legislation</heading><hcontainer name="crossheading" class="schGroup7"><heading>“Eligible” company: additional exclusion</heading><paragraph eId="schedule-8-paragraph-5" class="schProv1"><num>5</num><intro><p>During the relevant period, a company is not eligible for the purposes of Article <ref href="#d25e5540">13B</ref>, <ref href="#d25e5592">13BA</ref> or <ref href="#d25e5647">13BB</ref> of the Insolvency (Northern Ireland) Order 1989 if the company—</p></intro><level class="para1" eId="schedule-8-paragraph-5-a"><num>(a)</num><content><p>has permission under Part 4A of the Financial Services and Markets Act 2000 to carry on a regulated activity within the meaning of that Act, and</p></content></level><level class="para1" eId="schedule-8-paragraph-5-b"><num>(b)</num><content><p>is not subject to a requirement imposed under that Act to refrain from holding money for clients.</p></content></level></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Relaxation of conditions for obtaining moratorium etc</heading><paragraph eId="schedule-8-paragraph-6" class="schProv1"><num>6</num><subparagraph eId="schedule-8-paragraph-6-1"><num>(1)</num><intro><p>For the purposes of obtaining a moratorium under Article <ref href="#d25e5540">13B</ref> of the Insolvency (Northern Ireland) Order 1989 during the relevant period—</p></intro><level class="para1" eId="schedule-8-paragraph-6-1-a"><num>(a)</num><content><p>Article <ref href="#d25e5540">13B</ref> of that Order has effect as if paragraph <ref href="#d25e278">(1)(a)</ref> were omitted;</p></content></level><level class="para1" eId="schedule-8-paragraph-6-1-b"><num>(b)</num><content><p>Article <ref href="#d25e5705">13BC</ref><ref href="#d25e5751">(1)(e)</ref> 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”;</p></content></level><level class="para1" eId="schedule-8-paragraph-6-1-c"><num>(c)</num><content><p>Schedule ZA1 to that Order has effect as if paragraph 2(1)(b) and (2)(b) were omitted.</p></content></level></subparagraph><subparagraph eId="schedule-8-paragraph-6-2"><num>(2)</num><content><p>During the relevant period, only an overseas company may obtain a moratorium under Article <ref href="#d25e5592">13BA</ref> of the Insolvency (Northern Ireland) Order 1989.</p></content></subparagraph></paragraph><paragraph eId="schedule-8-paragraph-7" class="schProv1"><num>7</num><intro><p>In relation to an application for a moratorium made under Article <ref href="#d25e5592">13BA</ref> or <ref href="#d25e5647">13BB</ref> of the Insolvency (Northern Ireland) Order 1989 during the relevant period—</p></intro><level class="para1" eId="schedule-8-paragraph-7-a"><num>(a)</num><content><p>Article <ref href="#d25e5705">13BC</ref><ref href="#d25e5751">(1)(e)</ref> 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”;</p></content></level><level class="para1" eId="schedule-8-paragraph-7-b"><num>(b)</num><content><p>Schedule ZA1 to that Order has effect as if paragraph 2(1)(b) and (2)(b) were omitted.</p></content></level></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Relaxation of conditions for extending moratorium obtained during relevant period</heading><paragraph eId="schedule-8-paragraph-8" class="schProv1"><num>8</num><subparagraph eId="schedule-8-paragraph-8-1"><num>(1)</num><content><p>This paragraph applies in relation to a moratorium that comes into force during the relevant period.</p></content></subparagraph><subparagraph eId="schedule-8-paragraph-8-2"><num>(2)</num><content><p>For the purposes of extending the moratorium under Article <ref href="#d25e6113">13CA</ref> or <ref href="#d25e6192">13CB</ref> of the Insolvency (Northern Ireland) Order 1989, paragraph <ref href="#d25e6156">(1)(d)</ref> of that Article 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”.</p></content></subparagraph><subparagraph eId="schedule-8-paragraph-8-3"><num>(3)</num><content><p>In relation to an application under Article <ref href="#d25e6377">13CD</ref> of the Insolvency (Northern Ireland) Order 1989 that the moratorium be extended, paragraph <ref href="#d25e6434">(2)(d)</ref> of that Article 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”.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Monitoring of moratorium obtained during relevant period</heading><paragraph eId="schedule-8-paragraph-9" class="schProv1"><num>9</num><content><p><mod>In relation to a moratorium that comes into force during the relevant period, Article <ref href="#d25e8570">13EA</ref><ref href="#d25e8574">(1)</ref> of the Insolvency (Northern Ireland) Order 1989 has effect as if for the words from “it remains likely” to the end there were substituted <quotedText startQuote="“">—</quotedText><quotedStructure endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="order" ukl:Context="main" ukl:Format="double"><level class="para1"><num>(a)</num><content><p>it is likely that the moratorium will result in the rescue of the company as a going concern, or</p></content></level><level class="para1"><num>(b)</num><content><p>that, if one were to disregard any worsening of the financial position of the company for reasons relating to coronavirus, it is likely that the moratorium would result in the rescue of the company as a going concern.</p></content></level></quotedStructure></mod></p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Termination of moratorium obtained during relevant period</heading><paragraph eId="schedule-8-paragraph-10" class="schProv1"><num>10</num><content><p><mod>In relation to a moratorium that comes into force during the relevant period, Article <ref href="#d25e8629">13ED</ref>(1) of the Insolvency (Northern Ireland) Order 1989 has effect as if for sub-paragraph (a) there were substituted—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="order" ukl:Context="main" ukl:Format="double"><level class="para1"><num>(a)</num><intro><p>the monitor thinks—</p></intro><level class="para2"><num>(i)</num><content><p>that the moratorium is not likely to result in the rescue of the company as a going concern, and</p></content></level><level class="para2"><num>(ii)</num><content><p>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,</p></content></level></level></quotedStructure><inline name="appendText">.</inline></mod></p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>“Coronavirus”</heading><paragraph eId="schedule-8-paragraph-11" class="schProv1"><num>11</num><content><p>In the modifications made by this Part of this Schedule “coronavirus” means severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2).</p></content></paragraph></hcontainer></part>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1"><num>(e)</num><content><p>winding up under Part 4 or 5 of that Act;</p></content></level>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-8-paragraph-8" class="schProv1"><num>8</num><subparagraph eId="schedule-8-paragraph-8-1"><num>(1)</num><content><p>This paragraph applies in relation to a moratorium that comes into force during the relevant period.</p></content></subparagraph><subparagraph eId="schedule-8-paragraph-8-2"><num>(2)</num><content><p>For the purposes of extending the moratorium under Article <ref href="#d25e6113">13CA</ref> or <ref href="#d25e6192">13CB</ref> of the Insolvency (Northern Ireland) Order 1989, paragraph <ref href="#d25e6156">(1)(d)</ref> of that Article 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”.</p></content></subparagraph><subparagraph eId="schedule-8-paragraph-8-3"><num>(3)</num><content><p>In relation to an application under Article <ref href="#d25e6377">13CD</ref> of the Insolvency (Northern Ireland) Order 1989 that the moratorium be extended, paragraph <ref href="#d25e6434">(2)(d)</ref> of that Article 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”.</p></content></subparagraph></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-8-paragraph-11" class="schProv1"><num>11</num><content><p>In the modifications made by this Part of this Schedule “coronavirus” means severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2).</p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-9-paragraph-8" class="schProv1"><num>8</num><content><p>The Insolvency (Northern Ireland) Order 1989 is amended as follows.</p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-11-paragraph-17" class="schProv1"><num>17</num><subparagraph eId="schedule-11-paragraph-17-1"><num>(1)</num><intro><p>This paragraph applies in relation to a petition which is presented by a creditor under Article 104 of the 1989 Order—</p></intro><level class="para1" eId="schedule-11-paragraph-17-1-a"><num>(a)</num><content><p>on or after the day on which this Schedule comes into force, but</p></content></level><level class="para1" eId="schedule-11-paragraph-17-1-b"><num>(b)</num><content><p>before the end of the relevant period.</p></content></level></subparagraph><subparagraph eId="schedule-11-paragraph-17-2"><num>(2)</num><content><p>Any provision of the 1991 Insolvency Rules which requires or permits (or authorises the High Court to require or permit) notice, publication or advertisement of the petition does not apply until such time as the High Court has made a determination in relation to the question of whether it is likely that the Court will be able to make an order under Article 102(f) or 185(4)(b) of the 1989 Order.</p></content></subparagraph><subparagraph eId="schedule-11-paragraph-17-3"><num>(3)</num><content><p>The 1991 Insolvency Rules have effect as if they required the petition to contain a statement that the petitioner considers that the condition described in paragraph 2(2) or (4) or 3(2) or (4) of this Schedule (as the case may be) is met.</p></content></subparagraph><subparagraph eId="schedule-11-paragraph-17-4"><num>(4)</num><intro><p>The rights referred to in the following provisions of the 1991 Insolvency Rules are not exercisable without the permission of the High Court—</p></intro><level class="para1" eId="schedule-11-paragraph-17-4-a"><num>(a)</num><content><p>paragraph (1) of Rule 7.25 (right to inspect court record);</p></content></level><level class="para1" eId="schedule-11-paragraph-17-4-b"><num>(b)</num><content><p>paragraphs (1) to (3) of Rule 7.27 (right to inspect court file);</p></content></level><level class="para1" eId="schedule-11-paragraph-17-4-c"><num>(c)</num><content><p>paragraphs (1) and (2) of Rule 7.55 (right to copy of document in court file).</p></content></level></subparagraph></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-9-paragraph-9" class="schProv1"><num>9</num><content><p>In Article 150A (share of assets for unsecured creditors), in paragraph (4)(b), after “Part 26” insert “or 26A”.</p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-9-paragraph-10" class="schProv1"><num>10</num><subparagraph eId="schedule-9-paragraph-10-1"><num>(1)</num><content><p>Schedule B1 (administration) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-9-paragraph-10-2"><num>(2)</num><content><p>In paragraph 50 (administrator’s proposals), in sub-paragraph (3)(b), after “Part 26” insert “or 26A”.</p></content></subparagraph><subparagraph eId="schedule-9-paragraph-10-3"><num>(3)</num><content><p>In paragraph 74 (protection for secured or preferential creditor), in sub-paragraph (2)(c), after “Part 26” insert “or 26A”.</p></content></subparagraph><subparagraph eId="schedule-9-paragraph-10-4"><num>(4)</num><content><p>In paragraph 75 (challenge to administrator’s conduct of company), in sub-paragraph (6)(b), after “Part 26” insert “or 26A”.</p></content></subparagraph></paragraph>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1"><num>(c)</num><content><p>any other association or body of persons, whether or not incorporated, and</p></content></level>
<part xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" eId="schedule-8-part-3"><num>PART 3</num><heading>Temporary rules</heading><hcontainer name="crossheading" class="schGroup7"><heading>Introductory</heading><paragraph eId="schedule-8-paragraph-12" class="schProv1"><num>12</num><content><p>Paragraphs <ref href="#schedule-8-paragraph-13">13</ref> to <ref href="#schedule-8-paragraph-54">54</ref> cease to have effect at the end of the relevant period, subject to paragraph <ref href="#schedule-8-paragraph-3">3</ref>.</p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Content of documents relating to the obtaining or extending of a moratorium: general</heading><paragraph eId="schedule-8-paragraph-13" class="schProv1"><num>13</num><intro><p>A notice or statement under Article <ref href="#d25e5705">13BC</ref><ref href="#d25e5709">(1)</ref>, <ref href="#d25e5890">13BE</ref><ref href="#d25e5900">(2)</ref>, <ref href="#d25e6113">13CA</ref><ref href="#d25e6117">(1)</ref>, <ref href="#d25e6192">13CB</ref><ref href="#d25e6196">(1)</ref> or <ref href="#d25e6377">13CD</ref><ref href="#d25e6387">(2)</ref> of the Insolvency (Northern Ireland) Order 1989 must state—</p></intro><level class="para1" eId="schedule-8-paragraph-13-a"><num>(a)</num><content><p>the provision under which it is given or made,</p></content></level><level class="para1" eId="schedule-8-paragraph-13-b"><num>(b)</num><content><p>the nature of the notice or statement,</p></content></level><level class="para1" eId="schedule-8-paragraph-13-c"><num>(c)</num><content><p>the date of the notice or statement, and</p></content></level><level class="para1" eId="schedule-8-paragraph-13-d"><num>(d)</num><content><p>the identification details for the company to which it relates.</p></content></level></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Authentication of documents relating to obtaining or extending moratorium: general</heading><paragraph eId="schedule-8-paragraph-14" class="schProv1"><num>14</num><subparagraph eId="schedule-8-paragraph-14-1"><num>(1)</num><content><p>A notice or statement under Article <ref href="#d25e5705">13BC</ref><ref href="#d25e5709">(1)</ref>, <ref href="#d25e6113">13CA</ref><ref href="#d25e6117">(1)</ref>, <ref href="#d25e6192">13CB</ref><ref href="#d25e6196">(1)</ref> or <ref href="#d25e6377">13CD</ref><ref href="#d25e6387">(2)</ref> of the Insolvency (Northern Ireland) Order 1989 must be authenticated by or on behalf of the person giving the notice or making the statement (see paragraph <ref href="#schedule-8-paragraph-49">49</ref>).</p></content></subparagraph><subparagraph eId="schedule-8-paragraph-14-2"><num>(2)</num><content><p>A notice under Article <ref href="#d25e5890">13BE</ref><ref href="#d25e5909">(2)(a)</ref> of the Insolvency (Northern Ireland) Order 1989 must be authenticated by the monitor (see paragraph <ref href="#schedule-8-paragraph-49">49</ref>).</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Notice that directors wish to obtain a moratorium</heading><paragraph eId="schedule-8-paragraph-15" class="schProv1"><num>15</num><content><p>A notice under Article <ref href="#d25e5705">13BC</ref><ref href="#d25e5715">(1)(a)</ref> of the Insolvency (Northern Ireland) Order 1989 must state the company’s address for service.</p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Proposed monitor’s statement and consent to act</heading><paragraph eId="schedule-8-paragraph-16" class="schProv1"><num>16</num><subparagraph eId="schedule-8-paragraph-16-1"><num>(1)</num><intro><p>A statement under Article <ref href="#d25e5705">13BC</ref><ref href="#d25e5721">(1)(b)</ref> of the Insolvency (Northern Ireland) Order 1989 must be headed “Proposed monitor’s statement and consent to act” and must contain the following—</p></intro><level class="para1" eId="schedule-8-paragraph-16-1-a"><num>(a)</num><content><p>a certificate that the proposed monitor is qualified to act as an insolvency practitioner in relation to the company,</p></content></level><level class="para1" eId="schedule-8-paragraph-16-1-b"><num>(b)</num><content><p>the proposed monitor’s IP number,</p></content></level><level class="para1" eId="schedule-8-paragraph-16-1-c"><num>(c)</num><content><p>the name of the relevant recognised professional body which is the source of the proposed monitor’s authorisation to act in relation to the company, and</p></content></level><level class="para1" eId="schedule-8-paragraph-16-1-d"><num>(d)</num><content><p>a statement that the proposed monitor consents to act as monitor in relation to the company.</p></content></level></subparagraph><subparagraph eId="schedule-8-paragraph-16-2"><num>(2)</num><content><p>In this paragraph “IP number” means the identifying number or reference issued to the insolvency practitioner by a professional body recognised under Article 350 of the Insolvency (Northern Ireland) Order 1989.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Timing of statements for obtaining moratorium</heading><paragraph eId="schedule-8-paragraph-17" class="schProv1"><num>17</num><content><p>Each statement under Article <ref href="#d25e5705">13BC</ref><ref href="#d25e449">(1)(b)</ref> to <ref href="#d25e479">(e)</ref> of the Insolvency (Northern Ireland) Order 1989 must be made within the period of 5 days ending with the day on which the documents under Article <ref href="#d25e5705">13BC</ref><ref href="#d25e443">(1)(a)</ref> to <ref href="#d25e479">(e)</ref> are filed with the High Court (or, if the documents are filed on different days, the last of those days).</p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Notice by monitor where moratorium comes into force</heading><paragraph eId="schedule-8-paragraph-18" class="schProv1"><num>18</num><intro><p>A notice under Article <ref href="#d25e5890">13BE</ref><ref href="#d25e5900">(2)</ref> of the Insolvency (Northern Ireland) Order 1989 must—</p></intro><level class="para1" eId="schedule-8-paragraph-18-a"><num>(a)</num><content><p>state that it is given by the monitor acting in that capacity, and</p></content></level><level class="para1" eId="schedule-8-paragraph-18-b"><num>(b)</num><content><p>state the name and contact details of the monitor.</p></content></level></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Notice that directors wish to extend a moratorium</heading><paragraph eId="schedule-8-paragraph-19" class="schProv1"><num>19</num><content><p>A notice under Article <ref href="#d25e6113">13CA</ref><ref href="#d25e6123">(1)(a)</ref> or <ref href="#d25e6192">13CB</ref><ref href="#d25e6202">(1)(a)</ref> of the Insolvency (Northern Ireland) Order 1989 must state the company’s address for service.</p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Extension under Article <ref href="#d25e6113">13CA</ref> or <ref href="#d25e6192">13CB</ref> of the Insolvency (Northern Ireland) Order 1989: notices and statements</heading><paragraph eId="schedule-8-paragraph-20" class="schProv1"><num>20</num><content><p>A statement by the monitor under Article <ref href="#d25e6113">13CA</ref><ref href="#d25e6156">(1)(d)</ref> or <ref href="#d25e6192">13CB</ref><ref href="#d25e6235">(1)(d)</ref> of the Insolvency (Northern Ireland) Order 1989 must contain contact details of the monitor.</p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Timing of statements for extension under Article <ref href="#d25e6113">13CA</ref> or <ref href="#d25e6192">13CB</ref></heading><paragraph eId="schedule-8-paragraph-21" class="schProv1"><num>21</num><content><p>Each statement under Article <ref href="#d25e6113">13CA</ref><ref href="#d25e857">(1)(b)</ref> to <ref href="#d25e884">(d)</ref> or <ref href="#d25e6192">13CB</ref><ref href="#d25e936">(1)(b)</ref> to <ref href="#d25e969">(e)</ref> of the Insolvency (Northern Ireland) Order 1989 must be made within the period of 3 days ending with the day on which the documents under Article <ref href="#d25e6113">13CA</ref><ref href="#d25e851">(1)(a)</ref> to <ref href="#d25e884">(d)</ref> or <ref href="#d25e6192">13CB</ref><ref href="#d25e930">(1)(a)</ref> to <ref href="#d25e969">(e)</ref> are filed with the High Court (or, if the documents are filed on different days, the last of those days).</p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Obtaining creditor consent at meeting</heading><paragraph eId="schedule-8-paragraph-22" class="schProv1"><num>22</num><content><p>If a meeting under Article 13CC(2) of the Insolvency (Northern Ireland) Order 1989 is held during the relevant period (within the meaning given by paragraph 1), paragraph 3 of Schedule 14 applies to the meeting as if it were a meeting within sub-paragraph (2) of that paragraph (even if the meeting is not held within the relevant period within the meaning of that Schedule).</p></content></paragraph><paragraph eId="schedule-8-paragraph-23" class="schProv1"><num>23</num><subparagraph eId="schedule-8-paragraph-23-1"><num>(1)</num><content><p>In their application for the purposes of a decision by pre-moratorium creditors to consent to a revised end date for a moratorium under Article 13CC of the Insolvency (Northern Ireland) Order 1989, the Insolvency Rules have effect with the following modifications.</p></content></subparagraph><subparagraph eId="schedule-8-paragraph-23-2"><num>(2)</num><content><p>References to creditors are to be read as references to the pre-moratorium creditors.</p></content></subparagraph><subparagraph eId="schedule-8-paragraph-23-3"><num>(3)</num><intro><p>The following rules have effect with the further modifications set out in paragraphs <ref href="#schedule-8-paragraph-24">24</ref> to 30—</p></intro><level class="para1" eId="schedule-8-paragraph-23-3-a"><num>(a)</num><content><p>Rule 4.061;</p></content></level><level class="para1" eId="schedule-8-paragraph-23-3-b"><num>(b)</num><content><p>Rule 4.062;</p></content></level><level class="para1" eId="schedule-8-paragraph-23-3-c"><num>(c)</num><content><p>Rule 4.065;</p></content></level><level class="para1" eId="schedule-8-paragraph-23-3-d"><num>(d)</num><content><p>Rule 4.068;</p></content></level><level class="para1" eId="schedule-8-paragraph-23-3-e"><num>(e)</num><content><p>Rule 4.070;</p></content></level><level class="para1" eId="schedule-8-paragraph-23-3-f"><num>(f)</num><content><p>Rule 4.073;</p></content></level><level class="para1" eId="schedule-8-paragraph-23-3-g"><num>(g)</num><content><p>Rule 4.077.</p></content></level></subparagraph></paragraph><paragraph eId="schedule-8-paragraph-24" class="schProv1"><num>24</num><content><p><mod>Rule 4.061 has effect as if for paragraphs (1) to (6) there were substituted—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="rule" ukl:Context="main" ukl:Format="double"><paragraph><num>(1)</num><content><p>For the purposes of Rules 4.061 to 4.077 the directors summoning a meeting of pre-moratorium creditors under Article 13CC of the Order are referred to (collectively) as “the convener”.</p></content></paragraph><paragraph><num>(2)</num><content><p>When a venue for such a meeting has been fixed, notice of it must be given by the convener to every pre-moratorium creditor who is known to the convener.</p></content></paragraph><paragraph><num>(3)</num><content><p>Notice of the meeting must be given at least 5 days before the date fixed for it, and must specify the purpose of the meeting.</p></content></paragraph><paragraph><num>(4)</num><content><p>The notice shall state that proofs and (if applicable) proxies shall be lodged at a specified place not later than 12.00 hours on the business day before the date fixed for the meeting in order for pre-moratorium creditors to be entitled to vote at the meeting.</p></content></paragraph></quotedStructure></mod></p></content></paragraph><paragraph eId="schedule-8-paragraph-25" class="schProv1"><num>25</num><content><p><mod>Rule 4.062 has effect as if for paragraphs (2) to (5) there were substituted—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="rule" ukl:Context="main" ukl:Format="double"><paragraph><num>(2)</num><content><p>The convener must nominate a person to act as chairman.</p></content></paragraph></quotedStructure></mod></p></content></paragraph><paragraph eId="schedule-8-paragraph-26" class="schProv1"><num>26</num><content><p>Rule 4.065 has effect as if, in paragraph (2), for “21 days” there were substituted “5 days”.</p></content></paragraph><paragraph eId="schedule-8-paragraph-27" class="schProv1"><num>27</num><content><p><mod>Rule 4.068 has effect as if for it there were substituted—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="rule" ukl:Context="main" ukl:Format="double"><rule><num>4.068.</num><content><p>The expenses of summoning and holding a meeting of pre-moratorium creditors at the instance of the directors of the company are to be paid by the company.</p></content></rule></quotedStructure></mod></p></content></paragraph><paragraph eId="schedule-8-paragraph-28" class="schProv1"><num>28</num><content><p><mod>Rule 4.070 has effect as if for it (and its heading) there were substituted—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="rule" ukl:Context="main" ukl:Format="double"><rule><heading>Requisite majorities</heading><num>4.070.</num><paragraph><num>(1)</num><intro><p>A decision to consent to a revised end date for a moratorium under Article 13CC of the Order is made if, of those voting—</p></intro><level class="para1"><num>(a)</num><content><p>a majority (in value) of the pre-moratorium creditors who are secured creditors vote in favour of the proposed decision, and</p></content></level><level class="para1"><num>(b)</num><content><p>a majority (in value) of the pre-moratorium creditors who are unsecured creditors vote in favour of the proposed decision.</p></content></level></paragraph><paragraph><num>(2)</num><intro><p>But a decision to consent to a revised end date for a moratorium under Article 13CC of the Order is not made if, of those voting, either—</p></intro><level class="para1"><num>(a)</num><content><p>a majority of the pre-moratorium creditors who are unconnected secured creditors vote against the proposed end date, or</p></content></level><level class="para1"><num>(b)</num><content><p>a majority of the pre-moratorium creditors who are unconnected unsecured creditors vote against the proposed end date.</p></content></level></paragraph><paragraph><num>(3)</num><intro><p>For the purposes of paragraph (2)—</p></intro><level class="para1"><num>(a)</num><content><p>a creditor is unconnected unless the convener or chair decides that the creditor is connected, and</p></content></level><level class="para1"><num>(b)</num><content><p>the total value of the unconnected creditors is the total value of those unconnected creditors whose claims have been admitted for voting.</p></content></level></paragraph></rule></quotedStructure></mod></p></content></paragraph><paragraph eId="schedule-8-paragraph-29" class="schProv1"><num>29</num><intro><p>Rule 4.073 has effect as if—</p></intro><level class="para1" eId="schedule-8-paragraph-29-a"><num>(a)</num><content><p><mod>after paragraph (3) there were inserted—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="rule" ukl:Context="main" ukl:Format="double"><paragraph><num>(3A)</num><content><p>Votes are calculated according to the amount of each pre-moratorium creditor’s claim at the date of the meeting.</p></content></paragraph></quotedStructure><inline name="appendText">;</inline></mod></p></content></level><level class="para1" eId="schedule-8-paragraph-29-b"><num>(b)</num><content><p><mod>for paragraph (4) there were substituted—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="rule" ukl:Context="main" ukl:Format="double"><paragraph><num>(4)</num><content><p>A debt of an unliquidated or unascertained amount is to be valued at £1 for the purposes of voting unless the convener or the chairman decides to put a higher value on it.</p></content></paragraph></quotedStructure><inline name="appendText">;</inline></mod></p></content></level><level class="para1" eId="schedule-8-paragraph-29-c"><num>(c)</num><content><p><mod>for paragraph (5) there were substituted—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="rule" ukl:Context="main" ukl:Format="double"><paragraph><num>(5)</num><content><p>If a debt is partly or wholly secured the value of the debt for voting purposes is its full value without deduction of the value of the security.</p></content></paragraph></quotedStructure><inline name="appendText">;</inline></mod></p></content></level><level class="para1" eId="schedule-8-paragraph-29-d"><num>(d)</num><content><p><mod>for paragraph (6) there were substituted—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="rule" ukl:Context="main" ukl:Format="double"><paragraph><num>(6)</num><content><p>A pre-moratorium creditor under a hire-purchase agreement is entitled to vote in respect of the amount of the debt due and payable by the company at the date of the meeting.</p></content></paragraph><paragraph><num>(6A)</num><content><p>In calculating the amount of any debt for the purpose of paragraph (6), no account is to be taken of any amount attributable to the exercise of any right under the relevant agreement so far as the right has become exercisable solely by virtue of a moratorium for the company coming into force.</p></content></paragraph></quotedStructure></mod></p></content></level></paragraph><paragraph eId="schedule-8-paragraph-30" class="schProv1"><num>30</num><intro><p>Rule 4.077 has effect as if—</p></intro><level class="para1" eId="schedule-8-paragraph-30-a"><num>(a)</num><content><p>in paragraph (1) for “liquidation” there were substituted “moratorium”;</p></content></level><level class="para1" eId="schedule-8-paragraph-30-b"><num>(b)</num><content><p>paragraph (4) were omitted.</p></content></level></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Content of application to the High Court for extension of moratorium</heading><paragraph eId="schedule-8-paragraph-31" class="schProv1"><num>31</num><subparagraph eId="schedule-8-paragraph-31-1"><num>(1)</num><intro><p>An application by the directors of a company for the extension of a moratorium under Article <ref href="#d25e6377">13CD</ref> of the Insolvency (Northern Ireland) Order 1989 must state—</p></intro><level class="para1" eId="schedule-8-paragraph-31-1-a"><num>(a)</num><content><p>that it is made under that Article,</p></content></level><level class="para1" eId="schedule-8-paragraph-31-1-b"><num>(b)</num><content><p>the length of the extension sought,</p></content></level><level class="para1" eId="schedule-8-paragraph-31-1-c"><num>(c)</num><content><p>identification details for the company to which the application relates, and</p></content></level><level class="para1" eId="schedule-8-paragraph-31-1-d"><num>(d)</num><content><p>the company’s address for service.</p></content></level></subparagraph><subparagraph eId="schedule-8-paragraph-31-2"><num>(2)</num><content><p>The application must be authenticated by or on behalf of the directors (see paragraph <ref href="#schedule-8-paragraph-49">49</ref>).</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Timing of statements accompanying application to High Court for extension of moratorium</heading><paragraph eId="schedule-8-paragraph-32" class="schProv1"><num>32</num><content><p>A statement under Article <ref href="#d25e6377">13CD</ref><ref href="#d25e6387">(2)</ref> must be made within the period of 3 days ending with the day on which the application under that Article is made.</p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Notices about change in end of moratorium</heading><paragraph eId="schedule-8-paragraph-33" class="schProv1"><num>33</num><subparagraph eId="schedule-8-paragraph-33-1"><num>(1)</num><content><p>A notice under Article <ref href="#d25e6751">13CH</ref><ref href="#d25e6755">(1)</ref> of the Insolvency (Northern Ireland) Order 1989 must be given within the period of 5 days beginning with the day on which the duty to give the notice arises.</p></content></subparagraph><subparagraph eId="schedule-8-paragraph-33-2"><num>(2)</num><intro><p>The notice must state—</p></intro><level class="para1" eId="schedule-8-paragraph-33-2-a"><num>(a)</num><content><p>the name of the company to which it relates, and</p></content></level><level class="para1" eId="schedule-8-paragraph-33-2-b"><num>(b)</num><content><p>the provision by virtue of which the moratorium was extended or came to an end.</p></content></level></subparagraph></paragraph><paragraph eId="schedule-8-paragraph-34" class="schProv1"><num>34</num><subparagraph eId="schedule-8-paragraph-34-1"><num>(1)</num><content><p>A notice under Article <ref href="#d25e6751">13CH</ref><ref href="#d25e6897">(2)</ref> or <ref href="#d25e6914">(3)</ref> of the Insolvency (Northern Ireland) Order 1989 must be given within the period of 5 days beginning with the day on which the duty to give the notice arises.</p></content></subparagraph><subparagraph eId="schedule-8-paragraph-34-2"><num>(2)</num><intro><p>The notice must state—</p></intro><level class="para1" eId="schedule-8-paragraph-34-2-a"><num>(a)</num><content><p>the provision under which it is given,</p></content></level><level class="para1" eId="schedule-8-paragraph-34-2-b"><num>(b)</num><content><p>the nature of the notice,</p></content></level><level class="para1" eId="schedule-8-paragraph-34-2-c"><num>(c)</num><content><p>the date of the notice,</p></content></level><level class="para1" eId="schedule-8-paragraph-34-2-d"><num>(d)</num><content><p>that it is given by the monitor acting in that capacity,</p></content></level><level class="para1" eId="schedule-8-paragraph-34-2-e"><num>(e)</num><content><p>the name and contact details of the monitor, and</p></content></level><level class="para1" eId="schedule-8-paragraph-34-2-f"><num>(f)</num><content><p>the identification details for the company to which it relates.</p></content></level></subparagraph><subparagraph eId="schedule-8-paragraph-34-3"><num>(3)</num><content><p>A notice under Article <ref href="#d25e6751">13CH</ref><ref href="#d25e6897">(2)</ref> or <ref href="#d25e6914">(3)</ref> of the Insolvency (Northern Ireland) Order 1989 that is given to the registrar must be authenticated by or on behalf of the monitor (see paragraph <ref href="#schedule-8-paragraph-49">49</ref>).</p></content></subparagraph></paragraph><paragraph eId="schedule-8-paragraph-35" class="schProv1"><num>35</num><intro><p>Where a moratorium comes to an end under Article <ref href="#d25e6687">13CG</ref> of the Insolvency (Northern Ireland) Order 1989 because the company has entered into a relevant insolvency procedure within the meaning of that Article, the notices under Article <ref href="#d25e6751">13CH</ref><ref href="#d25e6755">(1)</ref> and <ref href="#d25e6897">(2)</ref> must state—</p></intro><level class="para1" eId="schedule-8-paragraph-35-a"><num>(a)</num><content><p>the date on which the company entered into the relevant insolvency procedure, and</p></content></level><level class="para1" eId="schedule-8-paragraph-35-b"><num>(b)</num><content><p>the name and contact details of the supervisor of the voluntary arrangement, the administrator or the liquidator.</p></content></level></paragraph><paragraph eId="schedule-8-paragraph-36" class="schProv1"><num>36</num><subparagraph eId="schedule-8-paragraph-36-1"><num>(1)</num><content><p>A notice under Article <ref href="#d25e6751">13CH</ref><ref href="#d25e6920">(4)</ref> of the Insolvency (Northern Ireland) Order 1989 must be given within the period of 3 business days beginning with the day on which the notice under Article <ref href="#d25e8629">13ED</ref>(1) of that Order is filed with the High Court.</p></content></subparagraph><subparagraph eId="schedule-8-paragraph-36-2"><num>(2)</num><content><p>The notice under Article <ref href="#d25e6751">13CH</ref><ref href="#d25e6920">(4)</ref> of that Order must be accompanied by the notice that the monitor has filed with the High Court under Article <ref href="#d25e8629">13ED</ref>(1) of that Order.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Notification by directors of insolvency proceedings etc</heading><paragraph eId="schedule-8-paragraph-37" class="schProv1"><num>37</num><subparagraph eId="schedule-8-paragraph-37-1"><num>(1)</num><content><p>A notice under Article <ref href="#d25e7730">13DF</ref><ref href="#d25e7734">(1)</ref> of the Insolvency (Northern Ireland) Order 1989 must be given before the period of 3 days ending with the day on which the step mentioned there is taken.</p></content></subparagraph><subparagraph eId="schedule-8-paragraph-37-2"><num>(2)</num><content><p>A notice under Article <ref href="#d25e7730">13DF</ref><ref href="#d25e7758">(2)</ref> of the Insolvency (Northern Ireland) Order 1989 must be given within the period of 3 days beginning with the day on which the duty to give the notice arises.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Notice of termination of moratorium</heading><paragraph eId="schedule-8-paragraph-38" class="schProv1"><num>38</num><subparagraph eId="schedule-8-paragraph-38-1"><num>(1)</num><content><p>A notice under Article <ref href="#d25e8629">13ED</ref>(1) of the Insolvency (Northern Ireland) Order 1989 must be filed with the High Court as soon as practicable after the duty in that paragraph arises.</p></content></subparagraph><subparagraph eId="schedule-8-paragraph-38-2"><num>(2)</num><intro><p>The notice must state—</p></intro><level class="para1" eId="schedule-8-paragraph-38-2-a"><num>(a)</num><content><p>the provision under which it is given,</p></content></level><level class="para1" eId="schedule-8-paragraph-38-2-b"><num>(b)</num><content><p>the nature of the notice,</p></content></level><level class="para1" eId="schedule-8-paragraph-38-2-c"><num>(c)</num><content><p>the date of the notice,</p></content></level><level class="para1" eId="schedule-8-paragraph-38-2-d"><num>(d)</num><content><p>the name and contact details of the monitor,</p></content></level><level class="para1" eId="schedule-8-paragraph-38-2-e"><num>(e)</num><content><p>the identification details for the company to which it relates,</p></content></level><level class="para1" eId="schedule-8-paragraph-38-2-f"><num>(f)</num><content><p>the grounds on which the moratorium is being terminated,</p></content></level><level class="para1" eId="schedule-8-paragraph-38-2-g"><num>(g)</num><content><p>the monitor’s reasons for concluding that those grounds are made out, and</p></content></level><level class="para1" eId="schedule-8-paragraph-38-2-h"><num>(h)</num><content><p>the date on which the monitor concluded that those grounds were made out.</p></content></level></subparagraph><subparagraph eId="schedule-8-paragraph-38-3"><num>(3)</num><content><p>The notice must be authenticated by or on behalf of the monitor (see paragraph <ref href="#schedule-8-paragraph-49">49</ref>).</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Termination of moratorium under Article <ref href="#d25e8629">13ED</ref>(1)(d) of the Insolvency (Northern Ireland) Order 1989</heading><paragraph eId="schedule-8-paragraph-39" class="schProv1"><num>39</num><intro><p>For the purposes of deciding whether to bring a moratorium to an end under Article <ref href="#d25e8629">13ED</ref>(1)(d) of the Insolvency (Northern Ireland) Order 1989 the monitor must disregard—</p></intro><level class="para1" eId="schedule-8-paragraph-39-a"><num>(a)</num><content><p>any debts that the monitor has reasonable grounds for thinking are likely to be paid within 5 days of the decision, and</p></content></level><level class="para1" eId="schedule-8-paragraph-39-b"><num>(b)</num><content><p>any debts in respect of which the creditor has agreed to defer payment until a time that is later than the decision.</p></content></level></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Replacement of monitor or additional monitor: statement and consent to act</heading><paragraph eId="schedule-8-paragraph-40" class="schProv1"><num>40</num><subparagraph eId="schedule-8-paragraph-40-1"><num>(1)</num><intro><p>A statement under Article <ref href="#d25e8729">13EE</ref><ref href="#d25e8757">(4)</ref> of the Insolvency (Northern Ireland) Order 1989 must be headed “Proposed monitor’s statement and consent to act” and must contain the following—</p></intro><level class="para1" eId="schedule-8-paragraph-40-1-a"><num>(a)</num><content><p>a certificate that the proposed monitor is qualified to act as an insolvency practitioner in relation to the company,</p></content></level><level class="para1" eId="schedule-8-paragraph-40-1-b"><num>(b)</num><content><p>the proposed monitor’s IP number,</p></content></level><level class="para1" eId="schedule-8-paragraph-40-1-c"><num>(c)</num><content><p>the name of the relevant recognised professional body which is the source of the proposed monitor’s authorisation to act in relation to the company, and</p></content></level><level class="para1" eId="schedule-8-paragraph-40-1-d"><num>(d)</num><content><p>a statement that the proposed monitor consents to act as monitor in relation to the company.</p></content></level></subparagraph><subparagraph eId="schedule-8-paragraph-40-2"><num>(2)</num><content><p>The statement must be made within the period of 5 days ending with the day on which it is filed with the High Court.</p></content></subparagraph><subparagraph eId="schedule-8-paragraph-40-3"><num>(3)</num><content><p>In this paragraph “IP number” means the identifying number or reference issued to the insolvency practitioner by a professional body recognised under Article 350 of the Insolvency (Northern Ireland) Order 1989.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Replacement of monitor or additional monitor: notification</heading><paragraph eId="schedule-8-paragraph-41" class="schProv1"><num>41</num><subparagraph eId="schedule-8-paragraph-41-1"><num>(1)</num><intro><p>A notice under Article 13EE(8) of the Insolvency (Northern Ireland) Order 1989 must state—</p></intro><level class="para1" eId="schedule-8-paragraph-41-1-a"><num>(a)</num><content><p>the provision under which it is given,</p></content></level><level class="para1" eId="schedule-8-paragraph-41-1-b"><num>(b)</num><content><p>the nature of the notice,</p></content></level><level class="para1" eId="schedule-8-paragraph-41-1-c"><num>(c)</num><content><p>the date of the notice,</p></content></level><level class="para1" eId="schedule-8-paragraph-41-1-d"><num>(d)</num><content><p>the identification details for the company to which it relates,</p></content></level><level class="para1" eId="schedule-8-paragraph-41-1-e"><num>(e)</num><content><p>that it is given by the monitor acting in that capacity, and</p></content></level><level class="para1" eId="schedule-8-paragraph-41-1-f"><num>(f)</num><content><p>the name and contact details of the monitor.</p></content></level></subparagraph><subparagraph eId="schedule-8-paragraph-41-2"><num>(2)</num><content><p>The notice must be authenticated by the monitor (see paragraph <ref href="#schedule-8-paragraph-49">49</ref>).</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Challenge to monitor’s remuneration</heading><paragraph eId="schedule-8-paragraph-42" class="schProv1"><num>42</num><subparagraph eId="schedule-8-paragraph-42-1"><num>(1)</num><content><p>An administrator or liquidator of a company may apply to the High Court on the ground that remuneration charged by the monitor in relation to a prior moratorium for the company under Part 1A of the Insolvency (Northern Ireland) Order 1989 was excessive.</p></content></subparagraph><subparagraph eId="schedule-8-paragraph-42-2"><num>(2)</num><content><p>An application under this paragraph may not be made after the end of the period of 2 years beginning with the day after the moratorium ends.</p></content></subparagraph><subparagraph eId="schedule-8-paragraph-42-3"><num>(3)</num><intro><p>On an application under this paragraph the Court may—</p></intro><level class="para1" eId="schedule-8-paragraph-42-3-a"><num>(a)</num><content><p>dismiss the application,</p></content></level><level class="para1" eId="schedule-8-paragraph-42-3-b"><num>(b)</num><content><p>order the monitor to repay some or all of the remuneration, or</p></content></level><level class="para1" eId="schedule-8-paragraph-42-3-c"><num>(c)</num><content><p>make such other order as it thinks fit.</p></content></level></subparagraph><subparagraph eId="schedule-8-paragraph-42-4"><num>(4)</num><content><p>The costs of an application under this paragraph are, unless the Court orders otherwise, to be paid as an expense of the administration or liquidation.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Challenge to directors’ actions: meeting</heading><paragraph eId="schedule-8-paragraph-43" class="schProv1"><num>43</num><intro><p>Where the High Court makes an order by virtue of Article 13FB(4)(c) of the Insolvency (Northern Ireland) Order 1989 requiring the summoning of a meeting of a company’s creditors, the following provisions of the Insolvency Rules apply for the purposes of that meeting to the extent set out in the Court’s order and subject to any modifications set out in the Court’s order—</p></intro><level class="para1" eId="schedule-8-paragraph-43-a"><num>(a)</num><content><p>Rules 4.061 to 4.077 (meetings);</p></content></level><level class="para1" eId="schedule-8-paragraph-43-b"><num>(b)</num><content><p>Part 8 (proxies);</p></content></level><level class="para1" eId="schedule-8-paragraph-43-c"><num>(c)</num><content><p>Rule 12.05 (quorum).</p></content></level></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Priority of moratorium debts etc in subsequent winding up</heading><paragraph eId="schedule-8-paragraph-44" class="schProv1"><num>44</num><subparagraph eId="schedule-8-paragraph-44-1"><num>(1)</num><intro><p>Where Article 148A of the Insolvency (Northern Ireland) Order 1989 applies, the moratorium debts and pre-moratorium debts mentioned in paragraph (2)(b) of that Article are payable in the following order of priority—</p></intro><level class="para1" eId="schedule-8-paragraph-44-1-a"><num>(a)</num><content><p>amounts payable in respect of goods or services supplied during the moratorium under a contract where, but for Article 197B(3) or (4) of that Order, the supplier would not have had to make that supply;</p></content></level><level class="para1" eId="schedule-8-paragraph-44-1-b"><num>(b)</num><content><p>wages or salary arising under a contract of employment;</p></content></level><level class="para1" eId="schedule-8-paragraph-44-1-c"><num>(c)</num><content><p>other debts or other liabilities apart from the monitor’s remuneration or expenses;</p></content></level><level class="para1" eId="schedule-8-paragraph-44-1-d"><num>(d)</num><content><p>the monitor’s remuneration or expenses.</p></content></level></subparagraph><subparagraph eId="schedule-8-paragraph-44-2"><num>(2)</num><content><p>In this paragraph “wages or salary” has the same meaning as in Article <ref href="#d25e7009">13D</ref> of the Insolvency (Northern Ireland) Order 1989.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Priority of moratorium debts etc in subsequent administration</heading><paragraph eId="schedule-8-paragraph-45" class="schProv1"><num>45</num><subparagraph eId="schedule-8-paragraph-45-1"><num>(1)</num><intro><p>Where paragraph 65A(1) of Schedule B1 to the Insolvency (Northern Ireland) Order 1989 applies, the moratorium debts and pre-moratorium debts mentioned in paragraph 65A(2) of that Schedule are payable in the following order of priority—</p></intro><level class="para1" eId="schedule-8-paragraph-45-1-a"><num>(a)</num><content><p>amounts payable in respect of goods or services supplied during the moratorium under a contract where, but for Article 197B(3) or (4) of that Order, the supplier would not have had to make that supply;</p></content></level><level class="para1" eId="schedule-8-paragraph-45-1-b"><num>(b)</num><content><p>wages or salary arising under a contract of employment;</p></content></level><level class="para1" eId="schedule-8-paragraph-45-1-c"><num>(c)</num><content><p>other debts or other liabilities apart from the monitor’s remuneration or expenses;</p></content></level><level class="para1" eId="schedule-8-paragraph-45-1-d"><num>(d)</num><content><p>the monitor’s remuneration or expenses.</p></content></level></subparagraph><subparagraph eId="schedule-8-paragraph-45-2"><num>(2)</num><content><p>In this paragraph “wages or salary” has the same meaning as in Article <ref href="#d25e7009">13D</ref> of the Insolvency (Northern Ireland) Order 1989.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Prescribed format of documents</heading><paragraph eId="schedule-8-paragraph-46" class="schProv1"><num>46</num><subparagraph eId="schedule-8-paragraph-46-1"><num>(1)</num><content><p>Rule 12.04 of the Insolvency Rules applies to applications and statements referred to in Part 1A of the Insolvency (Northern Ireland) Order 1989 as it applies to notices under that Order.</p></content></subparagraph><subparagraph eId="schedule-8-paragraph-46-2"><num>(2)</num><content><p>The requirement in Rule 12.04 that a notice, application or statement required or authorised by or under the Order or the Insolvency Rules must be in writing is satisfied if the notice, application or statement is in electronic form.</p></content></subparagraph><subparagraph eId="schedule-8-paragraph-46-3"><num>(3)</num><content><p>But sub-paragraph (2) does not apply in relation to the filing of a notice, application or statement with the High Court.</p></content></subparagraph><subparagraph eId="schedule-8-paragraph-46-4"><num>(4)</num><intro><p>A document in electronic form must be capable of being—</p></intro><level class="para1" eId="schedule-8-paragraph-46-4-a"><num>(a)</num><content><p>read by the recipient in electronic form, and</p></content></level><level class="para1" eId="schedule-8-paragraph-46-4-b"><num>(b)</num><content><p>reproduced by the recipient in hard-copy form.</p></content></level></subparagraph></paragraph><paragraph eId="schedule-8-paragraph-47" class="schProv1"><num>47</num><subparagraph eId="schedule-8-paragraph-47-1"><num>(1)</num><content><p>This paragraph applies where a provision of this Part of this Schedule sets out requirements as to the contents of a document.</p></content></subparagraph><subparagraph eId="schedule-8-paragraph-47-2"><num>(2)</num><content><p>Any title required by the provision must appear at the beginning of the document.</p></content></subparagraph><subparagraph eId="schedule-8-paragraph-47-3"><num>(3)</num><content><p>Any other contents required by the provision (or provisions where more than one applies to a particular document) must be provided in the order listed in the provision (or provisions) or in another order which the maker of the document considers would be convenient for the intended recipient.</p></content></subparagraph></paragraph><paragraph eId="schedule-8-paragraph-48" class="schProv1"><num>48</num><intro><p>Where a provision of this Part of this Schedule sets out the required contents of a document, the document may depart from the required contents if—</p></intro><level class="para1" eId="schedule-8-paragraph-48-a"><num>(a)</num><content><p>the circumstances require such a departure (including where the requirement is not applicable in the particular case), or</p></content></level><level class="para1" eId="schedule-8-paragraph-48-b"><num>(b)</num><content><p>the departure (whether or not intentional) is immaterial.</p></content></level></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Authentication of applications, notices and statements</heading><paragraph eId="schedule-8-paragraph-49" class="schProv1"><num>49</num><subparagraph eId="schedule-8-paragraph-49-1"><num>(1)</num><content><p>This paragraph sets out how an application, notice or statement is to be authenticated for the purposes of this Part of this Schedule.</p></content></subparagraph><subparagraph eId="schedule-8-paragraph-49-2"><num>(2)</num><intro><p>An application, notice or statement in electronic form is authenticated—</p></intro><level class="para1" eId="schedule-8-paragraph-49-2-a"><num>(a)</num><content><p>if the identity of the sender is confirmed in a manner specified by the recipient, or</p></content></level><level class="para1" eId="schedule-8-paragraph-49-2-b"><num>(b)</num><content><p>where the recipient has not so specified, if the communication contains or is accompanied by a statement of the identity of the sender and the recipient has no reason to doubt the truth of that statement.</p></content></level></subparagraph><subparagraph eId="schedule-8-paragraph-49-3"><num>(3)</num><content><p>An application, notice or statement in hard-copy form is authenticated if it is signed.</p></content></subparagraph><subparagraph eId="schedule-8-paragraph-49-4"><num>(4)</num><intro><p>If an application, notice or statement is authenticated by the signature of an individual on behalf of—</p></intro><level class="para1" eId="schedule-8-paragraph-49-4-a"><num>(a)</num><content><p>a body of persons, the document must also state the position of that individual in relation to the body;</p></content></level><level class="para1" eId="schedule-8-paragraph-49-4-b"><num>(b)</num><content><p>a body corporate of which the individual is the sole member, the document must also state that fact.</p></content></level></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Modifications to the Insolvency Rules</heading><paragraph eId="schedule-8-paragraph-50" class="schProv1"><num>50</num><subparagraph eId="schedule-8-paragraph-50-1"><num>(1)</num><intro><p>For the purposes of proceedings under Part 1A of the Insolvency (Northern Ireland) Order 1989 and proceedings under this Part of this Schedule the Insolvency Rules have effect with—</p></intro><level class="para1" eId="schedule-8-paragraph-50-1-a"><num>(a)</num><content><p>the modifications set out in sub-paragraphs <ref href="#schedule-8-paragraph-50-3">(3)</ref> to <ref href="#schedule-8-paragraph-50-13">(13)</ref>, and</p></content></level><level class="para1" eId="schedule-8-paragraph-50-1-b"><num>(b)</num><content><p>any other necessary modifications.</p></content></level></subparagraph><subparagraph eId="schedule-8-paragraph-50-2"><num>(2)</num><intro><p>Sub-paragraph (1)(b) is subject to—</p></intro><level class="para1" eId="schedule-8-paragraph-50-2-a"><num>(a)</num><content><p>paragraphs 23 to 30 and 46 of this Schedule;</p></content></level><level class="para1" eId="schedule-8-paragraph-50-2-b"><num>(b)</num><content><p>any modifications set out in an order under paragraph 43 of this Schedule.</p></content></level></subparagraph><subparagraph eId="schedule-8-paragraph-50-3"><num>(3)</num><content><p>Rule 0.2 has effect as if, in the definition of “insolvency proceedings”, after “the Order” there were inserted “, Part 3 of Schedule 8 to the Corporate Insolvency and Governance Act 2020”.</p></content></subparagraph><subparagraph eId="schedule-8-paragraph-50-4"><num>(4)</num><content><p>Rule 7.01 has effect as if for “Parts II to VII of the Order” there were substituted “Part 1A of the Order or Part 3 of Schedule 8 to the Corporate Insolvency and Governance Act 2020”.</p></content></subparagraph><subparagraph eId="schedule-8-paragraph-50-5"><num>(5)</num><content><p>Rule 7.07(1)(a) has effect as if after “the Order” there were inserted “or Part 3 of Schedule 8 to the Corporate Insolvency and Governance Act 2020”.</p></content></subparagraph><subparagraph eId="schedule-8-paragraph-50-6"><num>(6)</num><content><p>Rule 7.08 has effect in relation to a regulated company (within the meaning of Article 13H of the Insolvency (Northern Ireland) Order 1989) as if it also required the application to be served on the appropriate regulator (within the meaning of that Article).</p></content></subparagraph><subparagraph eId="schedule-8-paragraph-50-7"><num>(7)</num><content><p><mod>Rule 7.12(1)(b) has effect as if after sub-paragraph (v) there were inserted—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="rule" ukl:Context="main" ukl:Format="double"><level class="para1"><num>(vi)</num><content><p>a monitor in relation to a moratorium.</p></content></level></quotedStructure></mod></p></content></subparagraph><subparagraph eId="schedule-8-paragraph-50-8"><num>(8)</num><intro><p>Rule 7.13B has effect as if—</p></intro><level class="para1" eId="schedule-8-paragraph-50-8-a"><num>(a)</num><content><p>the references to an office-holder included a monitor in relation to a moratorium, and</p></content></level><level class="para1" eId="schedule-8-paragraph-50-8-b"><num>(b)</num><content><p><mod>after paragraph (2)(d) there were inserted “, or<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="rule" ukl:Context="main" ukl:Format="double"><level class="para1"><num>(e)</num><content><p>monitor in relation to a moratorium.</p></content></level></quotedStructure></mod></p></content></level></subparagraph><subparagraph eId="schedule-8-paragraph-50-9"><num>(9)</num><content><p><mod>Rule 7.13C has effect as if after each of paragraph (2)(f) and (3)(f) there were inserted <quotedText startQuote="“">; and</quotedText><quotedStructure endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="rule" ukl:Context="main" ukl:Format="double"><level class="para1"><num>(g)</num><content><p>Article 13EE (replacement of monitor or appointment of additional monitor).</p></content></level></quotedStructure></mod></p></content></subparagraph><subparagraph eId="schedule-8-paragraph-50-10"><num>(10)</num><content><p>Rule 7.36(2) has effect as if it required the applicant to serve a sealed copy of the application on the monitor and the company to which the moratorium relates.</p></content></subparagraph><subparagraph eId="schedule-8-paragraph-50-11"><num>(11)</num><content><p>Omit Rules 7.07A and 7.08A.</p></content></subparagraph><subparagraph eId="schedule-8-paragraph-50-12"><num>(12)</num><content><p>Rule 7.27 has effect as if paragraph (2)(a) included a reference to proceedings under Part 1A of the Insolvency (Northern Ireland) Order 1989 or this Part of this Schedule.</p></content></subparagraph><subparagraph eId="schedule-8-paragraph-50-13"><num>(13)</num><content><p><mod>After Rule 12.23 insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="rule" ukl:Context="main" ukl:Format="double"><rule><heading>Court orders</heading><num>12.24.</num><content><p>Notwithstanding any requirement in these Rules as to the contents of a court order the court may make such other order or in such form as the court thinks fit.</p></content></rule></quotedStructure></mod></p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Identification details for a company</heading><paragraph eId="schedule-8-paragraph-51" class="schProv1"><num>51</num><subparagraph eId="schedule-8-paragraph-51-1"><num>(1)</num><intro><p>Where a provision of this Part of this Schedule requires a document to contain identification details for a company that is registered under the Companies Act 2006 in Northern Ireland, the following information must be given—</p></intro><level class="para1" eId="schedule-8-paragraph-51-1-a"><num>(a)</num><content><p>the company’s registered name;</p></content></level><level class="para1" eId="schedule-8-paragraph-51-1-b"><num>(b)</num><content><p>its registered number.</p></content></level></subparagraph><subparagraph eId="schedule-8-paragraph-51-2"><num>(2)</num><intro><p>Where a provision of this Part of this Schedule requires a document to contain identification details for a company that has registered particulars under section 1046(1) of the Companies Act 2006 (registered overseas companies), the following information must be given—</p></intro><level class="para1" eId="schedule-8-paragraph-51-2-a"><num>(a)</num><content><p>the name registered by the company under section 1047 of that Act,</p></content></level><level class="para1" eId="schedule-8-paragraph-51-2-b"><num>(b)</num><content><p>the number under which it is registered, and</p></content></level><level class="para1" eId="schedule-8-paragraph-51-2-c"><num>(c)</num><content><p>the country or territory in which it is incorporated.</p></content></level></subparagraph><subparagraph eId="schedule-8-paragraph-51-3"><num>(3)</num><intro><p>Where a provision of this Part of this Schedule requires a document to contain identification details for an unregistered company that does not come within sub-paragraph (2) the following information must be given—</p></intro><level class="para1" eId="schedule-8-paragraph-51-3-a"><num>(a)</num><content><p>the company’s name, and</p></content></level><level class="para1" eId="schedule-8-paragraph-51-3-b"><num>(b)</num><content><p>the postal address of any principal place of business.</p></content></level></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Contact details of a monitor or other office-holder</heading><paragraph eId="schedule-8-paragraph-52" class="schProv1"><num>52</num><intro><p>Where a provision of this Part of this Schedule requires a document to contain contact details of a monitor or other office-holder, the following information must be given—</p></intro><level class="para1" eId="schedule-8-paragraph-52-a"><num>(a)</num><content><p>a postal address for the monitor or office-holder, and</p></content></level><level class="para1" eId="schedule-8-paragraph-52-b"><num>(b)</num><content><p>either an email address, or a telephone number, through which the monitor may be contacted.</p></content></level></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>“The Insolvency Rules”</heading><paragraph eId="schedule-8-paragraph-53" class="schProv1"><num>53</num><content><p>In this Part of this Schedule “the Insolvency Rules” means the <ref eId="c00098" href="http://www.legislation.gov.uk/id/nisr/1991/364">Insolvency Rules (Northern Ireland) 1991 (S.R. (N.I.) 1991/364)</ref>.</p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Interpretation: general</heading><paragraph eId="schedule-8-paragraph-54" class="schProv1"><num>54</num><content><p>Expressions used in this Part of this Schedule are to be construed as if this Part of this Schedule were contained in Part 1A of the Insolvency (Northern Ireland) Order 1989.</p></content></paragraph></hcontainer></part>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1"><num>(e)</num><content><p>winding up under Part 5 or 6 of that Order;</p></content></level>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-8-paragraph-37" class="schProv1"><num>37</num><subparagraph eId="schedule-8-paragraph-37-1"><num>(1)</num><content><p>A notice under Article <ref href="#d25e7730">13DF</ref><ref href="#d25e7734">(1)</ref> of the Insolvency (Northern Ireland) Order 1989 must be given before the period of 3 days ending with the day on which the step mentioned there is taken.</p></content></subparagraph><subparagraph eId="schedule-8-paragraph-37-2"><num>(2)</num><content><p>A notice under Article <ref href="#d25e7730">13DF</ref><ref href="#d25e7758">(2)</ref> of the Insolvency (Northern Ireland) Order 1989 must be given within the period of 3 days beginning with the day on which the duty to give the notice arises.</p></content></subparagraph></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-8-paragraph-40" class="schProv1"><num>40</num><subparagraph eId="schedule-8-paragraph-40-1"><num>(1)</num><intro><p>A statement under Article <ref href="#d25e8729">13EE</ref><ref href="#d25e8757">(4)</ref> of the Insolvency (Northern Ireland) Order 1989 must be headed “Proposed monitor’s statement and consent to act” and must contain the following—</p></intro><level class="para1" eId="schedule-8-paragraph-40-1-a"><num>(a)</num><content><p>a certificate that the proposed monitor is qualified to act as an insolvency practitioner in relation to the company,</p></content></level><level class="para1" eId="schedule-8-paragraph-40-1-b"><num>(b)</num><content><p>the proposed monitor’s IP number,</p></content></level><level class="para1" eId="schedule-8-paragraph-40-1-c"><num>(c)</num><content><p>the name of the relevant recognised professional body which is the source of the proposed monitor’s authorisation to act in relation to the company, and</p></content></level><level class="para1" eId="schedule-8-paragraph-40-1-d"><num>(d)</num><content><p>a statement that the proposed monitor consents to act as monitor in relation to the company.</p></content></level></subparagraph><subparagraph eId="schedule-8-paragraph-40-2"><num>(2)</num><content><p>The statement must be made within the period of 5 days ending with the day on which it is filed with the High Court.</p></content></subparagraph><subparagraph eId="schedule-8-paragraph-40-3"><num>(3)</num><content><p>In this paragraph “IP number” means the identifying number or reference issued to the insolvency practitioner by a professional body recognised under Article 350 of the Insolvency (Northern Ireland) Order 1989.</p></content></subparagraph></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-8-paragraph-43" class="schProv1"><num>43</num><intro><p>Where the High Court makes an order by virtue of Article 13FB(4)(c) of the Insolvency (Northern Ireland) Order 1989 requiring the summoning of a meeting of a company’s creditors, the following provisions of the Insolvency Rules apply for the purposes of that meeting to the extent set out in the Court’s order and subject to any modifications set out in the Court’s order—</p></intro><level class="para1" eId="schedule-8-paragraph-43-a"><num>(a)</num><content><p>Rules 4.061 to 4.077 (meetings);</p></content></level><level class="para1" eId="schedule-8-paragraph-43-b"><num>(b)</num><content><p>Part 8 (proxies);</p></content></level><level class="para1" eId="schedule-8-paragraph-43-c"><num>(c)</num><content><p>Rule 12.05 (quorum).</p></content></level></paragraph>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="schedule-8-paragraph-43-a"><num>(a)</num><content><p>Rules 4.061 to 4.077 (meetings);</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="schedule-8-paragraph-43-b"><num>(b)</num><content><p>Part 8 (proxies);</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="schedule-8-paragraph-43-c"><num>(c)</num><content><p>Rule 12.05 (quorum).</p></content></level>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-8-paragraph-46" class="schProv1"><num>46</num><subparagraph eId="schedule-8-paragraph-46-1"><num>(1)</num><content><p>Rule 12.04 of the Insolvency Rules applies to applications and statements referred to in Part 1A of the Insolvency (Northern Ireland) Order 1989 as it applies to notices under that Order.</p></content></subparagraph><subparagraph eId="schedule-8-paragraph-46-2"><num>(2)</num><content><p>The requirement in Rule 12.04 that a notice, application or statement required or authorised by or under the Order or the Insolvency Rules must be in writing is satisfied if the notice, application or statement is in electronic form.</p></content></subparagraph><subparagraph eId="schedule-8-paragraph-46-3"><num>(3)</num><content><p>But sub-paragraph (2) does not apply in relation to the filing of a notice, application or statement with the High Court.</p></content></subparagraph><subparagraph eId="schedule-8-paragraph-46-4"><num>(4)</num><intro><p>A document in electronic form must be capable of being—</p></intro><level class="para1" eId="schedule-8-paragraph-46-4-a"><num>(a)</num><content><p>read by the recipient in electronic form, and</p></content></level><level class="para1" eId="schedule-8-paragraph-46-4-b"><num>(b)</num><content><p>reproduced by the recipient in hard-copy form.</p></content></level></subparagraph></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-8-paragraph-51" class="schProv1"><num>51</num><subparagraph eId="schedule-8-paragraph-51-1"><num>(1)</num><intro><p>Where a provision of this Part of this Schedule requires a document to contain identification details for a company that is registered under the Companies Act 2006 in Northern Ireland, the following information must be given—</p></intro><level class="para1" eId="schedule-8-paragraph-51-1-a"><num>(a)</num><content><p>the company’s registered name;</p></content></level><level class="para1" eId="schedule-8-paragraph-51-1-b"><num>(b)</num><content><p>its registered number.</p></content></level></subparagraph><subparagraph eId="schedule-8-paragraph-51-2"><num>(2)</num><intro><p>Where a provision of this Part of this Schedule requires a document to contain identification details for a company that has registered particulars under section 1046(1) of the Companies Act 2006 (registered overseas companies), the following information must be given—</p></intro><level class="para1" eId="schedule-8-paragraph-51-2-a"><num>(a)</num><content><p>the name registered by the company under section 1047 of that Act,</p></content></level><level class="para1" eId="schedule-8-paragraph-51-2-b"><num>(b)</num><content><p>the number under which it is registered, and</p></content></level><level class="para1" eId="schedule-8-paragraph-51-2-c"><num>(c)</num><content><p>the country or territory in which it is incorporated.</p></content></level></subparagraph><subparagraph eId="schedule-8-paragraph-51-3"><num>(3)</num><intro><p>Where a provision of this Part of this Schedule requires a document to contain identification details for an unregistered company that does not come within sub-paragraph (2) the following information must be given—</p></intro><level class="para1" eId="schedule-8-paragraph-51-3-a"><num>(a)</num><content><p>the company’s name, and</p></content></level><level class="para1" eId="schedule-8-paragraph-51-3-b"><num>(b)</num><content><p>the postal address of any principal place of business.</p></content></level></subparagraph></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-8-paragraph-54" class="schProv1"><num>54</num><content><p>Expressions used in this Part of this Schedule are to be construed as if this Part of this Schedule were contained in Part 1A of the Insolvency (Northern Ireland) Order 1989.</p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-14-paragraph-3" class="schProv1"><num>3</num><subparagraph eId="schedule-14-paragraph-3-1"><num>(1)</num><content><p>This paragraph applies to a meeting within sub-paragraph (2) that is held during the relevant period.</p></content></subparagraph><subparagraph eId="schedule-14-paragraph-3-2"><num>(2)</num><intro><p>A meeting is within this sub-paragraph if it is—</p></intro><level class="para1" eId="schedule-14-paragraph-3-2-a"><num>(a)</num><content><p>a general meeting of a qualifying body,</p></content></level><level class="para1" eId="schedule-14-paragraph-3-2-b"><num>(b)</num><content><p>a meeting of any class of members of a qualifying body, or</p></content></level><level class="para1" eId="schedule-14-paragraph-3-2-c"><num>(c)</num><content><p>a meeting of delegates appointed by members of a qualifying body.</p></content></level></subparagraph><subparagraph eId="schedule-14-paragraph-3-3"><num>(3)</num><content><p>The meeting need not be held at any particular place.</p></content></subparagraph><subparagraph eId="schedule-14-paragraph-3-4"><num>(4)</num><content><p>The meeting may be held, and any votes may be permitted to be cast, by electronic means or any other means.</p></content></subparagraph><subparagraph eId="schedule-14-paragraph-3-5"><num>(5)</num><content><p>The meeting may be held without any number of those participating in the meeting being together at the same place.</p></content></subparagraph><subparagraph eId="schedule-14-paragraph-3-6"><num>(6)</num><intro><p>A member of the qualifying body does not have a right—</p></intro><level class="para1" eId="schedule-14-paragraph-3-6-a"><num>(a)</num><content><p>to attend the meeting in person,</p></content></level><level class="para1" eId="schedule-14-paragraph-3-6-b"><num>(b)</num><content><p>to participate in the meeting other than by voting, or</p></content></level><level class="para1" eId="schedule-14-paragraph-3-6-c"><num>(c)</num><content><p>to vote by particular means.</p></content></level></subparagraph><subparagraph eId="schedule-14-paragraph-3-7"><num>(7)</num><content><p>The provisions of any enactment relating to meetings within sub-paragraph (2) have effect subject to this paragraph.</p></content></subparagraph><subparagraph eId="schedule-14-paragraph-3-8"><num>(8)</num><content><p>The provisions of the constitution or rules of the qualifying body have effect subject to this paragraph.</p></content></subparagraph></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-14-paragraph-6" class="schProv1"><num>6</num><subparagraph eId="schedule-14-paragraph-6-1"><num>(1)</num><content><p>The appropriate national authority may by regulations provide for any provision that would (but for the regulations) have the effect mentioned in sub-paragraph (2) to be read as if instead it had (and always had had) the effect mentioned in sub-paragraph (3).</p></content></subparagraph><subparagraph eId="schedule-14-paragraph-6-2"><num>(2)</num><content><p>The effect is that of imposing on a qualifying body a duty to hold a general meeting as its annual general meeting during a period (“the overlapping period”) that overlaps to any extent with the relevant period.</p></content></subparagraph><subparagraph eId="schedule-14-paragraph-6-3"><num>(3)</num><intro><p>The effect is that of imposing on the qualifying body a duty to hold a general meeting as its annual general meeting during a period that—</p></intro><level class="para1" eId="schedule-14-paragraph-6-3-a"><num>(a)</num><content><p>begins with the overlapping period, and</p></content></level><level class="para1" eId="schedule-14-paragraph-6-3-b"><num>(b)</num><content><p>ends with such period immediately following the end of the overlapping period as is specified in the regulations.</p></content></level></subparagraph><subparagraph eId="schedule-14-paragraph-6-4"><num>(4)</num><content><p>A period specified in regulations for the purposes of sub-paragraph (3)(b) must not exceed 8 months.</p></content></subparagraph><subparagraph eId="schedule-14-paragraph-6-5"><num>(5)</num><intro><p>Regulations under this paragraph may—</p></intro><level class="para1" eId="schedule-14-paragraph-6-5-a"><num>(a)</num><content><p>make different provision for different purposes;</p></content></level><level class="para1" eId="schedule-14-paragraph-6-5-b"><num>(b)</num><content><p>make consequential, incidental or supplementary provision (including provision disapplying or modifying a provision of an enactment);</p></content></level><level class="para1" eId="schedule-14-paragraph-6-5-c"><num>(c)</num><content><p>make transitional provision or savings.</p></content></level></subparagraph><subparagraph eId="schedule-14-paragraph-6-6"><num>(6)</num><content><p>In sub-paragraph (1) the reference to “any provision” is a reference to any provision of an enactment or of the constitution or rules of a qualifying body.</p></content></subparagraph><subparagraph eId="schedule-14-paragraph-6-7"><num>(7)</num><content><p>In this paragraph “the appropriate national authority” has the same meaning as in paragraph 4.</p></content></subparagraph><subparagraph eId="schedule-14-paragraph-6-8"><num>(8)</num><content><p>In the application of this paragraph in relation to a public company, the references to a duty to hold a general meeting as its annual general meeting are to be read as including a reference to a duty to hold an accounts meeting.</p></content></subparagraph></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-14-paragraph-9" class="schProv1"><num>9</num><subparagraph eId="schedule-14-paragraph-9-1"><num>(1)</num><content><p>Regulations made by the Department for the Economy in Northern Ireland under paragraph <ref href="#schedule-14-paragraph-2-2-a">2(2)(a)</ref> of this Schedule are subject to negative resolution within the meaning of section 41(6) of the <ref eId="c00148" href="http://www.legislation.gov.uk/id/apni/1954/33">Interpretation Act (Northern Ireland) 1954 (c. 33 (N.I.))</ref>.</p></content></subparagraph><subparagraph eId="schedule-14-paragraph-9-2"><num>(2)</num><content><p>Regulations made by the Department for the Economy in Northern Ireland under paragraph <ref href="#schedule-14-paragraph-2-2-b">2(2)(b)</ref>, <ref href="#schedule-14-paragraph-4">4</ref> or <ref href="#schedule-14-paragraph-6">6</ref> of this Schedule must be laid before the Assembly as soon as reasonably practicable after being made.</p></content></subparagraph><subparagraph eId="schedule-14-paragraph-9-3"><num>(3)</num><content><p>Sub-paragraph <ref href="#schedule-14-paragraph-9-2">(2)</ref> does not apply if a draft of the regulations has been laid before, and approved by a resolution of, the Assembly.</p></content></subparagraph><subparagraph eId="schedule-14-paragraph-9-4"><num>(4)</num><content><p>Section 41(3) of the Interpretation Act (Northern Ireland) 1954 applies for the purposes of sub-paragraph <ref href="#schedule-14-paragraph-9-3">(3)</ref> in relation to the laying of a draft as it applies in relation to the laying of a statutory document under an enactment.</p></content></subparagraph><subparagraph eId="schedule-14-paragraph-9-5"><num>(5)</num><content><p>Regulations laid before the Assembly by virtue of sub-paragraph <ref href="#schedule-14-paragraph-9-2">(2)</ref> cease to have effect at the end of the period of 40 days beginning with the day on which the regulations are made, unless during that period the regulations are approved by a resolution of the Assembly.</p></content></subparagraph><subparagraph eId="schedule-14-paragraph-9-6"><num>(6)</num><intro><p>In calculating the period of 40 days, no account is to be taken of any time during which the Assembly is—</p></intro><level class="para1" eId="schedule-14-paragraph-9-6-a"><num>(a)</num><content><p>dissolved,</p></content></level><level class="para1" eId="schedule-14-paragraph-9-6-b"><num>(b)</num><content><p>in recess for more than 4 days, or</p></content></level><level class="para1" eId="schedule-14-paragraph-9-6-c"><num>(c)</num><content><p>adjourned for more than 6 days.</p></content></level></subparagraph><subparagraph eId="schedule-14-paragraph-9-7"><num>(7)</num><intro><p>Where regulations cease to have effect as a result of sub-paragraph <ref href="#schedule-14-paragraph-9-5">(5)</ref> that does not—</p></intro><level class="para1" eId="schedule-14-paragraph-9-7-a"><num>(a)</num><content><p>affect anything previously done under or by virtue of the regulations, or</p></content></level><level class="para1" eId="schedule-14-paragraph-9-7-b"><num>(b)</num><content><p>prevent the making of new regulations.</p></content></level></subparagraph><subparagraph eId="schedule-14-paragraph-9-8"><num>(8)</num><content><p>A power of the Department for the Economy in Northern Ireland to make regulations under this Schedule is exercisable by statutory rule for the purposes of the Statutory Rules (Northern Ireland) Order 1979 (<ref eId="c00149" href="http://www.legislation.gov.uk/id/nisi/1979/1573">S.I. 1979/1573 (N.I. 12)</ref>).</p></content></subparagraph><subparagraph eId="schedule-14-paragraph-9-9"><num>(9)</num><content><p>In this paragraph “the Assembly” means the Northern Ireland Assembly.</p></content></subparagraph></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-8-paragraph-47" class="schProv1"><num>47</num><subparagraph eId="schedule-8-paragraph-47-1"><num>(1)</num><content><p>This paragraph applies where a provision of this Part of this Schedule sets out requirements as to the contents of a document.</p></content></subparagraph><subparagraph eId="schedule-8-paragraph-47-2"><num>(2)</num><content><p>Any title required by the provision must appear at the beginning of the document.</p></content></subparagraph><subparagraph eId="schedule-8-paragraph-47-3"><num>(3)</num><content><p>Any other contents required by the provision (or provisions where more than one applies to a particular document) must be provided in the order listed in the provision (or provisions) or in another order which the maker of the document considers would be convenient for the intended recipient.</p></content></subparagraph></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-8-paragraph-48" class="schProv1"><num>48</num><intro><p>Where a provision of this Part of this Schedule sets out the required contents of a document, the document may depart from the required contents if—</p></intro><level class="para1" eId="schedule-8-paragraph-48-a"><num>(a)</num><content><p>the circumstances require such a departure (including where the requirement is not applicable in the particular case), or</p></content></level><level class="para1" eId="schedule-8-paragraph-48-b"><num>(b)</num><content><p>the departure (whether or not intentional) is immaterial.</p></content></level></paragraph>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="schedule-8-paragraph-48-a"><num>(a)</num><content><p>the circumstances require such a departure (including where the requirement is not applicable in the particular case), or</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="schedule-8-paragraph-48-b"><num>(b)</num><content><p>the departure (whether or not intentional) is immaterial.</p></content></level>
<part xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-8-part-4"><num>PART 4</num><heading>Entities other than companies</heading><paragraph eId="schedule-8-paragraph-55" class="schProv1"><num>55</num><content><p>Regulations under section 14(1) of the Limited Liability Partnership Act 2000 may make provision applying or incorporating provision made by or under this Schedule, with such modifications as appear appropriate, in relation to a limited liability partnership registered in Northern Ireland.</p></content></paragraph><paragraph eId="schedule-8-paragraph-56" class="schProv1"><num>56</num><intro><p>An order under Article 10(2) of the Insolvency (Northern Ireland) Order 2005 may provide for provision made by or under this Schedule to apply (with or without modification) in relation to—</p></intro><level class="para1" eId="schedule-8-paragraph-56-a"><num>(a)</num><content><p>a registered society within the meaning of the Co-operative and Community Benefit Societies Act (Northern Ireland) 1969, or</p></content></level><level class="para1" eId="schedule-8-paragraph-56-b"><num>(b)</num><content><p>a credit union within the meaning of the Credit Unions (Northern Ireland) Order 1985.</p></content></level></paragraph></part>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-8-paragraph-55" class="schProv1"><num>55</num><content><p>Regulations under section 14(1) of the Limited Liability Partnership Act 2000 may make provision applying or incorporating provision made by or under this Schedule, with such modifications as appear appropriate, in relation to a limited liability partnership registered in Northern Ireland.</p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-8-paragraph-56" class="schProv1"><num>56</num><intro><p>An order under Article 10(2) of the Insolvency (Northern Ireland) Order 2005 may provide for provision made by or under this Schedule to apply (with or without modification) in relation to—</p></intro><level class="para1" eId="schedule-8-paragraph-56-a"><num>(a)</num><content><p>a registered society within the meaning of the Co-operative and Community Benefit Societies Act (Northern Ireland) 1969, or</p></content></level><level class="para1" eId="schedule-8-paragraph-56-b"><num>(b)</num><content><p>a credit union within the meaning of the Credit Unions (Northern Ireland) Order 1985.</p></content></level></paragraph>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="schedule-8-paragraph-56-a"><num>(a)</num><content><p>a registered society within the meaning of the Co-operative and Community Benefit Societies Act (Northern Ireland) 1969, or</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="schedule-8-paragraph-56-b"><num>(b)</num><content><p>a credit union within the meaning of the Credit Unions (Northern Ireland) Order 1985.</p></content></level>
<hcontainer xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" xmlns:default="http://www.w3.org/1999/xhtml" xmlns:fo="http://www.w3.org/1999/XSL/Format" name="schedule" eId="schedule-9"><num>SCHEDULE 9<authorialNote class="referenceNote"><p>Section 7</p></authorialNote></num><heading>Arrangements and reconstructions for companies in financial difficulty</heading><part eId="schedule-9-part-1"><num>PART 1</num><heading>Main provisions</heading><paragraph eId="schedule-9-paragraph-1" class="schProv1"><num>1</num><content><p><mod>In the Companies Act 2006, after Part 26 insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="double"><part><num>PART 26A</num><heading>Arrangements and reconstructions: companies in financial difficulty</heading><hcontainer name="crossheading" ukl:Name="Pblock"><heading>Application of this Part</heading><section><num>901A</num><heading>Application of this Part</heading><subsection><num>(1)</num><content><p>The provisions of this Part apply where conditions A and B are met in relation to a company.</p></content></subsection><subsection><num>(2)</num><content><p>Condition A is that the company has encountered, or is likely to encounter, financial difficulties that are affecting, or will or may affect, its ability to carry on business as a going concern.</p></content></subsection><subsection><num>(3)</num><intro><p>Condition B is that—</p></intro><level class="para1"><num>(a)</num><intro><p>a compromise or arrangement is proposed between the company and—</p></intro><level class="para2"><num>(i)</num><content><p>its creditors, or any class of them, or</p></content></level><level class="para2"><num>(ii)</num><content><p>its members, or any class of them, and</p></content></level></level><level class="para1"><num>(b)</num><content><p>the purpose of the compromise or arrangement is to eliminate, reduce or prevent, or mitigate the effect of, any of the financial difficulties mentioned in subsection (2).</p></content></level></subsection><subsection><num>(4)</num><intro><p>In this Part—</p></intro><hcontainer name="definition"><content><p>“arrangement” includes a reorganisation of the company’s share capital by the consolidation of shares of different classes or by the division of shares into shares of different classes, or by both of those methods;</p></content></hcontainer><hcontainer name="definition"><intro><p>“company”—</p></intro><level class="para1"><num>(a)</num><content><p>in section 901J (powers of court to facilitate reconstruction or amalgamation) means a company within the meaning of this Act, and</p></content></level><level class="para1"><num>(b)</num><content><p>elsewhere in this Part means any company liable to be wound up under the Insolvency Act 1986 or the Insolvency (Northern Ireland) Order 1989 (<ref eId="c00099" href="http://www.legislation.gov.uk/id/nisi/1989/2405">S.I. 1989/2405 (N.I. 19)</ref>).</p></content></level></hcontainer></subsection><subsection><num>(5)</num><content><p>The provisions of this Part have effect subject to Part 27 (mergers and divisions of public companies) where that Part applies (see sections 902 and 903).</p></content></subsection></section><section><num>901B</num><heading>Power to exclude companies providing financial services, etc</heading><subsection><num>(1)</num><intro><p>The Secretary of State may by regulations provide that this Part does not apply—</p></intro><level class="para1"><num>(a)</num><content><p>where the company in respect of which a compromise or arrangement is proposed is an authorised person, or an authorised person of a specified description;</p></content></level><level class="para1"><num>(b)</num><intro><p>where—</p></intro><level class="para2"><num>(i)</num><content><p>a compromise or arrangement is proposed between a company, or a company of a specified description, and any creditors of the company, and</p></content></level><level class="para2"><num>(ii)</num><content><p>those creditors consist of or include creditors of a specified description.</p></content></level></level></subsection><subsection><num>(2)</num><intro><p>In this section—</p></intro><hcontainer name="definition"><content><p>“authorised person” has the same meaning as in the Financial Services and Markets Act 2000 (see section 31 of that Act);</p></content></hcontainer><hcontainer name="definition"><content><p>“specified” means specified in the regulations.</p></content></hcontainer></subsection><subsection><num>(3)</num><content><p>Regulations under this section are subject to affirmative resolution procedure.</p></content></subsection></section></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading>Meeting of creditors or members</heading><section><num>901C</num><heading>Court order for holding of meeting</heading><subsection><num>(1)</num><content><p>The court may, on an application under this subsection, order a meeting of the creditors or class of creditors, or of the members of the company or class of members (as the case may be), to be summoned in such manner as the court directs.</p></content></subsection><subsection><num>(2)</num><intro><p>An application under subsection (1) may be made by—</p></intro><level class="para1"><num>(a)</num><content><p>the company,</p></content></level><level class="para1"><num>(b)</num><content><p>any creditor or member of the company,</p></content></level><level class="para1"><num>(c)</num><content><p>if the company is being wound up, the liquidator, or</p></content></level><level class="para1"><num>(d)</num><content><p>if the company is in administration, the administrator.</p></content></level></subsection><subsection><num>(3)</num><content><p>Every creditor or member of the company whose rights are affected by the compromise or arrangement must be permitted to participate in a meeting ordered to be summoned under subsection (1).</p></content></subsection><subsection><num>(4)</num><content><p>But subsection (3) does not apply in relation to a class of creditors or members of the company if, on an application under this subsection, the court is satisfied that none of the members of that class has a genuine economic interest in the company.</p></content></subsection><subsection><num>(5)</num><content><p>An application under subsection (4) is to be made by the person who made the application under subsection (1) in respect of the compromise or arrangement.</p></content></subsection><subsection><num>(6)</num><content><p>Section 323 (representation of corporations at meetings) applies to a meeting of creditors under this section as to a meeting of the company (references to a member of the company being read as references to a creditor).</p></content></subsection><subsection><num>(7)</num><content><p>This section is subject to section 901H (moratorium debts, etc).</p></content></subsection></section><section><num>901D</num><heading>Statement to be circulated or made available</heading><subsection><num>(1)</num><intro><p>Where a meeting is summoned under section 901C—</p></intro><level class="para1"><num>(a)</num><content><p>every notice summoning the meeting that is sent to a creditor or member must be accompanied by a statement complying with this section, and</p></content></level><level class="para1"><num>(b)</num><intro><p>every notice summoning the meeting that is given by advertisement must either—</p></intro><level class="para2"><num>(i)</num><content><p>include such a statement, or</p></content></level><level class="para2"><num>(ii)</num><content><p>state where and how creditors or members entitled to attend the meeting may obtain copies of such a statement.</p></content></level></level></subsection><subsection><num>(2)</num><intro><p>The statement must—</p></intro><level class="para1"><num>(a)</num><content><p>explain the effect of the compromise or arrangement, and</p></content></level><level class="para1"><num>(b)</num><intro><p>in particular, state—</p></intro><level class="para2"><num>(i)</num><content><p>any material interests of the directors of the company (whether as directors or as members or as creditors of the company or otherwise), and</p></content></level><level class="para2"><num>(ii)</num><content><p>the effect on those interests of the compromise or arrangement, in so far as it is different from the effect on the like interests of other persons.</p></content></level></level></subsection><subsection><num>(3)</num><content><p>Where the compromise or arrangement affects the rights of debenture holders of the company, the statement must give the like explanation as respects the trustees of any deed for securing the issue of the debentures as it is required to give as respects the company’s directors.</p></content></subsection><subsection><num>(4)</num><content><p>Where a notice given by advertisement states that copies of an explanatory statement can be obtained by creditors or members entitled to attend the meeting, every such creditor or member is entitled, on making application in the manner indicated by the notice, to be provided by the company with a copy of the statement free of charge.</p></content></subsection><subsection><num>(5)</num><intro><p>If a company makes default in complying with any requirement of this section, an offence is committed by—</p></intro><level class="para1"><num>(a)</num><content><p>the company, and</p></content></level><level class="para1"><num>(b)</num><content><p>every officer of the company who is in default.</p></content></level><wrapUp><p>This is subject to subsection (7).</p></wrapUp></subsection><subsection><num>(6)</num><intro><p>For this purpose the following are treated as officers of the company—</p></intro><level class="para1"><num>(a)</num><content><p>a liquidator or administrator of the company, and</p></content></level><level class="para1"><num>(b)</num><content><p>a trustee of a deed for securing the issue of debentures of the company.</p></content></level></subsection><subsection><num>(7)</num><content><p>A person is not guilty of an offence under this section if the person shows that the default was due to the refusal of a director or trustee for debenture holders to supply the necessary particulars of the director’s or (as the case may be) the trustee’s interests.</p></content></subsection><subsection><num>(8)</num><intro><p>A person guilty of an offence under this section is liable—</p></intro><level class="para1"><num>(a)</num><content><p>on conviction on indictment, to a fine;</p></content></level><level class="para1"><num>(b)</num><content><p>on summary conviction in England and Wales, to a fine;</p></content></level><level class="para1"><num>(c)</num><content><p>on summary conviction in Scotland or Northern Ireland, to a fine not exceeding the statutory maximum.</p></content></level></subsection></section><section><num>901E</num><heading>Duty of directors and trustees to provide information</heading><subsection><num>(1)</num><intro><p>It is the duty of—</p></intro><level class="para1"><num>(a)</num><content><p>any director of the company, and</p></content></level><level class="para1"><num>(b)</num><content><p>any trustee for its debenture holders,</p></content></level><wrapUp><p>to give notice to the company of such matters relating to that director or trustee as may be necessary for the purposes of section 901D (explanatory statement to be circulated or made available).</p></wrapUp></subsection><subsection><num>(2)</num><content><p>Any person who makes default in complying with this section commits an offence.</p></content></subsection><subsection><num>(3)</num><content><p>A person guilty of an offence under this section is liable on summary conviction to a fine not exceeding level 3 on the standard scale.</p></content></subsection></section></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading>Court sanction for compromise or arrangement</heading><section><num>901F</num><heading>Court sanction for compromise or arrangement</heading><subsection><num>(1)</num><content><p>If a number representing 75% in value of the creditors or class of creditors or members or class of members (as the case may be), present and voting either in person or by proxy at the meeting summoned under section 901C, agree a compromise or arrangement, the court may, on an application under this section, sanction the compromise or arrangement.</p></content></subsection><subsection><num>(2)</num><intro><p>Subsection (1) is subject to—</p></intro><level class="para1"><num>(a)</num><content><p>section 901G (sanction for compromise or arrangement where one or more classes dissent), and</p></content></level><level class="para1"><num>(b)</num><content><p>section 901H (moratorium debts, etc).</p></content></level></subsection><subsection><num>(3)</num><intro><p>An application under this section may be made by—</p></intro><level class="para1"><num>(a)</num><content><p>the company,</p></content></level><level class="para1"><num>(b)</num><content><p>any creditor or member of the company,</p></content></level><level class="para1"><num>(c)</num><content><p>if the company is being wound up, the liquidator, or</p></content></level><level class="para1"><num>(d)</num><content><p>if the company is in administration, the administrator.</p></content></level></subsection><subsection><num>(4)</num><intro><p>Where the court makes an order under this section in relation to a company that is in administration or is being wound up, the court may by the order—</p></intro><level class="para1"><num>(a)</num><content><p>provide for the appointment of the administrator or liquidator to cease to have effect;</p></content></level><level class="para1"><num>(b)</num><content><p>stay or sist all proceedings in the administration or the winding up;</p></content></level><level class="para1"><num>(c)</num><content><p>impose any requirements with respect to the conduct of the administration or the winding up which the court thinks appropriate for facilitating the compromise or arrangement.</p></content></level></subsection><subsection><num>(5)</num><intro><p>A compromise or arrangement sanctioned by the court is binding—</p></intro><level class="para1"><num>(a)</num><content><p>on all creditors or the class of creditors or on the members or class of members (as the case may be), and</p></content></level><level class="para1"><num>(b)</num><content><p>on the company or, in the case of a company in the course of being wound up, the liquidator and contributories of the company.</p></content></level></subsection><subsection><num>(6)</num><intro><p>The court’s order has no effect until a copy of it has been—</p></intro><level class="para1"><num>(a)</num><content><p>in the case of an overseas company that is not required to register particulars under section 1046, published in the Gazette, or</p></content></level><level class="para1"><num>(b)</num><content><p>in any other case, delivered to the registrar.</p></content></level></subsection></section><section><num>901G</num><heading>Sanction for compromise or arrangement where one or more classes dissent</heading><subsection><num>(1)</num><content><p>This section applies if the compromise or arrangement is not agreed by a number representing at least 75% in value of a class of creditors or (as the case may be) of members of the company (“the dissenting class”), present and voting either in person or by proxy at the meeting summoned under section 901C.</p></content></subsection><subsection><num>(2)</num><content><p>If conditions A and B are met, the fact that the dissenting class has not agreed the compromise or arrangement does not prevent the court from sanctioning it under section 901F.</p></content></subsection><subsection><num>(3)</num><content><p>Condition A is that the court is satisfied that, if the compromise or arrangement were to be sanctioned under section 901F, none of the members of the dissenting class would be any worse off than they would be in the event of the relevant alternative (see subsection (4)).</p></content></subsection><subsection><num>(4)</num><content><p>For the purposes of this section “the relevant alternative” is whatever the court considers would be most likely to occur in relation to the company if the compromise or arrangement were not sanctioned under section 901F.</p></content></subsection><subsection><num>(5)</num><content><p>Condition B is that the compromise or arrangement has been agreed by a number representing 75% in value of a class of creditors or (as the case may be) of members, present and voting either in person or by proxy at the meeting summoned under section 901C, who would receive a payment, or have a genuine economic interest in the company, in the event of the relevant alternative.</p></content></subsection><subsection><num>(6)</num><intro><p>The Secretary of State may by regulations amend this section for the purpose of—</p></intro><level class="para1"><num>(a)</num><content><p>adding to the conditions that must be met for the purposes of this section;</p></content></level><level class="para1"><num>(b)</num><content><p>removing or varying any of those conditions.</p></content></level></subsection><subsection><num>(7)</num><content><p>Regulations under subsection (6) are subject to affirmative resolution procedure.</p></content></subsection></section></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading>Special cases</heading><section><num>901H</num><heading>Moratorium debts, etc</heading><subsection><num>(1)</num><intro><p>This section applies where—</p></intro><level class="para1"><num>(a)</num><content><p>an application under section 901C(1) in respect of a compromise or arrangement is made before the end of the period of 12 weeks beginning with the day after the end of any moratorium for the company under Part A1 of the Insolvency Act 1986 or Part 1A of the Insolvency (Northern Ireland) Order 1989 (<ref eId="c00100" href="http://www.legislation.gov.uk/id/nisi/1989/2405">S.I. 1989/2405 (N.I. 19)</ref>), and</p></content></level><level class="para1"><num>(b)</num><content><p>the creditors with whom the compromise or arrangement is proposed include any relevant creditors (see subsection (2)).</p></content></level></subsection><subsection><num>(2)</num><intro><p>In this section “relevant creditor” means—</p></intro><level class="para1"><num>(a)</num><content><p>a creditor in respect of a moratorium debt, or</p></content></level><level class="para1"><num>(b)</num><content><p>a creditor in respect of a priority pre-moratorium debt.</p></content></level></subsection><subsection><num>(3)</num><content><p>The relevant creditors may not participate in the meeting summoned under section 901C.</p></content></subsection><subsection><num>(4)</num><intro><p>For the purposes of section 901D (statement to be circulated or made available)—</p></intro><level class="para1"><num>(a)</num><content><p>the requirement in section 901D(1)(a) is to be read as including a requirement to send each relevant creditor a statement complying with section 901D;</p></content></level><level class="para1"><num>(b)</num><content><p>any reference to creditors entitled to attend the meeting summoned under section 901C includes a reference to relevant creditors.</p></content></level></subsection><subsection><num>(5)</num><content><p>The court may not sanction the compromise or arrangement under section 901F if it includes provision in respect of any relevant creditor who has not agreed to it.</p></content></subsection><subsection><num>(6)</num><intro><p>In this section—</p></intro><hcontainer name="definition"><intro><p>“moratorium debt”—</p></intro><level class="para1"><num>(a)</num><content><p>in the case of a moratorium under Part A1 of the Insolvency Act 1986, has the same meaning as in section 174A of that Act;</p></content></level><level class="para1"><num>(b)</num><content><p>in the case of a moratorium under Part 1A of the Insolvency (Northern Ireland) Order 1989, has the same meaning as in Article 148A of that Order;</p></content></level></hcontainer><hcontainer name="definition"><intro><p>“priority pre-moratorium debt”—</p></intro><level class="para1"><num>(a)</num><content><p>in the case of a moratorium under Part A1 of the Insolvency Act 1986, has the same meaning as in section 174A of that Act;</p></content></level><level class="para1"><num>(b)</num><content><p>in the case of a moratorium under Part 1A of the Insolvency (Northern Ireland) Order 1989, has the same meaning as in Article 148A of that Order.</p></content></level></hcontainer></subsection></section><section><num>901I</num><heading>Pension schemes</heading><subsection><num>(1)</num><content><p>In a case where the company in respect of which a compromise or arrangement is proposed is or has been an employer in respect of an occupational pension scheme that is not a money purchase scheme, any notice or other document required to be sent to a creditor of the company must also be sent to the Pensions Regulator.</p></content></subsection><subsection><num>(2)</num><content><p>In a case where the company in respect of which a compromise or arrangement is proposed is an employer in respect of an eligible scheme, any notice or other document required to be sent to a creditor of the company must also be sent to the Board of the Pension Protection Fund (“the Board”).</p></content></subsection><subsection><num>(3)</num><intro><p>The Secretary of State may by regulations provide that, in a case where—</p></intro><level class="para1"><num>(a)</num><content><p>the company in respect of which a compromise or arrangement is proposed is an employer in respect of an eligible scheme, and</p></content></level><level class="para1"><num>(b)</num><content><p>the trustees or managers of the scheme are a creditor of the company,</p></content></level><wrapUp><p>the Board may exercise any rights, or any rights of a specified description, that are exercisable under this Part by the trustees or managers as a creditor of the company.</p></wrapUp></subsection><subsection><num>(4)</num><intro><p>Regulations under this section may provide that the Board may exercise any such rights—</p></intro><level class="para1"><num>(a)</num><content><p>to the exclusion of the trustees or managers of the scheme, or</p></content></level><level class="para1"><num>(b)</num><content><p>in addition to the exercise of those rights by the trustees or managers of the scheme.</p></content></level></subsection><subsection><num>(5)</num><intro><p>Regulations under this section—</p></intro><level class="para1"><num>(a)</num><content><p>may specify conditions that must be met before the Board may exercise any such rights;</p></content></level><level class="para1"><num>(b)</num><content><p>may provide for any such rights to be exercisable by the Board for a specified period;</p></content></level><level class="para1"><num>(c)</num><content><p>may make provision in connection with any such rights ceasing to be so exercisable at the end of such a period.</p></content></level></subsection><subsection><num>(6)</num><content><p>Regulations under this section are subject to affirmative resolution procedure (but see subsection (7)).</p></content></subsection><subsection><num>(7)</num><content><p>During the period of six months beginning with the day on which this section comes into force, regulations under this section are subject to approval after being made (and subsection (6) does not apply).</p></content></subsection><subsection><num>(8)</num><content><p>For the purposes of subsection (7), section 1291 has effect as if any reference in that section to a period of 28 days were to a period of 40 days.</p></content></subsection><subsection><num>(9)</num><intro><p>In this section—</p></intro><hcontainer name="definition"><content><p>“eligible scheme” means any pension scheme that is an eligible scheme for the purposes of section 126 of the Pensions Act 2004 or Article 110 of the Pensions (Northern Ireland) Order 2005 (<ref eId="c00101" href="http://www.legislation.gov.uk/id/nisi/2005/255">S.I. 2005/255 (N.I. 1)</ref>);</p></content></hcontainer><hcontainer name="definition"><intro><p>“employer”—</p></intro><level class="para1"><num>(a)</num><content><p>in subsection (1), means an employer within the meaning of section 318(1) of the Pensions Act 2004 or Article 2(2) of the Pensions (Northern Ireland) Order 2005;</p></content></level><level class="para1"><num>(b)</num><content><p>in subsections (2) and (3)—</p><blockList class="ordered roman parens" ukl:Name="OrderedList" ukl:Type="roman" ukl:Decoration="parens"><item><num>(i)</num><p>in the case of a pension scheme that is an eligible scheme for the purposes of section 126 of the Pensions Act 2004, has the same meaning as it has for the purposes of Part 2 of that Act (see section 318(1) and (4) of that Act);</p></item><item><num>(ii)</num><p>in the case of a pension scheme that is an eligible scheme for the purposes of Article 110 of the Pensions (Northern Ireland) Order 2005, has the same meaning as it has for the purposes of Part 3 of that Order (see Article 2(2) and (5) of that Order);</p></item></blockList></content></level></hcontainer><hcontainer name="definition"><content><p>“money purchase scheme” means a pension scheme that is a money purchase scheme for the purposes of the Pension Schemes Act 1993 (see section 181(1) of that Act) or the Pension Schemes (Northern Ireland) Act 1993 (see section 176(1) of that Act);</p></content></hcontainer><hcontainer name="definition"><content><p>“occupational pension scheme” and “pension scheme” have the meaning given by section 1 of the Pension Schemes Act 1993;</p></content></hcontainer><hcontainer name="definition"><content><p>“specified” means specified in regulations under this section.</p></content></hcontainer></subsection></section></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading>Reconstructions and amalgamations</heading><section><num>901J</num><heading>Powers of court to facilitate reconstruction or amalgamation</heading><subsection><num>(1)</num><intro><p>This section applies where application is made to the court under section 901F to sanction a compromise or arrangement and it is shown that—</p></intro><level class="para1"><num>(a)</num><content><p>the compromise or arrangement is proposed in connection with a scheme for the reconstruction of any company or companies, or the amalgamation of any two or more companies, and</p></content></level><level class="para1"><num>(b)</num><content><p>under the scheme the whole or any part of the undertaking or the property of any company concerned in the scheme (a “transferor company”) is to be transferred to another company (“the transferee company”).</p></content></level></subsection><subsection><num>(2)</num><intro><p>The court may, either by the order sanctioning the compromise or arrangement or by a subsequent order, make provision for all or any of the following matters—</p></intro><level class="para1"><num>(a)</num><content><p>the transfer to the transferee company of the whole or any part of the undertaking and of the property or liabilities of any transferor company;</p></content></level><level class="para1"><num>(b)</num><content><p>the allotting or appropriation by the transferee company of any shares, debentures, policies or other like interests in that company which under the compromise or arrangement are to be allotted or appropriated by that company to or for any person;</p></content></level><level class="para1"><num>(c)</num><content><p>the continuation by or against the transferee company of any legal proceedings pending by or against any transferor company;</p></content></level><level class="para1"><num>(d)</num><content><p>the dissolution, without winding up, of any transferor company;</p></content></level><level class="para1"><num>(e)</num><content><p>the provision to be made for any persons who, within such time and in such manner as the court directs, dissent from the compromise or arrangement;</p></content></level><level class="para1"><num>(f)</num><content><p>such incidental, consequential and supplemental matters as are necessary to secure that the reconstruction or amalgamation is fully and effectively carried out.</p></content></level></subsection><subsection><num>(3)</num><intro><p>If an order under this section provides for the transfer of property or liabilities—</p></intro><level class="para1"><num>(a)</num><content><p>the property is by virtue of the order transferred to, and vests in, the transferee company, and</p></content></level><level class="para1"><num>(b)</num><content><p>the liabilities are, by virtue of the order, transferred to and become liabilities of that company.</p></content></level></subsection><subsection><num>(4)</num><content><p>The property (if the order so directs) vests freed from any charge that is by virtue of the compromise or arrangement to cease to have effect.</p></content></subsection><subsection><num>(5)</num><intro><p>In this section—</p></intro><hcontainer name="definition"><content><p>“property” includes property, rights and powers of every description; and</p></content></hcontainer><hcontainer name="definition"><content><p>“liabilities” includes duties.</p></content></hcontainer></subsection><subsection><num>(6)</num><content><p>Every company in relation to which an order is made under this section must cause a copy of the order to be delivered to the registrar within seven days after its making.</p></content></subsection><subsection><num>(7)</num><intro><p>If default is made in complying with subsection (6) an offence is committed by—</p></intro><level class="para1"><num>(a)</num><content><p>the company, and</p></content></level><level class="para1"><num>(b)</num><content><p>every officer of the company who is in default.</p></content></level></subsection><subsection><num>(8)</num><content><p>A person guilty of an offence under subsection (7) is liable on summary conviction to a fine not exceeding level 3 on the standard scale and, for continued contravention, a daily default fine not exceeding one-tenth of level 3 on the standard scale.</p></content></subsection></section></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading>Obligations of company with respect to articles etc</heading><section><num>901K</num><heading>Obligations of company with respect to articles etc</heading><subsection><num>(1)</num><intro><p>This section applies—</p></intro><level class="para1"><num>(a)</num><content><p>to any order under section 901F (order sanctioning compromise or arrangement), and</p></content></level><level class="para1"><num>(b)</num><content><p>to any order under section 901J (order facilitating reconstruction or amalgamation) that alters the company’s constitution.</p></content></level></subsection><subsection><num>(2)</num><intro><p>If—</p></intro><level class="para1"><num>(a)</num><intro><p>the order amends—</p></intro><level class="para2"><num>(i)</num><content><p>the company’s articles, or</p></content></level><level class="para2"><num>(ii)</num><content><p>any resolution or agreement to which Chapter 3 of Part 3 applies (resolution or agreement affecting a company’s constitution), and</p></content></level></level><level class="para1"><num>(b)</num><content><p>a copy of the order is required to be delivered to the registrar by the company under section 901F(6)(b) or section 901J(6),</p></content></level><wrapUp><p>the copy of the order delivered to the registrar must be accompanied by a copy of the company’s articles, or the resolution or agreement in question, as amended.</p></wrapUp></subsection><subsection><num>(3)</num><content><p>Every copy of the company’s articles issued by the company after the order is made must be accompanied by a copy of the order, unless the effect of the order has been incorporated into the articles by amendment.</p></content></subsection><subsection><num>(4)</num><intro><p>In this section—</p></intro><level class="para1"><num>(a)</num><content><p>references to the effect of the order include the effect of the compromise or arrangement to which the order relates, and</p></content></level><level class="para1"><num>(b)</num><content><p>in the case of a company not having articles, references to its articles are to be read as references to the instrument constituting the company or defining its constitution.</p></content></level></subsection><subsection><num>(5)</num><intro><p>If a company makes default in complying with this section an offence is committed by—</p></intro><level class="para1"><num>(a)</num><content><p>the company, and</p></content></level><level class="para1"><num>(b)</num><content><p>every officer of the company who is in default.</p></content></level></subsection><subsection><num>(6)</num><content><p>A person guilty of an offence under this section is liable on summary conviction to a fine not exceeding level 3 on the standard scale.</p></content></subsection></section></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading>Power to amend Act</heading><section><num>901L</num><heading>Power to amend Act</heading><subsection><num>(1)</num><content><p>The Secretary of State may by regulations make any amendment of this Act which the Secretary of State considers necessary or expedient for the purposes of, in consequence of, or for giving full effect to this Part.</p></content></subsection><subsection><num>(2)</num><content><p>Regulations under this section are subject to affirmative resolution procedure.</p></content></subsection></section></hcontainer></part></quotedStructure></mod></p></content></paragraph></part><part eId="schedule-9-part-2"><num>PART 2</num><heading>Consequential amendments</heading><hcontainer name="crossheading" class="schGroup7"><heading>Finance Act 1986</heading><paragraph eId="schedule-9-paragraph-2" class="schProv1"><num>2</num><content><p>The Finance Act 1986 is amended as follows.</p></content></paragraph><paragraph eId="schedule-9-paragraph-3" class="schProv1"><num>3</num><content><p>In section 80D (repurchases and stock lending: replacement stock on insolvency), in subsection (9)(f), after “Part 26” insert “or 26A”.</p></content></paragraph><paragraph eId="schedule-9-paragraph-4" class="schProv1"><num>4</num><content><p>In section 89AB (stamp duty reserve tax: exception for repurchases and stock lending in case of insolvency), in subsection (9)(f), after “Part 26” insert “or 26A”.</p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Insolvency Act 1986</heading><paragraph eId="schedule-9-paragraph-5" class="schProv1"><num>5</num><content><p>The Insolvency Act 1986 is amended as follows.</p></content></paragraph><paragraph eId="schedule-9-paragraph-6" class="schProv1"><num>6</num><subparagraph eId="schedule-9-paragraph-6-1"><num>(1)</num><content><p>In Part 4 (winding up of companies registered under the Companies Acts), Chapter 8 (provisions of general application in winding up) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-9-paragraph-6-2"><num>(2)</num><content><p>In section 176ZB (application of proceeds of office-holder claims), in subsection (4)(b), after “Part 26” insert “or 26A”.</p></content></subparagraph><subparagraph eId="schedule-9-paragraph-6-3"><num>(3)</num><content><p>In section 176A (share of assets for unsecured creditors), in subsection (4)(b), after “Part 26” insert “or 26A”.</p></content></subparagraph></paragraph><paragraph eId="schedule-9-paragraph-7" class="schProv1"><num>7</num><subparagraph eId="schedule-9-paragraph-7-1"><num>(1)</num><content><p>Schedule B1 (administration) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-9-paragraph-7-2"><num>(2)</num><content><p>In paragraph 49 (administrator’s proposals), in sub-paragraph (3)(b), after “Part 26” insert “or 26A”.</p></content></subparagraph><subparagraph eId="schedule-9-paragraph-7-3"><num>(3)</num><content><p>In paragraph 73 (protection for priority creditor), in sub-paragraph (2)(c), after “Part 26” insert “or 26A”.</p></content></subparagraph><subparagraph eId="schedule-9-paragraph-7-4"><num>(4)</num><content><p>In paragraph 74 (challenge to administrator’s conduct of company), in sub-paragraph (6)(b), after “Part 26” insert “or 26A”.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Insolvency (Northern Ireland) Order 1989 (<ref eId="c00102" href="http://www.legislation.gov.uk/id/nisi/1989/2405">S.I. 1989/2405 (N.I. 19)</ref>)</heading><paragraph eId="schedule-9-paragraph-8" class="schProv1"><num>8</num><content><p>The Insolvency (Northern Ireland) Order 1989 is amended as follows.</p></content></paragraph><paragraph eId="schedule-9-paragraph-9" class="schProv1"><num>9</num><content><p>In Article 150A (share of assets for unsecured creditors), in paragraph (4)(b), after “Part 26” insert “or 26A”.</p></content></paragraph><paragraph eId="schedule-9-paragraph-10" class="schProv1"><num>10</num><subparagraph eId="schedule-9-paragraph-10-1"><num>(1)</num><content><p>Schedule B1 (administration) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-9-paragraph-10-2"><num>(2)</num><content><p>In paragraph 50 (administrator’s proposals), in sub-paragraph (3)(b), after “Part 26” insert “or 26A”.</p></content></subparagraph><subparagraph eId="schedule-9-paragraph-10-3"><num>(3)</num><content><p>In paragraph 74 (protection for secured or preferential creditor), in sub-paragraph (2)(c), after “Part 26” insert “or 26A”.</p></content></subparagraph><subparagraph eId="schedule-9-paragraph-10-4"><num>(4)</num><content><p>In paragraph 75 (challenge to administrator’s conduct of company), in sub-paragraph (6)(b), after “Part 26” insert “or 26A”.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Water Industry Act 1991</heading><paragraph eId="schedule-9-paragraph-11" class="schProv1"><num>11</num><content><p>In section 23 of the Water Industry Act 1991 (meaning and effect of special administration order), in subsection (2D)(b), after “Part 26” insert “or 26A”.</p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Taxation of Chargeable Gains Act 1992</heading><paragraph eId="schedule-9-paragraph-12" class="schProv1"><num>12</num><content><p>The Taxation of Chargeable Gains Act 1992 is amended as follows.</p></content></paragraph><paragraph eId="schedule-9-paragraph-13" class="schProv1"><num>13</num><content><p>In section 263CA (stock lending: insolvency etc of borrower), in subsection (9)(f), after “Part 26” insert “or 26A”.</p></content></paragraph><paragraph eId="schedule-9-paragraph-14" class="schProv1"><num>14</num><content><p>In Schedule 5AA (meaning of “scheme of reconstruction” for purposes of section 136), in paragraph 5(a)(i), after “Part 26” insert “or 26A”.</p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Value Added Tax Act 1994</heading><paragraph eId="schedule-9-paragraph-15" class="schProv1"><num>15</num><content><p><mod>In section 26AA of the Value Added Tax Act 1994 (disapplication of disallowance under section 26A in insolvency), in subsection (8), after paragraph (k) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="double"><level class="para1"><num>(ka)</num><content><p>a compromise or arrangement sanctioned by the court and delivered to the registrar or (as the case may be) published in the Gazette in accordance with section 901F of the Companies Act 2006 is in place in relation to that person,</p></content></level></quotedStructure><inline name="appendText">.</inline></mod></p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Housing Act 1996</heading><paragraph eId="schedule-9-paragraph-16" class="schProv1"><num>16</num><subparagraph eId="schedule-9-paragraph-16-1"><num>(1)</num><content><p>In Part 2 of Schedule 1 to the Housing Act 1996 (registered social landlords: constitution, change of rules, amalgamation and dissolution), paragraph 13 (arrangement, reconstruction, etc of company) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-9-paragraph-16-2"><num>(2)</num><content><p><mod>After sub-paragraph (3) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="schedule" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="schedule" ukl:Format="double"><subparagraph><num>(3A)</num><content><p>If a court makes an order under section 901F of the Companies Act 2006 (sanction of compromise or arrangement with creditors or members) in relation to the company, the company must notify the Welsh Ministers of the order.</p></content></subparagraph><subparagraph><num>(3B)</num><content><p>If a court makes an order under section 901J of the Companies Act 2006 (powers of court to facilitate reconstruction or amalgamation) in relation to the company, the company must notify the Welsh Ministers of the order.</p></content></subparagraph></quotedStructure></mod></p></content></subparagraph><subparagraph eId="schedule-9-paragraph-16-3"><num>(3)</num><content><p>In sub-paragraph (8), after “sub-paragraph (3)” insert “, (3B)”.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Financial Services and Markets Act 2000</heading><paragraph eId="schedule-9-paragraph-17" class="schProv1"><num>17</num><content><p>The Financial Services and Markets Act 2000 is amended as follows.</p></content></paragraph><paragraph eId="schedule-9-paragraph-18" class="schProv1"><num>18</num><content><p>In section 105 (insurance business transfer schemes), in subsection (5), for “Part 26 of that Act” substitute “Part 26 or 26A of that Act, as the case may be”.</p></content></paragraph><paragraph eId="schedule-9-paragraph-19" class="schProv1"><num>19</num><intro><p>In Schedule 17A (further provision in relation to exercise of Part 18 functions by Bank of England), in paragraph 24 (insolvency)—</p></intro><level class="para1" eId="schedule-9-paragraph-19-a"><num>(a)</num><content><p><mod>in sub-paragraph (1), before paragraph (a) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="schedule" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="schedule" ukl:Format="double"><level class="para1"><num>(za)</num><content><p>sections 355A and 355B (powers to participate in proceedings under Part 26A of the Companies Act 2006);</p></content></level></quotedStructure><inline name="appendText">;</inline></mod></p></content></level><level class="para1" eId="schedule-9-paragraph-19-b"><num>(b)</num><content><p>in sub-paragraph (2), after “recognised investment exchange” insert “(other than the reference to “an authorised person” in section 355B(2)(a))”.</p></content></level></paragraph><paragraph eId="schedule-9-paragraph-20" class="schProv1"><num>20</num><subparagraph eId="schedule-9-paragraph-20-1"><num>(1)</num><content><p>Part 24 (insolvency) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-9-paragraph-20-2"><num>(2)</num><content><p><mod>After section 355 insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="double"><hcontainer name="crossheading" ukl:Name="Pblock"><heading>Arrangements and reconstructions: companies in financial difficulty</heading><section><num>355A</num><heading>Powers of FCA and PRA to participate in proceedings</heading><subsection><num>(1)</num><intro><p>This section applies where Part 26A of the Companies Act 2006 (“the 2006 Act”) (arrangements and reconstructions: companies in financial difficulty) applies in relation to a company which—</p></intro><level class="para1"><num>(a)</num><content><p>is, or has been, an authorised person or recognised investment exchange;</p></content></level><level class="para1"><num>(b)</num><intro><p>is, or has been, any of the following—</p></intro><level class="para2"><num>(i)</num><content><p>an electronic money institution;</p></content></level><level class="para2"><num>(ii)</num><content><p>an authorised payment institution;</p></content></level><level class="para2"><num>(iii)</num><content><p>a small payment institution;</p></content></level><level class="para2"><num>(iv)</num><content><p>a registered account information service provider;</p></content></level></level><level class="para1"><num>(c)</num><content><p>is, or has been, an appointed representative; or</p></content></level><level class="para1"><num>(d)</num><content><p>is carrying on, or has carried on, a regulated activity in contravention of the general prohibition.</p></content></level></subsection><subsection><num>(2)</num><intro><p>A relevant applicant must give notice to the appropriate regulator of—</p></intro><level class="para1"><num>(a)</num><content><p>any application which the relevant applicant intends to make under section 901C(1) of the 2006 Act, and</p></content></level><level class="para1"><num>(b)</num><content><p>any application which the relevant applicant believes a creditor or member of the company has made, or intends to make, under section 901C(1) of that Act in relation to the company.</p></content></level></subsection><subsection><num>(3)</num><content><p>A relevant applicant may not make an application under section 901C(1) of the 2006 Act in relation to a company that is a PRA-regulated person without the consent of the PRA.</p></content></subsection><subsection><num>(4)</num><intro><p>In this section “relevant applicant”, in relation to a company, means—</p></intro><level class="para1"><num>(a)</num><content><p>the company;</p></content></level><level class="para1"><num>(b)</num><content><p>if the company is being wound up, the liquidator;</p></content></level><level class="para1"><num>(c)</num><content><p>if the company is in administration, the administrator.</p></content></level></subsection><subsection><num>(5)</num><content><p>The appropriate regulator is entitled to be heard at any hearing of an application made under section 901C or 901F of the 2006 Act in relation to the company.</p></content></subsection><subsection><num>(6)</num><content><p>Any notice or other document required to be sent to a creditor of the company must also be sent to the appropriate regulator.</p></content></subsection><subsection><num>(7)</num><intro><p>A person appointed for the purpose by the appropriate regulator is entitled—</p></intro><level class="para1"><num>(a)</num><content><p>to attend any meeting of creditors of the company summoned under section 901C of the 2006 Act;</p></content></level><level class="para1"><num>(b)</num><content><p>to make representations as to any matter for decision at such a meeting.</p></content></level></subsection><subsection><num>(8)</num><intro><p>In this section—</p></intro><hcontainer name="definition"><intro><p>“the appropriate regulator” means—</p></intro><level class="para1"><num>(a)</num><content><p>where the company is a PRA-regulated person, each of the FCA and the PRA, except that the reference in subsection (7) to a person appointed by the appropriate regulator is to be read as a reference to a person appointed by either the FCA or the PRA;</p></content></level><level class="para1"><num>(b)</num><content><p>in any other case, the FCA;</p></content></level></hcontainer><hcontainer name="definition"><content><p>“authorised payment institution”, “small payment institution” and “registered account information service provider” have the same meaning as in the Payment Services Regulations 2017 (<ref eId="c00103" href="http://www.legislation.gov.uk/id/uksi/2017/752">S.I. 2017/752</ref>) (see regulation 2 of those Regulations);</p></content></hcontainer><hcontainer name="definition"><content><p>“electronic money institution” has the same meaning as in the Electronic Money Regulations 2011 (<ref eId="c00104" href="http://www.legislation.gov.uk/id/uksi/2011/99">S.I. 2011/99</ref>) (see regulation 2 of those Regulations).</p></content></hcontainer></subsection></section><section><num>355B</num><heading>Enforcement of requirements imposed by section 355A</heading><subsection><num>(1)</num><intro><p>For the purpose of enforcing a requirement imposed on a company by section 355A(2) or (3), the appropriate regulator may exercise any of the following powers (so far as it would not otherwise be exercisable)—</p></intro><level class="para1"><num>(a)</num><content><p>the power to publish a statement under section 205 (public censure);</p></content></level><level class="para1"><num>(b)</num><content><p>the power to impose a financial penalty under section 206.</p></content></level></subsection><subsection><num>(2)</num><intro><p>Accordingly, sections 205 and 206, and so much of this Act as relates to either of those sections, have effect in relation to a requirement imposed by section 355A(2) or (3) as if—</p></intro><level class="para1"><num>(a)</num><content><p>any reference to an authorised person included (so far as would not otherwise be the case) a reference to a company falling within any of paragraphs (a) to (d) of section 355A(1),</p></content></level><level class="para1"><num>(b)</num><content><p>any reference to a relevant requirement included (so far as would not otherwise be the case) a reference to a requirement imposed by section 355A(2) or (3), and</p></content></level><level class="para1"><num>(c)</num><content><p>“the appropriate regulator” had the same meaning as in section 355A.</p></content></level></subsection><subsection><num>(3)</num><content><p>In this section “the appropriate regulator” has the same meaning as in section 355A.</p></content></subsection></section></hcontainer></quotedStructure></mod></p></content></subparagraph><subparagraph eId="schedule-9-paragraph-20-3"><num>(3)</num><intro><p>In section 362 (powers of FCA and PRA to participate in administration proceedings)—</p></intro><level class="para1" eId="schedule-9-paragraph-20-3-a"><num>(a)</num><intro><p>in subsection (6)—</p></intro><level class="para2" eId="schedule-9-paragraph-20-3-a-i"><num>(i)</num><content><p>after “arrangement” insert “in relation to which Part 26 of the Companies Act 2006 applies”, and</p></content></level><level class="para2" eId="schedule-9-paragraph-20-3-a-ii"><num>(ii)</num><content><p>for “the Companies Act 2006” substitute “that Act”;</p></content></level></level><level class="para1" eId="schedule-9-paragraph-20-3-b"><num>(b)</num><content><p><mod>after that subsection insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="double"><subsection><num>(6A)</num><content><p>If, during the course of the administration of a company, a compromise or arrangement in relation to which Part 26A of the Companies Act 2006 applies is proposed between the company and its creditors, or any class of them, the appropriate regulator may apply to the court under section 901C or 901F of that Act.</p></content></subsection></quotedStructure></mod></p></content></level></subparagraph><subparagraph eId="schedule-9-paragraph-20-4"><num>(4)</num><intro><p>In section 365 (powers of FCA and PRA to participate in voluntary winding up proceedings)—</p></intro><level class="para1" eId="schedule-9-paragraph-20-4-a"><num>(a)</num><intro><p>in subsection (7)—</p></intro><level class="para2" eId="schedule-9-paragraph-20-4-a-i"><num>(i)</num><content><p>after “arrangement” insert “in relation to which Part 26 of the Companies Act 2006 applies”, and</p></content></level><level class="para2" eId="schedule-9-paragraph-20-4-a-ii"><num>(ii)</num><content><p>for “the Companies Act 2006” substitute “that Act”;</p></content></level></level><level class="para1" eId="schedule-9-paragraph-20-4-b"><num>(b)</num><content><p><mod>after that subsection insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="double"><subsection><num>(7A)</num><content><p>If, during the course of the winding up of the company, a compromise or arrangement in relation to which Part 26A of the Companies Act 2006 applies is proposed between the company and its creditors, or any class of them, the appropriate regulator may apply to the court under section 901C or 901F of that Act.</p></content></subsection></quotedStructure></mod></p></content></level></subparagraph><subparagraph eId="schedule-9-paragraph-20-5"><num>(5)</num><intro><p>In section 371 (powers of FCA and PRA to participate in proceedings for winding up by court)—</p></intro><level class="para1" eId="schedule-9-paragraph-20-5-a"><num>(a)</num><intro><p>in subsection (5)—</p></intro><level class="para2" eId="schedule-9-paragraph-20-5-a-i"><num>(i)</num><content><p>after “arrangement” insert “in relation to which Part 26 of the Companies Act 2006 applies”, and</p></content></level><level class="para2" eId="schedule-9-paragraph-20-5-a-ii"><num>(ii)</num><content><p>for “the Companies Act 2006” substitute “that Act”;</p></content></level></level><level class="para1" eId="schedule-9-paragraph-20-5-b"><num>(b)</num><content><p><mod>after that subsection insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="double"><subsection><num>(5A)</num><content><p>If, during the course of the winding up of a company, a compromise or arrangement in relation to which Part 26A of the Companies Act 2006 applies is proposed between the company and its creditors, or any class of them, the appropriate regulator may apply to the court under section 901C or 901F of that Act.</p></content></subsection></quotedStructure></mod></p></content></level></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Limited Liability Partnerships Act 2000</heading><paragraph eId="schedule-9-paragraph-21" class="schProv1"><num>21</num><intro><p>In section 17 of the Limited Liability Partnerships Act 2000, in subsection (5)(b) (procedure for regulations applying provisions of Companies Act 2006)—</p></intro><level class="para1" eId="schedule-9-paragraph-21-a"><num>(a)</num><content><p>in the entry for Part 26 of the Companies Act 2006, after “reconstructions” insert “: general”;</p></content></level><level class="para1" eId="schedule-9-paragraph-21-b"><num>(b)</num><content><p><mod>after that entry insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="double"><blockList class="unordered none" ukl:Name="UnorderedList" ukl:Decoration="none"><item><p>Part 26A (arrangements and reconstructions: companies in financial difficulty);</p></item></blockList></quotedStructure><inline name="appendText">.</inline></mod></p></content></level></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Enterprise Act 2002</heading><paragraph eId="schedule-9-paragraph-22" class="schProv1"><num>22</num><content><p><mod>In section 255 of the Enterprise Act 2002 (application of law about company arrangement or administration to non-company), in subsection (2), omit the “and” before paragraph (c) and after that paragraph insert <quotedText startQuote="“">, and</quotedText><quotedStructure endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="double"><level class="para1"><num>(d)</num><content><p>Part 26A of that Act (compromise or arrangement with creditors where company in financial difficulty).</p></content></level></quotedStructure></mod></p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Income Tax (Earnings and Pensions) Act 2003</heading><paragraph eId="schedule-9-paragraph-23" class="schProv1"><num>23</num><content><p>The Income Tax (Earnings and Pensions) Act 2003 is amended as follows.</p></content></paragraph><paragraph eId="schedule-9-paragraph-24" class="schProv1"><num>24</num><subparagraph eId="schedule-9-paragraph-24-1"><num>(1)</num><content><p>Schedule 3 (SAYE option schemes) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-9-paragraph-24-2"><num>(2)</num><intro><p>In Part 6 (requirements etc relating to share options), in paragraph 37 (exercise of options: company events)—</p></intro><level class="para1" eId="schedule-9-paragraph-24-2-a"><num>(a)</num><content><p>in sub-paragraph (1), after “(4)” insert “, (4ZA)”;</p></content></level><level class="para1" eId="schedule-9-paragraph-24-2-b"><num>(b)</num><content><p><mod>after sub-paragraph (4) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="schedule" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="schedule" ukl:Format="double"><subparagraph><num>(4ZA)</num><intro><p>The relevant date for the purposes of this sub-paragraph is the date when the court sanctions under section 901F of the Companies Act 2006 (court sanction for compromise or arrangement) a compromise or arrangement applicable to or affecting—</p></intro><level class="para1"><num>(a)</num><content><p>all the ordinary share capital of the company or all the shares of the same class as the shares to which the option relates, or</p></content></level><level class="para1"><num>(b)</num><content><p>all the shares, or all the shares of that same class, which are held by a class of shareholders identified otherwise than by reference to their employment or directorships or their participation in a Schedule 3 SAYE option scheme.</p></content></level></subparagraph></quotedStructure><inline name="appendText">;</inline></mod></p></content></level><level class="para1" eId="schedule-9-paragraph-24-2-c"><num>(c)</num><content><p>in sub-paragraph (6C)(b), after “sub-paragraph (4)” insert “or (4ZA)”;</p></content></level><level class="para1" eId="schedule-9-paragraph-24-2-d"><num>(d)</num><content><p>in sub-paragraph (6E)(a), after “(4)” insert “, (4ZA)”;</p></content></level><level class="para1" eId="schedule-9-paragraph-24-2-e"><num>(e)</num><content><p>in sub-paragraph (6F)(a)(i) and (b)(i), after “(4)” insert “, (4ZA)”.</p></content></level></subparagraph><subparagraph eId="schedule-9-paragraph-24-3"><num>(3)</num><content><p>In Part 7 (exchange of share options), in paragraph 38 (exchange of options on company reorganisation), in sub-paragraph (2)(b), after “section 899” insert “or 901F”.</p></content></subparagraph></paragraph><paragraph eId="schedule-9-paragraph-25" class="schProv1"><num>25</num><subparagraph eId="schedule-9-paragraph-25-1"><num>(1)</num><content><p>Schedule 4 (CSOP schemes) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-9-paragraph-25-2"><num>(2)</num><intro><p>In Part 5 (requirements etc relating to share options), in paragraph 25A (exercise of options: company events)—</p></intro><level class="para1" eId="schedule-9-paragraph-25-2-a"><num>(a)</num><content><p>in sub-paragraph (1), after “(6)” insert “, (6ZA)”;</p></content></level><level class="para1" eId="schedule-9-paragraph-25-2-b"><num>(b)</num><content><p><mod>after sub-paragraph (6) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="schedule" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="schedule" ukl:Format="double"><subparagraph><num>(6ZA)</num><intro><p>The relevant date for the purposes of this sub-paragraph is the date when the court sanctions under section 901F of the Companies Act 2006 (court sanction for compromise or arrangement) a compromise or arrangement applicable to or affecting—</p></intro><level class="para1"><num>(a)</num><content><p>all the ordinary share capital of the company or all the shares of the same class as the shares to which the option relates, or</p></content></level><level class="para1"><num>(b)</num><content><p>all the shares, or all the shares of that same class, which are held by a class of shareholders identified otherwise than by reference to their employment or directorships or their participation in a Schedule 4 CSOP scheme.</p></content></level></subparagraph></quotedStructure><inline name="appendText">;</inline></mod></p></content></level><level class="para1" eId="schedule-9-paragraph-25-2-c"><num>(c)</num><content><p>in sub-paragraph (7C)(b), after “sub-paragraph (6)” insert “or (6ZA)”;</p></content></level><level class="para1" eId="schedule-9-paragraph-25-2-d"><num>(d)</num><content><p>in sub-paragraph (7E)(a), after “(6)” insert “, (6ZA)”;</p></content></level><level class="para1" eId="schedule-9-paragraph-25-2-e"><num>(e)</num><content><p>in sub-paragraph (7F)(a)(i) and (b)(i), after “(6)” insert “, (6ZA)”.</p></content></level></subparagraph><subparagraph eId="schedule-9-paragraph-25-3"><num>(3)</num><content><p>In Part 6 (exchange of share options), in paragraph 26 (exchange of options on company reorganisation), in sub-paragraph (2)(b), after “section 899” insert “or 901F”.</p></content></subparagraph></paragraph><paragraph eId="schedule-9-paragraph-26" class="schProv1"><num>26</num><content><p>In Schedule 5 (enterprise management incentives), in paragraph 39 (company reorganisations), in sub-paragraph (2)(b), after “section 899” insert “or 901F”.</p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Energy Act 2004</heading><paragraph eId="schedule-9-paragraph-27" class="schProv1"><num>27</num><content><p>In Part 2 of Schedule 20 to the Energy Act 2004 (conduct of energy administration: modifications of Schedule B1 to the Insolvency Act 1986), in paragraph 16(2), after “section 899” insert “or 901F”.</p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Income Tax (Trading and Other Income) Act 2005</heading><paragraph eId="schedule-9-paragraph-28" class="schProv1"><num>28</num><content><p>In Part 2 of the Income Tax (Trading and Other Income) Act 2005 (trading income), in section 259 (meaning of “statutory insolvency arrangement”), in paragraph (b), after “Part 26” insert “or 26A”.</p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Insolvency (Northern Ireland) Order 2005 (<ref eId="c00105" href="http://www.legislation.gov.uk/id/nisi/2005/1455">S.I. 2005/1455 (N.I. 10)</ref>)</heading><paragraph eId="schedule-9-paragraph-29" class="schProv1"><num>29</num><content><p><mod>In Article 10 of the Insolvency (Northern Ireland) Order 2005 (application of law about company arrangement or administration to non-company), in paragraph (3), omit the “and” before sub-paragraph (c) and after that sub-paragraph insert <quotedText startQuote="“">, and</quotedText><quotedStructure endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="order" ukl:Context="main" ukl:Format="double"><level class="para1"><num>(d)</num><content><p>Part 26A of that Act (compromise or arrangement with creditors where company in financial difficulty).</p></content></level></quotedStructure></mod></p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Companies Act 2006</heading><paragraph eId="schedule-9-paragraph-30" class="schProv1"><num>30</num><content><p>The Companies Act 2006 is amended as follows.</p></content></paragraph><paragraph eId="schedule-9-paragraph-31" class="schProv1"><num>31</num><content><p><mod>In section 32(1) (constitutional documents to be provided to members), after paragraph (d) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="double"><level class="para1"><num>(da)</num><content><p>a copy of any court order under section 901F (order sanctioning compromise or arrangement for company in financial difficulty) or section 901J (order facilitating reconstruction or amalgamation);</p></content></level></quotedStructure><inline name="appendText">.</inline></mod></p></content></paragraph><paragraph eId="schedule-9-paragraph-32" class="schProv1"><num>32</num><content><p>In section 93 (recent allotment of shares for non-cash consideration), in subsection (7)(b)(i), after “Part 26” insert “or 26A”.</p></content></paragraph><paragraph eId="schedule-9-paragraph-33" class="schProv1"><num>33</num><subparagraph eId="schedule-9-paragraph-33-1"><num>(1)</num><content><p>Part 17 (a company’s share capital) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-9-paragraph-33-2"><num>(2)</num><content><p><mod>In section 549 (exercise by directors of powers to allot shares etc), after subsection (3) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="double"><subsection><num>(3A)</num><content><p>Subsection (1) does not apply to anything done for the purposes of a compromise or arrangement sanctioned in accordance with Part 26A (arrangements and reconstructions: companies in financial difficulty).</p></content></subsection></quotedStructure></mod></p></content></subparagraph><subparagraph eId="schedule-9-paragraph-33-3"><num>(3)</num><intro><p>In Chapter 3 (allotment of equity securities: existing shareholders’ right of pre-emption)—</p></intro><level class="para1" eId="schedule-9-paragraph-33-3-a"><num>(a)</num><content><p>in section 561 (existing shareholders’ right of pre-emption), in subsection (5)(a), for “566” substitute “566A”;</p></content></level><level class="para1" eId="schedule-9-paragraph-33-3-b"><num>(b)</num><content><p><mod>after section 566 insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="double"><section><num>566A</num><heading>Exception to pre-emption right: companies in financial difficulty</heading><content><p>Section 561(1) (existing shareholders’ right of pre-emption) does not apply to an allotment of equity securities that is carried out as part of a compromise or arrangement sanctioned in accordance with Part 26A (arrangements and reconstructions: companies in financial difficulty).</p></content></section></quotedStructure></mod></p></content></level></subparagraph><subparagraph eId="schedule-9-paragraph-33-4"><num>(4)</num><content><p>In section 594 (exception to valuation requirement: arrangement with another company), in subsection (6)(a)(i), after “Part 26” insert “or 26A”.</p></content></subparagraph><subparagraph eId="schedule-9-paragraph-33-5"><num>(5)</num><content><p>In section 616(1) (interpretation of Chapter 7), in paragraph (a) of the definition of “arrangement”, after “Part 26” insert “or 26A”.</p></content></subparagraph><subparagraph eId="schedule-9-paragraph-33-6"><num>(6)</num><content><p>In section 617 (alteration of share capital of limited company), in subsection (5)(e)(i), after “Part 26” insert “or 26A”.</p></content></subparagraph><subparagraph eId="schedule-9-paragraph-33-7"><num>(7)</num><intro><p>In section 632 (variation of class rights: saving for court’s powers under other provisions)—</p></intro><level class="para1" eId="schedule-9-paragraph-33-7-a"><num>(a)</num><content><p>in the entry for Part 26, after “reconstructions” insert “: general”;</p></content></level><level class="para1" eId="schedule-9-paragraph-33-7-b"><num>(b)</num><content><p><mod>after that entry (but before the “or”) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="double"><blockList class="unordered none" ukl:Name="UnorderedList" ukl:Decoration="none"><item><p>Part 26A (arrangements and reconstructions: companies in financial difficulty),</p></item></blockList></quotedStructure><inline name="appendText">.</inline></mod></p></content></level></subparagraph><subparagraph eId="schedule-9-paragraph-33-8"><num>(8)</num><intro><p>In section 641 (circumstances in which a company may reduce its share capital)—</p></intro><level class="para1" eId="schedule-9-paragraph-33-8-a"><num>(a)</num><content><p>in subsection (2C), in the definition of “scheme”, after “Part 26” insert “or 26A”;</p></content></level><level class="para1" eId="schedule-9-paragraph-33-8-b"><num>(b)</num><content><p>in subsection (7), for the words from “the phrase” to “Part 26”” substitute “the phrases “sanctioned by the court under Part 26” and “sanctioned by the court under Part 26A””.</p></content></level></subparagraph><subparagraph eId="schedule-9-paragraph-33-9"><num>(9)</num><intro><p>In section 649 (registration of order and statement of capital), in subsection (3)—</p></intro><level class="para1" eId="schedule-9-paragraph-33-9-a"><num>(a)</num><content><p>in paragraph (a), after “reconstructions” insert “: general”;</p></content></level><level class="para1" eId="schedule-9-paragraph-33-9-b"><num>(b)</num><content><p><mod>after that paragraph insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="double"><level class="para1"><num>(aa)</num><intro><p>in the case of a reduction of share capital that forms part of a compromise or arrangement sanctioned by the court under Part 26A (arrangements and reconstructions: companies in financial difficulty)—</p></intro><level class="para2"><num>(i)</num><content><p>in the case of any company other than one to which sub-paragraph (ii) applies, on delivery of the order and statement of capital to the registrar;</p></content></level><level class="para2"><num>(ii)</num><content><p>in the case of an overseas company that is not required to register particulars under section 1046, on publication of the order and statement of capital in the Gazette;</p></content></level><level class="para2"><num>(iii)</num><content><p>in either case, if the court so orders, on the registration of the order and statement of capital;</p></content></level></level></quotedStructure><inline name="appendText">;</inline></mod></p></content></level><level class="para1" eId="schedule-9-paragraph-33-9-c"><num>(c)</num><content><p>in paragraph (b), for “any other case” substitute “any case not falling within paragraph (a) or (aa)”.</p></content></level></subparagraph></paragraph><paragraph eId="schedule-9-paragraph-34" class="schProv1"><num>34</num><content><p>In section 681 (unconditional exceptions to prohibition against financial assistance), in subsection (2)(e), after “Part 26” insert “or 26A”.</p></content></paragraph><paragraph eId="schedule-9-paragraph-35" class="schProv1"><num>35</num><subparagraph eId="schedule-9-paragraph-35-1"><num>(1)</num><content><p>Part 26 (arrangements and reconstructions) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-9-paragraph-35-2"><num>(2)</num><content><p>The heading becomes “<inline name="smallCaps">Arrangements and reconstructions: general</inline>”.</p></content></subparagraph><subparagraph eId="schedule-9-paragraph-35-3"><num>(3)</num><content><p><mod>In section 896, at the end insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="double"><subsection><num>(4)</num><content><p>This section is subject to section 899A (moratorium debts, etc).</p></content></subsection></quotedStructure></mod></p></content></subparagraph><subparagraph eId="schedule-9-paragraph-35-4"><num>(4)</num><intro><p>In section 899 (court sanction for compromise or arrangement)—</p></intro><level class="para1" eId="schedule-9-paragraph-35-4-a"><num>(a)</num><content><p><mod>after subsection (1) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="double"><subsection><num>(1A)</num><content><p>Subsection (1) is subject to section 899A (moratorium debts, etc).</p></content></subsection></quotedStructure><inline name="appendText">;</inline></mod></p></content></level><level class="para1" eId="schedule-9-paragraph-35-4-b"><num>(b)</num><content><p>omit subsection (5).</p></content></level></subparagraph><subparagraph eId="schedule-9-paragraph-35-5"><num>(5)</num><content><p><mod>After section 899 insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="double"><hcontainer name="crossheading" ukl:Name="Pblock"><heading>Special cases</heading><section><num>899A</num><heading>Moratorium debts, etc</heading><subsection><num>(1)</num><intro><p>This section applies where—</p></intro><level class="para1"><num>(a)</num><content><p>an application under section 896 in respect of a compromise or arrangement is made before the end of the period of 12 weeks beginning with the day after the end of any moratorium for the company under Part A1 of the Insolvency Act 1986 or Part 1A of the Insolvency (Northern Ireland) Order 1989 (<ref eId="c00106" href="http://www.legislation.gov.uk/id/nisi/1989/2405">S.I. 1989/2405 (N.I. 19)</ref>), and</p></content></level><level class="para1"><num>(b)</num><content><p>the creditors with whom the compromise or arrangement is proposed include any relevant creditors (see subsection (2)).</p></content></level></subsection><subsection><num>(2)</num><intro><p>In this section “relevant creditor” means—</p></intro><level class="para1"><num>(a)</num><content><p>a creditor in respect of a moratorium debt, or</p></content></level><level class="para1"><num>(b)</num><content><p>a creditor in respect of a priority pre-moratorium debt.</p></content></level></subsection><subsection><num>(3)</num><content><p>The relevant creditors may not participate in the meeting summoned under section 896.</p></content></subsection><subsection><num>(4)</num><intro><p>For the purposes of section 897 (statement to be circulated or made available)—</p></intro><level class="para1"><num>(a)</num><content><p>the requirement in section 897(1)(a) is to be read as including a requirement to send each relevant creditor a statement complying with section 897;</p></content></level><level class="para1"><num>(b)</num><content><p>any reference to creditors entitled to attend the meeting summoned under section 896 includes a reference to relevant creditors.</p></content></level></subsection><subsection><num>(5)</num><content><p>The court may not sanction the compromise or arrangement under section 899 if it includes provision in respect of any relevant creditor who has not agreed to it.</p></content></subsection><subsection><num>(6)</num><intro><p>In this section—</p></intro><hcontainer name="definition"><intro><p>“moratorium debt”—</p></intro><level class="para1"><num>(a)</num><content><p>in the case of a moratorium under Part A1 of the Insolvency Act 1986, has the same meaning as in section 174A of that Act;</p></content></level><level class="para1"><num>(b)</num><content><p>in the case of a moratorium under Part 1A of the Insolvency (Northern Ireland) Order 1989, has the same meaning as in Article 148A of that Order;</p></content></level></hcontainer><hcontainer name="definition"><intro><p>“priority pre-moratorium debt”—</p></intro><level class="para1"><num>(a)</num><content><p>in the case of a moratorium under Part A1 of the Insolvency Act 1986, has the same meaning as in section 174A of that Act;</p></content></level><level class="para1"><num>(b)</num><content><p>in the case of a moratorium under Part 1A of the Insolvency (Northern Ireland) Order 1989, has the same meaning as in Article 148A of that Order.</p></content></level></hcontainer></subsection></section></hcontainer></quotedStructure></mod></p></content></subparagraph></paragraph><paragraph eId="schedule-9-paragraph-36" class="schProv1"><num>36</num><subparagraph eId="schedule-9-paragraph-36-1"><num>(1)</num><content><p>Part 27 (mergers and divisions of public companies) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-9-paragraph-36-2"><num>(2)</num><intro><p>In section 903 (relationship of Part 27 to Part 26)—</p></intro><level class="para1" eId="schedule-9-paragraph-36-2-a"><num>(a)</num><content><p>in the heading, for “<b>Part 26</b>” substitute “<b>Parts 26 and 26A</b>”;</p></content></level><level class="para1" eId="schedule-9-paragraph-36-2-b"><num>(b)</num><content><p>in subsection (1), for “Part 26 (arrangements and reconstructions)” substitute “Part 26 (arrangements and reconstructions: general) or Part 26A (arrangements and reconstructions: companies in financial difficulty)”;</p></content></level><level class="para1" eId="schedule-9-paragraph-36-2-c"><num>(c)</num><content><p>in subsections (2) and (3), for “Part 26” substitute “Parts 26 and 26A”.</p></content></level></subparagraph><subparagraph eId="schedule-9-paragraph-36-3"><num>(3)</num><content><p>In section 907 (approval of members of merging companies), in subsection (2), after “917” insert “, 917A”.</p></content></subparagraph><subparagraph eId="schedule-9-paragraph-36-4"><num>(4)</num><intro><p>In section 908 (directors’ explanatory report (merger))—</p></intro><level class="para1" eId="schedule-9-paragraph-36-4-a"><num>(a)</num><content><p><mod>in subsection (2), for paragraph (a) (but not the “and” following it) substitute—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="double"><level class="para1"><num>(a)</num><content><p>the required statement explaining the effect of the compromise or arrangement,</p></content></level></quotedStructure><inline name="appendText">;</inline></mod></p></content></level><level class="para1" eId="schedule-9-paragraph-36-4-b"><num>(b)</num><content><p><mod>after that subsection insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="double"><subsection><num>(2A)</num><intro><p>In subsection (2) “the required statement explaining the effect of the compromise or arrangement” means—</p></intro><level class="para1"><num>(a)</num><content><p>in a case where a meeting is summoned under section 896 in relation to the compromise or arrangement, the statement required by section 897;</p></content></level><level class="para1"><num>(b)</num><content><p>in a case where a meeting is summoned under section 901C in relation to the compromise or arrangement, the statement required by section 901D.</p></content></level></subsection></quotedStructure></mod></p></content></level></subparagraph><subparagraph eId="schedule-9-paragraph-36-5"><num>(5)</num><intro><p>In section 912 (approval of articles of new transferee company (merger))—</p></intro><level class="para1" eId="schedule-9-paragraph-36-5-a"><num>(a)</num><content><p>the wording of the section becomes subsection (1) of that section;</p></content></level><level class="para1" eId="schedule-9-paragraph-36-5-b"><num>(b)</num><content><p><mod>at the end of that subsection insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="double"><p>This is subject to subsection (2).</p></quotedStructure><inline name="appendText">;</inline></mod></p></content></level><level class="para1" eId="schedule-9-paragraph-36-5-c"><num>(c)</num><content><p><mod>after that subsection insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="double"><subsection><num>(2)</num><content><p>In the case of a compromise or arrangement to be sanctioned under Part 26A, it is not necessary for the articles of the transferee company (or a draft of them) to be approved by ordinary resolution of the company in respect of which the compromise or arrangement is proposed.</p></content></subsection></quotedStructure></mod></p></content></level></subparagraph><subparagraph eId="schedule-9-paragraph-36-6"><num>(6)</num><intro><p>In section 915 (circumstances in which certain particulars and reports not required (merger))—</p></intro><level class="para1" eId="schedule-9-paragraph-36-6-a"><num>(a)</num><content><p>in subsection (3), for “Section 897” substitute “In a case where a meeting has been summoned under section 896 in relation to the compromise or arrangement, section 897”;</p></content></level><level class="para1" eId="schedule-9-paragraph-36-6-b"><num>(b)</num><content><p><mod>after that subsection insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="double"><subsection><num>(3A)</num><content><p>In a case where a meeting has been summoned under section 901C in relation to the compromise or arrangement, section 901D (explanatory statement to be circulated or made available) does not apply.</p></content></subsection></quotedStructure></mod></p></content></level></subparagraph><subparagraph eId="schedule-9-paragraph-36-7"><num>(7)</num><content><p>In section 915A (other circumstances in which reports and inspection not required (merger)), in subsection (5), after “section 900(2)” insert “or, as the case may be, section 901J(2)”.</p></content></subparagraph><subparagraph eId="schedule-9-paragraph-36-8"><num>(8)</num><content><p><mod>Before section 918 (but after the heading “<i>Other exceptions</i>”) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="double"><section><num>917A</num><heading>Other circumstances in which meeting of members of transferor company not required (merger)</heading><content><p>In the case of a compromise or arrangement to be sanctioned under Part 26A, it is not necessary for the scheme to be approved by the members of the company in respect of which the compromise or arrangement is proposed.</p></content></section></quotedStructure></mod></p></content></subparagraph><subparagraph eId="schedule-9-paragraph-36-9"><num>(9)</num><intro><p>In section 918A (agreement to dispense with reports etc (merger))—</p></intro><level class="para1" eId="schedule-9-paragraph-36-9-a"><num>(a)</num><content><p>in subsection (2), for “the application to the court under section 896” substitute “the relevant application”;</p></content></level><level class="para1" eId="schedule-9-paragraph-36-9-b"><num>(b)</num><content><p><mod>after that subsection insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="double"><subsection><num>(3)</num><intro><p>In subsection (2) “the relevant application” means—</p></intro><level class="para1"><num>(a)</num><content><p>in the case of a compromise or arrangement to be sanctioned under Part 26, the application to the court under section 896;</p></content></level><level class="para1"><num>(b)</num><content><p>in the case of a compromise or arrangement to be sanctioned under Part 26A, the application to the court under section 901C(1).</p></content></level></subsection></quotedStructure></mod></p></content></level></subparagraph><subparagraph eId="schedule-9-paragraph-36-10"><num>(10)</num><intro><p>In section 922 (approval of members of companies involved in the division)—</p></intro><level class="para1" eId="schedule-9-paragraph-36-10-a"><num>(a)</num><content><p>in subsection (1), for “compromise or arrangement” substitute “scheme”;</p></content></level><level class="para1" eId="schedule-9-paragraph-36-10-b"><num>(b)</num><content><p>in subsection (2), after “931” insert “, 931A”.</p></content></level></subparagraph><subparagraph eId="schedule-9-paragraph-36-11"><num>(11)</num><intro><p>In section 923 (directors’ explanatory report (division))—</p></intro><level class="para1" eId="schedule-9-paragraph-36-11-a"><num>(a)</num><content><p><mod>in subsection (2), for paragraph (a) (but not the “and” following it) substitute—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="double"><level class="para1"><num>(a)</num><content><p>the required statement explaining the effect of the compromise or arrangement,</p></content></level></quotedStructure><inline name="appendText">;</inline></mod></p></content></level><level class="para1" eId="schedule-9-paragraph-36-11-b"><num>(b)</num><content><p><mod>after that subsection insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="double"><subsection><num>(2A)</num><intro><p>In subsection (2) “the required statement explaining the effect of the compromise or arrangement” means—</p></intro><level class="para1"><num>(a)</num><content><p>in a case where a meeting is summoned under section 896 in relation to the compromise or arrangement, the statement required by section 897;</p></content></level><level class="para1"><num>(b)</num><content><p>in a case where a meeting is summoned under section 901C in relation to the compromise or arrangement, the statement required by section 901D.</p></content></level></subsection></quotedStructure></mod></p></content></level></subparagraph><subparagraph eId="schedule-9-paragraph-36-12"><num>(12)</num><content><p>In section 925 (supplementary accounting statement (division)), in subsection (1)(b), after “931” insert “, 931A”.</p></content></subparagraph><subparagraph eId="schedule-9-paragraph-36-13"><num>(13)</num><intro><p>In section 928 (approval of articles of new transferee company (division))—</p></intro><level class="para1" eId="schedule-9-paragraph-36-13-a"><num>(a)</num><content><p>the wording of the section becomes subsection (1) of that section;</p></content></level><level class="para1" eId="schedule-9-paragraph-36-13-b"><num>(b)</num><content><p><mod>after that subsection insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="double"><subsection><num>(2)</num><content><p>Subsection (1) does not apply in the case of a compromise or arrangement to be sanctioned under Part 26A.</p></content></subsection></quotedStructure></mod></p></content></level></subparagraph><subparagraph eId="schedule-9-paragraph-36-14"><num>(14)</num><content><p><mod>Before section 932 (but after the heading “<i>Other exceptions</i>”) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="double"><section><num>931A</num><heading>Other circumstances in which meeting of members of transferor company not required (division)</heading><content><p>In the case of a compromise or arrangement to be sanctioned under Part 26A, it is not necessary for the scheme to be approved by the members of the transferor company.</p></content></section></quotedStructure></mod></p></content></subparagraph><subparagraph eId="schedule-9-paragraph-36-15"><num>(15)</num><intro><p>In section 933 (agreement to dispense with reports etc (division))—</p></intro><level class="para1" eId="schedule-9-paragraph-36-15-a"><num>(a)</num><content><p>in subsection (3), for “the application to the court under section 896” substitute “the relevant application”;</p></content></level><level class="para1" eId="schedule-9-paragraph-36-15-b"><num>(b)</num><content><p><mod>after that subsection insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="double"><subsection><num>(4)</num><intro><p>In subsection (3) “the relevant application” means—</p></intro><level class="para1"><num>(a)</num><content><p>in the case of a compromise or arrangement to be sanctioned under Part 26, the application to the court under section 896;</p></content></level><level class="para1"><num>(b)</num><content><p>in the case of a compromise or arrangement to be sanctioned under Part 26A, the application to the court under section 901C(1).</p></content></level></subsection></quotedStructure></mod></p></content></level></subparagraph><subparagraph eId="schedule-9-paragraph-36-16"><num>(16)</num><content><p>In section 939 (court to fix date for transfer of undertaking etc of transferor company), in subsection (1)(b), after “section 900” insert “or, as the case may be, section 901J”.</p></content></subparagraph><subparagraph eId="schedule-9-paragraph-36-17"><num>(17)</num><intro><p>In section 940 (liability of transferee companies for each other’s defaults)—</p></intro><level class="para1" eId="schedule-9-paragraph-36-17-a"><num>(a)</num><content><p>in subsection (2), after “If” insert “, in the case of a compromise or arrangement to be sanctioned under Part 26,”;</p></content></level><level class="para1" eId="schedule-9-paragraph-36-17-b"><num>(b)</num><content><p><mod>after that subsection insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="double"><subsection><num>(2A)</num><content><p>If, in the case of a compromise or arrangement to be sanctioned under Part 26A, a number representing 75% in value of the creditors or any class of creditors of the transferor company, present and voting either in person or by proxy at a meeting summoned for the purposes of agreeing to the scheme, so agree, subsection (1) does not apply in relation to the liabilities owed to the creditors or that class of creditors.</p></content></subsection></quotedStructure></mod></p></content></level></subparagraph></paragraph><paragraph eId="schedule-9-paragraph-37" class="schProv1"><num>37</num><subparagraph eId="schedule-9-paragraph-37-1"><num>(1)</num><content><p>In Part 31 (dissolution and restoration to the register), Chapter 1 (striking off) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-9-paragraph-37-2"><num>(2)</num><content><p>In section 1005 (circumstances in which application for voluntary striking off may not be made: other proceedings not concluded), in subsection (1)(a), after “Part 26” insert “or 26A”.</p></content></subparagraph><subparagraph eId="schedule-9-paragraph-37-3"><num>(3)</num><content><p>In section 1009 (circumstances in which application for voluntary striking off to be withdrawn), in subsection (1)(b), after “Part 26” insert “or 26A”.</p></content></subparagraph></paragraph><paragraph eId="schedule-9-paragraph-38" class="schProv1"><num>38</num><content><p>In section 1078 (documents subject to disclosure requirements), in subsection (3), for “section 899 or 900” substitute “section 899, 900, 901F or 901J”.</p></content></paragraph><paragraph eId="schedule-9-paragraph-39" class="schProv1"><num>39</num><subparagraph eId="schedule-9-paragraph-39-1"><num>(1)</num><content><p>Schedule 8 (index of defined expressions) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-9-paragraph-39-2"><num>(2)</num><content><p><mod>In the entry for “arrangement”, after the entry for Part 26 insert—<quotedStructure startQuote="“" endQuote="”" uk:context="schedule" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="schedule" ukl:Format="double"><tblock class="table" ukl:Orientation="portrait"><foreign><default:table xmlns="http://www.w3.org/1999/xhtml"><default:col span="1" style="width:50%"/><default:col span="1" style="width:50%"/><default:tbody><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">—in Part 26A</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">section 901A(4)</p></default:td></default:tr></default:tbody></default:table></foreign></tblock></quotedStructure><inline name="appendText">.</inline></mod></p></content></subparagraph><subparagraph eId="schedule-9-paragraph-39-3"><num>(3)</num><content><p><mod>In the entry for “company”, after the entry for Part 26 insert—<quotedStructure startQuote="“" endQuote="”" uk:context="schedule" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="schedule" ukl:Format="double"><tblock class="table" ukl:Orientation="portrait"><foreign><default:table xmlns="http://www.w3.org/1999/xhtml"><default:col span="1" style="width:50%"/><default:col span="1" style="width:50%"/><default:tbody><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">—in Part 26A</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">section 901A(4)</p></default:td></default:tr></default:tbody></default:table></foreign></tblock></quotedStructure><inline name="appendText">.</inline></mod></p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Housing and Regeneration Act 2008</heading><paragraph eId="schedule-9-paragraph-40" class="schProv1"><num>40</num><content><p><mod>In Part 2 of the Housing and Regeneration Act 2008 (regulation of social housing), in section 160 (company: arrangements and reconstructions), at the end insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="double"><subsection><num>(7)</num><content><p>The registered provider must notify the regulator of any order under section 901F of the Companies Act 2006 (court sanction for compromise or arrangement).</p></content></subsection><subsection><num>(8)</num><content><p>An order under section 901F of the Companies Act 2006 does not take effect until the registered provider has confirmed to the registrar of companies that the regulator has been notified.</p></content></subsection><subsection><num>(9)</num><content><p>The registered provider must notify the regulator of any order under section 901J of the Companies Act 2006 (powers of court to facilitate reconstruction or amalgamation).</p></content></subsection><subsection><num>(10)</num><content><p>The requirement in section 901J(6) of the Companies Act 2006 (sending copy of order to registrar) is satisfied only if the copy is accompanied by confirmation that the regulator has been notified.</p></content></subsection></quotedStructure></mod></p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Corporation Tax Act 2009</heading><paragraph eId="schedule-9-paragraph-41" class="schProv1"><num>41</num><content><p>In section 1319 of the Corporation Tax Act 2009 (other definitions), in paragraph (b) of the definition of “statutory insolvency arrangement”, after “Part 26” insert “or 26A”.</p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Corporation Tax Act 2010</heading><paragraph eId="schedule-9-paragraph-42" class="schProv1"><num>42</num><content><p>The Corporation Tax Act 2010 is amended as follows.</p></content></paragraph><paragraph eId="schedule-9-paragraph-43" class="schProv1"><num>43</num><subparagraph eId="schedule-9-paragraph-43-1"><num>(1)</num><content><p>Part 7ZA (restrictions on obtaining certain deductions) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-9-paragraph-43-2"><num>(2)</num><content><p>In section 269ZH (meaning of “insolvency procedures”), in subsection (5)(a), after “Part 26” insert “or 26A”.</p></content></subparagraph><subparagraph eId="schedule-9-paragraph-43-3"><num>(3)</num><content><p>In section 269ZY (meaning of “relevant reversal credit”), in subsection (8)(b), after “Part 26” insert “or 26A”.</p></content></subparagraph></paragraph><paragraph eId="schedule-9-paragraph-44" class="schProv1"><num>44</num><content><p>In Part 14 (change in company ownership), in section 724A (disregard of change in parent company), in subsection (7)(a), after “Part 26” insert “or 26A”.</p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Third Parties (Rights against Insurers) Act 2010</heading><paragraph eId="schedule-9-paragraph-45" class="schProv1"><num>45</num><content><p>In section 6 of the Third Parties (Rights against Insurers) Act 2010 (corporate bodies etc), in subsection (1), after “section 899” insert “or 901F”.</p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Housing (Scotland) Act <ref eId="c00107" href="http://www.legislation.gov.uk/id/asp/2010/17">2010 (asp 17)</ref></heading><paragraph eId="schedule-9-paragraph-46" class="schProv1"><num>46</num><content><p>Part 8 of the Housing (Scotland) Act 2010 (registered social landlords: organisational change etc) is amended as follows.</p></content></paragraph><paragraph eId="schedule-9-paragraph-47" class="schProv1"><num>47</num><subparagraph eId="schedule-9-paragraph-47-1"><num>(1)</num><content><p>Section 100A (restructuring by company: proposed restructuring) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-9-paragraph-47-2"><num>(2)</num><intro><p>In subsection (1)—</p></intro><level class="para1" eId="schedule-9-paragraph-47-2-a"><num>(a)</num><content><p>for “This section applies” substitute “Subsections (2) and (3) apply”;</p></content></level><level class="para1" eId="schedule-9-paragraph-47-2-b"><num>(b)</num><content><p>omit the “and” after paragraph (b);</p></content></level><level class="para1" eId="schedule-9-paragraph-47-2-c"><num>(c)</num><content><p><mod>for paragraph (c) substitute—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="double"><level class="para1"><num>(c)</num><content><p>the restructuring will result in a tenant under a Scottish secure tenancy ceasing to be a tenant of the company in respect of which the order is made, and</p></content></level><level class="para1"><num>(d)</num><content><p>the company is not being wound up and is not in administration.</p></content></level></quotedStructure></mod></p></content></level></subparagraph><subparagraph eId="schedule-9-paragraph-47-3"><num>(3)</num><content><p>In subsection (3), for “this section” substitute “this subsection”.</p></content></subparagraph><subparagraph eId="schedule-9-paragraph-47-4"><num>(4)</num><content><p><mod>After subsection (3) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="double"><subsection><num>(4)</num><intro><p>Subsections (5) and (6) apply where—</p></intro><level class="para1"><num>(a)</num><content><p>a court order is made in respect of the company under section 901C(1) of the Companies Act 2006,</p></content></level><level class="para1"><num>(b)</num><content><p>the meeting summoned by the court order is to agree a restructuring of a type mentioned in section 901J(1) of that Act,</p></content></level><level class="para1"><num>(c)</num><content><p>the restructuring will result in a tenant under a Scottish secure tenancy ceasing to be a tenant of the company in respect of which the order is made, and</p></content></level><level class="para1"><num>(d)</num><content><p>the company is not being wound up and is not in administration.</p></content></level></subsection><subsection><num>(5)</num><content><p>The company must comply with sections 115 to 120 (as applied by subsection (6)) in relation to the proposed restructuring.</p></content></subsection><subsection><num>(6)</num><content><p><mod>Sections 115 to 120 apply in relation to a proposed restructuring to which this subsection applies as they apply in relation to a proposed disposal to which section 107(4) applies, subject to the modification that section 115A(2) has effect as if, for paragraph (b), there were substituted—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="double"><level class="para1"><num>(b)</num><content><p>before the meeting summoned by the court order under section 901C of the Companies Act 2006 takes place,</p></content></level></quotedStructure></mod></p></content></subsection></quotedStructure><inline name="appendText">.</inline></mod></p></content></subparagraph></paragraph><paragraph eId="schedule-9-paragraph-48" class="schProv1"><num>48</num><subparagraph eId="schedule-9-paragraph-48-1"><num>(1)</num><content><p>Section 101 (restructuring of company) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-9-paragraph-48-2"><num>(2)</num><content><p><mod>After subsection (1) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="double"><subsection><num>(1A)</num><intro><p>This section also applies where—</p></intro><level class="para1"><num>(a)</num><content><p>a court order is made in respect of a company under section 901F or 901J of the Companies Act 2006, and</p></content></level><level class="para1"><num>(b)</num><content><p>the restructuring to which the order relates is of a type mentioned in section 901J(1) of that Act.</p></content></level></subsection></quotedStructure></mod></p></content></subparagraph><subparagraph eId="schedule-9-paragraph-48-3"><num>(3)</num><intro><p>In subsection (2)—</p></intro><level class="para1" eId="schedule-9-paragraph-48-3-a"><num>(a)</num><content><p>after “subsection (1)” insert “or (1A)”;</p></content></level><level class="para1" eId="schedule-9-paragraph-48-3-b"><num>(b)</num><content><p>in paragraph (b), after “section 900(6)” insert “or (as the case may be) section 901J(6)”.</p></content></level></subparagraph><subparagraph eId="schedule-9-paragraph-48-4"><num>(4)</num><content><p>In subsection (3)(a), after “section 100A(3)” insert “or (6) (as the case may be)”.</p></content></subparagraph><subparagraph eId="schedule-9-paragraph-48-5"><num>(5)</num><content><p>In subsection (5), after “section 900” insert “or 901J”.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Financial Services (Banking Reform) Act 2013</heading><paragraph eId="schedule-9-paragraph-49" class="schProv1"><num>49</num><subparagraph eId="schedule-9-paragraph-49-1"><num>(1)</num><content><p>Part 6 of the Financial Services (Banking Reform) Act 2013 (special administration for operators of certain infrastructure systems) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-9-paragraph-49-2"><num>(2)</num><intro><p>In section 111 (financial market infrastructure administration)—</p></intro><level class="para1" eId="schedule-9-paragraph-49-2-a"><num>(a)</num><content><p>omit the “and” after paragraph (a), and</p></content></level><level class="para1" eId="schedule-9-paragraph-49-2-b"><num>(b)</num><content><p><mod>after paragraph (b) insert <quotedText startQuote="“">, and</quotedText><quotedStructure endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="double"><level class="para1"><num>(c)</num><content><p>confers power on the Bank of England to participate in proceedings under Part 26A of the Companies Act 2006 (arrangements and reconstructions: companies in financial difficulty).</p></content></level></quotedStructure></mod></p></content></level></subparagraph><subparagraph eId="schedule-9-paragraph-49-3"><num>(3)</num><content><p><mod>After section 124 insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="double"><hcontainer name="crossheading" ukl:Name="Pblock"><heading>Powers to participate in Part 26A proceedings</heading><section><num>124A</num><heading>Powers of Bank to participate in Part 26A proceedings</heading><subsection><num>(1)</num><content><p>This section applies where Part 26A of the Companies Act 2006 (“the 2006 Act”) (arrangements and reconstructions: companies in financial difficulty) applies in relation to an infrastructure company.</p></content></subsection><subsection><num>(2)</num><intro><p>A relevant applicant must give notice to the Bank of England of—</p></intro><level class="para1"><num>(a)</num><content><p>any application which the relevant applicant intends to make under section 901C(1) of the 2006 Act, and</p></content></level><level class="para1"><num>(b)</num><content><p>any application which the relevant applicant believes a creditor or member of the company has made, or intends to make, under section 901C(1) of that Act in relation to the company.</p></content></level></subsection><subsection><num>(3)</num><content><p>A relevant applicant may not make an application under section 901C(1) of the 2006 Act in relation to the company without the consent of the Bank of England.</p></content></subsection><subsection><num>(4)</num><intro><p>In this section “relevant applicant”, in relation to a company, means—</p></intro><level class="para1"><num>(a)</num><content><p>the company;</p></content></level><level class="para1"><num>(b)</num><content><p>if the company is being wound up, the liquidator;</p></content></level><level class="para1"><num>(c)</num><content><p>if the company is in administration, the administrator.</p></content></level></subsection><subsection><num>(5)</num><content><p>The Bank of England is entitled to be heard at any hearing of an application made under section 901C or 901F of the 2006 Act in relation to the company.</p></content></subsection><subsection><num>(6)</num><content><p>Any notice or other document required to be sent to a creditor of the company must also be sent to the Bank of England.</p></content></subsection><subsection><num>(7)</num><intro><p>A person appointed for the purpose by the Bank of England is entitled—</p></intro><level class="para1"><num>(a)</num><content><p>to attend any meeting of creditors of the company summoned under section 901C of the 2006 Act;</p></content></level><level class="para1"><num>(b)</num><content><p>to make representations as to any matter for decision at such a meeting.</p></content></level></subsection><subsection><num>(8)</num><content><p>Sections 197, 198 and 202A of the Banking Act 2009, and sections 201 and 202 of that Act, so far as relating to those sections, apply in relation to a failure by an infrastructure company to comply with subsection (2) or (3) above as they apply in relation to a compliance failure within the meaning of Part 5 of that Act.</p></content></subsection></section></hcontainer></quotedStructure></mod></p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Co-operative and Community Benefit Societies Act 2014</heading><paragraph eId="schedule-9-paragraph-50" class="schProv1"><num>50</num><content><p><mod>In section 118 of the Co-operative and Community Benefit Societies Act 2014 (power to apply provisions about company arrangements and administration in relation to registered societies), in subsection (2), after paragraph (c) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="double"><level class="para1"><num>(d)</num><content><p>Part 26A of that Act (compromise or arrangement with creditors where company in financial difficulty).</p></content></level></quotedStructure></mod></p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Mutuals’ Deferred Shares Act 2015</heading><paragraph eId="schedule-9-paragraph-51" class="schProv1"><num>51</num><content><p>In section 2 of the Mutuals’ Deferred Shares Act 2015 (restriction on voting rights), in subsection (2)(b), after “section 896” insert “or 901C”.</p></content></paragraph></hcontainer></part></hcontainer>
<part xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" eId="schedule-9-part-1"><num>PART 1</num><heading>Main provisions</heading><paragraph eId="schedule-9-paragraph-1" class="schProv1"><num>1</num><content><p><mod>In the Companies Act 2006, after Part 26 insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="double"><part><num>PART 26A</num><heading>Arrangements and reconstructions: companies in financial difficulty</heading><hcontainer name="crossheading" ukl:Name="Pblock"><heading>Application of this Part</heading><section><num>901A</num><heading>Application of this Part</heading><subsection><num>(1)</num><content><p>The provisions of this Part apply where conditions A and B are met in relation to a company.</p></content></subsection><subsection><num>(2)</num><content><p>Condition A is that the company has encountered, or is likely to encounter, financial difficulties that are affecting, or will or may affect, its ability to carry on business as a going concern.</p></content></subsection><subsection><num>(3)</num><intro><p>Condition B is that—</p></intro><level class="para1"><num>(a)</num><intro><p>a compromise or arrangement is proposed between the company and—</p></intro><level class="para2"><num>(i)</num><content><p>its creditors, or any class of them, or</p></content></level><level class="para2"><num>(ii)</num><content><p>its members, or any class of them, and</p></content></level></level><level class="para1"><num>(b)</num><content><p>the purpose of the compromise or arrangement is to eliminate, reduce or prevent, or mitigate the effect of, any of the financial difficulties mentioned in subsection (2).</p></content></level></subsection><subsection><num>(4)</num><intro><p>In this Part—</p></intro><hcontainer name="definition"><content><p>“arrangement” includes a reorganisation of the company’s share capital by the consolidation of shares of different classes or by the division of shares into shares of different classes, or by both of those methods;</p></content></hcontainer><hcontainer name="definition"><intro><p>“company”—</p></intro><level class="para1"><num>(a)</num><content><p>in section 901J (powers of court to facilitate reconstruction or amalgamation) means a company within the meaning of this Act, and</p></content></level><level class="para1"><num>(b)</num><content><p>elsewhere in this Part means any company liable to be wound up under the Insolvency Act 1986 or the Insolvency (Northern Ireland) Order 1989 (<ref eId="c00099" href="http://www.legislation.gov.uk/id/nisi/1989/2405">S.I. 1989/2405 (N.I. 19)</ref>).</p></content></level></hcontainer></subsection><subsection><num>(5)</num><content><p>The provisions of this Part have effect subject to Part 27 (mergers and divisions of public companies) where that Part applies (see sections 902 and 903).</p></content></subsection></section><section><num>901B</num><heading>Power to exclude companies providing financial services, etc</heading><subsection><num>(1)</num><intro><p>The Secretary of State may by regulations provide that this Part does not apply—</p></intro><level class="para1"><num>(a)</num><content><p>where the company in respect of which a compromise or arrangement is proposed is an authorised person, or an authorised person of a specified description;</p></content></level><level class="para1"><num>(b)</num><intro><p>where—</p></intro><level class="para2"><num>(i)</num><content><p>a compromise or arrangement is proposed between a company, or a company of a specified description, and any creditors of the company, and</p></content></level><level class="para2"><num>(ii)</num><content><p>those creditors consist of or include creditors of a specified description.</p></content></level></level></subsection><subsection><num>(2)</num><intro><p>In this section—</p></intro><hcontainer name="definition"><content><p>“authorised person” has the same meaning as in the Financial Services and Markets Act 2000 (see section 31 of that Act);</p></content></hcontainer><hcontainer name="definition"><content><p>“specified” means specified in the regulations.</p></content></hcontainer></subsection><subsection><num>(3)</num><content><p>Regulations under this section are subject to affirmative resolution procedure.</p></content></subsection></section></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading>Meeting of creditors or members</heading><section><num>901C</num><heading>Court order for holding of meeting</heading><subsection><num>(1)</num><content><p>The court may, on an application under this subsection, order a meeting of the creditors or class of creditors, or of the members of the company or class of members (as the case may be), to be summoned in such manner as the court directs.</p></content></subsection><subsection><num>(2)</num><intro><p>An application under subsection (1) may be made by—</p></intro><level class="para1"><num>(a)</num><content><p>the company,</p></content></level><level class="para1"><num>(b)</num><content><p>any creditor or member of the company,</p></content></level><level class="para1"><num>(c)</num><content><p>if the company is being wound up, the liquidator, or</p></content></level><level class="para1"><num>(d)</num><content><p>if the company is in administration, the administrator.</p></content></level></subsection><subsection><num>(3)</num><content><p>Every creditor or member of the company whose rights are affected by the compromise or arrangement must be permitted to participate in a meeting ordered to be summoned under subsection (1).</p></content></subsection><subsection><num>(4)</num><content><p>But subsection (3) does not apply in relation to a class of creditors or members of the company if, on an application under this subsection, the court is satisfied that none of the members of that class has a genuine economic interest in the company.</p></content></subsection><subsection><num>(5)</num><content><p>An application under subsection (4) is to be made by the person who made the application under subsection (1) in respect of the compromise or arrangement.</p></content></subsection><subsection><num>(6)</num><content><p>Section 323 (representation of corporations at meetings) applies to a meeting of creditors under this section as to a meeting of the company (references to a member of the company being read as references to a creditor).</p></content></subsection><subsection><num>(7)</num><content><p>This section is subject to section 901H (moratorium debts, etc).</p></content></subsection></section><section><num>901D</num><heading>Statement to be circulated or made available</heading><subsection><num>(1)</num><intro><p>Where a meeting is summoned under section 901C—</p></intro><level class="para1"><num>(a)</num><content><p>every notice summoning the meeting that is sent to a creditor or member must be accompanied by a statement complying with this section, and</p></content></level><level class="para1"><num>(b)</num><intro><p>every notice summoning the meeting that is given by advertisement must either—</p></intro><level class="para2"><num>(i)</num><content><p>include such a statement, or</p></content></level><level class="para2"><num>(ii)</num><content><p>state where and how creditors or members entitled to attend the meeting may obtain copies of such a statement.</p></content></level></level></subsection><subsection><num>(2)</num><intro><p>The statement must—</p></intro><level class="para1"><num>(a)</num><content><p>explain the effect of the compromise or arrangement, and</p></content></level><level class="para1"><num>(b)</num><intro><p>in particular, state—</p></intro><level class="para2"><num>(i)</num><content><p>any material interests of the directors of the company (whether as directors or as members or as creditors of the company or otherwise), and</p></content></level><level class="para2"><num>(ii)</num><content><p>the effect on those interests of the compromise or arrangement, in so far as it is different from the effect on the like interests of other persons.</p></content></level></level></subsection><subsection><num>(3)</num><content><p>Where the compromise or arrangement affects the rights of debenture holders of the company, the statement must give the like explanation as respects the trustees of any deed for securing the issue of the debentures as it is required to give as respects the company’s directors.</p></content></subsection><subsection><num>(4)</num><content><p>Where a notice given by advertisement states that copies of an explanatory statement can be obtained by creditors or members entitled to attend the meeting, every such creditor or member is entitled, on making application in the manner indicated by the notice, to be provided by the company with a copy of the statement free of charge.</p></content></subsection><subsection><num>(5)</num><intro><p>If a company makes default in complying with any requirement of this section, an offence is committed by—</p></intro><level class="para1"><num>(a)</num><content><p>the company, and</p></content></level><level class="para1"><num>(b)</num><content><p>every officer of the company who is in default.</p></content></level><wrapUp><p>This is subject to subsection (7).</p></wrapUp></subsection><subsection><num>(6)</num><intro><p>For this purpose the following are treated as officers of the company—</p></intro><level class="para1"><num>(a)</num><content><p>a liquidator or administrator of the company, and</p></content></level><level class="para1"><num>(b)</num><content><p>a trustee of a deed for securing the issue of debentures of the company.</p></content></level></subsection><subsection><num>(7)</num><content><p>A person is not guilty of an offence under this section if the person shows that the default was due to the refusal of a director or trustee for debenture holders to supply the necessary particulars of the director’s or (as the case may be) the trustee’s interests.</p></content></subsection><subsection><num>(8)</num><intro><p>A person guilty of an offence under this section is liable—</p></intro><level class="para1"><num>(a)</num><content><p>on conviction on indictment, to a fine;</p></content></level><level class="para1"><num>(b)</num><content><p>on summary conviction in England and Wales, to a fine;</p></content></level><level class="para1"><num>(c)</num><content><p>on summary conviction in Scotland or Northern Ireland, to a fine not exceeding the statutory maximum.</p></content></level></subsection></section><section><num>901E</num><heading>Duty of directors and trustees to provide information</heading><subsection><num>(1)</num><intro><p>It is the duty of—</p></intro><level class="para1"><num>(a)</num><content><p>any director of the company, and</p></content></level><level class="para1"><num>(b)</num><content><p>any trustee for its debenture holders,</p></content></level><wrapUp><p>to give notice to the company of such matters relating to that director or trustee as may be necessary for the purposes of section 901D (explanatory statement to be circulated or made available).</p></wrapUp></subsection><subsection><num>(2)</num><content><p>Any person who makes default in complying with this section commits an offence.</p></content></subsection><subsection><num>(3)</num><content><p>A person guilty of an offence under this section is liable on summary conviction to a fine not exceeding level 3 on the standard scale.</p></content></subsection></section></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading>Court sanction for compromise or arrangement</heading><section><num>901F</num><heading>Court sanction for compromise or arrangement</heading><subsection><num>(1)</num><content><p>If a number representing 75% in value of the creditors or class of creditors or members or class of members (as the case may be), present and voting either in person or by proxy at the meeting summoned under section 901C, agree a compromise or arrangement, the court may, on an application under this section, sanction the compromise or arrangement.</p></content></subsection><subsection><num>(2)</num><intro><p>Subsection (1) is subject to—</p></intro><level class="para1"><num>(a)</num><content><p>section 901G (sanction for compromise or arrangement where one or more classes dissent), and</p></content></level><level class="para1"><num>(b)</num><content><p>section 901H (moratorium debts, etc).</p></content></level></subsection><subsection><num>(3)</num><intro><p>An application under this section may be made by—</p></intro><level class="para1"><num>(a)</num><content><p>the company,</p></content></level><level class="para1"><num>(b)</num><content><p>any creditor or member of the company,</p></content></level><level class="para1"><num>(c)</num><content><p>if the company is being wound up, the liquidator, or</p></content></level><level class="para1"><num>(d)</num><content><p>if the company is in administration, the administrator.</p></content></level></subsection><subsection><num>(4)</num><intro><p>Where the court makes an order under this section in relation to a company that is in administration or is being wound up, the court may by the order—</p></intro><level class="para1"><num>(a)</num><content><p>provide for the appointment of the administrator or liquidator to cease to have effect;</p></content></level><level class="para1"><num>(b)</num><content><p>stay or sist all proceedings in the administration or the winding up;</p></content></level><level class="para1"><num>(c)</num><content><p>impose any requirements with respect to the conduct of the administration or the winding up which the court thinks appropriate for facilitating the compromise or arrangement.</p></content></level></subsection><subsection><num>(5)</num><intro><p>A compromise or arrangement sanctioned by the court is binding—</p></intro><level class="para1"><num>(a)</num><content><p>on all creditors or the class of creditors or on the members or class of members (as the case may be), and</p></content></level><level class="para1"><num>(b)</num><content><p>on the company or, in the case of a company in the course of being wound up, the liquidator and contributories of the company.</p></content></level></subsection><subsection><num>(6)</num><intro><p>The court’s order has no effect until a copy of it has been—</p></intro><level class="para1"><num>(a)</num><content><p>in the case of an overseas company that is not required to register particulars under section 1046, published in the Gazette, or</p></content></level><level class="para1"><num>(b)</num><content><p>in any other case, delivered to the registrar.</p></content></level></subsection></section><section><num>901G</num><heading>Sanction for compromise or arrangement where one or more classes dissent</heading><subsection><num>(1)</num><content><p>This section applies if the compromise or arrangement is not agreed by a number representing at least 75% in value of a class of creditors or (as the case may be) of members of the company (“the dissenting class”), present and voting either in person or by proxy at the meeting summoned under section 901C.</p></content></subsection><subsection><num>(2)</num><content><p>If conditions A and B are met, the fact that the dissenting class has not agreed the compromise or arrangement does not prevent the court from sanctioning it under section 901F.</p></content></subsection><subsection><num>(3)</num><content><p>Condition A is that the court is satisfied that, if the compromise or arrangement were to be sanctioned under section 901F, none of the members of the dissenting class would be any worse off than they would be in the event of the relevant alternative (see subsection (4)).</p></content></subsection><subsection><num>(4)</num><content><p>For the purposes of this section “the relevant alternative” is whatever the court considers would be most likely to occur in relation to the company if the compromise or arrangement were not sanctioned under section 901F.</p></content></subsection><subsection><num>(5)</num><content><p>Condition B is that the compromise or arrangement has been agreed by a number representing 75% in value of a class of creditors or (as the case may be) of members, present and voting either in person or by proxy at the meeting summoned under section 901C, who would receive a payment, or have a genuine economic interest in the company, in the event of the relevant alternative.</p></content></subsection><subsection><num>(6)</num><intro><p>The Secretary of State may by regulations amend this section for the purpose of—</p></intro><level class="para1"><num>(a)</num><content><p>adding to the conditions that must be met for the purposes of this section;</p></content></level><level class="para1"><num>(b)</num><content><p>removing or varying any of those conditions.</p></content></level></subsection><subsection><num>(7)</num><content><p>Regulations under subsection (6) are subject to affirmative resolution procedure.</p></content></subsection></section></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading>Special cases</heading><section><num>901H</num><heading>Moratorium debts, etc</heading><subsection><num>(1)</num><intro><p>This section applies where—</p></intro><level class="para1"><num>(a)</num><content><p>an application under section 901C(1) in respect of a compromise or arrangement is made before the end of the period of 12 weeks beginning with the day after the end of any moratorium for the company under Part A1 of the Insolvency Act 1986 or Part 1A of the Insolvency (Northern Ireland) Order 1989 (<ref eId="c00100" href="http://www.legislation.gov.uk/id/nisi/1989/2405">S.I. 1989/2405 (N.I. 19)</ref>), and</p></content></level><level class="para1"><num>(b)</num><content><p>the creditors with whom the compromise or arrangement is proposed include any relevant creditors (see subsection (2)).</p></content></level></subsection><subsection><num>(2)</num><intro><p>In this section “relevant creditor” means—</p></intro><level class="para1"><num>(a)</num><content><p>a creditor in respect of a moratorium debt, or</p></content></level><level class="para1"><num>(b)</num><content><p>a creditor in respect of a priority pre-moratorium debt.</p></content></level></subsection><subsection><num>(3)</num><content><p>The relevant creditors may not participate in the meeting summoned under section 901C.</p></content></subsection><subsection><num>(4)</num><intro><p>For the purposes of section 901D (statement to be circulated or made available)—</p></intro><level class="para1"><num>(a)</num><content><p>the requirement in section 901D(1)(a) is to be read as including a requirement to send each relevant creditor a statement complying with section 901D;</p></content></level><level class="para1"><num>(b)</num><content><p>any reference to creditors entitled to attend the meeting summoned under section 901C includes a reference to relevant creditors.</p></content></level></subsection><subsection><num>(5)</num><content><p>The court may not sanction the compromise or arrangement under section 901F if it includes provision in respect of any relevant creditor who has not agreed to it.</p></content></subsection><subsection><num>(6)</num><intro><p>In this section—</p></intro><hcontainer name="definition"><intro><p>“moratorium debt”—</p></intro><level class="para1"><num>(a)</num><content><p>in the case of a moratorium under Part A1 of the Insolvency Act 1986, has the same meaning as in section 174A of that Act;</p></content></level><level class="para1"><num>(b)</num><content><p>in the case of a moratorium under Part 1A of the Insolvency (Northern Ireland) Order 1989, has the same meaning as in Article 148A of that Order;</p></content></level></hcontainer><hcontainer name="definition"><intro><p>“priority pre-moratorium debt”—</p></intro><level class="para1"><num>(a)</num><content><p>in the case of a moratorium under Part A1 of the Insolvency Act 1986, has the same meaning as in section 174A of that Act;</p></content></level><level class="para1"><num>(b)</num><content><p>in the case of a moratorium under Part 1A of the Insolvency (Northern Ireland) Order 1989, has the same meaning as in Article 148A of that Order.</p></content></level></hcontainer></subsection></section><section><num>901I</num><heading>Pension schemes</heading><subsection><num>(1)</num><content><p>In a case where the company in respect of which a compromise or arrangement is proposed is or has been an employer in respect of an occupational pension scheme that is not a money purchase scheme, any notice or other document required to be sent to a creditor of the company must also be sent to the Pensions Regulator.</p></content></subsection><subsection><num>(2)</num><content><p>In a case where the company in respect of which a compromise or arrangement is proposed is an employer in respect of an eligible scheme, any notice or other document required to be sent to a creditor of the company must also be sent to the Board of the Pension Protection Fund (“the Board”).</p></content></subsection><subsection><num>(3)</num><intro><p>The Secretary of State may by regulations provide that, in a case where—</p></intro><level class="para1"><num>(a)</num><content><p>the company in respect of which a compromise or arrangement is proposed is an employer in respect of an eligible scheme, and</p></content></level><level class="para1"><num>(b)</num><content><p>the trustees or managers of the scheme are a creditor of the company,</p></content></level><wrapUp><p>the Board may exercise any rights, or any rights of a specified description, that are exercisable under this Part by the trustees or managers as a creditor of the company.</p></wrapUp></subsection><subsection><num>(4)</num><intro><p>Regulations under this section may provide that the Board may exercise any such rights—</p></intro><level class="para1"><num>(a)</num><content><p>to the exclusion of the trustees or managers of the scheme, or</p></content></level><level class="para1"><num>(b)</num><content><p>in addition to the exercise of those rights by the trustees or managers of the scheme.</p></content></level></subsection><subsection><num>(5)</num><intro><p>Regulations under this section—</p></intro><level class="para1"><num>(a)</num><content><p>may specify conditions that must be met before the Board may exercise any such rights;</p></content></level><level class="para1"><num>(b)</num><content><p>may provide for any such rights to be exercisable by the Board for a specified period;</p></content></level><level class="para1"><num>(c)</num><content><p>may make provision in connection with any such rights ceasing to be so exercisable at the end of such a period.</p></content></level></subsection><subsection><num>(6)</num><content><p>Regulations under this section are subject to affirmative resolution procedure (but see subsection (7)).</p></content></subsection><subsection><num>(7)</num><content><p>During the period of six months beginning with the day on which this section comes into force, regulations under this section are subject to approval after being made (and subsection (6) does not apply).</p></content></subsection><subsection><num>(8)</num><content><p>For the purposes of subsection (7), section 1291 has effect as if any reference in that section to a period of 28 days were to a period of 40 days.</p></content></subsection><subsection><num>(9)</num><intro><p>In this section—</p></intro><hcontainer name="definition"><content><p>“eligible scheme” means any pension scheme that is an eligible scheme for the purposes of section 126 of the Pensions Act 2004 or Article 110 of the Pensions (Northern Ireland) Order 2005 (<ref eId="c00101" href="http://www.legislation.gov.uk/id/nisi/2005/255">S.I. 2005/255 (N.I. 1)</ref>);</p></content></hcontainer><hcontainer name="definition"><intro><p>“employer”—</p></intro><level class="para1"><num>(a)</num><content><p>in subsection (1), means an employer within the meaning of section 318(1) of the Pensions Act 2004 or Article 2(2) of the Pensions (Northern Ireland) Order 2005;</p></content></level><level class="para1"><num>(b)</num><content><p>in subsections (2) and (3)—</p><blockList class="ordered roman parens" ukl:Name="OrderedList" ukl:Type="roman" ukl:Decoration="parens"><item><num>(i)</num><p>in the case of a pension scheme that is an eligible scheme for the purposes of section 126 of the Pensions Act 2004, has the same meaning as it has for the purposes of Part 2 of that Act (see section 318(1) and (4) of that Act);</p></item><item><num>(ii)</num><p>in the case of a pension scheme that is an eligible scheme for the purposes of Article 110 of the Pensions (Northern Ireland) Order 2005, has the same meaning as it has for the purposes of Part 3 of that Order (see Article 2(2) and (5) of that Order);</p></item></blockList></content></level></hcontainer><hcontainer name="definition"><content><p>“money purchase scheme” means a pension scheme that is a money purchase scheme for the purposes of the Pension Schemes Act 1993 (see section 181(1) of that Act) or the Pension Schemes (Northern Ireland) Act 1993 (see section 176(1) of that Act);</p></content></hcontainer><hcontainer name="definition"><content><p>“occupational pension scheme” and “pension scheme” have the meaning given by section 1 of the Pension Schemes Act 1993;</p></content></hcontainer><hcontainer name="definition"><content><p>“specified” means specified in regulations under this section.</p></content></hcontainer></subsection></section></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading>Reconstructions and amalgamations</heading><section><num>901J</num><heading>Powers of court to facilitate reconstruction or amalgamation</heading><subsection><num>(1)</num><intro><p>This section applies where application is made to the court under section 901F to sanction a compromise or arrangement and it is shown that—</p></intro><level class="para1"><num>(a)</num><content><p>the compromise or arrangement is proposed in connection with a scheme for the reconstruction of any company or companies, or the amalgamation of any two or more companies, and</p></content></level><level class="para1"><num>(b)</num><content><p>under the scheme the whole or any part of the undertaking or the property of any company concerned in the scheme (a “transferor company”) is to be transferred to another company (“the transferee company”).</p></content></level></subsection><subsection><num>(2)</num><intro><p>The court may, either by the order sanctioning the compromise or arrangement or by a subsequent order, make provision for all or any of the following matters—</p></intro><level class="para1"><num>(a)</num><content><p>the transfer to the transferee company of the whole or any part of the undertaking and of the property or liabilities of any transferor company;</p></content></level><level class="para1"><num>(b)</num><content><p>the allotting or appropriation by the transferee company of any shares, debentures, policies or other like interests in that company which under the compromise or arrangement are to be allotted or appropriated by that company to or for any person;</p></content></level><level class="para1"><num>(c)</num><content><p>the continuation by or against the transferee company of any legal proceedings pending by or against any transferor company;</p></content></level><level class="para1"><num>(d)</num><content><p>the dissolution, without winding up, of any transferor company;</p></content></level><level class="para1"><num>(e)</num><content><p>the provision to be made for any persons who, within such time and in such manner as the court directs, dissent from the compromise or arrangement;</p></content></level><level class="para1"><num>(f)</num><content><p>such incidental, consequential and supplemental matters as are necessary to secure that the reconstruction or amalgamation is fully and effectively carried out.</p></content></level></subsection><subsection><num>(3)</num><intro><p>If an order under this section provides for the transfer of property or liabilities—</p></intro><level class="para1"><num>(a)</num><content><p>the property is by virtue of the order transferred to, and vests in, the transferee company, and</p></content></level><level class="para1"><num>(b)</num><content><p>the liabilities are, by virtue of the order, transferred to and become liabilities of that company.</p></content></level></subsection><subsection><num>(4)</num><content><p>The property (if the order so directs) vests freed from any charge that is by virtue of the compromise or arrangement to cease to have effect.</p></content></subsection><subsection><num>(5)</num><intro><p>In this section—</p></intro><hcontainer name="definition"><content><p>“property” includes property, rights and powers of every description; and</p></content></hcontainer><hcontainer name="definition"><content><p>“liabilities” includes duties.</p></content></hcontainer></subsection><subsection><num>(6)</num><content><p>Every company in relation to which an order is made under this section must cause a copy of the order to be delivered to the registrar within seven days after its making.</p></content></subsection><subsection><num>(7)</num><intro><p>If default is made in complying with subsection (6) an offence is committed by—</p></intro><level class="para1"><num>(a)</num><content><p>the company, and</p></content></level><level class="para1"><num>(b)</num><content><p>every officer of the company who is in default.</p></content></level></subsection><subsection><num>(8)</num><content><p>A person guilty of an offence under subsection (7) is liable on summary conviction to a fine not exceeding level 3 on the standard scale and, for continued contravention, a daily default fine not exceeding one-tenth of level 3 on the standard scale.</p></content></subsection></section></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading>Obligations of company with respect to articles etc</heading><section><num>901K</num><heading>Obligations of company with respect to articles etc</heading><subsection><num>(1)</num><intro><p>This section applies—</p></intro><level class="para1"><num>(a)</num><content><p>to any order under section 901F (order sanctioning compromise or arrangement), and</p></content></level><level class="para1"><num>(b)</num><content><p>to any order under section 901J (order facilitating reconstruction or amalgamation) that alters the company’s constitution.</p></content></level></subsection><subsection><num>(2)</num><intro><p>If—</p></intro><level class="para1"><num>(a)</num><intro><p>the order amends—</p></intro><level class="para2"><num>(i)</num><content><p>the company’s articles, or</p></content></level><level class="para2"><num>(ii)</num><content><p>any resolution or agreement to which Chapter 3 of Part 3 applies (resolution or agreement affecting a company’s constitution), and</p></content></level></level><level class="para1"><num>(b)</num><content><p>a copy of the order is required to be delivered to the registrar by the company under section 901F(6)(b) or section 901J(6),</p></content></level><wrapUp><p>the copy of the order delivered to the registrar must be accompanied by a copy of the company’s articles, or the resolution or agreement in question, as amended.</p></wrapUp></subsection><subsection><num>(3)</num><content><p>Every copy of the company’s articles issued by the company after the order is made must be accompanied by a copy of the order, unless the effect of the order has been incorporated into the articles by amendment.</p></content></subsection><subsection><num>(4)</num><intro><p>In this section—</p></intro><level class="para1"><num>(a)</num><content><p>references to the effect of the order include the effect of the compromise or arrangement to which the order relates, and</p></content></level><level class="para1"><num>(b)</num><content><p>in the case of a company not having articles, references to its articles are to be read as references to the instrument constituting the company or defining its constitution.</p></content></level></subsection><subsection><num>(5)</num><intro><p>If a company makes default in complying with this section an offence is committed by—</p></intro><level class="para1"><num>(a)</num><content><p>the company, and</p></content></level><level class="para1"><num>(b)</num><content><p>every officer of the company who is in default.</p></content></level></subsection><subsection><num>(6)</num><content><p>A person guilty of an offence under this section is liable on summary conviction to a fine not exceeding level 3 on the standard scale.</p></content></subsection></section></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading>Power to amend Act</heading><section><num>901L</num><heading>Power to amend Act</heading><subsection><num>(1)</num><content><p>The Secretary of State may by regulations make any amendment of this Act which the Secretary of State considers necessary or expedient for the purposes of, in consequence of, or for giving full effect to this Part.</p></content></subsection><subsection><num>(2)</num><content><p>Regulations under this section are subject to affirmative resolution procedure.</p></content></subsection></section></hcontainer></part></quotedStructure></mod></p></content></paragraph></part>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" eId="schedule-9-paragraph-1" class="schProv1"><num>1</num><content><p><mod>In the Companies Act 2006, after Part 26 insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="double"><part><num>PART 26A</num><heading>Arrangements and reconstructions: companies in financial difficulty</heading><hcontainer name="crossheading" ukl:Name="Pblock"><heading>Application of this Part</heading><section><num>901A</num><heading>Application of this Part</heading><subsection><num>(1)</num><content><p>The provisions of this Part apply where conditions A and B are met in relation to a company.</p></content></subsection><subsection><num>(2)</num><content><p>Condition A is that the company has encountered, or is likely to encounter, financial difficulties that are affecting, or will or may affect, its ability to carry on business as a going concern.</p></content></subsection><subsection><num>(3)</num><intro><p>Condition B is that—</p></intro><level class="para1"><num>(a)</num><intro><p>a compromise or arrangement is proposed between the company and—</p></intro><level class="para2"><num>(i)</num><content><p>its creditors, or any class of them, or</p></content></level><level class="para2"><num>(ii)</num><content><p>its members, or any class of them, and</p></content></level></level><level class="para1"><num>(b)</num><content><p>the purpose of the compromise or arrangement is to eliminate, reduce or prevent, or mitigate the effect of, any of the financial difficulties mentioned in subsection (2).</p></content></level></subsection><subsection><num>(4)</num><intro><p>In this Part—</p></intro><hcontainer name="definition"><content><p>“arrangement” includes a reorganisation of the company’s share capital by the consolidation of shares of different classes or by the division of shares into shares of different classes, or by both of those methods;</p></content></hcontainer><hcontainer name="definition"><intro><p>“company”—</p></intro><level class="para1"><num>(a)</num><content><p>in section 901J (powers of court to facilitate reconstruction or amalgamation) means a company within the meaning of this Act, and</p></content></level><level class="para1"><num>(b)</num><content><p>elsewhere in this Part means any company liable to be wound up under the Insolvency Act 1986 or the Insolvency (Northern Ireland) Order 1989 (<ref eId="c00099" href="http://www.legislation.gov.uk/id/nisi/1989/2405">S.I. 1989/2405 (N.I. 19)</ref>).</p></content></level></hcontainer></subsection><subsection><num>(5)</num><content><p>The provisions of this Part have effect subject to Part 27 (mergers and divisions of public companies) where that Part applies (see sections 902 and 903).</p></content></subsection></section><section><num>901B</num><heading>Power to exclude companies providing financial services, etc</heading><subsection><num>(1)</num><intro><p>The Secretary of State may by regulations provide that this Part does not apply—</p></intro><level class="para1"><num>(a)</num><content><p>where the company in respect of which a compromise or arrangement is proposed is an authorised person, or an authorised person of a specified description;</p></content></level><level class="para1"><num>(b)</num><intro><p>where—</p></intro><level class="para2"><num>(i)</num><content><p>a compromise or arrangement is proposed between a company, or a company of a specified description, and any creditors of the company, and</p></content></level><level class="para2"><num>(ii)</num><content><p>those creditors consist of or include creditors of a specified description.</p></content></level></level></subsection><subsection><num>(2)</num><intro><p>In this section—</p></intro><hcontainer name="definition"><content><p>“authorised person” has the same meaning as in the Financial Services and Markets Act 2000 (see section 31 of that Act);</p></content></hcontainer><hcontainer name="definition"><content><p>“specified” means specified in the regulations.</p></content></hcontainer></subsection><subsection><num>(3)</num><content><p>Regulations under this section are subject to affirmative resolution procedure.</p></content></subsection></section></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading>Meeting of creditors or members</heading><section><num>901C</num><heading>Court order for holding of meeting</heading><subsection><num>(1)</num><content><p>The court may, on an application under this subsection, order a meeting of the creditors or class of creditors, or of the members of the company or class of members (as the case may be), to be summoned in such manner as the court directs.</p></content></subsection><subsection><num>(2)</num><intro><p>An application under subsection (1) may be made by—</p></intro><level class="para1"><num>(a)</num><content><p>the company,</p></content></level><level class="para1"><num>(b)</num><content><p>any creditor or member of the company,</p></content></level><level class="para1"><num>(c)</num><content><p>if the company is being wound up, the liquidator, or</p></content></level><level class="para1"><num>(d)</num><content><p>if the company is in administration, the administrator.</p></content></level></subsection><subsection><num>(3)</num><content><p>Every creditor or member of the company whose rights are affected by the compromise or arrangement must be permitted to participate in a meeting ordered to be summoned under subsection (1).</p></content></subsection><subsection><num>(4)</num><content><p>But subsection (3) does not apply in relation to a class of creditors or members of the company if, on an application under this subsection, the court is satisfied that none of the members of that class has a genuine economic interest in the company.</p></content></subsection><subsection><num>(5)</num><content><p>An application under subsection (4) is to be made by the person who made the application under subsection (1) in respect of the compromise or arrangement.</p></content></subsection><subsection><num>(6)</num><content><p>Section 323 (representation of corporations at meetings) applies to a meeting of creditors under this section as to a meeting of the company (references to a member of the company being read as references to a creditor).</p></content></subsection><subsection><num>(7)</num><content><p>This section is subject to section 901H (moratorium debts, etc).</p></content></subsection></section><section><num>901D</num><heading>Statement to be circulated or made available</heading><subsection><num>(1)</num><intro><p>Where a meeting is summoned under section 901C—</p></intro><level class="para1"><num>(a)</num><content><p>every notice summoning the meeting that is sent to a creditor or member must be accompanied by a statement complying with this section, and</p></content></level><level class="para1"><num>(b)</num><intro><p>every notice summoning the meeting that is given by advertisement must either—</p></intro><level class="para2"><num>(i)</num><content><p>include such a statement, or</p></content></level><level class="para2"><num>(ii)</num><content><p>state where and how creditors or members entitled to attend the meeting may obtain copies of such a statement.</p></content></level></level></subsection><subsection><num>(2)</num><intro><p>The statement must—</p></intro><level class="para1"><num>(a)</num><content><p>explain the effect of the compromise or arrangement, and</p></content></level><level class="para1"><num>(b)</num><intro><p>in particular, state—</p></intro><level class="para2"><num>(i)</num><content><p>any material interests of the directors of the company (whether as directors or as members or as creditors of the company or otherwise), and</p></content></level><level class="para2"><num>(ii)</num><content><p>the effect on those interests of the compromise or arrangement, in so far as it is different from the effect on the like interests of other persons.</p></content></level></level></subsection><subsection><num>(3)</num><content><p>Where the compromise or arrangement affects the rights of debenture holders of the company, the statement must give the like explanation as respects the trustees of any deed for securing the issue of the debentures as it is required to give as respects the company’s directors.</p></content></subsection><subsection><num>(4)</num><content><p>Where a notice given by advertisement states that copies of an explanatory statement can be obtained by creditors or members entitled to attend the meeting, every such creditor or member is entitled, on making application in the manner indicated by the notice, to be provided by the company with a copy of the statement free of charge.</p></content></subsection><subsection><num>(5)</num><intro><p>If a company makes default in complying with any requirement of this section, an offence is committed by—</p></intro><level class="para1"><num>(a)</num><content><p>the company, and</p></content></level><level class="para1"><num>(b)</num><content><p>every officer of the company who is in default.</p></content></level><wrapUp><p>This is subject to subsection (7).</p></wrapUp></subsection><subsection><num>(6)</num><intro><p>For this purpose the following are treated as officers of the company—</p></intro><level class="para1"><num>(a)</num><content><p>a liquidator or administrator of the company, and</p></content></level><level class="para1"><num>(b)</num><content><p>a trustee of a deed for securing the issue of debentures of the company.</p></content></level></subsection><subsection><num>(7)</num><content><p>A person is not guilty of an offence under this section if the person shows that the default was due to the refusal of a director or trustee for debenture holders to supply the necessary particulars of the director’s or (as the case may be) the trustee’s interests.</p></content></subsection><subsection><num>(8)</num><intro><p>A person guilty of an offence under this section is liable—</p></intro><level class="para1"><num>(a)</num><content><p>on conviction on indictment, to a fine;</p></content></level><level class="para1"><num>(b)</num><content><p>on summary conviction in England and Wales, to a fine;</p></content></level><level class="para1"><num>(c)</num><content><p>on summary conviction in Scotland or Northern Ireland, to a fine not exceeding the statutory maximum.</p></content></level></subsection></section><section><num>901E</num><heading>Duty of directors and trustees to provide information</heading><subsection><num>(1)</num><intro><p>It is the duty of—</p></intro><level class="para1"><num>(a)</num><content><p>any director of the company, and</p></content></level><level class="para1"><num>(b)</num><content><p>any trustee for its debenture holders,</p></content></level><wrapUp><p>to give notice to the company of such matters relating to that director or trustee as may be necessary for the purposes of section 901D (explanatory statement to be circulated or made available).</p></wrapUp></subsection><subsection><num>(2)</num><content><p>Any person who makes default in complying with this section commits an offence.</p></content></subsection><subsection><num>(3)</num><content><p>A person guilty of an offence under this section is liable on summary conviction to a fine not exceeding level 3 on the standard scale.</p></content></subsection></section></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading>Court sanction for compromise or arrangement</heading><section><num>901F</num><heading>Court sanction for compromise or arrangement</heading><subsection><num>(1)</num><content><p>If a number representing 75% in value of the creditors or class of creditors or members or class of members (as the case may be), present and voting either in person or by proxy at the meeting summoned under section 901C, agree a compromise or arrangement, the court may, on an application under this section, sanction the compromise or arrangement.</p></content></subsection><subsection><num>(2)</num><intro><p>Subsection (1) is subject to—</p></intro><level class="para1"><num>(a)</num><content><p>section 901G (sanction for compromise or arrangement where one or more classes dissent), and</p></content></level><level class="para1"><num>(b)</num><content><p>section 901H (moratorium debts, etc).</p></content></level></subsection><subsection><num>(3)</num><intro><p>An application under this section may be made by—</p></intro><level class="para1"><num>(a)</num><content><p>the company,</p></content></level><level class="para1"><num>(b)</num><content><p>any creditor or member of the company,</p></content></level><level class="para1"><num>(c)</num><content><p>if the company is being wound up, the liquidator, or</p></content></level><level class="para1"><num>(d)</num><content><p>if the company is in administration, the administrator.</p></content></level></subsection><subsection><num>(4)</num><intro><p>Where the court makes an order under this section in relation to a company that is in administration or is being wound up, the court may by the order—</p></intro><level class="para1"><num>(a)</num><content><p>provide for the appointment of the administrator or liquidator to cease to have effect;</p></content></level><level class="para1"><num>(b)</num><content><p>stay or sist all proceedings in the administration or the winding up;</p></content></level><level class="para1"><num>(c)</num><content><p>impose any requirements with respect to the conduct of the administration or the winding up which the court thinks appropriate for facilitating the compromise or arrangement.</p></content></level></subsection><subsection><num>(5)</num><intro><p>A compromise or arrangement sanctioned by the court is binding—</p></intro><level class="para1"><num>(a)</num><content><p>on all creditors or the class of creditors or on the members or class of members (as the case may be), and</p></content></level><level class="para1"><num>(b)</num><content><p>on the company or, in the case of a company in the course of being wound up, the liquidator and contributories of the company.</p></content></level></subsection><subsection><num>(6)</num><intro><p>The court’s order has no effect until a copy of it has been—</p></intro><level class="para1"><num>(a)</num><content><p>in the case of an overseas company that is not required to register particulars under section 1046, published in the Gazette, or</p></content></level><level class="para1"><num>(b)</num><content><p>in any other case, delivered to the registrar.</p></content></level></subsection></section><section><num>901G</num><heading>Sanction for compromise or arrangement where one or more classes dissent</heading><subsection><num>(1)</num><content><p>This section applies if the compromise or arrangement is not agreed by a number representing at least 75% in value of a class of creditors or (as the case may be) of members of the company (“the dissenting class”), present and voting either in person or by proxy at the meeting summoned under section 901C.</p></content></subsection><subsection><num>(2)</num><content><p>If conditions A and B are met, the fact that the dissenting class has not agreed the compromise or arrangement does not prevent the court from sanctioning it under section 901F.</p></content></subsection><subsection><num>(3)</num><content><p>Condition A is that the court is satisfied that, if the compromise or arrangement were to be sanctioned under section 901F, none of the members of the dissenting class would be any worse off than they would be in the event of the relevant alternative (see subsection (4)).</p></content></subsection><subsection><num>(4)</num><content><p>For the purposes of this section “the relevant alternative” is whatever the court considers would be most likely to occur in relation to the company if the compromise or arrangement were not sanctioned under section 901F.</p></content></subsection><subsection><num>(5)</num><content><p>Condition B is that the compromise or arrangement has been agreed by a number representing 75% in value of a class of creditors or (as the case may be) of members, present and voting either in person or by proxy at the meeting summoned under section 901C, who would receive a payment, or have a genuine economic interest in the company, in the event of the relevant alternative.</p></content></subsection><subsection><num>(6)</num><intro><p>The Secretary of State may by regulations amend this section for the purpose of—</p></intro><level class="para1"><num>(a)</num><content><p>adding to the conditions that must be met for the purposes of this section;</p></content></level><level class="para1"><num>(b)</num><content><p>removing or varying any of those conditions.</p></content></level></subsection><subsection><num>(7)</num><content><p>Regulations under subsection (6) are subject to affirmative resolution procedure.</p></content></subsection></section></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading>Special cases</heading><section><num>901H</num><heading>Moratorium debts, etc</heading><subsection><num>(1)</num><intro><p>This section applies where—</p></intro><level class="para1"><num>(a)</num><content><p>an application under section 901C(1) in respect of a compromise or arrangement is made before the end of the period of 12 weeks beginning with the day after the end of any moratorium for the company under Part A1 of the Insolvency Act 1986 or Part 1A of the Insolvency (Northern Ireland) Order 1989 (<ref eId="c00100" href="http://www.legislation.gov.uk/id/nisi/1989/2405">S.I. 1989/2405 (N.I. 19)</ref>), and</p></content></level><level class="para1"><num>(b)</num><content><p>the creditors with whom the compromise or arrangement is proposed include any relevant creditors (see subsection (2)).</p></content></level></subsection><subsection><num>(2)</num><intro><p>In this section “relevant creditor” means—</p></intro><level class="para1"><num>(a)</num><content><p>a creditor in respect of a moratorium debt, or</p></content></level><level class="para1"><num>(b)</num><content><p>a creditor in respect of a priority pre-moratorium debt.</p></content></level></subsection><subsection><num>(3)</num><content><p>The relevant creditors may not participate in the meeting summoned under section 901C.</p></content></subsection><subsection><num>(4)</num><intro><p>For the purposes of section 901D (statement to be circulated or made available)—</p></intro><level class="para1"><num>(a)</num><content><p>the requirement in section 901D(1)(a) is to be read as including a requirement to send each relevant creditor a statement complying with section 901D;</p></content></level><level class="para1"><num>(b)</num><content><p>any reference to creditors entitled to attend the meeting summoned under section 901C includes a reference to relevant creditors.</p></content></level></subsection><subsection><num>(5)</num><content><p>The court may not sanction the compromise or arrangement under section 901F if it includes provision in respect of any relevant creditor who has not agreed to it.</p></content></subsection><subsection><num>(6)</num><intro><p>In this section—</p></intro><hcontainer name="definition"><intro><p>“moratorium debt”—</p></intro><level class="para1"><num>(a)</num><content><p>in the case of a moratorium under Part A1 of the Insolvency Act 1986, has the same meaning as in section 174A of that Act;</p></content></level><level class="para1"><num>(b)</num><content><p>in the case of a moratorium under Part 1A of the Insolvency (Northern Ireland) Order 1989, has the same meaning as in Article 148A of that Order;</p></content></level></hcontainer><hcontainer name="definition"><intro><p>“priority pre-moratorium debt”—</p></intro><level class="para1"><num>(a)</num><content><p>in the case of a moratorium under Part A1 of the Insolvency Act 1986, has the same meaning as in section 174A of that Act;</p></content></level><level class="para1"><num>(b)</num><content><p>in the case of a moratorium under Part 1A of the Insolvency (Northern Ireland) Order 1989, has the same meaning as in Article 148A of that Order.</p></content></level></hcontainer></subsection></section><section><num>901I</num><heading>Pension schemes</heading><subsection><num>(1)</num><content><p>In a case where the company in respect of which a compromise or arrangement is proposed is or has been an employer in respect of an occupational pension scheme that is not a money purchase scheme, any notice or other document required to be sent to a creditor of the company must also be sent to the Pensions Regulator.</p></content></subsection><subsection><num>(2)</num><content><p>In a case where the company in respect of which a compromise or arrangement is proposed is an employer in respect of an eligible scheme, any notice or other document required to be sent to a creditor of the company must also be sent to the Board of the Pension Protection Fund (“the Board”).</p></content></subsection><subsection><num>(3)</num><intro><p>The Secretary of State may by regulations provide that, in a case where—</p></intro><level class="para1"><num>(a)</num><content><p>the company in respect of which a compromise or arrangement is proposed is an employer in respect of an eligible scheme, and</p></content></level><level class="para1"><num>(b)</num><content><p>the trustees or managers of the scheme are a creditor of the company,</p></content></level><wrapUp><p>the Board may exercise any rights, or any rights of a specified description, that are exercisable under this Part by the trustees or managers as a creditor of the company.</p></wrapUp></subsection><subsection><num>(4)</num><intro><p>Regulations under this section may provide that the Board may exercise any such rights—</p></intro><level class="para1"><num>(a)</num><content><p>to the exclusion of the trustees or managers of the scheme, or</p></content></level><level class="para1"><num>(b)</num><content><p>in addition to the exercise of those rights by the trustees or managers of the scheme.</p></content></level></subsection><subsection><num>(5)</num><intro><p>Regulations under this section—</p></intro><level class="para1"><num>(a)</num><content><p>may specify conditions that must be met before the Board may exercise any such rights;</p></content></level><level class="para1"><num>(b)</num><content><p>may provide for any such rights to be exercisable by the Board for a specified period;</p></content></level><level class="para1"><num>(c)</num><content><p>may make provision in connection with any such rights ceasing to be so exercisable at the end of such a period.</p></content></level></subsection><subsection><num>(6)</num><content><p>Regulations under this section are subject to affirmative resolution procedure (but see subsection (7)).</p></content></subsection><subsection><num>(7)</num><content><p>During the period of six months beginning with the day on which this section comes into force, regulations under this section are subject to approval after being made (and subsection (6) does not apply).</p></content></subsection><subsection><num>(8)</num><content><p>For the purposes of subsection (7), section 1291 has effect as if any reference in that section to a period of 28 days were to a period of 40 days.</p></content></subsection><subsection><num>(9)</num><intro><p>In this section—</p></intro><hcontainer name="definition"><content><p>“eligible scheme” means any pension scheme that is an eligible scheme for the purposes of section 126 of the Pensions Act 2004 or Article 110 of the Pensions (Northern Ireland) Order 2005 (<ref eId="c00101" href="http://www.legislation.gov.uk/id/nisi/2005/255">S.I. 2005/255 (N.I. 1)</ref>);</p></content></hcontainer><hcontainer name="definition"><intro><p>“employer”—</p></intro><level class="para1"><num>(a)</num><content><p>in subsection (1), means an employer within the meaning of section 318(1) of the Pensions Act 2004 or Article 2(2) of the Pensions (Northern Ireland) Order 2005;</p></content></level><level class="para1"><num>(b)</num><content><p>in subsections (2) and (3)—</p><blockList class="ordered roman parens" ukl:Name="OrderedList" ukl:Type="roman" ukl:Decoration="parens"><item><num>(i)</num><p>in the case of a pension scheme that is an eligible scheme for the purposes of section 126 of the Pensions Act 2004, has the same meaning as it has for the purposes of Part 2 of that Act (see section 318(1) and (4) of that Act);</p></item><item><num>(ii)</num><p>in the case of a pension scheme that is an eligible scheme for the purposes of Article 110 of the Pensions (Northern Ireland) Order 2005, has the same meaning as it has for the purposes of Part 3 of that Order (see Article 2(2) and (5) of that Order);</p></item></blockList></content></level></hcontainer><hcontainer name="definition"><content><p>“money purchase scheme” means a pension scheme that is a money purchase scheme for the purposes of the Pension Schemes Act 1993 (see section 181(1) of that Act) or the Pension Schemes (Northern Ireland) Act 1993 (see section 176(1) of that Act);</p></content></hcontainer><hcontainer name="definition"><content><p>“occupational pension scheme” and “pension scheme” have the meaning given by section 1 of the Pension Schemes Act 1993;</p></content></hcontainer><hcontainer name="definition"><content><p>“specified” means specified in regulations under this section.</p></content></hcontainer></subsection></section></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading>Reconstructions and amalgamations</heading><section><num>901J</num><heading>Powers of court to facilitate reconstruction or amalgamation</heading><subsection><num>(1)</num><intro><p>This section applies where application is made to the court under section 901F to sanction a compromise or arrangement and it is shown that—</p></intro><level class="para1"><num>(a)</num><content><p>the compromise or arrangement is proposed in connection with a scheme for the reconstruction of any company or companies, or the amalgamation of any two or more companies, and</p></content></level><level class="para1"><num>(b)</num><content><p>under the scheme the whole or any part of the undertaking or the property of any company concerned in the scheme (a “transferor company”) is to be transferred to another company (“the transferee company”).</p></content></level></subsection><subsection><num>(2)</num><intro><p>The court may, either by the order sanctioning the compromise or arrangement or by a subsequent order, make provision for all or any of the following matters—</p></intro><level class="para1"><num>(a)</num><content><p>the transfer to the transferee company of the whole or any part of the undertaking and of the property or liabilities of any transferor company;</p></content></level><level class="para1"><num>(b)</num><content><p>the allotting or appropriation by the transferee company of any shares, debentures, policies or other like interests in that company which under the compromise or arrangement are to be allotted or appropriated by that company to or for any person;</p></content></level><level class="para1"><num>(c)</num><content><p>the continuation by or against the transferee company of any legal proceedings pending by or against any transferor company;</p></content></level><level class="para1"><num>(d)</num><content><p>the dissolution, without winding up, of any transferor company;</p></content></level><level class="para1"><num>(e)</num><content><p>the provision to be made for any persons who, within such time and in such manner as the court directs, dissent from the compromise or arrangement;</p></content></level><level class="para1"><num>(f)</num><content><p>such incidental, consequential and supplemental matters as are necessary to secure that the reconstruction or amalgamation is fully and effectively carried out.</p></content></level></subsection><subsection><num>(3)</num><intro><p>If an order under this section provides for the transfer of property or liabilities—</p></intro><level class="para1"><num>(a)</num><content><p>the property is by virtue of the order transferred to, and vests in, the transferee company, and</p></content></level><level class="para1"><num>(b)</num><content><p>the liabilities are, by virtue of the order, transferred to and become liabilities of that company.</p></content></level></subsection><subsection><num>(4)</num><content><p>The property (if the order so directs) vests freed from any charge that is by virtue of the compromise or arrangement to cease to have effect.</p></content></subsection><subsection><num>(5)</num><intro><p>In this section—</p></intro><hcontainer name="definition"><content><p>“property” includes property, rights and powers of every description; and</p></content></hcontainer><hcontainer name="definition"><content><p>“liabilities” includes duties.</p></content></hcontainer></subsection><subsection><num>(6)</num><content><p>Every company in relation to which an order is made under this section must cause a copy of the order to be delivered to the registrar within seven days after its making.</p></content></subsection><subsection><num>(7)</num><intro><p>If default is made in complying with subsection (6) an offence is committed by—</p></intro><level class="para1"><num>(a)</num><content><p>the company, and</p></content></level><level class="para1"><num>(b)</num><content><p>every officer of the company who is in default.</p></content></level></subsection><subsection><num>(8)</num><content><p>A person guilty of an offence under subsection (7) is liable on summary conviction to a fine not exceeding level 3 on the standard scale and, for continued contravention, a daily default fine not exceeding one-tenth of level 3 on the standard scale.</p></content></subsection></section></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading>Obligations of company with respect to articles etc</heading><section><num>901K</num><heading>Obligations of company with respect to articles etc</heading><subsection><num>(1)</num><intro><p>This section applies—</p></intro><level class="para1"><num>(a)</num><content><p>to any order under section 901F (order sanctioning compromise or arrangement), and</p></content></level><level class="para1"><num>(b)</num><content><p>to any order under section 901J (order facilitating reconstruction or amalgamation) that alters the company’s constitution.</p></content></level></subsection><subsection><num>(2)</num><intro><p>If—</p></intro><level class="para1"><num>(a)</num><intro><p>the order amends—</p></intro><level class="para2"><num>(i)</num><content><p>the company’s articles, or</p></content></level><level class="para2"><num>(ii)</num><content><p>any resolution or agreement to which Chapter 3 of Part 3 applies (resolution or agreement affecting a company’s constitution), and</p></content></level></level><level class="para1"><num>(b)</num><content><p>a copy of the order is required to be delivered to the registrar by the company under section 901F(6)(b) or section 901J(6),</p></content></level><wrapUp><p>the copy of the order delivered to the registrar must be accompanied by a copy of the company’s articles, or the resolution or agreement in question, as amended.</p></wrapUp></subsection><subsection><num>(3)</num><content><p>Every copy of the company’s articles issued by the company after the order is made must be accompanied by a copy of the order, unless the effect of the order has been incorporated into the articles by amendment.</p></content></subsection><subsection><num>(4)</num><intro><p>In this section—</p></intro><level class="para1"><num>(a)</num><content><p>references to the effect of the order include the effect of the compromise or arrangement to which the order relates, and</p></content></level><level class="para1"><num>(b)</num><content><p>in the case of a company not having articles, references to its articles are to be read as references to the instrument constituting the company or defining its constitution.</p></content></level></subsection><subsection><num>(5)</num><intro><p>If a company makes default in complying with this section an offence is committed by—</p></intro><level class="para1"><num>(a)</num><content><p>the company, and</p></content></level><level class="para1"><num>(b)</num><content><p>every officer of the company who is in default.</p></content></level></subsection><subsection><num>(6)</num><content><p>A person guilty of an offence under this section is liable on summary conviction to a fine not exceeding level 3 on the standard scale.</p></content></subsection></section></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading>Power to amend Act</heading><section><num>901L</num><heading>Power to amend Act</heading><subsection><num>(1)</num><content><p>The Secretary of State may by regulations make any amendment of this Act which the Secretary of State considers necessary or expedient for the purposes of, in consequence of, or for giving full effect to this Part.</p></content></subsection><subsection><num>(2)</num><content><p>Regulations under this section are subject to affirmative resolution procedure.</p></content></subsection></section></hcontainer></part></quotedStructure></mod></p></content></paragraph>
<part xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" xmlns:default="http://www.w3.org/1999/xhtml" xmlns:fo="http://www.w3.org/1999/XSL/Format" eId="schedule-9-part-2"><num>PART 2</num><heading>Consequential amendments</heading><hcontainer name="crossheading" class="schGroup7"><heading>Finance Act 1986</heading><paragraph eId="schedule-9-paragraph-2" class="schProv1"><num>2</num><content><p>The Finance Act 1986 is amended as follows.</p></content></paragraph><paragraph eId="schedule-9-paragraph-3" class="schProv1"><num>3</num><content><p>In section 80D (repurchases and stock lending: replacement stock on insolvency), in subsection (9)(f), after “Part 26” insert “or 26A”.</p></content></paragraph><paragraph eId="schedule-9-paragraph-4" class="schProv1"><num>4</num><content><p>In section 89AB (stamp duty reserve tax: exception for repurchases and stock lending in case of insolvency), in subsection (9)(f), after “Part 26” insert “or 26A”.</p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Insolvency Act 1986</heading><paragraph eId="schedule-9-paragraph-5" class="schProv1"><num>5</num><content><p>The Insolvency Act 1986 is amended as follows.</p></content></paragraph><paragraph eId="schedule-9-paragraph-6" class="schProv1"><num>6</num><subparagraph eId="schedule-9-paragraph-6-1"><num>(1)</num><content><p>In Part 4 (winding up of companies registered under the Companies Acts), Chapter 8 (provisions of general application in winding up) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-9-paragraph-6-2"><num>(2)</num><content><p>In section 176ZB (application of proceeds of office-holder claims), in subsection (4)(b), after “Part 26” insert “or 26A”.</p></content></subparagraph><subparagraph eId="schedule-9-paragraph-6-3"><num>(3)</num><content><p>In section 176A (share of assets for unsecured creditors), in subsection (4)(b), after “Part 26” insert “or 26A”.</p></content></subparagraph></paragraph><paragraph eId="schedule-9-paragraph-7" class="schProv1"><num>7</num><subparagraph eId="schedule-9-paragraph-7-1"><num>(1)</num><content><p>Schedule B1 (administration) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-9-paragraph-7-2"><num>(2)</num><content><p>In paragraph 49 (administrator’s proposals), in sub-paragraph (3)(b), after “Part 26” insert “or 26A”.</p></content></subparagraph><subparagraph eId="schedule-9-paragraph-7-3"><num>(3)</num><content><p>In paragraph 73 (protection for priority creditor), in sub-paragraph (2)(c), after “Part 26” insert “or 26A”.</p></content></subparagraph><subparagraph eId="schedule-9-paragraph-7-4"><num>(4)</num><content><p>In paragraph 74 (challenge to administrator’s conduct of company), in sub-paragraph (6)(b), after “Part 26” insert “or 26A”.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Insolvency (Northern Ireland) Order 1989 (<ref eId="c00102" href="http://www.legislation.gov.uk/id/nisi/1989/2405">S.I. 1989/2405 (N.I. 19)</ref>)</heading><paragraph eId="schedule-9-paragraph-8" class="schProv1"><num>8</num><content><p>The Insolvency (Northern Ireland) Order 1989 is amended as follows.</p></content></paragraph><paragraph eId="schedule-9-paragraph-9" class="schProv1"><num>9</num><content><p>In Article 150A (share of assets for unsecured creditors), in paragraph (4)(b), after “Part 26” insert “or 26A”.</p></content></paragraph><paragraph eId="schedule-9-paragraph-10" class="schProv1"><num>10</num><subparagraph eId="schedule-9-paragraph-10-1"><num>(1)</num><content><p>Schedule B1 (administration) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-9-paragraph-10-2"><num>(2)</num><content><p>In paragraph 50 (administrator’s proposals), in sub-paragraph (3)(b), after “Part 26” insert “or 26A”.</p></content></subparagraph><subparagraph eId="schedule-9-paragraph-10-3"><num>(3)</num><content><p>In paragraph 74 (protection for secured or preferential creditor), in sub-paragraph (2)(c), after “Part 26” insert “or 26A”.</p></content></subparagraph><subparagraph eId="schedule-9-paragraph-10-4"><num>(4)</num><content><p>In paragraph 75 (challenge to administrator’s conduct of company), in sub-paragraph (6)(b), after “Part 26” insert “or 26A”.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Water Industry Act 1991</heading><paragraph eId="schedule-9-paragraph-11" class="schProv1"><num>11</num><content><p>In section 23 of the Water Industry Act 1991 (meaning and effect of special administration order), in subsection (2D)(b), after “Part 26” insert “or 26A”.</p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Taxation of Chargeable Gains Act 1992</heading><paragraph eId="schedule-9-paragraph-12" class="schProv1"><num>12</num><content><p>The Taxation of Chargeable Gains Act 1992 is amended as follows.</p></content></paragraph><paragraph eId="schedule-9-paragraph-13" class="schProv1"><num>13</num><content><p>In section 263CA (stock lending: insolvency etc of borrower), in subsection (9)(f), after “Part 26” insert “or 26A”.</p></content></paragraph><paragraph eId="schedule-9-paragraph-14" class="schProv1"><num>14</num><content><p>In Schedule 5AA (meaning of “scheme of reconstruction” for purposes of section 136), in paragraph 5(a)(i), after “Part 26” insert “or 26A”.</p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Value Added Tax Act 1994</heading><paragraph eId="schedule-9-paragraph-15" class="schProv1"><num>15</num><content><p><mod>In section 26AA of the Value Added Tax Act 1994 (disapplication of disallowance under section 26A in insolvency), in subsection (8), after paragraph (k) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="double"><level class="para1"><num>(ka)</num><content><p>a compromise or arrangement sanctioned by the court and delivered to the registrar or (as the case may be) published in the Gazette in accordance with section 901F of the Companies Act 2006 is in place in relation to that person,</p></content></level></quotedStructure><inline name="appendText">.</inline></mod></p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Housing Act 1996</heading><paragraph eId="schedule-9-paragraph-16" class="schProv1"><num>16</num><subparagraph eId="schedule-9-paragraph-16-1"><num>(1)</num><content><p>In Part 2 of Schedule 1 to the Housing Act 1996 (registered social landlords: constitution, change of rules, amalgamation and dissolution), paragraph 13 (arrangement, reconstruction, etc of company) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-9-paragraph-16-2"><num>(2)</num><content><p><mod>After sub-paragraph (3) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="schedule" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="schedule" ukl:Format="double"><subparagraph><num>(3A)</num><content><p>If a court makes an order under section 901F of the Companies Act 2006 (sanction of compromise or arrangement with creditors or members) in relation to the company, the company must notify the Welsh Ministers of the order.</p></content></subparagraph><subparagraph><num>(3B)</num><content><p>If a court makes an order under section 901J of the Companies Act 2006 (powers of court to facilitate reconstruction or amalgamation) in relation to the company, the company must notify the Welsh Ministers of the order.</p></content></subparagraph></quotedStructure></mod></p></content></subparagraph><subparagraph eId="schedule-9-paragraph-16-3"><num>(3)</num><content><p>In sub-paragraph (8), after “sub-paragraph (3)” insert “, (3B)”.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Financial Services and Markets Act 2000</heading><paragraph eId="schedule-9-paragraph-17" class="schProv1"><num>17</num><content><p>The Financial Services and Markets Act 2000 is amended as follows.</p></content></paragraph><paragraph eId="schedule-9-paragraph-18" class="schProv1"><num>18</num><content><p>In section 105 (insurance business transfer schemes), in subsection (5), for “Part 26 of that Act” substitute “Part 26 or 26A of that Act, as the case may be”.</p></content></paragraph><paragraph eId="schedule-9-paragraph-19" class="schProv1"><num>19</num><intro><p>In Schedule 17A (further provision in relation to exercise of Part 18 functions by Bank of England), in paragraph 24 (insolvency)—</p></intro><level class="para1" eId="schedule-9-paragraph-19-a"><num>(a)</num><content><p><mod>in sub-paragraph (1), before paragraph (a) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="schedule" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="schedule" ukl:Format="double"><level class="para1"><num>(za)</num><content><p>sections 355A and 355B (powers to participate in proceedings under Part 26A of the Companies Act 2006);</p></content></level></quotedStructure><inline name="appendText">;</inline></mod></p></content></level><level class="para1" eId="schedule-9-paragraph-19-b"><num>(b)</num><content><p>in sub-paragraph (2), after “recognised investment exchange” insert “(other than the reference to “an authorised person” in section 355B(2)(a))”.</p></content></level></paragraph><paragraph eId="schedule-9-paragraph-20" class="schProv1"><num>20</num><subparagraph eId="schedule-9-paragraph-20-1"><num>(1)</num><content><p>Part 24 (insolvency) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-9-paragraph-20-2"><num>(2)</num><content><p><mod>After section 355 insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="double"><hcontainer name="crossheading" ukl:Name="Pblock"><heading>Arrangements and reconstructions: companies in financial difficulty</heading><section><num>355A</num><heading>Powers of FCA and PRA to participate in proceedings</heading><subsection><num>(1)</num><intro><p>This section applies where Part 26A of the Companies Act 2006 (“the 2006 Act”) (arrangements and reconstructions: companies in financial difficulty) applies in relation to a company which—</p></intro><level class="para1"><num>(a)</num><content><p>is, or has been, an authorised person or recognised investment exchange;</p></content></level><level class="para1"><num>(b)</num><intro><p>is, or has been, any of the following—</p></intro><level class="para2"><num>(i)</num><content><p>an electronic money institution;</p></content></level><level class="para2"><num>(ii)</num><content><p>an authorised payment institution;</p></content></level><level class="para2"><num>(iii)</num><content><p>a small payment institution;</p></content></level><level class="para2"><num>(iv)</num><content><p>a registered account information service provider;</p></content></level></level><level class="para1"><num>(c)</num><content><p>is, or has been, an appointed representative; or</p></content></level><level class="para1"><num>(d)</num><content><p>is carrying on, or has carried on, a regulated activity in contravention of the general prohibition.</p></content></level></subsection><subsection><num>(2)</num><intro><p>A relevant applicant must give notice to the appropriate regulator of—</p></intro><level class="para1"><num>(a)</num><content><p>any application which the relevant applicant intends to make under section 901C(1) of the 2006 Act, and</p></content></level><level class="para1"><num>(b)</num><content><p>any application which the relevant applicant believes a creditor or member of the company has made, or intends to make, under section 901C(1) of that Act in relation to the company.</p></content></level></subsection><subsection><num>(3)</num><content><p>A relevant applicant may not make an application under section 901C(1) of the 2006 Act in relation to a company that is a PRA-regulated person without the consent of the PRA.</p></content></subsection><subsection><num>(4)</num><intro><p>In this section “relevant applicant”, in relation to a company, means—</p></intro><level class="para1"><num>(a)</num><content><p>the company;</p></content></level><level class="para1"><num>(b)</num><content><p>if the company is being wound up, the liquidator;</p></content></level><level class="para1"><num>(c)</num><content><p>if the company is in administration, the administrator.</p></content></level></subsection><subsection><num>(5)</num><content><p>The appropriate regulator is entitled to be heard at any hearing of an application made under section 901C or 901F of the 2006 Act in relation to the company.</p></content></subsection><subsection><num>(6)</num><content><p>Any notice or other document required to be sent to a creditor of the company must also be sent to the appropriate regulator.</p></content></subsection><subsection><num>(7)</num><intro><p>A person appointed for the purpose by the appropriate regulator is entitled—</p></intro><level class="para1"><num>(a)</num><content><p>to attend any meeting of creditors of the company summoned under section 901C of the 2006 Act;</p></content></level><level class="para1"><num>(b)</num><content><p>to make representations as to any matter for decision at such a meeting.</p></content></level></subsection><subsection><num>(8)</num><intro><p>In this section—</p></intro><hcontainer name="definition"><intro><p>“the appropriate regulator” means—</p></intro><level class="para1"><num>(a)</num><content><p>where the company is a PRA-regulated person, each of the FCA and the PRA, except that the reference in subsection (7) to a person appointed by the appropriate regulator is to be read as a reference to a person appointed by either the FCA or the PRA;</p></content></level><level class="para1"><num>(b)</num><content><p>in any other case, the FCA;</p></content></level></hcontainer><hcontainer name="definition"><content><p>“authorised payment institution”, “small payment institution” and “registered account information service provider” have the same meaning as in the Payment Services Regulations 2017 (<ref eId="c00103" href="http://www.legislation.gov.uk/id/uksi/2017/752">S.I. 2017/752</ref>) (see regulation 2 of those Regulations);</p></content></hcontainer><hcontainer name="definition"><content><p>“electronic money institution” has the same meaning as in the Electronic Money Regulations 2011 (<ref eId="c00104" href="http://www.legislation.gov.uk/id/uksi/2011/99">S.I. 2011/99</ref>) (see regulation 2 of those Regulations).</p></content></hcontainer></subsection></section><section><num>355B</num><heading>Enforcement of requirements imposed by section 355A</heading><subsection><num>(1)</num><intro><p>For the purpose of enforcing a requirement imposed on a company by section 355A(2) or (3), the appropriate regulator may exercise any of the following powers (so far as it would not otherwise be exercisable)—</p></intro><level class="para1"><num>(a)</num><content><p>the power to publish a statement under section 205 (public censure);</p></content></level><level class="para1"><num>(b)</num><content><p>the power to impose a financial penalty under section 206.</p></content></level></subsection><subsection><num>(2)</num><intro><p>Accordingly, sections 205 and 206, and so much of this Act as relates to either of those sections, have effect in relation to a requirement imposed by section 355A(2) or (3) as if—</p></intro><level class="para1"><num>(a)</num><content><p>any reference to an authorised person included (so far as would not otherwise be the case) a reference to a company falling within any of paragraphs (a) to (d) of section 355A(1),</p></content></level><level class="para1"><num>(b)</num><content><p>any reference to a relevant requirement included (so far as would not otherwise be the case) a reference to a requirement imposed by section 355A(2) or (3), and</p></content></level><level class="para1"><num>(c)</num><content><p>“the appropriate regulator” had the same meaning as in section 355A.</p></content></level></subsection><subsection><num>(3)</num><content><p>In this section “the appropriate regulator” has the same meaning as in section 355A.</p></content></subsection></section></hcontainer></quotedStructure></mod></p></content></subparagraph><subparagraph eId="schedule-9-paragraph-20-3"><num>(3)</num><intro><p>In section 362 (powers of FCA and PRA to participate in administration proceedings)—</p></intro><level class="para1" eId="schedule-9-paragraph-20-3-a"><num>(a)</num><intro><p>in subsection (6)—</p></intro><level class="para2" eId="schedule-9-paragraph-20-3-a-i"><num>(i)</num><content><p>after “arrangement” insert “in relation to which Part 26 of the Companies Act 2006 applies”, and</p></content></level><level class="para2" eId="schedule-9-paragraph-20-3-a-ii"><num>(ii)</num><content><p>for “the Companies Act 2006” substitute “that Act”;</p></content></level></level><level class="para1" eId="schedule-9-paragraph-20-3-b"><num>(b)</num><content><p><mod>after that subsection insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="double"><subsection><num>(6A)</num><content><p>If, during the course of the administration of a company, a compromise or arrangement in relation to which Part 26A of the Companies Act 2006 applies is proposed between the company and its creditors, or any class of them, the appropriate regulator may apply to the court under section 901C or 901F of that Act.</p></content></subsection></quotedStructure></mod></p></content></level></subparagraph><subparagraph eId="schedule-9-paragraph-20-4"><num>(4)</num><intro><p>In section 365 (powers of FCA and PRA to participate in voluntary winding up proceedings)—</p></intro><level class="para1" eId="schedule-9-paragraph-20-4-a"><num>(a)</num><intro><p>in subsection (7)—</p></intro><level class="para2" eId="schedule-9-paragraph-20-4-a-i"><num>(i)</num><content><p>after “arrangement” insert “in relation to which Part 26 of the Companies Act 2006 applies”, and</p></content></level><level class="para2" eId="schedule-9-paragraph-20-4-a-ii"><num>(ii)</num><content><p>for “the Companies Act 2006” substitute “that Act”;</p></content></level></level><level class="para1" eId="schedule-9-paragraph-20-4-b"><num>(b)</num><content><p><mod>after that subsection insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="double"><subsection><num>(7A)</num><content><p>If, during the course of the winding up of the company, a compromise or arrangement in relation to which Part 26A of the Companies Act 2006 applies is proposed between the company and its creditors, or any class of them, the appropriate regulator may apply to the court under section 901C or 901F of that Act.</p></content></subsection></quotedStructure></mod></p></content></level></subparagraph><subparagraph eId="schedule-9-paragraph-20-5"><num>(5)</num><intro><p>In section 371 (powers of FCA and PRA to participate in proceedings for winding up by court)—</p></intro><level class="para1" eId="schedule-9-paragraph-20-5-a"><num>(a)</num><intro><p>in subsection (5)—</p></intro><level class="para2" eId="schedule-9-paragraph-20-5-a-i"><num>(i)</num><content><p>after “arrangement” insert “in relation to which Part 26 of the Companies Act 2006 applies”, and</p></content></level><level class="para2" eId="schedule-9-paragraph-20-5-a-ii"><num>(ii)</num><content><p>for “the Companies Act 2006” substitute “that Act”;</p></content></level></level><level class="para1" eId="schedule-9-paragraph-20-5-b"><num>(b)</num><content><p><mod>after that subsection insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="double"><subsection><num>(5A)</num><content><p>If, during the course of the winding up of a company, a compromise or arrangement in relation to which Part 26A of the Companies Act 2006 applies is proposed between the company and its creditors, or any class of them, the appropriate regulator may apply to the court under section 901C or 901F of that Act.</p></content></subsection></quotedStructure></mod></p></content></level></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Limited Liability Partnerships Act 2000</heading><paragraph eId="schedule-9-paragraph-21" class="schProv1"><num>21</num><intro><p>In section 17 of the Limited Liability Partnerships Act 2000, in subsection (5)(b) (procedure for regulations applying provisions of Companies Act 2006)—</p></intro><level class="para1" eId="schedule-9-paragraph-21-a"><num>(a)</num><content><p>in the entry for Part 26 of the Companies Act 2006, after “reconstructions” insert “: general”;</p></content></level><level class="para1" eId="schedule-9-paragraph-21-b"><num>(b)</num><content><p><mod>after that entry insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="double"><blockList class="unordered none" ukl:Name="UnorderedList" ukl:Decoration="none"><item><p>Part 26A (arrangements and reconstructions: companies in financial difficulty);</p></item></blockList></quotedStructure><inline name="appendText">.</inline></mod></p></content></level></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Enterprise Act 2002</heading><paragraph eId="schedule-9-paragraph-22" class="schProv1"><num>22</num><content><p><mod>In section 255 of the Enterprise Act 2002 (application of law about company arrangement or administration to non-company), in subsection (2), omit the “and” before paragraph (c) and after that paragraph insert <quotedText startQuote="“">, and</quotedText><quotedStructure endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="double"><level class="para1"><num>(d)</num><content><p>Part 26A of that Act (compromise or arrangement with creditors where company in financial difficulty).</p></content></level></quotedStructure></mod></p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Income Tax (Earnings and Pensions) Act 2003</heading><paragraph eId="schedule-9-paragraph-23" class="schProv1"><num>23</num><content><p>The Income Tax (Earnings and Pensions) Act 2003 is amended as follows.</p></content></paragraph><paragraph eId="schedule-9-paragraph-24" class="schProv1"><num>24</num><subparagraph eId="schedule-9-paragraph-24-1"><num>(1)</num><content><p>Schedule 3 (SAYE option schemes) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-9-paragraph-24-2"><num>(2)</num><intro><p>In Part 6 (requirements etc relating to share options), in paragraph 37 (exercise of options: company events)—</p></intro><level class="para1" eId="schedule-9-paragraph-24-2-a"><num>(a)</num><content><p>in sub-paragraph (1), after “(4)” insert “, (4ZA)”;</p></content></level><level class="para1" eId="schedule-9-paragraph-24-2-b"><num>(b)</num><content><p><mod>after sub-paragraph (4) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="schedule" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="schedule" ukl:Format="double"><subparagraph><num>(4ZA)</num><intro><p>The relevant date for the purposes of this sub-paragraph is the date when the court sanctions under section 901F of the Companies Act 2006 (court sanction for compromise or arrangement) a compromise or arrangement applicable to or affecting—</p></intro><level class="para1"><num>(a)</num><content><p>all the ordinary share capital of the company or all the shares of the same class as the shares to which the option relates, or</p></content></level><level class="para1"><num>(b)</num><content><p>all the shares, or all the shares of that same class, which are held by a class of shareholders identified otherwise than by reference to their employment or directorships or their participation in a Schedule 3 SAYE option scheme.</p></content></level></subparagraph></quotedStructure><inline name="appendText">;</inline></mod></p></content></level><level class="para1" eId="schedule-9-paragraph-24-2-c"><num>(c)</num><content><p>in sub-paragraph (6C)(b), after “sub-paragraph (4)” insert “or (4ZA)”;</p></content></level><level class="para1" eId="schedule-9-paragraph-24-2-d"><num>(d)</num><content><p>in sub-paragraph (6E)(a), after “(4)” insert “, (4ZA)”;</p></content></level><level class="para1" eId="schedule-9-paragraph-24-2-e"><num>(e)</num><content><p>in sub-paragraph (6F)(a)(i) and (b)(i), after “(4)” insert “, (4ZA)”.</p></content></level></subparagraph><subparagraph eId="schedule-9-paragraph-24-3"><num>(3)</num><content><p>In Part 7 (exchange of share options), in paragraph 38 (exchange of options on company reorganisation), in sub-paragraph (2)(b), after “section 899” insert “or 901F”.</p></content></subparagraph></paragraph><paragraph eId="schedule-9-paragraph-25" class="schProv1"><num>25</num><subparagraph eId="schedule-9-paragraph-25-1"><num>(1)</num><content><p>Schedule 4 (CSOP schemes) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-9-paragraph-25-2"><num>(2)</num><intro><p>In Part 5 (requirements etc relating to share options), in paragraph 25A (exercise of options: company events)—</p></intro><level class="para1" eId="schedule-9-paragraph-25-2-a"><num>(a)</num><content><p>in sub-paragraph (1), after “(6)” insert “, (6ZA)”;</p></content></level><level class="para1" eId="schedule-9-paragraph-25-2-b"><num>(b)</num><content><p><mod>after sub-paragraph (6) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="schedule" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="schedule" ukl:Format="double"><subparagraph><num>(6ZA)</num><intro><p>The relevant date for the purposes of this sub-paragraph is the date when the court sanctions under section 901F of the Companies Act 2006 (court sanction for compromise or arrangement) a compromise or arrangement applicable to or affecting—</p></intro><level class="para1"><num>(a)</num><content><p>all the ordinary share capital of the company or all the shares of the same class as the shares to which the option relates, or</p></content></level><level class="para1"><num>(b)</num><content><p>all the shares, or all the shares of that same class, which are held by a class of shareholders identified otherwise than by reference to their employment or directorships or their participation in a Schedule 4 CSOP scheme.</p></content></level></subparagraph></quotedStructure><inline name="appendText">;</inline></mod></p></content></level><level class="para1" eId="schedule-9-paragraph-25-2-c"><num>(c)</num><content><p>in sub-paragraph (7C)(b), after “sub-paragraph (6)” insert “or (6ZA)”;</p></content></level><level class="para1" eId="schedule-9-paragraph-25-2-d"><num>(d)</num><content><p>in sub-paragraph (7E)(a), after “(6)” insert “, (6ZA)”;</p></content></level><level class="para1" eId="schedule-9-paragraph-25-2-e"><num>(e)</num><content><p>in sub-paragraph (7F)(a)(i) and (b)(i), after “(6)” insert “, (6ZA)”.</p></content></level></subparagraph><subparagraph eId="schedule-9-paragraph-25-3"><num>(3)</num><content><p>In Part 6 (exchange of share options), in paragraph 26 (exchange of options on company reorganisation), in sub-paragraph (2)(b), after “section 899” insert “or 901F”.</p></content></subparagraph></paragraph><paragraph eId="schedule-9-paragraph-26" class="schProv1"><num>26</num><content><p>In Schedule 5 (enterprise management incentives), in paragraph 39 (company reorganisations), in sub-paragraph (2)(b), after “section 899” insert “or 901F”.</p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Energy Act 2004</heading><paragraph eId="schedule-9-paragraph-27" class="schProv1"><num>27</num><content><p>In Part 2 of Schedule 20 to the Energy Act 2004 (conduct of energy administration: modifications of Schedule B1 to the Insolvency Act 1986), in paragraph 16(2), after “section 899” insert “or 901F”.</p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Income Tax (Trading and Other Income) Act 2005</heading><paragraph eId="schedule-9-paragraph-28" class="schProv1"><num>28</num><content><p>In Part 2 of the Income Tax (Trading and Other Income) Act 2005 (trading income), in section 259 (meaning of “statutory insolvency arrangement”), in paragraph (b), after “Part 26” insert “or 26A”.</p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Insolvency (Northern Ireland) Order 2005 (<ref eId="c00105" href="http://www.legislation.gov.uk/id/nisi/2005/1455">S.I. 2005/1455 (N.I. 10)</ref>)</heading><paragraph eId="schedule-9-paragraph-29" class="schProv1"><num>29</num><content><p><mod>In Article 10 of the Insolvency (Northern Ireland) Order 2005 (application of law about company arrangement or administration to non-company), in paragraph (3), omit the “and” before sub-paragraph (c) and after that sub-paragraph insert <quotedText startQuote="“">, and</quotedText><quotedStructure endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="order" ukl:Context="main" ukl:Format="double"><level class="para1"><num>(d)</num><content><p>Part 26A of that Act (compromise or arrangement with creditors where company in financial difficulty).</p></content></level></quotedStructure></mod></p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Companies Act 2006</heading><paragraph eId="schedule-9-paragraph-30" class="schProv1"><num>30</num><content><p>The Companies Act 2006 is amended as follows.</p></content></paragraph><paragraph eId="schedule-9-paragraph-31" class="schProv1"><num>31</num><content><p><mod>In section 32(1) (constitutional documents to be provided to members), after paragraph (d) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="double"><level class="para1"><num>(da)</num><content><p>a copy of any court order under section 901F (order sanctioning compromise or arrangement for company in financial difficulty) or section 901J (order facilitating reconstruction or amalgamation);</p></content></level></quotedStructure><inline name="appendText">.</inline></mod></p></content></paragraph><paragraph eId="schedule-9-paragraph-32" class="schProv1"><num>32</num><content><p>In section 93 (recent allotment of shares for non-cash consideration), in subsection (7)(b)(i), after “Part 26” insert “or 26A”.</p></content></paragraph><paragraph eId="schedule-9-paragraph-33" class="schProv1"><num>33</num><subparagraph eId="schedule-9-paragraph-33-1"><num>(1)</num><content><p>Part 17 (a company’s share capital) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-9-paragraph-33-2"><num>(2)</num><content><p><mod>In section 549 (exercise by directors of powers to allot shares etc), after subsection (3) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="double"><subsection><num>(3A)</num><content><p>Subsection (1) does not apply to anything done for the purposes of a compromise or arrangement sanctioned in accordance with Part 26A (arrangements and reconstructions: companies in financial difficulty).</p></content></subsection></quotedStructure></mod></p></content></subparagraph><subparagraph eId="schedule-9-paragraph-33-3"><num>(3)</num><intro><p>In Chapter 3 (allotment of equity securities: existing shareholders’ right of pre-emption)—</p></intro><level class="para1" eId="schedule-9-paragraph-33-3-a"><num>(a)</num><content><p>in section 561 (existing shareholders’ right of pre-emption), in subsection (5)(a), for “566” substitute “566A”;</p></content></level><level class="para1" eId="schedule-9-paragraph-33-3-b"><num>(b)</num><content><p><mod>after section 566 insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="double"><section><num>566A</num><heading>Exception to pre-emption right: companies in financial difficulty</heading><content><p>Section 561(1) (existing shareholders’ right of pre-emption) does not apply to an allotment of equity securities that is carried out as part of a compromise or arrangement sanctioned in accordance with Part 26A (arrangements and reconstructions: companies in financial difficulty).</p></content></section></quotedStructure></mod></p></content></level></subparagraph><subparagraph eId="schedule-9-paragraph-33-4"><num>(4)</num><content><p>In section 594 (exception to valuation requirement: arrangement with another company), in subsection (6)(a)(i), after “Part 26” insert “or 26A”.</p></content></subparagraph><subparagraph eId="schedule-9-paragraph-33-5"><num>(5)</num><content><p>In section 616(1) (interpretation of Chapter 7), in paragraph (a) of the definition of “arrangement”, after “Part 26” insert “or 26A”.</p></content></subparagraph><subparagraph eId="schedule-9-paragraph-33-6"><num>(6)</num><content><p>In section 617 (alteration of share capital of limited company), in subsection (5)(e)(i), after “Part 26” insert “or 26A”.</p></content></subparagraph><subparagraph eId="schedule-9-paragraph-33-7"><num>(7)</num><intro><p>In section 632 (variation of class rights: saving for court’s powers under other provisions)—</p></intro><level class="para1" eId="schedule-9-paragraph-33-7-a"><num>(a)</num><content><p>in the entry for Part 26, after “reconstructions” insert “: general”;</p></content></level><level class="para1" eId="schedule-9-paragraph-33-7-b"><num>(b)</num><content><p><mod>after that entry (but before the “or”) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="double"><blockList class="unordered none" ukl:Name="UnorderedList" ukl:Decoration="none"><item><p>Part 26A (arrangements and reconstructions: companies in financial difficulty),</p></item></blockList></quotedStructure><inline name="appendText">.</inline></mod></p></content></level></subparagraph><subparagraph eId="schedule-9-paragraph-33-8"><num>(8)</num><intro><p>In section 641 (circumstances in which a company may reduce its share capital)—</p></intro><level class="para1" eId="schedule-9-paragraph-33-8-a"><num>(a)</num><content><p>in subsection (2C), in the definition of “scheme”, after “Part 26” insert “or 26A”;</p></content></level><level class="para1" eId="schedule-9-paragraph-33-8-b"><num>(b)</num><content><p>in subsection (7), for the words from “the phrase” to “Part 26”” substitute “the phrases “sanctioned by the court under Part 26” and “sanctioned by the court under Part 26A””.</p></content></level></subparagraph><subparagraph eId="schedule-9-paragraph-33-9"><num>(9)</num><intro><p>In section 649 (registration of order and statement of capital), in subsection (3)—</p></intro><level class="para1" eId="schedule-9-paragraph-33-9-a"><num>(a)</num><content><p>in paragraph (a), after “reconstructions” insert “: general”;</p></content></level><level class="para1" eId="schedule-9-paragraph-33-9-b"><num>(b)</num><content><p><mod>after that paragraph insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="double"><level class="para1"><num>(aa)</num><intro><p>in the case of a reduction of share capital that forms part of a compromise or arrangement sanctioned by the court under Part 26A (arrangements and reconstructions: companies in financial difficulty)—</p></intro><level class="para2"><num>(i)</num><content><p>in the case of any company other than one to which sub-paragraph (ii) applies, on delivery of the order and statement of capital to the registrar;</p></content></level><level class="para2"><num>(ii)</num><content><p>in the case of an overseas company that is not required to register particulars under section 1046, on publication of the order and statement of capital in the Gazette;</p></content></level><level class="para2"><num>(iii)</num><content><p>in either case, if the court so orders, on the registration of the order and statement of capital;</p></content></level></level></quotedStructure><inline name="appendText">;</inline></mod></p></content></level><level class="para1" eId="schedule-9-paragraph-33-9-c"><num>(c)</num><content><p>in paragraph (b), for “any other case” substitute “any case not falling within paragraph (a) or (aa)”.</p></content></level></subparagraph></paragraph><paragraph eId="schedule-9-paragraph-34" class="schProv1"><num>34</num><content><p>In section 681 (unconditional exceptions to prohibition against financial assistance), in subsection (2)(e), after “Part 26” insert “or 26A”.</p></content></paragraph><paragraph eId="schedule-9-paragraph-35" class="schProv1"><num>35</num><subparagraph eId="schedule-9-paragraph-35-1"><num>(1)</num><content><p>Part 26 (arrangements and reconstructions) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-9-paragraph-35-2"><num>(2)</num><content><p>The heading becomes “<inline name="smallCaps">Arrangements and reconstructions: general</inline>”.</p></content></subparagraph><subparagraph eId="schedule-9-paragraph-35-3"><num>(3)</num><content><p><mod>In section 896, at the end insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="double"><subsection><num>(4)</num><content><p>This section is subject to section 899A (moratorium debts, etc).</p></content></subsection></quotedStructure></mod></p></content></subparagraph><subparagraph eId="schedule-9-paragraph-35-4"><num>(4)</num><intro><p>In section 899 (court sanction for compromise or arrangement)—</p></intro><level class="para1" eId="schedule-9-paragraph-35-4-a"><num>(a)</num><content><p><mod>after subsection (1) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="double"><subsection><num>(1A)</num><content><p>Subsection (1) is subject to section 899A (moratorium debts, etc).</p></content></subsection></quotedStructure><inline name="appendText">;</inline></mod></p></content></level><level class="para1" eId="schedule-9-paragraph-35-4-b"><num>(b)</num><content><p>omit subsection (5).</p></content></level></subparagraph><subparagraph eId="schedule-9-paragraph-35-5"><num>(5)</num><content><p><mod>After section 899 insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="double"><hcontainer name="crossheading" ukl:Name="Pblock"><heading>Special cases</heading><section><num>899A</num><heading>Moratorium debts, etc</heading><subsection><num>(1)</num><intro><p>This section applies where—</p></intro><level class="para1"><num>(a)</num><content><p>an application under section 896 in respect of a compromise or arrangement is made before the end of the period of 12 weeks beginning with the day after the end of any moratorium for the company under Part A1 of the Insolvency Act 1986 or Part 1A of the Insolvency (Northern Ireland) Order 1989 (<ref eId="c00106" href="http://www.legislation.gov.uk/id/nisi/1989/2405">S.I. 1989/2405 (N.I. 19)</ref>), and</p></content></level><level class="para1"><num>(b)</num><content><p>the creditors with whom the compromise or arrangement is proposed include any relevant creditors (see subsection (2)).</p></content></level></subsection><subsection><num>(2)</num><intro><p>In this section “relevant creditor” means—</p></intro><level class="para1"><num>(a)</num><content><p>a creditor in respect of a moratorium debt, or</p></content></level><level class="para1"><num>(b)</num><content><p>a creditor in respect of a priority pre-moratorium debt.</p></content></level></subsection><subsection><num>(3)</num><content><p>The relevant creditors may not participate in the meeting summoned under section 896.</p></content></subsection><subsection><num>(4)</num><intro><p>For the purposes of section 897 (statement to be circulated or made available)—</p></intro><level class="para1"><num>(a)</num><content><p>the requirement in section 897(1)(a) is to be read as including a requirement to send each relevant creditor a statement complying with section 897;</p></content></level><level class="para1"><num>(b)</num><content><p>any reference to creditors entitled to attend the meeting summoned under section 896 includes a reference to relevant creditors.</p></content></level></subsection><subsection><num>(5)</num><content><p>The court may not sanction the compromise or arrangement under section 899 if it includes provision in respect of any relevant creditor who has not agreed to it.</p></content></subsection><subsection><num>(6)</num><intro><p>In this section—</p></intro><hcontainer name="definition"><intro><p>“moratorium debt”—</p></intro><level class="para1"><num>(a)</num><content><p>in the case of a moratorium under Part A1 of the Insolvency Act 1986, has the same meaning as in section 174A of that Act;</p></content></level><level class="para1"><num>(b)</num><content><p>in the case of a moratorium under Part 1A of the Insolvency (Northern Ireland) Order 1989, has the same meaning as in Article 148A of that Order;</p></content></level></hcontainer><hcontainer name="definition"><intro><p>“priority pre-moratorium debt”—</p></intro><level class="para1"><num>(a)</num><content><p>in the case of a moratorium under Part A1 of the Insolvency Act 1986, has the same meaning as in section 174A of that Act;</p></content></level><level class="para1"><num>(b)</num><content><p>in the case of a moratorium under Part 1A of the Insolvency (Northern Ireland) Order 1989, has the same meaning as in Article 148A of that Order.</p></content></level></hcontainer></subsection></section></hcontainer></quotedStructure></mod></p></content></subparagraph></paragraph><paragraph eId="schedule-9-paragraph-36" class="schProv1"><num>36</num><subparagraph eId="schedule-9-paragraph-36-1"><num>(1)</num><content><p>Part 27 (mergers and divisions of public companies) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-9-paragraph-36-2"><num>(2)</num><intro><p>In section 903 (relationship of Part 27 to Part 26)—</p></intro><level class="para1" eId="schedule-9-paragraph-36-2-a"><num>(a)</num><content><p>in the heading, for “<b>Part 26</b>” substitute “<b>Parts 26 and 26A</b>”;</p></content></level><level class="para1" eId="schedule-9-paragraph-36-2-b"><num>(b)</num><content><p>in subsection (1), for “Part 26 (arrangements and reconstructions)” substitute “Part 26 (arrangements and reconstructions: general) or Part 26A (arrangements and reconstructions: companies in financial difficulty)”;</p></content></level><level class="para1" eId="schedule-9-paragraph-36-2-c"><num>(c)</num><content><p>in subsections (2) and (3), for “Part 26” substitute “Parts 26 and 26A”.</p></content></level></subparagraph><subparagraph eId="schedule-9-paragraph-36-3"><num>(3)</num><content><p>In section 907 (approval of members of merging companies), in subsection (2), after “917” insert “, 917A”.</p></content></subparagraph><subparagraph eId="schedule-9-paragraph-36-4"><num>(4)</num><intro><p>In section 908 (directors’ explanatory report (merger))—</p></intro><level class="para1" eId="schedule-9-paragraph-36-4-a"><num>(a)</num><content><p><mod>in subsection (2), for paragraph (a) (but not the “and” following it) substitute—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="double"><level class="para1"><num>(a)</num><content><p>the required statement explaining the effect of the compromise or arrangement,</p></content></level></quotedStructure><inline name="appendText">;</inline></mod></p></content></level><level class="para1" eId="schedule-9-paragraph-36-4-b"><num>(b)</num><content><p><mod>after that subsection insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="double"><subsection><num>(2A)</num><intro><p>In subsection (2) “the required statement explaining the effect of the compromise or arrangement” means—</p></intro><level class="para1"><num>(a)</num><content><p>in a case where a meeting is summoned under section 896 in relation to the compromise or arrangement, the statement required by section 897;</p></content></level><level class="para1"><num>(b)</num><content><p>in a case where a meeting is summoned under section 901C in relation to the compromise or arrangement, the statement required by section 901D.</p></content></level></subsection></quotedStructure></mod></p></content></level></subparagraph><subparagraph eId="schedule-9-paragraph-36-5"><num>(5)</num><intro><p>In section 912 (approval of articles of new transferee company (merger))—</p></intro><level class="para1" eId="schedule-9-paragraph-36-5-a"><num>(a)</num><content><p>the wording of the section becomes subsection (1) of that section;</p></content></level><level class="para1" eId="schedule-9-paragraph-36-5-b"><num>(b)</num><content><p><mod>at the end of that subsection insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="double"><p>This is subject to subsection (2).</p></quotedStructure><inline name="appendText">;</inline></mod></p></content></level><level class="para1" eId="schedule-9-paragraph-36-5-c"><num>(c)</num><content><p><mod>after that subsection insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="double"><subsection><num>(2)</num><content><p>In the case of a compromise or arrangement to be sanctioned under Part 26A, it is not necessary for the articles of the transferee company (or a draft of them) to be approved by ordinary resolution of the company in respect of which the compromise or arrangement is proposed.</p></content></subsection></quotedStructure></mod></p></content></level></subparagraph><subparagraph eId="schedule-9-paragraph-36-6"><num>(6)</num><intro><p>In section 915 (circumstances in which certain particulars and reports not required (merger))—</p></intro><level class="para1" eId="schedule-9-paragraph-36-6-a"><num>(a)</num><content><p>in subsection (3), for “Section 897” substitute “In a case where a meeting has been summoned under section 896 in relation to the compromise or arrangement, section 897”;</p></content></level><level class="para1" eId="schedule-9-paragraph-36-6-b"><num>(b)</num><content><p><mod>after that subsection insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="double"><subsection><num>(3A)</num><content><p>In a case where a meeting has been summoned under section 901C in relation to the compromise or arrangement, section 901D (explanatory statement to be circulated or made available) does not apply.</p></content></subsection></quotedStructure></mod></p></content></level></subparagraph><subparagraph eId="schedule-9-paragraph-36-7"><num>(7)</num><content><p>In section 915A (other circumstances in which reports and inspection not required (merger)), in subsection (5), after “section 900(2)” insert “or, as the case may be, section 901J(2)”.</p></content></subparagraph><subparagraph eId="schedule-9-paragraph-36-8"><num>(8)</num><content><p><mod>Before section 918 (but after the heading “<i>Other exceptions</i>”) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="double"><section><num>917A</num><heading>Other circumstances in which meeting of members of transferor company not required (merger)</heading><content><p>In the case of a compromise or arrangement to be sanctioned under Part 26A, it is not necessary for the scheme to be approved by the members of the company in respect of which the compromise or arrangement is proposed.</p></content></section></quotedStructure></mod></p></content></subparagraph><subparagraph eId="schedule-9-paragraph-36-9"><num>(9)</num><intro><p>In section 918A (agreement to dispense with reports etc (merger))—</p></intro><level class="para1" eId="schedule-9-paragraph-36-9-a"><num>(a)</num><content><p>in subsection (2), for “the application to the court under section 896” substitute “the relevant application”;</p></content></level><level class="para1" eId="schedule-9-paragraph-36-9-b"><num>(b)</num><content><p><mod>after that subsection insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="double"><subsection><num>(3)</num><intro><p>In subsection (2) “the relevant application” means—</p></intro><level class="para1"><num>(a)</num><content><p>in the case of a compromise or arrangement to be sanctioned under Part 26, the application to the court under section 896;</p></content></level><level class="para1"><num>(b)</num><content><p>in the case of a compromise or arrangement to be sanctioned under Part 26A, the application to the court under section 901C(1).</p></content></level></subsection></quotedStructure></mod></p></content></level></subparagraph><subparagraph eId="schedule-9-paragraph-36-10"><num>(10)</num><intro><p>In section 922 (approval of members of companies involved in the division)—</p></intro><level class="para1" eId="schedule-9-paragraph-36-10-a"><num>(a)</num><content><p>in subsection (1), for “compromise or arrangement” substitute “scheme”;</p></content></level><level class="para1" eId="schedule-9-paragraph-36-10-b"><num>(b)</num><content><p>in subsection (2), after “931” insert “, 931A”.</p></content></level></subparagraph><subparagraph eId="schedule-9-paragraph-36-11"><num>(11)</num><intro><p>In section 923 (directors’ explanatory report (division))—</p></intro><level class="para1" eId="schedule-9-paragraph-36-11-a"><num>(a)</num><content><p><mod>in subsection (2), for paragraph (a) (but not the “and” following it) substitute—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="double"><level class="para1"><num>(a)</num><content><p>the required statement explaining the effect of the compromise or arrangement,</p></content></level></quotedStructure><inline name="appendText">;</inline></mod></p></content></level><level class="para1" eId="schedule-9-paragraph-36-11-b"><num>(b)</num><content><p><mod>after that subsection insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="double"><subsection><num>(2A)</num><intro><p>In subsection (2) “the required statement explaining the effect of the compromise or arrangement” means—</p></intro><level class="para1"><num>(a)</num><content><p>in a case where a meeting is summoned under section 896 in relation to the compromise or arrangement, the statement required by section 897;</p></content></level><level class="para1"><num>(b)</num><content><p>in a case where a meeting is summoned under section 901C in relation to the compromise or arrangement, the statement required by section 901D.</p></content></level></subsection></quotedStructure></mod></p></content></level></subparagraph><subparagraph eId="schedule-9-paragraph-36-12"><num>(12)</num><content><p>In section 925 (supplementary accounting statement (division)), in subsection (1)(b), after “931” insert “, 931A”.</p></content></subparagraph><subparagraph eId="schedule-9-paragraph-36-13"><num>(13)</num><intro><p>In section 928 (approval of articles of new transferee company (division))—</p></intro><level class="para1" eId="schedule-9-paragraph-36-13-a"><num>(a)</num><content><p>the wording of the section becomes subsection (1) of that section;</p></content></level><level class="para1" eId="schedule-9-paragraph-36-13-b"><num>(b)</num><content><p><mod>after that subsection insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="double"><subsection><num>(2)</num><content><p>Subsection (1) does not apply in the case of a compromise or arrangement to be sanctioned under Part 26A.</p></content></subsection></quotedStructure></mod></p></content></level></subparagraph><subparagraph eId="schedule-9-paragraph-36-14"><num>(14)</num><content><p><mod>Before section 932 (but after the heading “<i>Other exceptions</i>”) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="double"><section><num>931A</num><heading>Other circumstances in which meeting of members of transferor company not required (division)</heading><content><p>In the case of a compromise or arrangement to be sanctioned under Part 26A, it is not necessary for the scheme to be approved by the members of the transferor company.</p></content></section></quotedStructure></mod></p></content></subparagraph><subparagraph eId="schedule-9-paragraph-36-15"><num>(15)</num><intro><p>In section 933 (agreement to dispense with reports etc (division))—</p></intro><level class="para1" eId="schedule-9-paragraph-36-15-a"><num>(a)</num><content><p>in subsection (3), for “the application to the court under section 896” substitute “the relevant application”;</p></content></level><level class="para1" eId="schedule-9-paragraph-36-15-b"><num>(b)</num><content><p><mod>after that subsection insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="double"><subsection><num>(4)</num><intro><p>In subsection (3) “the relevant application” means—</p></intro><level class="para1"><num>(a)</num><content><p>in the case of a compromise or arrangement to be sanctioned under Part 26, the application to the court under section 896;</p></content></level><level class="para1"><num>(b)</num><content><p>in the case of a compromise or arrangement to be sanctioned under Part 26A, the application to the court under section 901C(1).</p></content></level></subsection></quotedStructure></mod></p></content></level></subparagraph><subparagraph eId="schedule-9-paragraph-36-16"><num>(16)</num><content><p>In section 939 (court to fix date for transfer of undertaking etc of transferor company), in subsection (1)(b), after “section 900” insert “or, as the case may be, section 901J”.</p></content></subparagraph><subparagraph eId="schedule-9-paragraph-36-17"><num>(17)</num><intro><p>In section 940 (liability of transferee companies for each other’s defaults)—</p></intro><level class="para1" eId="schedule-9-paragraph-36-17-a"><num>(a)</num><content><p>in subsection (2), after “If” insert “, in the case of a compromise or arrangement to be sanctioned under Part 26,”;</p></content></level><level class="para1" eId="schedule-9-paragraph-36-17-b"><num>(b)</num><content><p><mod>after that subsection insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="double"><subsection><num>(2A)</num><content><p>If, in the case of a compromise or arrangement to be sanctioned under Part 26A, a number representing 75% in value of the creditors or any class of creditors of the transferor company, present and voting either in person or by proxy at a meeting summoned for the purposes of agreeing to the scheme, so agree, subsection (1) does not apply in relation to the liabilities owed to the creditors or that class of creditors.</p></content></subsection></quotedStructure></mod></p></content></level></subparagraph></paragraph><paragraph eId="schedule-9-paragraph-37" class="schProv1"><num>37</num><subparagraph eId="schedule-9-paragraph-37-1"><num>(1)</num><content><p>In Part 31 (dissolution and restoration to the register), Chapter 1 (striking off) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-9-paragraph-37-2"><num>(2)</num><content><p>In section 1005 (circumstances in which application for voluntary striking off may not be made: other proceedings not concluded), in subsection (1)(a), after “Part 26” insert “or 26A”.</p></content></subparagraph><subparagraph eId="schedule-9-paragraph-37-3"><num>(3)</num><content><p>In section 1009 (circumstances in which application for voluntary striking off to be withdrawn), in subsection (1)(b), after “Part 26” insert “or 26A”.</p></content></subparagraph></paragraph><paragraph eId="schedule-9-paragraph-38" class="schProv1"><num>38</num><content><p>In section 1078 (documents subject to disclosure requirements), in subsection (3), for “section 899 or 900” substitute “section 899, 900, 901F or 901J”.</p></content></paragraph><paragraph eId="schedule-9-paragraph-39" class="schProv1"><num>39</num><subparagraph eId="schedule-9-paragraph-39-1"><num>(1)</num><content><p>Schedule 8 (index of defined expressions) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-9-paragraph-39-2"><num>(2)</num><content><p><mod>In the entry for “arrangement”, after the entry for Part 26 insert—<quotedStructure startQuote="“" endQuote="”" uk:context="schedule" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="schedule" ukl:Format="double"><tblock class="table" ukl:Orientation="portrait"><foreign><default:table xmlns="http://www.w3.org/1999/xhtml"><default:col span="1" style="width:50%"/><default:col span="1" style="width:50%"/><default:tbody><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">—in Part 26A</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">section 901A(4)</p></default:td></default:tr></default:tbody></default:table></foreign></tblock></quotedStructure><inline name="appendText">.</inline></mod></p></content></subparagraph><subparagraph eId="schedule-9-paragraph-39-3"><num>(3)</num><content><p><mod>In the entry for “company”, after the entry for Part 26 insert—<quotedStructure startQuote="“" endQuote="”" uk:context="schedule" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="schedule" ukl:Format="double"><tblock class="table" ukl:Orientation="portrait"><foreign><default:table xmlns="http://www.w3.org/1999/xhtml"><default:col span="1" style="width:50%"/><default:col span="1" style="width:50%"/><default:tbody><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">—in Part 26A</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">section 901A(4)</p></default:td></default:tr></default:tbody></default:table></foreign></tblock></quotedStructure><inline name="appendText">.</inline></mod></p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Housing and Regeneration Act 2008</heading><paragraph eId="schedule-9-paragraph-40" class="schProv1"><num>40</num><content><p><mod>In Part 2 of the Housing and Regeneration Act 2008 (regulation of social housing), in section 160 (company: arrangements and reconstructions), at the end insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="double"><subsection><num>(7)</num><content><p>The registered provider must notify the regulator of any order under section 901F of the Companies Act 2006 (court sanction for compromise or arrangement).</p></content></subsection><subsection><num>(8)</num><content><p>An order under section 901F of the Companies Act 2006 does not take effect until the registered provider has confirmed to the registrar of companies that the regulator has been notified.</p></content></subsection><subsection><num>(9)</num><content><p>The registered provider must notify the regulator of any order under section 901J of the Companies Act 2006 (powers of court to facilitate reconstruction or amalgamation).</p></content></subsection><subsection><num>(10)</num><content><p>The requirement in section 901J(6) of the Companies Act 2006 (sending copy of order to registrar) is satisfied only if the copy is accompanied by confirmation that the regulator has been notified.</p></content></subsection></quotedStructure></mod></p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Corporation Tax Act 2009</heading><paragraph eId="schedule-9-paragraph-41" class="schProv1"><num>41</num><content><p>In section 1319 of the Corporation Tax Act 2009 (other definitions), in paragraph (b) of the definition of “statutory insolvency arrangement”, after “Part 26” insert “or 26A”.</p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Corporation Tax Act 2010</heading><paragraph eId="schedule-9-paragraph-42" class="schProv1"><num>42</num><content><p>The Corporation Tax Act 2010 is amended as follows.</p></content></paragraph><paragraph eId="schedule-9-paragraph-43" class="schProv1"><num>43</num><subparagraph eId="schedule-9-paragraph-43-1"><num>(1)</num><content><p>Part 7ZA (restrictions on obtaining certain deductions) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-9-paragraph-43-2"><num>(2)</num><content><p>In section 269ZH (meaning of “insolvency procedures”), in subsection (5)(a), after “Part 26” insert “or 26A”.</p></content></subparagraph><subparagraph eId="schedule-9-paragraph-43-3"><num>(3)</num><content><p>In section 269ZY (meaning of “relevant reversal credit”), in subsection (8)(b), after “Part 26” insert “or 26A”.</p></content></subparagraph></paragraph><paragraph eId="schedule-9-paragraph-44" class="schProv1"><num>44</num><content><p>In Part 14 (change in company ownership), in section 724A (disregard of change in parent company), in subsection (7)(a), after “Part 26” insert “or 26A”.</p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Third Parties (Rights against Insurers) Act 2010</heading><paragraph eId="schedule-9-paragraph-45" class="schProv1"><num>45</num><content><p>In section 6 of the Third Parties (Rights against Insurers) Act 2010 (corporate bodies etc), in subsection (1), after “section 899” insert “or 901F”.</p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Housing (Scotland) Act <ref eId="c00107" href="http://www.legislation.gov.uk/id/asp/2010/17">2010 (asp 17)</ref></heading><paragraph eId="schedule-9-paragraph-46" class="schProv1"><num>46</num><content><p>Part 8 of the Housing (Scotland) Act 2010 (registered social landlords: organisational change etc) is amended as follows.</p></content></paragraph><paragraph eId="schedule-9-paragraph-47" class="schProv1"><num>47</num><subparagraph eId="schedule-9-paragraph-47-1"><num>(1)</num><content><p>Section 100A (restructuring by company: proposed restructuring) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-9-paragraph-47-2"><num>(2)</num><intro><p>In subsection (1)—</p></intro><level class="para1" eId="schedule-9-paragraph-47-2-a"><num>(a)</num><content><p>for “This section applies” substitute “Subsections (2) and (3) apply”;</p></content></level><level class="para1" eId="schedule-9-paragraph-47-2-b"><num>(b)</num><content><p>omit the “and” after paragraph (b);</p></content></level><level class="para1" eId="schedule-9-paragraph-47-2-c"><num>(c)</num><content><p><mod>for paragraph (c) substitute—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="double"><level class="para1"><num>(c)</num><content><p>the restructuring will result in a tenant under a Scottish secure tenancy ceasing to be a tenant of the company in respect of which the order is made, and</p></content></level><level class="para1"><num>(d)</num><content><p>the company is not being wound up and is not in administration.</p></content></level></quotedStructure></mod></p></content></level></subparagraph><subparagraph eId="schedule-9-paragraph-47-3"><num>(3)</num><content><p>In subsection (3), for “this section” substitute “this subsection”.</p></content></subparagraph><subparagraph eId="schedule-9-paragraph-47-4"><num>(4)</num><content><p><mod>After subsection (3) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="double"><subsection><num>(4)</num><intro><p>Subsections (5) and (6) apply where—</p></intro><level class="para1"><num>(a)</num><content><p>a court order is made in respect of the company under section 901C(1) of the Companies Act 2006,</p></content></level><level class="para1"><num>(b)</num><content><p>the meeting summoned by the court order is to agree a restructuring of a type mentioned in section 901J(1) of that Act,</p></content></level><level class="para1"><num>(c)</num><content><p>the restructuring will result in a tenant under a Scottish secure tenancy ceasing to be a tenant of the company in respect of which the order is made, and</p></content></level><level class="para1"><num>(d)</num><content><p>the company is not being wound up and is not in administration.</p></content></level></subsection><subsection><num>(5)</num><content><p>The company must comply with sections 115 to 120 (as applied by subsection (6)) in relation to the proposed restructuring.</p></content></subsection><subsection><num>(6)</num><content><p><mod>Sections 115 to 120 apply in relation to a proposed restructuring to which this subsection applies as they apply in relation to a proposed disposal to which section 107(4) applies, subject to the modification that section 115A(2) has effect as if, for paragraph (b), there were substituted—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="double"><level class="para1"><num>(b)</num><content><p>before the meeting summoned by the court order under section 901C of the Companies Act 2006 takes place,</p></content></level></quotedStructure></mod></p></content></subsection></quotedStructure><inline name="appendText">.</inline></mod></p></content></subparagraph></paragraph><paragraph eId="schedule-9-paragraph-48" class="schProv1"><num>48</num><subparagraph eId="schedule-9-paragraph-48-1"><num>(1)</num><content><p>Section 101 (restructuring of company) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-9-paragraph-48-2"><num>(2)</num><content><p><mod>After subsection (1) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="double"><subsection><num>(1A)</num><intro><p>This section also applies where—</p></intro><level class="para1"><num>(a)</num><content><p>a court order is made in respect of a company under section 901F or 901J of the Companies Act 2006, and</p></content></level><level class="para1"><num>(b)</num><content><p>the restructuring to which the order relates is of a type mentioned in section 901J(1) of that Act.</p></content></level></subsection></quotedStructure></mod></p></content></subparagraph><subparagraph eId="schedule-9-paragraph-48-3"><num>(3)</num><intro><p>In subsection (2)—</p></intro><level class="para1" eId="schedule-9-paragraph-48-3-a"><num>(a)</num><content><p>after “subsection (1)” insert “or (1A)”;</p></content></level><level class="para1" eId="schedule-9-paragraph-48-3-b"><num>(b)</num><content><p>in paragraph (b), after “section 900(6)” insert “or (as the case may be) section 901J(6)”.</p></content></level></subparagraph><subparagraph eId="schedule-9-paragraph-48-4"><num>(4)</num><content><p>In subsection (3)(a), after “section 100A(3)” insert “or (6) (as the case may be)”.</p></content></subparagraph><subparagraph eId="schedule-9-paragraph-48-5"><num>(5)</num><content><p>In subsection (5), after “section 900” insert “or 901J”.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Financial Services (Banking Reform) Act 2013</heading><paragraph eId="schedule-9-paragraph-49" class="schProv1"><num>49</num><subparagraph eId="schedule-9-paragraph-49-1"><num>(1)</num><content><p>Part 6 of the Financial Services (Banking Reform) Act 2013 (special administration for operators of certain infrastructure systems) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-9-paragraph-49-2"><num>(2)</num><intro><p>In section 111 (financial market infrastructure administration)—</p></intro><level class="para1" eId="schedule-9-paragraph-49-2-a"><num>(a)</num><content><p>omit the “and” after paragraph (a), and</p></content></level><level class="para1" eId="schedule-9-paragraph-49-2-b"><num>(b)</num><content><p><mod>after paragraph (b) insert <quotedText startQuote="“">, and</quotedText><quotedStructure endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="double"><level class="para1"><num>(c)</num><content><p>confers power on the Bank of England to participate in proceedings under Part 26A of the Companies Act 2006 (arrangements and reconstructions: companies in financial difficulty).</p></content></level></quotedStructure></mod></p></content></level></subparagraph><subparagraph eId="schedule-9-paragraph-49-3"><num>(3)</num><content><p><mod>After section 124 insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="double"><hcontainer name="crossheading" ukl:Name="Pblock"><heading>Powers to participate in Part 26A proceedings</heading><section><num>124A</num><heading>Powers of Bank to participate in Part 26A proceedings</heading><subsection><num>(1)</num><content><p>This section applies where Part 26A of the Companies Act 2006 (“the 2006 Act”) (arrangements and reconstructions: companies in financial difficulty) applies in relation to an infrastructure company.</p></content></subsection><subsection><num>(2)</num><intro><p>A relevant applicant must give notice to the Bank of England of—</p></intro><level class="para1"><num>(a)</num><content><p>any application which the relevant applicant intends to make under section 901C(1) of the 2006 Act, and</p></content></level><level class="para1"><num>(b)</num><content><p>any application which the relevant applicant believes a creditor or member of the company has made, or intends to make, under section 901C(1) of that Act in relation to the company.</p></content></level></subsection><subsection><num>(3)</num><content><p>A relevant applicant may not make an application under section 901C(1) of the 2006 Act in relation to the company without the consent of the Bank of England.</p></content></subsection><subsection><num>(4)</num><intro><p>In this section “relevant applicant”, in relation to a company, means—</p></intro><level class="para1"><num>(a)</num><content><p>the company;</p></content></level><level class="para1"><num>(b)</num><content><p>if the company is being wound up, the liquidator;</p></content></level><level class="para1"><num>(c)</num><content><p>if the company is in administration, the administrator.</p></content></level></subsection><subsection><num>(5)</num><content><p>The Bank of England is entitled to be heard at any hearing of an application made under section 901C or 901F of the 2006 Act in relation to the company.</p></content></subsection><subsection><num>(6)</num><content><p>Any notice or other document required to be sent to a creditor of the company must also be sent to the Bank of England.</p></content></subsection><subsection><num>(7)</num><intro><p>A person appointed for the purpose by the Bank of England is entitled—</p></intro><level class="para1"><num>(a)</num><content><p>to attend any meeting of creditors of the company summoned under section 901C of the 2006 Act;</p></content></level><level class="para1"><num>(b)</num><content><p>to make representations as to any matter for decision at such a meeting.</p></content></level></subsection><subsection><num>(8)</num><content><p>Sections 197, 198 and 202A of the Banking Act 2009, and sections 201 and 202 of that Act, so far as relating to those sections, apply in relation to a failure by an infrastructure company to comply with subsection (2) or (3) above as they apply in relation to a compliance failure within the meaning of Part 5 of that Act.</p></content></subsection></section></hcontainer></quotedStructure></mod></p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Co-operative and Community Benefit Societies Act 2014</heading><paragraph eId="schedule-9-paragraph-50" class="schProv1"><num>50</num><content><p><mod>In section 118 of the Co-operative and Community Benefit Societies Act 2014 (power to apply provisions about company arrangements and administration in relation to registered societies), in subsection (2), after paragraph (c) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="double"><level class="para1"><num>(d)</num><content><p>Part 26A of that Act (compromise or arrangement with creditors where company in financial difficulty).</p></content></level></quotedStructure></mod></p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Mutuals’ Deferred Shares Act 2015</heading><paragraph eId="schedule-9-paragraph-51" class="schProv1"><num>51</num><content><p>In section 2 of the Mutuals’ Deferred Shares Act 2015 (restriction on voting rights), in subsection (2)(b), after “section 896” insert “or 901C”.</p></content></paragraph></hcontainer></part>
<hcontainer xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" name="schedule" eId="schedule-10"><num>SCHEDULE 10<authorialNote class="referenceNote"><p>Section 10</p></authorialNote></num><heading>Winding-up petitions: Great Britain</heading><part eId="schedule-10-part-1"><num>PART 1</num><heading>Prohibition of petitions on basis of statutory demands</heading><paragraph eId="schedule-10-paragraph-1" class="schProv1"><num>1</num><subparagraph eId="schedule-10-paragraph-1-1"><num>(1)</num><content><p>No petition for the winding up of a registered company may be presented under section 124 of the 1986 Act on or after 27 April 2020 on the ground specified in paragraph (a) of section 123(1) of that Act, where the demand referred to in that paragraph was served during the relevant period.</p></content></subparagraph><subparagraph eId="schedule-10-paragraph-1-2"><num>(2)</num><content><p>No petition for the winding up of an unregistered company may be presented under section 124 of the 1986 Act on the ground set out in section 222 of that Act, where the demand referred to in section 222 was served during the relevant period.</p></content></subparagraph><subparagraph eId="schedule-10-paragraph-1-3"><num>(3)</num><intro><p>In this Part of this Schedule, the “relevant period” is the period which—</p></intro><level class="para1" eId="schedule-10-paragraph-1-3-a"><num>(a)</num><content><p>begins with 1 March 2020, and</p></content></level><level class="para1" eId="schedule-10-paragraph-1-3-b"><num>(b)</num><content><p>ends with 30 September 2020.</p></content></level></subparagraph><subparagraph eId="schedule-10-paragraph-1-4"><num>(4)</num><content><p>This paragraph is to be regarded as having come into force on 27 April 2020.</p></content></subparagraph></paragraph></part><part eId="schedule-10-part-2"><num>PART 2</num><heading>Restriction on winding-up petitions and orders</heading><hcontainer name="crossheading" class="schGroup7"><heading>Restriction on winding-up petitions: registered companies</heading><paragraph eId="schedule-10-paragraph-2" class="schProv1"><num>2</num><subparagraph eId="schedule-10-paragraph-2-1"><num>(1)</num><content><p>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 <ref href="#schedule-10-paragraph-2-2">(2)</ref> is met.</p></content></subparagraph><subparagraph eId="schedule-10-paragraph-2-2"><num>(2)</num><intro><p>The condition referred to in sub-paragraph <ref href="#schedule-10-paragraph-2-1">(1)</ref> is that the creditor has reasonable grounds for believing that—</p></intro><level class="para1" eId="schedule-10-paragraph-2-2-a"><num>(a)</num><content><p>coronavirus has not had a financial effect on the company, or</p></content></level><level class="para1" eId="schedule-10-paragraph-2-2-b"><num>(b)</num><content><p>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.</p></content></level></subparagraph><subparagraph eId="schedule-10-paragraph-2-3"><num>(3)</num><content><p>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 <ref href="#schedule-10-paragraph-2-4">(4)</ref> is met.</p></content></subparagraph><subparagraph eId="schedule-10-paragraph-2-4"><num>(4)</num><intro><p>The condition referred to in sub-paragraph <ref href="#schedule-10-paragraph-2-3">(3)</ref> is that the creditor has reasonable grounds for believing that—</p></intro><level class="para1" eId="schedule-10-paragraph-2-4-a"><num>(a)</num><content><p>coronavirus has not had a financial effect on the company, or</p></content></level><level class="para1" eId="schedule-10-paragraph-2-4-b"><num>(b)</num><content><p>the relevant ground would apply even if coronavirus had not had a financial effect on the company.</p></content></level></subparagraph><subparagraph eId="schedule-10-paragraph-2-5"><num>(5)</num><content><p>This paragraph is to be regarded as having come into force on 27 April 2020.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Restriction on winding-up petitions: unregistered companies</heading><paragraph eId="schedule-10-paragraph-3" class="schProv1"><num>3</num><subparagraph eId="schedule-10-paragraph-3-1"><num>(1)</num><content><p>A creditor may not during the relevant period present a petition under section 124 of the 1986 Act for the winding up of an unregistered company on a ground specified in section 222, 223 or 224(1)(a) to (c) of that Act (“the relevant ground”), unless the condition in sub-paragraph <ref href="#schedule-10-paragraph-3-2">(2)</ref> is met.</p></content></subparagraph><subparagraph eId="schedule-10-paragraph-3-2"><num>(2)</num><intro><p>The condition referred to in sub-paragraph <ref href="#schedule-10-paragraph-3-1">(1)</ref> is that the creditor has reasonable grounds for believing that—</p></intro><level class="para1" eId="schedule-10-paragraph-3-2-a"><num>(a)</num><content><p>coronavirus has not had a financial effect on the company, or</p></content></level><level class="para1" eId="schedule-10-paragraph-3-2-b"><num>(b)</num><content><p>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.</p></content></level></subparagraph><subparagraph eId="schedule-10-paragraph-3-3"><num>(3)</num><content><p>A creditor may not during the relevant period present a petition under section 124 of the 1986 Act for the winding up of an unregistered company on the ground specified in section 224(1)(d) or (2) of that Act (“the relevant ground”), unless the condition in sub-paragraph <ref href="#schedule-10-paragraph-3-4">(4)</ref> is met.</p></content></subparagraph><subparagraph eId="schedule-10-paragraph-3-4"><num>(4)</num><intro><p>The condition referred to in sub-paragraph <ref href="#schedule-10-paragraph-3-3">(3)</ref> is that the creditor has reasonable grounds for believing that—</p></intro><level class="para1" eId="schedule-10-paragraph-3-4-a"><num>(a)</num><content><p>coronavirus has not had a financial effect on the company, or</p></content></level><level class="para1" eId="schedule-10-paragraph-3-4-b"><num>(b)</num><content><p>the relevant ground would apply even if coronavirus had not had a financial effect on the company.</p></content></level></subparagraph><subparagraph eId="schedule-10-paragraph-3-5"><num>(5)</num><content><p>This paragraph is to be regarded as having come into force on 27 April 2020.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Restriction on winding-up petitions: petitions made before commencement</heading><paragraph eId="schedule-10-paragraph-4" class="schProv1"><num>4</num><subparagraph eId="schedule-10-paragraph-4-1"><num>(1)</num><intro><p>This paragraph applies where a creditor presents a petition under section 124 of the 1986 Act—</p></intro><level class="para1" eId="schedule-10-paragraph-4-1-a"><num>(a)</num><content><p>on or after 27 April 2020, but</p></content></level><level class="para1" eId="schedule-10-paragraph-4-1-b"><num>(b)</num><content><p>before the day on which this Schedule comes into force.</p></content></level></subparagraph><subparagraph eId="schedule-10-paragraph-4-2"><num>(2)</num><content><p>If the court to which the petition is presented is satisfied that the creditor presented it without the condition in paragraph <ref href="#schedule-10-paragraph-2-2">2(2)</ref> or <ref href="#schedule-10-paragraph-2-4">(4)</ref> or paragraph <ref href="#schedule-10-paragraph-3-2">3(2)</ref> or <ref href="#schedule-10-paragraph-3-4">(4)</ref> (as the case may be) being met, the court may make such order as it thinks appropriate to restore the position to what it would have been if the petition had not been presented.</p></content></subparagraph><subparagraph eId="schedule-10-paragraph-4-3"><num>(3)</num><content><p>If it appears to the official receiver or, in Scotland, the interim liquidator that the person who presented the petition did so without the condition in paragraph <ref href="#schedule-10-paragraph-2-2">2(2)</ref> or <ref href="#schedule-10-paragraph-2-4">(4)</ref> or paragraph <ref href="#schedule-10-paragraph-3-2">3(2)</ref> or <ref href="#schedule-10-paragraph-3-4">(4)</ref> (as the case may be) being met, the official receiver or interim liquidator must refer the matter to the court to determine whether to make an order under sub-paragraph <ref href="#schedule-10-paragraph-4-2">(2)</ref>.</p></content></subparagraph><subparagraph eId="schedule-10-paragraph-4-4"><num>(4)</num><content><p>For the purposes of the 2016 Insolvency Rules or Rules of Court in Scotland, a reference under sub-paragraph <ref href="#schedule-10-paragraph-4-3">(3)</ref> is to be treated as if it were an application under section 147 of the 1986 Act.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Restriction on winding-up orders: registered companies</heading><paragraph eId="schedule-10-paragraph-5" class="schProv1"><num>5</num><subparagraph eId="schedule-10-paragraph-5-1"><num>(1)</num><intro><p>This paragraph applies where—</p></intro><level class="para1" eId="schedule-10-paragraph-5-1-a"><num>(a)</num><content><p>a creditor presents a petition for the winding up of a registered company under section 124 of the 1986 Act in the relevant period,</p></content></level><level class="para1" eId="schedule-10-paragraph-5-1-b"><num>(b)</num><content><p>the company is deemed unable to pay its debts on a ground specified in section 123(1) or (2) of that Act, and</p></content></level><level class="para1" eId="schedule-10-paragraph-5-1-c"><num>(c)</num><content><p>it appears to the court that coronavirus had a financial effect on the company before the presentation of the petition.</p></content></level></subparagraph><subparagraph eId="schedule-10-paragraph-5-2"><num>(2)</num><content><p>The court may wind the company up under section 122(1)(f) of the 1986 Act on a ground specified in section 123(1)(a) to (d) of that Act only if the court is satisfied that the facts by reference to which that ground applies would have arisen even if coronavirus had not had a financial effect on the company.</p></content></subparagraph><subparagraph eId="schedule-10-paragraph-5-3"><num>(3)</num><content><p>The court may wind the company up under section 122(1)(f) of the 1986 Act on the ground specified in section 123(1)(e) or (2) of that Act only if the court is satisfied that the ground would apply even if coronavirus had not had a financial effect on the company.</p></content></subparagraph><subparagraph eId="schedule-10-paragraph-5-4"><num>(4)</num><content><p>This paragraph is to be regarded as having come into force on 27 April 2020.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Restriction on winding-up orders: unregistered companies</heading><paragraph eId="schedule-10-paragraph-6" class="schProv1"><num>6</num><subparagraph eId="schedule-10-paragraph-6-1"><num>(1)</num><intro><p>This paragraph applies where—</p></intro><level class="para1" eId="schedule-10-paragraph-6-1-a"><num>(a)</num><content><p>a creditor presents a petition for the winding up of an unregistered company under section 124 of the 1986 Act in the relevant period,</p></content></level><level class="para1" eId="schedule-10-paragraph-6-1-b"><num>(b)</num><content><p>the company is deemed unable to pay its debts on a ground specified in section 222, 223 or 224 of that Act, and</p></content></level><level class="para1" eId="schedule-10-paragraph-6-1-c"><num>(c)</num><content><p>it appears to the court that coronavirus had a financial effect on the company before the presentation of the petition.</p></content></level></subparagraph><subparagraph eId="schedule-10-paragraph-6-2"><num>(2)</num><content><p>The court may wind the company up under section 221(5)(b) of the 1986 Act on a ground specified in section 222, 223 or 224(1)(a) to (c) of that Act only if the court is satisfied that the facts by reference to which that ground applies would have arisen even if coronavirus had not had a financial effect on the company.</p></content></subparagraph><subparagraph eId="schedule-10-paragraph-6-3"><num>(3)</num><content><p>The court may wind the company up under section 221(5)(b) of the 1986 Act on the ground specified in section 224(1)(d) or (2) of that Act only if the court is satisfied that the ground would apply even if coronavirus had not had a financial effect on the company.</p></content></subparagraph><subparagraph eId="schedule-10-paragraph-6-4"><num>(4)</num><content><p>This paragraph is to be regarded as having come into force on 27 April 2020.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Restriction on winding-up orders: orders made before commencement</heading><paragraph eId="schedule-10-paragraph-7" class="schProv1"><num>7</num><subparagraph eId="schedule-10-paragraph-7-1"><num>(1)</num><intro><p>This paragraph applies where—</p></intro><level class="para1" eId="schedule-10-paragraph-7-1-a"><num>(a)</num><content><p>a court makes an order under section 122(1)(f) or 221(5)(b) of the 1986 Act on or after 27 April 2020 but before the day on which this Schedule comes into force, and</p></content></level><level class="para1" eId="schedule-10-paragraph-7-1-b"><num>(b)</num><content><p>the order was not one which the court would have made had paragraphs <ref href="#schedule-10-paragraph-5">5</ref> and <ref href="#schedule-10-paragraph-6">6</ref> been in force at the time.</p></content></level></subparagraph><subparagraph eId="schedule-10-paragraph-7-2"><num>(2)</num><content><p>The court is to be regarded as having had no power to make the order (and, accordingly, the order is to be regarded as void).</p></content></subparagraph><subparagraph eId="schedule-10-paragraph-7-3"><num>(3)</num><content><p>Neither the official receiver nor the liquidator or provisional liquidator is liable in any civil or criminal proceedings for anything done pursuant to the order.</p></content></subparagraph><subparagraph eId="schedule-10-paragraph-7-4"><num>(4)</num><content><p>The court may give such directions to the official receiver, liquidator or provisional liquidator as it thinks fit for the purpose of restoring the company to which the order relates to the position it was in immediately before the petition was presented.</p></content></subparagraph><subparagraph eId="schedule-10-paragraph-7-5"><num>(5)</num><intro><p>If at any time it appears to the official receiver or, in Scotland, the interim liquidator that—</p></intro><level class="para1" eId="schedule-10-paragraph-7-5-a"><num>(a)</num><content><p>an order made by the court under section 122(1)(f) or 221(5)(b) of the 1986 Act is void by virtue of sub-paragraph <ref href="#schedule-10-paragraph-7-2">(2)</ref>, and</p></content></level><level class="para1" eId="schedule-10-paragraph-7-5-b"><num>(b)</num><content><p>it might be appropriate for the court to give directions under sub-paragraph <ref href="#schedule-10-paragraph-7-4">(4)</ref>,</p></content></level><wrapUp><p>the official receiver or interim liquidator must refer the matter to the court to determine whether to give such directions.</p></wrapUp></subparagraph><subparagraph eId="schedule-10-paragraph-7-6"><num>(6)</num><content><p>For the purposes of the 2016 Insolvency Rules or Rules of Court in Scotland, a reference under sub-paragraph <ref href="#schedule-10-paragraph-7-5">(5)</ref> is to be treated as if it were an application under section 147 of the 1986 Act.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Modifications of 1986 Act</heading><paragraph eId="schedule-10-paragraph-8" class="schProv1"><num>8</num><subparagraph eId="schedule-10-paragraph-8-1"><num>(1)</num><intro><p>Paragraphs <ref href="#schedule-10-paragraph-9">9</ref> to <ref href="#schedule-10-paragraph-18">18</ref> apply where—</p></intro><level class="para1" eId="schedule-10-paragraph-8-1-a"><num>(a)</num><content><p>a creditor presents a petition under section 124 of the 1986 Act during the relevant period in relation to a registered or unregistered company, and</p></content></level><level class="para1" eId="schedule-10-paragraph-8-1-b"><num>(b)</num><content><p>the court to which it is presented makes an order under section 122(1)(f) or 221(5)(b) of that Act (“the winding-up order”).</p></content></level></subparagraph><subparagraph eId="schedule-10-paragraph-8-2"><num>(2)</num><content><p>Paragraphs <ref href="#schedule-10-paragraph-9">9</ref> to <ref href="#schedule-10-paragraph-18">18</ref> are to be regarded as having come into force on 27 April 2020.</p></content></subparagraph></paragraph><paragraph eId="schedule-10-paragraph-9" class="schProv1"><num>9</num><content><p>If the winding up would by virtue of section 129(2) of the 1986 Act be deemed to commence at the time of the presentation of the petition, the winding up is instead for the purposes of that Act to be deemed to commence on the making of the winding-up order.</p></content></paragraph><paragraph eId="schedule-10-paragraph-10" class="schProv1"><num>10</num><intro><p>In section 74 of the 1986 Act (liability as contributories of present and past members), subsection (2)(a) has effect as if the reference to one year or more before the commencement of the winding up were to—</p></intro><level class="para1" eId="schedule-10-paragraph-10-a"><num>(a)</num><content><p>one year or more before the day on which the petition was presented, or</p></content></level><level class="para1" eId="schedule-10-paragraph-10-b"><num>(b)</num><content><p>if the winding-up order was made more than 6 months after the day on which the petition was presented, 18 months or more before the day on which the winding-up order was made.</p></content></level></paragraph><paragraph eId="schedule-10-paragraph-11" class="schProv1"><num>11</num><intro><p>In section 206 of the 1986 Act (fraud etc in anticipation of winding up), subsection (1) has effect as if the reference to 12 months immediately preceding the commencement of the winding up were to a period which—</p></intro><level class="para1" eId="schedule-10-paragraph-11-a"><num>(a)</num><intro><p>begins with whichever is the later of—</p></intro><level class="para2" eId="schedule-10-paragraph-11-a-i"><num>(i)</num><content><p>the day 12 months before the day on which the petition was presented, and</p></content></level><level class="para2" eId="schedule-10-paragraph-11-a-ii"><num>(ii)</num><content><p>the day 18 months before the day on which the winding-up order was made, and</p></content></level></level><level class="para1" eId="schedule-10-paragraph-11-b"><num>(b)</num><content><p>ends with the day on which the winding-up order was made.</p></content></level></paragraph><paragraph eId="schedule-10-paragraph-12" class="schProv1"><num>12</num><intro><p>In section 207 of the 1986 Act (transactions in fraud of creditors), subsection (2)(a) has effect as if the reference to conduct occurring more than 5 years before the commencement of the winding up were to conduct occurring—</p></intro><level class="para1" eId="schedule-10-paragraph-12-a"><num>(a)</num><content><p>more than 5 years before the day on which the petition was presented, or</p></content></level><level class="para1" eId="schedule-10-paragraph-12-b"><num>(b)</num><content><p>if the winding-up order was made more than 6 months after the day on which the petition was presented, more than 5 years and 6 months before the day on which the winding-up order was made.</p></content></level></paragraph><paragraph eId="schedule-10-paragraph-13" class="schProv1"><num>13</num><intro><p>In section 208 of the 1986 Act (misconduct in course of winding up), subsection (2) has effect as if the reference to 12 months immediately preceding the commencement of the winding up were to a period which—</p></intro><level class="para1" eId="schedule-10-paragraph-13-a"><num>(a)</num><intro><p>begins with whichever is the later of—</p></intro><level class="para2" eId="schedule-10-paragraph-13-a-i"><num>(i)</num><content><p>the day 12 months before the day on which the petition was presented, and</p></content></level><level class="para2" eId="schedule-10-paragraph-13-a-ii"><num>(ii)</num><content><p>the day 18 months before the day on which the winding-up order was made, and</p></content></level></level><level class="para1" eId="schedule-10-paragraph-13-b"><num>(b)</num><content><p>ends with the day on which the winding-up order was made.</p></content></level></paragraph><paragraph eId="schedule-10-paragraph-14" class="schProv1"><num>14</num><subparagraph eId="schedule-10-paragraph-14-1"><num>(1)</num><content><p>Section 214A of the 1986 Act (as inserted for the purposes of limited liability partnerships by the Limited Liability Partnership Regulations 2001 (<ref eId="c00108" href="http://www.legislation.gov.uk/id/uksi/2001/1090">S.I. 2001/1090</ref>) and the Limited Liability Partnership (Scotland) Regulations 2001 (<ref eId="c00109" href="http://www.legislation.gov.uk/id/ssi/2001/128">S.S.I. 2001/128</ref>)) has effect as follows.</p></content></subparagraph><subparagraph eId="schedule-10-paragraph-14-2"><num>(2)</num><intro><p>Subsection (2) has effect as if the reference to 2 years ending with the commencement of the winding up were to a period which—</p></intro><level class="para1" eId="schedule-10-paragraph-14-2-a"><num>(a)</num><intro><p>begins with whichever is the later of—</p></intro><level class="para2" eId="schedule-10-paragraph-14-2-a-i"><num>(i)</num><content><p>the day 2 years before the day on which the petition was presented, and</p></content></level><level class="para2" eId="schedule-10-paragraph-14-2-a-ii"><num>(ii)</num><content><p>the day 2 years and 6 months before the day on which the winding-up order was made, and</p></content></level></level><level class="para1" eId="schedule-10-paragraph-14-2-b"><num>(b)</num><content><p>ends with the day on which the winding-up order was made.</p></content></level></subparagraph></paragraph><paragraph eId="schedule-10-paragraph-15" class="schProv1"><num>15</num><subparagraph eId="schedule-10-paragraph-15-1"><num>(1)</num><content><p>Section 240 of the 1986 Act (definition of “relevant time”) has effect as follows.</p></content></subparagraph><subparagraph eId="schedule-10-paragraph-15-2"><num>(2)</num><intro><p>Subsection (1)(a) has effect as if the reference to the period of 2 years ending with the onset of insolvency were to the period which—</p></intro><level class="para1" eId="schedule-10-paragraph-15-2-a"><num>(a)</num><intro><p>begins with whichever is the later of—</p></intro><level class="para2" eId="schedule-10-paragraph-15-2-a-i"><num>(i)</num><content><p>the day 2 years before the day on which the petition was presented, and</p></content></level><level class="para2" eId="schedule-10-paragraph-15-2-a-ii"><num>(ii)</num><content><p>the day 2 years and 6 months before the day on which the winding-up order was made, and</p></content></level></level><level class="para1" eId="schedule-10-paragraph-15-2-b"><num>(b)</num><content><p>ends with the day on which the winding-up order was made.</p></content></level></subparagraph><subparagraph eId="schedule-10-paragraph-15-3"><num>(3)</num><intro><p>Subsection (1)(b) has effect as if the reference to the period of 6 months ending with the onset of insolvency were to the period which—</p></intro><level class="para1" eId="schedule-10-paragraph-15-3-a"><num>(a)</num><intro><p>begins with whichever is the later of—</p></intro><level class="para2" eId="schedule-10-paragraph-15-3-a-i"><num>(i)</num><content><p>the day 6 months before the day on which the petition was presented, and</p></content></level><level class="para2" eId="schedule-10-paragraph-15-3-a-ii"><num>(ii)</num><content><p>the day 12 months before the day on which the winding-up order was made, and</p></content></level></level><level class="para1" eId="schedule-10-paragraph-15-3-b"><num>(b)</num><content><p>ends with the day on which the winding-up order was made.</p></content></level></subparagraph></paragraph><paragraph eId="schedule-10-paragraph-16" class="schProv1"><num>16</num><subparagraph eId="schedule-10-paragraph-16-1"><num>(1)</num><content><p>Section 242 of the 1986 Act (gratuitous alienations (Scotland)) has effect as follows.</p></content></subparagraph><subparagraph eId="schedule-10-paragraph-16-2"><num>(2)</num><intro><p>Subsection (3)(a) has effect as if the reference to a day not earlier than 5 years before the date on which the winding up of the company commences were to—</p></intro><level class="para1" eId="schedule-10-paragraph-16-2-a"><num>(a)</num><content><p>a day not earlier than 5 years before the day on which the petition was presented, or</p></content></level><level class="para1" eId="schedule-10-paragraph-16-2-b"><num>(b)</num><content><p>if the winding-up order was made more than 6 months after the day on which the petition was presented, a day not more than 5 years and 6 months before the day on which the winding-up order was made.</p></content></level></subparagraph><subparagraph eId="schedule-10-paragraph-16-3"><num>(3)</num><intro><p>Subsection (3)(b) has effect as if the reference to a day not earlier than 2 years before the date on which the winding up of the company commences were to—</p></intro><level class="para1" eId="schedule-10-paragraph-16-3-a"><num>(a)</num><content><p>a day not earlier than 2 years before the day on which the petition was presented, or</p></content></level><level class="para1" eId="schedule-10-paragraph-16-3-b"><num>(b)</num><content><p>if the winding-up order was made more than 6 months after the day on which the petition was presented, a day not more than 2 years and 6 months before the day on which the winding-up order was made.</p></content></level></subparagraph></paragraph><paragraph eId="schedule-10-paragraph-17" class="schProv1"><num>17</num><intro><p>In section 243 of the 1986 Act (unfair preferences (Scotland)), subsection (1) has effect as if the reference to a preference created not earlier than 6 months before the commencement of the winding up were to a preference created—</p></intro><level class="para1" eId="schedule-10-paragraph-17-a"><num>(a)</num><content><p>not earlier than 6 months before the day on which the petition was presented, or</p></content></level><level class="para1" eId="schedule-10-paragraph-17-b"><num>(b)</num><content><p>if the winding-up order was made more than 6 months after the day on which the petition was presented, not earlier than 12 months before the day on which the winding-up order was made.</p></content></level></paragraph><paragraph eId="schedule-10-paragraph-18" class="schProv1"><num>18</num><subparagraph eId="schedule-10-paragraph-18-1"><num>(1)</num><content><p>Section 245 of the 1986 Act (avoidance of certain floating charges) has effect as follows.</p></content></subparagraph><subparagraph eId="schedule-10-paragraph-18-2"><num>(2)</num><intro><p>Subsection (3)(a) has effect as if the reference to the period of 2 years ending with the onset of insolvency were to the period which—</p></intro><level class="para1" eId="schedule-10-paragraph-18-2-a"><num>(a)</num><intro><p>begins with whichever is the later of—</p></intro><level class="para2" eId="schedule-10-paragraph-18-2-a-i"><num>(i)</num><content><p>the day 2 years before the day on which the petition was presented, and</p></content></level><level class="para2" eId="schedule-10-paragraph-18-2-a-ii"><num>(ii)</num><content><p>the day 2 years and 6 months before the day on which the winding-up order was made, and</p></content></level></level><level class="para1" eId="schedule-10-paragraph-18-2-b"><num>(b)</num><content><p>ends with the day on which the winding-up order was made.</p></content></level></subparagraph><subparagraph eId="schedule-10-paragraph-18-3"><num>(3)</num><intro><p>Subsection (3)(b) has effect as if the reference to the period of 12 months ending with the onset of insolvency were to the period which—</p></intro><level class="para1" eId="schedule-10-paragraph-18-3-a"><num>(a)</num><intro><p>begins with whichever is the later of—</p></intro><level class="para2" eId="schedule-10-paragraph-18-3-a-i"><num>(i)</num><content><p>the day 12 months before the day on which the petition was presented, and</p></content></level><level class="para2" eId="schedule-10-paragraph-18-3-a-ii"><num>(ii)</num><content><p>the day 18 months before the day on which the winding-up order was made, and</p></content></level></level><level class="para1" eId="schedule-10-paragraph-18-3-b"><num>(b)</num><content><p>ends with the day on which the winding-up order was made.</p></content></level></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Modification of Insolvency Rules and Rules of Court</heading><paragraph eId="schedule-10-paragraph-19" class="schProv1"><num>19</num><subparagraph eId="schedule-10-paragraph-19-1"><num>(1)</num><intro><p>This paragraph applies in relation to a petition which is presented in England and Wales by a creditor under section 124 of the 1986 Act—</p></intro><level class="para1" eId="schedule-10-paragraph-19-1-a"><num>(a)</num><content><p>on or after the day on which this Schedule comes into force, but</p></content></level><level class="para1" eId="schedule-10-paragraph-19-1-b"><num>(b)</num><content><p>before the end of the relevant period.</p></content></level></subparagraph><subparagraph eId="schedule-10-paragraph-19-2"><num>(2)</num><content><p>Any provision of the 2016 Insolvency Rules which requires or permits (or authorises the court to require or permit) notice, publication or advertisement of the petition does not apply until such time as the court has made a determination in relation to the question of whether it is likely that the court will be able to make an order under section 122(1)(f) or 221(5)(b) of the 1986 Act.</p></content></subparagraph><subparagraph eId="schedule-10-paragraph-19-3"><num>(3)</num><content><p>Rule 7.5(1) of the 2016 Insolvency Rules (contents of winding-up petition) has effect as if it also required the petition to contain a statement that the petitioner considers that the condition described in paragraph 2(2) or (4) or 3(2) or (4) of this Schedule (as the case may be) is met.</p></content></subparagraph><subparagraph eId="schedule-10-paragraph-19-4"><num>(4)</num><content><p>In Rule 12.39 of the 2016 Insolvency Rules (the court file), the rights referred to in paragraphs (3) to (5) of that Rule are not exercisable without the permission of the court until such time as the court has made the determination referred to in sub-paragraph <ref href="#schedule-10-paragraph-19-2">(2)</ref>.</p></content></subparagraph></paragraph><paragraph eId="schedule-10-paragraph-20" class="schProv1"><num>20</num><subparagraph eId="schedule-10-paragraph-20-1"><num>(1)</num><intro><p>This paragraph applies in relation to a petition which is presented in Scotland by a creditor under section 124 of the 1986 Act—</p></intro><level class="para1" eId="schedule-10-paragraph-20-1-a"><num>(a)</num><content><p>on or after the day on which this Schedule comes into force, but</p></content></level><level class="para1" eId="schedule-10-paragraph-20-1-b"><num>(b)</num><content><p>before the end of the relevant period.</p></content></level></subparagraph><subparagraph eId="schedule-10-paragraph-20-2"><num>(2)</num><content><p>Any provision of Rules of Court which requires or permits (or authorises the court to require or permit) notice, publication, advertisement or inspection of the petition or proceedings does not apply until such time as the court has made a determination in relation to the question of whether it is likely that the court will be able to make an order under section 122(1)(f) or 221(5)(b) of the 1986 Act.</p></content></subparagraph><subparagraph eId="schedule-10-paragraph-20-3"><num>(3)</num><content><p>The court may by order in any case disapply sub-paragraph (2), so far as relating to inspection of the petition or proceedings, to any extent.</p></content></subparagraph><subparagraph eId="schedule-10-paragraph-20-4"><num>(4)</num><content><p>Rules of Court in Scotland have effect as if they required the petition to contain an averment that the petitioner considers that the condition described in paragraph 2(2) or (4) or 3(2) or (4) of this Schedule (as the case may be) is met.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Interpretation</heading><paragraph eId="schedule-10-paragraph-21" class="schProv1"><num>21</num><subparagraph eId="schedule-10-paragraph-21-1"><num>(1)</num><intro><p>In this Part of this Schedule, “relevant period” means the period which—</p></intro><level class="para1" eId="schedule-10-paragraph-21-1-a"><num>(a)</num><content><p>begins with 27 April 2020, and</p></content></level><level class="para1" eId="schedule-10-paragraph-21-1-b"><num>(b)</num><content><p>ends with 30 September 2020.</p></content></level></subparagraph><subparagraph eId="schedule-10-paragraph-21-2"><num>(2)</num><intro><p>For the purposes of this Part of this Schedule, references to a petition presented by a creditor—</p></intro><level class="para1" eId="schedule-10-paragraph-21-2-a"><num>(a)</num><content><p>do not include a petition presented by one or more creditors together with one or more other persons, but</p></content></level><level class="para1" eId="schedule-10-paragraph-21-2-b"><num>(b)</num><content><p>subject to that, do include a petition presented by more than one creditor (in which case the condition referred to in paragraph 3(2) or (4) or 4(2) or (4) must be met in relation to each creditor presenting the petition).</p></content></level></subparagraph><subparagraph eId="schedule-10-paragraph-21-3"><num>(3)</num><intro><p>For the purposes of this Part of this Schedule—</p></intro><hcontainer name="definition"><content><p>“the 2016 Insolvency Rules” means the Insolvency (England and Wales) Rules 2016 (<ref eId="c00110" href="http://www.legislation.gov.uk/id/uksi/2016/1024">S.I. 2016/1024</ref>);</p></content></hcontainer><hcontainer name="definition"><content><p>“coronavirus” means severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2);</p></content></hcontainer><hcontainer name="definition"><content><p>coronavirus has a “financial effect” on a company if (and only if) the company’s financial position worsens in consequence of, or for reasons relating to, coronavirus;</p></content></hcontainer><hcontainer name="definition"><content><p>“interim liquidator” means a person appointed under section 138(1) of the 1986 Act.</p></content></hcontainer></subparagraph></paragraph></hcontainer></part><part eId="schedule-10-part-3"><num>PART 3</num><heading>General</heading><paragraph eId="schedule-10-paragraph-22" class="schProv1"><num>22</num><intro><p>In this Schedule—</p></intro><hcontainer name="definition"><content><p>“the 1986 Act” means the Insolvency Act 1986;</p></content></hcontainer><hcontainer name="definition"><content><p>“registered company” means a company registered under the Companies Act 2006 in England and Wales or Scotland;</p></content></hcontainer><hcontainer name="definition"><content><p>“unregistered company” has the same meaning as in Part 5 of the 1986 Act.</p></content></hcontainer></paragraph><paragraph eId="schedule-10-paragraph-23" class="schProv1"><num>23</num><subparagraph eId="schedule-10-paragraph-23-1"><num>(1)</num><content><p>The provisions of this Schedule, so far as relating to registered companies, have effect as if they were included in Part 4 of the 1986 Act.</p></content></subparagraph><subparagraph eId="schedule-10-paragraph-23-2"><num>(2)</num><content><p>Sub-paragraph <ref href="#schedule-10-paragraph-23-1">(1)</ref> does not apply in relation to paragraph <ref href="#schedule-10-paragraph-19">19</ref> or <ref href="#schedule-10-paragraph-20">20</ref> (modification of insolvency rules).</p></content></subparagraph><subparagraph eId="schedule-10-paragraph-23-3"><num>(3)</num><content><p>In the application of the provisions of this Schedule to charitable incorporated organisations (by virtue of sub-paragraph <ref href="#schedule-10-paragraph-23-1">(1)</ref> and paragraph 1 of Schedule 1 to the Charitable Incorporated Organisations (Insolvency and Dissolution) Regulations 2012 (<ref eId="c00111" href="http://www.legislation.gov.uk/id/uksi/2012/3013">S.I. 2012/3013</ref>)) references to section 122(1)(f) of the 1986 Act are to be taken as references to section 122(1)(c) of that Act (as inserted by that Schedule for the purposes of those organisations).</p></content></subparagraph></paragraph></part></hcontainer>
<part xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-10-part-1"><num>PART 1</num><heading>Prohibition of petitions on basis of statutory demands</heading><paragraph eId="schedule-10-paragraph-1" class="schProv1"><num>1</num><subparagraph eId="schedule-10-paragraph-1-1"><num>(1)</num><content><p>No petition for the winding up of a registered company may be presented under section 124 of the 1986 Act on or after 27 April 2020 on the ground specified in paragraph (a) of section 123(1) of that Act, where the demand referred to in that paragraph was served during the relevant period.</p></content></subparagraph><subparagraph eId="schedule-10-paragraph-1-2"><num>(2)</num><content><p>No petition for the winding up of an unregistered company may be presented under section 124 of the 1986 Act on the ground set out in section 222 of that Act, where the demand referred to in section 222 was served during the relevant period.</p></content></subparagraph><subparagraph eId="schedule-10-paragraph-1-3"><num>(3)</num><intro><p>In this Part of this Schedule, the “relevant period” is the period which—</p></intro><level class="para1" eId="schedule-10-paragraph-1-3-a"><num>(a)</num><content><p>begins with 1 March 2020, and</p></content></level><level class="para1" eId="schedule-10-paragraph-1-3-b"><num>(b)</num><content><p>ends with 30 September 2020.</p></content></level></subparagraph><subparagraph eId="schedule-10-paragraph-1-4"><num>(4)</num><content><p>This paragraph is to be regarded as having come into force on 27 April 2020.</p></content></subparagraph></paragraph></part>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-10-paragraph-1" class="schProv1"><num>1</num><subparagraph eId="schedule-10-paragraph-1-1"><num>(1)</num><content><p>No petition for the winding up of a registered company may be presented under section 124 of the 1986 Act on or after 27 April 2020 on the ground specified in paragraph (a) of section 123(1) of that Act, where the demand referred to in that paragraph was served during the relevant period.</p></content></subparagraph><subparagraph eId="schedule-10-paragraph-1-2"><num>(2)</num><content><p>No petition for the winding up of an unregistered company may be presented under section 124 of the 1986 Act on the ground set out in section 222 of that Act, where the demand referred to in section 222 was served during the relevant period.</p></content></subparagraph><subparagraph eId="schedule-10-paragraph-1-3"><num>(3)</num><intro><p>In this Part of this Schedule, the “relevant period” is the period which—</p></intro><level class="para1" eId="schedule-10-paragraph-1-3-a"><num>(a)</num><content><p>begins with 1 March 2020, and</p></content></level><level class="para1" eId="schedule-10-paragraph-1-3-b"><num>(b)</num><content><p>ends with 30 September 2020.</p></content></level></subparagraph><subparagraph eId="schedule-10-paragraph-1-4"><num>(4)</num><content><p>This paragraph is to be regarded as having come into force on 27 April 2020.</p></content></subparagraph></paragraph>
<part xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-10-part-2"><num>PART 2</num><heading>Restriction on winding-up petitions and orders</heading><hcontainer name="crossheading" class="schGroup7"><heading>Restriction on winding-up petitions: registered companies</heading><paragraph eId="schedule-10-paragraph-2" class="schProv1"><num>2</num><subparagraph eId="schedule-10-paragraph-2-1"><num>(1)</num><content><p>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 <ref href="#schedule-10-paragraph-2-2">(2)</ref> is met.</p></content></subparagraph><subparagraph eId="schedule-10-paragraph-2-2"><num>(2)</num><intro><p>The condition referred to in sub-paragraph <ref href="#schedule-10-paragraph-2-1">(1)</ref> is that the creditor has reasonable grounds for believing that—</p></intro><level class="para1" eId="schedule-10-paragraph-2-2-a"><num>(a)</num><content><p>coronavirus has not had a financial effect on the company, or</p></content></level><level class="para1" eId="schedule-10-paragraph-2-2-b"><num>(b)</num><content><p>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.</p></content></level></subparagraph><subparagraph eId="schedule-10-paragraph-2-3"><num>(3)</num><content><p>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 <ref href="#schedule-10-paragraph-2-4">(4)</ref> is met.</p></content></subparagraph><subparagraph eId="schedule-10-paragraph-2-4"><num>(4)</num><intro><p>The condition referred to in sub-paragraph <ref href="#schedule-10-paragraph-2-3">(3)</ref> is that the creditor has reasonable grounds for believing that—</p></intro><level class="para1" eId="schedule-10-paragraph-2-4-a"><num>(a)</num><content><p>coronavirus has not had a financial effect on the company, or</p></content></level><level class="para1" eId="schedule-10-paragraph-2-4-b"><num>(b)</num><content><p>the relevant ground would apply even if coronavirus had not had a financial effect on the company.</p></content></level></subparagraph><subparagraph eId="schedule-10-paragraph-2-5"><num>(5)</num><content><p>This paragraph is to be regarded as having come into force on 27 April 2020.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Restriction on winding-up petitions: unregistered companies</heading><paragraph eId="schedule-10-paragraph-3" class="schProv1"><num>3</num><subparagraph eId="schedule-10-paragraph-3-1"><num>(1)</num><content><p>A creditor may not during the relevant period present a petition under section 124 of the 1986 Act for the winding up of an unregistered company on a ground specified in section 222, 223 or 224(1)(a) to (c) of that Act (“the relevant ground”), unless the condition in sub-paragraph <ref href="#schedule-10-paragraph-3-2">(2)</ref> is met.</p></content></subparagraph><subparagraph eId="schedule-10-paragraph-3-2"><num>(2)</num><intro><p>The condition referred to in sub-paragraph <ref href="#schedule-10-paragraph-3-1">(1)</ref> is that the creditor has reasonable grounds for believing that—</p></intro><level class="para1" eId="schedule-10-paragraph-3-2-a"><num>(a)</num><content><p>coronavirus has not had a financial effect on the company, or</p></content></level><level class="para1" eId="schedule-10-paragraph-3-2-b"><num>(b)</num><content><p>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.</p></content></level></subparagraph><subparagraph eId="schedule-10-paragraph-3-3"><num>(3)</num><content><p>A creditor may not during the relevant period present a petition under section 124 of the 1986 Act for the winding up of an unregistered company on the ground specified in section 224(1)(d) or (2) of that Act (“the relevant ground”), unless the condition in sub-paragraph <ref href="#schedule-10-paragraph-3-4">(4)</ref> is met.</p></content></subparagraph><subparagraph eId="schedule-10-paragraph-3-4"><num>(4)</num><intro><p>The condition referred to in sub-paragraph <ref href="#schedule-10-paragraph-3-3">(3)</ref> is that the creditor has reasonable grounds for believing that—</p></intro><level class="para1" eId="schedule-10-paragraph-3-4-a"><num>(a)</num><content><p>coronavirus has not had a financial effect on the company, or</p></content></level><level class="para1" eId="schedule-10-paragraph-3-4-b"><num>(b)</num><content><p>the relevant ground would apply even if coronavirus had not had a financial effect on the company.</p></content></level></subparagraph><subparagraph eId="schedule-10-paragraph-3-5"><num>(5)</num><content><p>This paragraph is to be regarded as having come into force on 27 April 2020.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Restriction on winding-up petitions: petitions made before commencement</heading><paragraph eId="schedule-10-paragraph-4" class="schProv1"><num>4</num><subparagraph eId="schedule-10-paragraph-4-1"><num>(1)</num><intro><p>This paragraph applies where a creditor presents a petition under section 124 of the 1986 Act—</p></intro><level class="para1" eId="schedule-10-paragraph-4-1-a"><num>(a)</num><content><p>on or after 27 April 2020, but</p></content></level><level class="para1" eId="schedule-10-paragraph-4-1-b"><num>(b)</num><content><p>before the day on which this Schedule comes into force.</p></content></level></subparagraph><subparagraph eId="schedule-10-paragraph-4-2"><num>(2)</num><content><p>If the court to which the petition is presented is satisfied that the creditor presented it without the condition in paragraph <ref href="#schedule-10-paragraph-2-2">2(2)</ref> or <ref href="#schedule-10-paragraph-2-4">(4)</ref> or paragraph <ref href="#schedule-10-paragraph-3-2">3(2)</ref> or <ref href="#schedule-10-paragraph-3-4">(4)</ref> (as the case may be) being met, the court may make such order as it thinks appropriate to restore the position to what it would have been if the petition had not been presented.</p></content></subparagraph><subparagraph eId="schedule-10-paragraph-4-3"><num>(3)</num><content><p>If it appears to the official receiver or, in Scotland, the interim liquidator that the person who presented the petition did so without the condition in paragraph <ref href="#schedule-10-paragraph-2-2">2(2)</ref> or <ref href="#schedule-10-paragraph-2-4">(4)</ref> or paragraph <ref href="#schedule-10-paragraph-3-2">3(2)</ref> or <ref href="#schedule-10-paragraph-3-4">(4)</ref> (as the case may be) being met, the official receiver or interim liquidator must refer the matter to the court to determine whether to make an order under sub-paragraph <ref href="#schedule-10-paragraph-4-2">(2)</ref>.</p></content></subparagraph><subparagraph eId="schedule-10-paragraph-4-4"><num>(4)</num><content><p>For the purposes of the 2016 Insolvency Rules or Rules of Court in Scotland, a reference under sub-paragraph <ref href="#schedule-10-paragraph-4-3">(3)</ref> is to be treated as if it were an application under section 147 of the 1986 Act.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Restriction on winding-up orders: registered companies</heading><paragraph eId="schedule-10-paragraph-5" class="schProv1"><num>5</num><subparagraph eId="schedule-10-paragraph-5-1"><num>(1)</num><intro><p>This paragraph applies where—</p></intro><level class="para1" eId="schedule-10-paragraph-5-1-a"><num>(a)</num><content><p>a creditor presents a petition for the winding up of a registered company under section 124 of the 1986 Act in the relevant period,</p></content></level><level class="para1" eId="schedule-10-paragraph-5-1-b"><num>(b)</num><content><p>the company is deemed unable to pay its debts on a ground specified in section 123(1) or (2) of that Act, and</p></content></level><level class="para1" eId="schedule-10-paragraph-5-1-c"><num>(c)</num><content><p>it appears to the court that coronavirus had a financial effect on the company before the presentation of the petition.</p></content></level></subparagraph><subparagraph eId="schedule-10-paragraph-5-2"><num>(2)</num><content><p>The court may wind the company up under section 122(1)(f) of the 1986 Act on a ground specified in section 123(1)(a) to (d) of that Act only if the court is satisfied that the facts by reference to which that ground applies would have arisen even if coronavirus had not had a financial effect on the company.</p></content></subparagraph><subparagraph eId="schedule-10-paragraph-5-3"><num>(3)</num><content><p>The court may wind the company up under section 122(1)(f) of the 1986 Act on the ground specified in section 123(1)(e) or (2) of that Act only if the court is satisfied that the ground would apply even if coronavirus had not had a financial effect on the company.</p></content></subparagraph><subparagraph eId="schedule-10-paragraph-5-4"><num>(4)</num><content><p>This paragraph is to be regarded as having come into force on 27 April 2020.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Restriction on winding-up orders: unregistered companies</heading><paragraph eId="schedule-10-paragraph-6" class="schProv1"><num>6</num><subparagraph eId="schedule-10-paragraph-6-1"><num>(1)</num><intro><p>This paragraph applies where—</p></intro><level class="para1" eId="schedule-10-paragraph-6-1-a"><num>(a)</num><content><p>a creditor presents a petition for the winding up of an unregistered company under section 124 of the 1986 Act in the relevant period,</p></content></level><level class="para1" eId="schedule-10-paragraph-6-1-b"><num>(b)</num><content><p>the company is deemed unable to pay its debts on a ground specified in section 222, 223 or 224 of that Act, and</p></content></level><level class="para1" eId="schedule-10-paragraph-6-1-c"><num>(c)</num><content><p>it appears to the court that coronavirus had a financial effect on the company before the presentation of the petition.</p></content></level></subparagraph><subparagraph eId="schedule-10-paragraph-6-2"><num>(2)</num><content><p>The court may wind the company up under section 221(5)(b) of the 1986 Act on a ground specified in section 222, 223 or 224(1)(a) to (c) of that Act only if the court is satisfied that the facts by reference to which that ground applies would have arisen even if coronavirus had not had a financial effect on the company.</p></content></subparagraph><subparagraph eId="schedule-10-paragraph-6-3"><num>(3)</num><content><p>The court may wind the company up under section 221(5)(b) of the 1986 Act on the ground specified in section 224(1)(d) or (2) of that Act only if the court is satisfied that the ground would apply even if coronavirus had not had a financial effect on the company.</p></content></subparagraph><subparagraph eId="schedule-10-paragraph-6-4"><num>(4)</num><content><p>This paragraph is to be regarded as having come into force on 27 April 2020.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Restriction on winding-up orders: orders made before commencement</heading><paragraph eId="schedule-10-paragraph-7" class="schProv1"><num>7</num><subparagraph eId="schedule-10-paragraph-7-1"><num>(1)</num><intro><p>This paragraph applies where—</p></intro><level class="para1" eId="schedule-10-paragraph-7-1-a"><num>(a)</num><content><p>a court makes an order under section 122(1)(f) or 221(5)(b) of the 1986 Act on or after 27 April 2020 but before the day on which this Schedule comes into force, and</p></content></level><level class="para1" eId="schedule-10-paragraph-7-1-b"><num>(b)</num><content><p>the order was not one which the court would have made had paragraphs <ref href="#schedule-10-paragraph-5">5</ref> and <ref href="#schedule-10-paragraph-6">6</ref> been in force at the time.</p></content></level></subparagraph><subparagraph eId="schedule-10-paragraph-7-2"><num>(2)</num><content><p>The court is to be regarded as having had no power to make the order (and, accordingly, the order is to be regarded as void).</p></content></subparagraph><subparagraph eId="schedule-10-paragraph-7-3"><num>(3)</num><content><p>Neither the official receiver nor the liquidator or provisional liquidator is liable in any civil or criminal proceedings for anything done pursuant to the order.</p></content></subparagraph><subparagraph eId="schedule-10-paragraph-7-4"><num>(4)</num><content><p>The court may give such directions to the official receiver, liquidator or provisional liquidator as it thinks fit for the purpose of restoring the company to which the order relates to the position it was in immediately before the petition was presented.</p></content></subparagraph><subparagraph eId="schedule-10-paragraph-7-5"><num>(5)</num><intro><p>If at any time it appears to the official receiver or, in Scotland, the interim liquidator that—</p></intro><level class="para1" eId="schedule-10-paragraph-7-5-a"><num>(a)</num><content><p>an order made by the court under section 122(1)(f) or 221(5)(b) of the 1986 Act is void by virtue of sub-paragraph <ref href="#schedule-10-paragraph-7-2">(2)</ref>, and</p></content></level><level class="para1" eId="schedule-10-paragraph-7-5-b"><num>(b)</num><content><p>it might be appropriate for the court to give directions under sub-paragraph <ref href="#schedule-10-paragraph-7-4">(4)</ref>,</p></content></level><wrapUp><p>the official receiver or interim liquidator must refer the matter to the court to determine whether to give such directions.</p></wrapUp></subparagraph><subparagraph eId="schedule-10-paragraph-7-6"><num>(6)</num><content><p>For the purposes of the 2016 Insolvency Rules or Rules of Court in Scotland, a reference under sub-paragraph <ref href="#schedule-10-paragraph-7-5">(5)</ref> is to be treated as if it were an application under section 147 of the 1986 Act.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Modifications of 1986 Act</heading><paragraph eId="schedule-10-paragraph-8" class="schProv1"><num>8</num><subparagraph eId="schedule-10-paragraph-8-1"><num>(1)</num><intro><p>Paragraphs <ref href="#schedule-10-paragraph-9">9</ref> to <ref href="#schedule-10-paragraph-18">18</ref> apply where—</p></intro><level class="para1" eId="schedule-10-paragraph-8-1-a"><num>(a)</num><content><p>a creditor presents a petition under section 124 of the 1986 Act during the relevant period in relation to a registered or unregistered company, and</p></content></level><level class="para1" eId="schedule-10-paragraph-8-1-b"><num>(b)</num><content><p>the court to which it is presented makes an order under section 122(1)(f) or 221(5)(b) of that Act (“the winding-up order”).</p></content></level></subparagraph><subparagraph eId="schedule-10-paragraph-8-2"><num>(2)</num><content><p>Paragraphs <ref href="#schedule-10-paragraph-9">9</ref> to <ref href="#schedule-10-paragraph-18">18</ref> are to be regarded as having come into force on 27 April 2020.</p></content></subparagraph></paragraph><paragraph eId="schedule-10-paragraph-9" class="schProv1"><num>9</num><content><p>If the winding up would by virtue of section 129(2) of the 1986 Act be deemed to commence at the time of the presentation of the petition, the winding up is instead for the purposes of that Act to be deemed to commence on the making of the winding-up order.</p></content></paragraph><paragraph eId="schedule-10-paragraph-10" class="schProv1"><num>10</num><intro><p>In section 74 of the 1986 Act (liability as contributories of present and past members), subsection (2)(a) has effect as if the reference to one year or more before the commencement of the winding up were to—</p></intro><level class="para1" eId="schedule-10-paragraph-10-a"><num>(a)</num><content><p>one year or more before the day on which the petition was presented, or</p></content></level><level class="para1" eId="schedule-10-paragraph-10-b"><num>(b)</num><content><p>if the winding-up order was made more than 6 months after the day on which the petition was presented, 18 months or more before the day on which the winding-up order was made.</p></content></level></paragraph><paragraph eId="schedule-10-paragraph-11" class="schProv1"><num>11</num><intro><p>In section 206 of the 1986 Act (fraud etc in anticipation of winding up), subsection (1) has effect as if the reference to 12 months immediately preceding the commencement of the winding up were to a period which—</p></intro><level class="para1" eId="schedule-10-paragraph-11-a"><num>(a)</num><intro><p>begins with whichever is the later of—</p></intro><level class="para2" eId="schedule-10-paragraph-11-a-i"><num>(i)</num><content><p>the day 12 months before the day on which the petition was presented, and</p></content></level><level class="para2" eId="schedule-10-paragraph-11-a-ii"><num>(ii)</num><content><p>the day 18 months before the day on which the winding-up order was made, and</p></content></level></level><level class="para1" eId="schedule-10-paragraph-11-b"><num>(b)</num><content><p>ends with the day on which the winding-up order was made.</p></content></level></paragraph><paragraph eId="schedule-10-paragraph-12" class="schProv1"><num>12</num><intro><p>In section 207 of the 1986 Act (transactions in fraud of creditors), subsection (2)(a) has effect as if the reference to conduct occurring more than 5 years before the commencement of the winding up were to conduct occurring—</p></intro><level class="para1" eId="schedule-10-paragraph-12-a"><num>(a)</num><content><p>more than 5 years before the day on which the petition was presented, or</p></content></level><level class="para1" eId="schedule-10-paragraph-12-b"><num>(b)</num><content><p>if the winding-up order was made more than 6 months after the day on which the petition was presented, more than 5 years and 6 months before the day on which the winding-up order was made.</p></content></level></paragraph><paragraph eId="schedule-10-paragraph-13" class="schProv1"><num>13</num><intro><p>In section 208 of the 1986 Act (misconduct in course of winding up), subsection (2) has effect as if the reference to 12 months immediately preceding the commencement of the winding up were to a period which—</p></intro><level class="para1" eId="schedule-10-paragraph-13-a"><num>(a)</num><intro><p>begins with whichever is the later of—</p></intro><level class="para2" eId="schedule-10-paragraph-13-a-i"><num>(i)</num><content><p>the day 12 months before the day on which the petition was presented, and</p></content></level><level class="para2" eId="schedule-10-paragraph-13-a-ii"><num>(ii)</num><content><p>the day 18 months before the day on which the winding-up order was made, and</p></content></level></level><level class="para1" eId="schedule-10-paragraph-13-b"><num>(b)</num><content><p>ends with the day on which the winding-up order was made.</p></content></level></paragraph><paragraph eId="schedule-10-paragraph-14" class="schProv1"><num>14</num><subparagraph eId="schedule-10-paragraph-14-1"><num>(1)</num><content><p>Section 214A of the 1986 Act (as inserted for the purposes of limited liability partnerships by the Limited Liability Partnership Regulations 2001 (<ref eId="c00108" href="http://www.legislation.gov.uk/id/uksi/2001/1090">S.I. 2001/1090</ref>) and the Limited Liability Partnership (Scotland) Regulations 2001 (<ref eId="c00109" href="http://www.legislation.gov.uk/id/ssi/2001/128">S.S.I. 2001/128</ref>)) has effect as follows.</p></content></subparagraph><subparagraph eId="schedule-10-paragraph-14-2"><num>(2)</num><intro><p>Subsection (2) has effect as if the reference to 2 years ending with the commencement of the winding up were to a period which—</p></intro><level class="para1" eId="schedule-10-paragraph-14-2-a"><num>(a)</num><intro><p>begins with whichever is the later of—</p></intro><level class="para2" eId="schedule-10-paragraph-14-2-a-i"><num>(i)</num><content><p>the day 2 years before the day on which the petition was presented, and</p></content></level><level class="para2" eId="schedule-10-paragraph-14-2-a-ii"><num>(ii)</num><content><p>the day 2 years and 6 months before the day on which the winding-up order was made, and</p></content></level></level><level class="para1" eId="schedule-10-paragraph-14-2-b"><num>(b)</num><content><p>ends with the day on which the winding-up order was made.</p></content></level></subparagraph></paragraph><paragraph eId="schedule-10-paragraph-15" class="schProv1"><num>15</num><subparagraph eId="schedule-10-paragraph-15-1"><num>(1)</num><content><p>Section 240 of the 1986 Act (definition of “relevant time”) has effect as follows.</p></content></subparagraph><subparagraph eId="schedule-10-paragraph-15-2"><num>(2)</num><intro><p>Subsection (1)(a) has effect as if the reference to the period of 2 years ending with the onset of insolvency were to the period which—</p></intro><level class="para1" eId="schedule-10-paragraph-15-2-a"><num>(a)</num><intro><p>begins with whichever is the later of—</p></intro><level class="para2" eId="schedule-10-paragraph-15-2-a-i"><num>(i)</num><content><p>the day 2 years before the day on which the petition was presented, and</p></content></level><level class="para2" eId="schedule-10-paragraph-15-2-a-ii"><num>(ii)</num><content><p>the day 2 years and 6 months before the day on which the winding-up order was made, and</p></content></level></level><level class="para1" eId="schedule-10-paragraph-15-2-b"><num>(b)</num><content><p>ends with the day on which the winding-up order was made.</p></content></level></subparagraph><subparagraph eId="schedule-10-paragraph-15-3"><num>(3)</num><intro><p>Subsection (1)(b) has effect as if the reference to the period of 6 months ending with the onset of insolvency were to the period which—</p></intro><level class="para1" eId="schedule-10-paragraph-15-3-a"><num>(a)</num><intro><p>begins with whichever is the later of—</p></intro><level class="para2" eId="schedule-10-paragraph-15-3-a-i"><num>(i)</num><content><p>the day 6 months before the day on which the petition was presented, and</p></content></level><level class="para2" eId="schedule-10-paragraph-15-3-a-ii"><num>(ii)</num><content><p>the day 12 months before the day on which the winding-up order was made, and</p></content></level></level><level class="para1" eId="schedule-10-paragraph-15-3-b"><num>(b)</num><content><p>ends with the day on which the winding-up order was made.</p></content></level></subparagraph></paragraph><paragraph eId="schedule-10-paragraph-16" class="schProv1"><num>16</num><subparagraph eId="schedule-10-paragraph-16-1"><num>(1)</num><content><p>Section 242 of the 1986 Act (gratuitous alienations (Scotland)) has effect as follows.</p></content></subparagraph><subparagraph eId="schedule-10-paragraph-16-2"><num>(2)</num><intro><p>Subsection (3)(a) has effect as if the reference to a day not earlier than 5 years before the date on which the winding up of the company commences were to—</p></intro><level class="para1" eId="schedule-10-paragraph-16-2-a"><num>(a)</num><content><p>a day not earlier than 5 years before the day on which the petition was presented, or</p></content></level><level class="para1" eId="schedule-10-paragraph-16-2-b"><num>(b)</num><content><p>if the winding-up order was made more than 6 months after the day on which the petition was presented, a day not more than 5 years and 6 months before the day on which the winding-up order was made.</p></content></level></subparagraph><subparagraph eId="schedule-10-paragraph-16-3"><num>(3)</num><intro><p>Subsection (3)(b) has effect as if the reference to a day not earlier than 2 years before the date on which the winding up of the company commences were to—</p></intro><level class="para1" eId="schedule-10-paragraph-16-3-a"><num>(a)</num><content><p>a day not earlier than 2 years before the day on which the petition was presented, or</p></content></level><level class="para1" eId="schedule-10-paragraph-16-3-b"><num>(b)</num><content><p>if the winding-up order was made more than 6 months after the day on which the petition was presented, a day not more than 2 years and 6 months before the day on which the winding-up order was made.</p></content></level></subparagraph></paragraph><paragraph eId="schedule-10-paragraph-17" class="schProv1"><num>17</num><intro><p>In section 243 of the 1986 Act (unfair preferences (Scotland)), subsection (1) has effect as if the reference to a preference created not earlier than 6 months before the commencement of the winding up were to a preference created—</p></intro><level class="para1" eId="schedule-10-paragraph-17-a"><num>(a)</num><content><p>not earlier than 6 months before the day on which the petition was presented, or</p></content></level><level class="para1" eId="schedule-10-paragraph-17-b"><num>(b)</num><content><p>if the winding-up order was made more than 6 months after the day on which the petition was presented, not earlier than 12 months before the day on which the winding-up order was made.</p></content></level></paragraph><paragraph eId="schedule-10-paragraph-18" class="schProv1"><num>18</num><subparagraph eId="schedule-10-paragraph-18-1"><num>(1)</num><content><p>Section 245 of the 1986 Act (avoidance of certain floating charges) has effect as follows.</p></content></subparagraph><subparagraph eId="schedule-10-paragraph-18-2"><num>(2)</num><intro><p>Subsection (3)(a) has effect as if the reference to the period of 2 years ending with the onset of insolvency were to the period which—</p></intro><level class="para1" eId="schedule-10-paragraph-18-2-a"><num>(a)</num><intro><p>begins with whichever is the later of—</p></intro><level class="para2" eId="schedule-10-paragraph-18-2-a-i"><num>(i)</num><content><p>the day 2 years before the day on which the petition was presented, and</p></content></level><level class="para2" eId="schedule-10-paragraph-18-2-a-ii"><num>(ii)</num><content><p>the day 2 years and 6 months before the day on which the winding-up order was made, and</p></content></level></level><level class="para1" eId="schedule-10-paragraph-18-2-b"><num>(b)</num><content><p>ends with the day on which the winding-up order was made.</p></content></level></subparagraph><subparagraph eId="schedule-10-paragraph-18-3"><num>(3)</num><intro><p>Subsection (3)(b) has effect as if the reference to the period of 12 months ending with the onset of insolvency were to the period which—</p></intro><level class="para1" eId="schedule-10-paragraph-18-3-a"><num>(a)</num><intro><p>begins with whichever is the later of—</p></intro><level class="para2" eId="schedule-10-paragraph-18-3-a-i"><num>(i)</num><content><p>the day 12 months before the day on which the petition was presented, and</p></content></level><level class="para2" eId="schedule-10-paragraph-18-3-a-ii"><num>(ii)</num><content><p>the day 18 months before the day on which the winding-up order was made, and</p></content></level></level><level class="para1" eId="schedule-10-paragraph-18-3-b"><num>(b)</num><content><p>ends with the day on which the winding-up order was made.</p></content></level></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Modification of Insolvency Rules and Rules of Court</heading><paragraph eId="schedule-10-paragraph-19" class="schProv1"><num>19</num><subparagraph eId="schedule-10-paragraph-19-1"><num>(1)</num><intro><p>This paragraph applies in relation to a petition which is presented in England and Wales by a creditor under section 124 of the 1986 Act—</p></intro><level class="para1" eId="schedule-10-paragraph-19-1-a"><num>(a)</num><content><p>on or after the day on which this Schedule comes into force, but</p></content></level><level class="para1" eId="schedule-10-paragraph-19-1-b"><num>(b)</num><content><p>before the end of the relevant period.</p></content></level></subparagraph><subparagraph eId="schedule-10-paragraph-19-2"><num>(2)</num><content><p>Any provision of the 2016 Insolvency Rules which requires or permits (or authorises the court to require or permit) notice, publication or advertisement of the petition does not apply until such time as the court has made a determination in relation to the question of whether it is likely that the court will be able to make an order under section 122(1)(f) or 221(5)(b) of the 1986 Act.</p></content></subparagraph><subparagraph eId="schedule-10-paragraph-19-3"><num>(3)</num><content><p>Rule 7.5(1) of the 2016 Insolvency Rules (contents of winding-up petition) has effect as if it also required the petition to contain a statement that the petitioner considers that the condition described in paragraph 2(2) or (4) or 3(2) or (4) of this Schedule (as the case may be) is met.</p></content></subparagraph><subparagraph eId="schedule-10-paragraph-19-4"><num>(4)</num><content><p>In Rule 12.39 of the 2016 Insolvency Rules (the court file), the rights referred to in paragraphs (3) to (5) of that Rule are not exercisable without the permission of the court until such time as the court has made the determination referred to in sub-paragraph <ref href="#schedule-10-paragraph-19-2">(2)</ref>.</p></content></subparagraph></paragraph><paragraph eId="schedule-10-paragraph-20" class="schProv1"><num>20</num><subparagraph eId="schedule-10-paragraph-20-1"><num>(1)</num><intro><p>This paragraph applies in relation to a petition which is presented in Scotland by a creditor under section 124 of the 1986 Act—</p></intro><level class="para1" eId="schedule-10-paragraph-20-1-a"><num>(a)</num><content><p>on or after the day on which this Schedule comes into force, but</p></content></level><level class="para1" eId="schedule-10-paragraph-20-1-b"><num>(b)</num><content><p>before the end of the relevant period.</p></content></level></subparagraph><subparagraph eId="schedule-10-paragraph-20-2"><num>(2)</num><content><p>Any provision of Rules of Court which requires or permits (or authorises the court to require or permit) notice, publication, advertisement or inspection of the petition or proceedings does not apply until such time as the court has made a determination in relation to the question of whether it is likely that the court will be able to make an order under section 122(1)(f) or 221(5)(b) of the 1986 Act.</p></content></subparagraph><subparagraph eId="schedule-10-paragraph-20-3"><num>(3)</num><content><p>The court may by order in any case disapply sub-paragraph (2), so far as relating to inspection of the petition or proceedings, to any extent.</p></content></subparagraph><subparagraph eId="schedule-10-paragraph-20-4"><num>(4)</num><content><p>Rules of Court in Scotland have effect as if they required the petition to contain an averment that the petitioner considers that the condition described in paragraph 2(2) or (4) or 3(2) or (4) of this Schedule (as the case may be) is met.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Interpretation</heading><paragraph eId="schedule-10-paragraph-21" class="schProv1"><num>21</num><subparagraph eId="schedule-10-paragraph-21-1"><num>(1)</num><intro><p>In this Part of this Schedule, “relevant period” means the period which—</p></intro><level class="para1" eId="schedule-10-paragraph-21-1-a"><num>(a)</num><content><p>begins with 27 April 2020, and</p></content></level><level class="para1" eId="schedule-10-paragraph-21-1-b"><num>(b)</num><content><p>ends with 30 September 2020.</p></content></level></subparagraph><subparagraph eId="schedule-10-paragraph-21-2"><num>(2)</num><intro><p>For the purposes of this Part of this Schedule, references to a petition presented by a creditor—</p></intro><level class="para1" eId="schedule-10-paragraph-21-2-a"><num>(a)</num><content><p>do not include a petition presented by one or more creditors together with one or more other persons, but</p></content></level><level class="para1" eId="schedule-10-paragraph-21-2-b"><num>(b)</num><content><p>subject to that, do include a petition presented by more than one creditor (in which case the condition referred to in paragraph 3(2) or (4) or 4(2) or (4) must be met in relation to each creditor presenting the petition).</p></content></level></subparagraph><subparagraph eId="schedule-10-paragraph-21-3"><num>(3)</num><intro><p>For the purposes of this Part of this Schedule—</p></intro><hcontainer name="definition"><content><p>“the 2016 Insolvency Rules” means the Insolvency (England and Wales) Rules 2016 (<ref eId="c00110" href="http://www.legislation.gov.uk/id/uksi/2016/1024">S.I. 2016/1024</ref>);</p></content></hcontainer><hcontainer name="definition"><content><p>“coronavirus” means severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2);</p></content></hcontainer><hcontainer name="definition"><content><p>coronavirus has a “financial effect” on a company if (and only if) the company’s financial position worsens in consequence of, or for reasons relating to, coronavirus;</p></content></hcontainer><hcontainer name="definition"><content><p>“interim liquidator” means a person appointed under section 138(1) of the 1986 Act.</p></content></hcontainer></subparagraph></paragraph></hcontainer></part>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1"><num>(a)</num><content><p>section 13(2),</p></content></level>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-10-paragraph-19" class="schProv1"><num>19</num><subparagraph eId="schedule-10-paragraph-19-1"><num>(1)</num><intro><p>This paragraph applies in relation to a petition which is presented in England and Wales by a creditor under section 124 of the 1986 Act—</p></intro><level class="para1" eId="schedule-10-paragraph-19-1-a"><num>(a)</num><content><p>on or after the day on which this Schedule comes into force, but</p></content></level><level class="para1" eId="schedule-10-paragraph-19-1-b"><num>(b)</num><content><p>before the end of the relevant period.</p></content></level></subparagraph><subparagraph eId="schedule-10-paragraph-19-2"><num>(2)</num><content><p>Any provision of the 2016 Insolvency Rules which requires or permits (or authorises the court to require or permit) notice, publication or advertisement of the petition does not apply until such time as the court has made a determination in relation to the question of whether it is likely that the court will be able to make an order under section 122(1)(f) or 221(5)(b) of the 1986 Act.</p></content></subparagraph><subparagraph eId="schedule-10-paragraph-19-3"><num>(3)</num><content><p>Rule 7.5(1) of the 2016 Insolvency Rules (contents of winding-up petition) has effect as if it also required the petition to contain a statement that the petitioner considers that the condition described in paragraph 2(2) or (4) or 3(2) or (4) of this Schedule (as the case may be) is met.</p></content></subparagraph><subparagraph eId="schedule-10-paragraph-19-4"><num>(4)</num><content><p>In Rule 12.39 of the 2016 Insolvency Rules (the court file), the rights referred to in paragraphs (3) to (5) of that Rule are not exercisable without the permission of the court until such time as the court has made the determination referred to in sub-paragraph <ref href="#schedule-10-paragraph-19-2">(2)</ref>.</p></content></subparagraph></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-11-paragraph-4" class="schProv1"><num>4</num><subparagraph eId="schedule-11-paragraph-4-1"><num>(1)</num><intro><p>This paragraph applies where a creditor presents a petition under Article 104 of the 1989 Order—</p></intro><level class="para1" eId="schedule-11-paragraph-4-1-a"><num>(a)</num><content><p>on or after 27 April 2020, but</p></content></level><level class="para1" eId="schedule-11-paragraph-4-1-b"><num>(b)</num><content><p>before the day on which this Schedule comes into force.</p></content></level></subparagraph><subparagraph eId="schedule-11-paragraph-4-2"><num>(2)</num><content><p>If the High Court is satisfied that the creditor presented the petition without the condition in paragraph <ref href="#schedule-11-paragraph-2-2">2(2)</ref> or <ref href="#schedule-11-paragraph-2-4">(4)</ref> or paragraph <ref href="#schedule-11-paragraph-3-2">3(2)</ref> or <ref href="#schedule-11-paragraph-3-4">(4)</ref> (as the case may be) being met, the Court may make such order as it thinks appropriate to restore the position to what it would have been if the petition had not been presented.</p></content></subparagraph><subparagraph eId="schedule-11-paragraph-4-3"><num>(3)</num><content><p>If it appears to the official receiver that the person who presented the petition did so without the condition in paragraph <ref href="#schedule-11-paragraph-2-2">2(2)</ref> or <ref href="#schedule-11-paragraph-2-4">(4)</ref> or paragraph <ref href="#schedule-11-paragraph-3-2">3(2)</ref> or <ref href="#schedule-11-paragraph-3-4">(4)</ref> (as the case may be) being met, the official receiver must refer the matter to the High Court to determine whether to make an order under sub-paragraph <ref href="#schedule-11-paragraph-4-2">(2)</ref>.</p></content></subparagraph><subparagraph eId="schedule-11-paragraph-4-4"><num>(4)</num><content><p>For the purposes of the 1991 Insolvency Rules, a reference under sub-paragraph <ref href="#schedule-11-paragraph-4-3">(3)</ref> is to be treated as if it were an application under Article 125 of the 1989 Order.</p></content></subparagraph></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-11-paragraph-7" class="schProv1"><num>7</num><subparagraph eId="schedule-11-paragraph-7-1"><num>(1)</num><intro><p>This paragraph applies where—</p></intro><level class="para1" eId="schedule-11-paragraph-7-1-a"><num>(a)</num><content><p>the High Court makes an order under Article 102(f) or 185(4)(b) of the 1989 Order on or after 27 April 2020 but before the day on which this Schedule comes into force, and</p></content></level><level class="para1" eId="schedule-11-paragraph-7-1-b"><num>(b)</num><content><p>the order was not one which the Court would have made had paragraphs <ref href="#schedule-11-paragraph-5">5</ref> and <ref href="#schedule-11-paragraph-6">6</ref> been in force at the time.</p></content></level></subparagraph><subparagraph eId="schedule-11-paragraph-7-2"><num>(2)</num><content><p>The High Court is to be regarded as having had no power to make the order (and, accordingly, the order is to be regarded as void).</p></content></subparagraph><subparagraph eId="schedule-11-paragraph-7-3"><num>(3)</num><content><p>Neither the official receiver nor the liquidator or provisional liquidator is liable in any civil or criminal proceedings for anything done pursuant to the order.</p></content></subparagraph><subparagraph eId="schedule-11-paragraph-7-4"><num>(4)</num><content><p>The High Court may give such directions to the official receiver, liquidator or provisional liquidator as it thinks fit for the purpose of restoring the company to which the order relates to the position it was in immediately before the petition was presented.</p></content></subparagraph><subparagraph eId="schedule-11-paragraph-7-5"><num>(5)</num><intro><p>If at any time it appears to the official receiver that—</p></intro><level class="para1" eId="schedule-11-paragraph-7-5-a"><num>(a)</num><content><p>an order made by the High Court under Article 102(f) or 185(4)(b) of the 1989 Order is void by virtue of sub-paragraph <ref href="#schedule-11-paragraph-7-2">(2)</ref>, and</p></content></level><level class="para1" eId="schedule-11-paragraph-7-5-b"><num>(b)</num><content><p>it might be appropriate for the Court to give directions under sub-paragraph <ref href="#schedule-11-paragraph-7-4">(4)</ref>,</p></content></level><wrapUp><p>the official receiver must refer the matter to the Court to determine whether to give such directions.</p></wrapUp></subparagraph><subparagraph eId="schedule-11-paragraph-7-6"><num>(6)</num><content><p>For the purposes of the 1991 Insolvency Rules a reference under sub-paragraph <ref href="#schedule-11-paragraph-7-5">(5)</ref> is to be treated as if it were an application under Article 125 of the 1989 Order.</p></content></subparagraph></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-11-paragraph-18" class="schProv1"><num>18</num><subparagraph eId="schedule-11-paragraph-18-1"><num>(1)</num><intro><p>In this Part of this Schedule, “relevant period” means the period which—</p></intro><level class="para1" eId="schedule-11-paragraph-18-1-a"><num>(a)</num><content><p>begins with 27 April 2020, and</p></content></level><level class="para1" eId="schedule-11-paragraph-18-1-b"><num>(b)</num><content><p>ends with 30 September 2020.</p></content></level></subparagraph><subparagraph eId="schedule-11-paragraph-18-2"><num>(2)</num><intro><p>For the purposes of this Part of this Schedule, references to a petition presented by a creditor—</p></intro><level class="para1" eId="schedule-11-paragraph-18-2-a"><num>(a)</num><content><p>do not include a petition presented by one or more creditors together with one or more other persons, but</p></content></level><level class="para1" eId="schedule-11-paragraph-18-2-b"><num>(b)</num><content><p>subject to that, do include a petition presented by more than one creditor (in which case the condition referred to in paragraph 3(2) or (4) or 4(2) or (4) must be met in relation to each creditor presenting the petition).</p></content></level></subparagraph><subparagraph eId="schedule-11-paragraph-18-3"><num>(3)</num><intro><p>For the purposes of this Part of this Schedule—</p></intro><hcontainer name="definition"><content><p>“the 1991 Insolvency Rules” means the <ref eId="c00113" href="http://www.legislation.gov.uk/id/nisr/1991/364">Insolvency Rules (Northern Ireland) 1991 (S.R. (N.I.) 1991/364)</ref>;</p></content></hcontainer><hcontainer name="definition"><content><p>“coronavirus” means severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2);</p></content></hcontainer><hcontainer name="definition"><content><p>coronavirus has a “financial effect” on a company if (and only if) the company’s financial position worsens in consequence of, or for reasons relating to, coronavirus.</p></content></hcontainer></subparagraph></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-14-paragraph-2" class="schProv1"><num>2</num><subparagraph eId="schedule-14-paragraph-2-1"><num>(1)</num><intro><p>In this Schedule the “relevant period” means the period which—</p></intro><level class="para1" eId="schedule-14-paragraph-2-1-a"><num>(a)</num><content><p>begins with 26 March 2020, and</p></content></level><level class="para1" eId="schedule-14-paragraph-2-1-b"><num>(b)</num><content><p>ends with 30 September 2020.</p></content></level></subparagraph><subparagraph eId="schedule-14-paragraph-2-2"><num>(2)</num><intro><p>The appropriate national authority may by regulations substitute for the date for the time being specified in sub-paragraph (1)(b)—</p></intro><level class="para1" eId="schedule-14-paragraph-2-2-a"><num>(a)</num><content><p>an earlier date, or</p></content></level><level class="para1" eId="schedule-14-paragraph-2-2-b"><num>(b)</num><content><p>a later date that is not more than three months after the date for the time being so specified and is not later than 5 April 2021.</p></content></level></subparagraph><subparagraph eId="schedule-14-paragraph-2-3"><num>(3)</num><content><p>Regulations under sub-paragraph (2) may make consequential or transitional provision or savings.</p></content></subparagraph><subparagraph eId="schedule-14-paragraph-2-4"><num>(4)</num><intro><p>In sub-paragraph (2) “the appropriate national authority” means—</p></intro><level class="para1" eId="schedule-14-paragraph-2-4-a"><num>(a)</num><content><p>in relation to a qualifying body within paragraph 1(c), (d), (e), (g), (h), or (i), the Secretary of State,</p></content></level><level class="para1" eId="schedule-14-paragraph-2-4-b"><num>(b)</num><content><p>in relation to a qualifying body within paragraph 1(f), the Scottish Ministers, and</p></content></level><level class="para1" eId="schedule-14-paragraph-2-4-c"><num>(c)</num><content><p>in relation to a qualifying body within paragraph 1(a) or (b), the Department for the Economy in Northern Ireland.</p></content></level></subparagraph></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-14-paragraph-5" class="schProv1"><num>5</num><subparagraph eId="schedule-14-paragraph-5-1"><num>(1)</num><content><p>This paragraph applies where by reason of any provision a qualifying body is or was under a duty to hold a general meeting as its annual general meeting during a period (“the due period”) that ends during the relevant period.</p></content></subparagraph><subparagraph eId="schedule-14-paragraph-5-2"><num>(2)</num><content><p>The provision is to be read as if it imposes (and had always imposed) a duty on the qualifying body to hold a general meeting as its annual general meeting during the period that begins with the due period and ends with the relevant period (but this is subject to regulations under paragraph 6).</p></content></subparagraph><subparagraph eId="schedule-14-paragraph-5-3"><num>(3)</num><content><p>If by reason of regulations made under paragraph 2 the relevant period is a period that ends after 30 September 2020 this paragraph has effect as if the relevant period were a period that ends with 30 September 2020.</p></content></subparagraph><subparagraph eId="schedule-14-paragraph-5-4"><num>(4)</num><content><p>In this paragraph a reference to “any provision” is a reference to any provision of an enactment or of the constitution or rules of the qualifying body.</p></content></subparagraph><subparagraph eId="schedule-14-paragraph-5-5"><num>(5)</num><content><p>In the application of this paragraph in relation to a public company, the references to a duty to hold a general meeting as its annual general meeting are to be read as including a reference to a duty to hold an accounts meeting.</p></content></subparagraph></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-14-paragraph-8" class="schProv1"><num>8</num><subparagraph eId="schedule-14-paragraph-8-1"><num>(1)</num><content><p>Regulations made by the Scottish Ministers under paragraph <ref href="#schedule-14-paragraph-2-2-a">2(2)(a)</ref> of this Schedule are subject to the negative procedure (see section 28 of the Interpretation and Legislative Reform (Scotland) Act <ref eId="c00147" href="http://www.legislation.gov.uk/id/asp/2010/10">2010 (asp 10)</ref>).</p></content></subparagraph><subparagraph eId="schedule-14-paragraph-8-2"><num>(2)</num><content><p>Regulations made by the Scottish Ministers under paragraph <ref href="#schedule-14-paragraph-2-2-b">2(2)(b)</ref>, <ref href="#schedule-14-paragraph-4">4</ref> or <ref href="#schedule-14-paragraph-6">6</ref> of this Schedule must be laid before the Scottish Parliament as soon as reasonably practicable after being made.</p></content></subparagraph><subparagraph eId="schedule-14-paragraph-8-3"><num>(3)</num><content><p>Sub-paragraph <ref href="#schedule-14-paragraph-8-2">(2)</ref> does not apply if the regulations have been subject to the affirmative procedure (see section 29 of the Interpretation and Legislative Reform (Scotland) Act 2010).</p></content></subparagraph><subparagraph eId="schedule-14-paragraph-8-4"><num>(4)</num><content><p>Regulations laid before the Scottish Parliament by virtue of sub-paragraph (2) cease to have effect at the end of the period of 40 days beginning with the day on which they are made, unless during that period the regulations are approved by a resolution of the Scottish Parliament.</p></content></subparagraph><subparagraph eId="schedule-14-paragraph-8-5"><num>(5)</num><intro><p>In calculating the period of 40 days, no account is to be taken of any time during which the Scottish Parliament is—</p></intro><level class="para1" eId="schedule-14-paragraph-8-5-a"><num>(a)</num><content><p>dissolved, or</p></content></level><level class="para1" eId="schedule-14-paragraph-8-5-b"><num>(b)</num><content><p>in recess for more than 4 days.</p></content></level></subparagraph><subparagraph eId="schedule-14-paragraph-8-6"><num>(6)</num><intro><p>Where regulations cease to have effect as a result of sub-paragraph (4) that does not—</p></intro><level class="para1" eId="schedule-14-paragraph-8-6-a"><num>(a)</num><content><p>affect anything previously done under or by virtue of the regulations, or</p></content></level><level class="para1" eId="schedule-14-paragraph-8-6-b"><num>(b)</num><content><p>prevent the making of new regulations.</p></content></level></subparagraph><subparagraph eId="schedule-14-paragraph-8-7"><num>(7)</num><content><p>Section 30 of the Interpretation and Legislative Reform (Scotland) Act 2010 does not apply in relation to regulations to which sub-paragraph <ref href="#schedule-14-paragraph-8-2">(2)</ref> applies.</p></content></subparagraph></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-10-paragraph-20" class="schProv1"><num>20</num><subparagraph eId="schedule-10-paragraph-20-1"><num>(1)</num><intro><p>This paragraph applies in relation to a petition which is presented in Scotland by a creditor under section 124 of the 1986 Act—</p></intro><level class="para1" eId="schedule-10-paragraph-20-1-a"><num>(a)</num><content><p>on or after the day on which this Schedule comes into force, but</p></content></level><level class="para1" eId="schedule-10-paragraph-20-1-b"><num>(b)</num><content><p>before the end of the relevant period.</p></content></level></subparagraph><subparagraph eId="schedule-10-paragraph-20-2"><num>(2)</num><content><p>Any provision of Rules of Court which requires or permits (or authorises the court to require or permit) notice, publication, advertisement or inspection of the petition or proceedings does not apply until such time as the court has made a determination in relation to the question of whether it is likely that the court will be able to make an order under section 122(1)(f) or 221(5)(b) of the 1986 Act.</p></content></subparagraph><subparagraph eId="schedule-10-paragraph-20-3"><num>(3)</num><content><p>The court may by order in any case disapply sub-paragraph (2), so far as relating to inspection of the petition or proceedings, to any extent.</p></content></subparagraph><subparagraph eId="schedule-10-paragraph-20-4"><num>(4)</num><content><p>Rules of Court in Scotland have effect as if they required the petition to contain an averment that the petitioner considers that the condition described in paragraph 2(2) or (4) or 3(2) or (4) of this Schedule (as the case may be) is met.</p></content></subparagraph></paragraph>
<part xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-10-part-3"><num>PART 3</num><heading>General</heading><paragraph eId="schedule-10-paragraph-22" class="schProv1"><num>22</num><intro><p>In this Schedule—</p></intro><hcontainer name="definition"><content><p>“the 1986 Act” means the Insolvency Act 1986;</p></content></hcontainer><hcontainer name="definition"><content><p>“registered company” means a company registered under the Companies Act 2006 in England and Wales or Scotland;</p></content></hcontainer><hcontainer name="definition"><content><p>“unregistered company” has the same meaning as in Part 5 of the 1986 Act.</p></content></hcontainer></paragraph><paragraph eId="schedule-10-paragraph-23" class="schProv1"><num>23</num><subparagraph eId="schedule-10-paragraph-23-1"><num>(1)</num><content><p>The provisions of this Schedule, so far as relating to registered companies, have effect as if they were included in Part 4 of the 1986 Act.</p></content></subparagraph><subparagraph eId="schedule-10-paragraph-23-2"><num>(2)</num><content><p>Sub-paragraph <ref href="#schedule-10-paragraph-23-1">(1)</ref> does not apply in relation to paragraph <ref href="#schedule-10-paragraph-19">19</ref> or <ref href="#schedule-10-paragraph-20">20</ref> (modification of insolvency rules).</p></content></subparagraph><subparagraph eId="schedule-10-paragraph-23-3"><num>(3)</num><content><p>In the application of the provisions of this Schedule to charitable incorporated organisations (by virtue of sub-paragraph <ref href="#schedule-10-paragraph-23-1">(1)</ref> and paragraph 1 of Schedule 1 to the Charitable Incorporated Organisations (Insolvency and Dissolution) Regulations 2012 (<ref eId="c00111" href="http://www.legislation.gov.uk/id/uksi/2012/3013">S.I. 2012/3013</ref>)) references to section 122(1)(f) of the 1986 Act are to be taken as references to section 122(1)(c) of that Act (as inserted by that Schedule for the purposes of those organisations).</p></content></subparagraph></paragraph></part>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-10-paragraph-22" class="schProv1"><num>22</num><intro><p>In this Schedule—</p></intro><hcontainer name="definition"><content><p>“the 1986 Act” means the Insolvency Act 1986;</p></content></hcontainer><hcontainer name="definition"><content><p>“registered company” means a company registered under the Companies Act 2006 in England and Wales or Scotland;</p></content></hcontainer><hcontainer name="definition"><content><p>“unregistered company” has the same meaning as in Part 5 of the 1986 Act.</p></content></hcontainer></paragraph>
<hcontainer xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" name="definition"><intro><p>“<term refersTo="#term-corporate-insolvency-or-restructuring-procedure" eId="term-corporate-insolvency-or-restructuring-procedure">corporate insolvency or restructuring procedure</term>” means—</p></intro><level class="para1"><num>(a)</num><content><p>a moratorium under Part 1A of the Insolvency (Northern Ireland) Order 1989;</p></content></level><level class="para1"><num>(b)</num><content><p>a company voluntary arrangement under Part 2 of that Order (including a moratorium under Article 14A of that Order in a case where such a moratorium applies after the coming into force of paragraph 26 of Schedule 7);</p></content></level><level class="para1"><num>(c)</num><content><p>administration under Part 3 of that Order;</p></content></level><level class="para1"><num>(d)</num><content><p>receivership to which Part 4 of that Order applies;</p></content></level><level class="para1"><num>(e)</num><content><p>winding up under Part 5 or 6 of that Order;</p></content></level><level class="para1"><num>(f)</num><content><p>the procedure provided for by Part 26A of the Companies Act 2006;</p></content></level></hcontainer>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-13-paragraph-5" class="schProv1"><num>5</num><content><p>In the <ref eId="c00143" href="http://www.legislation.gov.uk/id/nisr/1995/225">Insolvent Partnerships Order (Northern Ireland) 1995 (S.R. (N.I.) 1995/225)</ref>, in article 4(3)(b), for “Article 197” substitute “Articles 197 to 197B”.</p></content></paragraph>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1"><num>(c)</num><content><p>paragraph 1 of Schedule 4, or</p></content></level>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-10-paragraph-23" class="schProv1"><num>23</num><subparagraph eId="schedule-10-paragraph-23-1"><num>(1)</num><content><p>The provisions of this Schedule, so far as relating to registered companies, have effect as if they were included in Part 4 of the 1986 Act.</p></content></subparagraph><subparagraph eId="schedule-10-paragraph-23-2"><num>(2)</num><content><p>Sub-paragraph <ref href="#schedule-10-paragraph-23-1">(1)</ref> does not apply in relation to paragraph <ref href="#schedule-10-paragraph-19">19</ref> or <ref href="#schedule-10-paragraph-20">20</ref> (modification of insolvency rules).</p></content></subparagraph><subparagraph eId="schedule-10-paragraph-23-3"><num>(3)</num><content><p>In the application of the provisions of this Schedule to charitable incorporated organisations (by virtue of sub-paragraph <ref href="#schedule-10-paragraph-23-1">(1)</ref> and paragraph 1 of Schedule 1 to the Charitable Incorporated Organisations (Insolvency and Dissolution) Regulations 2012 (<ref eId="c00111" href="http://www.legislation.gov.uk/id/uksi/2012/3013">S.I. 2012/3013</ref>)) references to section 122(1)(f) of the 1986 Act are to be taken as references to section 122(1)(c) of that Act (as inserted by that Schedule for the purposes of those organisations).</p></content></subparagraph></paragraph>
<hcontainer xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" name="schedule" eId="schedule-11"><num>SCHEDULE 11<authorialNote class="referenceNote"><p>Section 11</p></authorialNote></num><heading>Winding-up petitions: Northern Ireland</heading><part eId="schedule-11-part-1"><num>PART 1</num><heading>Prohibition of petitions on basis of statutory demands</heading><paragraph eId="schedule-11-paragraph-1" class="schProv1"><num>1</num><subparagraph eId="schedule-11-paragraph-1-1"><num>(1)</num><content><p>No petition for the winding up of a registered company may be presented under Article 104 of the 1989 Order on or after 27 April 2020 on the ground specified in sub-paragraph (a) of Article 103(1) of that Order, where the demand referred to in that sub-paragraph was served during the relevant period.</p></content></subparagraph><subparagraph eId="schedule-11-paragraph-1-2"><num>(2)</num><content><p>No petition for the winding up of an unregistered company may be presented under Article 104 of the 1989 Order on the ground set out in Article 186 of that Order, where the demand referred to in Article 186 was served during the relevant period.</p></content></subparagraph><subparagraph eId="schedule-11-paragraph-1-3"><num>(3)</num><intro><p>In this Part of this Schedule, the “relevant period” is the period which—</p></intro><level class="para1" eId="schedule-11-paragraph-1-3-a"><num>(a)</num><content><p>begins with 1 March 2020, and</p></content></level><level class="para1" eId="schedule-11-paragraph-1-3-b"><num>(b)</num><content><p>ends with 30 September 2020.</p></content></level></subparagraph><subparagraph eId="schedule-11-paragraph-1-4"><num>(4)</num><content><p>This paragraph is to be regarded as having come into force on 27 April 2020.</p></content></subparagraph></paragraph></part><part eId="schedule-11-part-2"><num>PART 2</num><heading>Restriction on winding-up petitions and orders</heading><hcontainer name="crossheading" class="schGroup7"><heading>Restriction on winding-up petitions: registered companies</heading><paragraph eId="schedule-11-paragraph-2" class="schProv1"><num>2</num><subparagraph eId="schedule-11-paragraph-2-1"><num>(1)</num><content><p>A creditor may not during the relevant period present a petition under Article 104 of the 1989 Order for the winding up of a registered company on a ground specified in Article 103(1)(a) to (d) of that Order (“the relevant ground”), unless the condition in sub-paragraph <ref href="#schedule-11-paragraph-2-2">(2)</ref> is met.</p></content></subparagraph><subparagraph eId="schedule-11-paragraph-2-2"><num>(2)</num><intro><p>The condition referred to in sub-paragraph <ref href="#schedule-11-paragraph-2-1">(1)</ref> is that the creditor has reasonable grounds for believing that—</p></intro><level class="para1" eId="schedule-11-paragraph-2-2-a"><num>(a)</num><content><p>coronavirus has not had a financial effect on the company, or</p></content></level><level class="para1" eId="schedule-11-paragraph-2-2-b"><num>(b)</num><content><p>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.</p></content></level></subparagraph><subparagraph eId="schedule-11-paragraph-2-3"><num>(3)</num><content><p>A creditor may not during the relevant period present a petition under Article 104 of the 1989 Order for the winding up of a registered company on the ground specified in Article 103(1)(e) or (2) of that Order (“the relevant ground”), unless the condition in sub-paragraph <ref href="#schedule-11-paragraph-2-4">(4)</ref> is met.</p></content></subparagraph><subparagraph eId="schedule-11-paragraph-2-4"><num>(4)</num><intro><p>The condition referred to in sub-paragraph <ref href="#schedule-11-paragraph-2-3">(3)</ref> is that the creditor has reasonable grounds for believing that—</p></intro><level class="para1" eId="schedule-11-paragraph-2-4-a"><num>(a)</num><content><p>coronavirus has not had a financial effect on the company, or</p></content></level><level class="para1" eId="schedule-11-paragraph-2-4-b"><num>(b)</num><content><p>the relevant ground would apply even if coronavirus had not had a financial effect on the company.</p></content></level></subparagraph><subparagraph eId="schedule-11-paragraph-2-5"><num>(5)</num><content><p>This paragraph is to be regarded as having come into force on 27 April 2020.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Restriction on winding-up petitions: unregistered companies</heading><paragraph eId="schedule-11-paragraph-3" class="schProv1"><num>3</num><subparagraph eId="schedule-11-paragraph-3-1"><num>(1)</num><content><p>A creditor may not during the relevant period present a petition under Article 104 of the 1989 Order for the winding up of an unregistered company on a ground specified in Article 186, 187 or 188(1)(a) to (c) of that Order (“the relevant ground”), unless the condition in sub-paragraph <ref href="#schedule-11-paragraph-3-2">(2)</ref> is met.</p></content></subparagraph><subparagraph eId="schedule-11-paragraph-3-2"><num>(2)</num><intro><p>The condition referred to in sub-paragraph <ref href="#schedule-11-paragraph-3-1">(1)</ref> is that the creditor has reasonable grounds for believing that—</p></intro><level class="para1" eId="schedule-11-paragraph-3-2-a"><num>(a)</num><content><p>coronavirus has not had a financial effect on the company, or</p></content></level><level class="para1" eId="schedule-11-paragraph-3-2-b"><num>(b)</num><content><p>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.</p></content></level></subparagraph><subparagraph eId="schedule-11-paragraph-3-3"><num>(3)</num><content><p>A creditor may not during the relevant period present a petition under Article 104 of the 1989 Order for the winding up of an unregistered company on the ground specified in Article 188(1)(d) or (2) of that Order (“the relevant ground”), unless the condition in sub-paragraph <ref href="#schedule-11-paragraph-3-4">(4)</ref> is met.</p></content></subparagraph><subparagraph eId="schedule-11-paragraph-3-4"><num>(4)</num><intro><p>The condition referred to in sub-paragraph <ref href="#schedule-11-paragraph-3-3">(3)</ref> is that the creditor has reasonable grounds for believing that—</p></intro><level class="para1" eId="schedule-11-paragraph-3-4-a"><num>(a)</num><content><p>coronavirus has not had a financial effect on the company, or</p></content></level><level class="para1" eId="schedule-11-paragraph-3-4-b"><num>(b)</num><content><p>the relevant ground would apply even if coronavirus had not had a financial effect on the company.</p></content></level></subparagraph><subparagraph eId="schedule-11-paragraph-3-5"><num>(5)</num><content><p>This paragraph is to be regarded as having come into force on 27 April 2020.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Restriction on winding-up petitions: petitions made before commencement</heading><paragraph eId="schedule-11-paragraph-4" class="schProv1"><num>4</num><subparagraph eId="schedule-11-paragraph-4-1"><num>(1)</num><intro><p>This paragraph applies where a creditor presents a petition under Article 104 of the 1989 Order—</p></intro><level class="para1" eId="schedule-11-paragraph-4-1-a"><num>(a)</num><content><p>on or after 27 April 2020, but</p></content></level><level class="para1" eId="schedule-11-paragraph-4-1-b"><num>(b)</num><content><p>before the day on which this Schedule comes into force.</p></content></level></subparagraph><subparagraph eId="schedule-11-paragraph-4-2"><num>(2)</num><content><p>If the High Court is satisfied that the creditor presented the petition without the condition in paragraph <ref href="#schedule-11-paragraph-2-2">2(2)</ref> or <ref href="#schedule-11-paragraph-2-4">(4)</ref> or paragraph <ref href="#schedule-11-paragraph-3-2">3(2)</ref> or <ref href="#schedule-11-paragraph-3-4">(4)</ref> (as the case may be) being met, the Court may make such order as it thinks appropriate to restore the position to what it would have been if the petition had not been presented.</p></content></subparagraph><subparagraph eId="schedule-11-paragraph-4-3"><num>(3)</num><content><p>If it appears to the official receiver that the person who presented the petition did so without the condition in paragraph <ref href="#schedule-11-paragraph-2-2">2(2)</ref> or <ref href="#schedule-11-paragraph-2-4">(4)</ref> or paragraph <ref href="#schedule-11-paragraph-3-2">3(2)</ref> or <ref href="#schedule-11-paragraph-3-4">(4)</ref> (as the case may be) being met, the official receiver must refer the matter to the High Court to determine whether to make an order under sub-paragraph <ref href="#schedule-11-paragraph-4-2">(2)</ref>.</p></content></subparagraph><subparagraph eId="schedule-11-paragraph-4-4"><num>(4)</num><content><p>For the purposes of the 1991 Insolvency Rules, a reference under sub-paragraph <ref href="#schedule-11-paragraph-4-3">(3)</ref> is to be treated as if it were an application under Article 125 of the 1989 Order.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Restriction on winding-up orders: registered companies</heading><paragraph eId="schedule-11-paragraph-5" class="schProv1"><num>5</num><subparagraph eId="schedule-11-paragraph-5-1"><num>(1)</num><intro><p>This paragraph applies where—</p></intro><level class="para1" eId="schedule-11-paragraph-5-1-a"><num>(a)</num><content><p>a creditor presents a petition for the winding up of a registered company under Article 104 of the 1989 Order in the relevant period,</p></content></level><level class="para1" eId="schedule-11-paragraph-5-1-b"><num>(b)</num><content><p>the company is deemed unable to pay its debts on a ground specified in Article 103(1) or (2) of that Order, and</p></content></level><level class="para1" eId="schedule-11-paragraph-5-1-c"><num>(c)</num><content><p>it appears to the High Court that coronavirus had a financial effect on the company before the presentation of the petition.</p></content></level></subparagraph><subparagraph eId="schedule-11-paragraph-5-2"><num>(2)</num><content><p>The High Court may wind the company up under Article 102(f) of the 1989 Order on a ground specified in Article 103(1)(a) to (d) of that Order only if the Court is satisfied that the facts by reference to which that ground applies would have arisen even if coronavirus had not had a financial effect on the company.</p></content></subparagraph><subparagraph eId="schedule-11-paragraph-5-3"><num>(3)</num><content><p>The High Court may wind the company up under Article 102(f) of the 1989 Order on the ground specified in Article 103(1)(e) or (2) of that Order only if the Court is satisfied that the ground would apply even if coronavirus had not had a financial effect on the company.</p></content></subparagraph><subparagraph eId="schedule-11-paragraph-5-4"><num>(4)</num><content><p>This paragraph is to be regarded as having come into force on 27 April 2020.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Restriction on winding-up orders: unregistered companies</heading><paragraph eId="schedule-11-paragraph-6" class="schProv1"><num>6</num><subparagraph eId="schedule-11-paragraph-6-1"><num>(1)</num><intro><p>This paragraph applies where—</p></intro><level class="para1" eId="schedule-11-paragraph-6-1-a"><num>(a)</num><content><p>a creditor presents a petition for the winding up of an unregistered company under Article 104 of the 1989 Order in the relevant period,</p></content></level><level class="para1" eId="schedule-11-paragraph-6-1-b"><num>(b)</num><content><p>the company is deemed unable to pay its debts on a ground specified in Article 186, 187 or 188 of that Order, and</p></content></level><level class="para1" eId="schedule-11-paragraph-6-1-c"><num>(c)</num><content><p>it appears to the High Court that coronavirus had a financial effect on the company before the presentation of the petition.</p></content></level></subparagraph><subparagraph eId="schedule-11-paragraph-6-2"><num>(2)</num><content><p>The High Court may wind the company up under Article 185(4)(b) of the 1989 Order on a ground specified in Article 186, 187 or 188(1)(a) to (c) of that Order only if the Court is satisfied that the facts by reference to which that ground applies would have arisen even if coronavirus had not had a financial effect on the company.</p></content></subparagraph><subparagraph eId="schedule-11-paragraph-6-3"><num>(3)</num><content><p>The High Court may wind the company up under Article 185(4)(b) of the 1989 Order on the ground specified in Article 188(1)(d) or (2) of that Order only if the Court is satisfied that the ground would apply even if coronavirus had not had a financial effect on the company.</p></content></subparagraph><subparagraph eId="schedule-11-paragraph-6-4"><num>(4)</num><content><p>This paragraph is to be regarded as having come into force on 27 April 2020.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Restriction on winding-up orders: orders made before commencement</heading><paragraph eId="schedule-11-paragraph-7" class="schProv1"><num>7</num><subparagraph eId="schedule-11-paragraph-7-1"><num>(1)</num><intro><p>This paragraph applies where—</p></intro><level class="para1" eId="schedule-11-paragraph-7-1-a"><num>(a)</num><content><p>the High Court makes an order under Article 102(f) or 185(4)(b) of the 1989 Order on or after 27 April 2020 but before the day on which this Schedule comes into force, and</p></content></level><level class="para1" eId="schedule-11-paragraph-7-1-b"><num>(b)</num><content><p>the order was not one which the Court would have made had paragraphs <ref href="#schedule-11-paragraph-5">5</ref> and <ref href="#schedule-11-paragraph-6">6</ref> been in force at the time.</p></content></level></subparagraph><subparagraph eId="schedule-11-paragraph-7-2"><num>(2)</num><content><p>The High Court is to be regarded as having had no power to make the order (and, accordingly, the order is to be regarded as void).</p></content></subparagraph><subparagraph eId="schedule-11-paragraph-7-3"><num>(3)</num><content><p>Neither the official receiver nor the liquidator or provisional liquidator is liable in any civil or criminal proceedings for anything done pursuant to the order.</p></content></subparagraph><subparagraph eId="schedule-11-paragraph-7-4"><num>(4)</num><content><p>The High Court may give such directions to the official receiver, liquidator or provisional liquidator as it thinks fit for the purpose of restoring the company to which the order relates to the position it was in immediately before the petition was presented.</p></content></subparagraph><subparagraph eId="schedule-11-paragraph-7-5"><num>(5)</num><intro><p>If at any time it appears to the official receiver that—</p></intro><level class="para1" eId="schedule-11-paragraph-7-5-a"><num>(a)</num><content><p>an order made by the High Court under Article 102(f) or 185(4)(b) of the 1989 Order is void by virtue of sub-paragraph <ref href="#schedule-11-paragraph-7-2">(2)</ref>, and</p></content></level><level class="para1" eId="schedule-11-paragraph-7-5-b"><num>(b)</num><content><p>it might be appropriate for the Court to give directions under sub-paragraph <ref href="#schedule-11-paragraph-7-4">(4)</ref>,</p></content></level><wrapUp><p>the official receiver must refer the matter to the Court to determine whether to give such directions.</p></wrapUp></subparagraph><subparagraph eId="schedule-11-paragraph-7-6"><num>(6)</num><content><p>For the purposes of the 1991 Insolvency Rules a reference under sub-paragraph <ref href="#schedule-11-paragraph-7-5">(5)</ref> is to be treated as if it were an application under Article 125 of the 1989 Order.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Modifications of 1989 Order</heading><paragraph eId="schedule-11-paragraph-8" class="schProv1"><num>8</num><subparagraph eId="schedule-11-paragraph-8-1"><num>(1)</num><intro><p>Paragraphs <ref href="#schedule-11-paragraph-9">9</ref> to <ref href="#schedule-11-paragraph-16">16</ref> apply where—</p></intro><level class="para1" eId="schedule-11-paragraph-8-1-a"><num>(a)</num><content><p>a creditor presents a petition under Article 104 of the 1989 Order during the relevant period in relation to a registered or unregistered company, and</p></content></level><level class="para1" eId="schedule-11-paragraph-8-1-b"><num>(b)</num><content><p>the High Court makes an order under Article 102(f) or 185(4)(b) of that Order (“the winding-up order”).</p></content></level></subparagraph><subparagraph eId="schedule-11-paragraph-8-2"><num>(2)</num><content><p>Paragraphs <ref href="#schedule-11-paragraph-9">9</ref> to <ref href="#schedule-11-paragraph-16">16</ref> are to be regarded as having come into force on 27 April 2020.</p></content></subparagraph></paragraph><paragraph eId="schedule-11-paragraph-9" class="schProv1"><num>9</num><content><p>If the winding up would by virtue of Article 109(2) of the 1989 Order be deemed to commence at the time of the presentation of the petition, the winding up is instead for the purposes of that Order to be deemed to commence on the making of the winding-up order.</p></content></paragraph><paragraph eId="schedule-11-paragraph-10" class="schProv1"><num>10</num><intro><p>In Article 61 of the 1989 Order (liability as contributories of present and past members), paragraph (2)(a) has effect as if the reference to one year or more before the commencement of the winding up were to—</p></intro><level class="para1" eId="schedule-11-paragraph-10-a"><num>(a)</num><content><p>one year or more before the day on which the petition was presented, or</p></content></level><level class="para1" eId="schedule-11-paragraph-10-b"><num>(b)</num><content><p>if the winding-up order was made more than 6 months after the day on which the petition was presented, 18 months or more before the day on which the winding-up order was made.</p></content></level></paragraph><paragraph eId="schedule-11-paragraph-11" class="schProv1"><num>11</num><intro><p>In Article 170 of the 1989 Order (fraud etc in anticipation of winding up), paragraph (1) has effect as if the reference to 12 months immediately preceding the commencement of the winding up were to a period which—</p></intro><level class="para1" eId="schedule-11-paragraph-11-a"><num>(a)</num><intro><p>begins with whichever is the later of—</p></intro><level class="para2" eId="schedule-11-paragraph-11-a-i"><num>(i)</num><content><p>the day 12 months before the day on which the petition was presented, and</p></content></level><level class="para2" eId="schedule-11-paragraph-11-a-ii"><num>(ii)</num><content><p>the day 18 months before the day on which the winding-up order was made, and</p></content></level></level><level class="para1" eId="schedule-11-paragraph-11-b"><num>(b)</num><content><p>ends with the day on which the winding-up order was made.</p></content></level></paragraph><paragraph eId="schedule-11-paragraph-12" class="schProv1"><num>12</num><intro><p>In Article 171 of the 1989 Order (transactions in fraud of creditors), paragraph (1)(a) has effect as if the reference to 5 years immediately preceding the commencement of the winding up were to—</p></intro><level class="para1" eId="schedule-11-paragraph-12-a"><num>(a)</num><content><p>5 years immediately preceding the day on which the petition was presented, or</p></content></level><level class="para1" eId="schedule-11-paragraph-12-b"><num>(b)</num><content><p>if the winding-up order was made more than 6 months after the day on which the petition was presented, 5 years and 6 months immediately preceding the day on which the winding-up order was made.</p></content></level></paragraph><paragraph eId="schedule-11-paragraph-13" class="schProv1"><num>13</num><intro><p>In Article 172 of the 1989 Order (misconduct in course of winding up), paragraph (2) has effect as if the reference to 12 months immediately preceding the commencement of the winding up were to a period which—</p></intro><level class="para1" eId="schedule-11-paragraph-13-a"><num>(a)</num><intro><p>begins with whichever is the later of—</p></intro><level class="para2" eId="schedule-11-paragraph-13-a-i"><num>(i)</num><content><p>the day 12 months before the day on which the petition was presented, and</p></content></level><level class="para2" eId="schedule-11-paragraph-13-a-ii"><num>(ii)</num><content><p>the day 18 months before the day on which the winding-up order was made, and</p></content></level></level><level class="para1" eId="schedule-11-paragraph-13-b"><num>(b)</num><content><p>ends with the day on which the winding-up order was made.</p></content></level></paragraph><paragraph eId="schedule-11-paragraph-14" class="schProv1"><num>14</num><subparagraph eId="schedule-11-paragraph-14-1"><num>(1)</num><content><p>Article 178A of the 1989 Order (as inserted for the purposes of limited liability partnerships by the <ref eId="c00112" href="http://www.legislation.gov.uk/id/nisr/2004/307">Limited Liability Partnership Regulations (Northern Ireland) 2004 (S.R. (N.I.) 2004/307))</ref> has effect as follows.</p></content></subparagraph><subparagraph eId="schedule-11-paragraph-14-2"><num>(2)</num><intro><p>Paragraph (2) has effect as if the reference to 2 years ending with the commencement of the winding up were to a period which—</p></intro><level class="para1" eId="schedule-11-paragraph-14-2-a"><num>(a)</num><intro><p>begins with whichever is the later of—</p></intro><level class="para2" eId="schedule-11-paragraph-14-2-a-i"><num>(i)</num><content><p>the day 2 years before the day on which the petition was presented, and</p></content></level><level class="para2" eId="schedule-11-paragraph-14-2-a-ii"><num>(ii)</num><content><p>the day 2 years and 6 months before the day on which the winding-up order was made, and</p></content></level></level><level class="para1" eId="schedule-11-paragraph-14-2-b"><num>(b)</num><content><p>ends with the day on which the winding-up order was made.</p></content></level></subparagraph></paragraph><paragraph eId="schedule-11-paragraph-15" class="schProv1"><num>15</num><subparagraph eId="schedule-11-paragraph-15-1"><num>(1)</num><content><p>Article 204 of the 1989 Order (definition of “relevant time”) has effect as follows.</p></content></subparagraph><subparagraph eId="schedule-11-paragraph-15-2"><num>(2)</num><intro><p>Paragraph (1)(a) has effect as if the reference to the period of 2 years ending with the onset of insolvency were to the period which—</p></intro><level class="para1" eId="schedule-11-paragraph-15-2-a"><num>(a)</num><intro><p>begins with whichever is the later of—</p></intro><level class="para2" eId="schedule-11-paragraph-15-2-a-i"><num>(i)</num><content><p>the day 2 years before the day on which the petition was presented, and</p></content></level><level class="para2" eId="schedule-11-paragraph-15-2-a-ii"><num>(ii)</num><content><p>the day 2 years and 6 months before the day on which the winding-up order was made, and</p></content></level></level><level class="para1" eId="schedule-11-paragraph-15-2-b"><num>(b)</num><content><p>ends with the day on which the winding-up order was made.</p></content></level></subparagraph><subparagraph eId="schedule-11-paragraph-15-3"><num>(3)</num><intro><p>Paragraph (1)(b) has effect as if the reference to the period of 6 months ending with the onset of insolvency were to the period which—</p></intro><level class="para1" eId="schedule-11-paragraph-15-3-a"><num>(a)</num><intro><p>begins with whichever is the later of—</p></intro><level class="para2" eId="schedule-11-paragraph-15-3-a-i"><num>(i)</num><content><p>the day 6 months before the day on which the petition was presented, and</p></content></level><level class="para2" eId="schedule-11-paragraph-15-3-a-ii"><num>(ii)</num><content><p>the day 12 months before the day on which the winding-up order was made, and</p></content></level></level><level class="para1" eId="schedule-11-paragraph-15-3-b"><num>(b)</num><content><p>ends with the day on which the winding-up order was made.</p></content></level></subparagraph></paragraph><paragraph eId="schedule-11-paragraph-16" class="schProv1"><num>16</num><subparagraph eId="schedule-11-paragraph-16-1"><num>(1)</num><content><p>Article 207 of the 1989 Order (avoidance of certain floating charges) has effect as follows.</p></content></subparagraph><subparagraph eId="schedule-11-paragraph-16-2"><num>(2)</num><intro><p>Paragraph (3)(a) has effect as if the reference to the period of 2 years ending with the onset of insolvency were to the period which—</p></intro><level class="para1" eId="schedule-11-paragraph-16-2-a"><num>(a)</num><intro><p>begins with whichever is the later of—</p></intro><level class="para2" eId="schedule-11-paragraph-16-2-a-i"><num>(i)</num><content><p>the day 2 years before the day on which the petition was presented, and</p></content></level><level class="para2" eId="schedule-11-paragraph-16-2-a-ii"><num>(ii)</num><content><p>the day 2 years and 6 months before the day on which the winding-up order was made, and</p></content></level></level><level class="para1" eId="schedule-11-paragraph-16-2-b"><num>(b)</num><content><p>ends with the day on which the winding-up order was made.</p></content></level></subparagraph><subparagraph eId="schedule-11-paragraph-16-3"><num>(3)</num><intro><p>Paragraph (3)(b) has effect as if the reference to the period of 12 months ending with the onset of insolvency were to the period which—</p></intro><level class="para1" eId="schedule-11-paragraph-16-3-a"><num>(a)</num><intro><p>begins with whichever is the later of—</p></intro><level class="para2" eId="schedule-11-paragraph-16-3-a-i"><num>(i)</num><content><p>the day 12 months before the day on which the petition was presented, and</p></content></level><level class="para2" eId="schedule-11-paragraph-16-3-a-ii"><num>(ii)</num><content><p>the day 18 months before the day on which the winding-up order was made, and</p></content></level></level><level class="para1" eId="schedule-11-paragraph-16-3-b"><num>(b)</num><content><p>ends with the day on which the winding-up order was made.</p></content></level></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Modification of Insolvency Rules</heading><paragraph eId="schedule-11-paragraph-17" class="schProv1"><num>17</num><subparagraph eId="schedule-11-paragraph-17-1"><num>(1)</num><intro><p>This paragraph applies in relation to a petition which is presented by a creditor under Article 104 of the 1989 Order—</p></intro><level class="para1" eId="schedule-11-paragraph-17-1-a"><num>(a)</num><content><p>on or after the day on which this Schedule comes into force, but</p></content></level><level class="para1" eId="schedule-11-paragraph-17-1-b"><num>(b)</num><content><p>before the end of the relevant period.</p></content></level></subparagraph><subparagraph eId="schedule-11-paragraph-17-2"><num>(2)</num><content><p>Any provision of the 1991 Insolvency Rules which requires or permits (or authorises the High Court to require or permit) notice, publication or advertisement of the petition does not apply until such time as the High Court has made a determination in relation to the question of whether it is likely that the Court will be able to make an order under Article 102(f) or 185(4)(b) of the 1989 Order.</p></content></subparagraph><subparagraph eId="schedule-11-paragraph-17-3"><num>(3)</num><content><p>The 1991 Insolvency Rules have effect as if they required the petition to contain a statement that the petitioner considers that the condition described in paragraph 2(2) or (4) or 3(2) or (4) of this Schedule (as the case may be) is met.</p></content></subparagraph><subparagraph eId="schedule-11-paragraph-17-4"><num>(4)</num><intro><p>The rights referred to in the following provisions of the 1991 Insolvency Rules are not exercisable without the permission of the High Court—</p></intro><level class="para1" eId="schedule-11-paragraph-17-4-a"><num>(a)</num><content><p>paragraph (1) of Rule 7.25 (right to inspect court record);</p></content></level><level class="para1" eId="schedule-11-paragraph-17-4-b"><num>(b)</num><content><p>paragraphs (1) to (3) of Rule 7.27 (right to inspect court file);</p></content></level><level class="para1" eId="schedule-11-paragraph-17-4-c"><num>(c)</num><content><p>paragraphs (1) and (2) of Rule 7.55 (right to copy of document in court file).</p></content></level></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Interpretation</heading><paragraph eId="schedule-11-paragraph-18" class="schProv1"><num>18</num><subparagraph eId="schedule-11-paragraph-18-1"><num>(1)</num><intro><p>In this Part of this Schedule, “relevant period” means the period which—</p></intro><level class="para1" eId="schedule-11-paragraph-18-1-a"><num>(a)</num><content><p>begins with 27 April 2020, and</p></content></level><level class="para1" eId="schedule-11-paragraph-18-1-b"><num>(b)</num><content><p>ends with 30 September 2020.</p></content></level></subparagraph><subparagraph eId="schedule-11-paragraph-18-2"><num>(2)</num><intro><p>For the purposes of this Part of this Schedule, references to a petition presented by a creditor—</p></intro><level class="para1" eId="schedule-11-paragraph-18-2-a"><num>(a)</num><content><p>do not include a petition presented by one or more creditors together with one or more other persons, but</p></content></level><level class="para1" eId="schedule-11-paragraph-18-2-b"><num>(b)</num><content><p>subject to that, do include a petition presented by more than one creditor (in which case the condition referred to in paragraph 3(2) or (4) or 4(2) or (4) must be met in relation to each creditor presenting the petition).</p></content></level></subparagraph><subparagraph eId="schedule-11-paragraph-18-3"><num>(3)</num><intro><p>For the purposes of this Part of this Schedule—</p></intro><hcontainer name="definition"><content><p>“the 1991 Insolvency Rules” means the <ref eId="c00113" href="http://www.legislation.gov.uk/id/nisr/1991/364">Insolvency Rules (Northern Ireland) 1991 (S.R. (N.I.) 1991/364)</ref>;</p></content></hcontainer><hcontainer name="definition"><content><p>“coronavirus” means severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2);</p></content></hcontainer><hcontainer name="definition"><content><p>coronavirus has a “financial effect” on a company if (and only if) the company’s financial position worsens in consequence of, or for reasons relating to, coronavirus.</p></content></hcontainer></subparagraph></paragraph></hcontainer></part><part eId="schedule-11-part-3"><num>PART 3</num><heading>General</heading><paragraph eId="schedule-11-paragraph-19" class="schProv1"><num>19</num><intro><p>In this Schedule—</p></intro><hcontainer name="definition"><content><p>“the 1989 Order” means the Insolvency (Northern Ireland) Order 1989 (<ref eId="c00114" href="http://www.legislation.gov.uk/id/nisi/1989/2405">S.I. 1989/2405 (N.I. 19)</ref>);</p></content></hcontainer><hcontainer name="definition"><content><p>“registered company” means a company registered under the Companies Act 2006 in Northern Ireland;</p></content></hcontainer><hcontainer name="definition"><content><p>“unregistered company” has the same meaning as in Part 6 of the 1989 Order.</p></content></hcontainer></paragraph><paragraph eId="schedule-11-paragraph-20" class="schProv1"><num>20</num><subparagraph eId="schedule-11-paragraph-20-1"><num>(1)</num><content><p>The provisions of this Schedule, so far as relating to registered companies, have effect as if they were included in Part 5 of the 1989 Order.</p></content></subparagraph><subparagraph eId="schedule-11-paragraph-20-2"><num>(2)</num><content><p>Sub-paragraph <ref href="#schedule-11-paragraph-20-1">(1)</ref> does not apply in relation to paragraph <ref href="#schedule-11-paragraph-17">17</ref> (modification of insolvency rules).</p></content></subparagraph></paragraph></part></hcontainer>
<part xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-11-part-1"><num>PART 1</num><heading>Prohibition of petitions on basis of statutory demands</heading><paragraph eId="schedule-11-paragraph-1" class="schProv1"><num>1</num><subparagraph eId="schedule-11-paragraph-1-1"><num>(1)</num><content><p>No petition for the winding up of a registered company may be presented under Article 104 of the 1989 Order on or after 27 April 2020 on the ground specified in sub-paragraph (a) of Article 103(1) of that Order, where the demand referred to in that sub-paragraph was served during the relevant period.</p></content></subparagraph><subparagraph eId="schedule-11-paragraph-1-2"><num>(2)</num><content><p>No petition for the winding up of an unregistered company may be presented under Article 104 of the 1989 Order on the ground set out in Article 186 of that Order, where the demand referred to in Article 186 was served during the relevant period.</p></content></subparagraph><subparagraph eId="schedule-11-paragraph-1-3"><num>(3)</num><intro><p>In this Part of this Schedule, the “relevant period” is the period which—</p></intro><level class="para1" eId="schedule-11-paragraph-1-3-a"><num>(a)</num><content><p>begins with 1 March 2020, and</p></content></level><level class="para1" eId="schedule-11-paragraph-1-3-b"><num>(b)</num><content><p>ends with 30 September 2020.</p></content></level></subparagraph><subparagraph eId="schedule-11-paragraph-1-4"><num>(4)</num><content><p>This paragraph is to be regarded as having come into force on 27 April 2020.</p></content></subparagraph></paragraph></part>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-11-paragraph-1" class="schProv1"><num>1</num><subparagraph eId="schedule-11-paragraph-1-1"><num>(1)</num><content><p>No petition for the winding up of a registered company may be presented under Article 104 of the 1989 Order on or after 27 April 2020 on the ground specified in sub-paragraph (a) of Article 103(1) of that Order, where the demand referred to in that sub-paragraph was served during the relevant period.</p></content></subparagraph><subparagraph eId="schedule-11-paragraph-1-2"><num>(2)</num><content><p>No petition for the winding up of an unregistered company may be presented under Article 104 of the 1989 Order on the ground set out in Article 186 of that Order, where the demand referred to in Article 186 was served during the relevant period.</p></content></subparagraph><subparagraph eId="schedule-11-paragraph-1-3"><num>(3)</num><intro><p>In this Part of this Schedule, the “relevant period” is the period which—</p></intro><level class="para1" eId="schedule-11-paragraph-1-3-a"><num>(a)</num><content><p>begins with 1 March 2020, and</p></content></level><level class="para1" eId="schedule-11-paragraph-1-3-b"><num>(b)</num><content><p>ends with 30 September 2020.</p></content></level></subparagraph><subparagraph eId="schedule-11-paragraph-1-4"><num>(4)</num><content><p>This paragraph is to be regarded as having come into force on 27 April 2020.</p></content></subparagraph></paragraph>
<part xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-11-part-2"><num>PART 2</num><heading>Restriction on winding-up petitions and orders</heading><hcontainer name="crossheading" class="schGroup7"><heading>Restriction on winding-up petitions: registered companies</heading><paragraph eId="schedule-11-paragraph-2" class="schProv1"><num>2</num><subparagraph eId="schedule-11-paragraph-2-1"><num>(1)</num><content><p>A creditor may not during the relevant period present a petition under Article 104 of the 1989 Order for the winding up of a registered company on a ground specified in Article 103(1)(a) to (d) of that Order (“the relevant ground”), unless the condition in sub-paragraph <ref href="#schedule-11-paragraph-2-2">(2)</ref> is met.</p></content></subparagraph><subparagraph eId="schedule-11-paragraph-2-2"><num>(2)</num><intro><p>The condition referred to in sub-paragraph <ref href="#schedule-11-paragraph-2-1">(1)</ref> is that the creditor has reasonable grounds for believing that—</p></intro><level class="para1" eId="schedule-11-paragraph-2-2-a"><num>(a)</num><content><p>coronavirus has not had a financial effect on the company, or</p></content></level><level class="para1" eId="schedule-11-paragraph-2-2-b"><num>(b)</num><content><p>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.</p></content></level></subparagraph><subparagraph eId="schedule-11-paragraph-2-3"><num>(3)</num><content><p>A creditor may not during the relevant period present a petition under Article 104 of the 1989 Order for the winding up of a registered company on the ground specified in Article 103(1)(e) or (2) of that Order (“the relevant ground”), unless the condition in sub-paragraph <ref href="#schedule-11-paragraph-2-4">(4)</ref> is met.</p></content></subparagraph><subparagraph eId="schedule-11-paragraph-2-4"><num>(4)</num><intro><p>The condition referred to in sub-paragraph <ref href="#schedule-11-paragraph-2-3">(3)</ref> is that the creditor has reasonable grounds for believing that—</p></intro><level class="para1" eId="schedule-11-paragraph-2-4-a"><num>(a)</num><content><p>coronavirus has not had a financial effect on the company, or</p></content></level><level class="para1" eId="schedule-11-paragraph-2-4-b"><num>(b)</num><content><p>the relevant ground would apply even if coronavirus had not had a financial effect on the company.</p></content></level></subparagraph><subparagraph eId="schedule-11-paragraph-2-5"><num>(5)</num><content><p>This paragraph is to be regarded as having come into force on 27 April 2020.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Restriction on winding-up petitions: unregistered companies</heading><paragraph eId="schedule-11-paragraph-3" class="schProv1"><num>3</num><subparagraph eId="schedule-11-paragraph-3-1"><num>(1)</num><content><p>A creditor may not during the relevant period present a petition under Article 104 of the 1989 Order for the winding up of an unregistered company on a ground specified in Article 186, 187 or 188(1)(a) to (c) of that Order (“the relevant ground”), unless the condition in sub-paragraph <ref href="#schedule-11-paragraph-3-2">(2)</ref> is met.</p></content></subparagraph><subparagraph eId="schedule-11-paragraph-3-2"><num>(2)</num><intro><p>The condition referred to in sub-paragraph <ref href="#schedule-11-paragraph-3-1">(1)</ref> is that the creditor has reasonable grounds for believing that—</p></intro><level class="para1" eId="schedule-11-paragraph-3-2-a"><num>(a)</num><content><p>coronavirus has not had a financial effect on the company, or</p></content></level><level class="para1" eId="schedule-11-paragraph-3-2-b"><num>(b)</num><content><p>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.</p></content></level></subparagraph><subparagraph eId="schedule-11-paragraph-3-3"><num>(3)</num><content><p>A creditor may not during the relevant period present a petition under Article 104 of the 1989 Order for the winding up of an unregistered company on the ground specified in Article 188(1)(d) or (2) of that Order (“the relevant ground”), unless the condition in sub-paragraph <ref href="#schedule-11-paragraph-3-4">(4)</ref> is met.</p></content></subparagraph><subparagraph eId="schedule-11-paragraph-3-4"><num>(4)</num><intro><p>The condition referred to in sub-paragraph <ref href="#schedule-11-paragraph-3-3">(3)</ref> is that the creditor has reasonable grounds for believing that—</p></intro><level class="para1" eId="schedule-11-paragraph-3-4-a"><num>(a)</num><content><p>coronavirus has not had a financial effect on the company, or</p></content></level><level class="para1" eId="schedule-11-paragraph-3-4-b"><num>(b)</num><content><p>the relevant ground would apply even if coronavirus had not had a financial effect on the company.</p></content></level></subparagraph><subparagraph eId="schedule-11-paragraph-3-5"><num>(5)</num><content><p>This paragraph is to be regarded as having come into force on 27 April 2020.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Restriction on winding-up petitions: petitions made before commencement</heading><paragraph eId="schedule-11-paragraph-4" class="schProv1"><num>4</num><subparagraph eId="schedule-11-paragraph-4-1"><num>(1)</num><intro><p>This paragraph applies where a creditor presents a petition under Article 104 of the 1989 Order—</p></intro><level class="para1" eId="schedule-11-paragraph-4-1-a"><num>(a)</num><content><p>on or after 27 April 2020, but</p></content></level><level class="para1" eId="schedule-11-paragraph-4-1-b"><num>(b)</num><content><p>before the day on which this Schedule comes into force.</p></content></level></subparagraph><subparagraph eId="schedule-11-paragraph-4-2"><num>(2)</num><content><p>If the High Court is satisfied that the creditor presented the petition without the condition in paragraph <ref href="#schedule-11-paragraph-2-2">2(2)</ref> or <ref href="#schedule-11-paragraph-2-4">(4)</ref> or paragraph <ref href="#schedule-11-paragraph-3-2">3(2)</ref> or <ref href="#schedule-11-paragraph-3-4">(4)</ref> (as the case may be) being met, the Court may make such order as it thinks appropriate to restore the position to what it would have been if the petition had not been presented.</p></content></subparagraph><subparagraph eId="schedule-11-paragraph-4-3"><num>(3)</num><content><p>If it appears to the official receiver that the person who presented the petition did so without the condition in paragraph <ref href="#schedule-11-paragraph-2-2">2(2)</ref> or <ref href="#schedule-11-paragraph-2-4">(4)</ref> or paragraph <ref href="#schedule-11-paragraph-3-2">3(2)</ref> or <ref href="#schedule-11-paragraph-3-4">(4)</ref> (as the case may be) being met, the official receiver must refer the matter to the High Court to determine whether to make an order under sub-paragraph <ref href="#schedule-11-paragraph-4-2">(2)</ref>.</p></content></subparagraph><subparagraph eId="schedule-11-paragraph-4-4"><num>(4)</num><content><p>For the purposes of the 1991 Insolvency Rules, a reference under sub-paragraph <ref href="#schedule-11-paragraph-4-3">(3)</ref> is to be treated as if it were an application under Article 125 of the 1989 Order.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Restriction on winding-up orders: registered companies</heading><paragraph eId="schedule-11-paragraph-5" class="schProv1"><num>5</num><subparagraph eId="schedule-11-paragraph-5-1"><num>(1)</num><intro><p>This paragraph applies where—</p></intro><level class="para1" eId="schedule-11-paragraph-5-1-a"><num>(a)</num><content><p>a creditor presents a petition for the winding up of a registered company under Article 104 of the 1989 Order in the relevant period,</p></content></level><level class="para1" eId="schedule-11-paragraph-5-1-b"><num>(b)</num><content><p>the company is deemed unable to pay its debts on a ground specified in Article 103(1) or (2) of that Order, and</p></content></level><level class="para1" eId="schedule-11-paragraph-5-1-c"><num>(c)</num><content><p>it appears to the High Court that coronavirus had a financial effect on the company before the presentation of the petition.</p></content></level></subparagraph><subparagraph eId="schedule-11-paragraph-5-2"><num>(2)</num><content><p>The High Court may wind the company up under Article 102(f) of the 1989 Order on a ground specified in Article 103(1)(a) to (d) of that Order only if the Court is satisfied that the facts by reference to which that ground applies would have arisen even if coronavirus had not had a financial effect on the company.</p></content></subparagraph><subparagraph eId="schedule-11-paragraph-5-3"><num>(3)</num><content><p>The High Court may wind the company up under Article 102(f) of the 1989 Order on the ground specified in Article 103(1)(e) or (2) of that Order only if the Court is satisfied that the ground would apply even if coronavirus had not had a financial effect on the company.</p></content></subparagraph><subparagraph eId="schedule-11-paragraph-5-4"><num>(4)</num><content><p>This paragraph is to be regarded as having come into force on 27 April 2020.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Restriction on winding-up orders: unregistered companies</heading><paragraph eId="schedule-11-paragraph-6" class="schProv1"><num>6</num><subparagraph eId="schedule-11-paragraph-6-1"><num>(1)</num><intro><p>This paragraph applies where—</p></intro><level class="para1" eId="schedule-11-paragraph-6-1-a"><num>(a)</num><content><p>a creditor presents a petition for the winding up of an unregistered company under Article 104 of the 1989 Order in the relevant period,</p></content></level><level class="para1" eId="schedule-11-paragraph-6-1-b"><num>(b)</num><content><p>the company is deemed unable to pay its debts on a ground specified in Article 186, 187 or 188 of that Order, and</p></content></level><level class="para1" eId="schedule-11-paragraph-6-1-c"><num>(c)</num><content><p>it appears to the High Court that coronavirus had a financial effect on the company before the presentation of the petition.</p></content></level></subparagraph><subparagraph eId="schedule-11-paragraph-6-2"><num>(2)</num><content><p>The High Court may wind the company up under Article 185(4)(b) of the 1989 Order on a ground specified in Article 186, 187 or 188(1)(a) to (c) of that Order only if the Court is satisfied that the facts by reference to which that ground applies would have arisen even if coronavirus had not had a financial effect on the company.</p></content></subparagraph><subparagraph eId="schedule-11-paragraph-6-3"><num>(3)</num><content><p>The High Court may wind the company up under Article 185(4)(b) of the 1989 Order on the ground specified in Article 188(1)(d) or (2) of that Order only if the Court is satisfied that the ground would apply even if coronavirus had not had a financial effect on the company.</p></content></subparagraph><subparagraph eId="schedule-11-paragraph-6-4"><num>(4)</num><content><p>This paragraph is to be regarded as having come into force on 27 April 2020.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Restriction on winding-up orders: orders made before commencement</heading><paragraph eId="schedule-11-paragraph-7" class="schProv1"><num>7</num><subparagraph eId="schedule-11-paragraph-7-1"><num>(1)</num><intro><p>This paragraph applies where—</p></intro><level class="para1" eId="schedule-11-paragraph-7-1-a"><num>(a)</num><content><p>the High Court makes an order under Article 102(f) or 185(4)(b) of the 1989 Order on or after 27 April 2020 but before the day on which this Schedule comes into force, and</p></content></level><level class="para1" eId="schedule-11-paragraph-7-1-b"><num>(b)</num><content><p>the order was not one which the Court would have made had paragraphs <ref href="#schedule-11-paragraph-5">5</ref> and <ref href="#schedule-11-paragraph-6">6</ref> been in force at the time.</p></content></level></subparagraph><subparagraph eId="schedule-11-paragraph-7-2"><num>(2)</num><content><p>The High Court is to be regarded as having had no power to make the order (and, accordingly, the order is to be regarded as void).</p></content></subparagraph><subparagraph eId="schedule-11-paragraph-7-3"><num>(3)</num><content><p>Neither the official receiver nor the liquidator or provisional liquidator is liable in any civil or criminal proceedings for anything done pursuant to the order.</p></content></subparagraph><subparagraph eId="schedule-11-paragraph-7-4"><num>(4)</num><content><p>The High Court may give such directions to the official receiver, liquidator or provisional liquidator as it thinks fit for the purpose of restoring the company to which the order relates to the position it was in immediately before the petition was presented.</p></content></subparagraph><subparagraph eId="schedule-11-paragraph-7-5"><num>(5)</num><intro><p>If at any time it appears to the official receiver that—</p></intro><level class="para1" eId="schedule-11-paragraph-7-5-a"><num>(a)</num><content><p>an order made by the High Court under Article 102(f) or 185(4)(b) of the 1989 Order is void by virtue of sub-paragraph <ref href="#schedule-11-paragraph-7-2">(2)</ref>, and</p></content></level><level class="para1" eId="schedule-11-paragraph-7-5-b"><num>(b)</num><content><p>it might be appropriate for the Court to give directions under sub-paragraph <ref href="#schedule-11-paragraph-7-4">(4)</ref>,</p></content></level><wrapUp><p>the official receiver must refer the matter to the Court to determine whether to give such directions.</p></wrapUp></subparagraph><subparagraph eId="schedule-11-paragraph-7-6"><num>(6)</num><content><p>For the purposes of the 1991 Insolvency Rules a reference under sub-paragraph <ref href="#schedule-11-paragraph-7-5">(5)</ref> is to be treated as if it were an application under Article 125 of the 1989 Order.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Modifications of 1989 Order</heading><paragraph eId="schedule-11-paragraph-8" class="schProv1"><num>8</num><subparagraph eId="schedule-11-paragraph-8-1"><num>(1)</num><intro><p>Paragraphs <ref href="#schedule-11-paragraph-9">9</ref> to <ref href="#schedule-11-paragraph-16">16</ref> apply where—</p></intro><level class="para1" eId="schedule-11-paragraph-8-1-a"><num>(a)</num><content><p>a creditor presents a petition under Article 104 of the 1989 Order during the relevant period in relation to a registered or unregistered company, and</p></content></level><level class="para1" eId="schedule-11-paragraph-8-1-b"><num>(b)</num><content><p>the High Court makes an order under Article 102(f) or 185(4)(b) of that Order (“the winding-up order”).</p></content></level></subparagraph><subparagraph eId="schedule-11-paragraph-8-2"><num>(2)</num><content><p>Paragraphs <ref href="#schedule-11-paragraph-9">9</ref> to <ref href="#schedule-11-paragraph-16">16</ref> are to be regarded as having come into force on 27 April 2020.</p></content></subparagraph></paragraph><paragraph eId="schedule-11-paragraph-9" class="schProv1"><num>9</num><content><p>If the winding up would by virtue of Article 109(2) of the 1989 Order be deemed to commence at the time of the presentation of the petition, the winding up is instead for the purposes of that Order to be deemed to commence on the making of the winding-up order.</p></content></paragraph><paragraph eId="schedule-11-paragraph-10" class="schProv1"><num>10</num><intro><p>In Article 61 of the 1989 Order (liability as contributories of present and past members), paragraph (2)(a) has effect as if the reference to one year or more before the commencement of the winding up were to—</p></intro><level class="para1" eId="schedule-11-paragraph-10-a"><num>(a)</num><content><p>one year or more before the day on which the petition was presented, or</p></content></level><level class="para1" eId="schedule-11-paragraph-10-b"><num>(b)</num><content><p>if the winding-up order was made more than 6 months after the day on which the petition was presented, 18 months or more before the day on which the winding-up order was made.</p></content></level></paragraph><paragraph eId="schedule-11-paragraph-11" class="schProv1"><num>11</num><intro><p>In Article 170 of the 1989 Order (fraud etc in anticipation of winding up), paragraph (1) has effect as if the reference to 12 months immediately preceding the commencement of the winding up were to a period which—</p></intro><level class="para1" eId="schedule-11-paragraph-11-a"><num>(a)</num><intro><p>begins with whichever is the later of—</p></intro><level class="para2" eId="schedule-11-paragraph-11-a-i"><num>(i)</num><content><p>the day 12 months before the day on which the petition was presented, and</p></content></level><level class="para2" eId="schedule-11-paragraph-11-a-ii"><num>(ii)</num><content><p>the day 18 months before the day on which the winding-up order was made, and</p></content></level></level><level class="para1" eId="schedule-11-paragraph-11-b"><num>(b)</num><content><p>ends with the day on which the winding-up order was made.</p></content></level></paragraph><paragraph eId="schedule-11-paragraph-12" class="schProv1"><num>12</num><intro><p>In Article 171 of the 1989 Order (transactions in fraud of creditors), paragraph (1)(a) has effect as if the reference to 5 years immediately preceding the commencement of the winding up were to—</p></intro><level class="para1" eId="schedule-11-paragraph-12-a"><num>(a)</num><content><p>5 years immediately preceding the day on which the petition was presented, or</p></content></level><level class="para1" eId="schedule-11-paragraph-12-b"><num>(b)</num><content><p>if the winding-up order was made more than 6 months after the day on which the petition was presented, 5 years and 6 months immediately preceding the day on which the winding-up order was made.</p></content></level></paragraph><paragraph eId="schedule-11-paragraph-13" class="schProv1"><num>13</num><intro><p>In Article 172 of the 1989 Order (misconduct in course of winding up), paragraph (2) has effect as if the reference to 12 months immediately preceding the commencement of the winding up were to a period which—</p></intro><level class="para1" eId="schedule-11-paragraph-13-a"><num>(a)</num><intro><p>begins with whichever is the later of—</p></intro><level class="para2" eId="schedule-11-paragraph-13-a-i"><num>(i)</num><content><p>the day 12 months before the day on which the petition was presented, and</p></content></level><level class="para2" eId="schedule-11-paragraph-13-a-ii"><num>(ii)</num><content><p>the day 18 months before the day on which the winding-up order was made, and</p></content></level></level><level class="para1" eId="schedule-11-paragraph-13-b"><num>(b)</num><content><p>ends with the day on which the winding-up order was made.</p></content></level></paragraph><paragraph eId="schedule-11-paragraph-14" class="schProv1"><num>14</num><subparagraph eId="schedule-11-paragraph-14-1"><num>(1)</num><content><p>Article 178A of the 1989 Order (as inserted for the purposes of limited liability partnerships by the <ref eId="c00112" href="http://www.legislation.gov.uk/id/nisr/2004/307">Limited Liability Partnership Regulations (Northern Ireland) 2004 (S.R. (N.I.) 2004/307))</ref> has effect as follows.</p></content></subparagraph><subparagraph eId="schedule-11-paragraph-14-2"><num>(2)</num><intro><p>Paragraph (2) has effect as if the reference to 2 years ending with the commencement of the winding up were to a period which—</p></intro><level class="para1" eId="schedule-11-paragraph-14-2-a"><num>(a)</num><intro><p>begins with whichever is the later of—</p></intro><level class="para2" eId="schedule-11-paragraph-14-2-a-i"><num>(i)</num><content><p>the day 2 years before the day on which the petition was presented, and</p></content></level><level class="para2" eId="schedule-11-paragraph-14-2-a-ii"><num>(ii)</num><content><p>the day 2 years and 6 months before the day on which the winding-up order was made, and</p></content></level></level><level class="para1" eId="schedule-11-paragraph-14-2-b"><num>(b)</num><content><p>ends with the day on which the winding-up order was made.</p></content></level></subparagraph></paragraph><paragraph eId="schedule-11-paragraph-15" class="schProv1"><num>15</num><subparagraph eId="schedule-11-paragraph-15-1"><num>(1)</num><content><p>Article 204 of the 1989 Order (definition of “relevant time”) has effect as follows.</p></content></subparagraph><subparagraph eId="schedule-11-paragraph-15-2"><num>(2)</num><intro><p>Paragraph (1)(a) has effect as if the reference to the period of 2 years ending with the onset of insolvency were to the period which—</p></intro><level class="para1" eId="schedule-11-paragraph-15-2-a"><num>(a)</num><intro><p>begins with whichever is the later of—</p></intro><level class="para2" eId="schedule-11-paragraph-15-2-a-i"><num>(i)</num><content><p>the day 2 years before the day on which the petition was presented, and</p></content></level><level class="para2" eId="schedule-11-paragraph-15-2-a-ii"><num>(ii)</num><content><p>the day 2 years and 6 months before the day on which the winding-up order was made, and</p></content></level></level><level class="para1" eId="schedule-11-paragraph-15-2-b"><num>(b)</num><content><p>ends with the day on which the winding-up order was made.</p></content></level></subparagraph><subparagraph eId="schedule-11-paragraph-15-3"><num>(3)</num><intro><p>Paragraph (1)(b) has effect as if the reference to the period of 6 months ending with the onset of insolvency were to the period which—</p></intro><level class="para1" eId="schedule-11-paragraph-15-3-a"><num>(a)</num><intro><p>begins with whichever is the later of—</p></intro><level class="para2" eId="schedule-11-paragraph-15-3-a-i"><num>(i)</num><content><p>the day 6 months before the day on which the petition was presented, and</p></content></level><level class="para2" eId="schedule-11-paragraph-15-3-a-ii"><num>(ii)</num><content><p>the day 12 months before the day on which the winding-up order was made, and</p></content></level></level><level class="para1" eId="schedule-11-paragraph-15-3-b"><num>(b)</num><content><p>ends with the day on which the winding-up order was made.</p></content></level></subparagraph></paragraph><paragraph eId="schedule-11-paragraph-16" class="schProv1"><num>16</num><subparagraph eId="schedule-11-paragraph-16-1"><num>(1)</num><content><p>Article 207 of the 1989 Order (avoidance of certain floating charges) has effect as follows.</p></content></subparagraph><subparagraph eId="schedule-11-paragraph-16-2"><num>(2)</num><intro><p>Paragraph (3)(a) has effect as if the reference to the period of 2 years ending with the onset of insolvency were to the period which—</p></intro><level class="para1" eId="schedule-11-paragraph-16-2-a"><num>(a)</num><intro><p>begins with whichever is the later of—</p></intro><level class="para2" eId="schedule-11-paragraph-16-2-a-i"><num>(i)</num><content><p>the day 2 years before the day on which the petition was presented, and</p></content></level><level class="para2" eId="schedule-11-paragraph-16-2-a-ii"><num>(ii)</num><content><p>the day 2 years and 6 months before the day on which the winding-up order was made, and</p></content></level></level><level class="para1" eId="schedule-11-paragraph-16-2-b"><num>(b)</num><content><p>ends with the day on which the winding-up order was made.</p></content></level></subparagraph><subparagraph eId="schedule-11-paragraph-16-3"><num>(3)</num><intro><p>Paragraph (3)(b) has effect as if the reference to the period of 12 months ending with the onset of insolvency were to the period which—</p></intro><level class="para1" eId="schedule-11-paragraph-16-3-a"><num>(a)</num><intro><p>begins with whichever is the later of—</p></intro><level class="para2" eId="schedule-11-paragraph-16-3-a-i"><num>(i)</num><content><p>the day 12 months before the day on which the petition was presented, and</p></content></level><level class="para2" eId="schedule-11-paragraph-16-3-a-ii"><num>(ii)</num><content><p>the day 18 months before the day on which the winding-up order was made, and</p></content></level></level><level class="para1" eId="schedule-11-paragraph-16-3-b"><num>(b)</num><content><p>ends with the day on which the winding-up order was made.</p></content></level></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Modification of Insolvency Rules</heading><paragraph eId="schedule-11-paragraph-17" class="schProv1"><num>17</num><subparagraph eId="schedule-11-paragraph-17-1"><num>(1)</num><intro><p>This paragraph applies in relation to a petition which is presented by a creditor under Article 104 of the 1989 Order—</p></intro><level class="para1" eId="schedule-11-paragraph-17-1-a"><num>(a)</num><content><p>on or after the day on which this Schedule comes into force, but</p></content></level><level class="para1" eId="schedule-11-paragraph-17-1-b"><num>(b)</num><content><p>before the end of the relevant period.</p></content></level></subparagraph><subparagraph eId="schedule-11-paragraph-17-2"><num>(2)</num><content><p>Any provision of the 1991 Insolvency Rules which requires or permits (or authorises the High Court to require or permit) notice, publication or advertisement of the petition does not apply until such time as the High Court has made a determination in relation to the question of whether it is likely that the Court will be able to make an order under Article 102(f) or 185(4)(b) of the 1989 Order.</p></content></subparagraph><subparagraph eId="schedule-11-paragraph-17-3"><num>(3)</num><content><p>The 1991 Insolvency Rules have effect as if they required the petition to contain a statement that the petitioner considers that the condition described in paragraph 2(2) or (4) or 3(2) or (4) of this Schedule (as the case may be) is met.</p></content></subparagraph><subparagraph eId="schedule-11-paragraph-17-4"><num>(4)</num><intro><p>The rights referred to in the following provisions of the 1991 Insolvency Rules are not exercisable without the permission of the High Court—</p></intro><level class="para1" eId="schedule-11-paragraph-17-4-a"><num>(a)</num><content><p>paragraph (1) of Rule 7.25 (right to inspect court record);</p></content></level><level class="para1" eId="schedule-11-paragraph-17-4-b"><num>(b)</num><content><p>paragraphs (1) to (3) of Rule 7.27 (right to inspect court file);</p></content></level><level class="para1" eId="schedule-11-paragraph-17-4-c"><num>(c)</num><content><p>paragraphs (1) and (2) of Rule 7.55 (right to copy of document in court file).</p></content></level></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Interpretation</heading><paragraph eId="schedule-11-paragraph-18" class="schProv1"><num>18</num><subparagraph eId="schedule-11-paragraph-18-1"><num>(1)</num><intro><p>In this Part of this Schedule, “relevant period” means the period which—</p></intro><level class="para1" eId="schedule-11-paragraph-18-1-a"><num>(a)</num><content><p>begins with 27 April 2020, and</p></content></level><level class="para1" eId="schedule-11-paragraph-18-1-b"><num>(b)</num><content><p>ends with 30 September 2020.</p></content></level></subparagraph><subparagraph eId="schedule-11-paragraph-18-2"><num>(2)</num><intro><p>For the purposes of this Part of this Schedule, references to a petition presented by a creditor—</p></intro><level class="para1" eId="schedule-11-paragraph-18-2-a"><num>(a)</num><content><p>do not include a petition presented by one or more creditors together with one or more other persons, but</p></content></level><level class="para1" eId="schedule-11-paragraph-18-2-b"><num>(b)</num><content><p>subject to that, do include a petition presented by more than one creditor (in which case the condition referred to in paragraph 3(2) or (4) or 4(2) or (4) must be met in relation to each creditor presenting the petition).</p></content></level></subparagraph><subparagraph eId="schedule-11-paragraph-18-3"><num>(3)</num><intro><p>For the purposes of this Part of this Schedule—</p></intro><hcontainer name="definition"><content><p>“the 1991 Insolvency Rules” means the <ref eId="c00113" href="http://www.legislation.gov.uk/id/nisr/1991/364">Insolvency Rules (Northern Ireland) 1991 (S.R. (N.I.) 1991/364)</ref>;</p></content></hcontainer><hcontainer name="definition"><content><p>“coronavirus” means severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2);</p></content></hcontainer><hcontainer name="definition"><content><p>coronavirus has a “financial effect” on a company if (and only if) the company’s financial position worsens in consequence of, or for reasons relating to, coronavirus.</p></content></hcontainer></subparagraph></paragraph></hcontainer></part>
<part xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-11-part-3"><num>PART 3</num><heading>General</heading><paragraph eId="schedule-11-paragraph-19" class="schProv1"><num>19</num><intro><p>In this Schedule—</p></intro><hcontainer name="definition"><content><p>“the 1989 Order” means the Insolvency (Northern Ireland) Order 1989 (<ref eId="c00114" href="http://www.legislation.gov.uk/id/nisi/1989/2405">S.I. 1989/2405 (N.I. 19)</ref>);</p></content></hcontainer><hcontainer name="definition"><content><p>“registered company” means a company registered under the Companies Act 2006 in Northern Ireland;</p></content></hcontainer><hcontainer name="definition"><content><p>“unregistered company” has the same meaning as in Part 6 of the 1989 Order.</p></content></hcontainer></paragraph><paragraph eId="schedule-11-paragraph-20" class="schProv1"><num>20</num><subparagraph eId="schedule-11-paragraph-20-1"><num>(1)</num><content><p>The provisions of this Schedule, so far as relating to registered companies, have effect as if they were included in Part 5 of the 1989 Order.</p></content></subparagraph><subparagraph eId="schedule-11-paragraph-20-2"><num>(2)</num><content><p>Sub-paragraph <ref href="#schedule-11-paragraph-20-1">(1)</ref> does not apply in relation to paragraph <ref href="#schedule-11-paragraph-17">17</ref> (modification of insolvency rules).</p></content></subparagraph></paragraph></part>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-11-paragraph-19" class="schProv1"><num>19</num><intro><p>In this Schedule—</p></intro><hcontainer name="definition"><content><p>“the 1989 Order” means the Insolvency (Northern Ireland) Order 1989 (<ref eId="c00114" href="http://www.legislation.gov.uk/id/nisi/1989/2405">S.I. 1989/2405 (N.I. 19)</ref>);</p></content></hcontainer><hcontainer name="definition"><content><p>“registered company” means a company registered under the Companies Act 2006 in Northern Ireland;</p></content></hcontainer><hcontainer name="definition"><content><p>“unregistered company” has the same meaning as in Part 6 of the 1989 Order.</p></content></hcontainer></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-11-paragraph-20" class="schProv1"><num>20</num><subparagraph eId="schedule-11-paragraph-20-1"><num>(1)</num><content><p>The provisions of this Schedule, so far as relating to registered companies, have effect as if they were included in Part 5 of the 1989 Order.</p></content></subparagraph><subparagraph eId="schedule-11-paragraph-20-2"><num>(2)</num><content><p>Sub-paragraph <ref href="#schedule-11-paragraph-20-1">(1)</ref> does not apply in relation to paragraph <ref href="#schedule-11-paragraph-17">17</ref> (modification of insolvency rules).</p></content></subparagraph></paragraph>
<hcontainer xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" name="schedule" eId="schedule-12"><num>SCHEDULE 12<authorialNote class="referenceNote"><p>Section 14</p></authorialNote></num><heading>Protection of supplies of goods and services: Great Britain</heading><part eId="schedule-12-part-1"><num>PART 1</num><heading>Exclusions</heading><paragraph eId="schedule-12-paragraph-1" class="schProv1"><num>1</num><content><p><mod>In the Insolvency Act 1986, after Schedule 4 insert—<quotedStructure startQuote="“" endQuote="”" uk:context="schedule" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="schedule" ukl:Format="double"><hcontainer name="schedule"><num>SCHEDULE 4ZZA<authorialNote class="referenceNote"><p>Section 233B</p></authorialNote></num><heading>Protection of supplies under section 233B: exclusions</heading><part><num>PART 1</num><heading>Essential supplies</heading><hcontainer name="crossheading" class="schGroup7"><heading>Essential supplies</heading><paragraph class="schProv1"><num>1</num><subparagraph><num>(1)</num><intro><p>Section 233B(3) and (4) do not apply in relation to provision of a contract if—</p></intro><level class="para1"><num>(a)</num><content><p>the company becomes subject to a relevant insolvency procedure as specified in section 233B(2)(b) or (d), and</p></content></level><level class="para1"><num>(b)</num><content><p>the provision of the contract ceases to have effect under section 233A(1).</p></content></level></subparagraph><subparagraph><num>(2)</num><intro><p>Section 233B(7) does not apply in relation to a supply to the company if—</p></intro><level class="para1"><num>(a)</num><content><p>the company becomes subject to a relevant insolvency procedure as specified in section 233B(2)(b) to (f), and</p></content></level><level class="para1"><num>(b)</num><content><p>the supply is a supply mentioned in section 233(3).</p></content></level></subparagraph></paragraph></hcontainer></part><part><num>PART 2</num><heading>Persons involved in financial services</heading><hcontainer name="crossheading" class="schGroup7"><heading>Introductory</heading><paragraph class="schProv1"><num>2</num><content><p>Section 233B does not apply in relation to a contract for the supply of goods or services to a company (“the company”) where any of paragraphs 3 to 11 applies.</p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Insurers</heading><paragraph class="schProv1"><num>3</num><subparagraph><num>(1)</num><intro><p>This paragraph applies where either the company or the supplier—</p></intro><level class="para1"><num>(a)</num><content><p>carries on the regulated activity of effecting or carrying out contracts of insurance, and</p></content></level><level class="para1"><num>(b)</num><content><p>is not an exempt person in relation to that activity.</p></content></level></subparagraph><subparagraph><num>(2)</num><intro><p>In this paragraph—</p></intro><hcontainer name="definition"><content><p>“exempt person”, in relation to a regulated activity, has the meaning given by section 417 of the Financial Services and Markets Act 2000;</p></content></hcontainer><hcontainer name="definition"><content><p>“regulated activity” has the meaning given by section 22 of that Act, taken with Schedule 2 to that Act and any order under that section.</p></content></hcontainer></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Banks</heading><paragraph class="schProv1"><num>4</num><subparagraph><num>(1)</num><intro><p>This paragraph applies where either the company or the supplier—</p></intro><level class="para1" eId="d25e33616"><num>(a)</num><content><p>has permission under Part 4A of the Financial Services and Markets Act 2000 to carry on the regulated activity of accepting deposits,</p></content></level><level class="para1"><num>(b)</num><content><p>is a banking group company within the meaning of Part 1 of the Banking Act 2009 (see section 81D of that Act), or</p></content></level><level class="para1"><num>(c)</num><content><p>has a liability in respect of a deposit which it accepted in accordance with the Banking Act 1979 or the Banking Act 1987.</p></content></level></subparagraph><subparagraph><num>(2)</num><content><p>In sub-paragraph <ref href="#d25e33616">(1)(a)</ref> “regulated activity” has the meaning given by section 22 of the Financial Services and Markets Act 2000 2000, taken with Schedule 2 to that Act and any order under that section.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Electronic money institutions</heading><paragraph eId="d25e33646" class="schProv1"><num>5</num><content><p>This paragraph applies where either the company or the supplier is an electronic money institution within the meaning of the Electronic Money Regulations 2011 (<ref eId="c00115" href="http://www.legislation.gov.uk/id/uksi/2011/99">S.I. 2011/99</ref>) (see regulation 2 of those Regulations).</p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Investment banks and investment firms</heading><paragraph eId="d25e33658" class="schProv1"><num>6</num><subparagraph><num>(1)</num><content><p>This paragraph applies where either the company or the supplier is an investment bank or an investment firm.</p></content></subparagraph><subparagraph><num>(2)</num><intro><p>In this paragraph—</p></intro><hcontainer name="definition"><intro><p>“investment bank” means a company or other entity that has permission under Part 4A of the Financial Services and Markets Act 2000 to carry on the regulated activity of—</p></intro><level class="para1"><num>(a)</num><content><p>safeguarding and administering investments,</p></content></level><level class="para1"><num>(b)</num><content><p>managing an AIF or a UCITS,</p></content></level><level class="para1"><num>(c)</num><content><p>acting as trustee or depositary of an AIF or a UCITS,</p></content></level><level class="para1"><num>(d)</num><content><p>dealing in investments as principal, or</p></content></level><level class="para1"><num>(e)</num><content><p>dealing in investments as agent;</p></content></level></hcontainer><hcontainer name="definition"><content><p>“investment firm” has the same meaning as in the Banking Act 2009 (see section 258A of that Act), disregarding any order made under section 258A(2)(b) of that Act;</p></content></hcontainer><hcontainer name="definition"><content><p>“regulated activity” has the meaning given by section 22 of the Financial Services and Markets Act 2000, taken with Schedule 2 to that Act and any order under that section.</p></content></hcontainer></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Payment institutions</heading><paragraph eId="d25e33711" class="schProv1"><num>7</num><content><p>This paragraph applies where either the company or the supplier is an authorised payment institution, a small payment institution or a registered account information service provider within the meaning of the Payment Services Regulations 2017 (<ref eId="c00116" href="http://www.legislation.gov.uk/id/uksi/2017/752">S.I. 2017/752</ref>) (see regulation 2 of those Regulations).</p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Operators of payment systems, infrastructure providers etc</heading><paragraph class="schProv1"><num>8</num><intro><p>This paragraph applies where either the company or the supplier is—</p></intro><level class="para1"><num>(a)</num><content><p>the operator of a payment system or an infrastructure provider within the meaning of Part 5 of the Financial Services (Banking Reform) Act 2013 (see section 42 of that Act), or</p></content></level><level class="para1"><num>(b)</num><content><p>an infrastructure company within the meaning of Part 6 of that Act (see section 112 of that Act).</p></content></level></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Recognised investment exchanges etc</heading><paragraph class="schProv1"><num>9</num><content><p>This paragraph applies where either the company or the supplier is a recognised investment exchange, a recognised clearing house or a recognised CSD within the meaning of the Financial Services and Markets Act 2000 (see section 285 of that Act).</p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Securitisation companies</heading><paragraph eId="d25e33753" class="schProv1"><num>10</num><content><p>This paragraph applies where either the company or the supplier is a securitisation company within the meaning of the Taxation of Securitisation Companies Regulations 2006 (<ref eId="c00117" href="http://www.legislation.gov.uk/id/uksi/2006/3296">S.I. 2006/3296</ref>) (see regulation 4 of those Regulations).</p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Overseas activities</heading><paragraph eId="d25e33766" class="schProv1"><num>11</num><content><p>This paragraph applies where either the company or the supplier does or has done anything outside the United Kingdom which, if done in the United Kingdom, would cause any of the preceding paragraphs of this Part of this Schedule to apply.</p></content></paragraph></hcontainer></part><part><num>PART 3</num><heading>Contracts involving financial services</heading><hcontainer name="crossheading" class="schGroup7"><heading>Introductory</heading><paragraph class="schProv1"><num>12</num><content><p>To the extent that anything to which any of paragraphs 13 to 18 applies is a contract for the supply of goods or services, section 233B does not apply in relation to it.</p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Financial contracts</heading><paragraph class="schProv1"><num>13</num><subparagraph><num>(1)</num><content><p>This paragraph applies to a financial contract.</p></content></subparagraph><subparagraph><num>(2)</num><intro><p>“Financial contract” means—</p></intro><level class="para1"><num>(a)</num><intro><p>a contract for the provision of financial services consisting of—</p></intro><level class="para2"><num>(i)</num><content><p>lending (including the factoring and financing of commercial transactions),</p></content></level><level class="para2"><num>(ii)</num><content><p>financial leasing, or</p></content></level><level class="para2"><num>(iii)</num><content><p>providing guarantees or commitments;</p></content></level></level><level class="para1"><num>(b)</num><intro><p>a securities contract, including—</p></intro><level class="para2"><num>(i)</num><content><p>a contract for the purchase, sale or loan of a security or group or index of securities;</p></content></level><level class="para2"><num>(ii)</num><content><p>an option on a security or group or index of securities;</p></content></level><level class="para2"><num>(iii)</num><content><p>a repurchase or reverse repurchase transaction on any such security, group or index;</p></content></level></level><level class="para1"><num>(c)</num><intro><p>a commodities contract, including—</p></intro><level class="para2"><num>(i)</num><content><p>a contract for the purchase, sale or loan of a commodity or group or index of commodities for future delivery;</p></content></level><level class="para2"><num>(ii)</num><content><p>an option on a commodity or group or index of commodities;</p></content></level><level class="para2"><num>(iii)</num><content><p>a repurchase or reverse repurchase transaction on any such commodity, group or index;</p></content></level></level><level class="para1"><num>(d)</num><content><p>a futures or forwards contract, including a contract (other than a commodities contract) for the purchase, sale or transfer of a commodity or property of any other description, service, right or interest for a specified price at a future date;</p></content></level><level class="para1"><num>(e)</num><intro><p>a swap agreement, including—</p></intro><level class="para2"><num>(i)</num><content><p>a swap or option relating to interest rates, spot or other foreign exchange agreements, currency, an equity index or equity, a debt index or debt, commodity indexes or commodities, weather, emissions or inflation;</p></content></level><level class="para2"><num>(ii)</num><content><p>a total return, credit spread or credit swap;</p></content></level><level class="para2"><num>(iii)</num><content><p>any agreement or transaction similar to an agreement that is referred to in sub-paragraph (i) or (ii) and is the subject of recurrent dealing in the swaps or derivatives markets;</p></content></level></level><level class="para1"><num>(f)</num><content><p>an inter-bank borrowing agreement where the term of the borrowing is three months or less;</p></content></level><level class="para1"><num>(g)</num><content><p>a master agreement for any of the contracts or agreements referred to in paragraphs (a) to (f).</p></content></level></subparagraph><subparagraph><num>(3)</num><intro><p>For the purposes of this paragraph “commodities” includes—</p></intro><level class="para1"><num>(a)</num><content><p>units recognised for compliance with the requirements of <ref eId="c00118" href="http://www.legislation.gov.uk/european/directive/2003/0087">EU Directive 2003/87/EC</ref> establishing a scheme for greenhouse gas emission allowance trading,</p></content></level><level class="para1"><num>(b)</num><content><p>allowances under paragraph 5 of Schedule 2 to the Climate Change Act 2008 relating to a trading scheme dealt with under Part 1 of that Schedule (schemes limiting activities relating to emissions of greenhouse gas), and</p></content></level><level class="para1"><num>(c)</num><intro><p>renewables obligation certificates issued—</p></intro><level class="para2"><num>(i)</num><content><p>by the Gas and Electricity Markets Authority under an order made under section 32B of the Electricity Act 1989, or</p></content></level><level class="para2"><num>(ii)</num><content><p>by the Northern Ireland Authority for Utility Regulation under the Energy (Northern Ireland) Order 2003 (<ref eId="c00119" href="http://www.legislation.gov.uk/id/nisi/2003/419">S.I. 2003/419 (N.I. 6)</ref>) and pursuant to an order made under Articles 52 to 55F of that Order.</p></content></level></level></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Securities financing transactions</heading><paragraph class="schProv1"><num>14</num><subparagraph><num>(1)</num><intro><p>This paragraph applies to—</p></intro><level class="para1"><num>(a)</num><content><p>a securities financing transaction, and</p></content></level><level class="para1"><num>(b)</num><content><p>a master agreement for securities financing transactions.</p></content></level></subparagraph><subparagraph><num>(2)</num><content><p>“Securities financing transaction” has the meaning given by Article 3(11) of <ref eId="c00120" href="http://www.legislation.gov.uk/european/regulation/2015/2365">Regulation (EU) 2015/2365</ref> on the transparency of securities financing transactions.</p></content></subparagraph><subparagraph><num>(3)</num><content><p>But for the purposes of that Article as it applies for the purposes of this paragraph, references to “commodities” in that Regulation are to be taken as including the units, allowances and certificates referred to in paragraph 13(3)(a) to (c).</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Derivatives</heading><paragraph class="schProv1"><num>15</num><subparagraph><num>(1)</num><intro><p>This paragraph applies to—</p></intro><level class="para1"><num>(a)</num><content><p>a derivative, and</p></content></level><level class="para1"><num>(b)</num><content><p>a master agreement for derivatives.</p></content></level></subparagraph><subparagraph><num>(2)</num><content><p>“Derivative” has the meaning given by Article 2(5) of <ref eId="c00121" href="http://www.legislation.gov.uk/european/regulation/2012/0648">Regulation (EU) No. 648/2012</ref>.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Spot contracts</heading><paragraph class="schProv1"><num>16</num><subparagraph><num>(1)</num><intro><p>This paragraph applies to—</p></intro><level class="para1"><num>(a)</num><content><p>a spot contract, and</p></content></level><level class="para1"><num>(b)</num><content><p>a master agreement for spot contracts.</p></content></level></subparagraph><subparagraph><num>(2)</num><content><p>“Spot contract” has the meaning given by Article 7(2) or 10(2) of Commission Delegated Regulation of 25.4.2016 supplementing <ref eId="c00122" href="http://www.legislation.gov.uk/european/directive/2014/0065">Directive 2014/65/EU</ref> of the European Parliament and of the Council as regards organisational requirements and operating conditions for investment firms and defined terms for the purposes of that Directive.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Capital market investments</heading><paragraph class="schProv1"><num>17</num><subparagraph><num>(1)</num><content><p>This paragraph applies to an agreement which is, or forms part of, an arrangement involving the issue of a capital market investment.</p></content></subparagraph><subparagraph><num>(2)</num><content><p>“Capital market investment” has the meaning given by paragraph 14 of Schedule ZA1.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Contracts forming part of a public-private partnership</heading><paragraph class="schProv1"><num>18</num><content><p>This paragraph applies to a contract forming part of a public-private partnership project within the meaning given by paragraph 16 of Schedule ZA1.</p></content></paragraph></hcontainer></part><part><num>PART 4</num><heading>Other exclusions</heading><hcontainer name="crossheading" class="schGroup7"><heading>Financial markets and insolvency</heading><paragraph class="schProv1"><num>19</num><intro><p>Nothing in section 233B affects the operation of—</p></intro><level class="para1"><num>(a)</num><content><p>Part 7 of the Companies Act 1989 (financial markets and insolvency),</p></content></level><level class="para1"><num>(b)</num><content><p>the Financial Markets and Insolvency Regulations 1996 (<ref eId="c00123" href="http://www.legislation.gov.uk/id/uksi/1996/1469">S.I. 1996/1469</ref>),</p></content></level><level class="para1"><num>(c)</num><content><p>the Financial Markets and Insolvency (Settlement Finality) Regulations 1999 (<ref eId="c00124" href="http://www.legislation.gov.uk/id/uksi/1999/2979">S.I. 1999/2979</ref>), or</p></content></level><level class="para1"><num>(d)</num><content><p>the Financial Collateral Arrangements (No.2) Regulations 2003 (<ref eId="c00125" href="http://www.legislation.gov.uk/id/uksi/2003/3226">S.I. 2003/3226</ref>).</p></content></level></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Set-off and netting</heading><paragraph class="schProv1"><num>20</num><content><p>Nothing in section 233B affects any set-off or netting arrangements (within the meanings given by section 48(1)(c) and (d) of the Banking Act 2009).</p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Aircraft equipment</heading><paragraph class="schProv1"><num>21</num><content><p>Nothing in section 233B affects the International Interests in Aircraft Equipment (Cape Town Convention) Regulations 2015 (<ref eId="c00126" href="http://www.legislation.gov.uk/id/uksi/2015/912">S.I. 2015/912</ref>).</p></content></paragraph></hcontainer></part></hcontainer></quotedStructure></mod></p></content></paragraph></part><part eId="schedule-12-part-2"><num>PART 2</num><heading>Consequential amendments</heading><hcontainer name="crossheading" class="schGroup7"><heading>Amendments to Acts</heading><paragraph eId="schedule-12-paragraph-2" class="schProv1"><num>2</num><content><p><mod>In Schedule 15 to the Building Societies Act 1986 (application of companies winding up legislation to building societies), after paragraph 32 insert—<quotedStructure startQuote="“" endQuote="”" uk:context="schedule" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="schedule" ukl:Format="double"><hcontainer name="crossheading" class="schGroup7"><heading>Protection of supplies</heading><paragraph class="schProv1"><num>32A</num><content><p>Section 233B of the Act (protection of supplies of goods and services) does not apply.</p></content></paragraph></hcontainer></quotedStructure></mod></p></content></paragraph><paragraph eId="schedule-12-paragraph-3" class="schProv1"><num>3</num><content><p><mod>In Schedule 15A to the Building Societies Act 1986 (application of other companies insolvency legislation to building societies), after paragraph 27F insert—<quotedStructure startQuote="“" endQuote="”" uk:context="schedule" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="schedule" ukl:Format="double"><hcontainer name="crossheading" class="schGroup7"><heading>Protection of supplies</heading><paragraph class="schProv1"><num>27FA</num><content><p>Section 233B of the Act (protection of supplies of goods and services) is omitted.</p></content></paragraph></hcontainer></quotedStructure></mod></p></content></paragraph><paragraph eId="schedule-12-paragraph-4" class="schProv1"><num>4</num><content><p><mod>In Schedule 10 to the Friendly Societies Act 1992 (application of companies winding up legislation to friendly societies), after paragraph 35 insert—<quotedStructure startQuote="“" endQuote="”" uk:context="schedule" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="schedule" ukl:Format="double"><hcontainer name="crossheading" class="schGroup7"><heading>Protection of supplies</heading><paragraph class="schProv1"><num>35A</num><content><p>Section 233B of the Act (protection of supplies of goods and services) does not apply.</p></content></paragraph></hcontainer></quotedStructure></mod></p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Amendments to subordinate legislation</heading><paragraph eId="schedule-12-paragraph-5" class="schProv1"><num>5</num><content><p>In the Insolvent Partnerships Order 1994 (<ref eId="c00127" href="http://www.legislation.gov.uk/id/uksi/1994/2421">S.I. 1994/2421</ref>), in article 4(3)(a), for “section 233 and section 233A” substitute “sections 233, 233A and 233B and Schedule 4ZZA”.</p></content></paragraph><paragraph eId="schedule-12-paragraph-6" class="schProv1"><num>6</num><content><p><mod>In Schedule 4 to the Limited Liability Partnerships Regulations 2001 (<ref eId="c00128" href="http://www.legislation.gov.uk/id/uksi/2001/1090">S.I. 2001/1090</ref>) (disapplications for Scotland), after the entry relating to section 233A insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="regulation" ukl:Context="main" ukl:Format="double"><blockList class="unordered none" ukl:Name="UnorderedList" ukl:Decoration="none"><item><p>Section 233B to the extent that that section applies in the case of the appointment of an administrative receiver.</p></item></blockList></quotedStructure></mod></p></content></paragraph><paragraph eId="schedule-12-paragraph-7" class="schProv1"><num>7</num><content><p><mod>In Schedule 2 to the Limited Liability Partnerships (Scotland) Regulations 2001 (<ref eId="c00129" href="http://www.legislation.gov.uk/id/ssi/2001/128">S.S.I. 2001/128</ref>), after the entry relating to section 233A insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="regulation" ukl:Context="main" ukl:Format="double"><blockList class="unordered none" ukl:Name="UnorderedList" ukl:Decoration="none"><item><p>Section 233B to the extent that that section applies in the case of the appointment of an administrative receiver.</p></item></blockList></quotedStructure></mod></p></content></paragraph><paragraph eId="schedule-12-paragraph-8" class="schProv1"><num>8</num><content><p><mod>In Schedule 3 to the Co-operative and Community Benefit Societies and Credit Unions (Arrangements, Reconstructions and Administration) Order 2014 (<ref eId="c00130" href="http://www.legislation.gov.uk/id/uksi/2014/229">S.I. 2014/229</ref>), after paragraph 3 insert—<quotedStructure startQuote="“" endQuote="”" uk:context="schedule" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="order" ukl:Context="schedule" ukl:Format="double"><paragraph class="schProv1"><num>3A</num><content><p>Section 233B (protection of supplies of goods and services) does not apply in relation to a registered society that is registered as a credit union.</p></content></paragraph></quotedStructure></mod></p></content></paragraph></hcontainer></part></hcontainer>
<part xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" eId="schedule-12-part-1"><num>PART 1</num><heading>Exclusions</heading><paragraph eId="schedule-12-paragraph-1" class="schProv1"><num>1</num><content><p><mod>In the Insolvency Act 1986, after Schedule 4 insert—<quotedStructure startQuote="“" endQuote="”" uk:context="schedule" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="schedule" ukl:Format="double"><hcontainer name="schedule"><num>SCHEDULE 4ZZA<authorialNote class="referenceNote"><p>Section 233B</p></authorialNote></num><heading>Protection of supplies under section 233B: exclusions</heading><part><num>PART 1</num><heading>Essential supplies</heading><hcontainer name="crossheading" class="schGroup7"><heading>Essential supplies</heading><paragraph class="schProv1"><num>1</num><subparagraph><num>(1)</num><intro><p>Section 233B(3) and (4) do not apply in relation to provision of a contract if—</p></intro><level class="para1"><num>(a)</num><content><p>the company becomes subject to a relevant insolvency procedure as specified in section 233B(2)(b) or (d), and</p></content></level><level class="para1"><num>(b)</num><content><p>the provision of the contract ceases to have effect under section 233A(1).</p></content></level></subparagraph><subparagraph><num>(2)</num><intro><p>Section 233B(7) does not apply in relation to a supply to the company if—</p></intro><level class="para1"><num>(a)</num><content><p>the company becomes subject to a relevant insolvency procedure as specified in section 233B(2)(b) to (f), and</p></content></level><level class="para1"><num>(b)</num><content><p>the supply is a supply mentioned in section 233(3).</p></content></level></subparagraph></paragraph></hcontainer></part><part><num>PART 2</num><heading>Persons involved in financial services</heading><hcontainer name="crossheading" class="schGroup7"><heading>Introductory</heading><paragraph class="schProv1"><num>2</num><content><p>Section 233B does not apply in relation to a contract for the supply of goods or services to a company (“the company”) where any of paragraphs 3 to 11 applies.</p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Insurers</heading><paragraph class="schProv1"><num>3</num><subparagraph><num>(1)</num><intro><p>This paragraph applies where either the company or the supplier—</p></intro><level class="para1"><num>(a)</num><content><p>carries on the regulated activity of effecting or carrying out contracts of insurance, and</p></content></level><level class="para1"><num>(b)</num><content><p>is not an exempt person in relation to that activity.</p></content></level></subparagraph><subparagraph><num>(2)</num><intro><p>In this paragraph—</p></intro><hcontainer name="definition"><content><p>“exempt person”, in relation to a regulated activity, has the meaning given by section 417 of the Financial Services and Markets Act 2000;</p></content></hcontainer><hcontainer name="definition"><content><p>“regulated activity” has the meaning given by section 22 of that Act, taken with Schedule 2 to that Act and any order under that section.</p></content></hcontainer></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Banks</heading><paragraph class="schProv1"><num>4</num><subparagraph><num>(1)</num><intro><p>This paragraph applies where either the company or the supplier—</p></intro><level class="para1" eId="d25e33616"><num>(a)</num><content><p>has permission under Part 4A of the Financial Services and Markets Act 2000 to carry on the regulated activity of accepting deposits,</p></content></level><level class="para1"><num>(b)</num><content><p>is a banking group company within the meaning of Part 1 of the Banking Act 2009 (see section 81D of that Act), or</p></content></level><level class="para1"><num>(c)</num><content><p>has a liability in respect of a deposit which it accepted in accordance with the Banking Act 1979 or the Banking Act 1987.</p></content></level></subparagraph><subparagraph><num>(2)</num><content><p>In sub-paragraph <ref href="#d25e33616">(1)(a)</ref> “regulated activity” has the meaning given by section 22 of the Financial Services and Markets Act 2000 2000, taken with Schedule 2 to that Act and any order under that section.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Electronic money institutions</heading><paragraph eId="d25e33646" class="schProv1"><num>5</num><content><p>This paragraph applies where either the company or the supplier is an electronic money institution within the meaning of the Electronic Money Regulations 2011 (<ref eId="c00115" href="http://www.legislation.gov.uk/id/uksi/2011/99">S.I. 2011/99</ref>) (see regulation 2 of those Regulations).</p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Investment banks and investment firms</heading><paragraph eId="d25e33658" class="schProv1"><num>6</num><subparagraph><num>(1)</num><content><p>This paragraph applies where either the company or the supplier is an investment bank or an investment firm.</p></content></subparagraph><subparagraph><num>(2)</num><intro><p>In this paragraph—</p></intro><hcontainer name="definition"><intro><p>“investment bank” means a company or other entity that has permission under Part 4A of the Financial Services and Markets Act 2000 to carry on the regulated activity of—</p></intro><level class="para1"><num>(a)</num><content><p>safeguarding and administering investments,</p></content></level><level class="para1"><num>(b)</num><content><p>managing an AIF or a UCITS,</p></content></level><level class="para1"><num>(c)</num><content><p>acting as trustee or depositary of an AIF or a UCITS,</p></content></level><level class="para1"><num>(d)</num><content><p>dealing in investments as principal, or</p></content></level><level class="para1"><num>(e)</num><content><p>dealing in investments as agent;</p></content></level></hcontainer><hcontainer name="definition"><content><p>“investment firm” has the same meaning as in the Banking Act 2009 (see section 258A of that Act), disregarding any order made under section 258A(2)(b) of that Act;</p></content></hcontainer><hcontainer name="definition"><content><p>“regulated activity” has the meaning given by section 22 of the Financial Services and Markets Act 2000, taken with Schedule 2 to that Act and any order under that section.</p></content></hcontainer></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Payment institutions</heading><paragraph eId="d25e33711" class="schProv1"><num>7</num><content><p>This paragraph applies where either the company or the supplier is an authorised payment institution, a small payment institution or a registered account information service provider within the meaning of the Payment Services Regulations 2017 (<ref eId="c00116" href="http://www.legislation.gov.uk/id/uksi/2017/752">S.I. 2017/752</ref>) (see regulation 2 of those Regulations).</p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Operators of payment systems, infrastructure providers etc</heading><paragraph class="schProv1"><num>8</num><intro><p>This paragraph applies where either the company or the supplier is—</p></intro><level class="para1"><num>(a)</num><content><p>the operator of a payment system or an infrastructure provider within the meaning of Part 5 of the Financial Services (Banking Reform) Act 2013 (see section 42 of that Act), or</p></content></level><level class="para1"><num>(b)</num><content><p>an infrastructure company within the meaning of Part 6 of that Act (see section 112 of that Act).</p></content></level></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Recognised investment exchanges etc</heading><paragraph class="schProv1"><num>9</num><content><p>This paragraph applies where either the company or the supplier is a recognised investment exchange, a recognised clearing house or a recognised CSD within the meaning of the Financial Services and Markets Act 2000 (see section 285 of that Act).</p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Securitisation companies</heading><paragraph eId="d25e33753" class="schProv1"><num>10</num><content><p>This paragraph applies where either the company or the supplier is a securitisation company within the meaning of the Taxation of Securitisation Companies Regulations 2006 (<ref eId="c00117" href="http://www.legislation.gov.uk/id/uksi/2006/3296">S.I. 2006/3296</ref>) (see regulation 4 of those Regulations).</p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Overseas activities</heading><paragraph eId="d25e33766" class="schProv1"><num>11</num><content><p>This paragraph applies where either the company or the supplier does or has done anything outside the United Kingdom which, if done in the United Kingdom, would cause any of the preceding paragraphs of this Part of this Schedule to apply.</p></content></paragraph></hcontainer></part><part><num>PART 3</num><heading>Contracts involving financial services</heading><hcontainer name="crossheading" class="schGroup7"><heading>Introductory</heading><paragraph class="schProv1"><num>12</num><content><p>To the extent that anything to which any of paragraphs 13 to 18 applies is a contract for the supply of goods or services, section 233B does not apply in relation to it.</p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Financial contracts</heading><paragraph class="schProv1"><num>13</num><subparagraph><num>(1)</num><content><p>This paragraph applies to a financial contract.</p></content></subparagraph><subparagraph><num>(2)</num><intro><p>“Financial contract” means—</p></intro><level class="para1"><num>(a)</num><intro><p>a contract for the provision of financial services consisting of—</p></intro><level class="para2"><num>(i)</num><content><p>lending (including the factoring and financing of commercial transactions),</p></content></level><level class="para2"><num>(ii)</num><content><p>financial leasing, or</p></content></level><level class="para2"><num>(iii)</num><content><p>providing guarantees or commitments;</p></content></level></level><level class="para1"><num>(b)</num><intro><p>a securities contract, including—</p></intro><level class="para2"><num>(i)</num><content><p>a contract for the purchase, sale or loan of a security or group or index of securities;</p></content></level><level class="para2"><num>(ii)</num><content><p>an option on a security or group or index of securities;</p></content></level><level class="para2"><num>(iii)</num><content><p>a repurchase or reverse repurchase transaction on any such security, group or index;</p></content></level></level><level class="para1"><num>(c)</num><intro><p>a commodities contract, including—</p></intro><level class="para2"><num>(i)</num><content><p>a contract for the purchase, sale or loan of a commodity or group or index of commodities for future delivery;</p></content></level><level class="para2"><num>(ii)</num><content><p>an option on a commodity or group or index of commodities;</p></content></level><level class="para2"><num>(iii)</num><content><p>a repurchase or reverse repurchase transaction on any such commodity, group or index;</p></content></level></level><level class="para1"><num>(d)</num><content><p>a futures or forwards contract, including a contract (other than a commodities contract) for the purchase, sale or transfer of a commodity or property of any other description, service, right or interest for a specified price at a future date;</p></content></level><level class="para1"><num>(e)</num><intro><p>a swap agreement, including—</p></intro><level class="para2"><num>(i)</num><content><p>a swap or option relating to interest rates, spot or other foreign exchange agreements, currency, an equity index or equity, a debt index or debt, commodity indexes or commodities, weather, emissions or inflation;</p></content></level><level class="para2"><num>(ii)</num><content><p>a total return, credit spread or credit swap;</p></content></level><level class="para2"><num>(iii)</num><content><p>any agreement or transaction similar to an agreement that is referred to in sub-paragraph (i) or (ii) and is the subject of recurrent dealing in the swaps or derivatives markets;</p></content></level></level><level class="para1"><num>(f)</num><content><p>an inter-bank borrowing agreement where the term of the borrowing is three months or less;</p></content></level><level class="para1"><num>(g)</num><content><p>a master agreement for any of the contracts or agreements referred to in paragraphs (a) to (f).</p></content></level></subparagraph><subparagraph><num>(3)</num><intro><p>For the purposes of this paragraph “commodities” includes—</p></intro><level class="para1"><num>(a)</num><content><p>units recognised for compliance with the requirements of <ref eId="c00118" href="http://www.legislation.gov.uk/european/directive/2003/0087">EU Directive 2003/87/EC</ref> establishing a scheme for greenhouse gas emission allowance trading,</p></content></level><level class="para1"><num>(b)</num><content><p>allowances under paragraph 5 of Schedule 2 to the Climate Change Act 2008 relating to a trading scheme dealt with under Part 1 of that Schedule (schemes limiting activities relating to emissions of greenhouse gas), and</p></content></level><level class="para1"><num>(c)</num><intro><p>renewables obligation certificates issued—</p></intro><level class="para2"><num>(i)</num><content><p>by the Gas and Electricity Markets Authority under an order made under section 32B of the Electricity Act 1989, or</p></content></level><level class="para2"><num>(ii)</num><content><p>by the Northern Ireland Authority for Utility Regulation under the Energy (Northern Ireland) Order 2003 (<ref eId="c00119" href="http://www.legislation.gov.uk/id/nisi/2003/419">S.I. 2003/419 (N.I. 6)</ref>) and pursuant to an order made under Articles 52 to 55F of that Order.</p></content></level></level></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Securities financing transactions</heading><paragraph class="schProv1"><num>14</num><subparagraph><num>(1)</num><intro><p>This paragraph applies to—</p></intro><level class="para1"><num>(a)</num><content><p>a securities financing transaction, and</p></content></level><level class="para1"><num>(b)</num><content><p>a master agreement for securities financing transactions.</p></content></level></subparagraph><subparagraph><num>(2)</num><content><p>“Securities financing transaction” has the meaning given by Article 3(11) of <ref eId="c00120" href="http://www.legislation.gov.uk/european/regulation/2015/2365">Regulation (EU) 2015/2365</ref> on the transparency of securities financing transactions.</p></content></subparagraph><subparagraph><num>(3)</num><content><p>But for the purposes of that Article as it applies for the purposes of this paragraph, references to “commodities” in that Regulation are to be taken as including the units, allowances and certificates referred to in paragraph 13(3)(a) to (c).</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Derivatives</heading><paragraph class="schProv1"><num>15</num><subparagraph><num>(1)</num><intro><p>This paragraph applies to—</p></intro><level class="para1"><num>(a)</num><content><p>a derivative, and</p></content></level><level class="para1"><num>(b)</num><content><p>a master agreement for derivatives.</p></content></level></subparagraph><subparagraph><num>(2)</num><content><p>“Derivative” has the meaning given by Article 2(5) of <ref eId="c00121" href="http://www.legislation.gov.uk/european/regulation/2012/0648">Regulation (EU) No. 648/2012</ref>.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Spot contracts</heading><paragraph class="schProv1"><num>16</num><subparagraph><num>(1)</num><intro><p>This paragraph applies to—</p></intro><level class="para1"><num>(a)</num><content><p>a spot contract, and</p></content></level><level class="para1"><num>(b)</num><content><p>a master agreement for spot contracts.</p></content></level></subparagraph><subparagraph><num>(2)</num><content><p>“Spot contract” has the meaning given by Article 7(2) or 10(2) of Commission Delegated Regulation of 25.4.2016 supplementing <ref eId="c00122" href="http://www.legislation.gov.uk/european/directive/2014/0065">Directive 2014/65/EU</ref> of the European Parliament and of the Council as regards organisational requirements and operating conditions for investment firms and defined terms for the purposes of that Directive.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Capital market investments</heading><paragraph class="schProv1"><num>17</num><subparagraph><num>(1)</num><content><p>This paragraph applies to an agreement which is, or forms part of, an arrangement involving the issue of a capital market investment.</p></content></subparagraph><subparagraph><num>(2)</num><content><p>“Capital market investment” has the meaning given by paragraph 14 of Schedule ZA1.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Contracts forming part of a public-private partnership</heading><paragraph class="schProv1"><num>18</num><content><p>This paragraph applies to a contract forming part of a public-private partnership project within the meaning given by paragraph 16 of Schedule ZA1.</p></content></paragraph></hcontainer></part><part><num>PART 4</num><heading>Other exclusions</heading><hcontainer name="crossheading" class="schGroup7"><heading>Financial markets and insolvency</heading><paragraph class="schProv1"><num>19</num><intro><p>Nothing in section 233B affects the operation of—</p></intro><level class="para1"><num>(a)</num><content><p>Part 7 of the Companies Act 1989 (financial markets and insolvency),</p></content></level><level class="para1"><num>(b)</num><content><p>the Financial Markets and Insolvency Regulations 1996 (<ref eId="c00123" href="http://www.legislation.gov.uk/id/uksi/1996/1469">S.I. 1996/1469</ref>),</p></content></level><level class="para1"><num>(c)</num><content><p>the Financial Markets and Insolvency (Settlement Finality) Regulations 1999 (<ref eId="c00124" href="http://www.legislation.gov.uk/id/uksi/1999/2979">S.I. 1999/2979</ref>), or</p></content></level><level class="para1"><num>(d)</num><content><p>the Financial Collateral Arrangements (No.2) Regulations 2003 (<ref eId="c00125" href="http://www.legislation.gov.uk/id/uksi/2003/3226">S.I. 2003/3226</ref>).</p></content></level></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Set-off and netting</heading><paragraph class="schProv1"><num>20</num><content><p>Nothing in section 233B affects any set-off or netting arrangements (within the meanings given by section 48(1)(c) and (d) of the Banking Act 2009).</p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Aircraft equipment</heading><paragraph class="schProv1"><num>21</num><content><p>Nothing in section 233B affects the International Interests in Aircraft Equipment (Cape Town Convention) Regulations 2015 (<ref eId="c00126" href="http://www.legislation.gov.uk/id/uksi/2015/912">S.I. 2015/912</ref>).</p></content></paragraph></hcontainer></part></hcontainer></quotedStructure></mod></p></content></paragraph></part>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" eId="schedule-12-paragraph-1" class="schProv1"><num>1</num><content><p><mod>In the Insolvency Act 1986, after Schedule 4 insert—<quotedStructure startQuote="“" endQuote="”" uk:context="schedule" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="schedule" ukl:Format="double"><hcontainer name="schedule"><num>SCHEDULE 4ZZA<authorialNote class="referenceNote"><p>Section 233B</p></authorialNote></num><heading>Protection of supplies under section 233B: exclusions</heading><part><num>PART 1</num><heading>Essential supplies</heading><hcontainer name="crossheading" class="schGroup7"><heading>Essential supplies</heading><paragraph class="schProv1"><num>1</num><subparagraph><num>(1)</num><intro><p>Section 233B(3) and (4) do not apply in relation to provision of a contract if—</p></intro><level class="para1"><num>(a)</num><content><p>the company becomes subject to a relevant insolvency procedure as specified in section 233B(2)(b) or (d), and</p></content></level><level class="para1"><num>(b)</num><content><p>the provision of the contract ceases to have effect under section 233A(1).</p></content></level></subparagraph><subparagraph><num>(2)</num><intro><p>Section 233B(7) does not apply in relation to a supply to the company if—</p></intro><level class="para1"><num>(a)</num><content><p>the company becomes subject to a relevant insolvency procedure as specified in section 233B(2)(b) to (f), and</p></content></level><level class="para1"><num>(b)</num><content><p>the supply is a supply mentioned in section 233(3).</p></content></level></subparagraph></paragraph></hcontainer></part><part><num>PART 2</num><heading>Persons involved in financial services</heading><hcontainer name="crossheading" class="schGroup7"><heading>Introductory</heading><paragraph class="schProv1"><num>2</num><content><p>Section 233B does not apply in relation to a contract for the supply of goods or services to a company (“the company”) where any of paragraphs 3 to 11 applies.</p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Insurers</heading><paragraph class="schProv1"><num>3</num><subparagraph><num>(1)</num><intro><p>This paragraph applies where either the company or the supplier—</p></intro><level class="para1"><num>(a)</num><content><p>carries on the regulated activity of effecting or carrying out contracts of insurance, and</p></content></level><level class="para1"><num>(b)</num><content><p>is not an exempt person in relation to that activity.</p></content></level></subparagraph><subparagraph><num>(2)</num><intro><p>In this paragraph—</p></intro><hcontainer name="definition"><content><p>“exempt person”, in relation to a regulated activity, has the meaning given by section 417 of the Financial Services and Markets Act 2000;</p></content></hcontainer><hcontainer name="definition"><content><p>“regulated activity” has the meaning given by section 22 of that Act, taken with Schedule 2 to that Act and any order under that section.</p></content></hcontainer></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Banks</heading><paragraph class="schProv1"><num>4</num><subparagraph><num>(1)</num><intro><p>This paragraph applies where either the company or the supplier—</p></intro><level class="para1" eId="d25e33616"><num>(a)</num><content><p>has permission under Part 4A of the Financial Services and Markets Act 2000 to carry on the regulated activity of accepting deposits,</p></content></level><level class="para1"><num>(b)</num><content><p>is a banking group company within the meaning of Part 1 of the Banking Act 2009 (see section 81D of that Act), or</p></content></level><level class="para1"><num>(c)</num><content><p>has a liability in respect of a deposit which it accepted in accordance with the Banking Act 1979 or the Banking Act 1987.</p></content></level></subparagraph><subparagraph><num>(2)</num><content><p>In sub-paragraph <ref href="#d25e33616">(1)(a)</ref> “regulated activity” has the meaning given by section 22 of the Financial Services and Markets Act 2000 2000, taken with Schedule 2 to that Act and any order under that section.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Electronic money institutions</heading><paragraph eId="d25e33646" class="schProv1"><num>5</num><content><p>This paragraph applies where either the company or the supplier is an electronic money institution within the meaning of the Electronic Money Regulations 2011 (<ref eId="c00115" href="http://www.legislation.gov.uk/id/uksi/2011/99">S.I. 2011/99</ref>) (see regulation 2 of those Regulations).</p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Investment banks and investment firms</heading><paragraph eId="d25e33658" class="schProv1"><num>6</num><subparagraph><num>(1)</num><content><p>This paragraph applies where either the company or the supplier is an investment bank or an investment firm.</p></content></subparagraph><subparagraph><num>(2)</num><intro><p>In this paragraph—</p></intro><hcontainer name="definition"><intro><p>“investment bank” means a company or other entity that has permission under Part 4A of the Financial Services and Markets Act 2000 to carry on the regulated activity of—</p></intro><level class="para1"><num>(a)</num><content><p>safeguarding and administering investments,</p></content></level><level class="para1"><num>(b)</num><content><p>managing an AIF or a UCITS,</p></content></level><level class="para1"><num>(c)</num><content><p>acting as trustee or depositary of an AIF or a UCITS,</p></content></level><level class="para1"><num>(d)</num><content><p>dealing in investments as principal, or</p></content></level><level class="para1"><num>(e)</num><content><p>dealing in investments as agent;</p></content></level></hcontainer><hcontainer name="definition"><content><p>“investment firm” has the same meaning as in the Banking Act 2009 (see section 258A of that Act), disregarding any order made under section 258A(2)(b) of that Act;</p></content></hcontainer><hcontainer name="definition"><content><p>“regulated activity” has the meaning given by section 22 of the Financial Services and Markets Act 2000, taken with Schedule 2 to that Act and any order under that section.</p></content></hcontainer></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Payment institutions</heading><paragraph eId="d25e33711" class="schProv1"><num>7</num><content><p>This paragraph applies where either the company or the supplier is an authorised payment institution, a small payment institution or a registered account information service provider within the meaning of the Payment Services Regulations 2017 (<ref eId="c00116" href="http://www.legislation.gov.uk/id/uksi/2017/752">S.I. 2017/752</ref>) (see regulation 2 of those Regulations).</p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Operators of payment systems, infrastructure providers etc</heading><paragraph class="schProv1"><num>8</num><intro><p>This paragraph applies where either the company or the supplier is—</p></intro><level class="para1"><num>(a)</num><content><p>the operator of a payment system or an infrastructure provider within the meaning of Part 5 of the Financial Services (Banking Reform) Act 2013 (see section 42 of that Act), or</p></content></level><level class="para1"><num>(b)</num><content><p>an infrastructure company within the meaning of Part 6 of that Act (see section 112 of that Act).</p></content></level></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Recognised investment exchanges etc</heading><paragraph class="schProv1"><num>9</num><content><p>This paragraph applies where either the company or the supplier is a recognised investment exchange, a recognised clearing house or a recognised CSD within the meaning of the Financial Services and Markets Act 2000 (see section 285 of that Act).</p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Securitisation companies</heading><paragraph eId="d25e33753" class="schProv1"><num>10</num><content><p>This paragraph applies where either the company or the supplier is a securitisation company within the meaning of the Taxation of Securitisation Companies Regulations 2006 (<ref eId="c00117" href="http://www.legislation.gov.uk/id/uksi/2006/3296">S.I. 2006/3296</ref>) (see regulation 4 of those Regulations).</p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Overseas activities</heading><paragraph eId="d25e33766" class="schProv1"><num>11</num><content><p>This paragraph applies where either the company or the supplier does or has done anything outside the United Kingdom which, if done in the United Kingdom, would cause any of the preceding paragraphs of this Part of this Schedule to apply.</p></content></paragraph></hcontainer></part><part><num>PART 3</num><heading>Contracts involving financial services</heading><hcontainer name="crossheading" class="schGroup7"><heading>Introductory</heading><paragraph class="schProv1"><num>12</num><content><p>To the extent that anything to which any of paragraphs 13 to 18 applies is a contract for the supply of goods or services, section 233B does not apply in relation to it.</p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Financial contracts</heading><paragraph class="schProv1"><num>13</num><subparagraph><num>(1)</num><content><p>This paragraph applies to a financial contract.</p></content></subparagraph><subparagraph><num>(2)</num><intro><p>“Financial contract” means—</p></intro><level class="para1"><num>(a)</num><intro><p>a contract for the provision of financial services consisting of—</p></intro><level class="para2"><num>(i)</num><content><p>lending (including the factoring and financing of commercial transactions),</p></content></level><level class="para2"><num>(ii)</num><content><p>financial leasing, or</p></content></level><level class="para2"><num>(iii)</num><content><p>providing guarantees or commitments;</p></content></level></level><level class="para1"><num>(b)</num><intro><p>a securities contract, including—</p></intro><level class="para2"><num>(i)</num><content><p>a contract for the purchase, sale or loan of a security or group or index of securities;</p></content></level><level class="para2"><num>(ii)</num><content><p>an option on a security or group or index of securities;</p></content></level><level class="para2"><num>(iii)</num><content><p>a repurchase or reverse repurchase transaction on any such security, group or index;</p></content></level></level><level class="para1"><num>(c)</num><intro><p>a commodities contract, including—</p></intro><level class="para2"><num>(i)</num><content><p>a contract for the purchase, sale or loan of a commodity or group or index of commodities for future delivery;</p></content></level><level class="para2"><num>(ii)</num><content><p>an option on a commodity or group or index of commodities;</p></content></level><level class="para2"><num>(iii)</num><content><p>a repurchase or reverse repurchase transaction on any such commodity, group or index;</p></content></level></level><level class="para1"><num>(d)</num><content><p>a futures or forwards contract, including a contract (other than a commodities contract) for the purchase, sale or transfer of a commodity or property of any other description, service, right or interest for a specified price at a future date;</p></content></level><level class="para1"><num>(e)</num><intro><p>a swap agreement, including—</p></intro><level class="para2"><num>(i)</num><content><p>a swap or option relating to interest rates, spot or other foreign exchange agreements, currency, an equity index or equity, a debt index or debt, commodity indexes or commodities, weather, emissions or inflation;</p></content></level><level class="para2"><num>(ii)</num><content><p>a total return, credit spread or credit swap;</p></content></level><level class="para2"><num>(iii)</num><content><p>any agreement or transaction similar to an agreement that is referred to in sub-paragraph (i) or (ii) and is the subject of recurrent dealing in the swaps or derivatives markets;</p></content></level></level><level class="para1"><num>(f)</num><content><p>an inter-bank borrowing agreement where the term of the borrowing is three months or less;</p></content></level><level class="para1"><num>(g)</num><content><p>a master agreement for any of the contracts or agreements referred to in paragraphs (a) to (f).</p></content></level></subparagraph><subparagraph><num>(3)</num><intro><p>For the purposes of this paragraph “commodities” includes—</p></intro><level class="para1"><num>(a)</num><content><p>units recognised for compliance with the requirements of <ref eId="c00118" href="http://www.legislation.gov.uk/european/directive/2003/0087">EU Directive 2003/87/EC</ref> establishing a scheme for greenhouse gas emission allowance trading,</p></content></level><level class="para1"><num>(b)</num><content><p>allowances under paragraph 5 of Schedule 2 to the Climate Change Act 2008 relating to a trading scheme dealt with under Part 1 of that Schedule (schemes limiting activities relating to emissions of greenhouse gas), and</p></content></level><level class="para1"><num>(c)</num><intro><p>renewables obligation certificates issued—</p></intro><level class="para2"><num>(i)</num><content><p>by the Gas and Electricity Markets Authority under an order made under section 32B of the Electricity Act 1989, or</p></content></level><level class="para2"><num>(ii)</num><content><p>by the Northern Ireland Authority for Utility Regulation under the Energy (Northern Ireland) Order 2003 (<ref eId="c00119" href="http://www.legislation.gov.uk/id/nisi/2003/419">S.I. 2003/419 (N.I. 6)</ref>) and pursuant to an order made under Articles 52 to 55F of that Order.</p></content></level></level></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Securities financing transactions</heading><paragraph class="schProv1"><num>14</num><subparagraph><num>(1)</num><intro><p>This paragraph applies to—</p></intro><level class="para1"><num>(a)</num><content><p>a securities financing transaction, and</p></content></level><level class="para1"><num>(b)</num><content><p>a master agreement for securities financing transactions.</p></content></level></subparagraph><subparagraph><num>(2)</num><content><p>“Securities financing transaction” has the meaning given by Article 3(11) of <ref eId="c00120" href="http://www.legislation.gov.uk/european/regulation/2015/2365">Regulation (EU) 2015/2365</ref> on the transparency of securities financing transactions.</p></content></subparagraph><subparagraph><num>(3)</num><content><p>But for the purposes of that Article as it applies for the purposes of this paragraph, references to “commodities” in that Regulation are to be taken as including the units, allowances and certificates referred to in paragraph 13(3)(a) to (c).</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Derivatives</heading><paragraph class="schProv1"><num>15</num><subparagraph><num>(1)</num><intro><p>This paragraph applies to—</p></intro><level class="para1"><num>(a)</num><content><p>a derivative, and</p></content></level><level class="para1"><num>(b)</num><content><p>a master agreement for derivatives.</p></content></level></subparagraph><subparagraph><num>(2)</num><content><p>“Derivative” has the meaning given by Article 2(5) of <ref eId="c00121" href="http://www.legislation.gov.uk/european/regulation/2012/0648">Regulation (EU) No. 648/2012</ref>.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Spot contracts</heading><paragraph class="schProv1"><num>16</num><subparagraph><num>(1)</num><intro><p>This paragraph applies to—</p></intro><level class="para1"><num>(a)</num><content><p>a spot contract, and</p></content></level><level class="para1"><num>(b)</num><content><p>a master agreement for spot contracts.</p></content></level></subparagraph><subparagraph><num>(2)</num><content><p>“Spot contract” has the meaning given by Article 7(2) or 10(2) of Commission Delegated Regulation of 25.4.2016 supplementing <ref eId="c00122" href="http://www.legislation.gov.uk/european/directive/2014/0065">Directive 2014/65/EU</ref> of the European Parliament and of the Council as regards organisational requirements and operating conditions for investment firms and defined terms for the purposes of that Directive.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Capital market investments</heading><paragraph class="schProv1"><num>17</num><subparagraph><num>(1)</num><content><p>This paragraph applies to an agreement which is, or forms part of, an arrangement involving the issue of a capital market investment.</p></content></subparagraph><subparagraph><num>(2)</num><content><p>“Capital market investment” has the meaning given by paragraph 14 of Schedule ZA1.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Contracts forming part of a public-private partnership</heading><paragraph class="schProv1"><num>18</num><content><p>This paragraph applies to a contract forming part of a public-private partnership project within the meaning given by paragraph 16 of Schedule ZA1.</p></content></paragraph></hcontainer></part><part><num>PART 4</num><heading>Other exclusions</heading><hcontainer name="crossheading" class="schGroup7"><heading>Financial markets and insolvency</heading><paragraph class="schProv1"><num>19</num><intro><p>Nothing in section 233B affects the operation of—</p></intro><level class="para1"><num>(a)</num><content><p>Part 7 of the Companies Act 1989 (financial markets and insolvency),</p></content></level><level class="para1"><num>(b)</num><content><p>the Financial Markets and Insolvency Regulations 1996 (<ref eId="c00123" href="http://www.legislation.gov.uk/id/uksi/1996/1469">S.I. 1996/1469</ref>),</p></content></level><level class="para1"><num>(c)</num><content><p>the Financial Markets and Insolvency (Settlement Finality) Regulations 1999 (<ref eId="c00124" href="http://www.legislation.gov.uk/id/uksi/1999/2979">S.I. 1999/2979</ref>), or</p></content></level><level class="para1"><num>(d)</num><content><p>the Financial Collateral Arrangements (No.2) Regulations 2003 (<ref eId="c00125" href="http://www.legislation.gov.uk/id/uksi/2003/3226">S.I. 2003/3226</ref>).</p></content></level></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Set-off and netting</heading><paragraph class="schProv1"><num>20</num><content><p>Nothing in section 233B affects any set-off or netting arrangements (within the meanings given by section 48(1)(c) and (d) of the Banking Act 2009).</p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Aircraft equipment</heading><paragraph class="schProv1"><num>21</num><content><p>Nothing in section 233B affects the International Interests in Aircraft Equipment (Cape Town Convention) Regulations 2015 (<ref eId="c00126" href="http://www.legislation.gov.uk/id/uksi/2015/912">S.I. 2015/912</ref>).</p></content></paragraph></hcontainer></part></hcontainer></quotedStructure></mod></p></content></paragraph>
<part xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" eId="schedule-12-part-2"><num>PART 2</num><heading>Consequential amendments</heading><hcontainer name="crossheading" class="schGroup7"><heading>Amendments to Acts</heading><paragraph eId="schedule-12-paragraph-2" class="schProv1"><num>2</num><content><p><mod>In Schedule 15 to the Building Societies Act 1986 (application of companies winding up legislation to building societies), after paragraph 32 insert—<quotedStructure startQuote="“" endQuote="”" uk:context="schedule" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="schedule" ukl:Format="double"><hcontainer name="crossheading" class="schGroup7"><heading>Protection of supplies</heading><paragraph class="schProv1"><num>32A</num><content><p>Section 233B of the Act (protection of supplies of goods and services) does not apply.</p></content></paragraph></hcontainer></quotedStructure></mod></p></content></paragraph><paragraph eId="schedule-12-paragraph-3" class="schProv1"><num>3</num><content><p><mod>In Schedule 15A to the Building Societies Act 1986 (application of other companies insolvency legislation to building societies), after paragraph 27F insert—<quotedStructure startQuote="“" endQuote="”" uk:context="schedule" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="schedule" ukl:Format="double"><hcontainer name="crossheading" class="schGroup7"><heading>Protection of supplies</heading><paragraph class="schProv1"><num>27FA</num><content><p>Section 233B of the Act (protection of supplies of goods and services) is omitted.</p></content></paragraph></hcontainer></quotedStructure></mod></p></content></paragraph><paragraph eId="schedule-12-paragraph-4" class="schProv1"><num>4</num><content><p><mod>In Schedule 10 to the Friendly Societies Act 1992 (application of companies winding up legislation to friendly societies), after paragraph 35 insert—<quotedStructure startQuote="“" endQuote="”" uk:context="schedule" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="schedule" ukl:Format="double"><hcontainer name="crossheading" class="schGroup7"><heading>Protection of supplies</heading><paragraph class="schProv1"><num>35A</num><content><p>Section 233B of the Act (protection of supplies of goods and services) does not apply.</p></content></paragraph></hcontainer></quotedStructure></mod></p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Amendments to subordinate legislation</heading><paragraph eId="schedule-12-paragraph-5" class="schProv1"><num>5</num><content><p>In the Insolvent Partnerships Order 1994 (<ref eId="c00127" href="http://www.legislation.gov.uk/id/uksi/1994/2421">S.I. 1994/2421</ref>), in article 4(3)(a), for “section 233 and section 233A” substitute “sections 233, 233A and 233B and Schedule 4ZZA”.</p></content></paragraph><paragraph eId="schedule-12-paragraph-6" class="schProv1"><num>6</num><content><p><mod>In Schedule 4 to the Limited Liability Partnerships Regulations 2001 (<ref eId="c00128" href="http://www.legislation.gov.uk/id/uksi/2001/1090">S.I. 2001/1090</ref>) (disapplications for Scotland), after the entry relating to section 233A insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="regulation" ukl:Context="main" ukl:Format="double"><blockList class="unordered none" ukl:Name="UnorderedList" ukl:Decoration="none"><item><p>Section 233B to the extent that that section applies in the case of the appointment of an administrative receiver.</p></item></blockList></quotedStructure></mod></p></content></paragraph><paragraph eId="schedule-12-paragraph-7" class="schProv1"><num>7</num><content><p><mod>In Schedule 2 to the Limited Liability Partnerships (Scotland) Regulations 2001 (<ref eId="c00129" href="http://www.legislation.gov.uk/id/ssi/2001/128">S.S.I. 2001/128</ref>), after the entry relating to section 233A insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="regulation" ukl:Context="main" ukl:Format="double"><blockList class="unordered none" ukl:Name="UnorderedList" ukl:Decoration="none"><item><p>Section 233B to the extent that that section applies in the case of the appointment of an administrative receiver.</p></item></blockList></quotedStructure></mod></p></content></paragraph><paragraph eId="schedule-12-paragraph-8" class="schProv1"><num>8</num><content><p><mod>In Schedule 3 to the Co-operative and Community Benefit Societies and Credit Unions (Arrangements, Reconstructions and Administration) Order 2014 (<ref eId="c00130" href="http://www.legislation.gov.uk/id/uksi/2014/229">S.I. 2014/229</ref>), after paragraph 3 insert—<quotedStructure startQuote="“" endQuote="”" uk:context="schedule" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="order" ukl:Context="schedule" ukl:Format="double"><paragraph class="schProv1"><num>3A</num><content><p>Section 233B (protection of supplies of goods and services) does not apply in relation to a registered society that is registered as a credit union.</p></content></paragraph></quotedStructure></mod></p></content></paragraph></hcontainer></part>
<hcontainer xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" name="definition"><intro><p>“<term refersTo="#term-corporate-insolvency-or-restructuring-procedure" eId="term-corporate-insolvency-or-restructuring-procedure">corporate insolvency or restructuring procedure</term>” means—</p></intro><level class="para1"><num>(a)</num><content><p>a moratorium under Part A1 of the Insolvency Act 1986;</p></content></level><level class="para1"><num>(b)</num><content><p>a company voluntary arrangement under Part 1 of that Act (including a moratorium under section 1A of that Act in a case where such a moratorium applies after the coming into force of paragraph 30 of Schedule 3);</p></content></level><level class="para1"><num>(c)</num><content><p>administration under Part 2 of that Act;</p></content></level><level class="para1"><num>(d)</num><content><p>receivership to which Part 3 of that Act applies;</p></content></level><level class="para1"><num>(e)</num><content><p>winding up under Part 4 or 5 of that Act;</p></content></level><level class="para1"><num>(f)</num><content><p>the procedure provided for by Part 26A of the Companies Act 2006;</p></content></level></hcontainer>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-12-paragraph-5" class="schProv1"><num>5</num><content><p>In the Insolvent Partnerships Order 1994 (<ref eId="c00127" href="http://www.legislation.gov.uk/id/uksi/1994/2421">S.I. 1994/2421</ref>), in article 4(3)(a), for “section 233 and section 233A” substitute “sections 233, 233A and 233B and Schedule 4ZZA”.</p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" eId="schedule-12-paragraph-6" class="schProv1"><num>6</num><content><p><mod>In Schedule 4 to the Limited Liability Partnerships Regulations 2001 (<ref eId="c00128" href="http://www.legislation.gov.uk/id/uksi/2001/1090">S.I. 2001/1090</ref>) (disapplications for Scotland), after the entry relating to section 233A insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="regulation" ukl:Context="main" ukl:Format="double"><blockList class="unordered none" ukl:Name="UnorderedList" ukl:Decoration="none"><item><p>Section 233B to the extent that that section applies in the case of the appointment of an administrative receiver.</p></item></blockList></quotedStructure></mod></p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" eId="schedule-12-paragraph-7" class="schProv1"><num>7</num><content><p><mod>In Schedule 2 to the Limited Liability Partnerships (Scotland) Regulations 2001 (<ref eId="c00129" href="http://www.legislation.gov.uk/id/ssi/2001/128">S.S.I. 2001/128</ref>), after the entry relating to section 233A insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="regulation" ukl:Context="main" ukl:Format="double"><blockList class="unordered none" ukl:Name="UnorderedList" ukl:Decoration="none"><item><p>Section 233B to the extent that that section applies in the case of the appointment of an administrative receiver.</p></item></blockList></quotedStructure></mod></p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" eId="schedule-12-paragraph-8" class="schProv1"><num>8</num><content><p><mod>In Schedule 3 to the Co-operative and Community Benefit Societies and Credit Unions (Arrangements, Reconstructions and Administration) Order 2014 (<ref eId="c00130" href="http://www.legislation.gov.uk/id/uksi/2014/229">S.I. 2014/229</ref>), after paragraph 3 insert—<quotedStructure startQuote="“" endQuote="”" uk:context="schedule" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="order" ukl:Context="schedule" ukl:Format="double"><paragraph class="schProv1"><num>3A</num><content><p>Section 233B (protection of supplies of goods and services) does not apply in relation to a registered society that is registered as a credit union.</p></content></paragraph></quotedStructure></mod></p></content></paragraph>
<hcontainer xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" name="schedule" eId="schedule-13"><num>SCHEDULE 13<authorialNote class="referenceNote"><p>Section 18</p></authorialNote></num><heading>Protection of supplies of goods and services: Northern Ireland</heading><part eId="schedule-13-part-1"><num>PART 1</num><heading>Exclusions</heading><paragraph eId="schedule-13-paragraph-1" class="schProv1"><num>1</num><content><p><mod>After Schedule 2 to the Insolvency (Northern Ireland) Order 1989 insert—<quotedStructure startQuote="“" endQuote="”" uk:context="schedule" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="order" ukl:Context="schedule" ukl:Format="double"><hcontainer name="schedule"><num>SCHEDULE 2ZZA<authorialNote class="referenceNote"><p>Article 197B</p></authorialNote></num><heading>Protection of supplies under Article 197B: exclusions</heading><part><num>PART 1</num><heading>Essential supplies</heading><hcontainer name="crossheading" class="schGroup7"><heading>Essential supplies</heading><paragraph class="schProv1"><num>1</num><subparagraph><num>(1)</num><intro><p>Article 197B(3) and (4) do not apply in relation to provision of a contract if—</p></intro><level class="para1"><num>(a)</num><content><p>the company becomes subject to a relevant insolvency procedure as specified in Article 197B(2)(b) or (d), and</p></content></level><level class="para1"><num>(b)</num><content><p>the provision of the contract ceases to have effect under Article 197A(1).</p></content></level></subparagraph><subparagraph><num>(2)</num><intro><p>Article 197B(7) does not apply in relation to a supply to the company if—</p></intro><level class="para1"><num>(a)</num><content><p>the company becomes subject to a relevant insolvency procedure as specified in Article 197B(2)(b) to (f), and</p></content></level><level class="para1"><num>(b)</num><content><p>the supply is a supply mentioned in Article 197(3).</p></content></level></subparagraph></paragraph></hcontainer></part><part><num>PART 2</num><heading>Persons involved in financial services</heading><hcontainer name="crossheading" class="schGroup7"><heading>Introductory</heading><paragraph class="schProv1"><num>2</num><content><p>Article 197B does not apply in relation to a contract for the supply of goods or services to a company (“the company”) where any of paragraphs 3 to 11 applies.</p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Insurers</heading><paragraph class="schProv1"><num>3</num><subparagraph><num>(1)</num><intro><p>This paragraph applies where either the company or the supplier—</p></intro><level class="para1"><num>(a)</num><content><p>carries on the regulated activity of effecting or carrying out contracts of insurance, and</p></content></level><level class="para1"><num>(b)</num><content><p>is not an exempt person in relation to that activity.</p></content></level></subparagraph><subparagraph><num>(2)</num><intro><p>In this paragraph—</p></intro><hcontainer name="definition"><content><p>“exempt person”, in relation to a regulated activity, has the meaning given by section 417 of the Financial Services and Markets Act 2000;</p></content></hcontainer><hcontainer name="definition"><content><p>“regulated activity” has the meaning given by section 22 of that Act, taken with Schedule 2 to that Act and any order under that section.</p></content></hcontainer></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Banks</heading><paragraph class="schProv1"><num>4</num><subparagraph><num>(1)</num><intro><p>This paragraph applies where either the company or the supplier—</p></intro><level class="para1" eId="d25e34424"><num>(a)</num><content><p>has permission under Part 4A of the Financial Services and Markets Act 2000 to carry on the regulated activity of accepting deposits,</p></content></level><level class="para1"><num>(b)</num><content><p>is a banking group company within the meaning of Part 1 of the Banking Act 2009 (see section 81D of that Act), or</p></content></level><level class="para1"><num>(c)</num><content><p>has a liability in respect of a deposit which it accepted in accordance with the Banking Act 1979 or the Banking Act 1987.</p></content></level></subparagraph><subparagraph><num>(2)</num><content><p>In sub-paragraph <ref href="#d25e34424">(1)(a)</ref> “regulated activity” has the meaning given by section 22 of the Financial Services and Markets Act 2000 2000, taken with Schedule 2 to that Act and any order under that section.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Electronic money institutions</heading><paragraph eId="d25e34454" class="schProv1"><num>5</num><content><p>This paragraph applies where either the company or the supplier is an electronic money institution within the meaning of the Electronic Money Regulations 2011 (<ref eId="c00131" href="http://www.legislation.gov.uk/id/uksi/2011/99">S.I. 2011/99</ref>) (see regulation 2 of those Regulations).</p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Investment banks and investment firms</heading><paragraph eId="d25e34466" class="schProv1"><num>6</num><subparagraph><num>(1)</num><content><p>This paragraph applies where either the company or the supplier is an investment bank or an investment firm.</p></content></subparagraph><subparagraph><num>(2)</num><intro><p>In this paragraph—</p></intro><hcontainer name="definition"><intro><p>“investment bank” means a company or other entity that has permission under Part 4A of the Financial Services and Markets Act 2000 to carry on the regulated activity of—</p></intro><level class="para1"><num>(a)</num><content><p>safeguarding and administering investments,</p></content></level><level class="para1"><num>(b)</num><content><p>managing an AIF or a UCITS,</p></content></level><level class="para1"><num>(c)</num><content><p>acting as trustee or depositary of an AIF or a UCITS,</p></content></level><level class="para1"><num>(d)</num><content><p>dealing in investments as principal, or</p></content></level><level class="para1"><num>(e)</num><content><p>dealing in investments as agent;</p></content></level></hcontainer><hcontainer name="definition"><content><p>“investment firm” has the same meaning as in the Banking Act 2009 (see section 258A of that Act), disregarding any order made under section 258A(2)(b) of that Act;</p></content></hcontainer><hcontainer name="definition"><content><p>“regulated activity” has the meaning given by section 22 of the Financial Services and Markets Act 2000, taken with Schedule 2 to that Act and any order under that section.</p></content></hcontainer></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Payment institutions</heading><paragraph eId="d25e34519" class="schProv1"><num>7</num><content><p>This paragraph applies where either the company or the supplier is an authorised payment institution, a small payment institution or a registered account information service provider within the meaning of the Payment Services Regulations 2017 (<ref eId="c00132" href="http://www.legislation.gov.uk/id/uksi/2017/752">S.I. 2017/752</ref>) (see regulation 2 of those Regulations).</p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Operators of payment systems, infrastructure providers etc</heading><paragraph class="schProv1"><num>8</num><intro><p>This paragraph applies where either the company or the supplier is—</p></intro><level class="para1"><num>(a)</num><content><p>the operator of a payment system or an infrastructure provider within the meaning of Part 5 of the Financial Services (Banking Reform) Act 2013 (see section 42 of that Act), or</p></content></level><level class="para1"><num>(b)</num><content><p>an infrastructure company within the meaning of Part 6 of that Act (see section 112 of that Act).</p></content></level></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Recognised investment exchanges etc</heading><paragraph class="schProv1"><num>9</num><content><p>This paragraph applies where either the company or the supplier is a recognised investment exchange, a recognised clearing house or a recognised CSD within the meaning of the Financial Services and Markets Act 2000 (see section 285 of that Act).</p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Securitisation companies</heading><paragraph eId="d25e34561" class="schProv1"><num>10</num><content><p>This paragraph applies where either the company or the supplier is a securitisation company within the meaning of the Taxation of Securitisation Companies Regulations 2006 (<ref eId="c00133" href="http://www.legislation.gov.uk/id/uksi/2006/3296">S.I. 2006/3296</ref>) (see regulation 4 of those Regulations).</p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Overseas activities</heading><paragraph eId="d25e34574" class="schProv1"><num>11</num><content><p>This paragraph applies where either the company or the supplier does or has done anything outside the United Kingdom which, if done in the United Kingdom, would cause any of the preceding paragraphs of this Part of this Schedule to apply.</p></content></paragraph></hcontainer></part><part><num>PART 3</num><heading>Contracts involving financial services</heading><hcontainer name="crossheading" class="schGroup7"><heading>Introductory</heading><paragraph class="schProv1"><num>12</num><content><p>To the extent that anything to which any of paragraphs 13 to 18 applies is a contract for the supply of goods or services, Article 197B does not apply in relation to it.</p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Financial contracts</heading><paragraph class="schProv1"><num>13</num><subparagraph><num>(1)</num><content><p>This paragraph applies to a financial contract.</p></content></subparagraph><subparagraph><num>(2)</num><intro><p>“Financial contract” means—</p></intro><level class="para1"><num>(a)</num><intro><p>a contract for the provision of financial services consisting of—</p></intro><level class="para2"><num>(i)</num><content><p>lending (including the factoring and financing of commercial transactions),</p></content></level><level class="para2"><num>(ii)</num><content><p>financial leasing, or</p></content></level><level class="para2"><num>(iii)</num><content><p>providing guarantees or commitments;</p></content></level></level><level class="para1"><num>(b)</num><intro><p>a securities contract, including—</p></intro><level class="para2"><num>(i)</num><content><p>a contract for the purchase, sale or loan of a security or group or index of securities;</p></content></level><level class="para2"><num>(ii)</num><content><p>an option on a security or group or index of securities;</p></content></level><level class="para2"><num>(iii)</num><content><p>a repurchase or reverse repurchase transaction on any such security, group or index;</p></content></level></level><level class="para1"><num>(c)</num><intro><p>a commodities contract, including—</p></intro><level class="para2"><num>(i)</num><content><p>a contract for the purchase, sale or loan of a commodity or group or index of commodities for future delivery;</p></content></level><level class="para2"><num>(ii)</num><content><p>an option on a commodity or group or index of commodities;</p></content></level><level class="para2"><num>(iii)</num><content><p>a repurchase or reverse repurchase transaction on any such commodity, group or index;</p></content></level></level><level class="para1"><num>(d)</num><content><p>a futures or forwards contract, including a contract (other than a commodities contract) for the purchase, sale or transfer of a commodity or property of any other description, service, right or interest for a specified price at a future date;</p></content></level><level class="para1"><num>(e)</num><intro><p>a swap agreement, including—</p></intro><level class="para2"><num>(i)</num><content><p>a swap or option relating to interest rates, spot or other foreign exchange agreements, currency, an equity index or equity, a debt index or debt, commodity indexes or commodities, weather, emissions or inflation;</p></content></level><level class="para2"><num>(ii)</num><content><p>a total return, credit spread or credit swap;</p></content></level><level class="para2"><num>(iii)</num><content><p>any agreement or transaction similar to an agreement that is referred to in sub-paragraph (i) or (ii) and is the subject of recurrent dealing in the swaps or derivatives markets;</p></content></level></level><level class="para1"><num>(f)</num><content><p>an inter-bank borrowing agreement where the term of the borrowing is three months or less;</p></content></level><level class="para1"><num>(g)</num><content><p>a master agreement for any of the contracts or agreements referred to in paragraphs (a) to (f).</p></content></level></subparagraph><subparagraph><num>(3)</num><intro><p>For the purposes of this paragraph “commodities” includes—</p></intro><level class="para1"><num>(a)</num><content><p>units recognised for compliance with the requirements of <ref eId="c00134" href="http://www.legislation.gov.uk/european/directive/2003/0087">EU Directive 2003/87/EC</ref> establishing a scheme for greenhouse gas emission allowance trading,</p></content></level><level class="para1"><num>(b)</num><content><p>allowances under paragraph 5 of Schedule 2 to the Climate Change Act 2008 relating to a trading scheme dealt with under Part 1 of that Schedule (schemes limiting activities relating to emissions of greenhouse gas), and</p></content></level><level class="para1"><num>(c)</num><intro><p>renewables obligation certificates issued—</p></intro><level class="para2"><num>(i)</num><content><p>by the Gas and Electricity Markets Authority under an order made under section 32B of the Electricity Act 1989, or</p></content></level><level class="para2"><num>(ii)</num><content><p>by the Northern Ireland Authority for Utility Regulation under the Energy (Northern Ireland) Order 2003 (<ref eId="c00135" href="http://www.legislation.gov.uk/id/nisi/2003/419">S.I. 2003/419 (N.I. 6)</ref>) and pursuant to an order made under Articles 52 to 55F of that Order.</p></content></level></level></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Securities financing transactions</heading><paragraph class="schProv1"><num>14</num><subparagraph><num>(1)</num><intro><p>This paragraph applies to—</p></intro><level class="para1"><num>(a)</num><content><p>a securities financing transaction, and</p></content></level><level class="para1"><num>(b)</num><content><p>a master agreement for securities financing transactions.</p></content></level></subparagraph><subparagraph><num>(2)</num><content><p>“Securities financing transaction” has the meaning given by Article 3(11) of <ref eId="c00136" href="http://www.legislation.gov.uk/european/regulation/2015/2365">Regulation (EU) 2015/2365</ref> on the transparency of securities financing transactions.</p></content></subparagraph><subparagraph><num>(3)</num><content><p>But for the purposes of that Article as it applies for the purposes of this paragraph, references to “commodities” in that Regulation are to be taken as including the units, allowances and certificates referred to in paragraph 13(3)(a) to (c).</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Derivatives</heading><paragraph class="schProv1"><num>15</num><subparagraph><num>(1)</num><intro><p>This paragraph applies to—</p></intro><level class="para1"><num>(a)</num><content><p>a derivative, and</p></content></level><level class="para1"><num>(b)</num><content><p>a master agreement for derivatives.</p></content></level></subparagraph><subparagraph><num>(2)</num><content><p>“Derivative” has the meaning given by Article 2(5) of <ref eId="c00137" href="http://www.legislation.gov.uk/european/regulation/2012/0648">Regulation (EU) No. 648/2012</ref>.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Spot contracts</heading><paragraph class="schProv1"><num>16</num><subparagraph><num>(1)</num><intro><p>This paragraph applies to—</p></intro><level class="para1"><num>(a)</num><content><p>a spot contract, and</p></content></level><level class="para1"><num>(b)</num><content><p>a master agreement for spot contracts.</p></content></level></subparagraph><subparagraph><num>(2)</num><content><p>“Spot contract” has the meaning given by Article 7(2) or 10(2) of Commission Delegated Regulation of 25.4.2016 supplementing <ref eId="c00138" href="http://www.legislation.gov.uk/european/directive/2014/0065">Directive 2014/65/EU</ref> of the European Parliament and of the Council as regards organisational requirements and operating conditions for investment firms and defined terms for the purposes of that Directive.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Capital market investments</heading><paragraph class="schProv1"><num>17</num><subparagraph><num>(1)</num><content><p>This paragraph applies to an agreement which is, or forms part of, an arrangement involving the issue of a capital market investment.</p></content></subparagraph><subparagraph><num>(2)</num><content><p>“Capital market investment” has the meaning given by paragraph 14 of Schedule ZA1.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Contracts forming part of a public-private partnership</heading><paragraph class="schProv1"><num>18</num><content><p>This paragraph applies to a contract forming part of a public-private partnership project within the meaning given by paragraph 16 of Schedule ZA1.</p></content></paragraph></hcontainer></part><part><num>PART 4</num><heading>Other exclusions</heading><hcontainer name="crossheading" class="schGroup7"><heading>Financial markets and insolvency</heading><paragraph class="schProv1"><num>19</num><intro><p>Nothing in Article 197B affects the operation of—</p></intro><level class="para1"><num>(a)</num><content><p>Part 5 of the Companies (No. 2) (Northern Ireland) Order 1990 (financial markets and insolvency),</p></content></level><level class="para1"><num>(b)</num><content><p>the Financial Markets and Insolvency Regulations (Northern Ireland) 1996 (<ref eId="c00139" href="http://www.legislation.gov.uk/id/nisr/1996/252">S.R. 1996/252</ref>),</p></content></level><level class="para1"><num>(c)</num><content><p>the Financial Markets and Insolvency (Settlement Finality) Regulations 1999 (<ref eId="c00140" href="http://www.legislation.gov.uk/id/uksi/1999/2979">S.I. 1999/2979</ref>), or</p></content></level><level class="para1"><num>(d)</num><content><p>the Financial Collateral Arrangements (No.2) Regulations 2003 (<ref eId="c00141" href="http://www.legislation.gov.uk/id/uksi/2003/3226">S.I. 2003/3226</ref>).</p></content></level></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Set-off and netting</heading><paragraph class="schProv1"><num>20</num><content><p>Nothing in Article 197B affects any set-off or netting arrangements (within the meanings given by section 48(1)(c) and (d) of the Banking Act 2009).</p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Aircraft equipment</heading><paragraph class="schProv1"><num>21</num><content><p>Nothing in Article 197B affects the International Interests in Aircraft Equipment (Cape Town Convention) Regulations 2015 (<ref eId="c00142" href="http://www.legislation.gov.uk/id/uksi/2015/912">S.I. 2015/912</ref>).</p></content></paragraph></hcontainer></part></hcontainer></quotedStructure></mod></p></content></paragraph></part><part eId="schedule-13-part-2"><num>PART 2</num><heading>Consequential amendments</heading><hcontainer name="crossheading" class="schGroup7"><heading>Amendments to Acts</heading><paragraph eId="schedule-13-paragraph-2" class="schProv1"><num>2</num><content><p><mod>In Schedule 15 to the Building Societies Act 1986 (application of companies winding up legislation to building societies), after paragraph 55D insert—<quotedStructure startQuote="“" endQuote="”" uk:context="schedule" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="schedule" ukl:Format="double"><hcontainer name="crossheading" class="schGroup7"><heading>Protection of supplies</heading><paragraph class="schProv1"><num>55DA</num><content><p>Article 197B (protection of supplies of goods and services) does not apply.</p></content></paragraph></hcontainer></quotedStructure></mod></p></content></paragraph><paragraph eId="schedule-13-paragraph-3" class="schProv1"><num>3</num><content><p><mod>In Schedule 15A to the Building Societies Act 1986 (application of other companies insolvency legislation to building societies), after paragraph 52 insert—<quotedStructure startQuote="“" endQuote="”" uk:context="schedule" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="schedule" ukl:Format="double"><hcontainer name="crossheading" class="schGroup7"><heading>Protection of supplies</heading><paragraph class="schProv1"><num>52A</num><content><p>Article 197B of the Order (protection of supplies of goods and services) is omitted.</p></content></paragraph></hcontainer></quotedStructure></mod></p></content></paragraph><paragraph eId="schedule-13-paragraph-4" class="schProv1"><num>4</num><content><p><mod>In Schedule 10 to the Friendly Societies Act 1992 (application of companies winding up legislation to friendly societies), after paragraph 65 insert—<quotedStructure startQuote="“" endQuote="”" uk:context="schedule" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="schedule" ukl:Format="double"><hcontainer name="crossheading" class="schGroup7"><heading>Protection of supplies</heading><paragraph class="schProv1"><num>65A</num><content><p>Article 197B of the Order (protection of supplies of goods and services) does not apply.</p></content></paragraph></hcontainer></quotedStructure></mod></p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Amendment to subordinate legislation</heading><paragraph eId="schedule-13-paragraph-5" class="schProv1"><num>5</num><content><p>In the <ref eId="c00143" href="http://www.legislation.gov.uk/id/nisr/1995/225">Insolvent Partnerships Order (Northern Ireland) 1995 (S.R. (N.I.) 1995/225)</ref>, in article 4(3)(b), for “Article 197” substitute “Articles 197 to 197B”.</p></content></paragraph></hcontainer></part></hcontainer>
<part xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" eId="schedule-13-part-1"><num>PART 1</num><heading>Exclusions</heading><paragraph eId="schedule-13-paragraph-1" class="schProv1"><num>1</num><content><p><mod>After Schedule 2 to the Insolvency (Northern Ireland) Order 1989 insert—<quotedStructure startQuote="“" endQuote="”" uk:context="schedule" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="order" ukl:Context="schedule" ukl:Format="double"><hcontainer name="schedule"><num>SCHEDULE 2ZZA<authorialNote class="referenceNote"><p>Article 197B</p></authorialNote></num><heading>Protection of supplies under Article 197B: exclusions</heading><part><num>PART 1</num><heading>Essential supplies</heading><hcontainer name="crossheading" class="schGroup7"><heading>Essential supplies</heading><paragraph class="schProv1"><num>1</num><subparagraph><num>(1)</num><intro><p>Article 197B(3) and (4) do not apply in relation to provision of a contract if—</p></intro><level class="para1"><num>(a)</num><content><p>the company becomes subject to a relevant insolvency procedure as specified in Article 197B(2)(b) or (d), and</p></content></level><level class="para1"><num>(b)</num><content><p>the provision of the contract ceases to have effect under Article 197A(1).</p></content></level></subparagraph><subparagraph><num>(2)</num><intro><p>Article 197B(7) does not apply in relation to a supply to the company if—</p></intro><level class="para1"><num>(a)</num><content><p>the company becomes subject to a relevant insolvency procedure as specified in Article 197B(2)(b) to (f), and</p></content></level><level class="para1"><num>(b)</num><content><p>the supply is a supply mentioned in Article 197(3).</p></content></level></subparagraph></paragraph></hcontainer></part><part><num>PART 2</num><heading>Persons involved in financial services</heading><hcontainer name="crossheading" class="schGroup7"><heading>Introductory</heading><paragraph class="schProv1"><num>2</num><content><p>Article 197B does not apply in relation to a contract for the supply of goods or services to a company (“the company”) where any of paragraphs 3 to 11 applies.</p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Insurers</heading><paragraph class="schProv1"><num>3</num><subparagraph><num>(1)</num><intro><p>This paragraph applies where either the company or the supplier—</p></intro><level class="para1"><num>(a)</num><content><p>carries on the regulated activity of effecting or carrying out contracts of insurance, and</p></content></level><level class="para1"><num>(b)</num><content><p>is not an exempt person in relation to that activity.</p></content></level></subparagraph><subparagraph><num>(2)</num><intro><p>In this paragraph—</p></intro><hcontainer name="definition"><content><p>“exempt person”, in relation to a regulated activity, has the meaning given by section 417 of the Financial Services and Markets Act 2000;</p></content></hcontainer><hcontainer name="definition"><content><p>“regulated activity” has the meaning given by section 22 of that Act, taken with Schedule 2 to that Act and any order under that section.</p></content></hcontainer></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Banks</heading><paragraph class="schProv1"><num>4</num><subparagraph><num>(1)</num><intro><p>This paragraph applies where either the company or the supplier—</p></intro><level class="para1" eId="d25e34424"><num>(a)</num><content><p>has permission under Part 4A of the Financial Services and Markets Act 2000 to carry on the regulated activity of accepting deposits,</p></content></level><level class="para1"><num>(b)</num><content><p>is a banking group company within the meaning of Part 1 of the Banking Act 2009 (see section 81D of that Act), or</p></content></level><level class="para1"><num>(c)</num><content><p>has a liability in respect of a deposit which it accepted in accordance with the Banking Act 1979 or the Banking Act 1987.</p></content></level></subparagraph><subparagraph><num>(2)</num><content><p>In sub-paragraph <ref href="#d25e34424">(1)(a)</ref> “regulated activity” has the meaning given by section 22 of the Financial Services and Markets Act 2000 2000, taken with Schedule 2 to that Act and any order under that section.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Electronic money institutions</heading><paragraph eId="d25e34454" class="schProv1"><num>5</num><content><p>This paragraph applies where either the company or the supplier is an electronic money institution within the meaning of the Electronic Money Regulations 2011 (<ref eId="c00131" href="http://www.legislation.gov.uk/id/uksi/2011/99">S.I. 2011/99</ref>) (see regulation 2 of those Regulations).</p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Investment banks and investment firms</heading><paragraph eId="d25e34466" class="schProv1"><num>6</num><subparagraph><num>(1)</num><content><p>This paragraph applies where either the company or the supplier is an investment bank or an investment firm.</p></content></subparagraph><subparagraph><num>(2)</num><intro><p>In this paragraph—</p></intro><hcontainer name="definition"><intro><p>“investment bank” means a company or other entity that has permission under Part 4A of the Financial Services and Markets Act 2000 to carry on the regulated activity of—</p></intro><level class="para1"><num>(a)</num><content><p>safeguarding and administering investments,</p></content></level><level class="para1"><num>(b)</num><content><p>managing an AIF or a UCITS,</p></content></level><level class="para1"><num>(c)</num><content><p>acting as trustee or depositary of an AIF or a UCITS,</p></content></level><level class="para1"><num>(d)</num><content><p>dealing in investments as principal, or</p></content></level><level class="para1"><num>(e)</num><content><p>dealing in investments as agent;</p></content></level></hcontainer><hcontainer name="definition"><content><p>“investment firm” has the same meaning as in the Banking Act 2009 (see section 258A of that Act), disregarding any order made under section 258A(2)(b) of that Act;</p></content></hcontainer><hcontainer name="definition"><content><p>“regulated activity” has the meaning given by section 22 of the Financial Services and Markets Act 2000, taken with Schedule 2 to that Act and any order under that section.</p></content></hcontainer></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Payment institutions</heading><paragraph eId="d25e34519" class="schProv1"><num>7</num><content><p>This paragraph applies where either the company or the supplier is an authorised payment institution, a small payment institution or a registered account information service provider within the meaning of the Payment Services Regulations 2017 (<ref eId="c00132" href="http://www.legislation.gov.uk/id/uksi/2017/752">S.I. 2017/752</ref>) (see regulation 2 of those Regulations).</p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Operators of payment systems, infrastructure providers etc</heading><paragraph class="schProv1"><num>8</num><intro><p>This paragraph applies where either the company or the supplier is—</p></intro><level class="para1"><num>(a)</num><content><p>the operator of a payment system or an infrastructure provider within the meaning of Part 5 of the Financial Services (Banking Reform) Act 2013 (see section 42 of that Act), or</p></content></level><level class="para1"><num>(b)</num><content><p>an infrastructure company within the meaning of Part 6 of that Act (see section 112 of that Act).</p></content></level></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Recognised investment exchanges etc</heading><paragraph class="schProv1"><num>9</num><content><p>This paragraph applies where either the company or the supplier is a recognised investment exchange, a recognised clearing house or a recognised CSD within the meaning of the Financial Services and Markets Act 2000 (see section 285 of that Act).</p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Securitisation companies</heading><paragraph eId="d25e34561" class="schProv1"><num>10</num><content><p>This paragraph applies where either the company or the supplier is a securitisation company within the meaning of the Taxation of Securitisation Companies Regulations 2006 (<ref eId="c00133" href="http://www.legislation.gov.uk/id/uksi/2006/3296">S.I. 2006/3296</ref>) (see regulation 4 of those Regulations).</p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Overseas activities</heading><paragraph eId="d25e34574" class="schProv1"><num>11</num><content><p>This paragraph applies where either the company or the supplier does or has done anything outside the United Kingdom which, if done in the United Kingdom, would cause any of the preceding paragraphs of this Part of this Schedule to apply.</p></content></paragraph></hcontainer></part><part><num>PART 3</num><heading>Contracts involving financial services</heading><hcontainer name="crossheading" class="schGroup7"><heading>Introductory</heading><paragraph class="schProv1"><num>12</num><content><p>To the extent that anything to which any of paragraphs 13 to 18 applies is a contract for the supply of goods or services, Article 197B does not apply in relation to it.</p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Financial contracts</heading><paragraph class="schProv1"><num>13</num><subparagraph><num>(1)</num><content><p>This paragraph applies to a financial contract.</p></content></subparagraph><subparagraph><num>(2)</num><intro><p>“Financial contract” means—</p></intro><level class="para1"><num>(a)</num><intro><p>a contract for the provision of financial services consisting of—</p></intro><level class="para2"><num>(i)</num><content><p>lending (including the factoring and financing of commercial transactions),</p></content></level><level class="para2"><num>(ii)</num><content><p>financial leasing, or</p></content></level><level class="para2"><num>(iii)</num><content><p>providing guarantees or commitments;</p></content></level></level><level class="para1"><num>(b)</num><intro><p>a securities contract, including—</p></intro><level class="para2"><num>(i)</num><content><p>a contract for the purchase, sale or loan of a security or group or index of securities;</p></content></level><level class="para2"><num>(ii)</num><content><p>an option on a security or group or index of securities;</p></content></level><level class="para2"><num>(iii)</num><content><p>a repurchase or reverse repurchase transaction on any such security, group or index;</p></content></level></level><level class="para1"><num>(c)</num><intro><p>a commodities contract, including—</p></intro><level class="para2"><num>(i)</num><content><p>a contract for the purchase, sale or loan of a commodity or group or index of commodities for future delivery;</p></content></level><level class="para2"><num>(ii)</num><content><p>an option on a commodity or group or index of commodities;</p></content></level><level class="para2"><num>(iii)</num><content><p>a repurchase or reverse repurchase transaction on any such commodity, group or index;</p></content></level></level><level class="para1"><num>(d)</num><content><p>a futures or forwards contract, including a contract (other than a commodities contract) for the purchase, sale or transfer of a commodity or property of any other description, service, right or interest for a specified price at a future date;</p></content></level><level class="para1"><num>(e)</num><intro><p>a swap agreement, including—</p></intro><level class="para2"><num>(i)</num><content><p>a swap or option relating to interest rates, spot or other foreign exchange agreements, currency, an equity index or equity, a debt index or debt, commodity indexes or commodities, weather, emissions or inflation;</p></content></level><level class="para2"><num>(ii)</num><content><p>a total return, credit spread or credit swap;</p></content></level><level class="para2"><num>(iii)</num><content><p>any agreement or transaction similar to an agreement that is referred to in sub-paragraph (i) or (ii) and is the subject of recurrent dealing in the swaps or derivatives markets;</p></content></level></level><level class="para1"><num>(f)</num><content><p>an inter-bank borrowing agreement where the term of the borrowing is three months or less;</p></content></level><level class="para1"><num>(g)</num><content><p>a master agreement for any of the contracts or agreements referred to in paragraphs (a) to (f).</p></content></level></subparagraph><subparagraph><num>(3)</num><intro><p>For the purposes of this paragraph “commodities” includes—</p></intro><level class="para1"><num>(a)</num><content><p>units recognised for compliance with the requirements of <ref eId="c00134" href="http://www.legislation.gov.uk/european/directive/2003/0087">EU Directive 2003/87/EC</ref> establishing a scheme for greenhouse gas emission allowance trading,</p></content></level><level class="para1"><num>(b)</num><content><p>allowances under paragraph 5 of Schedule 2 to the Climate Change Act 2008 relating to a trading scheme dealt with under Part 1 of that Schedule (schemes limiting activities relating to emissions of greenhouse gas), and</p></content></level><level class="para1"><num>(c)</num><intro><p>renewables obligation certificates issued—</p></intro><level class="para2"><num>(i)</num><content><p>by the Gas and Electricity Markets Authority under an order made under section 32B of the Electricity Act 1989, or</p></content></level><level class="para2"><num>(ii)</num><content><p>by the Northern Ireland Authority for Utility Regulation under the Energy (Northern Ireland) Order 2003 (<ref eId="c00135" href="http://www.legislation.gov.uk/id/nisi/2003/419">S.I. 2003/419 (N.I. 6)</ref>) and pursuant to an order made under Articles 52 to 55F of that Order.</p></content></level></level></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Securities financing transactions</heading><paragraph class="schProv1"><num>14</num><subparagraph><num>(1)</num><intro><p>This paragraph applies to—</p></intro><level class="para1"><num>(a)</num><content><p>a securities financing transaction, and</p></content></level><level class="para1"><num>(b)</num><content><p>a master agreement for securities financing transactions.</p></content></level></subparagraph><subparagraph><num>(2)</num><content><p>“Securities financing transaction” has the meaning given by Article 3(11) of <ref eId="c00136" href="http://www.legislation.gov.uk/european/regulation/2015/2365">Regulation (EU) 2015/2365</ref> on the transparency of securities financing transactions.</p></content></subparagraph><subparagraph><num>(3)</num><content><p>But for the purposes of that Article as it applies for the purposes of this paragraph, references to “commodities” in that Regulation are to be taken as including the units, allowances and certificates referred to in paragraph 13(3)(a) to (c).</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Derivatives</heading><paragraph class="schProv1"><num>15</num><subparagraph><num>(1)</num><intro><p>This paragraph applies to—</p></intro><level class="para1"><num>(a)</num><content><p>a derivative, and</p></content></level><level class="para1"><num>(b)</num><content><p>a master agreement for derivatives.</p></content></level></subparagraph><subparagraph><num>(2)</num><content><p>“Derivative” has the meaning given by Article 2(5) of <ref eId="c00137" href="http://www.legislation.gov.uk/european/regulation/2012/0648">Regulation (EU) No. 648/2012</ref>.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Spot contracts</heading><paragraph class="schProv1"><num>16</num><subparagraph><num>(1)</num><intro><p>This paragraph applies to—</p></intro><level class="para1"><num>(a)</num><content><p>a spot contract, and</p></content></level><level class="para1"><num>(b)</num><content><p>a master agreement for spot contracts.</p></content></level></subparagraph><subparagraph><num>(2)</num><content><p>“Spot contract” has the meaning given by Article 7(2) or 10(2) of Commission Delegated Regulation of 25.4.2016 supplementing <ref eId="c00138" href="http://www.legislation.gov.uk/european/directive/2014/0065">Directive 2014/65/EU</ref> of the European Parliament and of the Council as regards organisational requirements and operating conditions for investment firms and defined terms for the purposes of that Directive.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Capital market investments</heading><paragraph class="schProv1"><num>17</num><subparagraph><num>(1)</num><content><p>This paragraph applies to an agreement which is, or forms part of, an arrangement involving the issue of a capital market investment.</p></content></subparagraph><subparagraph><num>(2)</num><content><p>“Capital market investment” has the meaning given by paragraph 14 of Schedule ZA1.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Contracts forming part of a public-private partnership</heading><paragraph class="schProv1"><num>18</num><content><p>This paragraph applies to a contract forming part of a public-private partnership project within the meaning given by paragraph 16 of Schedule ZA1.</p></content></paragraph></hcontainer></part><part><num>PART 4</num><heading>Other exclusions</heading><hcontainer name="crossheading" class="schGroup7"><heading>Financial markets and insolvency</heading><paragraph class="schProv1"><num>19</num><intro><p>Nothing in Article 197B affects the operation of—</p></intro><level class="para1"><num>(a)</num><content><p>Part 5 of the Companies (No. 2) (Northern Ireland) Order 1990 (financial markets and insolvency),</p></content></level><level class="para1"><num>(b)</num><content><p>the Financial Markets and Insolvency Regulations (Northern Ireland) 1996 (<ref eId="c00139" href="http://www.legislation.gov.uk/id/nisr/1996/252">S.R. 1996/252</ref>),</p></content></level><level class="para1"><num>(c)</num><content><p>the Financial Markets and Insolvency (Settlement Finality) Regulations 1999 (<ref eId="c00140" href="http://www.legislation.gov.uk/id/uksi/1999/2979">S.I. 1999/2979</ref>), or</p></content></level><level class="para1"><num>(d)</num><content><p>the Financial Collateral Arrangements (No.2) Regulations 2003 (<ref eId="c00141" href="http://www.legislation.gov.uk/id/uksi/2003/3226">S.I. 2003/3226</ref>).</p></content></level></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Set-off and netting</heading><paragraph class="schProv1"><num>20</num><content><p>Nothing in Article 197B affects any set-off or netting arrangements (within the meanings given by section 48(1)(c) and (d) of the Banking Act 2009).</p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Aircraft equipment</heading><paragraph class="schProv1"><num>21</num><content><p>Nothing in Article 197B affects the International Interests in Aircraft Equipment (Cape Town Convention) Regulations 2015 (<ref eId="c00142" href="http://www.legislation.gov.uk/id/uksi/2015/912">S.I. 2015/912</ref>).</p></content></paragraph></hcontainer></part></hcontainer></quotedStructure></mod></p></content></paragraph></part>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" eId="schedule-13-paragraph-1" class="schProv1"><num>1</num><content><p><mod>After Schedule 2 to the Insolvency (Northern Ireland) Order 1989 insert—<quotedStructure startQuote="“" endQuote="”" uk:context="schedule" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="order" ukl:Context="schedule" ukl:Format="double"><hcontainer name="schedule"><num>SCHEDULE 2ZZA<authorialNote class="referenceNote"><p>Article 197B</p></authorialNote></num><heading>Protection of supplies under Article 197B: exclusions</heading><part><num>PART 1</num><heading>Essential supplies</heading><hcontainer name="crossheading" class="schGroup7"><heading>Essential supplies</heading><paragraph class="schProv1"><num>1</num><subparagraph><num>(1)</num><intro><p>Article 197B(3) and (4) do not apply in relation to provision of a contract if—</p></intro><level class="para1"><num>(a)</num><content><p>the company becomes subject to a relevant insolvency procedure as specified in Article 197B(2)(b) or (d), and</p></content></level><level class="para1"><num>(b)</num><content><p>the provision of the contract ceases to have effect under Article 197A(1).</p></content></level></subparagraph><subparagraph><num>(2)</num><intro><p>Article 197B(7) does not apply in relation to a supply to the company if—</p></intro><level class="para1"><num>(a)</num><content><p>the company becomes subject to a relevant insolvency procedure as specified in Article 197B(2)(b) to (f), and</p></content></level><level class="para1"><num>(b)</num><content><p>the supply is a supply mentioned in Article 197(3).</p></content></level></subparagraph></paragraph></hcontainer></part><part><num>PART 2</num><heading>Persons involved in financial services</heading><hcontainer name="crossheading" class="schGroup7"><heading>Introductory</heading><paragraph class="schProv1"><num>2</num><content><p>Article 197B does not apply in relation to a contract for the supply of goods or services to a company (“the company”) where any of paragraphs 3 to 11 applies.</p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Insurers</heading><paragraph class="schProv1"><num>3</num><subparagraph><num>(1)</num><intro><p>This paragraph applies where either the company or the supplier—</p></intro><level class="para1"><num>(a)</num><content><p>carries on the regulated activity of effecting or carrying out contracts of insurance, and</p></content></level><level class="para1"><num>(b)</num><content><p>is not an exempt person in relation to that activity.</p></content></level></subparagraph><subparagraph><num>(2)</num><intro><p>In this paragraph—</p></intro><hcontainer name="definition"><content><p>“exempt person”, in relation to a regulated activity, has the meaning given by section 417 of the Financial Services and Markets Act 2000;</p></content></hcontainer><hcontainer name="definition"><content><p>“regulated activity” has the meaning given by section 22 of that Act, taken with Schedule 2 to that Act and any order under that section.</p></content></hcontainer></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Banks</heading><paragraph class="schProv1"><num>4</num><subparagraph><num>(1)</num><intro><p>This paragraph applies where either the company or the supplier—</p></intro><level class="para1" eId="d25e34424"><num>(a)</num><content><p>has permission under Part 4A of the Financial Services and Markets Act 2000 to carry on the regulated activity of accepting deposits,</p></content></level><level class="para1"><num>(b)</num><content><p>is a banking group company within the meaning of Part 1 of the Banking Act 2009 (see section 81D of that Act), or</p></content></level><level class="para1"><num>(c)</num><content><p>has a liability in respect of a deposit which it accepted in accordance with the Banking Act 1979 or the Banking Act 1987.</p></content></level></subparagraph><subparagraph><num>(2)</num><content><p>In sub-paragraph <ref href="#d25e34424">(1)(a)</ref> “regulated activity” has the meaning given by section 22 of the Financial Services and Markets Act 2000 2000, taken with Schedule 2 to that Act and any order under that section.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Electronic money institutions</heading><paragraph eId="d25e34454" class="schProv1"><num>5</num><content><p>This paragraph applies where either the company or the supplier is an electronic money institution within the meaning of the Electronic Money Regulations 2011 (<ref eId="c00131" href="http://www.legislation.gov.uk/id/uksi/2011/99">S.I. 2011/99</ref>) (see regulation 2 of those Regulations).</p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Investment banks and investment firms</heading><paragraph eId="d25e34466" class="schProv1"><num>6</num><subparagraph><num>(1)</num><content><p>This paragraph applies where either the company or the supplier is an investment bank or an investment firm.</p></content></subparagraph><subparagraph><num>(2)</num><intro><p>In this paragraph—</p></intro><hcontainer name="definition"><intro><p>“investment bank” means a company or other entity that has permission under Part 4A of the Financial Services and Markets Act 2000 to carry on the regulated activity of—</p></intro><level class="para1"><num>(a)</num><content><p>safeguarding and administering investments,</p></content></level><level class="para1"><num>(b)</num><content><p>managing an AIF or a UCITS,</p></content></level><level class="para1"><num>(c)</num><content><p>acting as trustee or depositary of an AIF or a UCITS,</p></content></level><level class="para1"><num>(d)</num><content><p>dealing in investments as principal, or</p></content></level><level class="para1"><num>(e)</num><content><p>dealing in investments as agent;</p></content></level></hcontainer><hcontainer name="definition"><content><p>“investment firm” has the same meaning as in the Banking Act 2009 (see section 258A of that Act), disregarding any order made under section 258A(2)(b) of that Act;</p></content></hcontainer><hcontainer name="definition"><content><p>“regulated activity” has the meaning given by section 22 of the Financial Services and Markets Act 2000, taken with Schedule 2 to that Act and any order under that section.</p></content></hcontainer></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Payment institutions</heading><paragraph eId="d25e34519" class="schProv1"><num>7</num><content><p>This paragraph applies where either the company or the supplier is an authorised payment institution, a small payment institution or a registered account information service provider within the meaning of the Payment Services Regulations 2017 (<ref eId="c00132" href="http://www.legislation.gov.uk/id/uksi/2017/752">S.I. 2017/752</ref>) (see regulation 2 of those Regulations).</p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Operators of payment systems, infrastructure providers etc</heading><paragraph class="schProv1"><num>8</num><intro><p>This paragraph applies where either the company or the supplier is—</p></intro><level class="para1"><num>(a)</num><content><p>the operator of a payment system or an infrastructure provider within the meaning of Part 5 of the Financial Services (Banking Reform) Act 2013 (see section 42 of that Act), or</p></content></level><level class="para1"><num>(b)</num><content><p>an infrastructure company within the meaning of Part 6 of that Act (see section 112 of that Act).</p></content></level></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Recognised investment exchanges etc</heading><paragraph class="schProv1"><num>9</num><content><p>This paragraph applies where either the company or the supplier is a recognised investment exchange, a recognised clearing house or a recognised CSD within the meaning of the Financial Services and Markets Act 2000 (see section 285 of that Act).</p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Securitisation companies</heading><paragraph eId="d25e34561" class="schProv1"><num>10</num><content><p>This paragraph applies where either the company or the supplier is a securitisation company within the meaning of the Taxation of Securitisation Companies Regulations 2006 (<ref eId="c00133" href="http://www.legislation.gov.uk/id/uksi/2006/3296">S.I. 2006/3296</ref>) (see regulation 4 of those Regulations).</p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Overseas activities</heading><paragraph eId="d25e34574" class="schProv1"><num>11</num><content><p>This paragraph applies where either the company or the supplier does or has done anything outside the United Kingdom which, if done in the United Kingdom, would cause any of the preceding paragraphs of this Part of this Schedule to apply.</p></content></paragraph></hcontainer></part><part><num>PART 3</num><heading>Contracts involving financial services</heading><hcontainer name="crossheading" class="schGroup7"><heading>Introductory</heading><paragraph class="schProv1"><num>12</num><content><p>To the extent that anything to which any of paragraphs 13 to 18 applies is a contract for the supply of goods or services, Article 197B does not apply in relation to it.</p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Financial contracts</heading><paragraph class="schProv1"><num>13</num><subparagraph><num>(1)</num><content><p>This paragraph applies to a financial contract.</p></content></subparagraph><subparagraph><num>(2)</num><intro><p>“Financial contract” means—</p></intro><level class="para1"><num>(a)</num><intro><p>a contract for the provision of financial services consisting of—</p></intro><level class="para2"><num>(i)</num><content><p>lending (including the factoring and financing of commercial transactions),</p></content></level><level class="para2"><num>(ii)</num><content><p>financial leasing, or</p></content></level><level class="para2"><num>(iii)</num><content><p>providing guarantees or commitments;</p></content></level></level><level class="para1"><num>(b)</num><intro><p>a securities contract, including—</p></intro><level class="para2"><num>(i)</num><content><p>a contract for the purchase, sale or loan of a security or group or index of securities;</p></content></level><level class="para2"><num>(ii)</num><content><p>an option on a security or group or index of securities;</p></content></level><level class="para2"><num>(iii)</num><content><p>a repurchase or reverse repurchase transaction on any such security, group or index;</p></content></level></level><level class="para1"><num>(c)</num><intro><p>a commodities contract, including—</p></intro><level class="para2"><num>(i)</num><content><p>a contract for the purchase, sale or loan of a commodity or group or index of commodities for future delivery;</p></content></level><level class="para2"><num>(ii)</num><content><p>an option on a commodity or group or index of commodities;</p></content></level><level class="para2"><num>(iii)</num><content><p>a repurchase or reverse repurchase transaction on any such commodity, group or index;</p></content></level></level><level class="para1"><num>(d)</num><content><p>a futures or forwards contract, including a contract (other than a commodities contract) for the purchase, sale or transfer of a commodity or property of any other description, service, right or interest for a specified price at a future date;</p></content></level><level class="para1"><num>(e)</num><intro><p>a swap agreement, including—</p></intro><level class="para2"><num>(i)</num><content><p>a swap or option relating to interest rates, spot or other foreign exchange agreements, currency, an equity index or equity, a debt index or debt, commodity indexes or commodities, weather, emissions or inflation;</p></content></level><level class="para2"><num>(ii)</num><content><p>a total return, credit spread or credit swap;</p></content></level><level class="para2"><num>(iii)</num><content><p>any agreement or transaction similar to an agreement that is referred to in sub-paragraph (i) or (ii) and is the subject of recurrent dealing in the swaps or derivatives markets;</p></content></level></level><level class="para1"><num>(f)</num><content><p>an inter-bank borrowing agreement where the term of the borrowing is three months or less;</p></content></level><level class="para1"><num>(g)</num><content><p>a master agreement for any of the contracts or agreements referred to in paragraphs (a) to (f).</p></content></level></subparagraph><subparagraph><num>(3)</num><intro><p>For the purposes of this paragraph “commodities” includes—</p></intro><level class="para1"><num>(a)</num><content><p>units recognised for compliance with the requirements of <ref eId="c00134" href="http://www.legislation.gov.uk/european/directive/2003/0087">EU Directive 2003/87/EC</ref> establishing a scheme for greenhouse gas emission allowance trading,</p></content></level><level class="para1"><num>(b)</num><content><p>allowances under paragraph 5 of Schedule 2 to the Climate Change Act 2008 relating to a trading scheme dealt with under Part 1 of that Schedule (schemes limiting activities relating to emissions of greenhouse gas), and</p></content></level><level class="para1"><num>(c)</num><intro><p>renewables obligation certificates issued—</p></intro><level class="para2"><num>(i)</num><content><p>by the Gas and Electricity Markets Authority under an order made under section 32B of the Electricity Act 1989, or</p></content></level><level class="para2"><num>(ii)</num><content><p>by the Northern Ireland Authority for Utility Regulation under the Energy (Northern Ireland) Order 2003 (<ref eId="c00135" href="http://www.legislation.gov.uk/id/nisi/2003/419">S.I. 2003/419 (N.I. 6)</ref>) and pursuant to an order made under Articles 52 to 55F of that Order.</p></content></level></level></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Securities financing transactions</heading><paragraph class="schProv1"><num>14</num><subparagraph><num>(1)</num><intro><p>This paragraph applies to—</p></intro><level class="para1"><num>(a)</num><content><p>a securities financing transaction, and</p></content></level><level class="para1"><num>(b)</num><content><p>a master agreement for securities financing transactions.</p></content></level></subparagraph><subparagraph><num>(2)</num><content><p>“Securities financing transaction” has the meaning given by Article 3(11) of <ref eId="c00136" href="http://www.legislation.gov.uk/european/regulation/2015/2365">Regulation (EU) 2015/2365</ref> on the transparency of securities financing transactions.</p></content></subparagraph><subparagraph><num>(3)</num><content><p>But for the purposes of that Article as it applies for the purposes of this paragraph, references to “commodities” in that Regulation are to be taken as including the units, allowances and certificates referred to in paragraph 13(3)(a) to (c).</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Derivatives</heading><paragraph class="schProv1"><num>15</num><subparagraph><num>(1)</num><intro><p>This paragraph applies to—</p></intro><level class="para1"><num>(a)</num><content><p>a derivative, and</p></content></level><level class="para1"><num>(b)</num><content><p>a master agreement for derivatives.</p></content></level></subparagraph><subparagraph><num>(2)</num><content><p>“Derivative” has the meaning given by Article 2(5) of <ref eId="c00137" href="http://www.legislation.gov.uk/european/regulation/2012/0648">Regulation (EU) No. 648/2012</ref>.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Spot contracts</heading><paragraph class="schProv1"><num>16</num><subparagraph><num>(1)</num><intro><p>This paragraph applies to—</p></intro><level class="para1"><num>(a)</num><content><p>a spot contract, and</p></content></level><level class="para1"><num>(b)</num><content><p>a master agreement for spot contracts.</p></content></level></subparagraph><subparagraph><num>(2)</num><content><p>“Spot contract” has the meaning given by Article 7(2) or 10(2) of Commission Delegated Regulation of 25.4.2016 supplementing <ref eId="c00138" href="http://www.legislation.gov.uk/european/directive/2014/0065">Directive 2014/65/EU</ref> of the European Parliament and of the Council as regards organisational requirements and operating conditions for investment firms and defined terms for the purposes of that Directive.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Capital market investments</heading><paragraph class="schProv1"><num>17</num><subparagraph><num>(1)</num><content><p>This paragraph applies to an agreement which is, or forms part of, an arrangement involving the issue of a capital market investment.</p></content></subparagraph><subparagraph><num>(2)</num><content><p>“Capital market investment” has the meaning given by paragraph 14 of Schedule ZA1.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Contracts forming part of a public-private partnership</heading><paragraph class="schProv1"><num>18</num><content><p>This paragraph applies to a contract forming part of a public-private partnership project within the meaning given by paragraph 16 of Schedule ZA1.</p></content></paragraph></hcontainer></part><part><num>PART 4</num><heading>Other exclusions</heading><hcontainer name="crossheading" class="schGroup7"><heading>Financial markets and insolvency</heading><paragraph class="schProv1"><num>19</num><intro><p>Nothing in Article 197B affects the operation of—</p></intro><level class="para1"><num>(a)</num><content><p>Part 5 of the Companies (No. 2) (Northern Ireland) Order 1990 (financial markets and insolvency),</p></content></level><level class="para1"><num>(b)</num><content><p>the Financial Markets and Insolvency Regulations (Northern Ireland) 1996 (<ref eId="c00139" href="http://www.legislation.gov.uk/id/nisr/1996/252">S.R. 1996/252</ref>),</p></content></level><level class="para1"><num>(c)</num><content><p>the Financial Markets and Insolvency (Settlement Finality) Regulations 1999 (<ref eId="c00140" href="http://www.legislation.gov.uk/id/uksi/1999/2979">S.I. 1999/2979</ref>), or</p></content></level><level class="para1"><num>(d)</num><content><p>the Financial Collateral Arrangements (No.2) Regulations 2003 (<ref eId="c00141" href="http://www.legislation.gov.uk/id/uksi/2003/3226">S.I. 2003/3226</ref>).</p></content></level></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Set-off and netting</heading><paragraph class="schProv1"><num>20</num><content><p>Nothing in Article 197B affects any set-off or netting arrangements (within the meanings given by section 48(1)(c) and (d) of the Banking Act 2009).</p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Aircraft equipment</heading><paragraph class="schProv1"><num>21</num><content><p>Nothing in Article 197B affects the International Interests in Aircraft Equipment (Cape Town Convention) Regulations 2015 (<ref eId="c00142" href="http://www.legislation.gov.uk/id/uksi/2015/912">S.I. 2015/912</ref>).</p></content></paragraph></hcontainer></part></hcontainer></quotedStructure></mod></p></content></paragraph>
<part xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" eId="schedule-13-part-2"><num>PART 2</num><heading>Consequential amendments</heading><hcontainer name="crossheading" class="schGroup7"><heading>Amendments to Acts</heading><paragraph eId="schedule-13-paragraph-2" class="schProv1"><num>2</num><content><p><mod>In Schedule 15 to the Building Societies Act 1986 (application of companies winding up legislation to building societies), after paragraph 55D insert—<quotedStructure startQuote="“" endQuote="”" uk:context="schedule" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="schedule" ukl:Format="double"><hcontainer name="crossheading" class="schGroup7"><heading>Protection of supplies</heading><paragraph class="schProv1"><num>55DA</num><content><p>Article 197B (protection of supplies of goods and services) does not apply.</p></content></paragraph></hcontainer></quotedStructure></mod></p></content></paragraph><paragraph eId="schedule-13-paragraph-3" class="schProv1"><num>3</num><content><p><mod>In Schedule 15A to the Building Societies Act 1986 (application of other companies insolvency legislation to building societies), after paragraph 52 insert—<quotedStructure startQuote="“" endQuote="”" uk:context="schedule" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="schedule" ukl:Format="double"><hcontainer name="crossheading" class="schGroup7"><heading>Protection of supplies</heading><paragraph class="schProv1"><num>52A</num><content><p>Article 197B of the Order (protection of supplies of goods and services) is omitted.</p></content></paragraph></hcontainer></quotedStructure></mod></p></content></paragraph><paragraph eId="schedule-13-paragraph-4" class="schProv1"><num>4</num><content><p><mod>In Schedule 10 to the Friendly Societies Act 1992 (application of companies winding up legislation to friendly societies), after paragraph 65 insert—<quotedStructure startQuote="“" endQuote="”" uk:context="schedule" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="schedule" ukl:Format="double"><hcontainer name="crossheading" class="schGroup7"><heading>Protection of supplies</heading><paragraph class="schProv1"><num>65A</num><content><p>Article 197B of the Order (protection of supplies of goods and services) does not apply.</p></content></paragraph></hcontainer></quotedStructure></mod></p></content></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Amendment to subordinate legislation</heading><paragraph eId="schedule-13-paragraph-5" class="schProv1"><num>5</num><content><p>In the <ref eId="c00143" href="http://www.legislation.gov.uk/id/nisr/1995/225">Insolvent Partnerships Order (Northern Ireland) 1995 (S.R. (N.I.) 1995/225)</ref>, in article 4(3)(b), for “Article 197” substitute “Articles 197 to 197B”.</p></content></paragraph></hcontainer></part>
<hcontainer xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" name="schedule" eId="schedule-14"><num>SCHEDULE 14<authorialNote class="referenceNote"><p>Section 37</p></authorialNote></num><heading>Meetings of companies and other bodies</heading><hcontainer name="crossheading" class="schGroup7"><heading>Meaning of “qualifying body”</heading><paragraph eId="schedule-14-paragraph-1" class="schProv1"><num>1</num><intro><p>In this Schedule “qualifying body” means—</p></intro><level class="para1" eId="schedule-14-paragraph-1-a"><num>(a)</num><content><p>a registered society within the meaning of the <ref eId="c00144" href="http://www.legislation.gov.uk/id/apni/1969/24">Co-operative and Community Benefit Societies Act (Northern Ireland) 1969 (c. 24 (N.I.))</ref>,</p></content></level><level class="para1" eId="schedule-14-paragraph-1-b"><num>(b)</num><content><p>a credit union within the meaning of the Credit Unions (Northern Ireland) Order 1985 (<ref eId="c00145" href="http://www.legislation.gov.uk/id/nisi/1985/1205">S.I. 1985/1205 (N.I. 12)</ref>),</p></content></level><level class="para1" eId="schedule-14-paragraph-1-c"><num>(c)</num><content><p>a building society within the meaning of the Building Societies Act 1986,</p></content></level><level class="para1" eId="schedule-14-paragraph-1-d"><num>(d)</num><content><p>a society that is registered within the meaning of the Friendly Societies Act 1974 or incorporated under the Friendly Societies Act 1992,</p></content></level><level class="para1" eId="schedule-14-paragraph-1-e"><num>(e)</num><content><p>a registered branch within the meaning of the Friendly Societies Act 1992,</p></content></level><level class="para1" eId="schedule-14-paragraph-1-f"><num>(f)</num><content><p>a Scottish charitable incorporated organisation within the meaning of Chapter 7 of Part 1 of the Charities and Trustee Investment (Scotland) Act <ref eId="c00146" href="http://www.legislation.gov.uk/id/asp/2005/10">2005 (asp 10)</ref>,</p></content></level><level class="para1" eId="schedule-14-paragraph-1-g"><num>(g)</num><content><p>a company within the meaning of section 1(1) of the Companies Act 2006,</p></content></level><level class="para1" eId="schedule-14-paragraph-1-h"><num>(h)</num><content><p>a charitable incorporated organisation within the meaning of Part 11 of the Charities Act 2011, and</p></content></level><level class="para1" eId="schedule-14-paragraph-1-i"><num>(i)</num><content><p>a registered society within the meaning of the Co-operative and Community Benefit Societies Act 2014.</p></content></level></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Meaning of “relevant period”</heading><paragraph eId="schedule-14-paragraph-2" class="schProv1"><num>2</num><subparagraph eId="schedule-14-paragraph-2-1"><num>(1)</num><intro><p>In this Schedule the “relevant period” means the period which—</p></intro><level class="para1" eId="schedule-14-paragraph-2-1-a"><num>(a)</num><content><p>begins with 26 March 2020, and</p></content></level><level class="para1" eId="schedule-14-paragraph-2-1-b"><num>(b)</num><content><p>ends with 30 September 2020.</p></content></level></subparagraph><subparagraph eId="schedule-14-paragraph-2-2"><num>(2)</num><intro><p>The appropriate national authority may by regulations substitute for the date for the time being specified in sub-paragraph (1)(b)—</p></intro><level class="para1" eId="schedule-14-paragraph-2-2-a"><num>(a)</num><content><p>an earlier date, or</p></content></level><level class="para1" eId="schedule-14-paragraph-2-2-b"><num>(b)</num><content><p>a later date that is not more than three months after the date for the time being so specified and is not later than 5 April 2021.</p></content></level></subparagraph><subparagraph eId="schedule-14-paragraph-2-3"><num>(3)</num><content><p>Regulations under sub-paragraph (2) may make consequential or transitional provision or savings.</p></content></subparagraph><subparagraph eId="schedule-14-paragraph-2-4"><num>(4)</num><intro><p>In sub-paragraph (2) “the appropriate national authority” means—</p></intro><level class="para1" eId="schedule-14-paragraph-2-4-a"><num>(a)</num><content><p>in relation to a qualifying body within paragraph 1(c), (d), (e), (g), (h), or (i), the Secretary of State,</p></content></level><level class="para1" eId="schedule-14-paragraph-2-4-b"><num>(b)</num><content><p>in relation to a qualifying body within paragraph 1(f), the Scottish Ministers, and</p></content></level><level class="para1" eId="schedule-14-paragraph-2-4-c"><num>(c)</num><content><p>in relation to a qualifying body within paragraph 1(a) or (b), the Department for the Economy in Northern Ireland.</p></content></level></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Meetings of qualifying bodies held during the relevant period</heading><paragraph eId="schedule-14-paragraph-3" class="schProv1"><num>3</num><subparagraph eId="schedule-14-paragraph-3-1"><num>(1)</num><content><p>This paragraph applies to a meeting within sub-paragraph (2) that is held during the relevant period.</p></content></subparagraph><subparagraph eId="schedule-14-paragraph-3-2"><num>(2)</num><intro><p>A meeting is within this sub-paragraph if it is—</p></intro><level class="para1" eId="schedule-14-paragraph-3-2-a"><num>(a)</num><content><p>a general meeting of a qualifying body,</p></content></level><level class="para1" eId="schedule-14-paragraph-3-2-b"><num>(b)</num><content><p>a meeting of any class of members of a qualifying body, or</p></content></level><level class="para1" eId="schedule-14-paragraph-3-2-c"><num>(c)</num><content><p>a meeting of delegates appointed by members of a qualifying body.</p></content></level></subparagraph><subparagraph eId="schedule-14-paragraph-3-3"><num>(3)</num><content><p>The meeting need not be held at any particular place.</p></content></subparagraph><subparagraph eId="schedule-14-paragraph-3-4"><num>(4)</num><content><p>The meeting may be held, and any votes may be permitted to be cast, by electronic means or any other means.</p></content></subparagraph><subparagraph eId="schedule-14-paragraph-3-5"><num>(5)</num><content><p>The meeting may be held without any number of those participating in the meeting being together at the same place.</p></content></subparagraph><subparagraph eId="schedule-14-paragraph-3-6"><num>(6)</num><intro><p>A member of the qualifying body does not have a right—</p></intro><level class="para1" eId="schedule-14-paragraph-3-6-a"><num>(a)</num><content><p>to attend the meeting in person,</p></content></level><level class="para1" eId="schedule-14-paragraph-3-6-b"><num>(b)</num><content><p>to participate in the meeting other than by voting, or</p></content></level><level class="para1" eId="schedule-14-paragraph-3-6-c"><num>(c)</num><content><p>to vote by particular means.</p></content></level></subparagraph><subparagraph eId="schedule-14-paragraph-3-7"><num>(7)</num><content><p>The provisions of any enactment relating to meetings within sub-paragraph (2) have effect subject to this paragraph.</p></content></subparagraph><subparagraph eId="schedule-14-paragraph-3-8"><num>(8)</num><content><p>The provisions of the constitution or rules of the qualifying body have effect subject to this paragraph.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Meetings of qualifying bodies held during the relevant period: power to make further provision</heading><paragraph eId="schedule-14-paragraph-4" class="schProv1"><num>4</num><subparagraph eId="schedule-14-paragraph-4-1"><num>(1)</num><content><p>The appropriate national authority may by regulations make provision for the purposes of, or in connection with, paragraph 3.</p></content></subparagraph><subparagraph eId="schedule-14-paragraph-4-2"><num>(2)</num><content><p>The appropriate national authority may by regulations make provision about the means by which, the form in which, and the period within which, any notice or other document relating to a meeting to which paragraph 3 applies or is expected to apply may be given or made available.</p></content></subparagraph><subparagraph eId="schedule-14-paragraph-4-3"><num>(3)</num><intro><p>Regulations under this paragraph may—</p></intro><level class="para1" eId="schedule-14-paragraph-4-3-a"><num>(a)</num><content><p>disapply or modify provisions of an enactment relating to meetings within paragraph 3(2);</p></content></level><level class="para1" eId="schedule-14-paragraph-4-3-b"><num>(b)</num><content><p>disapply or modify provisions of the constitution or rules of a qualifying body;</p></content></level><level class="para1" eId="schedule-14-paragraph-4-3-c"><num>(c)</num><content><p>make different provision for different purposes;</p></content></level><level class="para1" eId="schedule-14-paragraph-4-3-d"><num>(d)</num><content><p>make consequential, incidental or supplementary provision (including provision disapplying or modifying a provision of an enactment);</p></content></level><level class="para1" eId="schedule-14-paragraph-4-3-e"><num>(e)</num><content><p>make transitional provision or savings.</p></content></level></subparagraph><subparagraph eId="schedule-14-paragraph-4-4"><num>(4)</num><intro><p>In this paragraph “the appropriate national authority” means—</p></intro><level class="para1" eId="schedule-14-paragraph-4-4-a"><num>(a)</num><content><p>in relation to qualifying bodies within paragraph 1(g) or (h), the Secretary of State,</p></content></level><level class="para1" eId="schedule-14-paragraph-4-4-b"><num>(b)</num><content><p>in relation to qualifying bodies within paragraph 1(c), (d), (e) or (i), the Treasury,</p></content></level><level class="para1" eId="schedule-14-paragraph-4-4-c"><num>(c)</num><content><p>in relation to qualifying bodies within paragraph 1(f), the Scottish Ministers, and</p></content></level><level class="para1" eId="schedule-14-paragraph-4-4-d"><num>(d)</num><content><p>in relation to qualifying bodies within paragraph 1(a) or (b), the Department for the Economy in Northern Ireland.</p></content></level></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Extension of period for qualifying body to hold annual general meeting</heading><paragraph eId="schedule-14-paragraph-5" class="schProv1"><num>5</num><subparagraph eId="schedule-14-paragraph-5-1"><num>(1)</num><content><p>This paragraph applies where by reason of any provision a qualifying body is or was under a duty to hold a general meeting as its annual general meeting during a period (“the due period”) that ends during the relevant period.</p></content></subparagraph><subparagraph eId="schedule-14-paragraph-5-2"><num>(2)</num><content><p>The provision is to be read as if it imposes (and had always imposed) a duty on the qualifying body to hold a general meeting as its annual general meeting during the period that begins with the due period and ends with the relevant period (but this is subject to regulations under paragraph 6).</p></content></subparagraph><subparagraph eId="schedule-14-paragraph-5-3"><num>(3)</num><content><p>If by reason of regulations made under paragraph 2 the relevant period is a period that ends after 30 September 2020 this paragraph has effect as if the relevant period were a period that ends with 30 September 2020.</p></content></subparagraph><subparagraph eId="schedule-14-paragraph-5-4"><num>(4)</num><content><p>In this paragraph a reference to “any provision” is a reference to any provision of an enactment or of the constitution or rules of the qualifying body.</p></content></subparagraph><subparagraph eId="schedule-14-paragraph-5-5"><num>(5)</num><content><p>In the application of this paragraph in relation to a public company, the references to a duty to hold a general meeting as its annual general meeting are to be read as including a reference to a duty to hold an accounts meeting.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Power to extend period for qualifying body to hold annual general meeting</heading><paragraph eId="schedule-14-paragraph-6" class="schProv1"><num>6</num><subparagraph eId="schedule-14-paragraph-6-1"><num>(1)</num><content><p>The appropriate national authority may by regulations provide for any provision that would (but for the regulations) have the effect mentioned in sub-paragraph (2) to be read as if instead it had (and always had had) the effect mentioned in sub-paragraph (3).</p></content></subparagraph><subparagraph eId="schedule-14-paragraph-6-2"><num>(2)</num><content><p>The effect is that of imposing on a qualifying body a duty to hold a general meeting as its annual general meeting during a period (“the overlapping period”) that overlaps to any extent with the relevant period.</p></content></subparagraph><subparagraph eId="schedule-14-paragraph-6-3"><num>(3)</num><intro><p>The effect is that of imposing on the qualifying body a duty to hold a general meeting as its annual general meeting during a period that—</p></intro><level class="para1" eId="schedule-14-paragraph-6-3-a"><num>(a)</num><content><p>begins with the overlapping period, and</p></content></level><level class="para1" eId="schedule-14-paragraph-6-3-b"><num>(b)</num><content><p>ends with such period immediately following the end of the overlapping period as is specified in the regulations.</p></content></level></subparagraph><subparagraph eId="schedule-14-paragraph-6-4"><num>(4)</num><content><p>A period specified in regulations for the purposes of sub-paragraph (3)(b) must not exceed 8 months.</p></content></subparagraph><subparagraph eId="schedule-14-paragraph-6-5"><num>(5)</num><intro><p>Regulations under this paragraph may—</p></intro><level class="para1" eId="schedule-14-paragraph-6-5-a"><num>(a)</num><content><p>make different provision for different purposes;</p></content></level><level class="para1" eId="schedule-14-paragraph-6-5-b"><num>(b)</num><content><p>make consequential, incidental or supplementary provision (including provision disapplying or modifying a provision of an enactment);</p></content></level><level class="para1" eId="schedule-14-paragraph-6-5-c"><num>(c)</num><content><p>make transitional provision or savings.</p></content></level></subparagraph><subparagraph eId="schedule-14-paragraph-6-6"><num>(6)</num><content><p>In sub-paragraph (1) the reference to “any provision” is a reference to any provision of an enactment or of the constitution or rules of a qualifying body.</p></content></subparagraph><subparagraph eId="schedule-14-paragraph-6-7"><num>(7)</num><content><p>In this paragraph “the appropriate national authority” has the same meaning as in paragraph 4.</p></content></subparagraph><subparagraph eId="schedule-14-paragraph-6-8"><num>(8)</num><content><p>In the application of this paragraph in relation to a public company, the references to a duty to hold a general meeting as its annual general meeting are to be read as including a reference to a duty to hold an accounts meeting.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Regulations made by the Secretary of State or the Treasury</heading><paragraph eId="schedule-14-paragraph-7" class="schProv1"><num>7</num><subparagraph eId="schedule-14-paragraph-7-1"><num>(1)</num><content><p>Regulations made by the Secretary of State or the Treasury under this Schedule are to be made by statutory instrument.</p></content></subparagraph><subparagraph eId="schedule-14-paragraph-7-2"><num>(2)</num><content><p>A statutory instrument containing regulations made by the Secretary of State under paragraph 2(2)(a) of this Schedule is subject to annulment in pursuance of a resolution of either House of Parliament.</p></content></subparagraph><subparagraph eId="schedule-14-paragraph-7-3"><num>(3)</num><content><p>A statutory instrument containing regulations made by the Secretary of State under paragraph <ref href="#schedule-14-paragraph-2-2-b">2(2)(b)</ref> of this Schedule or containing regulations made by the Secretary of State or the Treasury under paragraph 4 or 6 of this Schedule must be laid before Parliament as soon as reasonably practicable after being made.</p></content></subparagraph><subparagraph eId="schedule-14-paragraph-7-4"><num>(4)</num><content><p>Sub-paragraph <ref href="#schedule-14-paragraph-7-3">(3)</ref> does not apply if a draft of the statutory instrument has been laid before and approved by a resolution of each House of Parliament.</p></content></subparagraph><subparagraph eId="schedule-14-paragraph-7-5"><num>(5)</num><content><p>Regulations contained in a statutory instrument laid before Parliament by virtue of sub-paragraph <ref href="#schedule-14-paragraph-7-3">(3)</ref> cease to have effect at the end of the period of 40 days beginning with the day on which the instrument is made, unless during that period the instrument is approved by a resolution of each House of Parliament.</p></content></subparagraph><subparagraph eId="schedule-14-paragraph-7-6"><num>(6)</num><intro><p>In calculating the period of 40 days, no account is to be taken of any time during which—</p></intro><level class="para1" eId="schedule-14-paragraph-7-6-a"><num>(a)</num><content><p>Parliament is dissolved or prorogued, or</p></content></level><level class="para1" eId="schedule-14-paragraph-7-6-b"><num>(b)</num><content><p>both Houses of Parliament are adjourned for more than 4 days.</p></content></level></subparagraph><subparagraph eId="schedule-14-paragraph-7-7"><num>(7)</num><intro><p>Where regulations cease to have effect as a result of sub-paragraph <ref href="#schedule-14-paragraph-7-5">(5)</ref> that does not—</p></intro><level class="para1" eId="schedule-14-paragraph-7-7-a"><num>(a)</num><content><p>affect anything previously done under or by virtue of the regulations, or</p></content></level><level class="para1" eId="schedule-14-paragraph-7-7-b"><num>(b)</num><content><p>prevent the making of new regulations.</p></content></level></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Regulations made by the Scottish Ministers</heading><paragraph eId="schedule-14-paragraph-8" class="schProv1"><num>8</num><subparagraph eId="schedule-14-paragraph-8-1"><num>(1)</num><content><p>Regulations made by the Scottish Ministers under paragraph <ref href="#schedule-14-paragraph-2-2-a">2(2)(a)</ref> of this Schedule are subject to the negative procedure (see section 28 of the Interpretation and Legislative Reform (Scotland) Act <ref eId="c00147" href="http://www.legislation.gov.uk/id/asp/2010/10">2010 (asp 10)</ref>).</p></content></subparagraph><subparagraph eId="schedule-14-paragraph-8-2"><num>(2)</num><content><p>Regulations made by the Scottish Ministers under paragraph <ref href="#schedule-14-paragraph-2-2-b">2(2)(b)</ref>, <ref href="#schedule-14-paragraph-4">4</ref> or <ref href="#schedule-14-paragraph-6">6</ref> of this Schedule must be laid before the Scottish Parliament as soon as reasonably practicable after being made.</p></content></subparagraph><subparagraph eId="schedule-14-paragraph-8-3"><num>(3)</num><content><p>Sub-paragraph <ref href="#schedule-14-paragraph-8-2">(2)</ref> does not apply if the regulations have been subject to the affirmative procedure (see section 29 of the Interpretation and Legislative Reform (Scotland) Act 2010).</p></content></subparagraph><subparagraph eId="schedule-14-paragraph-8-4"><num>(4)</num><content><p>Regulations laid before the Scottish Parliament by virtue of sub-paragraph (2) cease to have effect at the end of the period of 40 days beginning with the day on which they are made, unless during that period the regulations are approved by a resolution of the Scottish Parliament.</p></content></subparagraph><subparagraph eId="schedule-14-paragraph-8-5"><num>(5)</num><intro><p>In calculating the period of 40 days, no account is to be taken of any time during which the Scottish Parliament is—</p></intro><level class="para1" eId="schedule-14-paragraph-8-5-a"><num>(a)</num><content><p>dissolved, or</p></content></level><level class="para1" eId="schedule-14-paragraph-8-5-b"><num>(b)</num><content><p>in recess for more than 4 days.</p></content></level></subparagraph><subparagraph eId="schedule-14-paragraph-8-6"><num>(6)</num><intro><p>Where regulations cease to have effect as a result of sub-paragraph (4) that does not—</p></intro><level class="para1" eId="schedule-14-paragraph-8-6-a"><num>(a)</num><content><p>affect anything previously done under or by virtue of the regulations, or</p></content></level><level class="para1" eId="schedule-14-paragraph-8-6-b"><num>(b)</num><content><p>prevent the making of new regulations.</p></content></level></subparagraph><subparagraph eId="schedule-14-paragraph-8-7"><num>(7)</num><content><p>Section 30 of the Interpretation and Legislative Reform (Scotland) Act 2010 does not apply in relation to regulations to which sub-paragraph <ref href="#schedule-14-paragraph-8-2">(2)</ref> applies.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Regulations made by the Department for the Economy in Northern Ireland</heading><paragraph eId="schedule-14-paragraph-9" class="schProv1"><num>9</num><subparagraph eId="schedule-14-paragraph-9-1"><num>(1)</num><content><p>Regulations made by the Department for the Economy in Northern Ireland under paragraph <ref href="#schedule-14-paragraph-2-2-a">2(2)(a)</ref> of this Schedule are subject to negative resolution within the meaning of section 41(6) of the <ref eId="c00148" href="http://www.legislation.gov.uk/id/apni/1954/33">Interpretation Act (Northern Ireland) 1954 (c. 33 (N.I.))</ref>.</p></content></subparagraph><subparagraph eId="schedule-14-paragraph-9-2"><num>(2)</num><content><p>Regulations made by the Department for the Economy in Northern Ireland under paragraph <ref href="#schedule-14-paragraph-2-2-b">2(2)(b)</ref>, <ref href="#schedule-14-paragraph-4">4</ref> or <ref href="#schedule-14-paragraph-6">6</ref> of this Schedule must be laid before the Assembly as soon as reasonably practicable after being made.</p></content></subparagraph><subparagraph eId="schedule-14-paragraph-9-3"><num>(3)</num><content><p>Sub-paragraph <ref href="#schedule-14-paragraph-9-2">(2)</ref> does not apply if a draft of the regulations has been laid before, and approved by a resolution of, the Assembly.</p></content></subparagraph><subparagraph eId="schedule-14-paragraph-9-4"><num>(4)</num><content><p>Section 41(3) of the Interpretation Act (Northern Ireland) 1954 applies for the purposes of sub-paragraph <ref href="#schedule-14-paragraph-9-3">(3)</ref> in relation to the laying of a draft as it applies in relation to the laying of a statutory document under an enactment.</p></content></subparagraph><subparagraph eId="schedule-14-paragraph-9-5"><num>(5)</num><content><p>Regulations laid before the Assembly by virtue of sub-paragraph <ref href="#schedule-14-paragraph-9-2">(2)</ref> cease to have effect at the end of the period of 40 days beginning with the day on which the regulations are made, unless during that period the regulations are approved by a resolution of the Assembly.</p></content></subparagraph><subparagraph eId="schedule-14-paragraph-9-6"><num>(6)</num><intro><p>In calculating the period of 40 days, no account is to be taken of any time during which the Assembly is—</p></intro><level class="para1" eId="schedule-14-paragraph-9-6-a"><num>(a)</num><content><p>dissolved,</p></content></level><level class="para1" eId="schedule-14-paragraph-9-6-b"><num>(b)</num><content><p>in recess for more than 4 days, or</p></content></level><level class="para1" eId="schedule-14-paragraph-9-6-c"><num>(c)</num><content><p>adjourned for more than 6 days.</p></content></level></subparagraph><subparagraph eId="schedule-14-paragraph-9-7"><num>(7)</num><intro><p>Where regulations cease to have effect as a result of sub-paragraph <ref href="#schedule-14-paragraph-9-5">(5)</ref> that does not—</p></intro><level class="para1" eId="schedule-14-paragraph-9-7-a"><num>(a)</num><content><p>affect anything previously done under or by virtue of the regulations, or</p></content></level><level class="para1" eId="schedule-14-paragraph-9-7-b"><num>(b)</num><content><p>prevent the making of new regulations.</p></content></level></subparagraph><subparagraph eId="schedule-14-paragraph-9-8"><num>(8)</num><content><p>A power of the Department for the Economy in Northern Ireland to make regulations under this Schedule is exercisable by statutory rule for the purposes of the Statutory Rules (Northern Ireland) Order 1979 (<ref eId="c00149" href="http://www.legislation.gov.uk/id/nisi/1979/1573">S.I. 1979/1573 (N.I. 12)</ref>).</p></content></subparagraph><subparagraph eId="schedule-14-paragraph-9-9"><num>(9)</num><content><p>In this paragraph “the Assembly” means the Northern Ireland Assembly.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" class="schGroup7"><heading>Other interpretation</heading><paragraph eId="schedule-14-paragraph-10" class="schProv1"><num>10</num><intro><p>In this Schedule—</p></intro><hcontainer name="definition"><content><p>“accounts meeting” means a general meeting of a public company at which the company’s annual accounts and reports (within the meaning given by section 471 of the Companies Act 2006) are laid;</p></content></hcontainer><hcontainer name="definition"><content><p>“constitution”, in relation to a company, is to be construed in accordance with section 17 of the Companies Act 2006;</p></content></hcontainer><hcontainer name="definition"><content><p>“enactment” includes an Act of the Scottish Parliament and an instrument made under such an Act;</p></content></hcontainer><hcontainer name="definition"><content><p>“public company” has the meaning given by section 4(2) of the Companies Act 2006.</p></content></hcontainer></paragraph></hcontainer></hcontainer>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-4-paragraph-4" class="schProv1"><num>4</num><content><p>Rules under section 411 of the Insolvency Act 1986 may make transitional provision or savings in connection with any provision made by paragraphs <ref href="#schedule-4-paragraph-13">13</ref> to <ref href="#schedule-4-paragraph-51">51</ref> or <ref href="#schedule-4-paragraph-53">53</ref> to <ref href="#schedule-4-paragraph-90">90</ref> ceasing to have effect (whether by virtue of paragraph <ref href="#schedule-4-paragraph-3">3</ref> or <ref href="#schedule-4-paragraph-12">12</ref>).</p></content></paragraph>
<hcontainer xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" name="crossheading" class="schGroup7"><heading>Extension under section <ref href="#d25e841">A10</ref> or <ref href="#d25e920">A11</ref> of the Insolvency Act 1986: notices and statements</heading><paragraph eId="schedule-4-paragraph-61" class="schProv1"><num>61</num><content><p>A statement by the monitor under section <ref href="#d25e841">A10</ref><ref href="#d25e963">(1)(d)</ref> or <ref href="#d25e920">A11</ref><ref href="#d25e963">(1)(d)</ref> of the Insolvency Act 1986 must contain contact details of the monitor.</p></content></paragraph></hcontainer>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-4-paragraph-52" class="schProv1"><num>52</num><content><p>Paragraphs <ref href="#schedule-4-paragraph-53">53</ref> to <ref href="#schedule-4-paragraph-90">90</ref> cease to have effect at the end of the relevant period, subject to paragraph <ref href="#schedule-4-paragraph-3">3</ref>.</p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-4-paragraph-55" class="schProv1"><num>55</num><subparagraph eId="schedule-4-paragraph-55-1"><num>(1)</num><content><p>A notice or statement under section <ref href="#d25e433">A6</ref><ref href="#d25e437">(1)</ref>, <ref href="#d25e841">A10</ref><ref href="#d25e845">(1)</ref>, <ref href="#d25e920">A11</ref><ref href="#d25e924">(1)</ref> or <ref href="#d25e1090">A13</ref><ref href="#d25e1100">(2)</ref> of the Insolvency Act 1986 must be authenticated by or on behalf of the person giving the notice or making the statement.</p></content></subparagraph><subparagraph eId="schedule-4-paragraph-55-2"><num>(2)</num><content><p>A notice under section <ref href="#d25e618">A8</ref><ref href="#d25e637">(2)(a)</ref> of the Insolvency Act 1986 must be authenticated by the monitor.</p></content></subparagraph><subparagraph eId="schedule-4-paragraph-55-3"><num>(3)</num><content><p>Rule 1.6 of the Scottish Insolvency Rules applies for the purposes of authentication under this paragraph.</p></content></subparagraph></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-4-paragraph-58" class="schProv1"><num>58</num><content><p>Each statement under section <ref href="#d25e433">A6</ref><ref href="#d25e449">(1)(b)</ref> to <ref href="#d25e479">(e)</ref> of the Insolvency Act 1986 must be made within the period of 5 days ending with the day on which the documents under section <ref href="#d25e433">A6</ref><ref href="#d25e443">(1)(a)</ref> to <ref href="#d25e479">(e)</ref> are lodged in the court (or, if the documents are lodged on different days, the last of those days).</p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-4-paragraph-61" class="schProv1"><num>61</num><content><p>A statement by the monitor under section <ref href="#d25e841">A10</ref><ref href="#d25e963">(1)(d)</ref> or <ref href="#d25e920">A11</ref><ref href="#d25e963">(1)(d)</ref> of the Insolvency Act 1986 must contain contact details of the monitor.</p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" eId="schedule-8-paragraph-10" class="schProv1"><num>10</num><content><p><mod>In relation to a moratorium that comes into force during the relevant period, Article <ref href="#d25e8629">13ED</ref>(1) of the Insolvency (Northern Ireland) Order 1989 has effect as if for sub-paragraph (a) there were substituted—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="order" ukl:Context="main" ukl:Format="double"><level class="para1"><num>(a)</num><intro><p>the monitor thinks—</p></intro><level class="para2"><num>(i)</num><content><p>that the moratorium is not likely to result in the rescue of the company as a going concern, and</p></content></level><level class="para2"><num>(ii)</num><content><p>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,</p></content></level></level></quotedStructure><inline name="appendText">.</inline></mod></p></content></paragraph>
<hcontainer xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" name="crossheading" class="schGroup7"><heading>Value Added Tax Act 1994</heading><paragraph eId="schedule-9-paragraph-15" class="schProv1"><num>15</num><content><p><mod>In section 26AA of the Value Added Tax Act 1994 (disapplication of disallowance under section 26A in insolvency), in subsection (8), after paragraph (k) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="double"><level class="para1"><num>(ka)</num><content><p>a compromise or arrangement sanctioned by the court and delivered to the registrar or (as the case may be) published in the Gazette in accordance with section 901F of the Companies Act 2006 is in place in relation to that person,</p></content></level></quotedStructure><inline name="appendText">.</inline></mod></p></content></paragraph></hcontainer>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-3-paragraph-34" class="schProv1"><num>34</num><content><p>In Schedule 15A to the Building Societies Act 1986 (application of other companies insolvency legislation to building societies), in paragraph 1(2)(a), omit “(except section 1A)”.</p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-3-paragraph-46" class="schProv1"><num>46</num><content><p>The Investment Bank Special Administration Regulations 2011 (<ref eId="c00068" href="http://www.legislation.gov.uk/id/uksi/2011/245">S.I. 2011/245</ref>) are amended as follows.</p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-9-paragraph-2" class="schProv1"><num>2</num><content><p>The Finance Act 1986 is amended as follows.</p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" eId="schedule-9-paragraph-15" class="schProv1"><num>15</num><content><p><mod>In section 26AA of the Value Added Tax Act 1994 (disapplication of disallowance under section 26A in insolvency), in subsection (8), after paragraph (k) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="double"><level class="para1"><num>(ka)</num><content><p>a compromise or arrangement sanctioned by the court and delivered to the registrar or (as the case may be) published in the Gazette in accordance with section 901F of the Companies Act 2006 is in place in relation to that person,</p></content></level></quotedStructure><inline name="appendText">.</inline></mod></p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-3-paragraph-47" class="schProv1"><num>47</num><intro><p>In regulation 21 (dissolution or voluntary arrangement), in paragraph (5A)—</p></intro><level class="para1" eId="schedule-3-paragraph-47-a"><num>(a)</num><content><p>omit “and Schedule A1”;</p></content></level><level class="para1" eId="schedule-3-paragraph-47-b"><num>(b)</num><content><p>for the first “9” substitute “8”.</p></content></level></paragraph>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="schedule-3-paragraph-47-a"><num>(a)</num><content><p>omit “and Schedule A1”;</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="schedule-3-paragraph-47-b"><num>(b)</num><content><p>for the first “9” substitute “8”.</p></content></level>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-9-paragraph-3" class="schProv1"><num>3</num><content><p>In section 80D (repurchases and stock lending: replacement stock on insolvency), in subsection (9)(f), after “Part 26” insert “or 26A”.</p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-3-paragraph-48" class="schProv1"><num>48</num><intro><p>In Schedule 2 (bank administration), in paragraph 16(3)(ba)—</p></intro><level class="para1" eId="schedule-3-paragraph-48-a"><num>(a)</num><content><p>omit “and Schedule A1”;</p></content></level><level class="para1" eId="schedule-3-paragraph-48-b"><num>(b)</num><content><p>for the first “9” substitute “8”.</p></content></level></paragraph>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="schedule-3-paragraph-48-a"><num>(a)</num><content><p>omit “and Schedule A1”;</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="schedule-3-paragraph-48-b"><num>(b)</num><content><p>for the first “9” substitute “8”.</p></content></level>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-9-paragraph-4" class="schProv1"><num>4</num><content><p>In section 89AB (stamp duty reserve tax: exception for repurchases and stock lending in case of insolvency), in subsection (9)(f), after “Part 26” insert “or 26A”.</p></content></paragraph>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-15-11"><num>(11)</num><content><p>This section has effect as if it were included in Part 6 of the Insolvency Act 1986.</p></content></subsection>
<section xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" eId="section-16"><num>16</num><heading>Protection of supplies of electricity, gas, water, etc: Northern Ireland</heading><subsection eId="section-16-1"><num>(1)</num><content><p>Article 197 of the Insolvency (Northern Ireland) Order 1989 (S.I. 1989/2405 (N.I. 19)) is amended as follows.</p></content></subsection><subsection eId="section-16-2"><num>(2)</num><content><p>Paragraph (3) is amended in accordance with subsections (3) to (5).</p></content></subsection><subsection eId="section-16-3"><num>(3)</num><content><p><mod>After sub-paragraph (a) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="unknown" uk:docName="unknown" ukl:TargetClass="unknown" ukl:TargetSubClass="unknown" ukl:Context="unknown" ukl:Format="default"><level class="para1"><num>(aza)</num><content><p>a supply of electricity by a class of person within Class A (small supply) or Class B (resale) of Schedule 3 to the Electricity (Class Exemptions from the Requirement for a Licence) Order (Northern Ireland) 2013 (S.R. 2013/93);</p></content></level></quotedStructure><inline name="appendText">.</inline></mod></p></content></subsection><subsection eId="section-16-4"><num>(4)</num><content><p><mod>After sub-paragraph (b) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="unknown" uk:docName="unknown" ukl:TargetClass="unknown" ukl:TargetSubClass="unknown" ukl:Context="unknown" ukl:Format="default"><level class="para1"><num>(ba)</num><content><p>a supply of water by a person who has an interest in the premises to which the supply is given;</p></content></level></quotedStructure><inline name="appendText">.</inline></mod></p></content></subsection><subsection eId="section-16-5"><num>(5)</num><content><p><mod>After sub-paragraph (c) (and before the words “and in this paragraph”) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="unknown" uk:docName="unknown" ukl:TargetClass="unknown" ukl:TargetSubClass="unknown" ukl:Context="unknown" ukl:Format="default"><level class="para1"><num>(d)</num><content><p>a supply of communications services by a person who carries on a business which includes giving such supplies;</p></content></level><level class="para1"><num>(e)</num><content><p>a supply of goods or services mentioned in paragraph (3A) by a person who carries on a business which includes giving such supplies, where the supply is for the purpose of enabling or facilitating anything to be done by electronic means;</p></content></level></quotedStructure><inline name="appendText">.</inline></mod></p></content></subsection><subsection eId="section-16-6"><num>(6)</num><content><p><mod>After paragraph (3) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="unknown" uk:docName="unknown" ukl:TargetClass="unknown" ukl:TargetSubClass="unknown" ukl:Context="unknown" ukl:Format="default"><subsection><num>(3A)</num><intro><p>The goods and services referred to in paragraph (3)(e) are—</p></intro><level class="para1"><num>(a)</num><content><p>point of sale terminals;</p></content></level><level class="para1"><num>(b)</num><content><p>computer hardware and software;</p></content></level><level class="para1"><num>(c)</num><content><p>information, advice and technical assistance in connection with the use of information technology;</p></content></level><level class="para1"><num>(d)</num><content><p>data storage and processing;</p></content></level><level class="para1"><num>(e)</num><content><p>website hosting.</p></content></level></subsection></quotedStructure></mod></p></content></subsection></section>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-16-1"><num>(1)</num><content><p>Article 197 of the Insolvency (Northern Ireland) Order 1989 (S.I. 1989/2405 (N.I. 19)) is amended as follows.</p></content></subsection>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-16-2"><num>(2)</num><content><p>Paragraph (3) is amended in accordance with subsections (3) to (5).</p></content></subsection>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" eId="section-16-3"><num>(3)</num><content><p><mod>After sub-paragraph (a) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="unknown" uk:docName="unknown" ukl:TargetClass="unknown" ukl:TargetSubClass="unknown" ukl:Context="unknown" ukl:Format="default"><level class="para1"><num>(aza)</num><content><p>a supply of electricity by a class of person within Class A (small supply) or Class B (resale) of Schedule 3 to the Electricity (Class Exemptions from the Requirement for a Licence) Order (Northern Ireland) 2013 (S.R. 2013/93);</p></content></level></quotedStructure><inline name="appendText">.</inline></mod></p></content></subsection>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" eId="section-16-4"><num>(4)</num><content><p><mod>After sub-paragraph (b) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="unknown" uk:docName="unknown" ukl:TargetClass="unknown" ukl:TargetSubClass="unknown" ukl:Context="unknown" ukl:Format="default"><level class="para1"><num>(ba)</num><content><p>a supply of water by a person who has an interest in the premises to which the supply is given;</p></content></level></quotedStructure><inline name="appendText">.</inline></mod></p></content></subsection>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" eId="section-16-5"><num>(5)</num><content><p><mod>After sub-paragraph (c) (and before the words “and in this paragraph”) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="unknown" uk:docName="unknown" ukl:TargetClass="unknown" ukl:TargetSubClass="unknown" ukl:Context="unknown" ukl:Format="default"><level class="para1"><num>(d)</num><content><p>a supply of communications services by a person who carries on a business which includes giving such supplies;</p></content></level><level class="para1"><num>(e)</num><content><p>a supply of goods or services mentioned in paragraph (3A) by a person who carries on a business which includes giving such supplies, where the supply is for the purpose of enabling or facilitating anything to be done by electronic means;</p></content></level></quotedStructure><inline name="appendText">.</inline></mod></p></content></subsection>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" eId="section-16-6"><num>(6)</num><content><p><mod>After paragraph (3) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="unknown" uk:docName="unknown" ukl:TargetClass="unknown" ukl:TargetSubClass="unknown" ukl:Context="unknown" ukl:Format="default"><subsection><num>(3A)</num><intro><p>The goods and services referred to in paragraph (3)(e) are—</p></intro><level class="para1"><num>(a)</num><content><p>point of sale terminals;</p></content></level><level class="para1"><num>(b)</num><content><p>computer hardware and software;</p></content></level><level class="para1"><num>(c)</num><content><p>information, advice and technical assistance in connection with the use of information technology;</p></content></level><level class="para1"><num>(d)</num><content><p>data storage and processing;</p></content></level><level class="para1"><num>(e)</num><content><p>website hosting.</p></content></level></subsection></quotedStructure></mod></p></content></subsection>
<section xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" xmlns:default="http://www.w3.org/1999/xhtml" eId="section-17"><num>17</num><heading>Further protection of essential supplies: Northern Ireland</heading><subsection eId="section-17-1"><num>(1)</num><content><p><mod>After Article 197 of the Insolvency (Northern Ireland) Order 1989 insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="order" ukl:Context="main" ukl:Format="default"><article><heading>Further protection of essential supplies</heading><num>197A</num><paragraph><num>(1)</num><intro><p>An insolvency-related term of a contract for the supply of essential goods or services to a company ceases to have effect if—</p></intro><level class="para1"><num>(a)</num><content><p>the company enters administration, or</p></content></level><level class="para1"><num>(b)</num><content><p>a voluntary arrangement approved under Part 2 takes effect in relation to the company.</p></content></level></paragraph><paragraph><num>(2)</num><intro><p>An insolvency-related term of a contract does not cease to have effect by virtue of paragraph (1) to the extent that—</p></intro><level class="para1"><num>(a)</num><content><p>it provides for the contract or the supply to terminate, or any other thing to take place, because the company becomes subject to an insolvency procedure other than administration or a voluntary arrangement;</p></content></level><level class="para1"><num>(b)</num><content><p>it entitles a supplier to terminate the contract or the supply, or do any other thing, because the company becomes subject to an insolvency procedure other than administration or a voluntary arrangement; or</p></content></level><level class="para1"><num>(c)</num><content><p>it entitles a supplier to terminate the contract or the supply because of an event that occurs, or may occur, after the company enters administration or the voluntary arrangement takes effect.</p></content></level></paragraph><paragraph><num>(3)</num><intro><p>Where an insolvency-related term of a contract ceases to have effect under this Article the supplier may—</p></intro><level class="para1"><num>(a)</num><content><p>terminate the contract, if the condition in paragraph (4) is met;</p></content></level><level class="para1"><num>(b)</num><content><p>terminate the supply, if the condition in paragraph (5) is met.</p></content></level></paragraph><paragraph><num>(4)</num><intro><p>The condition in this paragraph is that—</p></intro><level class="para1"><num>(a)</num><content><p>the insolvency office-holder consents to the termination of the contract,</p></content></level><level class="para1"><num>(b)</num><content><p>the High Court grants permission for the termination of the contract, or</p></content></level><level class="para1"><num>(c)</num><content><p>any charges in respect of the supply that are incurred after the company entered administration or the voluntary arrangement took effect are not paid within the period of 28 days beginning with the day on which payment is due.</p></content></level><wrapUp><p>The High Court may grant permission under sub-paragraph (b) only if satisfied that the continuation of the contract would cause the supplier hardship.</p></wrapUp></paragraph><paragraph><num>(5)</num><intro><p>The condition in this paragraph is that—</p></intro><level class="para1"><num>(a)</num><content><p>the supplier gives written notice to the insolvency office-holder that the supply will be terminated unless the office-holder personally guarantees the payment of any charges in respect of the continuation of the supply after the company entered administration or the voluntary arrangement took effect, and</p></content></level><level class="para1"><num>(b)</num><content><p>the insolvency office-holder does not give that guarantee within the period of 14 days beginning with the day the notice is received.</p></content></level></paragraph><paragraph><num>(6)</num><intro><p>For the purposes of securing that the interests of suppliers are protected, where—</p></intro><level class="para1"><num>(a)</num><content><p>an insolvency-related term of a contract (the “original term”) ceases to have effect by virtue of paragraph (1), and</p></content></level><level class="para1"><num>(b)</num><content><p>the company subsequently enters administration, or a voluntary arrangement subsequently has effect in relation to it,</p></content></level><wrapUp><p>the contract is treated for the purposes of paragraphs (1) to (5) as if, immediately before the subsequent administration is entered into or the subsequent voluntary arrangement takes effect, it included an insolvency-related term identical to the original term.</p></wrapUp></paragraph><paragraph><num>(7)</num><content><p>A contract for the supply of essential goods or services is a contract for a supply mentioned in Article 197(3).</p></content></paragraph><paragraph><num>(8)</num><intro><p>An insolvency-related term of a contract for the supply of essential goods or services to a company is a provision of the contract under which—</p></intro><level class="para1"><num>(a)</num><content><p>the contract or the supply would terminate, or any other thing would take place, because the company enters administration or the voluntary arrangement takes effect,</p></content></level><level class="para1"><num>(b)</num><content><p>the supplier would be entitled to terminate the contract or the supply, or to do any other thing, because the company enters administration or the voluntary arrangement takes effect, or</p></content></level><level class="para1"><num>(c)</num><content><p>the supplier would be entitled to terminate the contract or the supply because of an event that occurred before the company enters administration or the voluntary arrangement takes effect.</p></content></level></paragraph><paragraph><num>(9)</num><intro><p>In this Article “<term refersTo="#term-insolvency-office-holder">insolvency office-holder</term>” means—</p></intro><level class="para1"><num>(a)</num><content><p>in a case where a company enters administration, the administrator;</p></content></level><level class="para1"><num>(b)</num><content><p>in a case where a voluntary arrangement under Part 2 takes effect in relation to a company, the supervisor of the voluntary arrangement.</p></content></level></paragraph></article></quotedStructure></mod></p></content></subsection><subsection eId="section-17-2"><num>(2)</num><content><p><mod>In Schedule 5 to the Investment Bank Special Administration Regulations 2011 (S.I. 2011/245), in the Table, after the entry for section 233 insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="default"><tblock class="table" ukl:Orientation="portrait"><foreign><default:table xmlns="http://www.w3.org/1999/xhtml"><default:colgroup><default:col style="width:33%"/><default:col style="width:33%"/><default:col style="width:33%"/></default:colgroup><default:tbody><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Section 233A</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Article 197A</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">-</p></default:td></default:tr></default:tbody></default:table></foreign></tblock></quotedStructure><inline name="appendText">.</inline></mod></p></content></subsection><subsection eId="section-17-3"><num>(3)</num><content><p>The amendments made by this section have effect in relation to a company which enters administration or has a voluntary arrangement take effect in relation to it on or after the day on which this section comes into force (but in respect of contracts entered into before, as well as those entered into on or after, that day).</p></content></subsection></section>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" eId="section-17-1"><num>(1)</num><content><p><mod>After Article 197 of the Insolvency (Northern Ireland) Order 1989 insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="order" ukl:Context="main" ukl:Format="default"><article><heading>Further protection of essential supplies</heading><num>197A</num><paragraph><num>(1)</num><intro><p>An insolvency-related term of a contract for the supply of essential goods or services to a company ceases to have effect if—</p></intro><level class="para1"><num>(a)</num><content><p>the company enters administration, or</p></content></level><level class="para1"><num>(b)</num><content><p>a voluntary arrangement approved under Part 2 takes effect in relation to the company.</p></content></level></paragraph><paragraph><num>(2)</num><intro><p>An insolvency-related term of a contract does not cease to have effect by virtue of paragraph (1) to the extent that—</p></intro><level class="para1"><num>(a)</num><content><p>it provides for the contract or the supply to terminate, or any other thing to take place, because the company becomes subject to an insolvency procedure other than administration or a voluntary arrangement;</p></content></level><level class="para1"><num>(b)</num><content><p>it entitles a supplier to terminate the contract or the supply, or do any other thing, because the company becomes subject to an insolvency procedure other than administration or a voluntary arrangement; or</p></content></level><level class="para1"><num>(c)</num><content><p>it entitles a supplier to terminate the contract or the supply because of an event that occurs, or may occur, after the company enters administration or the voluntary arrangement takes effect.</p></content></level></paragraph><paragraph><num>(3)</num><intro><p>Where an insolvency-related term of a contract ceases to have effect under this Article the supplier may—</p></intro><level class="para1"><num>(a)</num><content><p>terminate the contract, if the condition in paragraph (4) is met;</p></content></level><level class="para1"><num>(b)</num><content><p>terminate the supply, if the condition in paragraph (5) is met.</p></content></level></paragraph><paragraph><num>(4)</num><intro><p>The condition in this paragraph is that—</p></intro><level class="para1"><num>(a)</num><content><p>the insolvency office-holder consents to the termination of the contract,</p></content></level><level class="para1"><num>(b)</num><content><p>the High Court grants permission for the termination of the contract, or</p></content></level><level class="para1"><num>(c)</num><content><p>any charges in respect of the supply that are incurred after the company entered administration or the voluntary arrangement took effect are not paid within the period of 28 days beginning with the day on which payment is due.</p></content></level><wrapUp><p>The High Court may grant permission under sub-paragraph (b) only if satisfied that the continuation of the contract would cause the supplier hardship.</p></wrapUp></paragraph><paragraph><num>(5)</num><intro><p>The condition in this paragraph is that—</p></intro><level class="para1"><num>(a)</num><content><p>the supplier gives written notice to the insolvency office-holder that the supply will be terminated unless the office-holder personally guarantees the payment of any charges in respect of the continuation of the supply after the company entered administration or the voluntary arrangement took effect, and</p></content></level><level class="para1"><num>(b)</num><content><p>the insolvency office-holder does not give that guarantee within the period of 14 days beginning with the day the notice is received.</p></content></level></paragraph><paragraph><num>(6)</num><intro><p>For the purposes of securing that the interests of suppliers are protected, where—</p></intro><level class="para1"><num>(a)</num><content><p>an insolvency-related term of a contract (the “original term”) ceases to have effect by virtue of paragraph (1), and</p></content></level><level class="para1"><num>(b)</num><content><p>the company subsequently enters administration, or a voluntary arrangement subsequently has effect in relation to it,</p></content></level><wrapUp><p>the contract is treated for the purposes of paragraphs (1) to (5) as if, immediately before the subsequent administration is entered into or the subsequent voluntary arrangement takes effect, it included an insolvency-related term identical to the original term.</p></wrapUp></paragraph><paragraph><num>(7)</num><content><p>A contract for the supply of essential goods or services is a contract for a supply mentioned in Article 197(3).</p></content></paragraph><paragraph><num>(8)</num><intro><p>An insolvency-related term of a contract for the supply of essential goods or services to a company is a provision of the contract under which—</p></intro><level class="para1"><num>(a)</num><content><p>the contract or the supply would terminate, or any other thing would take place, because the company enters administration or the voluntary arrangement takes effect,</p></content></level><level class="para1"><num>(b)</num><content><p>the supplier would be entitled to terminate the contract or the supply, or to do any other thing, because the company enters administration or the voluntary arrangement takes effect, or</p></content></level><level class="para1"><num>(c)</num><content><p>the supplier would be entitled to terminate the contract or the supply because of an event that occurred before the company enters administration or the voluntary arrangement takes effect.</p></content></level></paragraph><paragraph><num>(9)</num><intro><p>In this Article “<term refersTo="#term-insolvency-office-holder">insolvency office-holder</term>” means—</p></intro><level class="para1"><num>(a)</num><content><p>in a case where a company enters administration, the administrator;</p></content></level><level class="para1"><num>(b)</num><content><p>in a case where a voluntary arrangement under Part 2 takes effect in relation to a company, the supervisor of the voluntary arrangement.</p></content></level></paragraph></article></quotedStructure></mod></p></content></subsection>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" xmlns:default="http://www.w3.org/1999/xhtml" eId="section-17-2"><num>(2)</num><content><p><mod>In Schedule 5 to the Investment Bank Special Administration Regulations 2011 (S.I. 2011/245), in the Table, after the entry for section 233 insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="default"><tblock class="table" ukl:Orientation="portrait"><foreign><default:table xmlns="http://www.w3.org/1999/xhtml"><default:colgroup><default:col style="width:33%"/><default:col style="width:33%"/><default:col style="width:33%"/></default:colgroup><default:tbody><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Section 233A</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Article 197A</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">-</p></default:td></default:tr></default:tbody></default:table></foreign></tblock></quotedStructure><inline name="appendText">.</inline></mod></p></content></subsection>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-17-3"><num>(3)</num><content><p>The amendments made by this section have effect in relation to a company which enters administration or has a voluntary arrangement take effect in relation to it on or after the day on which this section comes into force (but in respect of contracts entered into before, as well as those entered into on or after, that day).</p></content></subsection>
<section xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" eId="section-18"><num>18</num><heading>Protection of supplies of goods and services: Northern Ireland</heading><subsection eId="section-18-1"><num>(1)</num><content><p><mod>After Article 197A of the Insolvency (Northern Ireland) Order 1989 insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="order" ukl:Context="main" ukl:Format="default"><article><heading>Protection of supplies of goods and services</heading><num>197B</num><paragraph><num>(1)</num><content><p>This Article applies where a company becomes subject to a relevant insolvency procedure.</p></content></paragraph><paragraph><num>(2)</num><intro><p>A company becomes subject to a relevant insolvency procedure for the purposes of this Article where—</p></intro><level class="para1"><num>(a)</num><content><p>a moratorium under Part 1A comes into force for the company,</p></content></level><level class="para1"><num>(b)</num><content><p>the company enters administration,</p></content></level><level class="para1"><num>(c)</num><content><p>an administrative receiver of the company is appointed (otherwise than in succession to another administrative receiver),</p></content></level><level class="para1"><num>(d)</num><content><p>a voluntary arrangement approved under Part 2 takes effect in relation to the company,</p></content></level><level class="para1"><num>(e)</num><content><p>the company goes into liquidation,</p></content></level><level class="para1"><num>(f)</num><content><p>a provisional liquidator of the company is appointed (otherwise than in succession to another provisional liquidator), or</p></content></level><level class="para1"><num>(g)</num><content><p>a court order is made under section 901C(1) of the Companies Act 2006 in relation to the company (order summoning meeting relating to compromise or arrangement).</p></content></level></paragraph><paragraph><num>(3)</num><intro><p>A provision of a contract for the supply of goods or services to the company ceases to have effect when the company becomes subject to the relevant insolvency procedure if and to the extent that, under the provision—</p></intro><level class="para1"><num>(a)</num><content><p>the contract or the supply would terminate, or any other thing would take place, because the company becomes subject to the relevant insolvency procedure, or</p></content></level><level class="para1"><num>(b)</num><content><p>the supplier would be entitled to terminate the contract or the supply, or to do any other thing, because the company becomes subject to the relevant insolvency procedure.</p></content></level></paragraph><paragraph><num>(4)</num><intro><p>Where—</p></intro><level class="para1"><num>(a)</num><content><p>under a provision of a contract for the supply of goods or services to the company the supplier is entitled to terminate the contract or the supply because of an event occurring before the start of the insolvency period, and</p></content></level><level class="para1"><num>(b)</num><content><p>the entitlement arises before the start of that period,</p></content></level><wrapUp><p>the entitlement may not be exercised during that period.</p></wrapUp></paragraph><paragraph><num>(5)</num><intro><p>Where a provision of a contract ceases to have effect under paragraph (3) or an entitlement under a provision of a contract is not exercisable under paragraph (4), the supplier may terminate the contract if—</p></intro><level class="para1"><num>(a)</num><content><p>in a case where the company has become subject to a relevant insolvency procedure as specified in paragraph (2)(b), (c), (e) or (f), the office-holder consents to the termination of the contract,</p></content></level><level class="para1"><num>(b)</num><content><p>in any other case, the company consents to the termination of the contract, or</p></content></level><level class="para1"><num>(c)</num><content><p>the High Court is satisfied that the continuation of the contract would cause the supplier hardship and grants permission for the termination of the contract.</p></content></level></paragraph><paragraph><num>(6)</num><content><p>Where a provision of a contract ceases to have effect under paragraph (3) and the company becomes subject to a further relevant insolvency procedure, the supplier may terminate the contract in accordance with paragraph (5)(a) to (c).</p></content></paragraph><paragraph><num>(7)</num><content><p>The supplier shall not make it a condition of any supply of goods and services after the time when the company becomes subject to the relevant insolvency procedure, or do anything which has the effect of making it a condition of such a supply, that any outstanding charges in respect of a supply made to the company before that time are paid.</p></content></paragraph><paragraph><num>(8)</num><intro><p>In this Article “<term refersTo="#term-the-insolvency-period">the insolvency period</term>”, in relation to a relevant insolvency procedure, means the period beginning when the company becomes subject to the relevant insolvency procedure and ending—</p></intro><level class="para1"><num>(a)</num><content><p>in the case of a moratorium under Part 1A, when the moratorium comes to an end,</p></content></level><level class="para1"><num>(b)</num><intro><p>in the case of the company entering administration, when the appointment of the administrator ceases to have effect under —</p></intro><level class="para2"><num>(i)</num><content><p>paragraphs 77 to 85 of Schedule B1, or</p></content></level><level class="para2"><num>(ii)</num><content><p>an order under section 901F of the Companies Act 2006,</p></content></level></level><level class="para1"><num>(c)</num><content><p>in the case of the appointment of an administrative receiver of the company, when the receiver or any successor to the receiver ceases to hold office without a successor being appointed,</p></content></level><level class="para1"><num>(d)</num><content><p>in the case of a voluntary arrangement approved under Part 2 taking effect in relation to the company, when the arrangement ceases to have effect,</p></content></level><level class="para1"><num>(e)</num><intro><p>in the case of the company going into liquidation, when the liquidator has—</p></intro><level class="para2"><num>(i)</num><content><p>pursuant to Article 80(1), laid the account of the winding up before a general meeting of the company and given an explanation of it,</p></content></level><level class="para2"><num>(ii)</num><content><p>pursuant to Article 92(1), laid the account of the winding up before a general meeting of the company and a meeting of the creditors and given an explanation of it to each meeting, or</p></content></level><level class="para2"><num>(iii)</num><content><p>pursuant to Article 124(1), given the liquidator's report of the winding up to a general meeting of the company's creditors,</p></content></level><wrapUp><p>or when the appointment of the liquidator ceases to have effect under an order under section 901F of the Companies Act 2006,</p></wrapUp></level><level class="para1"><num>(f)</num><content><p>in the case of the appointment of a provisional liquidator for the company, when the provisional liquidator or any successor to the provisional liquidator ceases to hold office without a successor being appointed, and</p></content></level><level class="para1"><num>(g)</num><intro><p>in the case of the making of a court order under section 901C(1) of the Companies Act 2006 in relation to the company, when—</p></intro><level class="para2"><num>(i)</num><content><p>an order made by the High Court under section 901F of that Act takes effect, or</p></content></level><level class="para2"><num>(ii)</num><content><p>the High Court decides not to make such an order.</p></content></level></level></paragraph><paragraph><num>(9)</num><content><p>In this Article “<term refersTo="#term-office-holder">office-holder</term>”, in relation to a company which has entered into an insolvency procedure as specified in paragraph (2)(b), (c), (e) or (f), means the administrator, administrative receiver, liquidator or provisional liquidator respectively.</p></content></paragraph><paragraph><num>(10)</num><content><p>Schedule 2ZZA provides for exclusions from the operation of this Article.</p></content></paragraph></article><article><heading>Powers to amend Article 197B and Schedule 2ZZA</heading><num>197C</num><paragraph><num>(1)</num><content><p>Regulations may omit any of sub-paragraphs (a) to (g) of Article 197B(2) (relevant insolvency procedures).</p></content></paragraph><paragraph><num>(2)</num><intro><p>Regulations may amend Schedule 2ZZA so as to—</p></intro><level class="para1"><num>(a)</num><content><p>remove or amend any exclusion from Article 197B for the time being specified there, or</p></content></level><level class="para1"><num>(b)</num><content><p>add further exclusions from Article 197B.</p></content></level></paragraph><paragraph><num>(3)</num><content><p>In paragraph (2), references to exclusions from Article 197B are to circumstances in which Article 197B, or any provision of that Article, does not apply.</p></content></paragraph><paragraph><num>(4)</num><content><p>The circumstances referred to in paragraph (3) may be framed by reference to kinds of company, supplier, contract, goods or services or in any other way.</p></content></paragraph><paragraph><num>(5)</num><intro><p>Regulations under this Article may make—</p></intro><level class="para1"><num>(a)</num><content><p>consequential provision;</p></content></level><level class="para1"><num>(b)</num><content><p>transitional and supplementary provision.</p></content></level></paragraph><paragraph><num>(6)</num><content><p>Regulations under this Article made by virtue of paragraph (5) may in particular make provision amending this Order or any other statutory provision whenever passed or made (including, if paragraph 1(1) or (2) of Schedule 2ZZA is omitted, provision omitting Article 197A or 197 respectively).</p></content></paragraph><paragraph><num>(7)</num><content><p>Regulations may not be made under this Article unless a draft of the regulations has been laid before, and approved by a resolution of, the Assembly.</p></content></paragraph></article></quotedStructure></mod></p></content></subsection><subsection eId="section-18-2"><num>(2)</num><content><p><mod>In the Insolvency (Northern Ireland) Order 1989, in Article 2(2), in the definition of “regulations”, before “Article 359(2)” insert <quotedText>“
Article 197C and
”</quotedText>.</mod></p></content></subsection><subsection eId="section-18-3"><num>(3)</num><intro><p>Schedule 13—</p></intro><level class="para1" eId="section-18-3-a"><num>(a)</num><content><p>inserts a new Schedule into the Insolvency (Northern Ireland) Order 1989 which provides for exclusions from the operation of Article 197B of that Order, and</p></content></level><level class="para1" eId="section-18-3-b"><num>(b)</num><content><p>contains consequential amendments.</p></content></level></subsection><subsection eId="section-18-4"><num>(4)</num><content><p>The amendments made by this section and Schedule 13 have effect in relation to a company which becomes subject to a relevant insolvency procedure on or after the day on which this section comes into force (but in respect of contracts entered into before, as well as those entered into on or after, that day).</p></content></subsection></section>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" eId="section-18-1"><num>(1)</num><content><p><mod>After Article 197A of the Insolvency (Northern Ireland) Order 1989 insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="order" ukl:Context="main" ukl:Format="default"><article><heading>Protection of supplies of goods and services</heading><num>197B</num><paragraph><num>(1)</num><content><p>This Article applies where a company becomes subject to a relevant insolvency procedure.</p></content></paragraph><paragraph><num>(2)</num><intro><p>A company becomes subject to a relevant insolvency procedure for the purposes of this Article where—</p></intro><level class="para1"><num>(a)</num><content><p>a moratorium under Part 1A comes into force for the company,</p></content></level><level class="para1"><num>(b)</num><content><p>the company enters administration,</p></content></level><level class="para1"><num>(c)</num><content><p>an administrative receiver of the company is appointed (otherwise than in succession to another administrative receiver),</p></content></level><level class="para1"><num>(d)</num><content><p>a voluntary arrangement approved under Part 2 takes effect in relation to the company,</p></content></level><level class="para1"><num>(e)</num><content><p>the company goes into liquidation,</p></content></level><level class="para1"><num>(f)</num><content><p>a provisional liquidator of the company is appointed (otherwise than in succession to another provisional liquidator), or</p></content></level><level class="para1"><num>(g)</num><content><p>a court order is made under section 901C(1) of the Companies Act 2006 in relation to the company (order summoning meeting relating to compromise or arrangement).</p></content></level></paragraph><paragraph><num>(3)</num><intro><p>A provision of a contract for the supply of goods or services to the company ceases to have effect when the company becomes subject to the relevant insolvency procedure if and to the extent that, under the provision—</p></intro><level class="para1"><num>(a)</num><content><p>the contract or the supply would terminate, or any other thing would take place, because the company becomes subject to the relevant insolvency procedure, or</p></content></level><level class="para1"><num>(b)</num><content><p>the supplier would be entitled to terminate the contract or the supply, or to do any other thing, because the company becomes subject to the relevant insolvency procedure.</p></content></level></paragraph><paragraph><num>(4)</num><intro><p>Where—</p></intro><level class="para1"><num>(a)</num><content><p>under a provision of a contract for the supply of goods or services to the company the supplier is entitled to terminate the contract or the supply because of an event occurring before the start of the insolvency period, and</p></content></level><level class="para1"><num>(b)</num><content><p>the entitlement arises before the start of that period,</p></content></level><wrapUp><p>the entitlement may not be exercised during that period.</p></wrapUp></paragraph><paragraph><num>(5)</num><intro><p>Where a provision of a contract ceases to have effect under paragraph (3) or an entitlement under a provision of a contract is not exercisable under paragraph (4), the supplier may terminate the contract if—</p></intro><level class="para1"><num>(a)</num><content><p>in a case where the company has become subject to a relevant insolvency procedure as specified in paragraph (2)(b), (c), (e) or (f), the office-holder consents to the termination of the contract,</p></content></level><level class="para1"><num>(b)</num><content><p>in any other case, the company consents to the termination of the contract, or</p></content></level><level class="para1"><num>(c)</num><content><p>the High Court is satisfied that the continuation of the contract would cause the supplier hardship and grants permission for the termination of the contract.</p></content></level></paragraph><paragraph><num>(6)</num><content><p>Where a provision of a contract ceases to have effect under paragraph (3) and the company becomes subject to a further relevant insolvency procedure, the supplier may terminate the contract in accordance with paragraph (5)(a) to (c).</p></content></paragraph><paragraph><num>(7)</num><content><p>The supplier shall not make it a condition of any supply of goods and services after the time when the company becomes subject to the relevant insolvency procedure, or do anything which has the effect of making it a condition of such a supply, that any outstanding charges in respect of a supply made to the company before that time are paid.</p></content></paragraph><paragraph><num>(8)</num><intro><p>In this Article “<term refersTo="#term-the-insolvency-period">the insolvency period</term>”, in relation to a relevant insolvency procedure, means the period beginning when the company becomes subject to the relevant insolvency procedure and ending—</p></intro><level class="para1"><num>(a)</num><content><p>in the case of a moratorium under Part 1A, when the moratorium comes to an end,</p></content></level><level class="para1"><num>(b)</num><intro><p>in the case of the company entering administration, when the appointment of the administrator ceases to have effect under —</p></intro><level class="para2"><num>(i)</num><content><p>paragraphs 77 to 85 of Schedule B1, or</p></content></level><level class="para2"><num>(ii)</num><content><p>an order under section 901F of the Companies Act 2006,</p></content></level></level><level class="para1"><num>(c)</num><content><p>in the case of the appointment of an administrative receiver of the company, when the receiver or any successor to the receiver ceases to hold office without a successor being appointed,</p></content></level><level class="para1"><num>(d)</num><content><p>in the case of a voluntary arrangement approved under Part 2 taking effect in relation to the company, when the arrangement ceases to have effect,</p></content></level><level class="para1"><num>(e)</num><intro><p>in the case of the company going into liquidation, when the liquidator has—</p></intro><level class="para2"><num>(i)</num><content><p>pursuant to Article 80(1), laid the account of the winding up before a general meeting of the company and given an explanation of it,</p></content></level><level class="para2"><num>(ii)</num><content><p>pursuant to Article 92(1), laid the account of the winding up before a general meeting of the company and a meeting of the creditors and given an explanation of it to each meeting, or</p></content></level><level class="para2"><num>(iii)</num><content><p>pursuant to Article 124(1), given the liquidator's report of the winding up to a general meeting of the company's creditors,</p></content></level><wrapUp><p>or when the appointment of the liquidator ceases to have effect under an order under section 901F of the Companies Act 2006,</p></wrapUp></level><level class="para1"><num>(f)</num><content><p>in the case of the appointment of a provisional liquidator for the company, when the provisional liquidator or any successor to the provisional liquidator ceases to hold office without a successor being appointed, and</p></content></level><level class="para1"><num>(g)</num><intro><p>in the case of the making of a court order under section 901C(1) of the Companies Act 2006 in relation to the company, when—</p></intro><level class="para2"><num>(i)</num><content><p>an order made by the High Court under section 901F of that Act takes effect, or</p></content></level><level class="para2"><num>(ii)</num><content><p>the High Court decides not to make such an order.</p></content></level></level></paragraph><paragraph><num>(9)</num><content><p>In this Article “<term refersTo="#term-office-holder">office-holder</term>”, in relation to a company which has entered into an insolvency procedure as specified in paragraph (2)(b), (c), (e) or (f), means the administrator, administrative receiver, liquidator or provisional liquidator respectively.</p></content></paragraph><paragraph><num>(10)</num><content><p>Schedule 2ZZA provides for exclusions from the operation of this Article.</p></content></paragraph></article><article><heading>Powers to amend Article 197B and Schedule 2ZZA</heading><num>197C</num><paragraph><num>(1)</num><content><p>Regulations may omit any of sub-paragraphs (a) to (g) of Article 197B(2) (relevant insolvency procedures).</p></content></paragraph><paragraph><num>(2)</num><intro><p>Regulations may amend Schedule 2ZZA so as to—</p></intro><level class="para1"><num>(a)</num><content><p>remove or amend any exclusion from Article 197B for the time being specified there, or</p></content></level><level class="para1"><num>(b)</num><content><p>add further exclusions from Article 197B.</p></content></level></paragraph><paragraph><num>(3)</num><content><p>In paragraph (2), references to exclusions from Article 197B are to circumstances in which Article 197B, or any provision of that Article, does not apply.</p></content></paragraph><paragraph><num>(4)</num><content><p>The circumstances referred to in paragraph (3) may be framed by reference to kinds of company, supplier, contract, goods or services or in any other way.</p></content></paragraph><paragraph><num>(5)</num><intro><p>Regulations under this Article may make—</p></intro><level class="para1"><num>(a)</num><content><p>consequential provision;</p></content></level><level class="para1"><num>(b)</num><content><p>transitional and supplementary provision.</p></content></level></paragraph><paragraph><num>(6)</num><content><p>Regulations under this Article made by virtue of paragraph (5) may in particular make provision amending this Order or any other statutory provision whenever passed or made (including, if paragraph 1(1) or (2) of Schedule 2ZZA is omitted, provision omitting Article 197A or 197 respectively).</p></content></paragraph><paragraph><num>(7)</num><content><p>Regulations may not be made under this Article unless a draft of the regulations has been laid before, and approved by a resolution of, the Assembly.</p></content></paragraph></article></quotedStructure></mod></p></content></subsection>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-18-2"><num>(2)</num><content><p><mod>In the Insolvency (Northern Ireland) Order 1989, in Article 2(2), in the definition of “regulations”, before “Article 359(2)” insert <quotedText>“
Article 197C and
”</quotedText>.</mod></p></content></subsection>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-18-3"><num>(3)</num><intro><p>Schedule 13—</p></intro><level class="para1" eId="section-18-3-a"><num>(a)</num><content><p>inserts a new Schedule into the Insolvency (Northern Ireland) Order 1989 which provides for exclusions from the operation of Article 197B of that Order, and</p></content></level><level class="para1" eId="section-18-3-b"><num>(b)</num><content><p>contains consequential amendments.</p></content></level></subsection>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-18-3-a"><num>(a)</num><content><p>inserts a new Schedule into the Insolvency (Northern Ireland) Order 1989 which provides for exclusions from the operation of Article 197B of that Order, and</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-18-3-b"><num>(b)</num><content><p>contains consequential amendments.</p></content></level>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-18-4"><num>(4)</num><content><p>The amendments made by this section and Schedule 13 have effect in relation to a company which becomes subject to a relevant insolvency procedure on or after the day on which this section comes into force (but in respect of contracts entered into before, as well as those entered into on or after, that day).</p></content></subsection>
<section xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" eId="section-19"><num>19</num><heading>Temporary exclusion for small suppliers: Northern Ireland</heading><subsection eId="section-19-1"><num>(1)</num><intro><p>Article 197B of the Insolvency (Northern Ireland) Order 1989 does not apply in relation to a contract for the supply of goods or services to a company where—</p></intro><level class="para1" eId="section-19-1-a"><num>(a)</num><content><p>the company becomes subject to a relevant insolvency procedure during the relevant period, and</p></content></level><level class="para1" eId="section-19-1-b"><num>(b)</num><content><p>the supplier is a small entity at the time the company becomes subject to the procedure.</p></content></level></subsection><subsection eId="section-19-2"><num>(2)</num><intro><p>In subsection (1)(a) “<term refersTo="#term-relevant-period" eId="term-relevant-period">relevant period</term>” means the period which—</p></intro><level class="para1" eId="section-19-2-a"><num>(a)</num><content><p>begins with the day on which this section comes into force, and</p></content></level><level class="para1" eId="section-19-2-b"><num>(b)</num><content><p>ends with <ins class="substitution first last" ukl:ChangeId="key-62ef1e972a369007ce9a0d84ebb49b09-1646751478397" ukl:CommentaryRef="key-62ef1e972a369007ce9a0d84ebb49b09"><noteRef uk:name="commentary" href="#key-62ef1e972a369007ce9a0d84ebb49b09" class="commentary"/>30 June 2021</ins>.</p></content></level></subsection><subsection eId="section-19-3"><num>(3)</num><content><p><mod>For the purposes of subsection (1)(b), whether the supplier is a “small entity” at the time the company becomes subject to a relevant insolvency procedure (the <quotedText>“
relevant time
”</quotedText>) is to be determined under subsections (4) to (10).</mod></p></content></subsection><subsection eId="section-19-4"><num>(4)</num><content><p>Where the supplier is not in its first financial year at the relevant time, the supplier is a small entity at the relevant time if at least two of the following conditions were met in relation to its most recent financial year—</p><blockList class="unordered none" ukl:Name="UnorderedList" ukl:Decoration="none"><item><p>Condition 1: the supplier's turnover was not more than £10.2 million;</p></item><item><p>Condition 2: the supplier's balance sheet total was not more than £5.1 million;</p></item><item><p>Condition 3: the number of the supplier's employees was not more than 50.</p></item></blockList></content></subsection><subsection eId="section-19-5"><num>(5)</num><content><p>For the purposes of Condition 1 in subsection (4), if the supplier's most recent financial year was not 12 months, the maximum figure for turnover must be proportionately adjusted.</p></content></subsection><subsection eId="section-19-6"><num>(6)</num><content><p>For the purposes of Condition 2 in subsection (4), the supplier's balance sheet total means the aggregate of the amounts shown as assets in the supplier's balance sheet.</p></content></subsection><subsection eId="section-19-7"><num>(7)</num><intro><p>For the purposes of Condition 3 in subsection (4), the number of the supplier's employees means the average number of persons employed by the supplier in its most recent financial year, determined as follows—</p></intro><level class="para1" eId="section-19-7-a"><num>(a)</num><content><p>find for each month in that financial year the number of persons employed under contracts of service by the supplier in that month (whether throughout the month or not),</p></content></level><level class="para1" eId="section-19-7-b"><num>(b)</num><content><p>add together the monthly totals, and</p></content></level><level class="para1" eId="section-19-7-c"><num>(c)</num><content><p>divide by the number of months in the financial year.</p></content></level></subsection><subsection eId="section-19-8"><num>(8)</num><content><p>In subsections (4) to (7) the supplier's “most recent financial year” is the financial year of the supplier which, at the relevant time, has ended most recently.</p></content></subsection><subsection eId="section-19-9"><num>(9)</num><content><p>Where the supplier is in its first financial year at the relevant time, the supplier is a small entity at the relevant time if at least two of the following conditions are met—</p><blockList class="unordered none" ukl:Name="UnorderedList" ukl:Decoration="none"><item><p>Condition 1: the supplier's average turnover for each complete month in the supplier's first financial year is not more than £850,000;</p></item><item><p>Condition 2: the aggregate of amounts which would be shown in a balance sheet of the supplier drawn up at the relevant time is not more than £5.1 million;</p></item><item><p>Condition 3: the average number of persons employed by the supplier in the supplier's first financial year (determined as specified in subsection (7)) is not more than 50.</p></item></blockList></content></subsection><subsection eId="section-19-10"><num>(10)</num><intro><p>In this section—</p></intro><hcontainer name="definition"><intro><p>“<term refersTo="#term-entity" eId="term-entity">entity</term>” means—</p></intro><level class="para1"><num>(a)</num><content><p>a company,</p></content></level><level class="para1"><num>(b)</num><content><p>a limited liability partnership,</p></content></level><level class="para1"><num>(c)</num><content><p>any other association or body of persons, whether or not incorporated, and</p></content></level><level class="para1"><num>(d)</num><content><p>an individual carrying on a trade or business;</p></content></level></hcontainer><hcontainer name="definition"><content><p>“<term refersTo="#term-relevant-insolvency-procedure" eId="term-relevant-insolvency-procedure">relevant insolvency procedure</term>” has the same meaning as in Article 197B of the Insolvency (Northern Ireland) Order 1989.</p></content></hcontainer></subsection><subsection eId="section-19-11"><num>(11)</num><content><p>This section has effect as if it were included in Part 7 of the Insolvency (Northern Ireland) Order 1989.</p></content></subsection></section>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-19-1"><num>(1)</num><intro><p>Article 197B of the Insolvency (Northern Ireland) Order 1989 does not apply in relation to a contract for the supply of goods or services to a company where—</p></intro><level class="para1" eId="section-19-1-a"><num>(a)</num><content><p>the company becomes subject to a relevant insolvency procedure during the relevant period, and</p></content></level><level class="para1" eId="section-19-1-b"><num>(b)</num><content><p>the supplier is a small entity at the time the company becomes subject to the procedure.</p></content></level></subsection>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-19-1-a"><num>(a)</num><content><p>the company becomes subject to a relevant insolvency procedure during the relevant period, and</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-19-1-b"><num>(b)</num><content><p>the supplier is a small entity at the time the company becomes subject to the procedure.</p></content></level>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" eId="section-19-2"><num>(2)</num><intro><p>In subsection (1)(a) “<term refersTo="#term-relevant-period" eId="term-relevant-period">relevant period</term>” means the period which—</p></intro><level class="para1" eId="section-19-2-a"><num>(a)</num><content><p>begins with the day on which this section comes into force, and</p></content></level><level class="para1" eId="section-19-2-b"><num>(b)</num><content><p>ends with <ins class="substitution first last" ukl:ChangeId="key-62ef1e972a369007ce9a0d84ebb49b09-1646751478397" ukl:CommentaryRef="key-62ef1e972a369007ce9a0d84ebb49b09"><noteRef uk:name="commentary" href="#key-62ef1e972a369007ce9a0d84ebb49b09" class="commentary"/>30 June 2021</ins>.</p></content></level></subsection>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-19-2-a"><num>(a)</num><content><p>begins with the day on which this section comes into force, and</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" class="para1" eId="section-19-2-b"><num>(b)</num><content><p>ends with <ins class="substitution first last" ukl:ChangeId="key-62ef1e972a369007ce9a0d84ebb49b09-1646751478397" ukl:CommentaryRef="key-62ef1e972a369007ce9a0d84ebb49b09"><noteRef uk:name="commentary" href="#key-62ef1e972a369007ce9a0d84ebb49b09" class="commentary"/>30 June 2021</ins>.</p></content></level>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-19-3"><num>(3)</num><content><p><mod>For the purposes of subsection (1)(b), whether the supplier is a “small entity” at the time the company becomes subject to a relevant insolvency procedure (the <quotedText>“
relevant time
”</quotedText>) is to be determined under subsections (4) to (10).</mod></p></content></subsection>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" eId="section-19-4"><num>(4)</num><content><p>Where the supplier is not in its first financial year at the relevant time, the supplier is a small entity at the relevant time if at least two of the following conditions were met in relation to its most recent financial year—</p><blockList class="unordered none" ukl:Name="UnorderedList" ukl:Decoration="none"><item><p>Condition 1: the supplier's turnover was not more than £10.2 million;</p></item><item><p>Condition 2: the supplier's balance sheet total was not more than £5.1 million;</p></item><item><p>Condition 3: the number of the supplier's employees was not more than 50.</p></item></blockList></content></subsection>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-19-5"><num>(5)</num><content><p>For the purposes of Condition 1 in subsection (4), if the supplier's most recent financial year was not 12 months, the maximum figure for turnover must be proportionately adjusted.</p></content></subsection>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-19-6"><num>(6)</num><content><p>For the purposes of Condition 2 in subsection (4), the supplier's balance sheet total means the aggregate of the amounts shown as assets in the supplier's balance sheet.</p></content></subsection>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-19-7"><num>(7)</num><intro><p>For the purposes of Condition 3 in subsection (4), the number of the supplier's employees means the average number of persons employed by the supplier in its most recent financial year, determined as follows—</p></intro><level class="para1" eId="section-19-7-a"><num>(a)</num><content><p>find for each month in that financial year the number of persons employed under contracts of service by the supplier in that month (whether throughout the month or not),</p></content></level><level class="para1" eId="section-19-7-b"><num>(b)</num><content><p>add together the monthly totals, and</p></content></level><level class="para1" eId="section-19-7-c"><num>(c)</num><content><p>divide by the number of months in the financial year.</p></content></level></subsection>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-19-7-a"><num>(a)</num><content><p>find for each month in that financial year the number of persons employed under contracts of service by the supplier in that month (whether throughout the month or not),</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-19-7-b"><num>(b)</num><content><p>add together the monthly totals, and</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-19-7-c"><num>(c)</num><content><p>divide by the number of months in the financial year.</p></content></level>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-19-8"><num>(8)</num><content><p>In subsections (4) to (7) the supplier's “most recent financial year” is the financial year of the supplier which, at the relevant time, has ended most recently.</p></content></subsection>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" eId="section-19-9"><num>(9)</num><content><p>Where the supplier is in its first financial year at the relevant time, the supplier is a small entity at the relevant time if at least two of the following conditions are met—</p><blockList class="unordered none" ukl:Name="UnorderedList" ukl:Decoration="none"><item><p>Condition 1: the supplier's average turnover for each complete month in the supplier's first financial year is not more than £850,000;</p></item><item><p>Condition 2: the aggregate of amounts which would be shown in a balance sheet of the supplier drawn up at the relevant time is not more than £5.1 million;</p></item><item><p>Condition 3: the average number of persons employed by the supplier in the supplier's first financial year (determined as specified in subsection (7)) is not more than 50.</p></item></blockList></content></subsection>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-19-10"><num>(10)</num><intro><p>In this section—</p></intro><hcontainer name="definition"><intro><p>“<term refersTo="#term-entity" eId="term-entity">entity</term>” means—</p></intro><level class="para1"><num>(a)</num><content><p>a company,</p></content></level><level class="para1"><num>(b)</num><content><p>a limited liability partnership,</p></content></level><level class="para1"><num>(c)</num><content><p>any other association or body of persons, whether or not incorporated, and</p></content></level><level class="para1"><num>(d)</num><content><p>an individual carrying on a trade or business;</p></content></level></hcontainer><hcontainer name="definition"><content><p>“<term refersTo="#term-relevant-insolvency-procedure" eId="term-relevant-insolvency-procedure">relevant insolvency procedure</term>” has the same meaning as in Article 197B of the Insolvency (Northern Ireland) Order 1989.</p></content></hcontainer></subsection>
<hcontainer xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" name="crossheading" class="schGroup7"><heading>Timing of statements for obtaining moratorium</heading><paragraph eId="schedule-4-paragraph-18" class="schProv1"><num>18</num><content><p>Each statement under section <ref href="#d25e433">A6</ref><ref href="#d25e449">(1)(b)</ref> to <ref href="#d25e479">(e)</ref> of the Insolvency Act 1986 must be made within the period of 5 days ending with the day on which the documents under section <ref href="#d25e433">A6</ref><ref href="#d25e443">(1)(a)</ref> to <ref href="#d25e479">(e)</ref> are filed with the court (or, if the documents are filed on different days, the last of those days).</p></content></paragraph></hcontainer>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-3-paragraph-50" class="schProv1"><num>50</num><content><p>The Co-operative and Community Benefit Societies Act 2014 is amended as follows.</p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-4-paragraph-12" class="schProv1"><num>12</num><content><p>Paragraphs <ref href="#schedule-4-paragraph-13">13</ref> to <ref href="#schedule-4-paragraph-51">51</ref> cease to have effect at the end of the relevant period, subject to paragraph <ref href="#schedule-4-paragraph-3">3</ref>.</p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-4-paragraph-15" class="schProv1"><num>15</num><subparagraph eId="schedule-4-paragraph-15-1"><num>(1)</num><content><p>A notice or statement under section <ref href="#d25e433">A6</ref><ref href="#d25e437">(1)</ref>, <ref href="#d25e841">A10</ref><ref href="#d25e845">(1)</ref>, <ref href="#d25e920">A11</ref><ref href="#d25e924">(1)</ref> or <ref href="#d25e1090">A13</ref><ref href="#d25e1100">(2)</ref> of the Insolvency Act 1986 must be authenticated by or on behalf of the person giving the notice or making the statement.</p></content></subparagraph><subparagraph eId="schedule-4-paragraph-15-2"><num>(2)</num><content><p>A notice under section <ref href="#d25e618">A8</ref><ref href="#d25e637">(2)(a)</ref> of the Insolvency Act 1986 must be authenticated by the monitor.</p></content></subparagraph><subparagraph eId="schedule-4-paragraph-15-3"><num>(3)</num><content><p>Rule 1.5 of the England and Wales Insolvency Rules applies for the purposes of authentication under this paragraph.</p></content></subparagraph></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-4-paragraph-18" class="schProv1"><num>18</num><content><p>Each statement under section <ref href="#d25e433">A6</ref><ref href="#d25e449">(1)(b)</ref> to <ref href="#d25e479">(e)</ref> of the Insolvency Act 1986 must be made within the period of 5 days ending with the day on which the documents under section <ref href="#d25e433">A6</ref><ref href="#d25e443">(1)(a)</ref> to <ref href="#d25e479">(e)</ref> are filed with the court (or, if the documents are filed on different days, the last of those days).</p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-4-paragraph-21" class="schProv1"><num>21</num><content><p>A statement by the monitor under section <ref href="#d25e841">A10</ref><ref href="#d25e963">(1)(d)</ref> or <ref href="#d25e920">A11</ref><ref href="#d25e963">(1)(d)</ref> of the Insolvency Act 1986 must contain contact details of the monitor.</p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-8-paragraph-38" class="schProv1"><num>38</num><subparagraph eId="schedule-8-paragraph-38-1"><num>(1)</num><content><p>A notice under Article <ref href="#d25e8629">13ED</ref>(1) of the Insolvency (Northern Ireland) Order 1989 must be filed with the High Court as soon as practicable after the duty in that paragraph arises.</p></content></subparagraph><subparagraph eId="schedule-8-paragraph-38-2"><num>(2)</num><intro><p>The notice must state—</p></intro><level class="para1" eId="schedule-8-paragraph-38-2-a"><num>(a)</num><content><p>the provision under which it is given,</p></content></level><level class="para1" eId="schedule-8-paragraph-38-2-b"><num>(b)</num><content><p>the nature of the notice,</p></content></level><level class="para1" eId="schedule-8-paragraph-38-2-c"><num>(c)</num><content><p>the date of the notice,</p></content></level><level class="para1" eId="schedule-8-paragraph-38-2-d"><num>(d)</num><content><p>the name and contact details of the monitor,</p></content></level><level class="para1" eId="schedule-8-paragraph-38-2-e"><num>(e)</num><content><p>the identification details for the company to which it relates,</p></content></level><level class="para1" eId="schedule-8-paragraph-38-2-f"><num>(f)</num><content><p>the grounds on which the moratorium is being terminated,</p></content></level><level class="para1" eId="schedule-8-paragraph-38-2-g"><num>(g)</num><content><p>the monitor’s reasons for concluding that those grounds are made out, and</p></content></level><level class="para1" eId="schedule-8-paragraph-38-2-h"><num>(h)</num><content><p>the date on which the monitor concluded that those grounds were made out.</p></content></level></subparagraph><subparagraph eId="schedule-8-paragraph-38-3"><num>(3)</num><content><p>The notice must be authenticated by or on behalf of the monitor (see paragraph <ref href="#schedule-8-paragraph-49">49</ref>).</p></content></subparagraph></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-8-paragraph-41" class="schProv1"><num>41</num><subparagraph eId="schedule-8-paragraph-41-1"><num>(1)</num><intro><p>A notice under Article 13EE(8) of the Insolvency (Northern Ireland) Order 1989 must state—</p></intro><level class="para1" eId="schedule-8-paragraph-41-1-a"><num>(a)</num><content><p>the provision under which it is given,</p></content></level><level class="para1" eId="schedule-8-paragraph-41-1-b"><num>(b)</num><content><p>the nature of the notice,</p></content></level><level class="para1" eId="schedule-8-paragraph-41-1-c"><num>(c)</num><content><p>the date of the notice,</p></content></level><level class="para1" eId="schedule-8-paragraph-41-1-d"><num>(d)</num><content><p>the identification details for the company to which it relates,</p></content></level><level class="para1" eId="schedule-8-paragraph-41-1-e"><num>(e)</num><content><p>that it is given by the monitor acting in that capacity, and</p></content></level><level class="para1" eId="schedule-8-paragraph-41-1-f"><num>(f)</num><content><p>the name and contact details of the monitor.</p></content></level></subparagraph><subparagraph eId="schedule-8-paragraph-41-2"><num>(2)</num><content><p>The notice must be authenticated by the monitor (see paragraph <ref href="#schedule-8-paragraph-49">49</ref>).</p></content></subparagraph></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-8-paragraph-44" class="schProv1"><num>44</num><subparagraph eId="schedule-8-paragraph-44-1"><num>(1)</num><intro><p>Where Article 148A of the Insolvency (Northern Ireland) Order 1989 applies, the moratorium debts and pre-moratorium debts mentioned in paragraph (2)(b) of that Article are payable in the following order of priority—</p></intro><level class="para1" eId="schedule-8-paragraph-44-1-a"><num>(a)</num><content><p>amounts payable in respect of goods or services supplied during the moratorium under a contract where, but for Article 197B(3) or (4) of that Order, the supplier would not have had to make that supply;</p></content></level><level class="para1" eId="schedule-8-paragraph-44-1-b"><num>(b)</num><content><p>wages or salary arising under a contract of employment;</p></content></level><level class="para1" eId="schedule-8-paragraph-44-1-c"><num>(c)</num><content><p>other debts or other liabilities apart from the monitor’s remuneration or expenses;</p></content></level><level class="para1" eId="schedule-8-paragraph-44-1-d"><num>(d)</num><content><p>the monitor’s remuneration or expenses.</p></content></level></subparagraph><subparagraph eId="schedule-8-paragraph-44-2"><num>(2)</num><content><p>In this paragraph “wages or salary” has the same meaning as in Article <ref href="#d25e7009">13D</ref> of the Insolvency (Northern Ireland) Order 1989.</p></content></subparagraph></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-3-paragraph-51" class="schProv1"><num>51</num><content><p>In section 106 (appointment of inspectors and calling of special meetings), omit subsection (2).</p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" eId="schedule-3-paragraph-52" class="schProv1"><num>52</num><subparagraph eId="schedule-3-paragraph-52-1"><num>(1)</num><content><p>Section 118 (power to apply provisions about company arrangements and administration) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-3-paragraph-52-2"><num>(2)</num><content><p>At the end of the heading insert “etc”.</p></content></subparagraph><subparagraph eId="schedule-3-paragraph-52-3"><num>(3)</num><content><p><mod>In subsection (1), after “by order” insert <quotedText startQuote="“">—</quotedText><quotedStructure endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="double"><level class="para1"><num>(a)</num><content><p>provide for Part A1 of the Insolvency Act 1986 (moratorium) to apply (with or without modifications) in relation to registered societies;</p></content></level><level class="para1"><num>(b)</num><content><p/></content></level></quotedStructure><inline name="appendText">.</inline></mod></p></content></subparagraph><subparagraph eId="schedule-3-paragraph-52-4"><num>(4)</num><content><p><mod>After subsection (3), insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="double"><subsection><num>(3A)</num><content><p>The order may not make any provision that could be made under subsection (3B) or (3C).</p></content></subsection><subsection eId="d25e19070"><num>(3B)</num><content><p>The Welsh Ministers may by regulations made by statutory instrument make provision under the law of England and Wales for Part A1 of the Insolvency Act 1986 to apply (with or without modifications) in relation to a society that is registered as a social landlord under Part 1 of the Housing Act 1996.</p></content></subsection><subsection><num>(3C)</num><content><p>The Scottish Ministers may by regulations make provision under the law of Scotland for Part A1 of the Insolvency Act 1986 to apply (with or without modifications) in relation to a society that is registered as a social landlord under Part 2 of the Housing (Scotland) Act <ref eId="c00070" href="http://www.legislation.gov.uk/id/asp/2010/17">2010 (asp 17)</ref>.</p></content></subsection></quotedStructure></mod></p></content></subparagraph><subparagraph eId="schedule-3-paragraph-52-5"><num>(5)</num><content><p>In subsection (4), for “The order” substitute “An order or regulations under this section”.</p></content></subparagraph><subparagraph eId="schedule-3-paragraph-52-6"><num>(6)</num><content><p><mod>After subsection (5) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="double"><subsection><num>(5A)</num><content><p>A statutory instrument containing regulations under subsection (3B) is subject to annulment in pursuance of a resolution of Senedd Cymru.</p></content></subsection><subsection><num>(5B)</num><content><p>Regulations made by the Scottish Ministers under subsection (3C) are subject to the negative procedure (see section 28 of the Interpretation and Legislative Reform (Scotland) Act <ref eId="c00071" href="http://www.legislation.gov.uk/id/asp/2010/10">2010 (asp 10)</ref>).</p></content></subsection></quotedStructure></mod></p></content></subparagraph></paragraph>
<hcontainer xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" name="definition"><content><p>“relevant authority” has the meaning given by section 28(4);</p></content></hcontainer>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" eId="schedule-3-paragraph-54" class="schProv1"><num>54</num><intro><p>In Article 1 of the Co-operative and Community Benefit Societies and Credit Unions (Arrangements, Reconstructions and Administration) Order 2014 (citation, commencement and interpretation)—</p></intro><level class="para1" eId="schedule-3-paragraph-54-a"><num>(a)</num><content><p>in paragraph (2), in the definition of “the 1986 Act”, at the end insert “(see also paragraph (5))”;</p></content></level><level class="para1" eId="schedule-3-paragraph-54-b"><num>(b)</num><content><p><mod>after paragraph (4) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="order" ukl:Context="main" ukl:Format="double"><paragraph><num>(5)</num><content><p>In this Order a reference to the 1986 Act is to the 1986 Act without the amendments made by section 1 of, and Schedules 1 to 3 to, the Corporate Insolvency and Governance Act 2020.</p></content></paragraph></quotedStructure></mod></p></content></level></paragraph>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="schedule-3-paragraph-54-a"><num>(a)</num><content><p>in paragraph (2), in the definition of “the 1986 Act”, at the end insert “(see also paragraph (5))”;</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" class="para1" eId="schedule-3-paragraph-54-b"><num>(b)</num><content><p><mod>after paragraph (4) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="order" ukl:Context="main" ukl:Format="double"><paragraph><num>(5)</num><content><p>In this Order a reference to the 1986 Act is to the 1986 Act without the amendments made by section 1 of, and Schedules 1 to 3 to, the Corporate Insolvency and Governance Act 2020.</p></content></paragraph></quotedStructure></mod></p></content></level>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-4-paragraph-1" class="schProv1"><num>1</num><intro><p>In this Schedule “relevant period” means the period which—</p></intro><level class="para1" eId="schedule-4-paragraph-1-a"><num>(a)</num><content><p>begins with the day on which this Schedule comes into force, and</p></content></level><level class="para1" eId="schedule-4-paragraph-1-b"><num>(b)</num><content><p>ends with 30 September 2020.</p></content></level></paragraph>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="schedule-4-paragraph-1-a"><num>(a)</num><content><p>begins with the day on which this Schedule comes into force, and</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="schedule-4-paragraph-1-b"><num>(b)</num><content><p>ends with 30 September 2020.</p></content></level>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-3-paragraph-53" class="schProv1"><num>53</num><content><p>In section 147 (regulations and orders), in subsection (3), for “97 or 118” substitute “or 97, or an order under section 118,”.</p></content></paragraph>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-19-11"><num>(11)</num><content><p>This section has effect as if it were included in Part 7 of the Insolvency (Northern Ireland) Order 1989.</p></content></subsection>
<hcontainer xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" name="crossheading" ukl:Name="Pblock" eId="crossheading-power-to-amend-corporate-insolvency-or-governance-legislation-great-britain"><heading><i>Power to amend corporate insolvency or governance legislation: Great Britain</i></heading><section eId="section-20"><num>20</num><heading>Regulations to amend legislation: Great Britain</heading><subsection eId="section-20-1"><num>(1)</num><intro><p>The Secretary of State may by regulations amend, or modify the effect of, corporate insolvency or governance legislation so as to—</p></intro><level class="para1" eId="section-20-1-a"><num>(a)</num><content><p>change the conditions that must be met before a corporate insolvency or restructuring procedure applies to entities of any description (whether by adding, varying or removing any condition),</p></content></level><level class="para1" eId="section-20-1-b"><num>(b)</num><content><p>change the way in which a corporate insolvency or restructuring procedure applies in relation to entities of any description, or</p></content></level><level class="para1" eId="section-20-1-c"><num>(c)</num><content><p>change or disapply any duty of a person with corporate responsibility or the liability of such a person to any sanction.</p></content></level></subsection><subsection eId="section-20-2"><num>(2)</num><intro><p>Regulations under this section may—</p></intro><level class="para1" eId="section-20-2-a"><num>(a)</num><content><p>make different provision for different purposes;</p></content></level><level class="para1" eId="section-20-2-b"><num>(b)</num><content><p>make provision binding the Crown.</p></content></level></subsection><subsection eId="section-20-3"><num>(3)</num><content><p>Regulations under this section must be made in accordance with sections 21 to 26.</p></content></subsection></section><section eId="section-21"><num>21</num><heading>Purposes</heading><subsection eId="section-21-1"><num>(1)</num><intro><p>The Secretary of State may only make regulations under section 20(1)(a) or (b) if satisfied that the regulations are expedient for any of the following purposes—</p></intro><level class="para1" eId="section-21-1-a"><num>(a)</num><content><p>reducing, or assisting in the reduction of, the number of entities entering into corporate insolvency or restructuring procedures for reasons relating to the effects of coronavirus on businesses or on the economy of the United Kingdom;</p></content></level><level class="para1" eId="section-21-1-b"><num>(b)</num><content><p>mitigating or otherwise dealing with the effect on corporate insolvency or restructuring procedures of any increase or potential increase in the number of entities entering into those procedures for the reasons referred to in paragraph (a);</p></content></level><level class="para1" eId="section-21-1-c"><num>(c)</num><intro><p>mitigating difficulties that corporate insolvency or restructuring procedures might impose on a business in view of—</p></intro><level class="para2" eId="section-21-1-c-i"><num>(i)</num><content><p>any worsening of the financial position of the business in consequence of, or for reasons relating to, coronavirus,</p></content></level><level class="para2" eId="section-21-1-c-ii"><num>(ii)</num><content><p>constraints on people's ability to work, or to be in proximity to each other, as a result of coronavirus, or</p></content></level><level class="para2" eId="section-21-1-c-iii"><num>(iii)</num><content><p>measures for public health taken in response to coronavirus.</p></content></level></level></subsection><subsection eId="section-21-2"><num>(2)</num><content><p>The Secretary of State may only make regulations under section 20(1)(c) if satisfied that the regulations are expedient for the purpose of securing that the duties of persons with corporate responsibility, or the liability of those persons to any sanction, take due account of the effects of coronavirus on businesses or on the economy of the United Kingdom.</p></content></subsection></section><section eId="section-22"><num>22</num><heading>Restrictions</heading><subsection eId="section-22-1"><num>(1)</num><content><p>Before making regulations under section 20 the Secretary of State must consider the effect of the regulations on persons likely to be affected by them (for example, debtors, creditors or employees).</p></content></subsection><subsection eId="section-22-2"><num>(2)</num><intro><p>The Secretary of State may only make regulations under section 20 if satisfied—</p></intro><level class="para1" eId="section-22-2-a"><num>(a)</num><content><p>that the need for the provision made by the regulations is urgent,</p></content></level><level class="para1" eId="section-22-2-b"><num>(b)</num><content><p>that the provision made by the regulations is proportionate to the purpose for which it is made,</p></content></level><level class="para1" eId="section-22-2-c"><num>(c)</num><content><p>that it is not practicable without legislation to bring about the result intended to be brought about by that provision, and</p></content></level><level class="para1" eId="section-22-2-d"><num>(d)</num><content><p>if the Secretary of State could make the same provision in other subordinate legislation, that doing so would risk not achieving the purpose for which the regulations are made (because of possible delay or for any other reason).</p></content></level></subsection><subsection eId="section-22-3"><num>(3)</num><intro><p>Regulations under section 20—</p></intro><level class="para1" eId="section-22-3-a"><num>(a)</num><content><p>may not create a criminal offence or civil penalty (but may modify the circumstances in which a person is guilty of an existing offence or liable for an existing civil penalty);</p></content></level><level class="para1" eId="section-22-3-b"><num>(b)</num><content><p>may not make provision so as to impose or increase a fee.</p></content></level></subsection><subsection eId="section-22-4"><num>(4)</num><content><p>Regulations under section 20 may not make provision that could be made by an Act of the Scottish Parliament unless the Secretary of State has first consulted the Scottish Ministers.</p></content></subsection></section><section eId="section-23"><num>23</num><heading>Time-limited effect</heading><subsection eId="section-23-1"><num>(1)</num><intro><p>Regulations under section 20 must be framed so that any provision made by them—</p></intro><level class="para1" eId="section-23-1-a"><num>(a)</num><content><p>has effect only for a period not exceeding six months, or</p></content></level><level class="para1" eId="section-23-1-b"><num>(b)</num><content><p>applies only in relation to circumstances occurring in a period not exceeding six months.</p></content></level></subsection><subsection eId="section-23-2"><num>(2)</num><intro><p>This does not prevent further regulations under section 20 from—</p></intro><level class="para1" eId="section-23-2-a"><num>(a)</num><content><p>making the same provision for, or applying in relation to, subsequent periods (not exceeding six months at a time);</p></content></level><level class="para1" eId="section-23-2-b"><num>(b)</num><content><p>extending (by up to six months) the period for or in relation to which earlier regulations under that section apply.</p></content></level></subsection><subsection eId="section-23-3"><num>(3)</num><content><p>The Secretary of State must keep regulations under section 20 under review during the period for which they have effect or in relation to which they apply.</p></content></subsection><subsection eId="section-23-4"><num>(4)</num><intro><p>If on such a review the Secretary of State is satisfied that that period—</p></intro><level class="para1" eId="section-23-4-a"><num>(a)</num><content><p>is longer than expedient for the purpose for which the regulations were made, or</p></content></level><level class="para1" eId="section-23-4-b"><num>(b)</num><content><p>has ceased to be proportionate to that purpose,</p></content></level><wrapUp><p>the Secretary of State must by regulations under this subsection revoke or amend the regulations as appropriate.</p></wrapUp></subsection><subsection eId="section-23-5"><num>(5)</num><content><p>Regulations under subsection (4) may contain transitional provision or savings.</p></content></subsection></section><section eId="section-24"><num>24</num><heading>Expiry</heading><subsection eId="section-24-1"><num>(1)</num><content><p>The Secretary of State may not make regulations under section 20 after <ins class="substitution first last" ukl:ChangeId="key-5e06bb41e02966028eae4eef7af9a54c-1646751873583" ukl:CommentaryRef="key-5e06bb41e02966028eae4eef7af9a54c"><noteRef uk:name="commentary" href="#key-5e06bb41e02966028eae4eef7af9a54c" class="commentary"/>29 April 2022</ins>.</p></content></subsection><subsection eId="section-24-2"><num>(2)</num><intro><p>Where regulations under section 20 are in force on the date specified in subsection (1), that subsection does not—</p></intro><level class="para1" eId="section-24-2-a"><num>(a)</num><content><p>affect the continued operation of the regulations, or</p></content></level><level class="para1" eId="section-24-2-b"><num>(b)</num><content><p>prevent the making of further regulations under section 20 on one or more occasions, where those further regulations make the same provision for, or applying in relation to, subsequent periods (not exceeding six months at a time).</p></content></level></subsection><subsection eId="section-24-3"><num>(3)</num><content><p>The Secretary of State may by regulations substitute a later date for the date for the time being specified in subsection (1).</p></content></subsection><subsection eId="section-24-4"><num>(4)</num><intro><p>The power in subsection (3)—</p></intro><level class="para1" eId="section-24-4-a"><num>(a)</num><intro><p>may not be exercised so as to substitute a date which is—</p></intro><level class="para2" eId="section-24-4-a-i"><num>(i)</num><content><p>after the period of one year beginning with the date for the time being specified in subsection (1), or</p></content></level><level class="para2" eId="section-24-4-a-ii"><num>(ii)</num><content><p>after the period of two years beginning with the date on which this Act is passed, but</p></content></level></level><level class="para1" eId="section-24-4-b"><num>(b)</num><content><p>may be exercised more than once.</p></content></level></subsection></section><section eId="section-25"><num>25</num><heading>Consequential provision etc</heading><subsection eId="section-25-1"><num>(1)</num><content><p>The Secretary of State may by regulations make consequential, incidental or supplementary provision, or transitional provision or savings, in connection with provision made by regulations under section 20.</p></content></subsection><subsection eId="section-25-2"><num>(2)</num><intro><p>Regulations under this section may—</p></intro><level class="para1" eId="section-25-2-a"><num>(a)</num><content><p>make provision by amending or modifying the effect of any enactment (including this Act);</p></content></level><level class="para1" eId="section-25-2-b"><num>(b)</num><content><p>make different provision for different purposes;</p></content></level><level class="para1" eId="section-25-2-c"><num>(c)</num><content><p>make provision binding the Crown.</p></content></level></subsection></section><section eId="section-26"><num>26</num><heading>Procedure for regulations</heading><subsection eId="section-26-1"><num>(1)</num><content><p>Regulations under sections 20 to 25 are to be made by statutory instrument.</p></content></subsection><subsection eId="section-26-2"><num>(2)</num><intro><p>A statutory instrument containing—</p></intro><level class="para1" eId="section-26-2-a"><num>(a)</num><content><p>regulations made under section 20, other than one to which subsection (6)(a) applies, or</p></content></level><level class="para1" eId="section-26-2-b"><num>(b)</num><content><p>regulations made under section 25 which make provision by amending an Act or an Act of the Scottish Parliament,</p></content></level><wrapUp><p>must be laid before Parliament as soon as reasonably practicable after being made.</p></wrapUp></subsection><subsection eId="section-26-3"><num>(3)</num><content><p>Regulations contained in a statutory instrument laid before Parliament by virtue of subsection (2) cease to have effect at the end of the period of 40 days beginning with the day on which the instrument is made, unless during that period the instrument is approved by a resolution of each House of Parliament.</p></content></subsection><subsection eId="section-26-4"><num>(4)</num><intro><p>In calculating the period of 40 days, no account is to be taken of any time during which—</p></intro><level class="para1" eId="section-26-4-a"><num>(a)</num><content><p>Parliament is dissolved or prorogued, or</p></content></level><level class="para1" eId="section-26-4-b"><num>(b)</num><content><p>both Houses of Parliament are adjourned for more than 4 days.</p></content></level></subsection><subsection eId="section-26-5"><num>(5)</num><intro><p>Where regulations cease to have effect as a result of subsection (3) that does not—</p></intro><level class="para1" eId="section-26-5-a"><num>(a)</num><content><p>affect anything previously done under or by virtue of the regulations, or</p></content></level><level class="para1" eId="section-26-5-b"><num>(b)</num><content><p>prevent the making of new regulations.</p></content></level></subsection><subsection eId="section-26-6"><num>(6)</num><intro><p>A statutory instrument containing—</p></intro><level class="para1" eId="section-26-6-a"><num>(a)</num><content><p>regulations under section 20 which merely revoke other regulations under that section (with or without transitional provision), or</p></content></level><level class="para1" eId="section-26-6-b"><num>(b)</num><content><p>regulations under section 23(4),</p></content></level><wrapUp><p>is subject to annulment in pursuance of a resolution of either House of Parliament.</p></wrapUp></subsection><subsection eId="section-26-7"><num>(7)</num><content><p>Regulations under section 24(3) may not be made unless a draft of the statutory instrument containing them has been laid before, and approved by a resolution of, each House of Parliament.</p></content></subsection><subsection eId="section-26-8"><num>(8)</num><content><p>A statutory instrument containing regulations under section 25 which do not make provision by amending an Act or an Act of the Scottish Parliament is subject to annulment in pursuance of a resolution of either House of Parliament (unless the regulations were contained in a statutory instrument laid before Parliament by virtue of subsection (2)).</p></content></subsection></section><section eId="section-27"><num>27</num><heading>Interpretation</heading><subsection eId="section-27-1"><num>(1)</num><intro><p>In sections 20 to 26 and this section—</p></intro><hcontainer name="definition"><content><p>“<term refersTo="#term-coronavirus" eId="term-coronavirus">coronavirus</term>” means severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2);</p></content></hcontainer><hcontainer name="definition"><intro><p>“<term refersTo="#term-corporate-insolvency-or-governance-legislation" eId="term-corporate-insolvency-or-governance-legislation">corporate insolvency or governance legislation</term>” means—</p></intro><level class="para1"><num>(a)</num><content><p>the Insolvency Act 1986, except so far as relating to the insolvency or bankruptcy of individuals,</p></content></level><level class="para1"><num>(b)</num><content><p>Part 26A of the Companies Act 2006 (arrangements and reconstructions for companies in financial difficulty),</p></content></level><level class="para1"><num>(c)</num><content><p>the Company Directors Disqualification Act 1986,</p></content></level><level class="para1"><num>(d)</num><content><p>this Act,</p></content></level><level class="para1"><num>(e)</num><content><p>any subordinate legislation made under the enactments specified in paragraphs (a) to (d),</p></content></level><level class="para1"><num>(f)</num><content><p>the Cross-Border Insolvency Regulations 2006 (S.I. 2006/1030), and</p></content></level><level class="para1"><num>(g)</num><content><p>after IP completion day, <ref href="http://www.legislation.gov.uk/european/regulation/2015/0848">Regulation (EU) 2015/848</ref> on insolvency proceedings;</p></content></level></hcontainer><hcontainer name="definition"><intro><p>“<term refersTo="#term-corporate-insolvency-or-restructuring-procedure" eId="term-corporate-insolvency-or-restructuring-procedure">corporate insolvency or restructuring procedure</term>” means—</p></intro><level class="para1"><num>(a)</num><content><p>a moratorium under Part A1 of the Insolvency Act 1986;</p></content></level><level class="para1"><num>(b)</num><content><p>a company voluntary arrangement under Part 1 of that Act (including a moratorium under section 1A of that Act in a case where such a moratorium applies after the coming into force of paragraph 30 of Schedule 3);</p></content></level><level class="para1"><num>(c)</num><content><p>administration under Part 2 of that Act;</p></content></level><level class="para1"><num>(d)</num><content><p>receivership to which Part 3 of that Act applies;</p></content></level><level class="para1"><num>(e)</num><content><p>winding up under Part 4 or 5 of that Act;</p></content></level><level class="para1"><num>(f)</num><content><p>the procedure provided for by Part 26A of the Companies Act 2006;</p></content></level></hcontainer><hcontainer name="definition"><content><p>“<term refersTo="#term-enactment" eId="term-enactment">enactment</term>” includes an Act of the Scottish Parliament and an instrument made under such an Act;</p></content></hcontainer><hcontainer name="definition"><intro><p>“<term refersTo="#term-person-with-corporate-responsibility" eId="term-person-with-corporate-responsibility">person with corporate responsibility</term>” means—</p></intro><level class="para1"><num>(a)</num><content><p>in relation to a company, a director, manager, secretary or other officer of the body,</p></content></level><level class="para1"><num>(b)</num><content><p>in relation to a partnership or limited liability partnership, a partner or member, and</p></content></level><level class="para1"><num>(c)</num><content><p>in relation to any other entity, a person with responsibility for managing the entity;</p></content></level></hcontainer><hcontainer name="definition"><content><p>“<term refersTo="#term-subordinate-legislation" eId="term-subordinate-legislation">subordinate legislation</term>” has the meaning given by section 21(1) of the Interpretation Act 1978.</p></content></hcontainer></subsection><subsection eId="section-27-2"><num>(2)</num><content><p>References to an enactment in subsection (1) include in particular that enactment as applied by any other enactment, with or without modifications, to partnerships, limited liability partnerships or other entities.</p></content></subsection></section></hcontainer>
<section xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-20"><num>20</num><heading>Regulations to amend legislation: Great Britain</heading><subsection eId="section-20-1"><num>(1)</num><intro><p>The Secretary of State may by regulations amend, or modify the effect of, corporate insolvency or governance legislation so as to—</p></intro><level class="para1" eId="section-20-1-a"><num>(a)</num><content><p>change the conditions that must be met before a corporate insolvency or restructuring procedure applies to entities of any description (whether by adding, varying or removing any condition),</p></content></level><level class="para1" eId="section-20-1-b"><num>(b)</num><content><p>change the way in which a corporate insolvency or restructuring procedure applies in relation to entities of any description, or</p></content></level><level class="para1" eId="section-20-1-c"><num>(c)</num><content><p>change or disapply any duty of a person with corporate responsibility or the liability of such a person to any sanction.</p></content></level></subsection><subsection eId="section-20-2"><num>(2)</num><intro><p>Regulations under this section may—</p></intro><level class="para1" eId="section-20-2-a"><num>(a)</num><content><p>make different provision for different purposes;</p></content></level><level class="para1" eId="section-20-2-b"><num>(b)</num><content><p>make provision binding the Crown.</p></content></level></subsection><subsection eId="section-20-3"><num>(3)</num><content><p>Regulations under this section must be made in accordance with sections 21 to 26.</p></content></subsection></section>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-20-1"><num>(1)</num><intro><p>The Secretary of State may by regulations amend, or modify the effect of, corporate insolvency or governance legislation so as to—</p></intro><level class="para1" eId="section-20-1-a"><num>(a)</num><content><p>change the conditions that must be met before a corporate insolvency or restructuring procedure applies to entities of any description (whether by adding, varying or removing any condition),</p></content></level><level class="para1" eId="section-20-1-b"><num>(b)</num><content><p>change the way in which a corporate insolvency or restructuring procedure applies in relation to entities of any description, or</p></content></level><level class="para1" eId="section-20-1-c"><num>(c)</num><content><p>change or disapply any duty of a person with corporate responsibility or the liability of such a person to any sanction.</p></content></level></subsection>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-20-1-a"><num>(a)</num><content><p>change the conditions that must be met before a corporate insolvency or restructuring procedure applies to entities of any description (whether by adding, varying or removing any condition),</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-20-1-b"><num>(b)</num><content><p>change the way in which a corporate insolvency or restructuring procedure applies in relation to entities of any description, or</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-20-1-c"><num>(c)</num><content><p>change or disapply any duty of a person with corporate responsibility or the liability of such a person to any sanction.</p></content></level>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-20-2"><num>(2)</num><intro><p>Regulations under this section may—</p></intro><level class="para1" eId="section-20-2-a"><num>(a)</num><content><p>make different provision for different purposes;</p></content></level><level class="para1" eId="section-20-2-b"><num>(b)</num><content><p>make provision binding the Crown.</p></content></level></subsection>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-20-2-a"><num>(a)</num><content><p>make different provision for different purposes;</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-20-2-b"><num>(b)</num><content><p>make provision binding the Crown.</p></content></level>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-20-3"><num>(3)</num><content><p>Regulations under this section must be made in accordance with sections 21 to 26.</p></content></subsection>
<section xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-21"><num>21</num><heading>Purposes</heading><subsection eId="section-21-1"><num>(1)</num><intro><p>The Secretary of State may only make regulations under section 20(1)(a) or (b) if satisfied that the regulations are expedient for any of the following purposes—</p></intro><level class="para1" eId="section-21-1-a"><num>(a)</num><content><p>reducing, or assisting in the reduction of, the number of entities entering into corporate insolvency or restructuring procedures for reasons relating to the effects of coronavirus on businesses or on the economy of the United Kingdom;</p></content></level><level class="para1" eId="section-21-1-b"><num>(b)</num><content><p>mitigating or otherwise dealing with the effect on corporate insolvency or restructuring procedures of any increase or potential increase in the number of entities entering into those procedures for the reasons referred to in paragraph (a);</p></content></level><level class="para1" eId="section-21-1-c"><num>(c)</num><intro><p>mitigating difficulties that corporate insolvency or restructuring procedures might impose on a business in view of—</p></intro><level class="para2" eId="section-21-1-c-i"><num>(i)</num><content><p>any worsening of the financial position of the business in consequence of, or for reasons relating to, coronavirus,</p></content></level><level class="para2" eId="section-21-1-c-ii"><num>(ii)</num><content><p>constraints on people's ability to work, or to be in proximity to each other, as a result of coronavirus, or</p></content></level><level class="para2" eId="section-21-1-c-iii"><num>(iii)</num><content><p>measures for public health taken in response to coronavirus.</p></content></level></level></subsection><subsection eId="section-21-2"><num>(2)</num><content><p>The Secretary of State may only make regulations under section 20(1)(c) if satisfied that the regulations are expedient for the purpose of securing that the duties of persons with corporate responsibility, or the liability of those persons to any sanction, take due account of the effects of coronavirus on businesses or on the economy of the United Kingdom.</p></content></subsection></section>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-21-1"><num>(1)</num><intro><p>The Secretary of State may only make regulations under section 20(1)(a) or (b) if satisfied that the regulations are expedient for any of the following purposes—</p></intro><level class="para1" eId="section-21-1-a"><num>(a)</num><content><p>reducing, or assisting in the reduction of, the number of entities entering into corporate insolvency or restructuring procedures for reasons relating to the effects of coronavirus on businesses or on the economy of the United Kingdom;</p></content></level><level class="para1" eId="section-21-1-b"><num>(b)</num><content><p>mitigating or otherwise dealing with the effect on corporate insolvency or restructuring procedures of any increase or potential increase in the number of entities entering into those procedures for the reasons referred to in paragraph (a);</p></content></level><level class="para1" eId="section-21-1-c"><num>(c)</num><intro><p>mitigating difficulties that corporate insolvency or restructuring procedures might impose on a business in view of—</p></intro><level class="para2" eId="section-21-1-c-i"><num>(i)</num><content><p>any worsening of the financial position of the business in consequence of, or for reasons relating to, coronavirus,</p></content></level><level class="para2" eId="section-21-1-c-ii"><num>(ii)</num><content><p>constraints on people's ability to work, or to be in proximity to each other, as a result of coronavirus, or</p></content></level><level class="para2" eId="section-21-1-c-iii"><num>(iii)</num><content><p>measures for public health taken in response to coronavirus.</p></content></level></level></subsection>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-21-1-a"><num>(a)</num><content><p>reducing, or assisting in the reduction of, the number of entities entering into corporate insolvency or restructuring procedures for reasons relating to the effects of coronavirus on businesses or on the economy of the United Kingdom;</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-21-1-b"><num>(b)</num><content><p>mitigating or otherwise dealing with the effect on corporate insolvency or restructuring procedures of any increase or potential increase in the number of entities entering into those procedures for the reasons referred to in paragraph (a);</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-21-1-c"><num>(c)</num><intro><p>mitigating difficulties that corporate insolvency or restructuring procedures might impose on a business in view of—</p></intro><level class="para2" eId="section-21-1-c-i"><num>(i)</num><content><p>any worsening of the financial position of the business in consequence of, or for reasons relating to, coronavirus,</p></content></level><level class="para2" eId="section-21-1-c-ii"><num>(ii)</num><content><p>constraints on people's ability to work, or to be in proximity to each other, as a result of coronavirus, or</p></content></level><level class="para2" eId="section-21-1-c-iii"><num>(iii)</num><content><p>measures for public health taken in response to coronavirus.</p></content></level></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para2" eId="section-21-1-c-i"><num>(i)</num><content><p>any worsening of the financial position of the business in consequence of, or for reasons relating to, coronavirus,</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para2" eId="section-21-1-c-ii"><num>(ii)</num><content><p>constraints on people's ability to work, or to be in proximity to each other, as a result of coronavirus, or</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para2" eId="section-21-1-c-iii"><num>(iii)</num><content><p>measures for public health taken in response to coronavirus.</p></content></level>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-21-2"><num>(2)</num><content><p>The Secretary of State may only make regulations under section 20(1)(c) if satisfied that the regulations are expedient for the purpose of securing that the duties of persons with corporate responsibility, or the liability of those persons to any sanction, take due account of the effects of coronavirus on businesses or on the economy of the United Kingdom.</p></content></subsection>
<section xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-22"><num>22</num><heading>Restrictions</heading><subsection eId="section-22-1"><num>(1)</num><content><p>Before making regulations under section 20 the Secretary of State must consider the effect of the regulations on persons likely to be affected by them (for example, debtors, creditors or employees).</p></content></subsection><subsection eId="section-22-2"><num>(2)</num><intro><p>The Secretary of State may only make regulations under section 20 if satisfied—</p></intro><level class="para1" eId="section-22-2-a"><num>(a)</num><content><p>that the need for the provision made by the regulations is urgent,</p></content></level><level class="para1" eId="section-22-2-b"><num>(b)</num><content><p>that the provision made by the regulations is proportionate to the purpose for which it is made,</p></content></level><level class="para1" eId="section-22-2-c"><num>(c)</num><content><p>that it is not practicable without legislation to bring about the result intended to be brought about by that provision, and</p></content></level><level class="para1" eId="section-22-2-d"><num>(d)</num><content><p>if the Secretary of State could make the same provision in other subordinate legislation, that doing so would risk not achieving the purpose for which the regulations are made (because of possible delay or for any other reason).</p></content></level></subsection><subsection eId="section-22-3"><num>(3)</num><intro><p>Regulations under section 20—</p></intro><level class="para1" eId="section-22-3-a"><num>(a)</num><content><p>may not create a criminal offence or civil penalty (but may modify the circumstances in which a person is guilty of an existing offence or liable for an existing civil penalty);</p></content></level><level class="para1" eId="section-22-3-b"><num>(b)</num><content><p>may not make provision so as to impose or increase a fee.</p></content></level></subsection><subsection eId="section-22-4"><num>(4)</num><content><p>Regulations under section 20 may not make provision that could be made by an Act of the Scottish Parliament unless the Secretary of State has first consulted the Scottish Ministers.</p></content></subsection></section>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-22-1"><num>(1)</num><content><p>Before making regulations under section 20 the Secretary of State must consider the effect of the regulations on persons likely to be affected by them (for example, debtors, creditors or employees).</p></content></subsection>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-22-2"><num>(2)</num><intro><p>The Secretary of State may only make regulations under section 20 if satisfied—</p></intro><level class="para1" eId="section-22-2-a"><num>(a)</num><content><p>that the need for the provision made by the regulations is urgent,</p></content></level><level class="para1" eId="section-22-2-b"><num>(b)</num><content><p>that the provision made by the regulations is proportionate to the purpose for which it is made,</p></content></level><level class="para1" eId="section-22-2-c"><num>(c)</num><content><p>that it is not practicable without legislation to bring about the result intended to be brought about by that provision, and</p></content></level><level class="para1" eId="section-22-2-d"><num>(d)</num><content><p>if the Secretary of State could make the same provision in other subordinate legislation, that doing so would risk not achieving the purpose for which the regulations are made (because of possible delay or for any other reason).</p></content></level></subsection>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-22-2-a"><num>(a)</num><content><p>that the need for the provision made by the regulations is urgent,</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-22-2-b"><num>(b)</num><content><p>that the provision made by the regulations is proportionate to the purpose for which it is made,</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-22-2-c"><num>(c)</num><content><p>that it is not practicable without legislation to bring about the result intended to be brought about by that provision, and</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-22-2-d"><num>(d)</num><content><p>if the Secretary of State could make the same provision in other subordinate legislation, that doing so would risk not achieving the purpose for which the regulations are made (because of possible delay or for any other reason).</p></content></level>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-22-3"><num>(3)</num><intro><p>Regulations under section 20—</p></intro><level class="para1" eId="section-22-3-a"><num>(a)</num><content><p>may not create a criminal offence or civil penalty (but may modify the circumstances in which a person is guilty of an existing offence or liable for an existing civil penalty);</p></content></level><level class="para1" eId="section-22-3-b"><num>(b)</num><content><p>may not make provision so as to impose or increase a fee.</p></content></level></subsection>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-22-3-a"><num>(a)</num><content><p>may not create a criminal offence or civil penalty (but may modify the circumstances in which a person is guilty of an existing offence or liable for an existing civil penalty);</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-22-3-b"><num>(b)</num><content><p>may not make provision so as to impose or increase a fee.</p></content></level>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-22-4"><num>(4)</num><content><p>Regulations under section 20 may not make provision that could be made by an Act of the Scottish Parliament unless the Secretary of State has first consulted the Scottish Ministers.</p></content></subsection>
<section xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-23"><num>23</num><heading>Time-limited effect</heading><subsection eId="section-23-1"><num>(1)</num><intro><p>Regulations under section 20 must be framed so that any provision made by them—</p></intro><level class="para1" eId="section-23-1-a"><num>(a)</num><content><p>has effect only for a period not exceeding six months, or</p></content></level><level class="para1" eId="section-23-1-b"><num>(b)</num><content><p>applies only in relation to circumstances occurring in a period not exceeding six months.</p></content></level></subsection><subsection eId="section-23-2"><num>(2)</num><intro><p>This does not prevent further regulations under section 20 from—</p></intro><level class="para1" eId="section-23-2-a"><num>(a)</num><content><p>making the same provision for, or applying in relation to, subsequent periods (not exceeding six months at a time);</p></content></level><level class="para1" eId="section-23-2-b"><num>(b)</num><content><p>extending (by up to six months) the period for or in relation to which earlier regulations under that section apply.</p></content></level></subsection><subsection eId="section-23-3"><num>(3)</num><content><p>The Secretary of State must keep regulations under section 20 under review during the period for which they have effect or in relation to which they apply.</p></content></subsection><subsection eId="section-23-4"><num>(4)</num><intro><p>If on such a review the Secretary of State is satisfied that that period—</p></intro><level class="para1" eId="section-23-4-a"><num>(a)</num><content><p>is longer than expedient for the purpose for which the regulations were made, or</p></content></level><level class="para1" eId="section-23-4-b"><num>(b)</num><content><p>has ceased to be proportionate to that purpose,</p></content></level><wrapUp><p>the Secretary of State must by regulations under this subsection revoke or amend the regulations as appropriate.</p></wrapUp></subsection><subsection eId="section-23-5"><num>(5)</num><content><p>Regulations under subsection (4) may contain transitional provision or savings.</p></content></subsection></section>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-23-1"><num>(1)</num><intro><p>Regulations under section 20 must be framed so that any provision made by them—</p></intro><level class="para1" eId="section-23-1-a"><num>(a)</num><content><p>has effect only for a period not exceeding six months, or</p></content></level><level class="para1" eId="section-23-1-b"><num>(b)</num><content><p>applies only in relation to circumstances occurring in a period not exceeding six months.</p></content></level></subsection>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-23-1-a"><num>(a)</num><content><p>has effect only for a period not exceeding six months, or</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-23-1-b"><num>(b)</num><content><p>applies only in relation to circumstances occurring in a period not exceeding six months.</p></content></level>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-23-2"><num>(2)</num><intro><p>This does not prevent further regulations under section 20 from—</p></intro><level class="para1" eId="section-23-2-a"><num>(a)</num><content><p>making the same provision for, or applying in relation to, subsequent periods (not exceeding six months at a time);</p></content></level><level class="para1" eId="section-23-2-b"><num>(b)</num><content><p>extending (by up to six months) the period for or in relation to which earlier regulations under that section apply.</p></content></level></subsection>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-23-2-a"><num>(a)</num><content><p>making the same provision for, or applying in relation to, subsequent periods (not exceeding six months at a time);</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-23-2-b"><num>(b)</num><content><p>extending (by up to six months) the period for or in relation to which earlier regulations under that section apply.</p></content></level>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-23-3"><num>(3)</num><content><p>The Secretary of State must keep regulations under section 20 under review during the period for which they have effect or in relation to which they apply.</p></content></subsection>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-23-4"><num>(4)</num><intro><p>If on such a review the Secretary of State is satisfied that that period—</p></intro><level class="para1" eId="section-23-4-a"><num>(a)</num><content><p>is longer than expedient for the purpose for which the regulations were made, or</p></content></level><level class="para1" eId="section-23-4-b"><num>(b)</num><content><p>has ceased to be proportionate to that purpose,</p></content></level><wrapUp><p>the Secretary of State must by regulations under this subsection revoke or amend the regulations as appropriate.</p></wrapUp></subsection>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-23-4-a"><num>(a)</num><content><p>is longer than expedient for the purpose for which the regulations were made, or</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-23-4-b"><num>(b)</num><content><p>has ceased to be proportionate to that purpose,</p></content></level>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-23-5"><num>(5)</num><content><p>Regulations under subsection (4) may contain transitional provision or savings.</p></content></subsection>
<section xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" eId="section-24"><num>24</num><heading>Expiry</heading><subsection eId="section-24-1"><num>(1)</num><content><p>The Secretary of State may not make regulations under section 20 after <ins class="substitution first last" ukl:ChangeId="key-5e06bb41e02966028eae4eef7af9a54c-1646751873583" ukl:CommentaryRef="key-5e06bb41e02966028eae4eef7af9a54c"><noteRef uk:name="commentary" href="#key-5e06bb41e02966028eae4eef7af9a54c" class="commentary"/>29 April 2022</ins>.</p></content></subsection><subsection eId="section-24-2"><num>(2)</num><intro><p>Where regulations under section 20 are in force on the date specified in subsection (1), that subsection does not—</p></intro><level class="para1" eId="section-24-2-a"><num>(a)</num><content><p>affect the continued operation of the regulations, or</p></content></level><level class="para1" eId="section-24-2-b"><num>(b)</num><content><p>prevent the making of further regulations under section 20 on one or more occasions, where those further regulations make the same provision for, or applying in relation to, subsequent periods (not exceeding six months at a time).</p></content></level></subsection><subsection eId="section-24-3"><num>(3)</num><content><p>The Secretary of State may by regulations substitute a later date for the date for the time being specified in subsection (1).</p></content></subsection><subsection eId="section-24-4"><num>(4)</num><intro><p>The power in subsection (3)—</p></intro><level class="para1" eId="section-24-4-a"><num>(a)</num><intro><p>may not be exercised so as to substitute a date which is—</p></intro><level class="para2" eId="section-24-4-a-i"><num>(i)</num><content><p>after the period of one year beginning with the date for the time being specified in subsection (1), or</p></content></level><level class="para2" eId="section-24-4-a-ii"><num>(ii)</num><content><p>after the period of two years beginning with the date on which this Act is passed, but</p></content></level></level><level class="para1" eId="section-24-4-b"><num>(b)</num><content><p>may be exercised more than once.</p></content></level></subsection></section>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" eId="section-24-1"><num>(1)</num><content><p>The Secretary of State may not make regulations under section 20 after <ins class="substitution first last" ukl:ChangeId="key-5e06bb41e02966028eae4eef7af9a54c-1646751873583" ukl:CommentaryRef="key-5e06bb41e02966028eae4eef7af9a54c"><noteRef uk:name="commentary" href="#key-5e06bb41e02966028eae4eef7af9a54c" class="commentary"/>29 April 2022</ins>.</p></content></subsection>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-24-2"><num>(2)</num><intro><p>Where regulations under section 20 are in force on the date specified in subsection (1), that subsection does not—</p></intro><level class="para1" eId="section-24-2-a"><num>(a)</num><content><p>affect the continued operation of the regulations, or</p></content></level><level class="para1" eId="section-24-2-b"><num>(b)</num><content><p>prevent the making of further regulations under section 20 on one or more occasions, where those further regulations make the same provision for, or applying in relation to, subsequent periods (not exceeding six months at a time).</p></content></level></subsection>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-24-2-a"><num>(a)</num><content><p>affect the continued operation of the regulations, or</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-24-2-b"><num>(b)</num><content><p>prevent the making of further regulations under section 20 on one or more occasions, where those further regulations make the same provision for, or applying in relation to, subsequent periods (not exceeding six months at a time).</p></content></level>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-24-3"><num>(3)</num><content><p>The Secretary of State may by regulations substitute a later date for the date for the time being specified in subsection (1).</p></content></subsection>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-24-4"><num>(4)</num><intro><p>The power in subsection (3)—</p></intro><level class="para1" eId="section-24-4-a"><num>(a)</num><intro><p>may not be exercised so as to substitute a date which is—</p></intro><level class="para2" eId="section-24-4-a-i"><num>(i)</num><content><p>after the period of one year beginning with the date for the time being specified in subsection (1), or</p></content></level><level class="para2" eId="section-24-4-a-ii"><num>(ii)</num><content><p>after the period of two years beginning with the date on which this Act is passed, but</p></content></level></level><level class="para1" eId="section-24-4-b"><num>(b)</num><content><p>may be exercised more than once.</p></content></level></subsection>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-24-4-a"><num>(a)</num><intro><p>may not be exercised so as to substitute a date which is—</p></intro><level class="para2" eId="section-24-4-a-i"><num>(i)</num><content><p>after the period of one year beginning with the date for the time being specified in subsection (1), or</p></content></level><level class="para2" eId="section-24-4-a-ii"><num>(ii)</num><content><p>after the period of two years beginning with the date on which this Act is passed, but</p></content></level></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para2" eId="section-24-4-a-i"><num>(i)</num><content><p>after the period of one year beginning with the date for the time being specified in subsection (1), or</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para2" eId="section-24-4-a-ii"><num>(ii)</num><content><p>after the period of two years beginning with the date on which this Act is passed, but</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-24-4-b"><num>(b)</num><content><p>may be exercised more than once.</p></content></level>
<section xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-25"><num>25</num><heading>Consequential provision etc</heading><subsection eId="section-25-1"><num>(1)</num><content><p>The Secretary of State may by regulations make consequential, incidental or supplementary provision, or transitional provision or savings, in connection with provision made by regulations under section 20.</p></content></subsection><subsection eId="section-25-2"><num>(2)</num><intro><p>Regulations under this section may—</p></intro><level class="para1" eId="section-25-2-a"><num>(a)</num><content><p>make provision by amending or modifying the effect of any enactment (including this Act);</p></content></level><level class="para1" eId="section-25-2-b"><num>(b)</num><content><p>make different provision for different purposes;</p></content></level><level class="para1" eId="section-25-2-c"><num>(c)</num><content><p>make provision binding the Crown.</p></content></level></subsection></section>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-25-1"><num>(1)</num><content><p>The Secretary of State may by regulations make consequential, incidental or supplementary provision, or transitional provision or savings, in connection with provision made by regulations under section 20.</p></content></subsection>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-25-2"><num>(2)</num><intro><p>Regulations under this section may—</p></intro><level class="para1" eId="section-25-2-a"><num>(a)</num><content><p>make provision by amending or modifying the effect of any enactment (including this Act);</p></content></level><level class="para1" eId="section-25-2-b"><num>(b)</num><content><p>make different provision for different purposes;</p></content></level><level class="para1" eId="section-25-2-c"><num>(c)</num><content><p>make provision binding the Crown.</p></content></level></subsection>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-25-2-a"><num>(a)</num><content><p>make provision by amending or modifying the effect of any enactment (including this Act);</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-25-2-b"><num>(b)</num><content><p>make different provision for different purposes;</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-25-2-c"><num>(c)</num><content><p>make provision binding the Crown.</p></content></level>
<section xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-26"><num>26</num><heading>Procedure for regulations</heading><subsection eId="section-26-1"><num>(1)</num><content><p>Regulations under sections 20 to 25 are to be made by statutory instrument.</p></content></subsection><subsection eId="section-26-2"><num>(2)</num><intro><p>A statutory instrument containing—</p></intro><level class="para1" eId="section-26-2-a"><num>(a)</num><content><p>regulations made under section 20, other than one to which subsection (6)(a) applies, or</p></content></level><level class="para1" eId="section-26-2-b"><num>(b)</num><content><p>regulations made under section 25 which make provision by amending an Act or an Act of the Scottish Parliament,</p></content></level><wrapUp><p>must be laid before Parliament as soon as reasonably practicable after being made.</p></wrapUp></subsection><subsection eId="section-26-3"><num>(3)</num><content><p>Regulations contained in a statutory instrument laid before Parliament by virtue of subsection (2) cease to have effect at the end of the period of 40 days beginning with the day on which the instrument is made, unless during that period the instrument is approved by a resolution of each House of Parliament.</p></content></subsection><subsection eId="section-26-4"><num>(4)</num><intro><p>In calculating the period of 40 days, no account is to be taken of any time during which—</p></intro><level class="para1" eId="section-26-4-a"><num>(a)</num><content><p>Parliament is dissolved or prorogued, or</p></content></level><level class="para1" eId="section-26-4-b"><num>(b)</num><content><p>both Houses of Parliament are adjourned for more than 4 days.</p></content></level></subsection><subsection eId="section-26-5"><num>(5)</num><intro><p>Where regulations cease to have effect as a result of subsection (3) that does not—</p></intro><level class="para1" eId="section-26-5-a"><num>(a)</num><content><p>affect anything previously done under or by virtue of the regulations, or</p></content></level><level class="para1" eId="section-26-5-b"><num>(b)</num><content><p>prevent the making of new regulations.</p></content></level></subsection><subsection eId="section-26-6"><num>(6)</num><intro><p>A statutory instrument containing—</p></intro><level class="para1" eId="section-26-6-a"><num>(a)</num><content><p>regulations under section 20 which merely revoke other regulations under that section (with or without transitional provision), or</p></content></level><level class="para1" eId="section-26-6-b"><num>(b)</num><content><p>regulations under section 23(4),</p></content></level><wrapUp><p>is subject to annulment in pursuance of a resolution of either House of Parliament.</p></wrapUp></subsection><subsection eId="section-26-7"><num>(7)</num><content><p>Regulations under section 24(3) may not be made unless a draft of the statutory instrument containing them has been laid before, and approved by a resolution of, each House of Parliament.</p></content></subsection><subsection eId="section-26-8"><num>(8)</num><content><p>A statutory instrument containing regulations under section 25 which do not make provision by amending an Act or an Act of the Scottish Parliament is subject to annulment in pursuance of a resolution of either House of Parliament (unless the regulations were contained in a statutory instrument laid before Parliament by virtue of subsection (2)).</p></content></subsection></section>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-26-1"><num>(1)</num><content><p>Regulations under sections 20 to 25 are to be made by statutory instrument.</p></content></subsection>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-26-2"><num>(2)</num><intro><p>A statutory instrument containing—</p></intro><level class="para1" eId="section-26-2-a"><num>(a)</num><content><p>regulations made under section 20, other than one to which subsection (6)(a) applies, or</p></content></level><level class="para1" eId="section-26-2-b"><num>(b)</num><content><p>regulations made under section 25 which make provision by amending an Act or an Act of the Scottish Parliament,</p></content></level><wrapUp><p>must be laid before Parliament as soon as reasonably practicable after being made.</p></wrapUp></subsection>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-26-2-a"><num>(a)</num><content><p>regulations made under section 20, other than one to which subsection (6)(a) applies, or</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-26-2-b"><num>(b)</num><content><p>regulations made under section 25 which make provision by amending an Act or an Act of the Scottish Parliament,</p></content></level>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-26-3"><num>(3)</num><content><p>Regulations contained in a statutory instrument laid before Parliament by virtue of subsection (2) cease to have effect at the end of the period of 40 days beginning with the day on which the instrument is made, unless during that period the instrument is approved by a resolution of each House of Parliament.</p></content></subsection>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-26-4"><num>(4)</num><intro><p>In calculating the period of 40 days, no account is to be taken of any time during which—</p></intro><level class="para1" eId="section-26-4-a"><num>(a)</num><content><p>Parliament is dissolved or prorogued, or</p></content></level><level class="para1" eId="section-26-4-b"><num>(b)</num><content><p>both Houses of Parliament are adjourned for more than 4 days.</p></content></level></subsection>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-26-4-a"><num>(a)</num><content><p>Parliament is dissolved or prorogued, or</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-26-4-b"><num>(b)</num><content><p>both Houses of Parliament are adjourned for more than 4 days.</p></content></level>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-26-5"><num>(5)</num><intro><p>Where regulations cease to have effect as a result of subsection (3) that does not—</p></intro><level class="para1" eId="section-26-5-a"><num>(a)</num><content><p>affect anything previously done under or by virtue of the regulations, or</p></content></level><level class="para1" eId="section-26-5-b"><num>(b)</num><content><p>prevent the making of new regulations.</p></content></level></subsection>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-26-5-a"><num>(a)</num><content><p>affect anything previously done under or by virtue of the regulations, or</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-26-5-b"><num>(b)</num><content><p>prevent the making of new regulations.</p></content></level>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-26-6"><num>(6)</num><intro><p>A statutory instrument containing—</p></intro><level class="para1" eId="section-26-6-a"><num>(a)</num><content><p>regulations under section 20 which merely revoke other regulations under that section (with or without transitional provision), or</p></content></level><level class="para1" eId="section-26-6-b"><num>(b)</num><content><p>regulations under section 23(4),</p></content></level><wrapUp><p>is subject to annulment in pursuance of a resolution of either House of Parliament.</p></wrapUp></subsection>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-26-6-a"><num>(a)</num><content><p>regulations under section 20 which merely revoke other regulations under that section (with or without transitional provision), or</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-26-6-b"><num>(b)</num><content><p>regulations under section 23(4),</p></content></level>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-26-7"><num>(7)</num><content><p>Regulations under section 24(3) may not be made unless a draft of the statutory instrument containing them has been laid before, and approved by a resolution of, each House of Parliament.</p></content></subsection>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-26-8"><num>(8)</num><content><p>A statutory instrument containing regulations under section 25 which do not make provision by amending an Act or an Act of the Scottish Parliament is subject to annulment in pursuance of a resolution of either House of Parliament (unless the regulations were contained in a statutory instrument laid before Parliament by virtue of subsection (2)).</p></content></subsection>
<section xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-27"><num>27</num><heading>Interpretation</heading><subsection eId="section-27-1"><num>(1)</num><intro><p>In sections 20 to 26 and this section—</p></intro><hcontainer name="definition"><content><p>“<term refersTo="#term-coronavirus" eId="term-coronavirus">coronavirus</term>” means severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2);</p></content></hcontainer><hcontainer name="definition"><intro><p>“<term refersTo="#term-corporate-insolvency-or-governance-legislation" eId="term-corporate-insolvency-or-governance-legislation">corporate insolvency or governance legislation</term>” means—</p></intro><level class="para1"><num>(a)</num><content><p>the Insolvency Act 1986, except so far as relating to the insolvency or bankruptcy of individuals,</p></content></level><level class="para1"><num>(b)</num><content><p>Part 26A of the Companies Act 2006 (arrangements and reconstructions for companies in financial difficulty),</p></content></level><level class="para1"><num>(c)</num><content><p>the Company Directors Disqualification Act 1986,</p></content></level><level class="para1"><num>(d)</num><content><p>this Act,</p></content></level><level class="para1"><num>(e)</num><content><p>any subordinate legislation made under the enactments specified in paragraphs (a) to (d),</p></content></level><level class="para1"><num>(f)</num><content><p>the Cross-Border Insolvency Regulations 2006 (S.I. 2006/1030), and</p></content></level><level class="para1"><num>(g)</num><content><p>after IP completion day, <ref href="http://www.legislation.gov.uk/european/regulation/2015/0848">Regulation (EU) 2015/848</ref> on insolvency proceedings;</p></content></level></hcontainer><hcontainer name="definition"><intro><p>“<term refersTo="#term-corporate-insolvency-or-restructuring-procedure" eId="term-corporate-insolvency-or-restructuring-procedure">corporate insolvency or restructuring procedure</term>” means—</p></intro><level class="para1"><num>(a)</num><content><p>a moratorium under Part A1 of the Insolvency Act 1986;</p></content></level><level class="para1"><num>(b)</num><content><p>a company voluntary arrangement under Part 1 of that Act (including a moratorium under section 1A of that Act in a case where such a moratorium applies after the coming into force of paragraph 30 of Schedule 3);</p></content></level><level class="para1"><num>(c)</num><content><p>administration under Part 2 of that Act;</p></content></level><level class="para1"><num>(d)</num><content><p>receivership to which Part 3 of that Act applies;</p></content></level><level class="para1"><num>(e)</num><content><p>winding up under Part 4 or 5 of that Act;</p></content></level><level class="para1"><num>(f)</num><content><p>the procedure provided for by Part 26A of the Companies Act 2006;</p></content></level></hcontainer><hcontainer name="definition"><content><p>“<term refersTo="#term-enactment" eId="term-enactment">enactment</term>” includes an Act of the Scottish Parliament and an instrument made under such an Act;</p></content></hcontainer><hcontainer name="definition"><intro><p>“<term refersTo="#term-person-with-corporate-responsibility" eId="term-person-with-corporate-responsibility">person with corporate responsibility</term>” means—</p></intro><level class="para1"><num>(a)</num><content><p>in relation to a company, a director, manager, secretary or other officer of the body,</p></content></level><level class="para1"><num>(b)</num><content><p>in relation to a partnership or limited liability partnership, a partner or member, and</p></content></level><level class="para1"><num>(c)</num><content><p>in relation to any other entity, a person with responsibility for managing the entity;</p></content></level></hcontainer><hcontainer name="definition"><content><p>“<term refersTo="#term-subordinate-legislation" eId="term-subordinate-legislation">subordinate legislation</term>” has the meaning given by section 21(1) of the Interpretation Act 1978.</p></content></hcontainer></subsection><subsection eId="section-27-2"><num>(2)</num><content><p>References to an enactment in subsection (1) include in particular that enactment as applied by any other enactment, with or without modifications, to partnerships, limited liability partnerships or other entities.</p></content></subsection></section>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-27-1"><num>(1)</num><intro><p>In sections 20 to 26 and this section—</p></intro><hcontainer name="definition"><content><p>“<term refersTo="#term-coronavirus" eId="term-coronavirus">coronavirus</term>” means severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2);</p></content></hcontainer><hcontainer name="definition"><intro><p>“<term refersTo="#term-corporate-insolvency-or-governance-legislation" eId="term-corporate-insolvency-or-governance-legislation">corporate insolvency or governance legislation</term>” means—</p></intro><level class="para1"><num>(a)</num><content><p>the Insolvency Act 1986, except so far as relating to the insolvency or bankruptcy of individuals,</p></content></level><level class="para1"><num>(b)</num><content><p>Part 26A of the Companies Act 2006 (arrangements and reconstructions for companies in financial difficulty),</p></content></level><level class="para1"><num>(c)</num><content><p>the Company Directors Disqualification Act 1986,</p></content></level><level class="para1"><num>(d)</num><content><p>this Act,</p></content></level><level class="para1"><num>(e)</num><content><p>any subordinate legislation made under the enactments specified in paragraphs (a) to (d),</p></content></level><level class="para1"><num>(f)</num><content><p>the Cross-Border Insolvency Regulations 2006 (S.I. 2006/1030), and</p></content></level><level class="para1"><num>(g)</num><content><p>after IP completion day, <ref href="http://www.legislation.gov.uk/european/regulation/2015/0848">Regulation (EU) 2015/848</ref> on insolvency proceedings;</p></content></level></hcontainer><hcontainer name="definition"><intro><p>“<term refersTo="#term-corporate-insolvency-or-restructuring-procedure" eId="term-corporate-insolvency-or-restructuring-procedure">corporate insolvency or restructuring procedure</term>” means—</p></intro><level class="para1"><num>(a)</num><content><p>a moratorium under Part A1 of the Insolvency Act 1986;</p></content></level><level class="para1"><num>(b)</num><content><p>a company voluntary arrangement under Part 1 of that Act (including a moratorium under section 1A of that Act in a case where such a moratorium applies after the coming into force of paragraph 30 of Schedule 3);</p></content></level><level class="para1"><num>(c)</num><content><p>administration under Part 2 of that Act;</p></content></level><level class="para1"><num>(d)</num><content><p>receivership to which Part 3 of that Act applies;</p></content></level><level class="para1"><num>(e)</num><content><p>winding up under Part 4 or 5 of that Act;</p></content></level><level class="para1"><num>(f)</num><content><p>the procedure provided for by Part 26A of the Companies Act 2006;</p></content></level></hcontainer><hcontainer name="definition"><content><p>“<term refersTo="#term-enactment" eId="term-enactment">enactment</term>” includes an Act of the Scottish Parliament and an instrument made under such an Act;</p></content></hcontainer><hcontainer name="definition"><intro><p>“<term refersTo="#term-person-with-corporate-responsibility" eId="term-person-with-corporate-responsibility">person with corporate responsibility</term>” means—</p></intro><level class="para1"><num>(a)</num><content><p>in relation to a company, a director, manager, secretary or other officer of the body,</p></content></level><level class="para1"><num>(b)</num><content><p>in relation to a partnership or limited liability partnership, a partner or member, and</p></content></level><level class="para1"><num>(c)</num><content><p>in relation to any other entity, a person with responsibility for managing the entity;</p></content></level></hcontainer><hcontainer name="definition"><content><p>“<term refersTo="#term-subordinate-legislation" eId="term-subordinate-legislation">subordinate legislation</term>” has the meaning given by section 21(1) of the Interpretation Act 1978.</p></content></hcontainer></subsection>
<hcontainer xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" name="crossheading" class="schGroup7"><heading>Corporation Tax Act 2009</heading><paragraph eId="schedule-9-paragraph-41" class="schProv1"><num>41</num><content><p>In section 1319 of the Corporation Tax Act 2009 (other definitions), in paragraph (b) of the definition of “statutory insolvency arrangement”, after “Part 26” insert “or 26A”.</p></content></paragraph></hcontainer>
<hcontainer xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" name="crossheading" class="schGroup7"><heading>Content of application to the High Court for extension of moratorium</heading><paragraph eId="schedule-8-paragraph-31" class="schProv1"><num>31</num><subparagraph eId="schedule-8-paragraph-31-1"><num>(1)</num><intro><p>An application by the directors of a company for the extension of a moratorium under Article <ref href="#d25e6377">13CD</ref> of the Insolvency (Northern Ireland) Order 1989 must state—</p></intro><level class="para1" eId="schedule-8-paragraph-31-1-a"><num>(a)</num><content><p>that it is made under that Article,</p></content></level><level class="para1" eId="schedule-8-paragraph-31-1-b"><num>(b)</num><content><p>the length of the extension sought,</p></content></level><level class="para1" eId="schedule-8-paragraph-31-1-c"><num>(c)</num><content><p>identification details for the company to which the application relates, and</p></content></level><level class="para1" eId="schedule-8-paragraph-31-1-d"><num>(d)</num><content><p>the company’s address for service.</p></content></level></subparagraph><subparagraph eId="schedule-8-paragraph-31-2"><num>(2)</num><content><p>The application must be authenticated by or on behalf of the directors (see paragraph <ref href="#schedule-8-paragraph-49">49</ref>).</p></content></subparagraph></paragraph></hcontainer>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" eId="schedule-4-paragraph-53" class="schProv1"><num>53</num><content><p><mod>Section <ref href="#d25e5168">A54</ref><ref href="#d25e5172">(1)</ref> of the Insolvency Act 1986 has effect as if for the definition of “the court” there were substituted—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="double"><hcontainer name="definition"><content><p>“the court”, in relation to a company, means a court having jurisdiction to wind up the company;</p></content></hcontainer></quotedStructure><inline name="appendText">.</inline></mod></p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-4-paragraph-56" class="schProv1"><num>56</num><intro><p>A notice under section <ref href="#d25e433">A6</ref><ref href="#d25e443">(1)(a)</ref> of the Insolvency Act 1986 must state—</p></intro><level class="para1" eId="schedule-4-paragraph-56-a"><num>(a)</num><content><p>the company’s address for service, and</p></content></level><level class="para1" eId="schedule-4-paragraph-56-b"><num>(b)</num><content><p>the court in which the documents are to be lodged under section <ref href="#d25e268">A3</ref> or the application under section <ref href="#d25e320">A4</ref> or <ref href="#d25e375">A5</ref> is to be made.</p></content></level></paragraph>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="schedule-4-paragraph-56-a"><num>(a)</num><content><p>the company’s address for service, and</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="schedule-4-paragraph-56-b"><num>(b)</num><content><p>the court in which the documents are to be lodged under section <ref href="#d25e268">A3</ref> or the application under section <ref href="#d25e320">A4</ref> or <ref href="#d25e375">A5</ref> is to be made.</p></content></level>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-4-paragraph-59" class="schProv1"><num>59</num><intro><p>A notice under section <ref href="#d25e618">A8</ref><ref href="#d25e628">(2)</ref> of the Insolvency Act 1986 must—</p></intro><level class="para1" eId="schedule-4-paragraph-59-a"><num>(a)</num><content><p>state that it is given by the monitor acting in that capacity, and</p></content></level><level class="para1" eId="schedule-4-paragraph-59-b"><num>(b)</num><content><p>state the name and contact details of the monitor.</p></content></level></paragraph>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="schedule-4-paragraph-59-a"><num>(a)</num><content><p>state that it is given by the monitor acting in that capacity, and</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="schedule-4-paragraph-59-b"><num>(b)</num><content><p>state the name and contact details of the monitor.</p></content></level>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-4-paragraph-62" class="schProv1"><num>62</num><content><p>Each statement under section <ref href="#d25e841">A10</ref><ref href="#d25e857">(1)(b)</ref> to <ref href="#d25e884">(d)</ref> or <ref href="#d25e920">A11</ref><ref href="#d25e936">(1)(b)</ref> to <ref href="#d25e969">(e)</ref> of the Insolvency Act 1986 must be made within the period of 3 days ending with the day on which the documents under section <ref href="#d25e841">A10</ref><ref href="#d25e851">(1)(a)</ref> to <ref href="#d25e884">(d)</ref> or <ref href="#d25e920">A11</ref><ref href="#d25e930">(1)(a)</ref> to <ref href="#d25e969">(e)</ref> are lodged in the court (or, if the documents are lodged on different days, the last of those days).</p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-4-paragraph-70" class="schProv1"><num>70</num><content><p>A statement under section <ref href="#d25e1090">A13</ref><ref href="#d25e1100">(2)</ref> must be made within the period of 3 days ending with the day on which the application under that section is made.</p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-4-paragraph-76" class="schProv1"><num>76</num><subparagraph eId="schedule-4-paragraph-76-1"><num>(1)</num><content><p>A notice under section <ref href="#d25e3388">A38</ref>(1) of the Insolvency Act 1986 must be lodged in the court as soon as practicable after the duty in that subsection arises.</p></content></subparagraph><subparagraph eId="schedule-4-paragraph-76-2"><num>(2)</num><intro><p>The notice must state—</p></intro><level class="para1" eId="schedule-4-paragraph-76-2-a"><num>(a)</num><content><p>the provision under which it is given,</p></content></level><level class="para1" eId="schedule-4-paragraph-76-2-b"><num>(b)</num><content><p>the nature of the notice,</p></content></level><level class="para1" eId="schedule-4-paragraph-76-2-c"><num>(c)</num><content><p>the date of the notice,</p></content></level><level class="para1" eId="schedule-4-paragraph-76-2-d"><num>(d)</num><content><p>the name and contact details of the monitor,</p></content></level><level class="para1" eId="schedule-4-paragraph-76-2-e"><num>(e)</num><content><p>the identification details for the company to which it relates,</p></content></level><level class="para1" eId="schedule-4-paragraph-76-2-f"><num>(f)</num><content><p>the grounds on which the moratorium is being terminated,</p></content></level><level class="para1" eId="schedule-4-paragraph-76-2-g"><num>(g)</num><content><p>the monitor’s reasons for concluding that those grounds are made out,</p></content></level><level class="para1" eId="schedule-4-paragraph-76-2-h"><num>(h)</num><content><p>the date on which the monitor concluded that those grounds were made out, and</p></content></level><level class="para1" eId="schedule-4-paragraph-76-2-i"><num>(i)</num><content><p>the court in which the notice is to be lodged.</p></content></level></subparagraph><subparagraph eId="schedule-4-paragraph-76-3"><num>(3)</num><content><p>The notice must be authenticated by or on behalf of the monitor.</p></content></subparagraph><subparagraph eId="schedule-4-paragraph-76-4"><num>(4)</num><content><p>Rule 1.6 of the Scottish Insolvency Rules applies for the purposes of authentication under sub-paragraph <ref href="#schedule-4-paragraph-32-3">(3)</ref>.</p></content></subparagraph></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-4-paragraph-79" class="schProv1"><num>79</num><subparagraph eId="schedule-4-paragraph-79-1"><num>(1)</num><intro><p>A notice under section <ref href="#d25e3488">A39</ref><ref href="#d25e3579">(8)</ref> of the Insolvency Act 1986 must state—</p></intro><level class="para1" eId="schedule-4-paragraph-79-1-a"><num>(a)</num><content><p>the provision under which it is given,</p></content></level><level class="para1" eId="schedule-4-paragraph-79-1-b"><num>(b)</num><content><p>the nature of the notice,</p></content></level><level class="para1" eId="schedule-4-paragraph-79-1-c"><num>(c)</num><content><p>the date of the notice,</p></content></level><level class="para1" eId="schedule-4-paragraph-79-1-d"><num>(d)</num><content><p>the identification details for the company to which it relates,</p></content></level><level class="para1" eId="schedule-4-paragraph-79-1-e"><num>(e)</num><content><p>that it is given by the monitor acting in that capacity, and</p></content></level><level class="para1" eId="schedule-4-paragraph-79-1-f"><num>(f)</num><content><p>the name and contact details of the monitor.</p></content></level></subparagraph><subparagraph eId="schedule-4-paragraph-79-2"><num>(2)</num><content><p>The notice must be authenticated by the monitor.</p></content></subparagraph><subparagraph eId="schedule-4-paragraph-79-3"><num>(3)</num><content><p>Rule 1.6 of the Scottish Insolvency Rules applies for the purposes of authentication under sub-paragraph <ref href="#schedule-4-paragraph-79-2">(2)</ref>.</p></content></subparagraph></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-4-paragraph-82" class="schProv1"><num>82</num><subparagraph eId="schedule-4-paragraph-82-1"><num>(1)</num><intro><p>Where section 174A of the Insolvency Act 1986 applies, the moratorium debts and pre-moratorium debts mentioned in subsection (2)(b) of that section are payable in the following order of priority—</p></intro><level class="para1" eId="schedule-4-paragraph-82-1-a"><num>(a)</num><content><p>amounts payable in respect of goods or services supplied during the moratorium under a contract where, but for section 233B(3) or (4) of that Act, the supplier would not have had to make that supply;</p></content></level><level class="para1" eId="schedule-4-paragraph-82-1-b"><num>(b)</num><content><p>wages or salary arising under a contract of employment;</p></content></level><level class="para1" eId="schedule-4-paragraph-82-1-c"><num>(c)</num><content><p>other debts or other liabilities apart from the monitor’s remuneration or expenses;</p></content></level><level class="para1" eId="schedule-4-paragraph-82-1-d"><num>(d)</num><content><p>the monitor’s remuneration or expenses.</p></content></level></subparagraph><subparagraph eId="schedule-4-paragraph-82-2"><num>(2)</num><content><p>In this paragraph “wages or salary” has the same meaning as in section <ref href="#d25e1722">A18</ref> of the Insolvency Act 1986.</p></content></subparagraph></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-8-paragraph-31" class="schProv1"><num>31</num><subparagraph eId="schedule-8-paragraph-31-1"><num>(1)</num><intro><p>An application by the directors of a company for the extension of a moratorium under Article <ref href="#d25e6377">13CD</ref> of the Insolvency (Northern Ireland) Order 1989 must state—</p></intro><level class="para1" eId="schedule-8-paragraph-31-1-a"><num>(a)</num><content><p>that it is made under that Article,</p></content></level><level class="para1" eId="schedule-8-paragraph-31-1-b"><num>(b)</num><content><p>the length of the extension sought,</p></content></level><level class="para1" eId="schedule-8-paragraph-31-1-c"><num>(c)</num><content><p>identification details for the company to which the application relates, and</p></content></level><level class="para1" eId="schedule-8-paragraph-31-1-d"><num>(d)</num><content><p>the company’s address for service.</p></content></level></subparagraph><subparagraph eId="schedule-8-paragraph-31-2"><num>(2)</num><content><p>The application must be authenticated by or on behalf of the directors (see paragraph <ref href="#schedule-8-paragraph-49">49</ref>).</p></content></subparagraph></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-9-paragraph-11" class="schProv1"><num>11</num><content><p>In section 23 of the Water Industry Act 1991 (meaning and effect of special administration order), in subsection (2D)(b), after “Part 26” insert “or 26A”.</p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" eId="schedule-9-paragraph-16" class="schProv1"><num>16</num><subparagraph eId="schedule-9-paragraph-16-1"><num>(1)</num><content><p>In Part 2 of Schedule 1 to the Housing Act 1996 (registered social landlords: constitution, change of rules, amalgamation and dissolution), paragraph 13 (arrangement, reconstruction, etc of company) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-9-paragraph-16-2"><num>(2)</num><content><p><mod>After sub-paragraph (3) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="schedule" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="schedule" ukl:Format="double"><subparagraph><num>(3A)</num><content><p>If a court makes an order under section 901F of the Companies Act 2006 (sanction of compromise or arrangement with creditors or members) in relation to the company, the company must notify the Welsh Ministers of the order.</p></content></subparagraph><subparagraph><num>(3B)</num><content><p>If a court makes an order under section 901J of the Companies Act 2006 (powers of court to facilitate reconstruction or amalgamation) in relation to the company, the company must notify the Welsh Ministers of the order.</p></content></subparagraph></quotedStructure></mod></p></content></subparagraph><subparagraph eId="schedule-9-paragraph-16-3"><num>(3)</num><content><p>In sub-paragraph (8), after “sub-paragraph (3)” insert “, (3B)”.</p></content></subparagraph></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" eId="schedule-9-paragraph-22" class="schProv1"><num>22</num><content><p><mod>In section 255 of the Enterprise Act 2002 (application of law about company arrangement or administration to non-company), in subsection (2), omit the “and” before paragraph (c) and after that paragraph insert <quotedText startQuote="“">, and</quotedText><quotedStructure endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="double"><level class="para1"><num>(d)</num><content><p>Part 26A of that Act (compromise or arrangement with creditors where company in financial difficulty).</p></content></level></quotedStructure></mod></p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-9-paragraph-28" class="schProv1"><num>28</num><content><p>In Part 2 of the Income Tax (Trading and Other Income) Act 2005 (trading income), in section 259 (meaning of “statutory insolvency arrangement”), in paragraph (b), after “Part 26” insert “or 26A”.</p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-4-paragraph-69" class="schProv1"><num>69</num><subparagraph eId="schedule-4-paragraph-69-1"><num>(1)</num><intro><p>An application by the directors of a company for the extension of a moratorium under section <ref href="#d25e1090">A13</ref> of the Insolvency Act 1986 must state—</p></intro><level class="para1" eId="schedule-4-paragraph-69-1-a"><num>(a)</num><content><p>that it is made under that section,</p></content></level><level class="para1" eId="schedule-4-paragraph-69-1-b"><num>(b)</num><content><p>the length of the extension sought,</p></content></level><level class="para1" eId="schedule-4-paragraph-69-1-c"><num>(c)</num><content><p>identification details for the company to which the application relates,</p></content></level><level class="para1" eId="schedule-4-paragraph-69-1-d"><num>(d)</num><content><p>the company’s address for service, and</p></content></level><level class="para1" eId="schedule-4-paragraph-69-1-e"><num>(e)</num><content><p>the court in which the application is made.</p></content></level></subparagraph><subparagraph eId="schedule-4-paragraph-69-2"><num>(2)</num><content><p>The application must be authenticated by or on behalf of the directors.</p></content></subparagraph><subparagraph eId="schedule-4-paragraph-69-3"><num>(3)</num><content><p>Rule 1.6 of the Scottish Insolvency Rules applies for the purposes of authentication under sub-paragraph <ref href="#schedule-4-paragraph-29-2">(2)</ref>.</p></content></subparagraph></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-9-paragraph-5" class="schProv1"><num>5</num><content><p>The Insolvency Act 1986 is amended as follows.</p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-9-paragraph-12" class="schProv1"><num>12</num><content><p>The Taxation of Chargeable Gains Act 1992 is amended as follows.</p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-9-paragraph-17" class="schProv1"><num>17</num><content><p>The Financial Services and Markets Act 2000 is amended as follows.</p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-9-paragraph-23" class="schProv1"><num>23</num><content><p>The Income Tax (Earnings and Pensions) Act 2003 is amended as follows.</p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" eId="schedule-9-paragraph-29" class="schProv1"><num>29</num><content><p><mod>In Article 10 of the Insolvency (Northern Ireland) Order 2005 (application of law about company arrangement or administration to non-company), in paragraph (3), omit the “and” before sub-paragraph (c) and after that sub-paragraph insert <quotedText startQuote="“">, and</quotedText><quotedStructure endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="order" ukl:Context="main" ukl:Format="double"><level class="para1"><num>(d)</num><content><p>Part 26A of that Act (compromise or arrangement with creditors where company in financial difficulty).</p></content></level></quotedStructure></mod></p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-9-paragraph-41" class="schProv1"><num>41</num><content><p>In section 1319 of the Corporation Tax Act 2009 (other definitions), in paragraph (b) of the definition of “statutory insolvency arrangement”, after “Part 26” insert “or 26A”.</p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-9-paragraph-46" class="schProv1"><num>46</num><content><p>Part 8 of the Housing (Scotland) Act 2010 (registered social landlords: organisational change etc) is amended as follows.</p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-9-paragraph-51" class="schProv1"><num>51</num><content><p>In section 2 of the Mutuals’ Deferred Shares Act 2015 (restriction on voting rights), in subsection (2)(b), after “section 896” insert “or 901C”.</p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-10-paragraph-2" class="schProv1"><num>2</num><subparagraph eId="schedule-10-paragraph-2-1"><num>(1)</num><content><p>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 <ref href="#schedule-10-paragraph-2-2">(2)</ref> is met.</p></content></subparagraph><subparagraph eId="schedule-10-paragraph-2-2"><num>(2)</num><intro><p>The condition referred to in sub-paragraph <ref href="#schedule-10-paragraph-2-1">(1)</ref> is that the creditor has reasonable grounds for believing that—</p></intro><level class="para1" eId="schedule-10-paragraph-2-2-a"><num>(a)</num><content><p>coronavirus has not had a financial effect on the company, or</p></content></level><level class="para1" eId="schedule-10-paragraph-2-2-b"><num>(b)</num><content><p>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.</p></content></level></subparagraph><subparagraph eId="schedule-10-paragraph-2-3"><num>(3)</num><content><p>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 <ref href="#schedule-10-paragraph-2-4">(4)</ref> is met.</p></content></subparagraph><subparagraph eId="schedule-10-paragraph-2-4"><num>(4)</num><intro><p>The condition referred to in sub-paragraph <ref href="#schedule-10-paragraph-2-3">(3)</ref> is that the creditor has reasonable grounds for believing that—</p></intro><level class="para1" eId="schedule-10-paragraph-2-4-a"><num>(a)</num><content><p>coronavirus has not had a financial effect on the company, or</p></content></level><level class="para1" eId="schedule-10-paragraph-2-4-b"><num>(b)</num><content><p>the relevant ground would apply even if coronavirus had not had a financial effect on the company.</p></content></level></subparagraph><subparagraph eId="schedule-10-paragraph-2-5"><num>(5)</num><content><p>This paragraph is to be regarded as having come into force on 27 April 2020.</p></content></subparagraph></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-10-paragraph-5" class="schProv1"><num>5</num><subparagraph eId="schedule-10-paragraph-5-1"><num>(1)</num><intro><p>This paragraph applies where—</p></intro><level class="para1" eId="schedule-10-paragraph-5-1-a"><num>(a)</num><content><p>a creditor presents a petition for the winding up of a registered company under section 124 of the 1986 Act in the relevant period,</p></content></level><level class="para1" eId="schedule-10-paragraph-5-1-b"><num>(b)</num><content><p>the company is deemed unable to pay its debts on a ground specified in section 123(1) or (2) of that Act, and</p></content></level><level class="para1" eId="schedule-10-paragraph-5-1-c"><num>(c)</num><content><p>it appears to the court that coronavirus had a financial effect on the company before the presentation of the petition.</p></content></level></subparagraph><subparagraph eId="schedule-10-paragraph-5-2"><num>(2)</num><content><p>The court may wind the company up under section 122(1)(f) of the 1986 Act on a ground specified in section 123(1)(a) to (d) of that Act only if the court is satisfied that the facts by reference to which that ground applies would have arisen even if coronavirus had not had a financial effect on the company.</p></content></subparagraph><subparagraph eId="schedule-10-paragraph-5-3"><num>(3)</num><content><p>The court may wind the company up under section 122(1)(f) of the 1986 Act on the ground specified in section 123(1)(e) or (2) of that Act only if the court is satisfied that the ground would apply even if coronavirus had not had a financial effect on the company.</p></content></subparagraph><subparagraph eId="schedule-10-paragraph-5-4"><num>(4)</num><content><p>This paragraph is to be regarded as having come into force on 27 April 2020.</p></content></subparagraph></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-10-paragraph-8" class="schProv1"><num>8</num><subparagraph eId="schedule-10-paragraph-8-1"><num>(1)</num><intro><p>Paragraphs <ref href="#schedule-10-paragraph-9">9</ref> to <ref href="#schedule-10-paragraph-18">18</ref> apply where—</p></intro><level class="para1" eId="schedule-10-paragraph-8-1-a"><num>(a)</num><content><p>a creditor presents a petition under section 124 of the 1986 Act during the relevant period in relation to a registered or unregistered company, and</p></content></level><level class="para1" eId="schedule-10-paragraph-8-1-b"><num>(b)</num><content><p>the court to which it is presented makes an order under section 122(1)(f) or 221(5)(b) of that Act (“the winding-up order”).</p></content></level></subparagraph><subparagraph eId="schedule-10-paragraph-8-2"><num>(2)</num><content><p>Paragraphs <ref href="#schedule-10-paragraph-9">9</ref> to <ref href="#schedule-10-paragraph-18">18</ref> are to be regarded as having come into force on 27 April 2020.</p></content></subparagraph></paragraph>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1"><num>(c)</num><content><p>in relation to any other entity, a person with responsibility for managing the entity;</p></content></level>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-9-paragraph-6" class="schProv1"><num>6</num><subparagraph eId="schedule-9-paragraph-6-1"><num>(1)</num><content><p>In Part 4 (winding up of companies registered under the Companies Acts), Chapter 8 (provisions of general application in winding up) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-9-paragraph-6-2"><num>(2)</num><content><p>In section 176ZB (application of proceeds of office-holder claims), in subsection (4)(b), after “Part 26” insert “or 26A”.</p></content></subparagraph><subparagraph eId="schedule-9-paragraph-6-3"><num>(3)</num><content><p>In section 176A (share of assets for unsecured creditors), in subsection (4)(b), after “Part 26” insert “or 26A”.</p></content></subparagraph></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-9-paragraph-13" class="schProv1"><num>13</num><content><p>In section 263CA (stock lending: insolvency etc of borrower), in subsection (9)(f), after “Part 26” insert “or 26A”.</p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-9-paragraph-18" class="schProv1"><num>18</num><content><p>In section 105 (insurance business transfer schemes), in subsection (5), for “Part 26 of that Act” substitute “Part 26 or 26A of that Act, as the case may be”.</p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" eId="schedule-9-paragraph-24" class="schProv1"><num>24</num><subparagraph eId="schedule-9-paragraph-24-1"><num>(1)</num><content><p>Schedule 3 (SAYE option schemes) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-9-paragraph-24-2"><num>(2)</num><intro><p>In Part 6 (requirements etc relating to share options), in paragraph 37 (exercise of options: company events)—</p></intro><level class="para1" eId="schedule-9-paragraph-24-2-a"><num>(a)</num><content><p>in sub-paragraph (1), after “(4)” insert “, (4ZA)”;</p></content></level><level class="para1" eId="schedule-9-paragraph-24-2-b"><num>(b)</num><content><p><mod>after sub-paragraph (4) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="schedule" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="schedule" ukl:Format="double"><subparagraph><num>(4ZA)</num><intro><p>The relevant date for the purposes of this sub-paragraph is the date when the court sanctions under section 901F of the Companies Act 2006 (court sanction for compromise or arrangement) a compromise or arrangement applicable to or affecting—</p></intro><level class="para1"><num>(a)</num><content><p>all the ordinary share capital of the company or all the shares of the same class as the shares to which the option relates, or</p></content></level><level class="para1"><num>(b)</num><content><p>all the shares, or all the shares of that same class, which are held by a class of shareholders identified otherwise than by reference to their employment or directorships or their participation in a Schedule 3 SAYE option scheme.</p></content></level></subparagraph></quotedStructure><inline name="appendText">;</inline></mod></p></content></level><level class="para1" eId="schedule-9-paragraph-24-2-c"><num>(c)</num><content><p>in sub-paragraph (6C)(b), after “sub-paragraph (4)” insert “or (4ZA)”;</p></content></level><level class="para1" eId="schedule-9-paragraph-24-2-d"><num>(d)</num><content><p>in sub-paragraph (6E)(a), after “(4)” insert “, (4ZA)”;</p></content></level><level class="para1" eId="schedule-9-paragraph-24-2-e"><num>(e)</num><content><p>in sub-paragraph (6F)(a)(i) and (b)(i), after “(4)” insert “, (4ZA)”.</p></content></level></subparagraph><subparagraph eId="schedule-9-paragraph-24-3"><num>(3)</num><content><p>In Part 7 (exchange of share options), in paragraph 38 (exchange of options on company reorganisation), in sub-paragraph (2)(b), after “section 899” insert “or 901F”.</p></content></subparagraph></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" eId="schedule-9-paragraph-47" class="schProv1"><num>47</num><subparagraph eId="schedule-9-paragraph-47-1"><num>(1)</num><content><p>Section 100A (restructuring by company: proposed restructuring) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-9-paragraph-47-2"><num>(2)</num><intro><p>In subsection (1)—</p></intro><level class="para1" eId="schedule-9-paragraph-47-2-a"><num>(a)</num><content><p>for “This section applies” substitute “Subsections (2) and (3) apply”;</p></content></level><level class="para1" eId="schedule-9-paragraph-47-2-b"><num>(b)</num><content><p>omit the “and” after paragraph (b);</p></content></level><level class="para1" eId="schedule-9-paragraph-47-2-c"><num>(c)</num><content><p><mod>for paragraph (c) substitute—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="double"><level class="para1"><num>(c)</num><content><p>the restructuring will result in a tenant under a Scottish secure tenancy ceasing to be a tenant of the company in respect of which the order is made, and</p></content></level><level class="para1"><num>(d)</num><content><p>the company is not being wound up and is not in administration.</p></content></level></quotedStructure></mod></p></content></level></subparagraph><subparagraph eId="schedule-9-paragraph-47-3"><num>(3)</num><content><p>In subsection (3), for “this section” substitute “this subsection”.</p></content></subparagraph><subparagraph eId="schedule-9-paragraph-47-4"><num>(4)</num><content><p><mod>After subsection (3) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="double"><subsection><num>(4)</num><intro><p>Subsections (5) and (6) apply where—</p></intro><level class="para1"><num>(a)</num><content><p>a court order is made in respect of the company under section 901C(1) of the Companies Act 2006,</p></content></level><level class="para1"><num>(b)</num><content><p>the meeting summoned by the court order is to agree a restructuring of a type mentioned in section 901J(1) of that Act,</p></content></level><level class="para1"><num>(c)</num><content><p>the restructuring will result in a tenant under a Scottish secure tenancy ceasing to be a tenant of the company in respect of which the order is made, and</p></content></level><level class="para1"><num>(d)</num><content><p>the company is not being wound up and is not in administration.</p></content></level></subsection><subsection><num>(5)</num><content><p>The company must comply with sections 115 to 120 (as applied by subsection (6)) in relation to the proposed restructuring.</p></content></subsection><subsection><num>(6)</num><content><p><mod>Sections 115 to 120 apply in relation to a proposed restructuring to which this subsection applies as they apply in relation to a proposed disposal to which section 107(4) applies, subject to the modification that section 115A(2) has effect as if, for paragraph (b), there were substituted—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="double"><level class="para1"><num>(b)</num><content><p>before the meeting summoned by the court order under section 901C of the Companies Act 2006 takes place,</p></content></level></quotedStructure></mod></p></content></subsection></quotedStructure><inline name="appendText">.</inline></mod></p></content></subparagraph></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-10-paragraph-9" class="schProv1"><num>9</num><content><p>If the winding up would by virtue of section 129(2) of the 1986 Act be deemed to commence at the time of the presentation of the petition, the winding up is instead for the purposes of that Act to be deemed to commence on the making of the winding-up order.</p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-9-paragraph-7" class="schProv1"><num>7</num><subparagraph eId="schedule-9-paragraph-7-1"><num>(1)</num><content><p>Schedule B1 (administration) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-9-paragraph-7-2"><num>(2)</num><content><p>In paragraph 49 (administrator’s proposals), in sub-paragraph (3)(b), after “Part 26” insert “or 26A”.</p></content></subparagraph><subparagraph eId="schedule-9-paragraph-7-3"><num>(3)</num><content><p>In paragraph 73 (protection for priority creditor), in sub-paragraph (2)(c), after “Part 26” insert “or 26A”.</p></content></subparagraph><subparagraph eId="schedule-9-paragraph-7-4"><num>(4)</num><content><p>In paragraph 74 (challenge to administrator’s conduct of company), in sub-paragraph (6)(b), after “Part 26” insert “or 26A”.</p></content></subparagraph></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-9-paragraph-14" class="schProv1"><num>14</num><content><p>In Schedule 5AA (meaning of “scheme of reconstruction” for purposes of section 136), in paragraph 5(a)(i), after “Part 26” insert “or 26A”.</p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" eId="schedule-9-paragraph-19" class="schProv1"><num>19</num><intro><p>In Schedule 17A (further provision in relation to exercise of Part 18 functions by Bank of England), in paragraph 24 (insolvency)—</p></intro><level class="para1" eId="schedule-9-paragraph-19-a"><num>(a)</num><content><p><mod>in sub-paragraph (1), before paragraph (a) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="schedule" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="schedule" ukl:Format="double"><level class="para1"><num>(za)</num><content><p>sections 355A and 355B (powers to participate in proceedings under Part 26A of the Companies Act 2006);</p></content></level></quotedStructure><inline name="appendText">;</inline></mod></p></content></level><level class="para1" eId="schedule-9-paragraph-19-b"><num>(b)</num><content><p>in sub-paragraph (2), after “recognised investment exchange” insert “(other than the reference to “an authorised person” in section 355B(2)(a))”.</p></content></level></paragraph>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" class="para1" eId="schedule-9-paragraph-19-a"><num>(a)</num><content><p><mod>in sub-paragraph (1), before paragraph (a) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="schedule" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="schedule" ukl:Format="double"><level class="para1"><num>(za)</num><content><p>sections 355A and 355B (powers to participate in proceedings under Part 26A of the Companies Act 2006);</p></content></level></quotedStructure><inline name="appendText">;</inline></mod></p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="schedule-9-paragraph-19-b"><num>(b)</num><content><p>in sub-paragraph (2), after “recognised investment exchange” insert “(other than the reference to “an authorised person” in section 355B(2)(a))”.</p></content></level>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" eId="schedule-9-paragraph-25" class="schProv1"><num>25</num><subparagraph eId="schedule-9-paragraph-25-1"><num>(1)</num><content><p>Schedule 4 (CSOP schemes) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-9-paragraph-25-2"><num>(2)</num><intro><p>In Part 5 (requirements etc relating to share options), in paragraph 25A (exercise of options: company events)—</p></intro><level class="para1" eId="schedule-9-paragraph-25-2-a"><num>(a)</num><content><p>in sub-paragraph (1), after “(6)” insert “, (6ZA)”;</p></content></level><level class="para1" eId="schedule-9-paragraph-25-2-b"><num>(b)</num><content><p><mod>after sub-paragraph (6) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="schedule" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="schedule" ukl:Format="double"><subparagraph><num>(6ZA)</num><intro><p>The relevant date for the purposes of this sub-paragraph is the date when the court sanctions under section 901F of the Companies Act 2006 (court sanction for compromise or arrangement) a compromise or arrangement applicable to or affecting—</p></intro><level class="para1"><num>(a)</num><content><p>all the ordinary share capital of the company or all the shares of the same class as the shares to which the option relates, or</p></content></level><level class="para1"><num>(b)</num><content><p>all the shares, or all the shares of that same class, which are held by a class of shareholders identified otherwise than by reference to their employment or directorships or their participation in a Schedule 4 CSOP scheme.</p></content></level></subparagraph></quotedStructure><inline name="appendText">;</inline></mod></p></content></level><level class="para1" eId="schedule-9-paragraph-25-2-c"><num>(c)</num><content><p>in sub-paragraph (7C)(b), after “sub-paragraph (6)” insert “or (6ZA)”;</p></content></level><level class="para1" eId="schedule-9-paragraph-25-2-d"><num>(d)</num><content><p>in sub-paragraph (7E)(a), after “(6)” insert “, (6ZA)”;</p></content></level><level class="para1" eId="schedule-9-paragraph-25-2-e"><num>(e)</num><content><p>in sub-paragraph (7F)(a)(i) and (b)(i), after “(6)” insert “, (6ZA)”.</p></content></level></subparagraph><subparagraph eId="schedule-9-paragraph-25-3"><num>(3)</num><content><p>In Part 6 (exchange of share options), in paragraph 26 (exchange of options on company reorganisation), in sub-paragraph (2)(b), after “section 899” insert “or 901F”.</p></content></subparagraph></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" eId="schedule-9-paragraph-48" class="schProv1"><num>48</num><subparagraph eId="schedule-9-paragraph-48-1"><num>(1)</num><content><p>Section 101 (restructuring of company) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-9-paragraph-48-2"><num>(2)</num><content><p><mod>After subsection (1) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="double"><subsection><num>(1A)</num><intro><p>This section also applies where—</p></intro><level class="para1"><num>(a)</num><content><p>a court order is made in respect of a company under section 901F or 901J of the Companies Act 2006, and</p></content></level><level class="para1"><num>(b)</num><content><p>the restructuring to which the order relates is of a type mentioned in section 901J(1) of that Act.</p></content></level></subsection></quotedStructure></mod></p></content></subparagraph><subparagraph eId="schedule-9-paragraph-48-3"><num>(3)</num><intro><p>In subsection (2)—</p></intro><level class="para1" eId="schedule-9-paragraph-48-3-a"><num>(a)</num><content><p>after “subsection (1)” insert “or (1A)”;</p></content></level><level class="para1" eId="schedule-9-paragraph-48-3-b"><num>(b)</num><content><p>in paragraph (b), after “section 900(6)” insert “or (as the case may be) section 901J(6)”.</p></content></level></subparagraph><subparagraph eId="schedule-9-paragraph-48-4"><num>(4)</num><content><p>In subsection (3)(a), after “section 100A(3)” insert “or (6) (as the case may be)”.</p></content></subparagraph><subparagraph eId="schedule-9-paragraph-48-5"><num>(5)</num><content><p>In subsection (5), after “section 900” insert “or 901J”.</p></content></subparagraph></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-10-paragraph-10" class="schProv1"><num>10</num><intro><p>In section 74 of the 1986 Act (liability as contributories of present and past members), subsection (2)(a) has effect as if the reference to one year or more before the commencement of the winding up were to—</p></intro><level class="para1" eId="schedule-10-paragraph-10-a"><num>(a)</num><content><p>one year or more before the day on which the petition was presented, or</p></content></level><level class="para1" eId="schedule-10-paragraph-10-b"><num>(b)</num><content><p>if the winding-up order was made more than 6 months after the day on which the petition was presented, 18 months or more before the day on which the winding-up order was made.</p></content></level></paragraph>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="schedule-10-paragraph-10-a"><num>(a)</num><content><p>one year or more before the day on which the petition was presented, or</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="schedule-10-paragraph-10-b"><num>(b)</num><content><p>if the winding-up order was made more than 6 months after the day on which the petition was presented, 18 months or more before the day on which the winding-up order was made.</p></content></level>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" eId="schedule-9-paragraph-20" class="schProv1"><num>20</num><subparagraph eId="schedule-9-paragraph-20-1"><num>(1)</num><content><p>Part 24 (insolvency) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-9-paragraph-20-2"><num>(2)</num><content><p><mod>After section 355 insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="double"><hcontainer name="crossheading" ukl:Name="Pblock"><heading>Arrangements and reconstructions: companies in financial difficulty</heading><section><num>355A</num><heading>Powers of FCA and PRA to participate in proceedings</heading><subsection><num>(1)</num><intro><p>This section applies where Part 26A of the Companies Act 2006 (“the 2006 Act”) (arrangements and reconstructions: companies in financial difficulty) applies in relation to a company which—</p></intro><level class="para1"><num>(a)</num><content><p>is, or has been, an authorised person or recognised investment exchange;</p></content></level><level class="para1"><num>(b)</num><intro><p>is, or has been, any of the following—</p></intro><level class="para2"><num>(i)</num><content><p>an electronic money institution;</p></content></level><level class="para2"><num>(ii)</num><content><p>an authorised payment institution;</p></content></level><level class="para2"><num>(iii)</num><content><p>a small payment institution;</p></content></level><level class="para2"><num>(iv)</num><content><p>a registered account information service provider;</p></content></level></level><level class="para1"><num>(c)</num><content><p>is, or has been, an appointed representative; or</p></content></level><level class="para1"><num>(d)</num><content><p>is carrying on, or has carried on, a regulated activity in contravention of the general prohibition.</p></content></level></subsection><subsection><num>(2)</num><intro><p>A relevant applicant must give notice to the appropriate regulator of—</p></intro><level class="para1"><num>(a)</num><content><p>any application which the relevant applicant intends to make under section 901C(1) of the 2006 Act, and</p></content></level><level class="para1"><num>(b)</num><content><p>any application which the relevant applicant believes a creditor or member of the company has made, or intends to make, under section 901C(1) of that Act in relation to the company.</p></content></level></subsection><subsection><num>(3)</num><content><p>A relevant applicant may not make an application under section 901C(1) of the 2006 Act in relation to a company that is a PRA-regulated person without the consent of the PRA.</p></content></subsection><subsection><num>(4)</num><intro><p>In this section “relevant applicant”, in relation to a company, means—</p></intro><level class="para1"><num>(a)</num><content><p>the company;</p></content></level><level class="para1"><num>(b)</num><content><p>if the company is being wound up, the liquidator;</p></content></level><level class="para1"><num>(c)</num><content><p>if the company is in administration, the administrator.</p></content></level></subsection><subsection><num>(5)</num><content><p>The appropriate regulator is entitled to be heard at any hearing of an application made under section 901C or 901F of the 2006 Act in relation to the company.</p></content></subsection><subsection><num>(6)</num><content><p>Any notice or other document required to be sent to a creditor of the company must also be sent to the appropriate regulator.</p></content></subsection><subsection><num>(7)</num><intro><p>A person appointed for the purpose by the appropriate regulator is entitled—</p></intro><level class="para1"><num>(a)</num><content><p>to attend any meeting of creditors of the company summoned under section 901C of the 2006 Act;</p></content></level><level class="para1"><num>(b)</num><content><p>to make representations as to any matter for decision at such a meeting.</p></content></level></subsection><subsection><num>(8)</num><intro><p>In this section—</p></intro><hcontainer name="definition"><intro><p>“the appropriate regulator” means—</p></intro><level class="para1"><num>(a)</num><content><p>where the company is a PRA-regulated person, each of the FCA and the PRA, except that the reference in subsection (7) to a person appointed by the appropriate regulator is to be read as a reference to a person appointed by either the FCA or the PRA;</p></content></level><level class="para1"><num>(b)</num><content><p>in any other case, the FCA;</p></content></level></hcontainer><hcontainer name="definition"><content><p>“authorised payment institution”, “small payment institution” and “registered account information service provider” have the same meaning as in the Payment Services Regulations 2017 (<ref eId="c00103" href="http://www.legislation.gov.uk/id/uksi/2017/752">S.I. 2017/752</ref>) (see regulation 2 of those Regulations);</p></content></hcontainer><hcontainer name="definition"><content><p>“electronic money institution” has the same meaning as in the Electronic Money Regulations 2011 (<ref eId="c00104" href="http://www.legislation.gov.uk/id/uksi/2011/99">S.I. 2011/99</ref>) (see regulation 2 of those Regulations).</p></content></hcontainer></subsection></section><section><num>355B</num><heading>Enforcement of requirements imposed by section 355A</heading><subsection><num>(1)</num><intro><p>For the purpose of enforcing a requirement imposed on a company by section 355A(2) or (3), the appropriate regulator may exercise any of the following powers (so far as it would not otherwise be exercisable)—</p></intro><level class="para1"><num>(a)</num><content><p>the power to publish a statement under section 205 (public censure);</p></content></level><level class="para1"><num>(b)</num><content><p>the power to impose a financial penalty under section 206.</p></content></level></subsection><subsection><num>(2)</num><intro><p>Accordingly, sections 205 and 206, and so much of this Act as relates to either of those sections, have effect in relation to a requirement imposed by section 355A(2) or (3) as if—</p></intro><level class="para1"><num>(a)</num><content><p>any reference to an authorised person included (so far as would not otherwise be the case) a reference to a company falling within any of paragraphs (a) to (d) of section 355A(1),</p></content></level><level class="para1"><num>(b)</num><content><p>any reference to a relevant requirement included (so far as would not otherwise be the case) a reference to a requirement imposed by section 355A(2) or (3), and</p></content></level><level class="para1"><num>(c)</num><content><p>“the appropriate regulator” had the same meaning as in section 355A.</p></content></level></subsection><subsection><num>(3)</num><content><p>In this section “the appropriate regulator” has the same meaning as in section 355A.</p></content></subsection></section></hcontainer></quotedStructure></mod></p></content></subparagraph><subparagraph eId="schedule-9-paragraph-20-3"><num>(3)</num><intro><p>In section 362 (powers of FCA and PRA to participate in administration proceedings)—</p></intro><level class="para1" eId="schedule-9-paragraph-20-3-a"><num>(a)</num><intro><p>in subsection (6)—</p></intro><level class="para2" eId="schedule-9-paragraph-20-3-a-i"><num>(i)</num><content><p>after “arrangement” insert “in relation to which Part 26 of the Companies Act 2006 applies”, and</p></content></level><level class="para2" eId="schedule-9-paragraph-20-3-a-ii"><num>(ii)</num><content><p>for “the Companies Act 2006” substitute “that Act”;</p></content></level></level><level class="para1" eId="schedule-9-paragraph-20-3-b"><num>(b)</num><content><p><mod>after that subsection insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="double"><subsection><num>(6A)</num><content><p>If, during the course of the administration of a company, a compromise or arrangement in relation to which Part 26A of the Companies Act 2006 applies is proposed between the company and its creditors, or any class of them, the appropriate regulator may apply to the court under section 901C or 901F of that Act.</p></content></subsection></quotedStructure></mod></p></content></level></subparagraph><subparagraph eId="schedule-9-paragraph-20-4"><num>(4)</num><intro><p>In section 365 (powers of FCA and PRA to participate in voluntary winding up proceedings)—</p></intro><level class="para1" eId="schedule-9-paragraph-20-4-a"><num>(a)</num><intro><p>in subsection (7)—</p></intro><level class="para2" eId="schedule-9-paragraph-20-4-a-i"><num>(i)</num><content><p>after “arrangement” insert “in relation to which Part 26 of the Companies Act 2006 applies”, and</p></content></level><level class="para2" eId="schedule-9-paragraph-20-4-a-ii"><num>(ii)</num><content><p>for “the Companies Act 2006” substitute “that Act”;</p></content></level></level><level class="para1" eId="schedule-9-paragraph-20-4-b"><num>(b)</num><content><p><mod>after that subsection insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="double"><subsection><num>(7A)</num><content><p>If, during the course of the winding up of the company, a compromise or arrangement in relation to which Part 26A of the Companies Act 2006 applies is proposed between the company and its creditors, or any class of them, the appropriate regulator may apply to the court under section 901C or 901F of that Act.</p></content></subsection></quotedStructure></mod></p></content></level></subparagraph><subparagraph eId="schedule-9-paragraph-20-5"><num>(5)</num><intro><p>In section 371 (powers of FCA and PRA to participate in proceedings for winding up by court)—</p></intro><level class="para1" eId="schedule-9-paragraph-20-5-a"><num>(a)</num><intro><p>in subsection (5)—</p></intro><level class="para2" eId="schedule-9-paragraph-20-5-a-i"><num>(i)</num><content><p>after “arrangement” insert “in relation to which Part 26 of the Companies Act 2006 applies”, and</p></content></level><level class="para2" eId="schedule-9-paragraph-20-5-a-ii"><num>(ii)</num><content><p>for “the Companies Act 2006” substitute “that Act”;</p></content></level></level><level class="para1" eId="schedule-9-paragraph-20-5-b"><num>(b)</num><content><p><mod>after that subsection insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="double"><subsection><num>(5A)</num><content><p>If, during the course of the winding up of a company, a compromise or arrangement in relation to which Part 26A of the Companies Act 2006 applies is proposed between the company and its creditors, or any class of them, the appropriate regulator may apply to the court under section 901C or 901F of that Act.</p></content></subsection></quotedStructure></mod></p></content></level></subparagraph></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-9-paragraph-26" class="schProv1"><num>26</num><content><p>In Schedule 5 (enterprise management incentives), in paragraph 39 (company reorganisations), in sub-paragraph (2)(b), after “section 899” insert “or 901F”.</p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-10-paragraph-11" class="schProv1"><num>11</num><intro><p>In section 206 of the 1986 Act (fraud etc in anticipation of winding up), subsection (1) has effect as if the reference to 12 months immediately preceding the commencement of the winding up were to a period which—</p></intro><level class="para1" eId="schedule-10-paragraph-11-a"><num>(a)</num><intro><p>begins with whichever is the later of—</p></intro><level class="para2" eId="schedule-10-paragraph-11-a-i"><num>(i)</num><content><p>the day 12 months before the day on which the petition was presented, and</p></content></level><level class="para2" eId="schedule-10-paragraph-11-a-ii"><num>(ii)</num><content><p>the day 18 months before the day on which the winding-up order was made, and</p></content></level></level><level class="para1" eId="schedule-10-paragraph-11-b"><num>(b)</num><content><p>ends with the day on which the winding-up order was made.</p></content></level></paragraph>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="schedule-10-paragraph-11-a"><num>(a)</num><intro><p>begins with whichever is the later of—</p></intro><level class="para2" eId="schedule-10-paragraph-11-a-i"><num>(i)</num><content><p>the day 12 months before the day on which the petition was presented, and</p></content></level><level class="para2" eId="schedule-10-paragraph-11-a-ii"><num>(ii)</num><content><p>the day 18 months before the day on which the winding-up order was made, and</p></content></level></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para2" eId="schedule-10-paragraph-11-a-i"><num>(i)</num><content><p>the day 12 months before the day on which the petition was presented, and</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para2" eId="schedule-10-paragraph-11-a-ii"><num>(ii)</num><content><p>the day 18 months before the day on which the winding-up order was made, and</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="schedule-10-paragraph-11-b"><num>(b)</num><content><p>ends with the day on which the winding-up order was made.</p></content></level>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-10-paragraph-12" class="schProv1"><num>12</num><intro><p>In section 207 of the 1986 Act (transactions in fraud of creditors), subsection (2)(a) has effect as if the reference to conduct occurring more than 5 years before the commencement of the winding up were to conduct occurring—</p></intro><level class="para1" eId="schedule-10-paragraph-12-a"><num>(a)</num><content><p>more than 5 years before the day on which the petition was presented, or</p></content></level><level class="para1" eId="schedule-10-paragraph-12-b"><num>(b)</num><content><p>if the winding-up order was made more than 6 months after the day on which the petition was presented, more than 5 years and 6 months before the day on which the winding-up order was made.</p></content></level></paragraph>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="schedule-10-paragraph-12-a"><num>(a)</num><content><p>more than 5 years before the day on which the petition was presented, or</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="schedule-10-paragraph-12-b"><num>(b)</num><content><p>if the winding-up order was made more than 6 months after the day on which the petition was presented, more than 5 years and 6 months before the day on which the winding-up order was made.</p></content></level>
<hcontainer xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" name="crossheading" class="schGroup7"><heading>Prescribed format of documents</heading><paragraph eId="schedule-4-paragraph-44" class="schProv1"><num>44</num><content><p>Rule 1.4 of the England and Wales Insolvency Rules (requirement for writing and form of documents) applies for the purposes of Part A1 of the Insolvency Act 1986.</p></content></paragraph><paragraph eId="schedule-4-paragraph-45" class="schProv1"><num>45</num><subparagraph eId="schedule-4-paragraph-45-1"><num>(1)</num><content><p>The following provisions of the England and Wales Insolvency Rules apply, so far as relevant, to any requirement imposed by a provision of this Part of this Schedule—</p><blockList class="unordered none" ukl:Name="UnorderedList" ukl:Decoration="none"><item><p>rule 1.8 (prescribed format of documents), and</p></item><item><p>rule 1.9(1) (variations from prescribed contents).</p></item></blockList></content></subparagraph><subparagraph eId="schedule-4-paragraph-45-2"><num>(2)</num><content><p>In their application by virtue of sub-paragraph (1), a reference in rule 1.8 or 1.9(1) to the requirements of a rule is to be read as a reference to the requirements of the provision of this Part of this Schedule.</p></content></subparagraph></paragraph></hcontainer>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-3-paragraph-38" class="schProv1"><num>38</num><content><p><mod>In the Limited Liability Partnerships Regulations 2001 (S.I. 2001/1090), in Part 4 (winding up and insolvency), in regulation 5 (application of the Insolvency Act 1986 to limited liability partnerships), in paragraph (1)(a) after “Parts” insert <quotedText>“
A1,
”</quotedText>.</mod></p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" eId="schedule-3-paragraph-41" class="schProv1"><num>41</num><content><p><mod>In regulation 2 of the Insolvency Practitioners Regulations 2005 (<ref eId="c00067" href="http://www.legislation.gov.uk/id/uksi/2005/524">S.I. 2005/524</ref>) (interpretation: general), in paragraph (2), before sub-paragraph (a) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="regulation" ukl:Context="main" ukl:Format="double"><level class="para1"><num>(za)</num><intro><p>where the insolvency practitioner acts as the monitor in relation to a moratorium under Part A1 of the Act, whichever is the earlier of the date on which—</p></intro><level class="para2"><num>(i)</num><content><p>the moratorium comes to an end, or</p></content></level><level class="para2"><num>(ii)</num><content><p>the insolvency practitioner otherwise ceases to act as the monitor in relation to the moratorium;</p></content></level></level></quotedStructure><inline name="appendText">.</inline></mod></p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-4-paragraph-35" class="schProv1"><num>35</num><subparagraph eId="schedule-4-paragraph-35-1"><num>(1)</num><content><p>A notice under section <ref href="#d25e2457">A24</ref><ref href="#d25e2525">(1)</ref> of the Insolvency Act 1986 must be given before the period of 3 days ending with the day on which the step mentioned there is taken.</p></content></subparagraph><subparagraph eId="schedule-4-paragraph-35-2"><num>(2)</num><content><p>A notice under section <ref href="#d25e2457">A24</ref><ref href="#d25e2485">(2)</ref> of the Insolvency Act 1986 must be given within the period of 3 days beginning with the day on which the duty to give the notice arises.</p></content></subparagraph></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-4-paragraph-38" class="schProv1"><num>38</num><subparagraph eId="schedule-4-paragraph-38-1"><num>(1)</num><intro><p>A statement under section <ref href="#d25e3488">A39</ref><ref href="#d25e3516">(4)</ref> of the Insolvency Act 1986 must be headed “Proposed monitor’s statement and consent to act” and must contain the following—</p></intro><level class="para1" eId="schedule-4-paragraph-38-1-a"><num>(a)</num><content><p>a certificate that the proposed monitor is qualified to act as an insolvency practitioner in relation to the company,</p></content></level><level class="para1" eId="schedule-4-paragraph-38-1-b"><num>(b)</num><content><p>the proposed monitor’s IP number,</p></content></level><level class="para1" eId="schedule-4-paragraph-38-1-c"><num>(c)</num><content><p>the name of the relevant recognised professional body which is the source of the proposed monitor’s authorisation to act in relation to the company, and</p></content></level><level class="para1" eId="schedule-4-paragraph-38-1-d"><num>(d)</num><content><p>a statement that the proposed monitor consents to act as monitor in relation to the company.</p></content></level></subparagraph><subparagraph eId="schedule-4-paragraph-38-2"><num>(2)</num><content><p>The statement must be made within the period of 5 days ending with the day on which it is filed with the court.</p></content></subparagraph><subparagraph eId="schedule-4-paragraph-38-3"><num>(3)</num><content><p>In this paragraph “IP number” means the number assigned to an office-holder as an insolvency practitioner by the Secretary of State.</p></content></subparagraph></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-4-paragraph-41" class="schProv1"><num>41</num><intro><p>Where the court makes an order by virtue of section A44(4)(c) of the Insolvency Act 1986 requiring a decision of a company’s creditors, the following provisions of the England and Wales Insolvency Rules apply for the purposes of that decision to the extent set out in the court’s order and subject to any modifications set out in the court’s order—</p></intro><level class="para1" eId="schedule-4-paragraph-41-a"><num>(a)</num><content><p>Part 15 (decision making);</p></content></level><level class="para1" eId="schedule-4-paragraph-41-b"><num>(b)</num><content><p>Part 16 (proxies).</p></content></level></paragraph>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="schedule-4-paragraph-41-a"><num>(a)</num><content><p>Part 15 (decision making);</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="schedule-4-paragraph-41-b"><num>(b)</num><content><p>Part 16 (proxies).</p></content></level>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-4-paragraph-44" class="schProv1"><num>44</num><content><p>Rule 1.4 of the England and Wales Insolvency Rules (requirement for writing and form of documents) applies for the purposes of Part A1 of the Insolvency Act 1986.</p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-10-paragraph-4" class="schProv1"><num>4</num><subparagraph eId="schedule-10-paragraph-4-1"><num>(1)</num><intro><p>This paragraph applies where a creditor presents a petition under section 124 of the 1986 Act—</p></intro><level class="para1" eId="schedule-10-paragraph-4-1-a"><num>(a)</num><content><p>on or after 27 April 2020, but</p></content></level><level class="para1" eId="schedule-10-paragraph-4-1-b"><num>(b)</num><content><p>before the day on which this Schedule comes into force.</p></content></level></subparagraph><subparagraph eId="schedule-10-paragraph-4-2"><num>(2)</num><content><p>If the court to which the petition is presented is satisfied that the creditor presented it without the condition in paragraph <ref href="#schedule-10-paragraph-2-2">2(2)</ref> or <ref href="#schedule-10-paragraph-2-4">(4)</ref> or paragraph <ref href="#schedule-10-paragraph-3-2">3(2)</ref> or <ref href="#schedule-10-paragraph-3-4">(4)</ref> (as the case may be) being met, the court may make such order as it thinks appropriate to restore the position to what it would have been if the petition had not been presented.</p></content></subparagraph><subparagraph eId="schedule-10-paragraph-4-3"><num>(3)</num><content><p>If it appears to the official receiver or, in Scotland, the interim liquidator that the person who presented the petition did so without the condition in paragraph <ref href="#schedule-10-paragraph-2-2">2(2)</ref> or <ref href="#schedule-10-paragraph-2-4">(4)</ref> or paragraph <ref href="#schedule-10-paragraph-3-2">3(2)</ref> or <ref href="#schedule-10-paragraph-3-4">(4)</ref> (as the case may be) being met, the official receiver or interim liquidator must refer the matter to the court to determine whether to make an order under sub-paragraph <ref href="#schedule-10-paragraph-4-2">(2)</ref>.</p></content></subparagraph><subparagraph eId="schedule-10-paragraph-4-4"><num>(4)</num><content><p>For the purposes of the 2016 Insolvency Rules or Rules of Court in Scotland, a reference under sub-paragraph <ref href="#schedule-10-paragraph-4-3">(3)</ref> is to be treated as if it were an application under section 147 of the 1986 Act.</p></content></subparagraph></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-10-paragraph-7" class="schProv1"><num>7</num><subparagraph eId="schedule-10-paragraph-7-1"><num>(1)</num><intro><p>This paragraph applies where—</p></intro><level class="para1" eId="schedule-10-paragraph-7-1-a"><num>(a)</num><content><p>a court makes an order under section 122(1)(f) or 221(5)(b) of the 1986 Act on or after 27 April 2020 but before the day on which this Schedule comes into force, and</p></content></level><level class="para1" eId="schedule-10-paragraph-7-1-b"><num>(b)</num><content><p>the order was not one which the court would have made had paragraphs <ref href="#schedule-10-paragraph-5">5</ref> and <ref href="#schedule-10-paragraph-6">6</ref> been in force at the time.</p></content></level></subparagraph><subparagraph eId="schedule-10-paragraph-7-2"><num>(2)</num><content><p>The court is to be regarded as having had no power to make the order (and, accordingly, the order is to be regarded as void).</p></content></subparagraph><subparagraph eId="schedule-10-paragraph-7-3"><num>(3)</num><content><p>Neither the official receiver nor the liquidator or provisional liquidator is liable in any civil or criminal proceedings for anything done pursuant to the order.</p></content></subparagraph><subparagraph eId="schedule-10-paragraph-7-4"><num>(4)</num><content><p>The court may give such directions to the official receiver, liquidator or provisional liquidator as it thinks fit for the purpose of restoring the company to which the order relates to the position it was in immediately before the petition was presented.</p></content></subparagraph><subparagraph eId="schedule-10-paragraph-7-5"><num>(5)</num><intro><p>If at any time it appears to the official receiver or, in Scotland, the interim liquidator that—</p></intro><level class="para1" eId="schedule-10-paragraph-7-5-a"><num>(a)</num><content><p>an order made by the court under section 122(1)(f) or 221(5)(b) of the 1986 Act is void by virtue of sub-paragraph <ref href="#schedule-10-paragraph-7-2">(2)</ref>, and</p></content></level><level class="para1" eId="schedule-10-paragraph-7-5-b"><num>(b)</num><content><p>it might be appropriate for the court to give directions under sub-paragraph <ref href="#schedule-10-paragraph-7-4">(4)</ref>,</p></content></level><wrapUp><p>the official receiver or interim liquidator must refer the matter to the court to determine whether to give such directions.</p></wrapUp></subparagraph><subparagraph eId="schedule-10-paragraph-7-6"><num>(6)</num><content><p>For the purposes of the 2016 Insolvency Rules or Rules of Court in Scotland, a reference under sub-paragraph <ref href="#schedule-10-paragraph-7-5">(5)</ref> is to be treated as if it were an application under section 147 of the 1986 Act.</p></content></subparagraph></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-11-paragraph-3" class="schProv1"><num>3</num><subparagraph eId="schedule-11-paragraph-3-1"><num>(1)</num><content><p>A creditor may not during the relevant period present a petition under Article 104 of the 1989 Order for the winding up of an unregistered company on a ground specified in Article 186, 187 or 188(1)(a) to (c) of that Order (“the relevant ground”), unless the condition in sub-paragraph <ref href="#schedule-11-paragraph-3-2">(2)</ref> is met.</p></content></subparagraph><subparagraph eId="schedule-11-paragraph-3-2"><num>(2)</num><intro><p>The condition referred to in sub-paragraph <ref href="#schedule-11-paragraph-3-1">(1)</ref> is that the creditor has reasonable grounds for believing that—</p></intro><level class="para1" eId="schedule-11-paragraph-3-2-a"><num>(a)</num><content><p>coronavirus has not had a financial effect on the company, or</p></content></level><level class="para1" eId="schedule-11-paragraph-3-2-b"><num>(b)</num><content><p>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.</p></content></level></subparagraph><subparagraph eId="schedule-11-paragraph-3-3"><num>(3)</num><content><p>A creditor may not during the relevant period present a petition under Article 104 of the 1989 Order for the winding up of an unregistered company on the ground specified in Article 188(1)(d) or (2) of that Order (“the relevant ground”), unless the condition in sub-paragraph <ref href="#schedule-11-paragraph-3-4">(4)</ref> is met.</p></content></subparagraph><subparagraph eId="schedule-11-paragraph-3-4"><num>(4)</num><intro><p>The condition referred to in sub-paragraph <ref href="#schedule-11-paragraph-3-3">(3)</ref> is that the creditor has reasonable grounds for believing that—</p></intro><level class="para1" eId="schedule-11-paragraph-3-4-a"><num>(a)</num><content><p>coronavirus has not had a financial effect on the company, or</p></content></level><level class="para1" eId="schedule-11-paragraph-3-4-b"><num>(b)</num><content><p>the relevant ground would apply even if coronavirus had not had a financial effect on the company.</p></content></level></subparagraph><subparagraph eId="schedule-11-paragraph-3-5"><num>(5)</num><content><p>This paragraph is to be regarded as having come into force on 27 April 2020.</p></content></subparagraph></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-11-paragraph-6" class="schProv1"><num>6</num><subparagraph eId="schedule-11-paragraph-6-1"><num>(1)</num><intro><p>This paragraph applies where—</p></intro><level class="para1" eId="schedule-11-paragraph-6-1-a"><num>(a)</num><content><p>a creditor presents a petition for the winding up of an unregistered company under Article 104 of the 1989 Order in the relevant period,</p></content></level><level class="para1" eId="schedule-11-paragraph-6-1-b"><num>(b)</num><content><p>the company is deemed unable to pay its debts on a ground specified in Article 186, 187 or 188 of that Order, and</p></content></level><level class="para1" eId="schedule-11-paragraph-6-1-c"><num>(c)</num><content><p>it appears to the High Court that coronavirus had a financial effect on the company before the presentation of the petition.</p></content></level></subparagraph><subparagraph eId="schedule-11-paragraph-6-2"><num>(2)</num><content><p>The High Court may wind the company up under Article 185(4)(b) of the 1989 Order on a ground specified in Article 186, 187 or 188(1)(a) to (c) of that Order only if the Court is satisfied that the facts by reference to which that ground applies would have arisen even if coronavirus had not had a financial effect on the company.</p></content></subparagraph><subparagraph eId="schedule-11-paragraph-6-3"><num>(3)</num><content><p>The High Court may wind the company up under Article 185(4)(b) of the 1989 Order on the ground specified in Article 188(1)(d) or (2) of that Order only if the Court is satisfied that the ground would apply even if coronavirus had not had a financial effect on the company.</p></content></subparagraph><subparagraph eId="schedule-11-paragraph-6-4"><num>(4)</num><content><p>This paragraph is to be regarded as having come into force on 27 April 2020.</p></content></subparagraph></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" eId="schedule-4-paragraph-45" class="schProv1"><num>45</num><subparagraph eId="schedule-4-paragraph-45-1"><num>(1)</num><content><p>The following provisions of the England and Wales Insolvency Rules apply, so far as relevant, to any requirement imposed by a provision of this Part of this Schedule—</p><blockList class="unordered none" ukl:Name="UnorderedList" ukl:Decoration="none"><item><p>rule 1.8 (prescribed format of documents), and</p></item><item><p>rule 1.9(1) (variations from prescribed contents).</p></item></blockList></content></subparagraph><subparagraph eId="schedule-4-paragraph-45-2"><num>(2)</num><content><p>In their application by virtue of sub-paragraph (1), a reference in rule 1.8 or 1.9(1) to the requirements of a rule is to be read as a reference to the requirements of the provision of this Part of this Schedule.</p></content></subparagraph></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-10-paragraph-13" class="schProv1"><num>13</num><intro><p>In section 208 of the 1986 Act (misconduct in course of winding up), subsection (2) has effect as if the reference to 12 months immediately preceding the commencement of the winding up were to a period which—</p></intro><level class="para1" eId="schedule-10-paragraph-13-a"><num>(a)</num><intro><p>begins with whichever is the later of—</p></intro><level class="para2" eId="schedule-10-paragraph-13-a-i"><num>(i)</num><content><p>the day 12 months before the day on which the petition was presented, and</p></content></level><level class="para2" eId="schedule-10-paragraph-13-a-ii"><num>(ii)</num><content><p>the day 18 months before the day on which the winding-up order was made, and</p></content></level></level><level class="para1" eId="schedule-10-paragraph-13-b"><num>(b)</num><content><p>ends with the day on which the winding-up order was made.</p></content></level></paragraph>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="schedule-10-paragraph-13-a"><num>(a)</num><intro><p>begins with whichever is the later of—</p></intro><level class="para2" eId="schedule-10-paragraph-13-a-i"><num>(i)</num><content><p>the day 12 months before the day on which the petition was presented, and</p></content></level><level class="para2" eId="schedule-10-paragraph-13-a-ii"><num>(ii)</num><content><p>the day 18 months before the day on which the winding-up order was made, and</p></content></level></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para2" eId="schedule-10-paragraph-13-a-i"><num>(i)</num><content><p>the day 12 months before the day on which the petition was presented, and</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para2" eId="schedule-10-paragraph-13-a-ii"><num>(ii)</num><content><p>the day 18 months before the day on which the winding-up order was made, and</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="schedule-10-paragraph-13-b"><num>(b)</num><content><p>ends with the day on which the winding-up order was made.</p></content></level>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-10-paragraph-14" class="schProv1"><num>14</num><subparagraph eId="schedule-10-paragraph-14-1"><num>(1)</num><content><p>Section 214A of the 1986 Act (as inserted for the purposes of limited liability partnerships by the Limited Liability Partnership Regulations 2001 (<ref eId="c00108" href="http://www.legislation.gov.uk/id/uksi/2001/1090">S.I. 2001/1090</ref>) and the Limited Liability Partnership (Scotland) Regulations 2001 (<ref eId="c00109" href="http://www.legislation.gov.uk/id/ssi/2001/128">S.S.I. 2001/128</ref>)) has effect as follows.</p></content></subparagraph><subparagraph eId="schedule-10-paragraph-14-2"><num>(2)</num><intro><p>Subsection (2) has effect as if the reference to 2 years ending with the commencement of the winding up were to a period which—</p></intro><level class="para1" eId="schedule-10-paragraph-14-2-a"><num>(a)</num><intro><p>begins with whichever is the later of—</p></intro><level class="para2" eId="schedule-10-paragraph-14-2-a-i"><num>(i)</num><content><p>the day 2 years before the day on which the petition was presented, and</p></content></level><level class="para2" eId="schedule-10-paragraph-14-2-a-ii"><num>(ii)</num><content><p>the day 2 years and 6 months before the day on which the winding-up order was made, and</p></content></level></level><level class="para1" eId="schedule-10-paragraph-14-2-b"><num>(b)</num><content><p>ends with the day on which the winding-up order was made.</p></content></level></subparagraph></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-10-paragraph-15" class="schProv1"><num>15</num><subparagraph eId="schedule-10-paragraph-15-1"><num>(1)</num><content><p>Section 240 of the 1986 Act (definition of “relevant time”) has effect as follows.</p></content></subparagraph><subparagraph eId="schedule-10-paragraph-15-2"><num>(2)</num><intro><p>Subsection (1)(a) has effect as if the reference to the period of 2 years ending with the onset of insolvency were to the period which—</p></intro><level class="para1" eId="schedule-10-paragraph-15-2-a"><num>(a)</num><intro><p>begins with whichever is the later of—</p></intro><level class="para2" eId="schedule-10-paragraph-15-2-a-i"><num>(i)</num><content><p>the day 2 years before the day on which the petition was presented, and</p></content></level><level class="para2" eId="schedule-10-paragraph-15-2-a-ii"><num>(ii)</num><content><p>the day 2 years and 6 months before the day on which the winding-up order was made, and</p></content></level></level><level class="para1" eId="schedule-10-paragraph-15-2-b"><num>(b)</num><content><p>ends with the day on which the winding-up order was made.</p></content></level></subparagraph><subparagraph eId="schedule-10-paragraph-15-3"><num>(3)</num><intro><p>Subsection (1)(b) has effect as if the reference to the period of 6 months ending with the onset of insolvency were to the period which—</p></intro><level class="para1" eId="schedule-10-paragraph-15-3-a"><num>(a)</num><intro><p>begins with whichever is the later of—</p></intro><level class="para2" eId="schedule-10-paragraph-15-3-a-i"><num>(i)</num><content><p>the day 6 months before the day on which the petition was presented, and</p></content></level><level class="para2" eId="schedule-10-paragraph-15-3-a-ii"><num>(ii)</num><content><p>the day 12 months before the day on which the winding-up order was made, and</p></content></level></level><level class="para1" eId="schedule-10-paragraph-15-3-b"><num>(b)</num><content><p>ends with the day on which the winding-up order was made.</p></content></level></subparagraph></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-10-paragraph-16" class="schProv1"><num>16</num><subparagraph eId="schedule-10-paragraph-16-1"><num>(1)</num><content><p>Section 242 of the 1986 Act (gratuitous alienations (Scotland)) has effect as follows.</p></content></subparagraph><subparagraph eId="schedule-10-paragraph-16-2"><num>(2)</num><intro><p>Subsection (3)(a) has effect as if the reference to a day not earlier than 5 years before the date on which the winding up of the company commences were to—</p></intro><level class="para1" eId="schedule-10-paragraph-16-2-a"><num>(a)</num><content><p>a day not earlier than 5 years before the day on which the petition was presented, or</p></content></level><level class="para1" eId="schedule-10-paragraph-16-2-b"><num>(b)</num><content><p>if the winding-up order was made more than 6 months after the day on which the petition was presented, a day not more than 5 years and 6 months before the day on which the winding-up order was made.</p></content></level></subparagraph><subparagraph eId="schedule-10-paragraph-16-3"><num>(3)</num><intro><p>Subsection (3)(b) has effect as if the reference to a day not earlier than 2 years before the date on which the winding up of the company commences were to—</p></intro><level class="para1" eId="schedule-10-paragraph-16-3-a"><num>(a)</num><content><p>a day not earlier than 2 years before the day on which the petition was presented, or</p></content></level><level class="para1" eId="schedule-10-paragraph-16-3-b"><num>(b)</num><content><p>if the winding-up order was made more than 6 months after the day on which the petition was presented, a day not more than 2 years and 6 months before the day on which the winding-up order was made.</p></content></level></subparagraph></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-10-paragraph-17" class="schProv1"><num>17</num><intro><p>In section 243 of the 1986 Act (unfair preferences (Scotland)), subsection (1) has effect as if the reference to a preference created not earlier than 6 months before the commencement of the winding up were to a preference created—</p></intro><level class="para1" eId="schedule-10-paragraph-17-a"><num>(a)</num><content><p>not earlier than 6 months before the day on which the petition was presented, or</p></content></level><level class="para1" eId="schedule-10-paragraph-17-b"><num>(b)</num><content><p>if the winding-up order was made more than 6 months after the day on which the petition was presented, not earlier than 12 months before the day on which the winding-up order was made.</p></content></level></paragraph>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="schedule-10-paragraph-17-a"><num>(a)</num><content><p>not earlier than 6 months before the day on which the petition was presented, or</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="schedule-10-paragraph-17-b"><num>(b)</num><content><p>if the winding-up order was made more than 6 months after the day on which the petition was presented, not earlier than 12 months before the day on which the winding-up order was made.</p></content></level>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-10-paragraph-18" class="schProv1"><num>18</num><subparagraph eId="schedule-10-paragraph-18-1"><num>(1)</num><content><p>Section 245 of the 1986 Act (avoidance of certain floating charges) has effect as follows.</p></content></subparagraph><subparagraph eId="schedule-10-paragraph-18-2"><num>(2)</num><intro><p>Subsection (3)(a) has effect as if the reference to the period of 2 years ending with the onset of insolvency were to the period which—</p></intro><level class="para1" eId="schedule-10-paragraph-18-2-a"><num>(a)</num><intro><p>begins with whichever is the later of—</p></intro><level class="para2" eId="schedule-10-paragraph-18-2-a-i"><num>(i)</num><content><p>the day 2 years before the day on which the petition was presented, and</p></content></level><level class="para2" eId="schedule-10-paragraph-18-2-a-ii"><num>(ii)</num><content><p>the day 2 years and 6 months before the day on which the winding-up order was made, and</p></content></level></level><level class="para1" eId="schedule-10-paragraph-18-2-b"><num>(b)</num><content><p>ends with the day on which the winding-up order was made.</p></content></level></subparagraph><subparagraph eId="schedule-10-paragraph-18-3"><num>(3)</num><intro><p>Subsection (3)(b) has effect as if the reference to the period of 12 months ending with the onset of insolvency were to the period which—</p></intro><level class="para1" eId="schedule-10-paragraph-18-3-a"><num>(a)</num><intro><p>begins with whichever is the later of—</p></intro><level class="para2" eId="schedule-10-paragraph-18-3-a-i"><num>(i)</num><content><p>the day 12 months before the day on which the petition was presented, and</p></content></level><level class="para2" eId="schedule-10-paragraph-18-3-a-ii"><num>(ii)</num><content><p>the day 18 months before the day on which the winding-up order was made, and</p></content></level></level><level class="para1" eId="schedule-10-paragraph-18-3-b"><num>(b)</num><content><p>ends with the day on which the winding-up order was made.</p></content></level></subparagraph></paragraph>
<hcontainer xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" name="crossheading" class="schGroup7"><heading>Identification details for a company</heading><paragraph eId="schedule-4-paragraph-87" class="schProv1"><num>87</num><subparagraph eId="schedule-4-paragraph-87-1"><num>(1)</num><intro><p>Where a provision of this Part of this Schedule requires a document to contain identification details for a company that is registered under the Companies Act 2006 in Scotland, the following information must be given—</p></intro><level class="para1" eId="schedule-4-paragraph-87-1-a"><num>(a)</num><content><p>the company’s registered name;</p></content></level><level class="para1" eId="schedule-4-paragraph-87-1-b"><num>(b)</num><content><p>its registered number;</p></content></level></subparagraph><subparagraph eId="schedule-4-paragraph-87-2"><num>(2)</num><intro><p>Where a provision of this Part of this Schedule requires a document to contain identification details for a company that has registered particulars under section 1046(1) of the Companies Act 2006 (registered overseas companies), the following information must be given—</p></intro><level class="para1" eId="schedule-4-paragraph-87-2-a"><num>(a)</num><content><p>the name registered by the company under section 1047 of that Act,</p></content></level><level class="para1" eId="schedule-4-paragraph-87-2-b"><num>(b)</num><content><p>the number under which it is registered, and</p></content></level><level class="para1" eId="schedule-4-paragraph-87-2-c"><num>(c)</num><content><p>the country or territory in which it is incorporated.</p></content></level></subparagraph><subparagraph eId="schedule-4-paragraph-87-3"><num>(3)</num><intro><p>Where a provision of this Part of this Schedule requires a document to contain identification details for an unregistered company that does not come within sub-paragraph (2) the following information must be given—</p></intro><level class="para1" eId="schedule-4-paragraph-87-3-a"><num>(a)</num><content><p>the company’s name, and</p></content></level><level class="para1" eId="schedule-4-paragraph-87-3-b"><num>(b)</num><content><p>the postal address of any principal place of business.</p></content></level></subparagraph></paragraph></hcontainer>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-4-paragraph-54" class="schProv1"><num>54</num><intro><p>A notice or statement under section <ref href="#d25e433">A6</ref><ref href="#d25e437">(1)</ref>, <ref href="#d25e618">A8</ref><ref href="#d25e628">(2)</ref>, <ref href="#d25e841">A10</ref><ref href="#d25e845">(1)</ref>, <ref href="#d25e920">A11</ref><ref href="#d25e924">(1)</ref> or <ref href="#d25e1090">A13</ref><ref href="#d25e1100">(2)</ref> of the Insolvency Act 1986 must state—</p></intro><level class="para1" eId="schedule-4-paragraph-54-a"><num>(a)</num><content><p>the provision under which it is given or made,</p></content></level><level class="para1" eId="schedule-4-paragraph-54-b"><num>(b)</num><content><p>the nature of the notice or statement,</p></content></level><level class="para1" eId="schedule-4-paragraph-54-c"><num>(c)</num><content><p>the date of the notice or statement, and</p></content></level><level class="para1" eId="schedule-4-paragraph-54-d"><num>(d)</num><content><p>the identification details for the company to which it relates.</p></content></level></paragraph>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="schedule-4-paragraph-54-a"><num>(a)</num><content><p>the provision under which it is given or made,</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="schedule-4-paragraph-54-b"><num>(b)</num><content><p>the nature of the notice or statement,</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="schedule-4-paragraph-54-c"><num>(c)</num><content><p>the date of the notice or statement, and</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="schedule-4-paragraph-54-d"><num>(d)</num><content><p>the identification details for the company to which it relates.</p></content></level>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-4-paragraph-57" class="schProv1"><num>57</num><subparagraph eId="schedule-4-paragraph-57-1"><num>(1)</num><intro><p>A statement under section <ref href="#d25e433">A6</ref><ref href="#d25e449">(1)(b)</ref> of the Insolvency Act 1986 must be headed “Proposed monitor’s statement and consent to act” and must contain the following—</p></intro><level class="para1" eId="schedule-4-paragraph-57-1-a"><num>(a)</num><content><p>a certificate that the proposed monitor is qualified to act as an insolvency practitioner in relation to the company,</p></content></level><level class="para1" eId="schedule-4-paragraph-57-1-b"><num>(b)</num><content><p>the proposed monitor’s IP number,</p></content></level><level class="para1" eId="schedule-4-paragraph-57-1-c"><num>(c)</num><content><p>the name of the relevant recognised professional body which is the source of the proposed monitor’s authorisation to act in relation to the company, and</p></content></level><level class="para1" eId="schedule-4-paragraph-57-1-d"><num>(d)</num><content><p>a statement that the proposed monitor consents to act as monitor in relation to the company.</p></content></level></subparagraph><subparagraph eId="schedule-4-paragraph-57-2"><num>(2)</num><content><p>In this paragraph “IP number” means the number assigned to an office-holder as an insolvency practitioner by the Secretary of State.</p></content></subparagraph></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-4-paragraph-60" class="schProv1"><num>60</num><intro><p>A notice under section <ref href="#d25e841">A10</ref><ref href="#d25e851">(1)(a)</ref> or <ref href="#d25e920">A11</ref><ref href="#d25e930">(1)(a)</ref> of the Insolvency Act 1986 must state—</p></intro><level class="para1" eId="schedule-4-paragraph-60-a"><num>(a)</num><content><p>the company’s address for service,</p></content></level><level class="para1" eId="schedule-4-paragraph-60-b"><num>(b)</num><content><p>the court in which the notice is to be lodged.</p></content></level></paragraph>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="schedule-4-paragraph-60-a"><num>(a)</num><content><p>the company’s address for service,</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="schedule-4-paragraph-60-b"><num>(b)</num><content><p>the court in which the notice is to be lodged.</p></content></level>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-4-paragraph-63" class="schProv1"><num>63</num><subparagraph eId="schedule-4-paragraph-63-1"><num>(1)</num><intro><p>The following apply, so far as relevant, for the purposes of a decision to consent to a revised end date for a moratorium under section <ref href="#d25e1007">A12</ref> of the Insolvency Act 1986—</p></intro><level class="para1" eId="schedule-4-paragraph-63-1-a"><num>(a)</num><content><p>Part 5 of the Scottish Insolvency Rules (decision making), apart from rule 5.8(3)(f) and (g);</p></content></level><level class="para1" eId="schedule-4-paragraph-63-1-b"><num>(b)</num><content><p>Part 6 of the Scottish Insolvency Rules (proxies), apart from rule 6.7.</p></content></level></subparagraph><subparagraph eId="schedule-4-paragraph-63-2"><num>(2)</num><content><p>In its application by virtue of sub-paragraph (1), Part 5 has effect subject to the modifications set out in paragraphs <ref href="#schedule-4-paragraph-64">64</ref> to <ref href="#schedule-4-paragraph-68">68</ref>.</p></content></subparagraph></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-4-paragraph-71" class="schProv1"><num>71</num><subparagraph eId="schedule-4-paragraph-71-1"><num>(1)</num><content><p>A notice under section <ref href="#d25e1464">A17</ref><ref href="#d25e1468">(1)</ref> of the Insolvency Act 1986 must be given within the period of 5 days beginning with the day on which the duty to give the notice arises.</p></content></subparagraph><subparagraph eId="schedule-4-paragraph-71-2"><num>(2)</num><intro><p>The notice must state—</p></intro><level class="para1" eId="schedule-4-paragraph-71-2-a"><num>(a)</num><content><p>the name of the company to which it relates, and</p></content></level><level class="para1" eId="schedule-4-paragraph-71-2-b"><num>(b)</num><content><p>the provision by virtue of which the moratorium was extended or came to an end.</p></content></level></subparagraph></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-4-paragraph-77" class="schProv1"><num>77</num><intro><p>For the purposes of deciding whether to bring a moratorium to an end under section <ref href="#d25e3388">A38</ref><ref href="#d25e3419">(1)(d)</ref> of the Insolvency Act 1986 the monitor must disregard—</p></intro><level class="para1" eId="schedule-4-paragraph-77-a"><num>(a)</num><content><p>any debts that the monitor has reasonable grounds for thinking are likely to be paid within 5 days of the decision, and</p></content></level><level class="para1" eId="schedule-4-paragraph-77-b"><num>(b)</num><content><p>any debts in respect of which the creditor has agreed to defer payment until a time that is later than the decision.</p></content></level></paragraph>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="schedule-4-paragraph-77-a"><num>(a)</num><content><p>any debts that the monitor has reasonable grounds for thinking are likely to be paid within 5 days of the decision, and</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="schedule-4-paragraph-77-b"><num>(b)</num><content><p>any debts in respect of which the creditor has agreed to defer payment until a time that is later than the decision.</p></content></level>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-4-paragraph-80" class="schProv1"><num>80</num><subparagraph eId="schedule-4-paragraph-80-1"><num>(1)</num><content><p>An administrator or liquidator of a company may apply to the court on the ground that remuneration charged by the monitor in relation to a prior moratorium for the company under Part A1 of the Insolvency Act 1986 was excessive.</p></content></subparagraph><subparagraph eId="schedule-4-paragraph-80-2"><num>(2)</num><content><p>An application under this paragraph may not be made after the end of the period of 2 years beginning with the day after the moratorium ends.</p></content></subparagraph><subparagraph eId="schedule-4-paragraph-80-3"><num>(3)</num><intro><p>On an application under this paragraph the court may—</p></intro><level class="para1" eId="schedule-4-paragraph-80-3-a"><num>(a)</num><content><p>dismiss the application,</p></content></level><level class="para1" eId="schedule-4-paragraph-80-3-b"><num>(b)</num><content><p>order the monitor to repay some or all of the remuneration, or</p></content></level><level class="para1" eId="schedule-4-paragraph-80-3-c"><num>(c)</num><content><p>make such other order as it thinks fit.</p></content></level></subparagraph><subparagraph eId="schedule-4-paragraph-80-4"><num>(4)</num><content><p>The expenses of an application under this paragraph are, unless the court orders otherwise, to be paid as an expense of the administration or liquidation.</p></content></subparagraph></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-4-paragraph-83" class="schProv1"><num>83</num><subparagraph eId="schedule-4-paragraph-83-1"><num>(1)</num><intro><p>Where paragraph 64A(1) of Schedule B1 to the Insolvency Act 1986 applies, the moratorium debts and pre-moratorium debts mentioned in paragraph 64A(2) of that Schedule are payable in the following order of priority—</p></intro><level class="para1" eId="schedule-4-paragraph-83-1-a"><num>(a)</num><content><p>amounts payable in respect of goods or services supplied during the moratorium under a contract where, but for section 233B(3) or (4) of that Act, the supplier would not have had to make that supply;</p></content></level><level class="para1" eId="schedule-4-paragraph-83-1-b"><num>(b)</num><content><p>wages or salary arising under a contract of employment;</p></content></level><level class="para1" eId="schedule-4-paragraph-83-1-c"><num>(c)</num><content><p>other debts or other liabilities apart from the monitor’s remuneration or expenses;</p></content></level><level class="para1" eId="schedule-4-paragraph-83-1-d"><num>(d)</num><content><p>the monitor’s remuneration or expenses.</p></content></level></subparagraph><subparagraph eId="schedule-4-paragraph-83-2"><num>(2)</num><content><p>In this paragraph “wages or salary” has the same meaning as in section <ref href="#d25e1722">A18</ref> of the Insolvency Act 1986.</p></content></subparagraph></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-4-paragraph-87" class="schProv1"><num>87</num><subparagraph eId="schedule-4-paragraph-87-1"><num>(1)</num><intro><p>Where a provision of this Part of this Schedule requires a document to contain identification details for a company that is registered under the Companies Act 2006 in Scotland, the following information must be given—</p></intro><level class="para1" eId="schedule-4-paragraph-87-1-a"><num>(a)</num><content><p>the company’s registered name;</p></content></level><level class="para1" eId="schedule-4-paragraph-87-1-b"><num>(b)</num><content><p>its registered number;</p></content></level></subparagraph><subparagraph eId="schedule-4-paragraph-87-2"><num>(2)</num><intro><p>Where a provision of this Part of this Schedule requires a document to contain identification details for a company that has registered particulars under section 1046(1) of the Companies Act 2006 (registered overseas companies), the following information must be given—</p></intro><level class="para1" eId="schedule-4-paragraph-87-2-a"><num>(a)</num><content><p>the name registered by the company under section 1047 of that Act,</p></content></level><level class="para1" eId="schedule-4-paragraph-87-2-b"><num>(b)</num><content><p>the number under which it is registered, and</p></content></level><level class="para1" eId="schedule-4-paragraph-87-2-c"><num>(c)</num><content><p>the country or territory in which it is incorporated.</p></content></level></subparagraph><subparagraph eId="schedule-4-paragraph-87-3"><num>(3)</num><intro><p>Where a provision of this Part of this Schedule requires a document to contain identification details for an unregistered company that does not come within sub-paragraph (2) the following information must be given—</p></intro><level class="para1" eId="schedule-4-paragraph-87-3-a"><num>(a)</num><content><p>the company’s name, and</p></content></level><level class="para1" eId="schedule-4-paragraph-87-3-b"><num>(b)</num><content><p>the postal address of any principal place of business.</p></content></level></subparagraph></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-4-paragraph-90" class="schProv1"><num>90</num><content><p>Expressions used in this Part of this Schedule are to be construed as if this Part of this Schedule were contained in Part A1 of the Insolvency Act 1986.</p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" eId="schedule-12-paragraph-2" class="schProv1"><num>2</num><content><p><mod>In Schedule 15 to the Building Societies Act 1986 (application of companies winding up legislation to building societies), after paragraph 32 insert—<quotedStructure startQuote="“" endQuote="”" uk:context="schedule" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="schedule" ukl:Format="double"><hcontainer name="crossheading" class="schGroup7"><heading>Protection of supplies</heading><paragraph class="schProv1"><num>32A</num><content><p>Section 233B of the Act (protection of supplies of goods and services) does not apply.</p></content></paragraph></hcontainer></quotedStructure></mod></p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" eId="schedule-13-paragraph-2" class="schProv1"><num>2</num><content><p><mod>In Schedule 15 to the Building Societies Act 1986 (application of companies winding up legislation to building societies), after paragraph 55D insert—<quotedStructure startQuote="“" endQuote="”" uk:context="schedule" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="schedule" ukl:Format="double"><hcontainer name="crossheading" class="schGroup7"><heading>Protection of supplies</heading><paragraph class="schProv1"><num>55DA</num><content><p>Article 197B (protection of supplies of goods and services) does not apply.</p></content></paragraph></hcontainer></quotedStructure></mod></p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" xmlns:default="http://www.w3.org/1999/xhtml" xmlns:fo="http://www.w3.org/1999/XSL/Format" eId="schedule-4-paragraph-64" class="schProv1"><num>64</num><content><p><mod>Rule 5.11 of the Scottish Insolvency Rules (notice of decision procedures etc) has effect as if, before the first entry in the table, there were inserted—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="rule" ukl:Context="main" ukl:Format="double"><tblock class="table" ukl:Orientation="portrait"><foreign><default:table xmlns="http://www.w3.org/1999/xhtml"><default:col span="1" style="width:25%"/><default:col span="1" style="width:25%"/><default:col span="1" style="width:25%"/><default:col span="1" style="width:25%"/><default:tbody><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">moratorium</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">decision of pre-moratorium creditors under section <ref href="#d25e1007">A12</ref> of the Act</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">the pre-moratorium creditors</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">5 days</p></default:td></default:tr></default:tbody></default:table></foreign></tblock></quotedStructure><inline name="appendText">.</inline></mod></p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-4-paragraph-72" class="schProv1"><num>72</num><subparagraph eId="schedule-4-paragraph-72-1"><num>(1)</num><content><p>A notice under section <ref href="#d25e1464">A17</ref><ref href="#d25e1610">(2)</ref> or <ref href="#d25e1627">(3)</ref> of the Insolvency Act 1986 must be given within the period of 5 days beginning with the day on which the duty to give the notice arises.</p></content></subparagraph><subparagraph eId="schedule-4-paragraph-72-2"><num>(2)</num><intro><p>The notice must state—</p></intro><level class="para1" eId="schedule-4-paragraph-72-2-a"><num>(a)</num><content><p>the provision under which it is given,</p></content></level><level class="para1" eId="schedule-4-paragraph-72-2-b"><num>(b)</num><content><p>the nature of the notice,</p></content></level><level class="para1" eId="schedule-4-paragraph-72-2-c"><num>(c)</num><content><p>the date of the notice,</p></content></level><level class="para1" eId="schedule-4-paragraph-72-2-d"><num>(d)</num><content><p>that it is given by the monitor acting in that capacity,</p></content></level><level class="para1" eId="schedule-4-paragraph-72-2-e"><num>(e)</num><content><p>the name and contact details of the monitor, and</p></content></level><level class="para1" eId="schedule-4-paragraph-72-2-f"><num>(f)</num><content><p>the identification details for the company to which it relates.</p></content></level></subparagraph><subparagraph eId="schedule-4-paragraph-72-3"><num>(3)</num><content><p>A notice under section <ref href="#d25e1464">A17</ref><ref href="#d25e1610">(2)</ref> or <ref href="#d25e1627">(3)</ref> of the Insolvency Act 1986 that is given to the registrar of companies must be authenticated by or on behalf of the monitor.</p></content></subparagraph><subparagraph eId="schedule-4-paragraph-72-4"><num>(4)</num><content><p>Rule 1.6 of the Scottish Insolvency Rules applies for the purposes of authentication under sub-paragraph <ref href="#schedule-4-paragraph-32-3">(3)</ref>.</p></content></subparagraph></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" eId="schedule-12-paragraph-3" class="schProv1"><num>3</num><content><p><mod>In Schedule 15A to the Building Societies Act 1986 (application of other companies insolvency legislation to building societies), after paragraph 27F insert—<quotedStructure startQuote="“" endQuote="”" uk:context="schedule" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="schedule" ukl:Format="double"><hcontainer name="crossheading" class="schGroup7"><heading>Protection of supplies</heading><paragraph class="schProv1"><num>27FA</num><content><p>Section 233B of the Act (protection of supplies of goods and services) is omitted.</p></content></paragraph></hcontainer></quotedStructure></mod></p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" eId="schedule-13-paragraph-3" class="schProv1"><num>3</num><content><p><mod>In Schedule 15A to the Building Societies Act 1986 (application of other companies insolvency legislation to building societies), after paragraph 52 insert—<quotedStructure startQuote="“" endQuote="”" uk:context="schedule" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="schedule" ukl:Format="double"><hcontainer name="crossheading" class="schGroup7"><heading>Protection of supplies</heading><paragraph class="schProv1"><num>52A</num><content><p>Article 197B of the Order (protection of supplies of goods and services) is omitted.</p></content></paragraph></hcontainer></quotedStructure></mod></p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" eId="schedule-4-paragraph-65" class="schProv1"><num>65</num><content><p><mod>Rule 5.26 of the Scottish Insolvency Rules (creditors’ voting rights) has effect as if, before paragraph (1), there were inserted—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="rule" ukl:Context="main" ukl:Format="double"><paragraph><num>A1</num><intro><p>A pre-moratorium creditor is entitled to vote in a decision procedure under section <ref href="#d25e1007">A12</ref> of the Act only if—</p></intro><level class="para1"><num>(a)</num><content><p>the creditor has delivered to the convener a statement of claim and documentary evidence of debt, including any calculation for the purposes of rule 5.28 or 5.29,</p></content></level><level class="para1"><num>(b)</num><content><p>the statement of claim and documentary evidence of debt were received by the convener not later than the decision date, or in the case of a meeting, at or before the meeting, and</p></content></level><level class="para1"><num>(c)</num><content><p>the statement of claim and documentary evidence of debt has been admitted for the purposes of entitlement to vote.</p></content></level></paragraph></quotedStructure></mod></p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-4-paragraph-73" class="schProv1"><num>73</num><intro><p>Where a moratorium comes to an end under section <ref href="#d25e1400">A16</ref> of the Insolvency Act 1986 because the company has entered into a relevant insolvency procedure within the meaning of that section, the notices under section <ref href="#d25e1464">A17</ref><ref href="#d25e1468">(1)</ref> and <ref href="#d25e1610">(2)</ref> must state—</p></intro><level class="para1" eId="schedule-4-paragraph-73-a"><num>(a)</num><content><p>the date on which the company entered into the relevant insolvency procedure, and</p></content></level><level class="para1" eId="schedule-4-paragraph-73-b"><num>(b)</num><content><p>the name and contact details of the supervisor of the voluntary arrangement, the administrator or the liquidator.</p></content></level></paragraph>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="schedule-4-paragraph-73-a"><num>(a)</num><content><p>the date on which the company entered into the relevant insolvency procedure, and</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="schedule-4-paragraph-73-b"><num>(b)</num><content><p>the name and contact details of the supervisor of the voluntary arrangement, the administrator or the liquidator.</p></content></level>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" eId="schedule-12-paragraph-4" class="schProv1"><num>4</num><content><p><mod>In Schedule 10 to the Friendly Societies Act 1992 (application of companies winding up legislation to friendly societies), after paragraph 35 insert—<quotedStructure startQuote="“" endQuote="”" uk:context="schedule" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="schedule" ukl:Format="double"><hcontainer name="crossheading" class="schGroup7"><heading>Protection of supplies</heading><paragraph class="schProv1"><num>35A</num><content><p>Section 233B of the Act (protection of supplies of goods and services) does not apply.</p></content></paragraph></hcontainer></quotedStructure></mod></p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" eId="schedule-13-paragraph-4" class="schProv1"><num>4</num><content><p><mod>In Schedule 10 to the Friendly Societies Act 1992 (application of companies winding up legislation to friendly societies), after paragraph 65 insert—<quotedStructure startQuote="“" endQuote="”" uk:context="schedule" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="schedule" ukl:Format="double"><hcontainer name="crossheading" class="schGroup7"><heading>Protection of supplies</heading><paragraph class="schProv1"><num>65A</num><content><p>Article 197B of the Order (protection of supplies of goods and services) does not apply.</p></content></paragraph></hcontainer></quotedStructure></mod></p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" eId="schedule-4-paragraph-66" class="schProv1"><num>66</num><intro><p>Rule 5.28 of the Scottish Insolvency Rules (calculation of voting rights) has effect as if—</p></intro><level class="para1" eId="schedule-4-paragraph-66-a"><num>(a)</num><content><p><mod>before paragraph (1) there were inserted—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="rule" ukl:Context="main" ukl:Format="double"><paragraph><num>A1</num><content><p>In relation to a decision to consent to a revised end date for a moratorium under section <ref href="#d25e1007">A12</ref> of the Act votes are calculated according to the amount of each creditor’s claim at the decision date.</p></content></paragraph></quotedStructure><inline name="appendText">;</inline></mod></p></content></level><level class="para1" eId="schedule-4-paragraph-66-b"><num>(b)</num><content><p><mod>after paragraph (2) there were inserted—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="rule" ukl:Context="main" ukl:Format="double"><paragraph><num>(2A)</num><content><p>But in relation to a decision to consent to a revised end date for a moratorium under section <ref href="#d25e1007">A12</ref> of the Act, a debt of an unliquidated or unascertained amount is to be valued at £1 for the purposes of voting unless the convener or chair or an appointed person decides to put a higher value on it.</p></content></paragraph></quotedStructure><inline name="appendText">;</inline></mod></p></content></level><level class="para1" eId="schedule-4-paragraph-66-c"><num>(c)</num><content><p><mod>in paragraph (6), after sub-paragraph (b) there were inserted—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="rule" ukl:Context="main" ukl:Format="double"><level class="para1"><num>(c)</num><content><p>where the decision relates to whether to consent to a revised end date for a moratorium under section <ref href="#d25e1007">A12</ref> of the Act.</p></content></level></quotedStructure></mod></p></content></level></paragraph>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" class="para1" eId="schedule-4-paragraph-66-a"><num>(a)</num><content><p><mod>before paragraph (1) there were inserted—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="rule" ukl:Context="main" ukl:Format="double"><paragraph><num>A1</num><content><p>In relation to a decision to consent to a revised end date for a moratorium under section <ref href="#d25e1007">A12</ref> of the Act votes are calculated according to the amount of each creditor’s claim at the decision date.</p></content></paragraph></quotedStructure><inline name="appendText">;</inline></mod></p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" class="para1" eId="schedule-4-paragraph-66-b"><num>(b)</num><content><p><mod>after paragraph (2) there were inserted—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="rule" ukl:Context="main" ukl:Format="double"><paragraph><num>(2A)</num><content><p>But in relation to a decision to consent to a revised end date for a moratorium under section <ref href="#d25e1007">A12</ref> of the Act, a debt of an unliquidated or unascertained amount is to be valued at £1 for the purposes of voting unless the convener or chair or an appointed person decides to put a higher value on it.</p></content></paragraph></quotedStructure><inline name="appendText">;</inline></mod></p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" class="para1" eId="schedule-4-paragraph-66-c"><num>(c)</num><content><p><mod>in paragraph (6), after sub-paragraph (b) there were inserted—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="rule" ukl:Context="main" ukl:Format="double"><level class="para1"><num>(c)</num><content><p>where the decision relates to whether to consent to a revised end date for a moratorium under section <ref href="#d25e1007">A12</ref> of the Act.</p></content></level></quotedStructure></mod></p></content></level>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-4-paragraph-74" class="schProv1"><num>74</num><subparagraph eId="schedule-4-paragraph-74-1"><num>(1)</num><content><p>A notice under section <ref href="#d25e1464">A17</ref><ref href="#d25e1633">(4)</ref> of the Insolvency Act 1986 must be given within the period of 3 business days beginning with the day on which the notice under section <ref href="#d25e3388">A38</ref>(1) is lodged in the court.</p></content></subparagraph><subparagraph eId="schedule-4-paragraph-74-2"><num>(2)</num><content><p>The notice under section <ref href="#d25e1464">A17</ref><ref href="#d25e1633">(4)</ref> of that Act must be accompanied by the notice that the monitor has lodged in the court under section <ref href="#d25e3388">A38</ref>(1) of that Act.</p></content></subparagraph></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" eId="schedule-4-paragraph-67" class="schProv1"><num>67</num><content><p><mod>Rule 5.29 of the Scottish Insolvency Rules (calculation of voting rights: hire-purchase agreements) has effect as if, before paragraph (1), there were inserted—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="rule" ukl:Context="main" ukl:Format="double"><paragraph><num>A1</num><content><p>In relation to a decision to consent to a revised end date for a moratorium under section <ref href="#d25e1007">A12</ref> of the Act, a pre-moratorium creditor under a hire-purchase agreement is entitled to vote in respect of the amount of the debt due and payable by the company at the decision date.</p></content></paragraph><paragraph><num>B1</num><content><p>In calculating the amount of any debt for the purpose of paragraph (A1), no account is to be taken of any amount attributable to the exercise of any right under the relevant agreement so far as the right has become exercisable solely by virtue of a moratorium for the company coming into force.</p></content></paragraph></quotedStructure></mod></p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" eId="schedule-4-paragraph-68" class="schProv1"><num>68</num><content><p><mod>Rule 5.31 of the Scottish Insolvency Rules (requisite majorities) has effect as if, before paragraph (1), there were inserted—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="rule" ukl:Context="main" ukl:Format="double"><paragraph><num>A1</num><intro><p>Subject to paragraph (B1), a decision to consent to a revised end date for a moratorium under section <ref href="#d25e1007">A12</ref> of the Act is made if, of those voting—</p></intro><level class="para1"><num>(a)</num><content><p>a majority (in value) of the pre-moratorium creditors who are secured creditors vote in favour of the proposed decision, and</p></content></level><level class="para1"><num>(b)</num><content><p>a majority (in value) of the pre-moratorium creditors who are unsecured creditors vote in favour of the proposed decision.</p></content></level></paragraph><paragraph><num>B1</num><intro><p>But a decision to consent to a revised end date for a moratorium under section <ref href="#d25e1007">A12</ref> of the Act is not made if, of those voting either—</p></intro><level class="para1"><num>(a)</num><content><p>a majority of the pre-moratorium creditors who are unconnected secured creditors vote against the proposed end date, or</p></content></level><level class="para1"><num>(b)</num><content><p>a majority of the pre-moratorium creditors who are unconnected unsecured creditors vote against the proposed end date.</p></content></level></paragraph><paragraph><num>C1</num><intro><p>For the purposes of paragraph (B1)—</p></intro><level class="para1"><num>(a)</num><content><p>a creditor is unconnected unless the convener or chair decides that the creditor is connected, and</p></content></level><level class="para1"><num>(b)</num><content><p>the total value of the unconnected creditors is the total value of those unconnected creditors whose claims have been admitted for voting.</p></content></level></paragraph></quotedStructure></mod></p></content></paragraph>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-27-2"><num>(2)</num><content><p>References to an enactment in subsection (1) include in particular that enactment as applied by any other enactment, with or without modifications, to partnerships, limited liability partnerships or other entities.</p></content></subsection>
<hcontainer xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" name="crossheading" ukl:Name="Pblock" eId="crossheading-power-to-amend-corporate-insolvency-or-governance-legislation-northern-ireland"><heading><i>Power to amend corporate insolvency or governance legislation: Northern Ireland</i></heading><section eId="section-28"><num>28</num><heading>Regulations to amend legislation: Northern Ireland</heading><subsection eId="section-28-1"><num>(1)</num><intro><p>The Department or the Secretary of State may by regulations amend, or modify the effect of, corporate insolvency or governance legislation so as to—</p></intro><level class="para1" eId="section-28-1-a"><num>(a)</num><content><p>change the conditions that must be met before a corporate insolvency or restructuring procedure applies to entities of any description (whether by adding, varying or removing any condition),</p></content></level><level class="para1" eId="section-28-1-b"><num>(b)</num><content><p>change the way in which a corporate insolvency or restructuring procedure applies in relation to entities of any description, or</p></content></level><level class="para1" eId="section-28-1-c"><num>(c)</num><content><p>change or disapply any duty of a person with corporate responsibility or the liability of such a person to any sanction.</p></content></level></subsection><subsection eId="section-28-2"><num>(2)</num><intro><p>Regulations under this section may—</p></intro><level class="para1" eId="section-28-2-a"><num>(a)</num><content><p>make different provision for different purposes;</p></content></level><level class="para1" eId="section-28-2-b"><num>(b)</num><content><p>make provision binding the Crown.</p></content></level></subsection><subsection eId="section-28-3"><num>(3)</num><content><p>Regulations under this section must be made in accordance with sections 29 to 35.</p></content></subsection><subsection eId="section-28-4"><num>(4)</num><content><p>In sections 29 to 35, “<term refersTo="#term-relevant-authority" eId="term-relevant-authority">relevant authority</term>” means the Department or the Secretary of State.</p></content></subsection></section><section eId="section-29"><num>29</num><heading>Purposes</heading><subsection eId="section-29-1"><num>(1)</num><intro><p>A relevant authority may only make regulations under section 28(1)(a) or (b) if satisfied that the regulations are expedient for any of the following purposes—</p></intro><level class="para1" eId="section-29-1-a"><num>(a)</num><content><p>reducing, or assisting in the reduction of, the number of entities entering into corporate insolvency or restructuring procedures for reasons relating to the effects of coronavirus on businesses or on the economy of the United Kingdom;</p></content></level><level class="para1" eId="section-29-1-b"><num>(b)</num><content><p>mitigating or otherwise dealing with the effect on corporate insolvency or restructuring procedures of any increase or potential increase in the number of entities entering into those procedures for the reasons referred to in paragraph (a);</p></content></level><level class="para1" eId="section-29-1-c"><num>(c)</num><intro><p>mitigating difficulties that corporate insolvency or restructuring procedures might impose on a business in view of—</p></intro><level class="para2" eId="section-29-1-c-i"><num>(i)</num><content><p>any worsening of the financial position of the business in consequence of, or for reasons relating to, coronavirus,</p></content></level><level class="para2" eId="section-29-1-c-ii"><num>(ii)</num><content><p>constraints on people's ability to work, or to be in proximity to each other, as a result of coronavirus, or</p></content></level><level class="para2" eId="section-29-1-c-iii"><num>(iii)</num><content><p>measures for public health taken in response to coronavirus.</p></content></level></level></subsection><subsection eId="section-29-2"><num>(2)</num><content><p>A relevant authority may only make regulations under section 28(1)(c) if satisfied that the regulations are expedient for the purpose of securing that the duties of persons with corporate responsibility, or the liability of those persons to any sanction, take due account of the effects of coronavirus on businesses or on the economy of the United Kingdom.</p></content></subsection></section><section eId="section-30"><num>30</num><heading>Restrictions</heading><subsection eId="section-30-1"><num>(1)</num><content><p>Before making regulations under section 28 the relevant authority concerned must consider the effect of the regulations on persons likely to be affected by them (for example, debtors, creditors or employees).</p></content></subsection><subsection eId="section-30-2"><num>(2)</num><intro><p>A relevant authority may only make regulations under section 28 if satisfied—</p></intro><level class="para1" eId="section-30-2-a"><num>(a)</num><content><p>that the need for the provision made by the regulations is urgent,</p></content></level><level class="para1" eId="section-30-2-b"><num>(b)</num><content><p>that the provision made by the regulations is proportionate to the purpose for which it is made,</p></content></level><level class="para1" eId="section-30-2-c"><num>(c)</num><content><p>that it is not practicable without legislation to bring about the result intended to be brought about by that provision, and</p></content></level><level class="para1" eId="section-30-2-d"><num>(d)</num><content><p>if a Northern Ireland Department or the Secretary of State could make the same provision in exercise of power under a statutory provision other than section 28, that doing so would risk not achieving the purpose for which the regulations are made (because of possible delay or for any other reason).</p></content></level></subsection><subsection eId="section-30-3"><num>(3)</num><intro><p>Regulations under section 28—</p></intro><level class="para1" eId="section-30-3-a"><num>(a)</num><content><p>may not create a criminal offence or civil penalty (but may modify the circumstances in which a person is guilty of an existing offence or liable for an existing civil penalty);</p></content></level><level class="para1" eId="section-30-3-b"><num>(b)</num><content><p>may not make provision so as to impose or increase a fee.</p></content></level></subsection></section><section eId="section-31"><num>31</num><heading>Time-limited effect</heading><subsection eId="section-31-1"><num>(1)</num><intro><p>Regulations under section 28 must be framed so that any provision made by them—</p></intro><level class="para1" eId="section-31-1-a"><num>(a)</num><content><p>has effect only for a period not exceeding six months, or</p></content></level><level class="para1" eId="section-31-1-b"><num>(b)</num><content><p>applies only in relation to circumstances occurring in a period not exceeding six months.</p></content></level></subsection><subsection eId="section-31-2"><num>(2)</num><intro><p>This does not prevent further regulations under section 28 from—</p></intro><level class="para1" eId="section-31-2-a"><num>(a)</num><content><p>making the same provision for, or applying in relation to, subsequent periods (not exceeding six months at a time);</p></content></level><level class="para1" eId="section-31-2-b"><num>(b)</num><content><p>extending (by up to six months) the period for or in relation to which earlier regulations under that section apply.</p></content></level></subsection><subsection eId="section-31-3"><num>(3)</num><content><p>A relevant authority must keep regulations made by it under section 28 under review during the period for which they have effect or in relation to which they apply.</p></content></subsection><subsection eId="section-31-4"><num>(4)</num><intro><p>If on such a review the relevant authority is satisfied that that period—</p></intro><level class="para1" eId="section-31-4-a"><num>(a)</num><content><p>is longer than expedient for the purpose for which the regulations were made, or</p></content></level><level class="para1" eId="section-31-4-b"><num>(b)</num><content><p>has ceased to be proportionate to that purpose,</p></content></level><wrapUp><p>the relevant authority must by regulations under this subsection revoke or amend the regulations as appropriate.</p></wrapUp></subsection><subsection eId="section-31-5"><num>(5)</num><content><p>Regulations under subsection (4) may contain transitional provision or savings.</p></content></subsection></section><section eId="section-32"><num>32</num><heading>Expiry</heading><subsection eId="section-32-1"><num>(1)</num><content><p>A relevant authority may not make regulations under section 28 after <ins class="substitution first last" ukl:ChangeId="key-a70a3b31755a526f1ec19ef4ffc62138-1646752087993" ukl:CommentaryRef="key-a70a3b31755a526f1ec19ef4ffc62138"><noteRef uk:name="commentary" href="#key-a70a3b31755a526f1ec19ef4ffc62138" class="commentary"/>29 April 2022</ins>.</p></content></subsection><subsection eId="section-32-2"><num>(2)</num><intro><p>Where regulations under section 28 are in force on the date specified in subsection (1), that subsection does not—</p></intro><level class="para1" eId="section-32-2-a"><num>(a)</num><content><p>affect the continued operation of the regulations, or</p></content></level><level class="para1" eId="section-32-2-b"><num>(b)</num><content><p>prevent the making of further regulations under section 28 on one or more occasions, where those further regulations make the same provision for, or applying in relation to, subsequent periods (not exceeding six months at a time).</p></content></level></subsection><subsection eId="section-32-3"><num>(3)</num><content><p>A relevant authority may by regulations substitute a later date for the date for the time being specified in subsection (1).</p></content></subsection><subsection eId="section-32-4"><num>(4)</num><intro><p>The power in subsection (3)—</p></intro><level class="para1" eId="section-32-4-a"><num>(a)</num><intro><p>may not be exercised so as to substitute a date which is—</p></intro><level class="para2" eId="section-32-4-a-i"><num>(i)</num><content><p>after the period of one year beginning with the date for the time being specified in subsection (1), or</p></content></level><level class="para2" eId="section-32-4-a-ii"><num>(ii)</num><content><p>after the period of two years beginning with the date on which this Act is passed, but</p></content></level></level><level class="para1" eId="section-32-4-b"><num>(b)</num><content><p>may be exercised more than once.</p></content></level></subsection></section><section eId="section-33"><num>33</num><heading>Consequential provision etc</heading><subsection eId="section-33-1"><num>(1)</num><content><p>A relevant authority may by regulations make consequential, incidental or supplementary provision, or transitional provision or savings, in connection with provision made by regulations under section 28.</p></content></subsection><subsection eId="section-33-2"><num>(2)</num><intro><p>Regulations under this section may—</p></intro><level class="para1" eId="section-33-2-a"><num>(a)</num><content><p>make provision by amending or modifying the effect of any statutory provision (including this Act);</p></content></level><level class="para1" eId="section-33-2-b"><num>(b)</num><content><p>make different provision for different purposes;</p></content></level><level class="para1" eId="section-33-2-c"><num>(c)</num><content><p>make provision binding the Crown.</p></content></level></subsection></section><section eId="section-34"><num>34</num><heading>Procedure for regulations made by the Department</heading><subsection eId="section-34-1"><num>(1)</num><content><p>Any power of the Department to make regulations under sections 28 to 33 is exercisable by statutory rule for the purposes of the Statutory Rules (Northern Ireland) Order 1979 (S.I. 1979/1573 (N.I. 12)).</p></content></subsection><subsection eId="section-34-2"><num>(2)</num><content><p>Regulations made under section 28 by the Department, other than any to which subsection (5) applies, and regulations made under section 33 by the Department which make provision by amending an Act or Northern Ireland legislation, must be laid before the Assembly as soon as reasonably practicable after being made.</p></content></subsection><subsection eId="section-34-3"><num>(3)</num><content><p>Regulations laid before the Assembly by virtue of subsection (2) cease to have effect at the end of the period of 40 days beginning with the day on which the regulations are made, unless during that period the regulations are approved by a resolution of the Assembly.</p></content></subsection><subsection eId="section-34-4"><num>(4)</num><intro><p>In calculating the period of 40 days, no account is to be taken of any time during which the Assembly is—</p></intro><level class="para1" eId="section-34-4-a"><num>(a)</num><content><p>dissolved, or</p></content></level><level class="para1" eId="section-34-4-b"><num>(b)</num><content><p>in recess for more than 4 days, or</p></content></level><level class="para1" eId="section-34-4-c"><num>(c)</num><content><p>adjourned for more than 6 days.</p></content></level></subsection><subsection eId="section-34-5"><num>(5)</num><intro><p>Where regulations cease to have effect as a result of subsection (3) that does not—</p></intro><level class="para1" eId="section-34-5-a"><num>(a)</num><content><p>affect anything previously done under or by virtue of the regulations, or</p></content></level><level class="para1" eId="section-34-5-b"><num>(b)</num><content><p>prevent the making of new regulations.</p></content></level></subsection><subsection eId="section-34-6"><num>(6)</num><content><p>Regulations made by the Department under section 28 which merely revoke other regulations under that section (with or without transitional provision), and regulations made by the Department under section 31(4), are subject to negative resolution within the meaning of section 41(6) the 1954 Act.</p></content></subsection><subsection eId="section-34-7"><num>(7)</num><content><p>Regulations under section 32(3) may not be made by the Department unless a draft of the regulations has been laid before, and approved by a resolution of, the Assembly.</p></content></subsection><subsection eId="section-34-8"><num>(8)</num><content><p>Regulations made by the Department under section 33 which do not make provision by amending an Act or Northern Ireland legislation are subject to negative resolution within the meaning of section 41(6) of the 1954 Act, but this does not apply to any contained in a statutory rule by virtue of subsection (9).</p></content></subsection><subsection eId="section-34-9"><num>(9)</num><content><p>A statutory rule that (in accordance with subsection (2)) is laid before the Assembly may contain regulations under section 33 that would, but for subsection (8) and this subsection, be subject to negative resolution within the meaning of section 41(6) of the 1954 Act.</p></content></subsection><subsection eId="section-34-10"><num>(10)</num><content><p>Section 41(3) of the 1954 Act applies for the purposes of subsection (7) in relation to the laying of a draft as it applies in relation to the laying of a statutory document under an enactment.</p></content></subsection><subsection eId="section-34-11"><num>(11)</num><intro><p>In this section—</p></intro><hcontainer name="definition"><content><p>“<term refersTo="#term-the-1954-act" eId="term-the-1954-act">the 1954 Act</term>” means the Interpretation Act (Northern Ireland) 1954 (c. 33 (N.I.));</p></content></hcontainer><hcontainer name="definition"><content><p>“<term refersTo="#term-the-assembly" eId="term-the-assembly">the Assembly</term>” means the Northern Ireland Assembly.</p></content></hcontainer></subsection></section><section eId="section-35"><num>35</num><heading>Procedure for regulations made by the Secretary of State</heading><subsection eId="section-35-1"><num>(1)</num><content><p>Regulations made by the Secretary of State under sections 28 to 33 are to be made by statutory instrument.</p></content></subsection><subsection eId="section-35-2"><num>(2)</num><intro><p>A statutory instrument containing—</p></intro><level class="para1" eId="section-35-2-a"><num>(a)</num><content><p>regulations made under section 28 by the Secretary of State, other than one to which subsection (6)(a) applies, or</p></content></level><level class="para1" eId="section-35-2-b"><num>(b)</num><content><p>regulations made under section 33 by the Secretary of State which make provision by amending an Act,</p></content></level><wrapUp><p>must be laid before Parliament as soon as reasonably practicable after being made.</p></wrapUp></subsection><subsection eId="section-35-3"><num>(3)</num><content><p>Regulations contained in a statutory instrument laid before Parliament by virtue of subsection (2) cease to have effect at the end of the period of 40 days beginning with the day on which the instrument is made, unless during that period the instrument is approved by a resolution of each House of Parliament.</p></content></subsection><subsection eId="section-35-4"><num>(4)</num><intro><p>In calculating the period of 40 days, no account is to be taken of any time during which—</p></intro><level class="para1" eId="section-35-4-a"><num>(a)</num><content><p>Parliament is dissolved or prorogued, or</p></content></level><level class="para1" eId="section-35-4-b"><num>(b)</num><content><p>both Houses of Parliament are adjourned for more than 4 days.</p></content></level></subsection><subsection eId="section-35-5"><num>(5)</num><intro><p>Where regulations cease to have effect as a result of subsection (3) that does not—</p></intro><level class="para1" eId="section-35-5-a"><num>(a)</num><content><p>affect anything previously done under or by virtue of the regulations, or</p></content></level><level class="para1" eId="section-35-5-b"><num>(b)</num><content><p>prevent the making of new regulations.</p></content></level></subsection><subsection eId="section-35-6"><num>(6)</num><intro><p>A statutory instrument containing—</p></intro><level class="para1" eId="section-35-6-a"><num>(a)</num><content><p>regulations made by the Secretary of State under section 28 which merely revoke other regulations under that section (with or without transitional provision), or</p></content></level><level class="para1" eId="section-35-6-b"><num>(b)</num><content><p>regulations made by the Secretary of State under section 31(4),</p></content></level><wrapUp><p>is subject to annulment in pursuance of a resolution of either House of Parliament.</p></wrapUp></subsection><subsection eId="section-35-7"><num>(7)</num><content><p>Regulations under section 32(3) may not be made by the Secretary of State unless a draft of the statutory instrument containing them has been laid before, and approved by a resolution of, each House of Parliament.</p></content></subsection><subsection eId="section-35-8"><num>(8)</num><content><p>A statutory instrument containing regulations made by the Secretary of State under section 33 which do not make provision by amending an Act is subject to annulment in pursuance of a resolution of either House of Parliament (unless the regulations were contained in a statutory instrument laid before Parliament by virtue of subsection (2)).</p></content></subsection></section><section eId="section-36"><num>36</num><heading>Interpretation</heading><subsection eId="section-36-1"><num>(1)</num><intro><p>In sections 28 to 35 and this section—</p></intro><hcontainer name="definition"><content><p>“<term refersTo="#term-coronavirus" eId="term-coronavirus">coronavirus</term>” means severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2);</p></content></hcontainer><hcontainer name="definition"><intro><p>“<term refersTo="#term-corporate-insolvency-or-governance-legislation" eId="term-corporate-insolvency-or-governance-legislation">corporate insolvency or governance legislation</term>” means—</p></intro><level class="para1"><num>(a)</num><content><p>the Insolvency (Northern Ireland) Order 1989 (S.I. 1989/2405 (N.I. 19)), except so far as relating to the insolvency or bankruptcy of individuals,</p></content></level><level class="para1"><num>(b)</num><content><p>Part 26A of the Companies Act 2006 (arrangements and reconstructions for companies in financial difficulty),</p></content></level><level class="para1"><num>(c)</num><content><p>the Company Directors Disqualification (Northern Ireland) Order 2002 (S.I. 2002/3150 (N.I. 4)),</p></content></level><level class="para1"><num>(d)</num><content><p>this Act,</p></content></level><level class="para1"><num>(e)</num><content><p>any statutory provision made under the enactments specified in paragraphs (a) to (d),</p></content></level><level class="para1"><num>(f)</num><content><p>the Cross-Border Insolvency Regulations (Northern Ireland) 2007 (S.R. (N.I.) 2007/115), and</p></content></level><level class="para1"><num>(g)</num><content><p>after IP completion day, <ref href="http://www.legislation.gov.uk/european/regulation/2015/0848">Regulation (EU) 2015/848</ref> on insolvency proceedings;</p></content></level></hcontainer><hcontainer name="definition"><intro><p>“<term refersTo="#term-corporate-insolvency-or-restructuring-procedure" eId="term-corporate-insolvency-or-restructuring-procedure">corporate insolvency or restructuring procedure</term>” means—</p></intro><level class="para1"><num>(a)</num><content><p>a moratorium under Part 1A of the Insolvency (Northern Ireland) Order 1989;</p></content></level><level class="para1"><num>(b)</num><content><p>a company voluntary arrangement under Part 2 of that Order (including a moratorium under Article 14A of that Order in a case where such a moratorium applies after the coming into force of paragraph 26 of Schedule 7);</p></content></level><level class="para1"><num>(c)</num><content><p>administration under Part 3 of that Order;</p></content></level><level class="para1"><num>(d)</num><content><p>receivership to which Part 4 of that Order applies;</p></content></level><level class="para1"><num>(e)</num><content><p>winding up under Part 5 or 6 of that Order;</p></content></level><level class="para1"><num>(f)</num><content><p>the procedure provided for by Part 26A of the Companies Act 2006;</p></content></level></hcontainer><hcontainer name="definition"><content><p>“<term refersTo="#term-the-department" eId="term-the-department">the Department</term>” means the Department for the Economy in Northern Ireland;</p></content></hcontainer><hcontainer name="definition"><intro><p>“<term refersTo="#term-person-with-corporate-responsibility" eId="term-person-with-corporate-responsibility">person with corporate responsibility</term>” means—</p></intro><level class="para1"><num>(a)</num><content><p>in relation to a company, a director, manager, secretary or other officer of the body,</p></content></level><level class="para1"><num>(b)</num><content><p>in relation to a partnership or limited liability partnership, a partner or member, and</p></content></level><level class="para1"><num>(c)</num><content><p>in relation to any other entity, a person with responsibility for managing the entity;</p></content></level></hcontainer><hcontainer name="definition"><content><p>“<term refersTo="#term-relevant-authority" eId="term-relevant-authority">relevant authority</term>” has the meaning given by section 28(4);</p></content></hcontainer><hcontainer name="definition"><content><p>“<term refersTo="#term-statutory-provision" eId="term-statutory-provision">statutory provision</term>” has the meaning given by section 1(f) of the Interpretation Act (Northern Ireland) 1954 (c. 33 (N.I.)).</p></content></hcontainer></subsection><subsection eId="section-36-2"><num>(2)</num><content><p>References to an enactment in subsection (1) include in particular that enactment as applied by any other enactment, with or without modifications, to partnerships, limited liability partnerships or other entities.</p></content></subsection><subsection eId="section-36-3"><num>(3)</num><content><p>In this section “<term refersTo="#term-enactment" eId="term-enactment">enactment</term>” includes an enactment contained in Northern Ireland legislation or an instrument made under Northern Ireland legislation.</p></content></subsection></section></hcontainer>
<section xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-28"><num>28</num><heading>Regulations to amend legislation: Northern Ireland</heading><subsection eId="section-28-1"><num>(1)</num><intro><p>The Department or the Secretary of State may by regulations amend, or modify the effect of, corporate insolvency or governance legislation so as to—</p></intro><level class="para1" eId="section-28-1-a"><num>(a)</num><content><p>change the conditions that must be met before a corporate insolvency or restructuring procedure applies to entities of any description (whether by adding, varying or removing any condition),</p></content></level><level class="para1" eId="section-28-1-b"><num>(b)</num><content><p>change the way in which a corporate insolvency or restructuring procedure applies in relation to entities of any description, or</p></content></level><level class="para1" eId="section-28-1-c"><num>(c)</num><content><p>change or disapply any duty of a person with corporate responsibility or the liability of such a person to any sanction.</p></content></level></subsection><subsection eId="section-28-2"><num>(2)</num><intro><p>Regulations under this section may—</p></intro><level class="para1" eId="section-28-2-a"><num>(a)</num><content><p>make different provision for different purposes;</p></content></level><level class="para1" eId="section-28-2-b"><num>(b)</num><content><p>make provision binding the Crown.</p></content></level></subsection><subsection eId="section-28-3"><num>(3)</num><content><p>Regulations under this section must be made in accordance with sections 29 to 35.</p></content></subsection><subsection eId="section-28-4"><num>(4)</num><content><p>In sections 29 to 35, “<term refersTo="#term-relevant-authority" eId="term-relevant-authority">relevant authority</term>” means the Department or the Secretary of State.</p></content></subsection></section>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-28-1"><num>(1)</num><intro><p>The Department or the Secretary of State may by regulations amend, or modify the effect of, corporate insolvency or governance legislation so as to—</p></intro><level class="para1" eId="section-28-1-a"><num>(a)</num><content><p>change the conditions that must be met before a corporate insolvency or restructuring procedure applies to entities of any description (whether by adding, varying or removing any condition),</p></content></level><level class="para1" eId="section-28-1-b"><num>(b)</num><content><p>change the way in which a corporate insolvency or restructuring procedure applies in relation to entities of any description, or</p></content></level><level class="para1" eId="section-28-1-c"><num>(c)</num><content><p>change or disapply any duty of a person with corporate responsibility or the liability of such a person to any sanction.</p></content></level></subsection>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-28-1-a"><num>(a)</num><content><p>change the conditions that must be met before a corporate insolvency or restructuring procedure applies to entities of any description (whether by adding, varying or removing any condition),</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-28-1-b"><num>(b)</num><content><p>change the way in which a corporate insolvency or restructuring procedure applies in relation to entities of any description, or</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-28-1-c"><num>(c)</num><content><p>change or disapply any duty of a person with corporate responsibility or the liability of such a person to any sanction.</p></content></level>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-28-2"><num>(2)</num><intro><p>Regulations under this section may—</p></intro><level class="para1" eId="section-28-2-a"><num>(a)</num><content><p>make different provision for different purposes;</p></content></level><level class="para1" eId="section-28-2-b"><num>(b)</num><content><p>make provision binding the Crown.</p></content></level></subsection>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-28-2-a"><num>(a)</num><content><p>make different provision for different purposes;</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-28-2-b"><num>(b)</num><content><p>make provision binding the Crown.</p></content></level>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-28-3"><num>(3)</num><content><p>Regulations under this section must be made in accordance with sections 29 to 35.</p></content></subsection>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-28-4"><num>(4)</num><content><p>In sections 29 to 35, “<term refersTo="#term-relevant-authority" eId="term-relevant-authority">relevant authority</term>” means the Department or the Secretary of State.</p></content></subsection>
<section xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-29"><num>29</num><heading>Purposes</heading><subsection eId="section-29-1"><num>(1)</num><intro><p>A relevant authority may only make regulations under section 28(1)(a) or (b) if satisfied that the regulations are expedient for any of the following purposes—</p></intro><level class="para1" eId="section-29-1-a"><num>(a)</num><content><p>reducing, or assisting in the reduction of, the number of entities entering into corporate insolvency or restructuring procedures for reasons relating to the effects of coronavirus on businesses or on the economy of the United Kingdom;</p></content></level><level class="para1" eId="section-29-1-b"><num>(b)</num><content><p>mitigating or otherwise dealing with the effect on corporate insolvency or restructuring procedures of any increase or potential increase in the number of entities entering into those procedures for the reasons referred to in paragraph (a);</p></content></level><level class="para1" eId="section-29-1-c"><num>(c)</num><intro><p>mitigating difficulties that corporate insolvency or restructuring procedures might impose on a business in view of—</p></intro><level class="para2" eId="section-29-1-c-i"><num>(i)</num><content><p>any worsening of the financial position of the business in consequence of, or for reasons relating to, coronavirus,</p></content></level><level class="para2" eId="section-29-1-c-ii"><num>(ii)</num><content><p>constraints on people's ability to work, or to be in proximity to each other, as a result of coronavirus, or</p></content></level><level class="para2" eId="section-29-1-c-iii"><num>(iii)</num><content><p>measures for public health taken in response to coronavirus.</p></content></level></level></subsection><subsection eId="section-29-2"><num>(2)</num><content><p>A relevant authority may only make regulations under section 28(1)(c) if satisfied that the regulations are expedient for the purpose of securing that the duties of persons with corporate responsibility, or the liability of those persons to any sanction, take due account of the effects of coronavirus on businesses or on the economy of the United Kingdom.</p></content></subsection></section>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-29-1"><num>(1)</num><intro><p>A relevant authority may only make regulations under section 28(1)(a) or (b) if satisfied that the regulations are expedient for any of the following purposes—</p></intro><level class="para1" eId="section-29-1-a"><num>(a)</num><content><p>reducing, or assisting in the reduction of, the number of entities entering into corporate insolvency or restructuring procedures for reasons relating to the effects of coronavirus on businesses or on the economy of the United Kingdom;</p></content></level><level class="para1" eId="section-29-1-b"><num>(b)</num><content><p>mitigating or otherwise dealing with the effect on corporate insolvency or restructuring procedures of any increase or potential increase in the number of entities entering into those procedures for the reasons referred to in paragraph (a);</p></content></level><level class="para1" eId="section-29-1-c"><num>(c)</num><intro><p>mitigating difficulties that corporate insolvency or restructuring procedures might impose on a business in view of—</p></intro><level class="para2" eId="section-29-1-c-i"><num>(i)</num><content><p>any worsening of the financial position of the business in consequence of, or for reasons relating to, coronavirus,</p></content></level><level class="para2" eId="section-29-1-c-ii"><num>(ii)</num><content><p>constraints on people's ability to work, or to be in proximity to each other, as a result of coronavirus, or</p></content></level><level class="para2" eId="section-29-1-c-iii"><num>(iii)</num><content><p>measures for public health taken in response to coronavirus.</p></content></level></level></subsection>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-29-1-a"><num>(a)</num><content><p>reducing, or assisting in the reduction of, the number of entities entering into corporate insolvency or restructuring procedures for reasons relating to the effects of coronavirus on businesses or on the economy of the United Kingdom;</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-29-1-b"><num>(b)</num><content><p>mitigating or otherwise dealing with the effect on corporate insolvency or restructuring procedures of any increase or potential increase in the number of entities entering into those procedures for the reasons referred to in paragraph (a);</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-29-1-c"><num>(c)</num><intro><p>mitigating difficulties that corporate insolvency or restructuring procedures might impose on a business in view of—</p></intro><level class="para2" eId="section-29-1-c-i"><num>(i)</num><content><p>any worsening of the financial position of the business in consequence of, or for reasons relating to, coronavirus,</p></content></level><level class="para2" eId="section-29-1-c-ii"><num>(ii)</num><content><p>constraints on people's ability to work, or to be in proximity to each other, as a result of coronavirus, or</p></content></level><level class="para2" eId="section-29-1-c-iii"><num>(iii)</num><content><p>measures for public health taken in response to coronavirus.</p></content></level></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para2" eId="section-29-1-c-i"><num>(i)</num><content><p>any worsening of the financial position of the business in consequence of, or for reasons relating to, coronavirus,</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para2" eId="section-29-1-c-ii"><num>(ii)</num><content><p>constraints on people's ability to work, or to be in proximity to each other, as a result of coronavirus, or</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para2" eId="section-29-1-c-iii"><num>(iii)</num><content><p>measures for public health taken in response to coronavirus.</p></content></level>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-29-2"><num>(2)</num><content><p>A relevant authority may only make regulations under section 28(1)(c) if satisfied that the regulations are expedient for the purpose of securing that the duties of persons with corporate responsibility, or the liability of those persons to any sanction, take due account of the effects of coronavirus on businesses or on the economy of the United Kingdom.</p></content></subsection>
<section xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-30"><num>30</num><heading>Restrictions</heading><subsection eId="section-30-1"><num>(1)</num><content><p>Before making regulations under section 28 the relevant authority concerned must consider the effect of the regulations on persons likely to be affected by them (for example, debtors, creditors or employees).</p></content></subsection><subsection eId="section-30-2"><num>(2)</num><intro><p>A relevant authority may only make regulations under section 28 if satisfied—</p></intro><level class="para1" eId="section-30-2-a"><num>(a)</num><content><p>that the need for the provision made by the regulations is urgent,</p></content></level><level class="para1" eId="section-30-2-b"><num>(b)</num><content><p>that the provision made by the regulations is proportionate to the purpose for which it is made,</p></content></level><level class="para1" eId="section-30-2-c"><num>(c)</num><content><p>that it is not practicable without legislation to bring about the result intended to be brought about by that provision, and</p></content></level><level class="para1" eId="section-30-2-d"><num>(d)</num><content><p>if a Northern Ireland Department or the Secretary of State could make the same provision in exercise of power under a statutory provision other than section 28, that doing so would risk not achieving the purpose for which the regulations are made (because of possible delay or for any other reason).</p></content></level></subsection><subsection eId="section-30-3"><num>(3)</num><intro><p>Regulations under section 28—</p></intro><level class="para1" eId="section-30-3-a"><num>(a)</num><content><p>may not create a criminal offence or civil penalty (but may modify the circumstances in which a person is guilty of an existing offence or liable for an existing civil penalty);</p></content></level><level class="para1" eId="section-30-3-b"><num>(b)</num><content><p>may not make provision so as to impose or increase a fee.</p></content></level></subsection></section>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-30-1"><num>(1)</num><content><p>Before making regulations under section 28 the relevant authority concerned must consider the effect of the regulations on persons likely to be affected by them (for example, debtors, creditors or employees).</p></content></subsection>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-30-2"><num>(2)</num><intro><p>A relevant authority may only make regulations under section 28 if satisfied—</p></intro><level class="para1" eId="section-30-2-a"><num>(a)</num><content><p>that the need for the provision made by the regulations is urgent,</p></content></level><level class="para1" eId="section-30-2-b"><num>(b)</num><content><p>that the provision made by the regulations is proportionate to the purpose for which it is made,</p></content></level><level class="para1" eId="section-30-2-c"><num>(c)</num><content><p>that it is not practicable without legislation to bring about the result intended to be brought about by that provision, and</p></content></level><level class="para1" eId="section-30-2-d"><num>(d)</num><content><p>if a Northern Ireland Department or the Secretary of State could make the same provision in exercise of power under a statutory provision other than section 28, that doing so would risk not achieving the purpose for which the regulations are made (because of possible delay or for any other reason).</p></content></level></subsection>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-30-2-a"><num>(a)</num><content><p>that the need for the provision made by the regulations is urgent,</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-30-2-b"><num>(b)</num><content><p>that the provision made by the regulations is proportionate to the purpose for which it is made,</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-30-2-c"><num>(c)</num><content><p>that it is not practicable without legislation to bring about the result intended to be brought about by that provision, and</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-30-2-d"><num>(d)</num><content><p>if a Northern Ireland Department or the Secretary of State could make the same provision in exercise of power under a statutory provision other than section 28, that doing so would risk not achieving the purpose for which the regulations are made (because of possible delay or for any other reason).</p></content></level>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-30-3"><num>(3)</num><intro><p>Regulations under section 28—</p></intro><level class="para1" eId="section-30-3-a"><num>(a)</num><content><p>may not create a criminal offence or civil penalty (but may modify the circumstances in which a person is guilty of an existing offence or liable for an existing civil penalty);</p></content></level><level class="para1" eId="section-30-3-b"><num>(b)</num><content><p>may not make provision so as to impose or increase a fee.</p></content></level></subsection>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-30-3-a"><num>(a)</num><content><p>may not create a criminal offence or civil penalty (but may modify the circumstances in which a person is guilty of an existing offence or liable for an existing civil penalty);</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-30-3-b"><num>(b)</num><content><p>may not make provision so as to impose or increase a fee.</p></content></level>
<section xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-31"><num>31</num><heading>Time-limited effect</heading><subsection eId="section-31-1"><num>(1)</num><intro><p>Regulations under section 28 must be framed so that any provision made by them—</p></intro><level class="para1" eId="section-31-1-a"><num>(a)</num><content><p>has effect only for a period not exceeding six months, or</p></content></level><level class="para1" eId="section-31-1-b"><num>(b)</num><content><p>applies only in relation to circumstances occurring in a period not exceeding six months.</p></content></level></subsection><subsection eId="section-31-2"><num>(2)</num><intro><p>This does not prevent further regulations under section 28 from—</p></intro><level class="para1" eId="section-31-2-a"><num>(a)</num><content><p>making the same provision for, or applying in relation to, subsequent periods (not exceeding six months at a time);</p></content></level><level class="para1" eId="section-31-2-b"><num>(b)</num><content><p>extending (by up to six months) the period for or in relation to which earlier regulations under that section apply.</p></content></level></subsection><subsection eId="section-31-3"><num>(3)</num><content><p>A relevant authority must keep regulations made by it under section 28 under review during the period for which they have effect or in relation to which they apply.</p></content></subsection><subsection eId="section-31-4"><num>(4)</num><intro><p>If on such a review the relevant authority is satisfied that that period—</p></intro><level class="para1" eId="section-31-4-a"><num>(a)</num><content><p>is longer than expedient for the purpose for which the regulations were made, or</p></content></level><level class="para1" eId="section-31-4-b"><num>(b)</num><content><p>has ceased to be proportionate to that purpose,</p></content></level><wrapUp><p>the relevant authority must by regulations under this subsection revoke or amend the regulations as appropriate.</p></wrapUp></subsection><subsection eId="section-31-5"><num>(5)</num><content><p>Regulations under subsection (4) may contain transitional provision or savings.</p></content></subsection></section>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-31-1"><num>(1)</num><intro><p>Regulations under section 28 must be framed so that any provision made by them—</p></intro><level class="para1" eId="section-31-1-a"><num>(a)</num><content><p>has effect only for a period not exceeding six months, or</p></content></level><level class="para1" eId="section-31-1-b"><num>(b)</num><content><p>applies only in relation to circumstances occurring in a period not exceeding six months.</p></content></level></subsection>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-31-1-a"><num>(a)</num><content><p>has effect only for a period not exceeding six months, or</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-31-1-b"><num>(b)</num><content><p>applies only in relation to circumstances occurring in a period not exceeding six months.</p></content></level>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-31-2"><num>(2)</num><intro><p>This does not prevent further regulations under section 28 from—</p></intro><level class="para1" eId="section-31-2-a"><num>(a)</num><content><p>making the same provision for, or applying in relation to, subsequent periods (not exceeding six months at a time);</p></content></level><level class="para1" eId="section-31-2-b"><num>(b)</num><content><p>extending (by up to six months) the period for or in relation to which earlier regulations under that section apply.</p></content></level></subsection>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-31-2-a"><num>(a)</num><content><p>making the same provision for, or applying in relation to, subsequent periods (not exceeding six months at a time);</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-31-2-b"><num>(b)</num><content><p>extending (by up to six months) the period for or in relation to which earlier regulations under that section apply.</p></content></level>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-31-3"><num>(3)</num><content><p>A relevant authority must keep regulations made by it under section 28 under review during the period for which they have effect or in relation to which they apply.</p></content></subsection>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-31-4"><num>(4)</num><intro><p>If on such a review the relevant authority is satisfied that that period—</p></intro><level class="para1" eId="section-31-4-a"><num>(a)</num><content><p>is longer than expedient for the purpose for which the regulations were made, or</p></content></level><level class="para1" eId="section-31-4-b"><num>(b)</num><content><p>has ceased to be proportionate to that purpose,</p></content></level><wrapUp><p>the relevant authority must by regulations under this subsection revoke or amend the regulations as appropriate.</p></wrapUp></subsection>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-31-4-a"><num>(a)</num><content><p>is longer than expedient for the purpose for which the regulations were made, or</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-31-4-b"><num>(b)</num><content><p>has ceased to be proportionate to that purpose,</p></content></level>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-31-5"><num>(5)</num><content><p>Regulations under subsection (4) may contain transitional provision or savings.</p></content></subsection>
<section xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" eId="section-32"><num>32</num><heading>Expiry</heading><subsection eId="section-32-1"><num>(1)</num><content><p>A relevant authority may not make regulations under section 28 after <ins class="substitution first last" ukl:ChangeId="key-a70a3b31755a526f1ec19ef4ffc62138-1646752087993" ukl:CommentaryRef="key-a70a3b31755a526f1ec19ef4ffc62138"><noteRef uk:name="commentary" href="#key-a70a3b31755a526f1ec19ef4ffc62138" class="commentary"/>29 April 2022</ins>.</p></content></subsection><subsection eId="section-32-2"><num>(2)</num><intro><p>Where regulations under section 28 are in force on the date specified in subsection (1), that subsection does not—</p></intro><level class="para1" eId="section-32-2-a"><num>(a)</num><content><p>affect the continued operation of the regulations, or</p></content></level><level class="para1" eId="section-32-2-b"><num>(b)</num><content><p>prevent the making of further regulations under section 28 on one or more occasions, where those further regulations make the same provision for, or applying in relation to, subsequent periods (not exceeding six months at a time).</p></content></level></subsection><subsection eId="section-32-3"><num>(3)</num><content><p>A relevant authority may by regulations substitute a later date for the date for the time being specified in subsection (1).</p></content></subsection><subsection eId="section-32-4"><num>(4)</num><intro><p>The power in subsection (3)—</p></intro><level class="para1" eId="section-32-4-a"><num>(a)</num><intro><p>may not be exercised so as to substitute a date which is—</p></intro><level class="para2" eId="section-32-4-a-i"><num>(i)</num><content><p>after the period of one year beginning with the date for the time being specified in subsection (1), or</p></content></level><level class="para2" eId="section-32-4-a-ii"><num>(ii)</num><content><p>after the period of two years beginning with the date on which this Act is passed, but</p></content></level></level><level class="para1" eId="section-32-4-b"><num>(b)</num><content><p>may be exercised more than once.</p></content></level></subsection></section>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" eId="section-32-1"><num>(1)</num><content><p>A relevant authority may not make regulations under section 28 after <ins class="substitution first last" ukl:ChangeId="key-a70a3b31755a526f1ec19ef4ffc62138-1646752087993" ukl:CommentaryRef="key-a70a3b31755a526f1ec19ef4ffc62138"><noteRef uk:name="commentary" href="#key-a70a3b31755a526f1ec19ef4ffc62138" class="commentary"/>29 April 2022</ins>.</p></content></subsection>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-32-2"><num>(2)</num><intro><p>Where regulations under section 28 are in force on the date specified in subsection (1), that subsection does not—</p></intro><level class="para1" eId="section-32-2-a"><num>(a)</num><content><p>affect the continued operation of the regulations, or</p></content></level><level class="para1" eId="section-32-2-b"><num>(b)</num><content><p>prevent the making of further regulations under section 28 on one or more occasions, where those further regulations make the same provision for, or applying in relation to, subsequent periods (not exceeding six months at a time).</p></content></level></subsection>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-32-2-a"><num>(a)</num><content><p>affect the continued operation of the regulations, or</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-32-2-b"><num>(b)</num><content><p>prevent the making of further regulations under section 28 on one or more occasions, where those further regulations make the same provision for, or applying in relation to, subsequent periods (not exceeding six months at a time).</p></content></level>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-32-3"><num>(3)</num><content><p>A relevant authority may by regulations substitute a later date for the date for the time being specified in subsection (1).</p></content></subsection>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-32-4"><num>(4)</num><intro><p>The power in subsection (3)—</p></intro><level class="para1" eId="section-32-4-a"><num>(a)</num><intro><p>may not be exercised so as to substitute a date which is—</p></intro><level class="para2" eId="section-32-4-a-i"><num>(i)</num><content><p>after the period of one year beginning with the date for the time being specified in subsection (1), or</p></content></level><level class="para2" eId="section-32-4-a-ii"><num>(ii)</num><content><p>after the period of two years beginning with the date on which this Act is passed, but</p></content></level></level><level class="para1" eId="section-32-4-b"><num>(b)</num><content><p>may be exercised more than once.</p></content></level></subsection>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-32-4-a"><num>(a)</num><intro><p>may not be exercised so as to substitute a date which is—</p></intro><level class="para2" eId="section-32-4-a-i"><num>(i)</num><content><p>after the period of one year beginning with the date for the time being specified in subsection (1), or</p></content></level><level class="para2" eId="section-32-4-a-ii"><num>(ii)</num><content><p>after the period of two years beginning with the date on which this Act is passed, but</p></content></level></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para2" eId="section-32-4-a-i"><num>(i)</num><content><p>after the period of one year beginning with the date for the time being specified in subsection (1), or</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para2" eId="section-32-4-a-ii"><num>(ii)</num><content><p>after the period of two years beginning with the date on which this Act is passed, but</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-32-4-b"><num>(b)</num><content><p>may be exercised more than once.</p></content></level>
<section xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-33"><num>33</num><heading>Consequential provision etc</heading><subsection eId="section-33-1"><num>(1)</num><content><p>A relevant authority may by regulations make consequential, incidental or supplementary provision, or transitional provision or savings, in connection with provision made by regulations under section 28.</p></content></subsection><subsection eId="section-33-2"><num>(2)</num><intro><p>Regulations under this section may—</p></intro><level class="para1" eId="section-33-2-a"><num>(a)</num><content><p>make provision by amending or modifying the effect of any statutory provision (including this Act);</p></content></level><level class="para1" eId="section-33-2-b"><num>(b)</num><content><p>make different provision for different purposes;</p></content></level><level class="para1" eId="section-33-2-c"><num>(c)</num><content><p>make provision binding the Crown.</p></content></level></subsection></section>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-33-1"><num>(1)</num><content><p>A relevant authority may by regulations make consequential, incidental or supplementary provision, or transitional provision or savings, in connection with provision made by regulations under section 28.</p></content></subsection>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-33-2"><num>(2)</num><intro><p>Regulations under this section may—</p></intro><level class="para1" eId="section-33-2-a"><num>(a)</num><content><p>make provision by amending or modifying the effect of any statutory provision (including this Act);</p></content></level><level class="para1" eId="section-33-2-b"><num>(b)</num><content><p>make different provision for different purposes;</p></content></level><level class="para1" eId="section-33-2-c"><num>(c)</num><content><p>make provision binding the Crown.</p></content></level></subsection>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-33-2-a"><num>(a)</num><content><p>make provision by amending or modifying the effect of any statutory provision (including this Act);</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-33-2-b"><num>(b)</num><content><p>make different provision for different purposes;</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-33-2-c"><num>(c)</num><content><p>make provision binding the Crown.</p></content></level>
<section xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-34"><num>34</num><heading>Procedure for regulations made by the Department</heading><subsection eId="section-34-1"><num>(1)</num><content><p>Any power of the Department to make regulations under sections 28 to 33 is exercisable by statutory rule for the purposes of the Statutory Rules (Northern Ireland) Order 1979 (S.I. 1979/1573 (N.I. 12)).</p></content></subsection><subsection eId="section-34-2"><num>(2)</num><content><p>Regulations made under section 28 by the Department, other than any to which subsection (5) applies, and regulations made under section 33 by the Department which make provision by amending an Act or Northern Ireland legislation, must be laid before the Assembly as soon as reasonably practicable after being made.</p></content></subsection><subsection eId="section-34-3"><num>(3)</num><content><p>Regulations laid before the Assembly by virtue of subsection (2) cease to have effect at the end of the period of 40 days beginning with the day on which the regulations are made, unless during that period the regulations are approved by a resolution of the Assembly.</p></content></subsection><subsection eId="section-34-4"><num>(4)</num><intro><p>In calculating the period of 40 days, no account is to be taken of any time during which the Assembly is—</p></intro><level class="para1" eId="section-34-4-a"><num>(a)</num><content><p>dissolved, or</p></content></level><level class="para1" eId="section-34-4-b"><num>(b)</num><content><p>in recess for more than 4 days, or</p></content></level><level class="para1" eId="section-34-4-c"><num>(c)</num><content><p>adjourned for more than 6 days.</p></content></level></subsection><subsection eId="section-34-5"><num>(5)</num><intro><p>Where regulations cease to have effect as a result of subsection (3) that does not—</p></intro><level class="para1" eId="section-34-5-a"><num>(a)</num><content><p>affect anything previously done under or by virtue of the regulations, or</p></content></level><level class="para1" eId="section-34-5-b"><num>(b)</num><content><p>prevent the making of new regulations.</p></content></level></subsection><subsection eId="section-34-6"><num>(6)</num><content><p>Regulations made by the Department under section 28 which merely revoke other regulations under that section (with or without transitional provision), and regulations made by the Department under section 31(4), are subject to negative resolution within the meaning of section 41(6) the 1954 Act.</p></content></subsection><subsection eId="section-34-7"><num>(7)</num><content><p>Regulations under section 32(3) may not be made by the Department unless a draft of the regulations has been laid before, and approved by a resolution of, the Assembly.</p></content></subsection><subsection eId="section-34-8"><num>(8)</num><content><p>Regulations made by the Department under section 33 which do not make provision by amending an Act or Northern Ireland legislation are subject to negative resolution within the meaning of section 41(6) of the 1954 Act, but this does not apply to any contained in a statutory rule by virtue of subsection (9).</p></content></subsection><subsection eId="section-34-9"><num>(9)</num><content><p>A statutory rule that (in accordance with subsection (2)) is laid before the Assembly may contain regulations under section 33 that would, but for subsection (8) and this subsection, be subject to negative resolution within the meaning of section 41(6) of the 1954 Act.</p></content></subsection><subsection eId="section-34-10"><num>(10)</num><content><p>Section 41(3) of the 1954 Act applies for the purposes of subsection (7) in relation to the laying of a draft as it applies in relation to the laying of a statutory document under an enactment.</p></content></subsection><subsection eId="section-34-11"><num>(11)</num><intro><p>In this section—</p></intro><hcontainer name="definition"><content><p>“<term refersTo="#term-the-1954-act" eId="term-the-1954-act">the 1954 Act</term>” means the Interpretation Act (Northern Ireland) 1954 (c. 33 (N.I.));</p></content></hcontainer><hcontainer name="definition"><content><p>“<term refersTo="#term-the-assembly" eId="term-the-assembly">the Assembly</term>” means the Northern Ireland Assembly.</p></content></hcontainer></subsection></section>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-34-1"><num>(1)</num><content><p>Any power of the Department to make regulations under sections 28 to 33 is exercisable by statutory rule for the purposes of the Statutory Rules (Northern Ireland) Order 1979 (S.I. 1979/1573 (N.I. 12)).</p></content></subsection>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-34-2"><num>(2)</num><content><p>Regulations made under section 28 by the Department, other than any to which subsection (5) applies, and regulations made under section 33 by the Department which make provision by amending an Act or Northern Ireland legislation, must be laid before the Assembly as soon as reasonably practicable after being made.</p></content></subsection>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-34-3"><num>(3)</num><content><p>Regulations laid before the Assembly by virtue of subsection (2) cease to have effect at the end of the period of 40 days beginning with the day on which the regulations are made, unless during that period the regulations are approved by a resolution of the Assembly.</p></content></subsection>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-34-4"><num>(4)</num><intro><p>In calculating the period of 40 days, no account is to be taken of any time during which the Assembly is—</p></intro><level class="para1" eId="section-34-4-a"><num>(a)</num><content><p>dissolved, or</p></content></level><level class="para1" eId="section-34-4-b"><num>(b)</num><content><p>in recess for more than 4 days, or</p></content></level><level class="para1" eId="section-34-4-c"><num>(c)</num><content><p>adjourned for more than 6 days.</p></content></level></subsection>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-34-4-a"><num>(a)</num><content><p>dissolved, or</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-34-4-b"><num>(b)</num><content><p>in recess for more than 4 days, or</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-34-4-c"><num>(c)</num><content><p>adjourned for more than 6 days.</p></content></level>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-34-5"><num>(5)</num><intro><p>Where regulations cease to have effect as a result of subsection (3) that does not—</p></intro><level class="para1" eId="section-34-5-a"><num>(a)</num><content><p>affect anything previously done under or by virtue of the regulations, or</p></content></level><level class="para1" eId="section-34-5-b"><num>(b)</num><content><p>prevent the making of new regulations.</p></content></level></subsection>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-34-5-a"><num>(a)</num><content><p>affect anything previously done under or by virtue of the regulations, or</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-34-5-b"><num>(b)</num><content><p>prevent the making of new regulations.</p></content></level>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-34-6"><num>(6)</num><content><p>Regulations made by the Department under section 28 which merely revoke other regulations under that section (with or without transitional provision), and regulations made by the Department under section 31(4), are subject to negative resolution within the meaning of section 41(6) the 1954 Act.</p></content></subsection>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-34-7"><num>(7)</num><content><p>Regulations under section 32(3) may not be made by the Department unless a draft of the regulations has been laid before, and approved by a resolution of, the Assembly.</p></content></subsection>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-34-8"><num>(8)</num><content><p>Regulations made by the Department under section 33 which do not make provision by amending an Act or Northern Ireland legislation are subject to negative resolution within the meaning of section 41(6) of the 1954 Act, but this does not apply to any contained in a statutory rule by virtue of subsection (9).</p></content></subsection>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-34-9"><num>(9)</num><content><p>A statutory rule that (in accordance with subsection (2)) is laid before the Assembly may contain regulations under section 33 that would, but for subsection (8) and this subsection, be subject to negative resolution within the meaning of section 41(6) of the 1954 Act.</p></content></subsection>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-34-10"><num>(10)</num><content><p>Section 41(3) of the 1954 Act applies for the purposes of subsection (7) in relation to the laying of a draft as it applies in relation to the laying of a statutory document under an enactment.</p></content></subsection>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-34-11"><num>(11)</num><intro><p>In this section—</p></intro><hcontainer name="definition"><content><p>“<term refersTo="#term-the-1954-act" eId="term-the-1954-act">the 1954 Act</term>” means the Interpretation Act (Northern Ireland) 1954 (c. 33 (N.I.));</p></content></hcontainer><hcontainer name="definition"><content><p>“<term refersTo="#term-the-assembly" eId="term-the-assembly">the Assembly</term>” means the Northern Ireland Assembly.</p></content></hcontainer></subsection>
<hcontainer xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" name="crossheading" class="schGroup7"><heading>Delivery of documents</heading><paragraph eId="schedule-4-paragraph-86" class="schProv1"><num>86</num><content><p>The following provisions of Chapter 9 of Part 1 of the Scottish Insolvency Rules apply for the purposes of proceedings under Part A1 of the Insolvency Act 1986 as if rule 1.32(1) included a reference to such proceedings—</p><blockList class="unordered none" ukl:Name="UnorderedList" ukl:Decoration="none"><item><p>rule 1.32(2) to (3) (delivery to registrar of companies);</p></item><item><p>rule 1.36 (delivery of documents to authorised recipients);</p></item><item><p>rule 1.37 (delivery of documents to joint office-holders);</p></item><item><p>rule 1.38 (postal delivery of documents);</p></item><item><p>rule 1.39 (delivery by document exchange);</p></item><item><p>rule 1.40 (personal delivery of documents);</p></item><item><p>rule 1.41 (electronic delivery of documents).</p></item></blockList></content></paragraph></hcontainer>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1"><num>(d)</num><content><p>receivership to which Part 4 of that Order applies;</p></content></level>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-4-paragraph-5" class="schProv1"><num>5</num><intro><p>During the relevant period, a company is not eligible for the purposes of section <ref href="#d25e268">A3</ref>, <ref href="#d25e320">A4</ref> or <ref href="#d25e375">A5</ref> of the Insolvency Act 1986 if the company—</p></intro><level class="para1" eId="schedule-4-paragraph-5-a"><num>(a)</num><content><p>has permission under Part 4A of the Financial Services and Markets Act 2000 to carry on a regulated activity within the meaning of that Act, and</p></content></level><level class="para1" eId="schedule-4-paragraph-5-b"><num>(b)</num><content><p>is not subject to a requirement imposed under that Act to refrain from holding money for clients.</p></content></level></paragraph>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="schedule-4-paragraph-5-a"><num>(a)</num><content><p>has permission under Part 4A of the Financial Services and Markets Act 2000 to carry on a regulated activity within the meaning of that Act, and</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="schedule-4-paragraph-5-b"><num>(b)</num><content><p>is not subject to a requirement imposed under that Act to refrain from holding money for clients.</p></content></level>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" eId="schedule-4-paragraph-9" class="schProv1"><num>9</num><content><p><mod>In relation to a moratorium that comes into force during the relevant period, section <ref href="#d25e3329">A35</ref><ref href="#d25e3333">(1)</ref> of the Insolvency Act 1986 has effect as if for the words from “it remains likely” to the end there were substituted <quotedText startQuote="“">—</quotedText><quotedStructure endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="double"><level class="para1"><num>(a)</num><content><p>it is likely that the moratorium will result in the rescue of the company as a going concern, or</p></content></level><level class="para1"><num>(b)</num><content><p>that, if one were to disregard any worsening of the financial position of the company for reasons relating to coronavirus, it is likely that the moratorium would result in the rescue of the company as a going concern.</p></content></level></quotedStructure></mod></p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-4-paragraph-14" class="schProv1"><num>14</num><intro><p>A notice or statement under section <ref href="#d25e433">A6</ref><ref href="#d25e437">(1)</ref>, <ref href="#d25e618">A8</ref><ref href="#d25e628">(2)</ref>, <ref href="#d25e841">A10</ref><ref href="#d25e845">(1)</ref>, <ref href="#d25e920">A11</ref><ref href="#d25e924">(1)</ref> or <ref href="#d25e1090">A13</ref><ref href="#d25e1100">(2)</ref> of the Insolvency Act 1986 must state—</p></intro><level class="para1" eId="schedule-4-paragraph-14-a"><num>(a)</num><content><p>the provision under which it is given or made,</p></content></level><level class="para1" eId="schedule-4-paragraph-14-b"><num>(b)</num><content><p>the nature of the notice or statement,</p></content></level><level class="para1" eId="schedule-4-paragraph-14-c"><num>(c)</num><content><p>the date of the notice or statement, and</p></content></level><level class="para1" eId="schedule-4-paragraph-14-d"><num>(d)</num><content><p>the identification details for the company to which it relates.</p></content></level></paragraph>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="schedule-4-paragraph-14-a"><num>(a)</num><content><p>the provision under which it is given or made,</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="schedule-4-paragraph-14-b"><num>(b)</num><content><p>the nature of the notice or statement,</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="schedule-4-paragraph-14-c"><num>(c)</num><content><p>the date of the notice or statement, and</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="schedule-4-paragraph-14-d"><num>(d)</num><content><p>the identification details for the company to which it relates.</p></content></level>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-4-paragraph-17" class="schProv1"><num>17</num><subparagraph eId="schedule-4-paragraph-17-1"><num>(1)</num><intro><p>A statement under section <ref href="#d25e433">A6</ref><ref href="#d25e449">(1)(b)</ref> of the Insolvency Act 1986 must be headed “Proposed monitor’s statement and consent to act” and must contain the following—</p></intro><level class="para1" eId="schedule-4-paragraph-17-1-a"><num>(a)</num><content><p>a certificate that the proposed monitor is qualified to act as an insolvency practitioner in relation to the company,</p></content></level><level class="para1" eId="schedule-4-paragraph-17-1-b"><num>(b)</num><content><p>the proposed monitor’s IP number,</p></content></level><level class="para1" eId="schedule-4-paragraph-17-1-c"><num>(c)</num><content><p>the name of the relevant recognised professional body which is the source of the proposed monitor’s authorisation to act in relation to the company, and</p></content></level><level class="para1" eId="schedule-4-paragraph-17-1-d"><num>(d)</num><content><p>a statement that the proposed monitor consents to act as monitor in relation to the company.</p></content></level></subparagraph><subparagraph eId="schedule-4-paragraph-17-2"><num>(2)</num><content><p>In this paragraph “IP number” means the number assigned to an office-holder as an insolvency practitioner by the Secretary of State.</p></content></subparagraph></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-4-paragraph-20" class="schProv1"><num>20</num><intro><p>A notice under section <ref href="#d25e841">A10</ref><ref href="#d25e851">(1)(a)</ref> or <ref href="#d25e920">A11</ref><ref href="#d25e930">(1)(a)</ref> of the Insolvency Act 1986 must state—</p></intro><level class="para1" eId="schedule-4-paragraph-20-a"><num>(a)</num><content><p>the company’s address for service, and</p></content></level><level class="para1" eId="schedule-4-paragraph-20-b"><num>(b)</num><content><p>the court (and where applicable, the division or district registry of that court) or hearing centre in which the notice is to be filed.</p></content></level></paragraph>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="schedule-4-paragraph-20-a"><num>(a)</num><content><p>the company’s address for service, and</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="schedule-4-paragraph-20-b"><num>(b)</num><content><p>the court (and where applicable, the division or district registry of that court) or hearing centre in which the notice is to be filed.</p></content></level>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-4-paragraph-23" class="schProv1"><num>23</num><subparagraph eId="schedule-4-paragraph-23-1"><num>(1)</num><intro><p>The following apply, so far as relevant, for the purposes of a decision to consent to a revised end date for a moratorium under section <ref href="#d25e1007">A12</ref> of the Insolvency Act 1986—</p></intro><level class="para1" eId="schedule-4-paragraph-23-1-a"><num>(a)</num><content><p>Part 15 of the England and Wales Insolvency Rules (decision making), apart from rule 15.8(3)(f) and (g);</p></content></level><level class="para1" eId="schedule-4-paragraph-23-1-b"><num>(b)</num><content><p>Part 16 of the England and Wales Insolvency Rules (proxies), apart from rule 16.7.</p></content></level></subparagraph><subparagraph eId="schedule-4-paragraph-23-2"><num>(2)</num><content><p>In its application by virtue of sub-paragraph (1), Part 15 has effect subject to the modifications set out in paragraphs <ref href="#schedule-4-paragraph-24">24</ref> to <ref href="#schedule-4-paragraph-28">28</ref>.</p></content></subparagraph></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-4-paragraph-36" class="schProv1"><num>36</num><subparagraph eId="schedule-4-paragraph-36-1"><num>(1)</num><content><p>A notice under section <ref href="#d25e3388">A38</ref>(1) of the Insolvency Act 1986 must be filed with the court as soon as practicable after the duty in that subsection arises.</p></content></subparagraph><subparagraph eId="schedule-4-paragraph-36-2"><num>(2)</num><intro><p>The notice must state—</p></intro><level class="para1" eId="schedule-4-paragraph-36-2-a"><num>(a)</num><content><p>the provision under which it is given,</p></content></level><level class="para1" eId="schedule-4-paragraph-36-2-b"><num>(b)</num><content><p>the nature of the notice,</p></content></level><level class="para1" eId="schedule-4-paragraph-36-2-c"><num>(c)</num><content><p>the date of the notice,</p></content></level><level class="para1" eId="schedule-4-paragraph-36-2-d"><num>(d)</num><content><p>the name and contact details of the monitor,</p></content></level><level class="para1" eId="schedule-4-paragraph-36-2-e"><num>(e)</num><content><p>the identification details for the company to which it relates,</p></content></level><level class="para1" eId="schedule-4-paragraph-36-2-f"><num>(f)</num><content><p>the grounds on which the moratorium is being terminated,</p></content></level><level class="para1" eId="schedule-4-paragraph-36-2-g"><num>(g)</num><content><p>the monitor’s reasons for concluding that those grounds are made out,</p></content></level><level class="para1" eId="schedule-4-paragraph-36-2-h"><num>(h)</num><content><p>the date on which the monitor concluded that those grounds were made out, and</p></content></level><level class="para1" eId="schedule-4-paragraph-36-2-i"><num>(i)</num><content><p>the court (and where applicable, the division or district registry of that court) or hearing centre in which the notice is to be filed.</p></content></level></subparagraph><subparagraph eId="schedule-4-paragraph-36-3"><num>(3)</num><content><p>The notice must be authenticated by or on behalf of the monitor.</p></content></subparagraph><subparagraph eId="schedule-4-paragraph-36-4"><num>(4)</num><content><p>Rule 1.5 of the England and Wales Insolvency Rules applies for the purposes of authentication under sub-paragraph <ref href="#schedule-4-paragraph-32-3">(3)</ref>.</p></content></subparagraph></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-4-paragraph-39" class="schProv1"><num>39</num><subparagraph eId="schedule-4-paragraph-39-1"><num>(1)</num><intro><p>A notice under section <ref href="#d25e3488">A39</ref><ref href="#d25e3579">(8)</ref> of the Insolvency Act 1986 must state—</p></intro><level class="para1" eId="schedule-4-paragraph-39-1-a"><num>(a)</num><content><p>the provision under which it is given,</p></content></level><level class="para1" eId="schedule-4-paragraph-39-1-b"><num>(b)</num><content><p>the nature of the notice,</p></content></level><level class="para1" eId="schedule-4-paragraph-39-1-c"><num>(c)</num><content><p>the date of the notice,</p></content></level><level class="para1" eId="schedule-4-paragraph-39-1-d"><num>(d)</num><content><p>the identification details for the company to which it relates,</p></content></level><level class="para1" eId="schedule-4-paragraph-39-1-e"><num>(e)</num><content><p>that it is given by the monitor acting in that capacity, and</p></content></level><level class="para1" eId="schedule-4-paragraph-39-1-f"><num>(f)</num><content><p>the name and contact details of the monitor.</p></content></level></subparagraph><subparagraph eId="schedule-4-paragraph-39-2"><num>(2)</num><content><p>The notice must be authenticated by the monitor.</p></content></subparagraph><subparagraph eId="schedule-4-paragraph-39-3"><num>(3)</num><content><p>Rule 1.5 of the England and Wales Insolvency Rules applies for the purposes of authentication under this paragraph.</p></content></subparagraph></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-4-paragraph-42" class="schProv1"><num>42</num><subparagraph eId="schedule-4-paragraph-42-1"><num>(1)</num><intro><p>Where section 174A of the Insolvency Act 1986 applies, the moratorium debts and pre-moratorium debts mentioned in subsection (2)(b) of that section are payable in the following order of priority—</p></intro><level class="para1" eId="schedule-4-paragraph-42-1-a"><num>(a)</num><content><p>amounts payable in respect of goods or services supplied during the moratorium under a contract where, but for section 233B(3) or (4) of that Act, the supplier would not have had to make that supply;</p></content></level><level class="para1" eId="schedule-4-paragraph-42-1-b"><num>(b)</num><content><p>wages or salary arising under a contract of employment;</p></content></level><level class="para1" eId="schedule-4-paragraph-42-1-c"><num>(c)</num><content><p>other debts or other liabilities apart from the monitor’s remuneration or expenses;</p></content></level><level class="para1" eId="schedule-4-paragraph-42-1-d"><num>(d)</num><content><p>the monitor’s remuneration or expenses.</p></content></level></subparagraph><subparagraph eId="schedule-4-paragraph-42-2"><num>(2)</num><content><p>In this paragraph “wages or salary” has the same meaning as in section <ref href="#d25e1722">A18</ref> of the Insolvency Act 1986.</p></content></subparagraph></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" eId="schedule-4-paragraph-86" class="schProv1"><num>86</num><content><p>The following provisions of Chapter 9 of Part 1 of the Scottish Insolvency Rules apply for the purposes of proceedings under Part A1 of the Insolvency Act 1986 as if rule 1.32(1) included a reference to such proceedings—</p><blockList class="unordered none" ukl:Name="UnorderedList" ukl:Decoration="none"><item><p>rule 1.32(2) to (3) (delivery to registrar of companies);</p></item><item><p>rule 1.36 (delivery of documents to authorised recipients);</p></item><item><p>rule 1.37 (delivery of documents to joint office-holders);</p></item><item><p>rule 1.38 (postal delivery of documents);</p></item><item><p>rule 1.39 (delivery by document exchange);</p></item><item><p>rule 1.40 (personal delivery of documents);</p></item><item><p>rule 1.41 (electronic delivery of documents).</p></item></blockList></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-4-paragraph-89" class="schProv1"><num>89</num><content><p>In this Part of this Schedule “the Scottish Insolvency Rules” means the Insolvency (Scotland) (Company Voluntary Arrangements and Administration) Rules 2018 (<ref eId="c00074" href="http://www.legislation.gov.uk/id/uksi/2018/1082">S.I. 2018/1082</ref>).</p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-8-paragraph-39" class="schProv1"><num>39</num><intro><p>For the purposes of deciding whether to bring a moratorium to an end under Article <ref href="#d25e8629">13ED</ref>(1)(d) of the Insolvency (Northern Ireland) Order 1989 the monitor must disregard—</p></intro><level class="para1" eId="schedule-8-paragraph-39-a"><num>(a)</num><content><p>any debts that the monitor has reasonable grounds for thinking are likely to be paid within 5 days of the decision, and</p></content></level><level class="para1" eId="schedule-8-paragraph-39-b"><num>(b)</num><content><p>any debts in respect of which the creditor has agreed to defer payment until a time that is later than the decision.</p></content></level></paragraph>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="schedule-8-paragraph-39-a"><num>(a)</num><content><p>any debts that the monitor has reasonable grounds for thinking are likely to be paid within 5 days of the decision, and</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="schedule-8-paragraph-39-b"><num>(b)</num><content><p>any debts in respect of which the creditor has agreed to defer payment until a time that is later than the decision.</p></content></level>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-8-paragraph-42" class="schProv1"><num>42</num><subparagraph eId="schedule-8-paragraph-42-1"><num>(1)</num><content><p>An administrator or liquidator of a company may apply to the High Court on the ground that remuneration charged by the monitor in relation to a prior moratorium for the company under Part 1A of the Insolvency (Northern Ireland) Order 1989 was excessive.</p></content></subparagraph><subparagraph eId="schedule-8-paragraph-42-2"><num>(2)</num><content><p>An application under this paragraph may not be made after the end of the period of 2 years beginning with the day after the moratorium ends.</p></content></subparagraph><subparagraph eId="schedule-8-paragraph-42-3"><num>(3)</num><intro><p>On an application under this paragraph the Court may—</p></intro><level class="para1" eId="schedule-8-paragraph-42-3-a"><num>(a)</num><content><p>dismiss the application,</p></content></level><level class="para1" eId="schedule-8-paragraph-42-3-b"><num>(b)</num><content><p>order the monitor to repay some or all of the remuneration, or</p></content></level><level class="para1" eId="schedule-8-paragraph-42-3-c"><num>(c)</num><content><p>make such other order as it thinks fit.</p></content></level></subparagraph><subparagraph eId="schedule-8-paragraph-42-4"><num>(4)</num><content><p>The costs of an application under this paragraph are, unless the Court orders otherwise, to be paid as an expense of the administration or liquidation.</p></content></subparagraph></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-8-paragraph-45" class="schProv1"><num>45</num><subparagraph eId="schedule-8-paragraph-45-1"><num>(1)</num><intro><p>Where paragraph 65A(1) of Schedule B1 to the Insolvency (Northern Ireland) Order 1989 applies, the moratorium debts and pre-moratorium debts mentioned in paragraph 65A(2) of that Schedule are payable in the following order of priority—</p></intro><level class="para1" eId="schedule-8-paragraph-45-1-a"><num>(a)</num><content><p>amounts payable in respect of goods or services supplied during the moratorium under a contract where, but for Article 197B(3) or (4) of that Order, the supplier would not have had to make that supply;</p></content></level><level class="para1" eId="schedule-8-paragraph-45-1-b"><num>(b)</num><content><p>wages or salary arising under a contract of employment;</p></content></level><level class="para1" eId="schedule-8-paragraph-45-1-c"><num>(c)</num><content><p>other debts or other liabilities apart from the monitor’s remuneration or expenses;</p></content></level><level class="para1" eId="schedule-8-paragraph-45-1-d"><num>(d)</num><content><p>the monitor’s remuneration or expenses.</p></content></level></subparagraph><subparagraph eId="schedule-8-paragraph-45-2"><num>(2)</num><content><p>In this paragraph “wages or salary” has the same meaning as in Article <ref href="#d25e7009">13D</ref> of the Insolvency (Northern Ireland) Order 1989.</p></content></subparagraph></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" eId="schedule-8-paragraph-50" class="schProv1"><num>50</num><subparagraph eId="schedule-8-paragraph-50-1"><num>(1)</num><intro><p>For the purposes of proceedings under Part 1A of the Insolvency (Northern Ireland) Order 1989 and proceedings under this Part of this Schedule the Insolvency Rules have effect with—</p></intro><level class="para1" eId="schedule-8-paragraph-50-1-a"><num>(a)</num><content><p>the modifications set out in sub-paragraphs <ref href="#schedule-8-paragraph-50-3">(3)</ref> to <ref href="#schedule-8-paragraph-50-13">(13)</ref>, and</p></content></level><level class="para1" eId="schedule-8-paragraph-50-1-b"><num>(b)</num><content><p>any other necessary modifications.</p></content></level></subparagraph><subparagraph eId="schedule-8-paragraph-50-2"><num>(2)</num><intro><p>Sub-paragraph (1)(b) is subject to—</p></intro><level class="para1" eId="schedule-8-paragraph-50-2-a"><num>(a)</num><content><p>paragraphs 23 to 30 and 46 of this Schedule;</p></content></level><level class="para1" eId="schedule-8-paragraph-50-2-b"><num>(b)</num><content><p>any modifications set out in an order under paragraph 43 of this Schedule.</p></content></level></subparagraph><subparagraph eId="schedule-8-paragraph-50-3"><num>(3)</num><content><p>Rule 0.2 has effect as if, in the definition of “insolvency proceedings”, after “the Order” there were inserted “, Part 3 of Schedule 8 to the Corporate Insolvency and Governance Act 2020”.</p></content></subparagraph><subparagraph eId="schedule-8-paragraph-50-4"><num>(4)</num><content><p>Rule 7.01 has effect as if for “Parts II to VII of the Order” there were substituted “Part 1A of the Order or Part 3 of Schedule 8 to the Corporate Insolvency and Governance Act 2020”.</p></content></subparagraph><subparagraph eId="schedule-8-paragraph-50-5"><num>(5)</num><content><p>Rule 7.07(1)(a) has effect as if after “the Order” there were inserted “or Part 3 of Schedule 8 to the Corporate Insolvency and Governance Act 2020”.</p></content></subparagraph><subparagraph eId="schedule-8-paragraph-50-6"><num>(6)</num><content><p>Rule 7.08 has effect in relation to a regulated company (within the meaning of Article 13H of the Insolvency (Northern Ireland) Order 1989) as if it also required the application to be served on the appropriate regulator (within the meaning of that Article).</p></content></subparagraph><subparagraph eId="schedule-8-paragraph-50-7"><num>(7)</num><content><p><mod>Rule 7.12(1)(b) has effect as if after sub-paragraph (v) there were inserted—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="rule" ukl:Context="main" ukl:Format="double"><level class="para1"><num>(vi)</num><content><p>a monitor in relation to a moratorium.</p></content></level></quotedStructure></mod></p></content></subparagraph><subparagraph eId="schedule-8-paragraph-50-8"><num>(8)</num><intro><p>Rule 7.13B has effect as if—</p></intro><level class="para1" eId="schedule-8-paragraph-50-8-a"><num>(a)</num><content><p>the references to an office-holder included a monitor in relation to a moratorium, and</p></content></level><level class="para1" eId="schedule-8-paragraph-50-8-b"><num>(b)</num><content><p><mod>after paragraph (2)(d) there were inserted “, or<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="rule" ukl:Context="main" ukl:Format="double"><level class="para1"><num>(e)</num><content><p>monitor in relation to a moratorium.</p></content></level></quotedStructure></mod></p></content></level></subparagraph><subparagraph eId="schedule-8-paragraph-50-9"><num>(9)</num><content><p><mod>Rule 7.13C has effect as if after each of paragraph (2)(f) and (3)(f) there were inserted <quotedText startQuote="“">; and</quotedText><quotedStructure endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="rule" ukl:Context="main" ukl:Format="double"><level class="para1"><num>(g)</num><content><p>Article 13EE (replacement of monitor or appointment of additional monitor).</p></content></level></quotedStructure></mod></p></content></subparagraph><subparagraph eId="schedule-8-paragraph-50-10"><num>(10)</num><content><p>Rule 7.36(2) has effect as if it required the applicant to serve a sealed copy of the application on the monitor and the company to which the moratorium relates.</p></content></subparagraph><subparagraph eId="schedule-8-paragraph-50-11"><num>(11)</num><content><p>Omit Rules 7.07A and 7.08A.</p></content></subparagraph><subparagraph eId="schedule-8-paragraph-50-12"><num>(12)</num><content><p>Rule 7.27 has effect as if paragraph (2)(a) included a reference to proceedings under Part 1A of the Insolvency (Northern Ireland) Order 1989 or this Part of this Schedule.</p></content></subparagraph><subparagraph eId="schedule-8-paragraph-50-13"><num>(13)</num><content><p><mod>After Rule 12.23 insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="rule" ukl:Context="main" ukl:Format="double"><rule><heading>Court orders</heading><num>12.24.</num><content><p>Notwithstanding any requirement in these Rules as to the contents of a court order the court may make such other order or in such form as the court thinks fit.</p></content></rule></quotedStructure></mod></p></content></subparagraph></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-8-paragraph-53" class="schProv1"><num>53</num><content><p>In this Part of this Schedule “the Insolvency Rules” means the <ref eId="c00098" href="http://www.legislation.gov.uk/id/nisr/1991/364">Insolvency Rules (Northern Ireland) 1991 (S.R. (N.I.) 1991/364)</ref>.</p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-10-paragraph-3" class="schProv1"><num>3</num><subparagraph eId="schedule-10-paragraph-3-1"><num>(1)</num><content><p>A creditor may not during the relevant period present a petition under section 124 of the 1986 Act for the winding up of an unregistered company on a ground specified in section 222, 223 or 224(1)(a) to (c) of that Act (“the relevant ground”), unless the condition in sub-paragraph <ref href="#schedule-10-paragraph-3-2">(2)</ref> is met.</p></content></subparagraph><subparagraph eId="schedule-10-paragraph-3-2"><num>(2)</num><intro><p>The condition referred to in sub-paragraph <ref href="#schedule-10-paragraph-3-1">(1)</ref> is that the creditor has reasonable grounds for believing that—</p></intro><level class="para1" eId="schedule-10-paragraph-3-2-a"><num>(a)</num><content><p>coronavirus has not had a financial effect on the company, or</p></content></level><level class="para1" eId="schedule-10-paragraph-3-2-b"><num>(b)</num><content><p>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.</p></content></level></subparagraph><subparagraph eId="schedule-10-paragraph-3-3"><num>(3)</num><content><p>A creditor may not during the relevant period present a petition under section 124 of the 1986 Act for the winding up of an unregistered company on the ground specified in section 224(1)(d) or (2) of that Act (“the relevant ground”), unless the condition in sub-paragraph <ref href="#schedule-10-paragraph-3-4">(4)</ref> is met.</p></content></subparagraph><subparagraph eId="schedule-10-paragraph-3-4"><num>(4)</num><intro><p>The condition referred to in sub-paragraph <ref href="#schedule-10-paragraph-3-3">(3)</ref> is that the creditor has reasonable grounds for believing that—</p></intro><level class="para1" eId="schedule-10-paragraph-3-4-a"><num>(a)</num><content><p>coronavirus has not had a financial effect on the company, or</p></content></level><level class="para1" eId="schedule-10-paragraph-3-4-b"><num>(b)</num><content><p>the relevant ground would apply even if coronavirus had not had a financial effect on the company.</p></content></level></subparagraph><subparagraph eId="schedule-10-paragraph-3-5"><num>(5)</num><content><p>This paragraph is to be regarded as having come into force on 27 April 2020.</p></content></subparagraph></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-10-paragraph-6" class="schProv1"><num>6</num><subparagraph eId="schedule-10-paragraph-6-1"><num>(1)</num><intro><p>This paragraph applies where—</p></intro><level class="para1" eId="schedule-10-paragraph-6-1-a"><num>(a)</num><content><p>a creditor presents a petition for the winding up of an unregistered company under section 124 of the 1986 Act in the relevant period,</p></content></level><level class="para1" eId="schedule-10-paragraph-6-1-b"><num>(b)</num><content><p>the company is deemed unable to pay its debts on a ground specified in section 222, 223 or 224 of that Act, and</p></content></level><level class="para1" eId="schedule-10-paragraph-6-1-c"><num>(c)</num><content><p>it appears to the court that coronavirus had a financial effect on the company before the presentation of the petition.</p></content></level></subparagraph><subparagraph eId="schedule-10-paragraph-6-2"><num>(2)</num><content><p>The court may wind the company up under section 221(5)(b) of the 1986 Act on a ground specified in section 222, 223 or 224(1)(a) to (c) of that Act only if the court is satisfied that the facts by reference to which that ground applies would have arisen even if coronavirus had not had a financial effect on the company.</p></content></subparagraph><subparagraph eId="schedule-10-paragraph-6-3"><num>(3)</num><content><p>The court may wind the company up under section 221(5)(b) of the 1986 Act on the ground specified in section 224(1)(d) or (2) of that Act only if the court is satisfied that the ground would apply even if coronavirus had not had a financial effect on the company.</p></content></subparagraph><subparagraph eId="schedule-10-paragraph-6-4"><num>(4)</num><content><p>This paragraph is to be regarded as having come into force on 27 April 2020.</p></content></subparagraph></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" xmlns:default="http://www.w3.org/1999/xhtml" xmlns:fo="http://www.w3.org/1999/XSL/Format" eId="schedule-4-paragraph-24" class="schProv1"><num>24</num><content><p><mod>Rule 15.11 of the England and Wales Insolvency Rules (notice of decision procedures etc) has effect as if, before the first entry in the table, there were inserted—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="rule" ukl:Context="main" ukl:Format="double"><tblock class="table" ukl:Orientation="portrait"><foreign><default:table xmlns="http://www.w3.org/1999/xhtml"><default:col span="1" style="width:25%"/><default:col span="1" style="width:25%"/><default:col span="1" style="width:25%"/><default:col span="1" style="width:25%"/><default:tbody><default:tr><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">moratorium</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">decision of pre-moratorium creditors under section <ref href="#d25e1007">A12</ref> of the Act</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">the pre-moratorium creditors</p></default:td><default:td xmlns:fo="http://www.w3.org/1999/XSL/Format" fo:border-left-style="solid" fo:border-left-width="0.5pt" fo:border-left-color="black"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">5 days</p></default:td></default:tr></default:tbody></default:table></foreign></tblock></quotedStructure><inline name="appendText">.</inline></mod></p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" eId="schedule-4-paragraph-25" class="schProv1"><num>25</num><content><p><mod>Rule 15.28 of the England and Wales Insolvency Rules (creditors’ voting rights) has effect as if, before paragraph (1), there were inserted—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="rule" ukl:Context="main" ukl:Format="double"><paragraph><num>A1</num><intro><p>A pre-moratorium creditor is entitled to vote in a decision procedure under section <ref href="#d25e1007">A12</ref> of the Act only if—</p></intro><level class="para1"><num>(a)</num><content><p>the creditor has delivered to the convener a proof of the debt claimed in accordance with paragraph (3) including any calculation for the purposes of rule 15.31 or 15.32, and</p></content></level><level class="para1"><num>(b)</num><intro><p>the proof was received by the convener—</p></intro><level class="para2"><num>(i)</num><content><p>not later than the decision date, or in the case of a meeting, 4pm on the business day before the meeting, or</p></content></level><level class="para2"><num>(ii)</num><content><p>in the case of a meeting, later than the time given in sub-paragraph (i) where the chair is content to accept the proof, and</p></content></level></level><level class="para1"><num>(c)</num><content><p>the proof has been admitted for the purposes of entitlement to vote.</p></content></level></paragraph></quotedStructure></mod></p></content></paragraph>
<hcontainer xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" name="crossheading" class="schGroup7"><heading>Notice that directors wish to obtain a moratorium</heading><paragraph eId="schedule-4-paragraph-16" class="schProv1"><num>16</num><intro><p>A notice under section <ref href="#d25e433">A6</ref><ref href="#d25e443">(1)(a)</ref> of the Insolvency Act 1986 must state—</p></intro><level class="para1" eId="schedule-4-paragraph-16-a"><num>(a)</num><content><p>the company’s address for service, and</p></content></level><level class="para1" eId="schedule-4-paragraph-16-b"><num>(b)</num><content><p>the court (and where applicable, the division or district registry of that court) or hearing centre in which the documents are to be filed under section <ref href="#d25e268">A3</ref> or the application under section <ref href="#d25e320">A4</ref> or <ref href="#d25e375">A5</ref> is to be made.</p></content></level></paragraph></hcontainer>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-3-paragraph-1" class="schProv1"><num>1</num><content><p>The Insolvency Act 1986 is amended as follows.</p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-3-paragraph-36" class="schProv1"><num>36</num><content><p><mod>In section 14 of the Limited Liability Partnerships Act 2000 (regulations to make provision about insolvency and winding up), in subsection (1)(a), for “Parts 1” substitute <quotedText>“
Parts A1
”</quotedText>.</mod></p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-3-paragraph-40" class="schProv1"><num>40</num><content><p>In regulation 8 of the Financial Collateral Arrangements (No.2) Regulations 2003 (<ref eId="c00066" href="http://www.legislation.gov.uk/id/uksi/2003/3226">S.I. 2003/3226</ref>) (certain legislation restricting enforcement of security not to apply to financial collateral arrangements), omit paragraph (5).</p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-3-paragraph-43" class="schProv1"><num>43</num><content><p>The Charities Act 2011 is amended as follows.</p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-4-paragraph-2" class="schProv1"><num>2</num><subparagraph eId="schedule-4-paragraph-2-1"><num>(1)</num><content><p>The Secretary of State may by regulations made by statutory instrument provide for any provision made by Part 2 of this Schedule to cease to have effect before the end of the relevant period.</p></content></subparagraph><subparagraph eId="schedule-4-paragraph-2-2"><num>(2)</num><content><p>The regulations may include transitional provision or savings.</p></content></subparagraph><subparagraph eId="schedule-4-paragraph-2-3"><num>(3)</num><content><p>A statutory instrument containing regulations under sub-paragraph <ref href="#schedule-4-paragraph-2-1">(1)</ref> is subject to annulment in pursuance of a resolution of either House of Parliament.</p></content></subparagraph></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-4-paragraph-6" class="schProv1"><num>6</num><subparagraph eId="schedule-4-paragraph-6-1"><num>(1)</num><intro><p>For the purposes of obtaining a moratorium under section <ref href="#d25e268">A3</ref> of the Insolvency Act 1986 during the relevant period—</p></intro><level class="para1" eId="schedule-4-paragraph-6-1-a"><num>(a)</num><content><p>section <ref href="#d25e268">A3</ref> of that Act has effect as if subsection <ref href="#d25e278">(1)(a)</ref> were omitted;</p></content></level><level class="para1" eId="schedule-4-paragraph-6-1-b"><num>(b)</num><content><p>section <ref href="#d25e433">A6</ref><ref href="#d25e479">(1)(e)</ref> 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”;</p></content></level><level class="para1" eId="schedule-4-paragraph-6-1-c"><num>(c)</num><content><p>Schedule ZA1 to that Act has effect as if paragraph <ref href="#d25e15499">2(1)(b)</ref> and <ref href="#d25e15522">(2)(b)</ref> were omitted.</p></content></level></subparagraph><subparagraph eId="schedule-4-paragraph-6-2"><num>(2)</num><content><p>During the relevant period, only an overseas company may obtain a moratorium under section <ref href="#d25e320">A4</ref> of the Insolvency Act 1986.</p></content></subparagraph></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" eId="schedule-4-paragraph-10" class="schProv1"><num>10</num><content><p><mod>In relation to a moratorium that comes into force during the relevant period, section <ref href="#d25e3388">A38</ref>(1) of the Insolvency Act 1986 has effect as if for paragraph (a) there were substituted—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="double"><level class="para1"><num>(a)</num><intro><p>the monitor thinks—</p></intro><level class="para2"><num>(i)</num><content><p>that the moratorium is not likely to result in the rescue of the company as a going concern, and</p></content></level><level class="para2"><num>(ii)</num><content><p>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,</p></content></level></level></quotedStructure><inline name="appendText">.</inline></mod></p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" eId="schedule-4-paragraph-13" class="schProv1"><num>13</num><content><p><mod>Section <ref href="#d25e5168">A54</ref><ref href="#d25e5172">(1)</ref> of the Insolvency Act 1986 has effect as if for the definition of “the court” there were substituted—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="double"><hcontainer name="definition"><content><p>“the court”, in relation to a company, means a court having jurisdiction to wind up the company;</p></content></hcontainer></quotedStructure><inline name="appendText">.</inline></mod></p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-4-paragraph-16" class="schProv1"><num>16</num><intro><p>A notice under section <ref href="#d25e433">A6</ref><ref href="#d25e443">(1)(a)</ref> of the Insolvency Act 1986 must state—</p></intro><level class="para1" eId="schedule-4-paragraph-16-a"><num>(a)</num><content><p>the company’s address for service, and</p></content></level><level class="para1" eId="schedule-4-paragraph-16-b"><num>(b)</num><content><p>the court (and where applicable, the division or district registry of that court) or hearing centre in which the documents are to be filed under section <ref href="#d25e268">A3</ref> or the application under section <ref href="#d25e320">A4</ref> or <ref href="#d25e375">A5</ref> is to be made.</p></content></level></paragraph>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="schedule-4-paragraph-16-a"><num>(a)</num><content><p>the company’s address for service, and</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="schedule-4-paragraph-16-b"><num>(b)</num><content><p>the court (and where applicable, the division or district registry of that court) or hearing centre in which the documents are to be filed under section <ref href="#d25e268">A3</ref> or the application under section <ref href="#d25e320">A4</ref> or <ref href="#d25e375">A5</ref> is to be made.</p></content></level>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-4-paragraph-19" class="schProv1"><num>19</num><intro><p>A notice under section <ref href="#d25e618">A8</ref><ref href="#d25e628">(2)</ref> of the Insolvency Act 1986 must—</p></intro><level class="para1" eId="schedule-4-paragraph-19-a"><num>(a)</num><content><p>state that it is given by the monitor acting in that capacity, and</p></content></level><level class="para1" eId="schedule-4-paragraph-19-b"><num>(b)</num><content><p>state the name and contact details of the monitor.</p></content></level></paragraph>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="schedule-4-paragraph-19-a"><num>(a)</num><content><p>state that it is given by the monitor acting in that capacity, and</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="schedule-4-paragraph-19-b"><num>(b)</num><content><p>state the name and contact details of the monitor.</p></content></level>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-4-paragraph-22" class="schProv1"><num>22</num><content><p>Each statement under section <ref href="#d25e841">A10</ref><ref href="#d25e857">(1)(b)</ref> to <ref href="#d25e884">(d)</ref> or <ref href="#d25e920">A11</ref><ref href="#d25e936">(1)(b)</ref> to <ref href="#d25e969">(e)</ref> of the Insolvency Act 1986 must be made within the period of 3 days ending with the day on which the documents under section <ref href="#d25e841">A10</ref><ref href="#d25e851">(1)(a)</ref> to <ref href="#d25e884">(d)</ref> or <ref href="#d25e920">A11</ref><ref href="#d25e930">(1)(a)</ref> to <ref href="#d25e969">(e)</ref> are filed with the court (or, if the documents are filed on different days, the last of those days).</p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-7-paragraph-30" class="schProv1"><num>30</num><content><p>In Schedule 15A to the Building Societies Act 1986 (application of other companies insolvency legislation to building societies), in paragraph 1(2)(b), omit “(except Article 14A)”.</p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" eId="schedule-7-paragraph-33" class="schProv1"><num>33</num><content><p><mod>In regulation 2 of the <ref eId="c00094" href="http://www.legislation.gov.uk/id/nisr/2006/33">Insolvency Practitioners Regulations (Northern Ireland) 2006 (S.R. (N. I.) 2006/33)</ref> (interpretation: general), in paragraph (2), before sub-paragraph (a) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="regulation" ukl:Context="main" ukl:Format="double"><level class="para1"><num>(za)</num><intro><p>where the insolvency practitioner acts as the monitor in relation to a moratorium under Part 1A of the Order, whichever is the earlier of the date on which—</p></intro><level class="para2"><num>(i)</num><content><p>the moratorium comes to an end, or</p></content></level><level class="para2"><num>(ii)</num><content><p>the insolvency practitioner otherwise ceases to act as the monitor in relation to the moratorium;</p></content></level></level></quotedStructure><inline name="appendText">.</inline></mod></p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-8-paragraph-3" class="schProv1"><num>3</num><content><p>Rules under Article 359 of the Insolvency (Northern Ireland) Order 1989 may provide for any provision made by paragraphs <ref href="#schedule-8-paragraph-13">13</ref> to <ref href="#schedule-8-paragraph-54">54</ref> to cease to have effect before the end of the relevant period.</p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-3-paragraph-2" class="schProv1"><num>2</num><content><p>Omit section 1A (moratorium where directors propose voluntary arrangement).</p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-3-paragraph-37" class="schProv1"><num>37</num><content><p>The provision that may be made under section 16(1) of the Limited Liability Partnerships Act 2000 (consequential amendments) includes provision in consequence of the amendment made by paragraph 38.</p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" eId="schedule-3-paragraph-44" class="schProv1"><num>44</num><subparagraph eId="schedule-3-paragraph-44-1"><num>(1)</num><content><p>Section 245 is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-3-paragraph-44-2"><num>(2)</num><content><p><mod>After subsection (1), insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="double"><subsection><num>(1A)</num><content><p>Regulations under subsection (1)(b) may not apply Part A1 of the Insolvency Act 1986 (moratorium) in relation to a CIO that is registered as a social landlord under Part 1 of the Housing Act 1996 (but see section 247A).</p></content></subsection></quotedStructure></mod></p></content></subparagraph><subparagraph eId="schedule-3-paragraph-44-3"><num>(3)</num><content><p><mod>After subsection (3), insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="double"><subsection><num>(3A)</num><content><p>In relation to a CIO that is a private registered provider of social housing, the power under section 347(3)(b) may be used to amend, disapply, or modify (in ways specified in the regulations) any provision made by or under Part 2 of the Housing and Regeneration Act 2008 or Chapter 5 of Part 4 of the Housing and Planning Act 2016.</p></content></subsection></quotedStructure></mod></p></content></subparagraph></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-4-paragraph-7" class="schProv1"><num>7</num><intro><p>In relation to an application for a moratorium made under section <ref href="#d25e320">A4</ref> or <ref href="#d25e375">A5</ref> of the Insolvency Act 1986 during the relevant period—</p></intro><level class="para1" eId="schedule-4-paragraph-7-a"><num>(a)</num><content><p>section <ref href="#d25e433">A6</ref><ref href="#d25e479">(1)(e)</ref> 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”;</p></content></level><level class="para1" eId="schedule-4-paragraph-7-b"><num>(b)</num><content><p>Schedule ZA1 to that Act has effect as if paragraph <ref href="#d25e15499">2(1)(b)</ref> and <ref href="#d25e15522">(2)(b)</ref> were omitted.</p></content></level></paragraph>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="schedule-4-paragraph-7-a"><num>(a)</num><content><p>section <ref href="#d25e433">A6</ref><ref href="#d25e479">(1)(e)</ref> 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”;</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="schedule-4-paragraph-7-b"><num>(b)</num><content><p>Schedule ZA1 to that Act has effect as if paragraph <ref href="#d25e15499">2(1)(b)</ref> and <ref href="#d25e15522">(2)(b)</ref> were omitted.</p></content></level>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-8-paragraph-4" class="schProv1"><num>4</num><content><p>Rules under Article 359 of the Insolvency (Northern Ireland) Order 1989 may make transitional provision or savings in connection with any provision made by paragraphs <ref href="#schedule-8-paragraph-13">13</ref> to <ref href="#schedule-8-paragraph-54">54</ref> ceasing to have effect (whether by virtue of paragraph <ref href="#schedule-8-paragraph-3">3</ref> or <ref href="#schedule-8-paragraph-12">12</ref>).</p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-3-paragraph-3" class="schProv1"><num>3</num><content><p>In section 2 (procedure where nominee is not the liquidator or administrator), in subsection (1), omit from “and the directors” to the end.</p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" eId="schedule-3-paragraph-45" class="schProv1"><num>45</num><content><p><mod>After section 247 insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="double"><section><num>247A</num><heading>Regulations about moratorium for certain CIOs</heading><subsection><num>(1)</num><content><p>The Welsh Ministers may by regulations made by statutory instrument provide for Part A1 of the Insolvency Act 1986 to apply (with such modifications as may be specified in the regulations) in relation to a CIO that is a registered social landlord.</p></content></subsection><subsection eId="d25e18832"><num>(2)</num><content><p>The regulations may make provision in connection with the interaction between Part A1 of the Insolvency Act 1986 as applied by the regulations and any other insolvency procedure in relation to a CIO that is a registered social landlord.</p></content></subsection><subsection><num>(3)</num><intro><p>The regulations may make—</p></intro><level class="para1"><num>(a)</num><content><p>different provision for different purposes, and</p></content></level><level class="para1" eId="d25e18850"><num>(b)</num><content><p>such supplemental, incidental, consequential, transitory or transitional provision or savings as the Welsh Ministers consider appropriate.</p></content></level></subsection><subsection><num>(4)</num><content><p>The power to make regulations under this section includes power to amend, disapply, or modify (in ways specified in the regulations) any provision made by legislation.</p></content></subsection><subsection><num>(5)</num><content><p>A statutory instrument containing the regulations may not be made unless a draft of the statutory instrument containing them has been laid before and approved by a resolution of Senedd Cymru.</p></content></subsection><subsection><num>(6)</num><content><p>Before making any regulations under this section the Welsh Ministers must consult such persons or bodies of persons as the Welsh Ministers consider appropriate.</p></content></subsection><subsection><num>(7)</num><intro><p>In this section—</p></intro><hcontainer name="definition"><content><p>“insolvency procedure” includes the provision made by sections 39 to 50 of the Housing Act 1996;</p></content></hcontainer><hcontainer name="definition"><intro><p>“legislation” means—</p></intro><level class="para1"><num>(a)</num><content><p>an Act of Parliament or an Act or Measure of Senedd Cymru; or</p></content></level><level class="para1"><num>(b)</num><content><p>subordinate legislation (within the meaning of the Interpretation Act 1978) made under such an Act or Measure;</p></content></level></hcontainer><hcontainer name="definition"><content><p>“registered social landlord” means registered as a social landlord under Part 1 of the Housing Act 1996.</p></content></hcontainer></subsection></section></quotedStructure></mod></p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" eId="schedule-3-paragraph-4" class="schProv1"><num>4</num><subparagraph eId="schedule-3-paragraph-4-1"><num>(1)</num><content><p>Section 4 (decision of the company and its creditors in relation to voluntary arrangement) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-3-paragraph-4-2"><num>(2)</num><content><p><mod>After subsection (4) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="default"><subsection><num>(4A)</num><intro><p>Subject to subsection (4B), where the nominee's report under section 2(2) is submitted to the court before the end of the period of 12 weeks beginning with the day after the end of any moratorium for the company under Part A1, neither the company nor its creditors may approve any proposal or modification under which the following are to be paid otherwise than in full—</p></intro><level class="para1"><num>(a)</num><content><p>moratorium debts (within the meaning given by section 174A);</p></content></level><level class="para1"><num>(b)</num><content><p>priority pre-moratorium debts (within the meaning given by section 174A).</p></content></level></subsection><subsection><num>(4B)</num><content><p>Subsection (4A) does not prevent the approval of such a proposal or modification with the concurrence of the creditor concerned.</p></content></subsection></quotedStructure></mod></p></content></subparagraph></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-3-paragraph-5" class="schProv1"><num>5</num><subparagraph eId="schedule-3-paragraph-5-1"><num>(1)</num><content><p>Section 4A (approval of voluntary arrangement) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-3-paragraph-5-2"><num>(2)</num><content><p><mod>In subsection (2)(b), for “(4)” substitute <quotedText>“
(6)
”</quotedText>.</mod></p></content></subparagraph><subparagraph eId="schedule-3-paragraph-5-3"><num>(3)</num><content><p><mod>In subsection (5), for “within the meaning given by paragraph 44 of Schedule A1” substitute <quotedText>“
as defined by section A49(13)
”</quotedText>.</mod></p></content></subparagraph><subparagraph eId="schedule-3-paragraph-5-4"><num>(4)</num><content><p><mod>In subsection (5A), for “within the meaning of paragraph 44 of Schedule A1” substitute <quotedText>“
as defined by section A49(13)
”</quotedText>.</mod></p></content></subparagraph></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" eId="schedule-3-paragraph-6" class="schProv1"><num>6</num><subparagraph eId="schedule-3-paragraph-6-1"><num>(1)</num><content><p>Section 5 (effect of approval of voluntary arrangement) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-3-paragraph-6-2"><num>(2)</num><content><p><mod>After subsection (3) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="default"><subsection><num>(3A)</num><content><p>Where immediately before the voluntary arrangement took effect a moratorium for the company was in force under Part A1 and a petition for the winding up of the company, other than an excepted petition within the meaning of section A20, was presented before the beginning of the moratorium, the court must dismiss the petition.</p></content></subsection></quotedStructure></mod></p></content></subparagraph><subparagraph eId="schedule-3-paragraph-6-3"><num>(3)</num><content><p><mod>In subsection (4) after “subsection (3)(a)” insert <quotedText>“
or dismiss a petition under subsection (3A)
”</quotedText>.</mod></p></content></subparagraph></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" eId="schedule-3-paragraph-7" class="schProv1"><num>7</num><subparagraph eId="schedule-3-paragraph-7-1"><num>(1)</num><content><p>Section 7A (prosecution of delinquent officers of company) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-3-paragraph-7-2"><num>(2)</num><content><p><mod>For subsection (1) substitute—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="default"><subsection><num>(1)</num><content><p>This section applies where the approval of a voluntary arrangement in relation to a company has taken effect under section 4A.</p></content></subsection></quotedStructure></mod></p></content></subparagraph><subparagraph eId="schedule-3-paragraph-7-3"><num>(3)</num><intro><p>In subsection (2)—</p></intro><level class="para1" eId="schedule-3-paragraph-7-3-a"><num>(a)</num><content><p><mod>for the words before paragraph (a) substitute <quotedText>“
If it appears to the supervisor that any past or present officer of the company has committed an offence in connection with the voluntary arrangement, the supervisor must forthwith
”</quotedText>;</mod></p></content></level><level class="para1" eId="schedule-3-paragraph-7-3-b"><num>(b)</num><content><p>in paragraph (b), omit “nominee or”.</p></content></level></subparagraph><subparagraph eId="schedule-3-paragraph-7-4"><num>(4)</num><content><p>In subsection (8), omit “nominee or”.</p></content></subparagraph></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-3-paragraph-8" class="schProv1"><num>8</num><intro><p>In section 7B (arrangements coming to an end prematurely) omit—</p></intro><level class="para1" eId="schedule-3-paragraph-8-a"><num>(a)</num><content><p>“or paragraph 36 of Schedule A1”;</p></content></level><level class="para1" eId="schedule-3-paragraph-8-b"><num>(b)</num><content><p>“or, as the case may be, paragraph 37(2)(b)(i) of Schedule A1”.</p></content></level></paragraph>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="schedule-3-paragraph-8-a"><num>(a)</num><content><p>“or paragraph 36 of Schedule A1”;</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="schedule-3-paragraph-8-b"><num>(b)</num><content><p>“or, as the case may be, paragraph 37(2)(b)(i) of Schedule A1”.</p></content></level>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-3-paragraph-9" class="schProv1"><num>9</num><content><p><mod>In section 115 (expenses of voluntary winding up), at the beginning insert <quotedText>“
After the payment of any liabilities to which section 174A applies,
”</quotedText>.</mod></p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-3-paragraph-10" class="schProv1"><num>10</num><content><p>In section 122 (circumstances in which company may be wound up by the court), in subsection (1), omit paragraph (fa).</p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-3-paragraph-11" class="schProv1"><num>11</num><content><p>In section 124 (winding up by the court), omit subsection (3A).</p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" eId="schedule-3-paragraph-12" class="schProv1"><num>12</num><content><p><mod>In section 127 (avoidance of property dispositions etc), after subsection (2) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="default"><subsection><num>(3)</num><content><p>This section has no effect in respect of anything done during a moratorium under Part A1, or during a period mentioned in section 5(4)(a) following the end of a moratorium, where the winding-up order was made on a petition presented before the moratorium begins, unless the petition was presented under section 367 of the Financial Services and Markets Act 2000 on the ground mentioned in section 367(3)(b) of that Act.</p></content></subsection></quotedStructure></mod></p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" eId="schedule-3-paragraph-13" class="schProv1"><num>13</num><content><p><mod>Before section 175 (and before the italic heading “Preferential debts” above that section) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="unknown" uk:docName="unknown" ukl:TargetClass="unknown" ukl:TargetSubClass="unknown" ukl:Context="unknown" ukl:Format="default"><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Moratorium: order of priority of payment of debts</i></heading><section><num>174A</num><heading>Moratorium debts etc: priority</heading><subsection><num>(1)</num><content><p>This section applies where proceedings for the winding up of a company are begun before the end of the period of 12 weeks beginning with the day after the end of any moratorium for the company under Part A1.</p></content></subsection><subsection><num>(2)</num><intro><p>In the winding up, the following are payable out of the company's assets (in the order of priority shown) in preference to all other claims—</p></intro><level class="para1"><num>(a)</num><content><p>any prescribed fees or expenses of the official receiver acting in any capacity in relation to the company;</p></content></level><level class="para1"><num>(b)</num><content><p>moratorium debts and priority pre-moratorium debts.</p></content></level></subsection><subsection><num>(3)</num><intro><p>In subsection (2)(b) “<term refersTo="#term-priority-pre-moratorium-debt">priority pre-moratorium debt</term>” means—</p></intro><level class="para1"><num>(a)</num><intro><p>any pre-moratorium debt that is payable in respect of—</p></intro><level class="para2"><num>(i)</num><content><p>the monitor's remuneration or expenses,</p></content></level><level class="para2"><num>(ii)</num><content><p>goods or services supplied during the moratorium,</p></content></level><level class="para2"><num>(iii)</num><content><p>rent in respect of a period during the moratorium, or</p></content></level><level class="para2"><num>(iv)</num><content><p>wages or salary arising under a contract of employment, so far as relating to a period of employment before or during the moratorium,</p></content></level></level><level class="para1"><num>(b)</num><intro><p>any pre-moratorium debt that—</p></intro><level class="para2"><num>(i)</num><content><p>consists of a liability to make a redundancy payment, and</p></content></level><level class="para2"><num>(ii)</num><content><p>fell due before or during the moratorium, and</p></content></level></level><level class="para1"><num>(c)</num><intro><p>any pre-moratorium debt that—</p></intro><level class="para2"><num>(i)</num><content><p>arises under a contract or other instrument involving financial services,</p></content></level><level class="para2"><num>(ii)</num><content><p>fell due before or during the moratorium, and</p></content></level><level class="para2"><num>(iii)</num><content><p>is not relevant accelerated debt (see subsection (4)).</p></content></level></level></subsection><subsection><num>(4)</num><intro><p>For the purposes of subsection (3)(c)—</p></intro><hcontainer name="definition"><content><p>“<term refersTo="#term-relevant-accelerated-debt">relevant accelerated debt</term>” means any pre-moratorium debt that fell due during the relevant period by reason of the operation of, or the exercise of rights under, an acceleration or early termination clause in a contract or other instrument involving financial services;</p></content></hcontainer><hcontainer name="definition"><intro><p>“<term refersTo="#term-the-relevant-period">the relevant period</term>” means the period—</p></intro><level class="para1"><num>(a)</num><content><p>beginning with the day on which the statement under section A6(1)(e) is made, and</p></content></level><level class="para1"><num>(b)</num><content><p>ending with the last day of the moratorium.</p></content></level></hcontainer></subsection><subsection><num>(5)</num><content><p>The rules may make provision as to the order in which the debts mentioned in subsection (2)(b) rank among themselves in a case where the assets of the company are insufficient to meet them in full.</p></content></subsection><subsection><num>(6)</num><content><p>The Secretary of State may by regulations made by statutory instrument amend this section for the purposes of changing the definition of “moratorium debt” or “priority pre-moratorium debt” in this section.</p></content></subsection><subsection><num>(7)</num><content><p>Regulations under subsection (6) may make consequential, supplementary, incidental or transitional provision or savings.</p></content></subsection><subsection><num>(8)</num><content><p>A statutory instrument containing regulations under subsection (6) may not be made unless a draft of the instrument has been laid before and approved by a resolution of each House of Parliament.</p></content></subsection><subsection><num>(9)</num><intro><p>For the purposes of this section proceedings for the winding up of a company are begun when—</p></intro><level class="para1"><num>(a)</num><content><p>a winding-up petition is presented, or</p></content></level><level class="para1"><num>(b)</num><content><p>a resolution for voluntary winding up is passed.</p></content></level></subsection><subsection><num>(10)</num><content><p>Any rules made under section A18(4) (meaning of supply of goods or services) apply also for the purposes of subsection (3)(a)(ii) of this section.</p></content></subsection><subsection><num>(11)</num><intro><p>In this section—</p></intro><hcontainer name="definition"><intro><p>“<term refersTo="#term-acceleration-or-early-termination-clause">acceleration or early termination clause</term>”, in relation to a contract or other instrument involving financial services, means a provision of the contract or other instrument—</p></intro><level class="para1"><num>(a)</num><content><p>under which, on the happening of an event—</p><blockList class="ordered roman parens" ukl:Name="OrderedList" ukl:Type="roman" ukl:Decoration="parens"><item><num>(i)</num><p>a debt or other liability falls due earlier than it otherwise would, or</p></item><item><num>(ii)</num><p>a debt or other liability is terminated and replaced by another debt or liability, or</p></item></blockList></content></level><level class="para1"><num>(b)</num><content><p>which confers on a party a right which, if exercised, will result in —</p><blockList class="ordered roman parens" ukl:Name="OrderedList" ukl:Type="roman" ukl:Decoration="parens"><item><num>(i)</num><p>a debt or other liability falling due earlier than it otherwise would, or</p></item><item><num>(ii)</num><p>a debt or other liability being terminated and replaced by another debt or liability;</p></item></blockList></content></level></hcontainer><hcontainer name="definition"><content><p>“<term refersTo="#term-contract-or-other-instrument-involving-financial-services">contract or other instrument involving financial services</term>” has the same meaning as it has for the purposes of section A18 (see Schedule ZA2);</p></content></hcontainer><hcontainer name="definition"><content><p>“<term refersTo="#term-monitor's-remuneration-or-expenses">monitor's remuneration or expenses</term>” has the meaning given by section A18;</p></content></hcontainer><hcontainer name="definition"><content><p>“<term refersTo="#term-moratorium-debt">moratorium debt</term>” has the meaning given by section A53;</p></content></hcontainer><hcontainer name="definition"><content><p>“<term refersTo="#term-pre-moratorium-debt">pre-moratorium debt</term>” has the meaning given by section A53;</p></content></hcontainer><hcontainer name="definition"><content><p>“<term refersTo="#term-redundancy-payment">redundancy payment</term>” has the meaning given by section A18;</p></content></hcontainer><hcontainer name="definition"><content><p>“<term refersTo="#term-wages-or-salary">wages or salary</term>” has the meaning given by section A18.</p></content></hcontainer></subsection></section></hcontainer></quotedStructure></mod></p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" eId="schedule-3-paragraph-14" class="schProv1"><num>14</num><subparagraph eId="schedule-3-paragraph-14-1"><num>(1)</num><content><p>Section 175 (preferential debts: general provision) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-3-paragraph-14-2"><num>(2)</num><content><p><mod>In subsection (1), at the end insert<quotedText startQuote="“">after the payment of—
</quotedText><quotedStructure endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="default"><level class="para1"><num>(a)</num><content><p>any liabilities to which section 174A applies, and</p></content></level><level class="para1"><num>(b)</num><content><p>expenses of the winding up.</p></content></level></quotedStructure></mod></p></content></subparagraph><subparagraph eId="schedule-3-paragraph-14-3"><num>(3)</num><content><p>In subsection (1A), omit “after the expenses of the winding up”.</p></content></subparagraph></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-3-paragraph-15" class="schProv1"><num>15</num><subparagraph eId="schedule-3-paragraph-15-1"><num>(1)</num><content><p>Section 233 (supplies of gas, water, electricity etc) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-3-paragraph-15-2"><num>(2)</num><intro><p>In subsection (1)—</p></intro><level class="para1" eId="schedule-3-paragraph-15-2-a"><num>(a)</num><content><p>omit paragraph (ba);</p></content></level><level class="para1" eId="schedule-3-paragraph-15-2-b"><num>(b)</num><content><p>in the words after paragraph (e), omit “the nominee,”.</p></content></level></subparagraph><subparagraph eId="schedule-3-paragraph-15-3"><num>(3)</num><content><p>In subsection (4), omit paragraph (ba).</p></content></subparagraph></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" eId="schedule-3-paragraph-16" class="schProv1"><num>16</num><intro><p>In section 246ZD (power to assign certain causes of action), in subsection (2)—</p></intro><level class="para1" eId="schedule-3-paragraph-16-a"><num>(a)</num><content><p><mod>after “under” insert <quotedText>“
or by virtue of
”</quotedText>;</mod></p></content></level><level class="para1" eId="schedule-3-paragraph-16-b"><num>(b)</num><content><p><mod>before paragraph (a) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="unknown" uk:docName="unknown" ukl:TargetClass="unknown" ukl:TargetSubClass="unknown" ukl:Context="unknown" ukl:Format="default"><level class="para1"><num>(za)</num><content><p>section A43 (challenges to monitor remuneration in subsequent insolvency proceedings);</p></content></level></quotedStructure><inline name="appendText">.</inline></mod></p></content></level></paragraph>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="schedule-3-paragraph-16-a"><num>(a)</num><content><p><mod>after “under” insert <quotedText>“
or by virtue of
”</quotedText>;</mod></p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" class="para1" eId="schedule-3-paragraph-16-b"><num>(b)</num><content><p><mod>before paragraph (a) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="unknown" uk:docName="unknown" ukl:TargetClass="unknown" ukl:TargetSubClass="unknown" ukl:Context="unknown" ukl:Format="default"><level class="para1"><num>(za)</num><content><p>section A43 (challenges to monitor remuneration in subsequent insolvency proceedings);</p></content></level></quotedStructure><inline name="appendText">.</inline></mod></p></content></level>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" eId="schedule-3-paragraph-17" class="schProv1"><num>17</num><content><p><mod>In section 246A (remote attendance at meetings), in subsection (10), before paragraph (a) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="default"><level class="para1"><num>(za)</num><content><p>the monitor in relation to a moratorium under Part A1,</p></content></level></quotedStructure><inline name="appendText">.</inline></mod></p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" eId="schedule-3-paragraph-18" class="schProv1"><num>18</num><content><p><mod>In section 246B (use of websites), in subsection (3), before paragraph (a) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="default"><level class="para1"><num>(za)</num><content><p>the monitor in relation to a moratorium under Part A1,</p></content></level></quotedStructure><inline name="appendText">.</inline></mod></p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-3-paragraph-19" class="schProv1"><num>19</num><content><p><mod>In section 247 (meaning of “insolvency” etc), in subsection (1), after “includes” insert <quotedText>“
the coming into force of a moratorium for the company under Part A1,
”</quotedText>.</mod></p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-3-paragraph-20" class="schProv1"><num>20</num><content><p>In section 387 (“<term refersTo="#term-the-relevant-date" eId="term-the-relevant-date">the relevant date</term>” in relation to preferential debts), omit subsection (2A).</p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" eId="schedule-3-paragraph-21" class="schProv1"><num>21</num><subparagraph eId="schedule-3-paragraph-21-1"><num>(1)</num><content><p>Section 388 (meaning of “act as insolvency practitioner”) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-3-paragraph-21-2"><num>(2)</num><content><p><mod>In subsection (1)(a), for “or administrative receiver” substitute <quotedText>“
, administrative receiver or monitor
”</quotedText>.</mod></p></content></subparagraph><subparagraph eId="schedule-3-paragraph-21-3"><num>(3)</num><content><p><mod>In subsection (4), at the appropriate place insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="default"><p>“<term refersTo="#term-monitor">monitor</term>” has the same meaning as in Part A1 (moratorium);</p></quotedStructure><inline name="appendText">.</inline></mod></p></content></subparagraph></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-3-paragraph-22" class="schProv1"><num>22</num><subparagraph eId="schedule-3-paragraph-22-1"><num>(1)</num><content><p>Section 411 (company insolvency rules) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-3-paragraph-22-2"><num>(2)</num><content><p><mod>In subsection (1), in the words after paragraph (b), for “Parts I” substitute <quotedText>“
Parts A1
”</quotedText>.</mod></p></content></subparagraph><subparagraph eId="schedule-3-paragraph-22-3"><num>(3)</num><content><p><mod>In subsection (3), for “Parts I” substitute <quotedText>“
Parts A1
”</quotedText>.</mod></p></content></subparagraph></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-3-paragraph-23" class="schProv1"><num>23</num><subparagraph eId="schedule-3-paragraph-23-1"><num>(1)</num><content><p>Section 414 (fees orders) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-3-paragraph-23-2"><num>(2)</num><content><p><mod>In subsection (1)(a), for “Parts I” substitute <quotedText>“
Parts A1
”</quotedText>.</mod></p></content></subparagraph><subparagraph eId="schedule-3-paragraph-23-3"><num>(3)</num><content><p><mod>In subsection (8), for “Parts I” substitute <quotedText>“
Parts A1
”</quotedText>.</mod></p></content></subparagraph></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" eId="schedule-3-paragraph-24" class="schProv1"><num>24</num><content><p><mod>Before section 416 (monetary limits (companies winding up)) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="unknown" uk:docName="unknown" ukl:TargetClass="unknown" ukl:TargetSubClass="unknown" ukl:Context="unknown" ukl:Format="default"><section><num>415B</num><heading>Monetary limits (company moratorium)</heading><subsection><num>(1)</num><intro><p>The Secretary of State may by regulations increase or reduce any of the money sums for the time being specified in the following provisions of Part A1—</p></intro><level class="para1"><num>(a)</num><content><p>section A25(1) (maximum amount of credit which company may obtain without disclosing moratorium);</p></content></level><level class="para1"><num>(b)</num><content><p>section A28(2) (maximum amount for certain payments without obtaining monitor consent etc);</p></content></level><level class="para1"><num>(c)</num><content><p>section A46(2) (minimum value of company property concealed or fraudulently removed, affecting criminal liability of company's officer).</p></content></level></subsection><subsection><num>(2)</num><content><p>Regulations under this section may contain such transitional provisions as may appear to the Secretary of State necessary or expedient.</p></content></subsection><subsection><num>(3)</num><content><p>Regulations under this section are to be made by statutory instrument subject to annulment in pursuance of a resolution of either House of Parliament.</p></content></subsection></section></quotedStructure></mod></p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-3-paragraph-25" class="schProv1"><num>25</num><content><p>Omit section 417A (money sums: company moratorium).</p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" eId="schedule-3-paragraph-26" class="schProv1"><num>26</num><content><p><mod>In section 430 (provision introducing Schedule of punishments), after subsection (4) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="default"><subsection><num>(4A)</num><content><p>In relation to an offence committed before section 154(1) of the Criminal Justice Act 2003 comes into force, a reference in Schedule 10 to 12 months on summary conviction in England and Wales is to be read as a reference to 6 months.</p></content></subsection></quotedStructure></mod></p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-3-paragraph-27" class="schProv1"><num>27</num><content><p><mod>In section 431 (summary proceedings), in subsection (1), for “Parts I” substitute <quotedText>“
Parts A1
”</quotedText>.</mod></p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-3-paragraph-28" class="schProv1"><num>28</num><intro><p>In section 432 (offences by bodies corporate), in subsection (4)—</p></intro><level class="para1" eId="schedule-3-paragraph-28-a"><num>(a)</num><content><p><mod>after “sections” insert <quotedText>“
A19(5), A25(3), A26(4), A27(1), A28(5), A29(6), A30(2), A31(10), A32(4),
”</quotedText>;</mod></p></content></level><level class="para1" eId="schedule-3-paragraph-28-b"><num>(b)</num><content><p>omit from “and those under” to the end.</p></content></level></paragraph>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="schedule-3-paragraph-28-a"><num>(a)</num><content><p><mod>after “sections” insert <quotedText>“
A19(5), A25(3), A26(4), A27(1), A28(5), A29(6), A30(2), A31(10), A32(4),
”</quotedText>;</mod></p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="schedule-3-paragraph-28-b"><num>(b)</num><content><p>omit from “and those under” to the end.</p></content></level>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-3-paragraph-29" class="schProv1"><num>29</num><content><p><mod>In section 434 (Crown application), after “Insolvency Act 1985” insert <quotedText>“
and Part A1
”</quotedText>.</mod></p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-3-paragraph-30" class="schProv1"><num>30</num><content><p>Omit Schedule A1 (moratorium where directors propose voluntary arrangement).</p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" eId="schedule-3-paragraph-31" class="schProv1"><num>31</num><subparagraph eId="schedule-3-paragraph-31-1"><num>(1)</num><content><p>Schedule B1 (administration) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-3-paragraph-31-2"><num>(2)</num><content><p>Omit paragraph 24.</p></content></subparagraph><subparagraph eId="schedule-3-paragraph-31-3"><num>(3)</num><content><p><mod>Before paragraph 65 (but after the italic heading “Distribution”) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="unknown" uk:docName="unknown" ukl:TargetClass="unknown" ukl:TargetSubClass="unknown" ukl:Context="unknown" ukl:Format="default"><section><num>64A</num><subsection><num>(1)</num><content><p>This paragraph applies where a company enters administration before the end of the period of 12 weeks beginning with the day after the end of any moratorium for the company under Part A1.</p></content></subsection><subsection><num>(2)</num><intro><p>The administrator must make a distribution to the creditors of the company in respect of—</p></intro><level class="para1"><num>(a)</num><content><p>moratorium debts (within the meaning given by section 174A), and</p></content></level><level class="para1"><num>(b)</num><content><p>priority pre-moratorium debts (within the meaning given by section 174A).</p></content></level></subsection><subsection><num>(3)</num><intro><p>A sum payable under sub-paragraph (2) is to be paid in priority to—</p></intro><level class="para1"><num>(a)</num><content><p>any security to which paragraph 70 applies or paragraph 115(1) applies;</p></content></level><level class="para1"><num>(b)</num><content><p>any sums payable under paragraph 99.</p></content></level></subsection><subsection><num>(4)</num><content><p>The administrator must realise any property necessary to comply with sub-paragraph (2).</p></content></subsection><subsection><num>(5)</num><content><p>The rules may make provision as to the order in which the moratorium and priority pre-moratorium debts rank among themselves for the purposes of this paragraph in a case where the assets of the company are insufficient to meet them in full.</p></content></subsection></section></quotedStructure></mod></p></content></subparagraph><subparagraph eId="schedule-3-paragraph-31-4"><num>(4)</num><content><p><mod>In paragraph 65, for sub-paragraph (1) substitute—<quotedStructure startQuote="“" endQuote="”" uk:context="unknown" uk:docName="unknown" ukl:TargetClass="unknown" ukl:TargetSubClass="unknown" ukl:Context="unknown" ukl:Format="default"><subsection><num>(1)</num><content><p>If the assets of a company are sufficient to meet any debts or other liabilities payable under paragraph 64A in full, the administrator of the company may make a distribution to any other creditor of the company.</p></content></subsection></quotedStructure></mod></p></content></subparagraph><subparagraph eId="schedule-3-paragraph-31-5"><num>(5)</num><content><p><mod>In paragraph 66, for “The administrator of a company” substitute <quotedText>“
If the debts and other liabilities payable under paragraph 64A have been met, the administrator of a company
”</quotedText>.</mod></p></content></subparagraph></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-3-paragraph-32" class="schProv1"><num>32</num><subparagraph eId="schedule-3-paragraph-32-1"><num>(1)</num><content><p>Schedule 8 (provision capable of inclusion in company insolvency rules) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-3-paragraph-32-2"><num>(2)</num><content><p><mod>In paragraph 2, for “Parts I” substitute <quotedText>“
Parts A1
”</quotedText>.</mod></p></content></subparagraph><subparagraph eId="schedule-3-paragraph-32-3"><num>(3)</num><content><p><mod>In paragraph 8, after “is,” insert <quotedText>“
the monitor in relation to a moratorium under Part A1 or
”</quotedText>.</mod></p></content></subparagraph></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" xmlns:default="http://www.w3.org/1999/xhtml" eId="schedule-3-paragraph-33" class="schProv1"><num>33</num><subparagraph eId="schedule-3-paragraph-33-1"><num>(1)</num><content><p>Schedule 10 (punishment of offences under the Act) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-3-paragraph-33-2"><num>(2)</num><content><p>Omit the entries relating to Schedule A1.</p></content></subparagraph><subparagraph eId="schedule-3-paragraph-33-3"><num>(3)</num><content><p><mod>At the appropriate place insert—<quotedStructure startQuote="“" endQuote="”" uk:context="unknown" uk:docName="unknown" ukl:TargetClass="unknown" ukl:TargetSubClass="unknown" ukl:Context="unknown" ukl:Format="default"><tblock class="table" ukl:Orientation="portrait"><foreign><default:table xmlns="http://www.w3.org/1999/xhtml"><default:colgroup><default:col style="width:25%"/><default:col style="width:35%"/><default:col style="width:20%"/><default:col style="width:20%"/></default:colgroup><default:tbody><default:tr><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A8(4)</p></default:td><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Directors failing to notify monitor of beginning of moratorium.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2 years or a fine or both.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">On conviction in England and Wales: 12 months or a fine or both. On conviction in Scotland: 12 months or the statutory maximum or both.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A8(5)</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Monitor failing to notify creditors etc of beginning of moratorium.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Level 3 on the standard scale.</p></default:td></default:tr><default:tr><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A17(6)</p></default:td><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Directors failing to notify monitor of change in end of moratorium.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2 years or a fine or both.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">On conviction in England and Wales: 12 months or a fine or both. On conviction in Scotland: 12 months or the statutory maximum or both.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A17(7)</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Monitor failing to notify creditors etc of change in end of moratorium.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Level 3 on the standard scale.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A19(5)</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Company or officer failing to state in correspondence etc that moratorium in force.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Level 3 on the standard scale.</p></default:td></default:tr><default:tr><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A24(4)</p></default:td><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Directors failing to notify monitor of insolvency proceedings etc.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2 years or a fine or both.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">On conviction in England and Wales: 12 months or a fine or both. On conviction in Scotland: 12 months or the statutory maximum or both.</p></default:td></default:tr><default:tr><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A25(3)(a)</p></default:td><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Company obtaining credit without disclosing existence of moratorium.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A fine.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">On conviction in England and Wales: a fine. On conviction in Scotland: the statutory maximum.</p></default:td></default:tr><default:tr><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A25(3)(b)</p></default:td><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Obtaining credit for company without disclosing existence of moratorium.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2 years or a fine or both.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">On conviction in England and Wales: 12 months or a fine or both. On conviction in Scotland: 12 months or the statutory maximum or both.</p></default:td></default:tr><default:tr><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A26(4)(a)</p></default:td><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Company granting security without monitor's consent.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A fine.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">On conviction in England and Wales: a fine. On conviction in Scotland: the statutory maximum.</p></default:td></default:tr><default:tr><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A26(4)(b)</p></default:td><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Authorising or permitting company to do so.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2 years or a fine or both.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">On conviction in England and Wales: 12 months or a fine or both. On conviction in Scotland: 12 months or the statutory maximum or both.</p></default:td></default:tr><default:tr><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A27(1)(a)</p></default:td><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Company entering into market contract, etc.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A fine.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">On conviction in England and Wales: a fine. On conviction in Scotland: the statutory maximum.</p></default:td></default:tr><default:tr><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A27(1)(b)</p></default:td><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Authorising or permitting company to do so.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2 years or a fine or both.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">On conviction in England and Wales: 12 months or a fine or both. On conviction in Scotland: 12 months or the statutory maximum or both.</p></default:td></default:tr><default:tr><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A28(5)(a)</p></default:td><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Company making unauthorised payments.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A fine.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">On conviction in England and Wales: a fine. On conviction in Scotland: the statutory maximum.</p></default:td></default:tr><default:tr><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A28(5)(b)</p></default:td><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Authorising or permitting company to do so.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2 years or a fine or both.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">On conviction in England and Wales: 12 months or a fine or both. On conviction in Scotland: 12 months or the statutory maximum or both.</p></default:td></default:tr><default:tr><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A29(6)(a)</p></default:td><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Company making unauthorised disposal of property.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A fine.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">On conviction in England and Wales: a fine. On conviction in Scotland: the statutory maximum.</p></default:td></default:tr><default:tr><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A29(6)(b)</p></default:td><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Authorising or permitting such a disposal.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2 years or a fine or both.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">On conviction in England and Wales: 12 months or a fine or both. On conviction in Scotland: 12 months or the statutory maximum or both.</p></default:td></default:tr><default:tr><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A30(2)(a)</p></default:td><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Unauthorised disposal of hire-purchase property.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A fine.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">On conviction in England and Wales: a fine. On conviction in Scotland: the statutory maximum.</p></default:td></default:tr><default:tr><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A30(2)(b)</p></default:td><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Authorising or permitting such a disposal.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2 years or a fine or both.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">On conviction in England and Wales: 12 months or a fine or both. On conviction in Scotland: 12 months or the statutory maximum or both.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A31(8)</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Directors failing to send to registrar copy of court order permitting disposal of charged property.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Level 3 on the standard scale.</p></default:td></default:tr><default:tr><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A31(10)(a)</p></default:td><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Company failing to comply with requirements relating to disposal of charged property.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A fine.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">On conviction in England and Wales: a fine. On conviction in Scotland: the statutory maximum.</p></default:td></default:tr><default:tr><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A31(10)(b)</p></default:td><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Authorising or permitting such a failure.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2 years or a fine or both.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">On conviction in England and Wales: 12 months or a fine or both. On conviction in Scotland: 12 months or the statutory maximum or both.</p></default:td></default:tr><default:tr><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A32(4)(a)</p></default:td><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Company failing to comply with requirements relating to disposal of hire-purchase property.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A fine.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">On conviction in England and Wales: a fine. On conviction in Scotland: the statutory maximum.</p></default:td></default:tr><default:tr><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A32(4)(b)</p></default:td><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Authorising or permitting such a failure.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2 years or a fine or both.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">On conviction in England and Wales: 12 months or a fine or both. On conviction in Scotland: 12 months or the statutory maximum or both.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A32(6)</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Directors failing to send to registrar copy of court order permitting disposal of hire-purchase property.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Level 3 on the standard scale.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A39(9)</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Monitor failing to notify creditors etc of change in monitor.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Level 3 on the standard scale.</p></default:td></default:tr><default:tr><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A46(1)</p></default:td><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Fraud or privity to fraud during or in anticipation of moratorium.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2 years or a fine or both.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">On conviction in England and Wales: 12 months or a fine or both. On conviction in Scotland: 12 months or the statutory maximum or both.</p></default:td></default:tr><default:tr><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A46(4)</p></default:td><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Knowingly taking in pawn or pledge, or otherwise receiving, company property.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2 years or a fine or both.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">On conviction in England and Wales: 12 months or a fine or both. On conviction in Scotland: 12 months or the statutory maximum or both.</p></default:td></default:tr><default:tr><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A47(1)</p></default:td><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">False representation or fraud for purpose of obtaining or extending moratorium.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2 years or a fine or both.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">On conviction in England and Wales: 12 months or a fine or both. On conviction in Scotland: 12 months or the statutory maximum or both.</p></default:td></default:tr><default:tr><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A49(5)</p></default:td><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Directors failing to notify regulator of qualifying decision procedure in relation to regulated company</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2 years or a fine or both.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">On conviction in England and Wales: 12 months or a fine or both. On conviction in Scotland: 12 months or the statutory maximum or both.</p></default:td></default:tr></default:tbody></default:table></foreign></tblock></quotedStructure></mod></p></content></subparagraph></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" eId="schedule-4-paragraph-26" class="schProv1"><num>26</num><intro><p>Rule 15.31 of the England and Wales Insolvency Rules (calculation of voting rights) has effect as if—</p></intro><level class="para1" eId="schedule-4-paragraph-26-a"><num>(a)</num><content><p><mod>before paragraph (1) there were inserted—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="rule" ukl:Context="main" ukl:Format="double"><paragraph><num>A1</num><content><p>In relation to a decision to consent to a revised end date for a moratorium under section <ref href="#d25e1007">A12</ref> of the Act votes are calculated according to the amount of each creditor’s claim at the decision date.</p></content></paragraph></quotedStructure><inline name="appendText">;</inline></mod></p></content></level><level class="para1" eId="schedule-4-paragraph-26-b"><num>(b)</num><content><p><mod>after paragraph (2) there were inserted—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="rule" ukl:Context="main" ukl:Format="double"><paragraph><num>(2A)</num><content><p>But in relation to a decision to consent to a revised end date for a moratorium under section <ref href="#d25e1007">A12</ref> of the Act, a debt of an unliquidated or unascertained amount is to be valued at £1 for the purposes of voting unless the convener or chair or an appointed person decides to put a higher value on it.</p></content></paragraph></quotedStructure><inline name="appendText">;</inline></mod></p></content></level><level class="para1" eId="schedule-4-paragraph-26-c"><num>(c)</num><content><p><mod>in paragraph (6), after sub-paragraph (b) there were inserted—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="rule" ukl:Context="main" ukl:Format="double"><level class="para1"><num>(c)</num><content><p>where the decision relates to whether to consent to a revised end date for a moratorium under section <ref href="#d25e1007">A12</ref> of the Act.</p></content></level></quotedStructure></mod></p></content></level></paragraph>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" class="para1" eId="schedule-4-paragraph-26-a"><num>(a)</num><content><p><mod>before paragraph (1) there were inserted—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="rule" ukl:Context="main" ukl:Format="double"><paragraph><num>A1</num><content><p>In relation to a decision to consent to a revised end date for a moratorium under section <ref href="#d25e1007">A12</ref> of the Act votes are calculated according to the amount of each creditor’s claim at the decision date.</p></content></paragraph></quotedStructure><inline name="appendText">;</inline></mod></p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" class="para1" eId="schedule-4-paragraph-26-b"><num>(b)</num><content><p><mod>after paragraph (2) there were inserted—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="rule" ukl:Context="main" ukl:Format="double"><paragraph><num>(2A)</num><content><p>But in relation to a decision to consent to a revised end date for a moratorium under section <ref href="#d25e1007">A12</ref> of the Act, a debt of an unliquidated or unascertained amount is to be valued at £1 for the purposes of voting unless the convener or chair or an appointed person decides to put a higher value on it.</p></content></paragraph></quotedStructure><inline name="appendText">;</inline></mod></p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" class="para1" eId="schedule-4-paragraph-26-c"><num>(c)</num><content><p><mod>in paragraph (6), after sub-paragraph (b) there were inserted—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="rule" ukl:Context="main" ukl:Format="double"><level class="para1"><num>(c)</num><content><p>where the decision relates to whether to consent to a revised end date for a moratorium under section <ref href="#d25e1007">A12</ref> of the Act.</p></content></level></quotedStructure></mod></p></content></level>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" eId="schedule-4-paragraph-27" class="schProv1"><num>27</num><content><p><mod>Rule 15.32 of the England and Wales Insolvency Rules (calculation of voting rights: special cases) has effect as if, before paragraph (1), there were inserted—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="rule" ukl:Context="main" ukl:Format="double"><paragraph><num>A1</num><content><p>In relation to a decision to consent to a revised end date for a moratorium under section <ref href="#d25e1007">A12</ref> of the Act, a pre-moratorium creditor under a hire-purchase agreement is entitled to vote in respect of the amount of the debt due and payable by the company at the decision date.</p></content></paragraph><paragraph><num>B1</num><content><p>In calculating the amount of any debt for the purpose of paragraph (A1), no account is to be taken of any amount attributable to the exercise of any right under the relevant agreement so far as the right has become exercisable solely by virtue of a moratorium for the company coming into force.</p></content></paragraph></quotedStructure></mod></p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" eId="schedule-4-paragraph-28" class="schProv1"><num>28</num><content><p><mod>Rule 15.34 of the England and Wales Insolvency Rules (requisite majorities) has effect as if, before paragraph (1), there were inserted—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="rule" ukl:Context="main" ukl:Format="double"><paragraph><num>A1</num><intro><p>Subject to paragraph (B1), a decision to consent to a revised end date for a moratorium under section <ref href="#d25e1007">A12</ref> of the Act is made if, of those voting—</p></intro><level class="para1"><num>(a)</num><content><p>a majority (in value) of the pre-moratorium creditors who are secured creditors vote in favour of the proposed decision, and</p></content></level><level class="para1"><num>(b)</num><content><p>a majority (in value) of the pre-moratorium creditors who are unsecured creditors vote in favour of the proposed decision.</p></content></level></paragraph><paragraph><num>B1</num><intro><p>But a decision to consent to a revised end date for a moratorium under section <ref href="#d25e1007">A12</ref> of the Act is not made if, of those voting either—</p></intro><level class="para1"><num>(a)</num><content><p>a majority of the pre-moratorium creditors who are unconnected secured creditors vote against the proposed end date, or</p></content></level><level class="para1"><num>(b)</num><content><p>a majority of the pre-moratorium creditors who are unconnected unsecured creditors vote against the proposed end date.</p></content></level></paragraph><paragraph><num>C1</num><intro><p>For the purposes of paragraph (B1)—</p></intro><level class="para1"><num>(a)</num><content><p>a creditor is unconnected unless the convener or chair decides that the creditor is connected, and</p></content></level><level class="para1"><num>(b)</num><content><p>the total value of the unconnected creditors is the total value of those unconnected creditors whose claims have been admitted for voting.</p></content></level></paragraph></quotedStructure></mod></p></content></paragraph>
<section xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-35"><num>35</num><heading>Procedure for regulations made by the Secretary of State</heading><subsection eId="section-35-1"><num>(1)</num><content><p>Regulations made by the Secretary of State under sections 28 to 33 are to be made by statutory instrument.</p></content></subsection><subsection eId="section-35-2"><num>(2)</num><intro><p>A statutory instrument containing—</p></intro><level class="para1" eId="section-35-2-a"><num>(a)</num><content><p>regulations made under section 28 by the Secretary of State, other than one to which subsection (6)(a) applies, or</p></content></level><level class="para1" eId="section-35-2-b"><num>(b)</num><content><p>regulations made under section 33 by the Secretary of State which make provision by amending an Act,</p></content></level><wrapUp><p>must be laid before Parliament as soon as reasonably practicable after being made.</p></wrapUp></subsection><subsection eId="section-35-3"><num>(3)</num><content><p>Regulations contained in a statutory instrument laid before Parliament by virtue of subsection (2) cease to have effect at the end of the period of 40 days beginning with the day on which the instrument is made, unless during that period the instrument is approved by a resolution of each House of Parliament.</p></content></subsection><subsection eId="section-35-4"><num>(4)</num><intro><p>In calculating the period of 40 days, no account is to be taken of any time during which—</p></intro><level class="para1" eId="section-35-4-a"><num>(a)</num><content><p>Parliament is dissolved or prorogued, or</p></content></level><level class="para1" eId="section-35-4-b"><num>(b)</num><content><p>both Houses of Parliament are adjourned for more than 4 days.</p></content></level></subsection><subsection eId="section-35-5"><num>(5)</num><intro><p>Where regulations cease to have effect as a result of subsection (3) that does not—</p></intro><level class="para1" eId="section-35-5-a"><num>(a)</num><content><p>affect anything previously done under or by virtue of the regulations, or</p></content></level><level class="para1" eId="section-35-5-b"><num>(b)</num><content><p>prevent the making of new regulations.</p></content></level></subsection><subsection eId="section-35-6"><num>(6)</num><intro><p>A statutory instrument containing—</p></intro><level class="para1" eId="section-35-6-a"><num>(a)</num><content><p>regulations made by the Secretary of State under section 28 which merely revoke other regulations under that section (with or without transitional provision), or</p></content></level><level class="para1" eId="section-35-6-b"><num>(b)</num><content><p>regulations made by the Secretary of State under section 31(4),</p></content></level><wrapUp><p>is subject to annulment in pursuance of a resolution of either House of Parliament.</p></wrapUp></subsection><subsection eId="section-35-7"><num>(7)</num><content><p>Regulations under section 32(3) may not be made by the Secretary of State unless a draft of the statutory instrument containing them has been laid before, and approved by a resolution of, each House of Parliament.</p></content></subsection><subsection eId="section-35-8"><num>(8)</num><content><p>A statutory instrument containing regulations made by the Secretary of State under section 33 which do not make provision by amending an Act is subject to annulment in pursuance of a resolution of either House of Parliament (unless the regulations were contained in a statutory instrument laid before Parliament by virtue of subsection (2)).</p></content></subsection></section>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-35-1"><num>(1)</num><content><p>Regulations made by the Secretary of State under sections 28 to 33 are to be made by statutory instrument.</p></content></subsection>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-35-2"><num>(2)</num><intro><p>A statutory instrument containing—</p></intro><level class="para1" eId="section-35-2-a"><num>(a)</num><content><p>regulations made under section 28 by the Secretary of State, other than one to which subsection (6)(a) applies, or</p></content></level><level class="para1" eId="section-35-2-b"><num>(b)</num><content><p>regulations made under section 33 by the Secretary of State which make provision by amending an Act,</p></content></level><wrapUp><p>must be laid before Parliament as soon as reasonably practicable after being made.</p></wrapUp></subsection>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-35-2-a"><num>(a)</num><content><p>regulations made under section 28 by the Secretary of State, other than one to which subsection (6)(a) applies, or</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-35-2-b"><num>(b)</num><content><p>regulations made under section 33 by the Secretary of State which make provision by amending an Act,</p></content></level>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-35-3"><num>(3)</num><content><p>Regulations contained in a statutory instrument laid before Parliament by virtue of subsection (2) cease to have effect at the end of the period of 40 days beginning with the day on which the instrument is made, unless during that period the instrument is approved by a resolution of each House of Parliament.</p></content></subsection>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-35-4"><num>(4)</num><intro><p>In calculating the period of 40 days, no account is to be taken of any time during which—</p></intro><level class="para1" eId="section-35-4-a"><num>(a)</num><content><p>Parliament is dissolved or prorogued, or</p></content></level><level class="para1" eId="section-35-4-b"><num>(b)</num><content><p>both Houses of Parliament are adjourned for more than 4 days.</p></content></level></subsection>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-35-4-a"><num>(a)</num><content><p>Parliament is dissolved or prorogued, or</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-35-4-b"><num>(b)</num><content><p>both Houses of Parliament are adjourned for more than 4 days.</p></content></level>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-35-5"><num>(5)</num><intro><p>Where regulations cease to have effect as a result of subsection (3) that does not—</p></intro><level class="para1" eId="section-35-5-a"><num>(a)</num><content><p>affect anything previously done under or by virtue of the regulations, or</p></content></level><level class="para1" eId="section-35-5-b"><num>(b)</num><content><p>prevent the making of new regulations.</p></content></level></subsection>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-35-5-a"><num>(a)</num><content><p>affect anything previously done under or by virtue of the regulations, or</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-35-5-b"><num>(b)</num><content><p>prevent the making of new regulations.</p></content></level>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-35-6"><num>(6)</num><intro><p>A statutory instrument containing—</p></intro><level class="para1" eId="section-35-6-a"><num>(a)</num><content><p>regulations made by the Secretary of State under section 28 which merely revoke other regulations under that section (with or without transitional provision), or</p></content></level><level class="para1" eId="section-35-6-b"><num>(b)</num><content><p>regulations made by the Secretary of State under section 31(4),</p></content></level><wrapUp><p>is subject to annulment in pursuance of a resolution of either House of Parliament.</p></wrapUp></subsection>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-35-6-a"><num>(a)</num><content><p>regulations made by the Secretary of State under section 28 which merely revoke other regulations under that section (with or without transitional provision), or</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-35-6-b"><num>(b)</num><content><p>regulations made by the Secretary of State under section 31(4),</p></content></level>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-35-7"><num>(7)</num><content><p>Regulations under section 32(3) may not be made by the Secretary of State unless a draft of the statutory instrument containing them has been laid before, and approved by a resolution of, each House of Parliament.</p></content></subsection>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-35-8"><num>(8)</num><content><p>A statutory instrument containing regulations made by the Secretary of State under section 33 which do not make provision by amending an Act is subject to annulment in pursuance of a resolution of either House of Parliament (unless the regulations were contained in a statutory instrument laid before Parliament by virtue of subsection (2)).</p></content></subsection>
<section xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-36"><num>36</num><heading>Interpretation</heading><subsection eId="section-36-1"><num>(1)</num><intro><p>In sections 28 to 35 and this section—</p></intro><hcontainer name="definition"><content><p>“<term refersTo="#term-coronavirus" eId="term-coronavirus">coronavirus</term>” means severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2);</p></content></hcontainer><hcontainer name="definition"><intro><p>“<term refersTo="#term-corporate-insolvency-or-governance-legislation" eId="term-corporate-insolvency-or-governance-legislation">corporate insolvency or governance legislation</term>” means—</p></intro><level class="para1"><num>(a)</num><content><p>the Insolvency (Northern Ireland) Order 1989 (S.I. 1989/2405 (N.I. 19)), except so far as relating to the insolvency or bankruptcy of individuals,</p></content></level><level class="para1"><num>(b)</num><content><p>Part 26A of the Companies Act 2006 (arrangements and reconstructions for companies in financial difficulty),</p></content></level><level class="para1"><num>(c)</num><content><p>the Company Directors Disqualification (Northern Ireland) Order 2002 (S.I. 2002/3150 (N.I. 4)),</p></content></level><level class="para1"><num>(d)</num><content><p>this Act,</p></content></level><level class="para1"><num>(e)</num><content><p>any statutory provision made under the enactments specified in paragraphs (a) to (d),</p></content></level><level class="para1"><num>(f)</num><content><p>the Cross-Border Insolvency Regulations (Northern Ireland) 2007 (S.R. (N.I.) 2007/115), and</p></content></level><level class="para1"><num>(g)</num><content><p>after IP completion day, <ref href="http://www.legislation.gov.uk/european/regulation/2015/0848">Regulation (EU) 2015/848</ref> on insolvency proceedings;</p></content></level></hcontainer><hcontainer name="definition"><intro><p>“<term refersTo="#term-corporate-insolvency-or-restructuring-procedure" eId="term-corporate-insolvency-or-restructuring-procedure">corporate insolvency or restructuring procedure</term>” means—</p></intro><level class="para1"><num>(a)</num><content><p>a moratorium under Part 1A of the Insolvency (Northern Ireland) Order 1989;</p></content></level><level class="para1"><num>(b)</num><content><p>a company voluntary arrangement under Part 2 of that Order (including a moratorium under Article 14A of that Order in a case where such a moratorium applies after the coming into force of paragraph 26 of Schedule 7);</p></content></level><level class="para1"><num>(c)</num><content><p>administration under Part 3 of that Order;</p></content></level><level class="para1"><num>(d)</num><content><p>receivership to which Part 4 of that Order applies;</p></content></level><level class="para1"><num>(e)</num><content><p>winding up under Part 5 or 6 of that Order;</p></content></level><level class="para1"><num>(f)</num><content><p>the procedure provided for by Part 26A of the Companies Act 2006;</p></content></level></hcontainer><hcontainer name="definition"><content><p>“<term refersTo="#term-the-department" eId="term-the-department">the Department</term>” means the Department for the Economy in Northern Ireland;</p></content></hcontainer><hcontainer name="definition"><intro><p>“<term refersTo="#term-person-with-corporate-responsibility" eId="term-person-with-corporate-responsibility">person with corporate responsibility</term>” means—</p></intro><level class="para1"><num>(a)</num><content><p>in relation to a company, a director, manager, secretary or other officer of the body,</p></content></level><level class="para1"><num>(b)</num><content><p>in relation to a partnership or limited liability partnership, a partner or member, and</p></content></level><level class="para1"><num>(c)</num><content><p>in relation to any other entity, a person with responsibility for managing the entity;</p></content></level></hcontainer><hcontainer name="definition"><content><p>“<term refersTo="#term-relevant-authority" eId="term-relevant-authority">relevant authority</term>” has the meaning given by section 28(4);</p></content></hcontainer><hcontainer name="definition"><content><p>“<term refersTo="#term-statutory-provision" eId="term-statutory-provision">statutory provision</term>” has the meaning given by section 1(f) of the Interpretation Act (Northern Ireland) 1954 (c. 33 (N.I.)).</p></content></hcontainer></subsection><subsection eId="section-36-2"><num>(2)</num><content><p>References to an enactment in subsection (1) include in particular that enactment as applied by any other enactment, with or without modifications, to partnerships, limited liability partnerships or other entities.</p></content></subsection><subsection eId="section-36-3"><num>(3)</num><content><p>In this section “<term refersTo="#term-enactment" eId="term-enactment">enactment</term>” includes an enactment contained in Northern Ireland legislation or an instrument made under Northern Ireland legislation.</p></content></subsection></section>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-36-1"><num>(1)</num><intro><p>In sections 28 to 35 and this section—</p></intro><hcontainer name="definition"><content><p>“<term refersTo="#term-coronavirus" eId="term-coronavirus">coronavirus</term>” means severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2);</p></content></hcontainer><hcontainer name="definition"><intro><p>“<term refersTo="#term-corporate-insolvency-or-governance-legislation" eId="term-corporate-insolvency-or-governance-legislation">corporate insolvency or governance legislation</term>” means—</p></intro><level class="para1"><num>(a)</num><content><p>the Insolvency (Northern Ireland) Order 1989 (S.I. 1989/2405 (N.I. 19)), except so far as relating to the insolvency or bankruptcy of individuals,</p></content></level><level class="para1"><num>(b)</num><content><p>Part 26A of the Companies Act 2006 (arrangements and reconstructions for companies in financial difficulty),</p></content></level><level class="para1"><num>(c)</num><content><p>the Company Directors Disqualification (Northern Ireland) Order 2002 (S.I. 2002/3150 (N.I. 4)),</p></content></level><level class="para1"><num>(d)</num><content><p>this Act,</p></content></level><level class="para1"><num>(e)</num><content><p>any statutory provision made under the enactments specified in paragraphs (a) to (d),</p></content></level><level class="para1"><num>(f)</num><content><p>the Cross-Border Insolvency Regulations (Northern Ireland) 2007 (S.R. (N.I.) 2007/115), and</p></content></level><level class="para1"><num>(g)</num><content><p>after IP completion day, <ref href="http://www.legislation.gov.uk/european/regulation/2015/0848">Regulation (EU) 2015/848</ref> on insolvency proceedings;</p></content></level></hcontainer><hcontainer name="definition"><intro><p>“<term refersTo="#term-corporate-insolvency-or-restructuring-procedure" eId="term-corporate-insolvency-or-restructuring-procedure">corporate insolvency or restructuring procedure</term>” means—</p></intro><level class="para1"><num>(a)</num><content><p>a moratorium under Part 1A of the Insolvency (Northern Ireland) Order 1989;</p></content></level><level class="para1"><num>(b)</num><content><p>a company voluntary arrangement under Part 2 of that Order (including a moratorium under Article 14A of that Order in a case where such a moratorium applies after the coming into force of paragraph 26 of Schedule 7);</p></content></level><level class="para1"><num>(c)</num><content><p>administration under Part 3 of that Order;</p></content></level><level class="para1"><num>(d)</num><content><p>receivership to which Part 4 of that Order applies;</p></content></level><level class="para1"><num>(e)</num><content><p>winding up under Part 5 or 6 of that Order;</p></content></level><level class="para1"><num>(f)</num><content><p>the procedure provided for by Part 26A of the Companies Act 2006;</p></content></level></hcontainer><hcontainer name="definition"><content><p>“<term refersTo="#term-the-department" eId="term-the-department">the Department</term>” means the Department for the Economy in Northern Ireland;</p></content></hcontainer><hcontainer name="definition"><intro><p>“<term refersTo="#term-person-with-corporate-responsibility" eId="term-person-with-corporate-responsibility">person with corporate responsibility</term>” means—</p></intro><level class="para1"><num>(a)</num><content><p>in relation to a company, a director, manager, secretary or other officer of the body,</p></content></level><level class="para1"><num>(b)</num><content><p>in relation to a partnership or limited liability partnership, a partner or member, and</p></content></level><level class="para1"><num>(c)</num><content><p>in relation to any other entity, a person with responsibility for managing the entity;</p></content></level></hcontainer><hcontainer name="definition"><content><p>“<term refersTo="#term-relevant-authority" eId="term-relevant-authority">relevant authority</term>” has the meaning given by section 28(4);</p></content></hcontainer><hcontainer name="definition"><content><p>“<term refersTo="#term-statutory-provision" eId="term-statutory-provision">statutory provision</term>” has the meaning given by section 1(f) of the Interpretation Act (Northern Ireland) 1954 (c. 33 (N.I.)).</p></content></hcontainer></subsection>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-36-2"><num>(2)</num><content><p>References to an enactment in subsection (1) include in particular that enactment as applied by any other enactment, with or without modifications, to partnerships, limited liability partnerships or other entities.</p></content></subsection>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-36-3"><num>(3)</num><content><p>In this section “<term refersTo="#term-enactment" eId="term-enactment">enactment</term>” includes an enactment contained in Northern Ireland legislation or an instrument made under Northern Ireland legislation.</p></content></subsection>
<hcontainer xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" name="crossheading" ukl:Name="Pblock" eId="crossheading-meetings-and-filings"><heading><i>Meetings and filings</i></heading><section eId="section-37"><num>37</num><heading>Meetings of companies and other bodies</heading><content><p>Schedule 14 makes provision about meetings of companies and other bodies.</p></content></section><section eId="section-38"><num>38</num><heading>Temporary extension of period for public company to file accounts</heading><subsection eId="section-38-1"><num>(1)</num><intro><p>This section applies where (but for this section) the period allowed for the directors of a public company to comply with their obligation under section 441 of the Companies Act 2006 to deliver accounts and reports for a financial year to the registrar would end—</p></intro><level class="para1" eId="section-38-1-a"><num>(a)</num><content><p>after 25 March 2020, and</p></content></level><level class="para1" eId="section-38-1-b"><num>(b)</num><content><p>before the relevant day.</p></content></level></subsection><subsection eId="section-38-2"><num>(2)</num><content><p>The period allowed for the directors to comply with that obligation is to be taken to be (and always to have been) a period that ends with the relevant day.</p></content></subsection><subsection eId="section-38-3"><num>(3)</num><intro><p>The relevant day is whichever is the earlier of—</p></intro><level class="para1" eId="section-38-3-a"><num>(a)</num><content><p>30 September 2020, and</p></content></level><level class="para1" eId="section-38-3-b"><num>(b)</num><content><p>the last day of the period of 12 months immediately following the end of the relevant accounting reference period.</p></content></level></subsection><subsection eId="section-38-4"><num>(4)</num><content><p>Expressions used in this section and section 442 of the Companies Act 2006 (period allowed for filing accounts) have the same meaning in this section as in that section.</p></content></subsection></section><section eId="section-39"><num>39</num><heading>Temporary power to extend periods for providing information to registrar</heading><subsection eId="section-39-1"><num>(1)</num><content><p><mod>The Secretary of State may by regulations provide that any provision listed in section 40 is to have effect as if for a reference in the provision to a period of days or months (“the existing period”) there were substituted a reference to such longer period ( <quotedText>“
the substituted period
”</quotedText>) as is specified in the regulations.</mod></p></content></subsection><subsection eId="section-39-2"><num>(2)</num><intro><p>The substituted period must not exceed—</p></intro><level class="para1" eId="section-39-2-a"><num>(a)</num><content><p>42 days, in a case where the existing period is 21 days or fewer, and</p></content></level><level class="para1" eId="section-39-2-b"><num>(b)</num><content><p>12 months, in a case where the existing period is 3, 6 or 9 months.</p></content></level></subsection><subsection eId="section-39-3"><num>(3)</num><content><p>The power conferred by this section may not be exercised in relation to a reference to a period of 12 months.</p></content></subsection><subsection eId="section-39-4"><num>(4)</num><intro><p>Regulations under this section may make—</p></intro><level class="para1" eId="section-39-4-a"><num>(a)</num><content><p>different provision for different purposes;</p></content></level><level class="para1" eId="section-39-4-b"><num>(b)</num><content><p>consequential, incidental or supplementary provision (including provision modifying an enactment);</p></content></level><level class="para1" eId="section-39-4-c"><num>(c)</num><content><p>transitional provision or savings.</p></content></level></subsection><subsection eId="section-39-5"><num>(5)</num><content><p>In subsection (4) “<term refersTo="#term-enactment" eId="term-enactment">enactment</term>” includes an Act of the Scottish Parliament and an instrument made under such an Act.</p></content></subsection><subsection eId="section-39-6"><num>(6)</num><content><p>Regulations under this section are to be made by statutory instrument.</p></content></subsection><subsection eId="section-39-7"><num>(7)</num><content><p>A statutory instrument containing regulations under this section is subject to annulment in pursuance of a resolution of either House of Parliament.</p></content></subsection><subsection eId="section-39-8"><num>(8)</num><content><p>This section expires at the end of the day on 5 April 2021.</p></content></subsection><subsection eId="section-39-9"><num>(9)</num><content><p>The expiry of this section does not affect the continued operation of any regulations made under this section for the purpose of determining the length of any period that begins before the expiry.</p></content></subsection></section><section eId="section-40"><num>40</num><heading>Section 39: the listed provisions</heading><intro><p>The provisions referred to in section 39(1) are—</p></intro><level class="para1" eId="section-40-a"><num>(a)</num><content><p>section 9 of the Limited Partnerships Act 1907 (registration of changes to a limited partnership);</p></content></level><level class="para1" eId="section-40-b"><num>(b)</num><content><p>section 466 of the Companies Act 1985 (registration of alteration to a floating charge);</p></content></level><level class="para1" eId="section-40-c"><num>(c)</num><content><p>section 9 of the Limited Liability Partnerships Act 2000 (notice of membership changes);</p></content></level><level class="para1" eId="section-40-d"><num>(d)</num><content><p>regulation 80C of the European Public Limited-Liability Company Regulations 2004 (S.I. 2004/2326) (notice of change in members of the supervisory organ);</p></content></level><level class="para1" eId="section-40-e"><num>(e)</num><content><p>the following sections of the Companies Act 2006—</p><blockList class="unordered none" ukl:Name="UnorderedList" ukl:Decoration="none"><item><p>section 87 (notice of change of address of registered office);</p></item><item><p>section 114 (notice of place where register of members is kept);</p></item><item><p>section 162 (notice of place where register of directors is kept);</p></item><item><p>section 167 (notice of change in directors etc);</p></item><item><p>section 275 (notice of place where register of secretaries is kept);</p></item><item><p>section 276 (notice of change in secretaries etc);</p></item><item><p>section 442 (period allowed for filing accounts);</p></item><item><p>section 790M (register of people with significant control);</p></item><item><p>section 790N (notice of place where PSC register is kept);</p></item><item><p>section 790VA (notice of change to the PSC register);</p></item><item><p>section 853A(1) (confirmation statements);</p></item><item><p>section 859A (registration of charge);</p></item><item><p>section 859B (registration of charge contained in debentures);</p></item><item><p>section 859Q (notice of place where copies of instruments creating charges are kept);</p></item></blockList></content></level><level class="para1" eId="section-40-f"><num>(f)</num><content><p>the following provisions of the Scottish Partnerships (Register of People with Significant Control) Regulations 2017 (S.I. 2017/694)—</p><blockList class="unordered none" ukl:Name="UnorderedList" ukl:Decoration="none"><item><p>regulation 7 (notice of change to the registration information);</p></item><item><p>regulation 8 (notice of ceasing to be a Scottish qualifying partnership);</p></item><item><p>the provisions of Part 5 (duties to deliver information);</p></item><item><p>regulation 35 (confirmation statements).</p></item></blockList></content></level></section></hcontainer>
<section xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-37"><num>37</num><heading>Meetings of companies and other bodies</heading><content><p>Schedule 14 makes provision about meetings of companies and other bodies.</p></content></section>
<section xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-38"><num>38</num><heading>Temporary extension of period for public company to file accounts</heading><subsection eId="section-38-1"><num>(1)</num><intro><p>This section applies where (but for this section) the period allowed for the directors of a public company to comply with their obligation under section 441 of the Companies Act 2006 to deliver accounts and reports for a financial year to the registrar would end—</p></intro><level class="para1" eId="section-38-1-a"><num>(a)</num><content><p>after 25 March 2020, and</p></content></level><level class="para1" eId="section-38-1-b"><num>(b)</num><content><p>before the relevant day.</p></content></level></subsection><subsection eId="section-38-2"><num>(2)</num><content><p>The period allowed for the directors to comply with that obligation is to be taken to be (and always to have been) a period that ends with the relevant day.</p></content></subsection><subsection eId="section-38-3"><num>(3)</num><intro><p>The relevant day is whichever is the earlier of—</p></intro><level class="para1" eId="section-38-3-a"><num>(a)</num><content><p>30 September 2020, and</p></content></level><level class="para1" eId="section-38-3-b"><num>(b)</num><content><p>the last day of the period of 12 months immediately following the end of the relevant accounting reference period.</p></content></level></subsection><subsection eId="section-38-4"><num>(4)</num><content><p>Expressions used in this section and section 442 of the Companies Act 2006 (period allowed for filing accounts) have the same meaning in this section as in that section.</p></content></subsection></section>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-38-1"><num>(1)</num><intro><p>This section applies where (but for this section) the period allowed for the directors of a public company to comply with their obligation under section 441 of the Companies Act 2006 to deliver accounts and reports for a financial year to the registrar would end—</p></intro><level class="para1" eId="section-38-1-a"><num>(a)</num><content><p>after 25 March 2020, and</p></content></level><level class="para1" eId="section-38-1-b"><num>(b)</num><content><p>before the relevant day.</p></content></level></subsection>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-38-1-a"><num>(a)</num><content><p>after 25 March 2020, and</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-38-1-b"><num>(b)</num><content><p>before the relevant day.</p></content></level>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-38-2"><num>(2)</num><content><p>The period allowed for the directors to comply with that obligation is to be taken to be (and always to have been) a period that ends with the relevant day.</p></content></subsection>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-38-3"><num>(3)</num><intro><p>The relevant day is whichever is the earlier of—</p></intro><level class="para1" eId="section-38-3-a"><num>(a)</num><content><p>30 September 2020, and</p></content></level><level class="para1" eId="section-38-3-b"><num>(b)</num><content><p>the last day of the period of 12 months immediately following the end of the relevant accounting reference period.</p></content></level></subsection>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-38-3-a"><num>(a)</num><content><p>30 September 2020, and</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-38-3-b"><num>(b)</num><content><p>the last day of the period of 12 months immediately following the end of the relevant accounting reference period.</p></content></level>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-38-4"><num>(4)</num><content><p>Expressions used in this section and section 442 of the Companies Act 2006 (period allowed for filing accounts) have the same meaning in this section as in that section.</p></content></subsection>
<section xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-39"><num>39</num><heading>Temporary power to extend periods for providing information to registrar</heading><subsection eId="section-39-1"><num>(1)</num><content><p><mod>The Secretary of State may by regulations provide that any provision listed in section 40 is to have effect as if for a reference in the provision to a period of days or months (“the existing period”) there were substituted a reference to such longer period ( <quotedText>“
the substituted period
”</quotedText>) as is specified in the regulations.</mod></p></content></subsection><subsection eId="section-39-2"><num>(2)</num><intro><p>The substituted period must not exceed—</p></intro><level class="para1" eId="section-39-2-a"><num>(a)</num><content><p>42 days, in a case where the existing period is 21 days or fewer, and</p></content></level><level class="para1" eId="section-39-2-b"><num>(b)</num><content><p>12 months, in a case where the existing period is 3, 6 or 9 months.</p></content></level></subsection><subsection eId="section-39-3"><num>(3)</num><content><p>The power conferred by this section may not be exercised in relation to a reference to a period of 12 months.</p></content></subsection><subsection eId="section-39-4"><num>(4)</num><intro><p>Regulations under this section may make—</p></intro><level class="para1" eId="section-39-4-a"><num>(a)</num><content><p>different provision for different purposes;</p></content></level><level class="para1" eId="section-39-4-b"><num>(b)</num><content><p>consequential, incidental or supplementary provision (including provision modifying an enactment);</p></content></level><level class="para1" eId="section-39-4-c"><num>(c)</num><content><p>transitional provision or savings.</p></content></level></subsection><subsection eId="section-39-5"><num>(5)</num><content><p>In subsection (4) “<term refersTo="#term-enactment" eId="term-enactment">enactment</term>” includes an Act of the Scottish Parliament and an instrument made under such an Act.</p></content></subsection><subsection eId="section-39-6"><num>(6)</num><content><p>Regulations under this section are to be made by statutory instrument.</p></content></subsection><subsection eId="section-39-7"><num>(7)</num><content><p>A statutory instrument containing regulations under this section is subject to annulment in pursuance of a resolution of either House of Parliament.</p></content></subsection><subsection eId="section-39-8"><num>(8)</num><content><p>This section expires at the end of the day on 5 April 2021.</p></content></subsection><subsection eId="section-39-9"><num>(9)</num><content><p>The expiry of this section does not affect the continued operation of any regulations made under this section for the purpose of determining the length of any period that begins before the expiry.</p></content></subsection></section>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-39-1"><num>(1)</num><content><p><mod>The Secretary of State may by regulations provide that any provision listed in section 40 is to have effect as if for a reference in the provision to a period of days or months (“the existing period”) there were substituted a reference to such longer period ( <quotedText>“
the substituted period
”</quotedText>) as is specified in the regulations.</mod></p></content></subsection>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-39-2"><num>(2)</num><intro><p>The substituted period must not exceed—</p></intro><level class="para1" eId="section-39-2-a"><num>(a)</num><content><p>42 days, in a case where the existing period is 21 days or fewer, and</p></content></level><level class="para1" eId="section-39-2-b"><num>(b)</num><content><p>12 months, in a case where the existing period is 3, 6 or 9 months.</p></content></level></subsection>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-39-2-a"><num>(a)</num><content><p>42 days, in a case where the existing period is 21 days or fewer, and</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-39-2-b"><num>(b)</num><content><p>12 months, in a case where the existing period is 3, 6 or 9 months.</p></content></level>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-39-3"><num>(3)</num><content><p>The power conferred by this section may not be exercised in relation to a reference to a period of 12 months.</p></content></subsection>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-39-4"><num>(4)</num><intro><p>Regulations under this section may make—</p></intro><level class="para1" eId="section-39-4-a"><num>(a)</num><content><p>different provision for different purposes;</p></content></level><level class="para1" eId="section-39-4-b"><num>(b)</num><content><p>consequential, incidental or supplementary provision (including provision modifying an enactment);</p></content></level><level class="para1" eId="section-39-4-c"><num>(c)</num><content><p>transitional provision or savings.</p></content></level></subsection>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-39-4-a"><num>(a)</num><content><p>different provision for different purposes;</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-39-4-b"><num>(b)</num><content><p>consequential, incidental or supplementary provision (including provision modifying an enactment);</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-39-4-c"><num>(c)</num><content><p>transitional provision or savings.</p></content></level>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-39-5"><num>(5)</num><content><p>In subsection (4) “<term refersTo="#term-enactment" eId="term-enactment">enactment</term>” includes an Act of the Scottish Parliament and an instrument made under such an Act.</p></content></subsection>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-39-6"><num>(6)</num><content><p>Regulations under this section are to be made by statutory instrument.</p></content></subsection>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-39-7"><num>(7)</num><content><p>A statutory instrument containing regulations under this section is subject to annulment in pursuance of a resolution of either House of Parliament.</p></content></subsection>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-39-8"><num>(8)</num><content><p>This section expires at the end of the day on 5 April 2021.</p></content></subsection>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-39-9"><num>(9)</num><content><p>The expiry of this section does not affect the continued operation of any regulations made under this section for the purpose of determining the length of any period that begins before the expiry.</p></content></subsection>
<section xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" eId="section-40"><num>40</num><heading>Section 39: the listed provisions</heading><intro><p>The provisions referred to in section 39(1) are—</p></intro><level class="para1" eId="section-40-a"><num>(a)</num><content><p>section 9 of the Limited Partnerships Act 1907 (registration of changes to a limited partnership);</p></content></level><level class="para1" eId="section-40-b"><num>(b)</num><content><p>section 466 of the Companies Act 1985 (registration of alteration to a floating charge);</p></content></level><level class="para1" eId="section-40-c"><num>(c)</num><content><p>section 9 of the Limited Liability Partnerships Act 2000 (notice of membership changes);</p></content></level><level class="para1" eId="section-40-d"><num>(d)</num><content><p>regulation 80C of the European Public Limited-Liability Company Regulations 2004 (S.I. 2004/2326) (notice of change in members of the supervisory organ);</p></content></level><level class="para1" eId="section-40-e"><num>(e)</num><content><p>the following sections of the Companies Act 2006—</p><blockList class="unordered none" ukl:Name="UnorderedList" ukl:Decoration="none"><item><p>section 87 (notice of change of address of registered office);</p></item><item><p>section 114 (notice of place where register of members is kept);</p></item><item><p>section 162 (notice of place where register of directors is kept);</p></item><item><p>section 167 (notice of change in directors etc);</p></item><item><p>section 275 (notice of place where register of secretaries is kept);</p></item><item><p>section 276 (notice of change in secretaries etc);</p></item><item><p>section 442 (period allowed for filing accounts);</p></item><item><p>section 790M (register of people with significant control);</p></item><item><p>section 790N (notice of place where PSC register is kept);</p></item><item><p>section 790VA (notice of change to the PSC register);</p></item><item><p>section 853A(1) (confirmation statements);</p></item><item><p>section 859A (registration of charge);</p></item><item><p>section 859B (registration of charge contained in debentures);</p></item><item><p>section 859Q (notice of place where copies of instruments creating charges are kept);</p></item></blockList></content></level><level class="para1" eId="section-40-f"><num>(f)</num><content><p>the following provisions of the Scottish Partnerships (Register of People with Significant Control) Regulations 2017 (S.I. 2017/694)—</p><blockList class="unordered none" ukl:Name="UnorderedList" ukl:Decoration="none"><item><p>regulation 7 (notice of change to the registration information);</p></item><item><p>regulation 8 (notice of ceasing to be a Scottish qualifying partnership);</p></item><item><p>the provisions of Part 5 (duties to deliver information);</p></item><item><p>regulation 35 (confirmation statements).</p></item></blockList></content></level></section>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-40-a"><num>(a)</num><content><p>section 9 of the Limited Partnerships Act 1907 (registration of changes to a limited partnership);</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-40-b"><num>(b)</num><content><p>section 466 of the Companies Act 1985 (registration of alteration to a floating charge);</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-40-c"><num>(c)</num><content><p>section 9 of the Limited Liability Partnerships Act 2000 (notice of membership changes);</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-40-d"><num>(d)</num><content><p>regulation 80C of the European Public Limited-Liability Company Regulations 2004 (S.I. 2004/2326) (notice of change in members of the supervisory organ);</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" class="para1" eId="section-40-e"><num>(e)</num><content><p>the following sections of the Companies Act 2006—</p><blockList class="unordered none" ukl:Name="UnorderedList" ukl:Decoration="none"><item><p>section 87 (notice of change of address of registered office);</p></item><item><p>section 114 (notice of place where register of members is kept);</p></item><item><p>section 162 (notice of place where register of directors is kept);</p></item><item><p>section 167 (notice of change in directors etc);</p></item><item><p>section 275 (notice of place where register of secretaries is kept);</p></item><item><p>section 276 (notice of change in secretaries etc);</p></item><item><p>section 442 (period allowed for filing accounts);</p></item><item><p>section 790M (register of people with significant control);</p></item><item><p>section 790N (notice of place where PSC register is kept);</p></item><item><p>section 790VA (notice of change to the PSC register);</p></item><item><p>section 853A(1) (confirmation statements);</p></item><item><p>section 859A (registration of charge);</p></item><item><p>section 859B (registration of charge contained in debentures);</p></item><item><p>section 859Q (notice of place where copies of instruments creating charges are kept);</p></item></blockList></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" class="para1" eId="section-40-f"><num>(f)</num><content><p>the following provisions of the Scottish Partnerships (Register of People with Significant Control) Regulations 2017 (S.I. 2017/694)—</p><blockList class="unordered none" ukl:Name="UnorderedList" ukl:Decoration="none"><item><p>regulation 7 (notice of change to the registration information);</p></item><item><p>regulation 8 (notice of ceasing to be a Scottish qualifying partnership);</p></item><item><p>the provisions of Part 5 (duties to deliver information);</p></item><item><p>regulation 35 (confirmation statements).</p></item></blockList></content></level>
<hcontainer xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" name="crossheading" ukl:Name="Pblock" eId="crossheading-powers-to-change-periods"><heading><i>Powers to change periods</i></heading><section eId="section-41"><num>41</num><heading>Power to change duration of temporary provisions: Great Britain</heading><subsection eId="section-41-1"><num>(1)</num><intro><p>The Secretary of State may by regulations made by statutory instrument amend a relevant provision so as to—</p></intro><level class="para1" eId="section-41-1-a"><num>(a)</num><content><p>curtail the period for the time being specified in that provision, or</p></content></level><level class="para1" eId="section-41-1-b"><num>(b)</num><content><p>prolong that period by up to six months if the Secretary of State considers it reasonable to do so to mitigate an effect of coronavirus.</p></content></level></subsection><subsection eId="section-41-2"><num>(2)</num><intro><p>In this section—</p></intro><hcontainer name="definition"><content><p>“<term refersTo="#term-coronavirus" eId="term-coronavirus">coronavirus</term>” means severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2);</p></content></hcontainer><hcontainer name="definition"><intro><p>“<term refersTo="#term-relevant-provision" eId="term-relevant-provision">relevant provision</term>” means—</p></intro><level class="para1"><num>(a)</num><content><p>section 12(2),</p></content></level><level class="para1"><num>(b)</num><content><p>section 15(2),</p></content></level><level class="para1"><num>(c)</num><content><p>paragraph 1 of Schedule 4, or</p></content></level><level class="para1"><num>(d)</num><content><p><noteRef href="#key-d2c1cc9f26065cabe5eb8539a8769f20" uk:name="commentary" ukl:Name="CommentaryRef" class="commentary"/>...</p></content></level></hcontainer></subsection><subsection eId="section-41-3"><num>(3)</num><content><p>A statutory instrument containing regulations made under subsection (1)(a) is subject to annulment in pursuance of a resolution of either House of Parliament.</p></content></subsection><subsection eId="section-41-4"><num>(4)</num><content><p>A statutory instrument containing regulations made under subsection (1)(b) must be laid before Parliament as soon as reasonably practicable after being made.</p></content></subsection><subsection eId="section-41-5"><num>(5)</num><content><p>Subsection (4) does not apply if a draft of the statutory instrument has been laid before and approved by a resolution of each House of Parliament.</p></content></subsection><subsection eId="section-41-6"><num>(6)</num><content><p>Regulations contained in a statutory instrument laid before Parliament by virtue of subsection (4) cease to have effect at the end of the period of 40 days beginning with the day on which the instrument is made, unless during that period the instrument is approved by a resolution of each House of Parliament.</p></content></subsection><subsection eId="section-41-7"><num>(7)</num><intro><p>In calculating the period of 40 days, no account is to be taken of any time during which—</p></intro><level class="para1" eId="section-41-7-a"><num>(a)</num><content><p>Parliament is dissolved or prorogued, or</p></content></level><level class="para1" eId="section-41-7-b"><num>(b)</num><content><p>both Houses of Parliament are adjourned for more than 4 days.</p></content></level></subsection><subsection eId="section-41-8"><num>(8)</num><intro><p>Where regulations relating to any relevant provision cease to have effect as a result of subsection (6), the period specified in the relevant provision ends—</p></intro><level class="para1" eId="section-41-8-a"><num>(a)</num><content><p>at the time it would have ended under the relevant provision if the regulations had not been made, or</p></content></level><level class="para1" eId="section-41-8-b"><num>(b)</num><content><p>if later, at the end of the period of 40 days mentioned in subsection (6).</p></content></level></subsection><subsection eId="section-41-9"><num>(9)</num><content><p>Where regulations cease to have effect as a result of subsection (6) that does not prevent the making of new regulations.</p></content></subsection><subsection eId="section-41-10"><num>(10)</num><intro><p>Regulations under this section may make—</p></intro><level class="para1" eId="section-41-10-a"><num>(a)</num><content><p>different provision for the purposes of different relevant provisions;</p></content></level><level class="para1" eId="section-41-10-b"><num>(b)</num><content><p>consequential, transitional or transitory provision or savings.</p></content></level></subsection></section><section eId="section-42"><num>42</num><heading>Power to change duration of temporary provisions: Northern Ireland</heading><subsection eId="section-42-1"><num>(1)</num><intro><p>The Department may by regulations amend a relevant provision so as to—</p></intro><level class="para1" eId="section-42-1-a"><num>(a)</num><content><p>curtail the period for the time being specified in that provision, or</p></content></level><level class="para1" eId="section-42-1-b"><num>(b)</num><content><p>prolong that period by up to six months if the Department considers it reasonable to do so to mitigate an effect of coronavirus.</p></content></level></subsection><subsection eId="section-42-2"><num>(2)</num><intro><p>In this section—</p></intro><hcontainer name="definition"><content><p>“<term refersTo="#term-coronavirus" eId="term-coronavirus">coronavirus</term>” means severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2);</p></content></hcontainer><hcontainer name="definition"><intro><p>“<term refersTo="#term-relevant-provision" eId="term-relevant-provision">relevant provision</term>” means—</p></intro><level class="para1"><num>(a)</num><content><p>section 13(2),</p></content></level><level class="para1"><num>(b)</num><content><p>section 19(2),</p></content></level><level class="para1"><num>(c)</num><content><p>paragraph 1 of Schedule 8, or</p></content></level><level class="para1"><num>(d)</num><content><p><noteRef href="#M_F_564366ae-9f60-485f-98d3-e95a60bda28f" uk:name="commentary" ukl:Name="CommentaryRef" class="commentary"/>...</p></content></level></hcontainer></subsection><subsection eId="section-42-3"><num>(3)</num><content><p>Regulations under subsection (1)(a) are subject to negative resolution within the meaning of section 41(6) of the Interpretation Act (Northern Ireland) 1954 (c. 33 (N.I.)).</p></content></subsection><subsection eId="section-42-4"><num>(4)</num><content><p>Regulations under subsection (1)(b) must be laid before the Assembly as soon as reasonably practicable after being made.</p></content></subsection><subsection eId="section-42-5"><num>(5)</num><content><p>Subsection (4) does not apply if a draft of the regulations has been laid before, and approved by a resolution of, the Assembly.</p></content></subsection><subsection eId="section-42-6"><num>(6)</num><content><p>Section 41(3) of the Interpretation Act (Northern Ireland) 1954 applies for the purposes of subsection (5) in relation to the laying of a draft as it applies in relation to the laying of a statutory document under an enactment.</p></content></subsection><subsection eId="section-42-7"><num>(7)</num><content><p>Regulations laid before the Assembly by virtue of subsection (4) cease to have effect at the end of the period of 40 days beginning with the day on which the regulations are made, unless during that period the regulations are approved by a resolution of the Assembly.</p></content></subsection><subsection eId="section-42-8"><num>(8)</num><intro><p>In calculating the period of 40 days, no account is to be taken of any time during which the Assembly is—</p></intro><level class="para1" eId="section-42-8-a"><num>(a)</num><content><p>dissolved,</p></content></level><level class="para1" eId="section-42-8-b"><num>(b)</num><content><p>in recess for more than 4 days, or</p></content></level><level class="para1" eId="section-42-8-c"><num>(c)</num><content><p>adjourned for more than 6 days.</p></content></level></subsection><subsection eId="section-42-9"><num>(9)</num><intro><p>Where regulations cease to have effect as a result of subsection (7), the period specified in the relevant provision ends—</p></intro><level class="para1" eId="section-42-9-a"><num>(a)</num><content><p>at the time it would have ended under the relevant provision if the regulations had not been made, or</p></content></level><level class="para1" eId="section-42-9-b"><num>(b)</num><content><p>if later, at the end of the period of 40 days mentioned in subsection (7).</p></content></level></subsection><subsection eId="section-42-10"><num>(10)</num><content><p>Where regulations cease to have effect as a result of subsection (7) that does not prevent the making of new regulations.</p></content></subsection><subsection eId="section-42-11"><num>(11)</num><intro><p>Regulations under this section may make—</p></intro><level class="para1" eId="section-42-11-a"><num>(a)</num><content><p>different provision for the purposes of different relevant provisions;</p></content></level><level class="para1" eId="section-42-11-b"><num>(b)</num><content><p>consequential, transitional or transitory provision or savings.</p></content></level></subsection><subsection eId="section-42-12"><num>(12)</num><content><p>The power of the Department to make regulations under this section is exercisable by statutory rule for the purposes of the Statutory Rules (Northern Ireland) Order 1979 (S.I. 1979/1573 (N.I. 12)).</p></content></subsection><subsection eId="section-42-13"><num>(13)</num><intro><p>In this section—</p></intro><hcontainer name="definition"><content><p>“<term refersTo="#term-the-assembly" eId="term-the-assembly">the Assembly</term>” means the Northern Ireland Assembly;</p></content></hcontainer><hcontainer name="definition"><content><p>“<term refersTo="#term-the-department" eId="term-the-department">the Department</term>” means the Department for the Economy in Northern Ireland.</p></content></hcontainer></subsection></section></hcontainer>
<section xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" eId="section-41"><num>41</num><heading>Power to change duration of temporary provisions: Great Britain</heading><subsection eId="section-41-1"><num>(1)</num><intro><p>The Secretary of State may by regulations made by statutory instrument amend a relevant provision so as to—</p></intro><level class="para1" eId="section-41-1-a"><num>(a)</num><content><p>curtail the period for the time being specified in that provision, or</p></content></level><level class="para1" eId="section-41-1-b"><num>(b)</num><content><p>prolong that period by up to six months if the Secretary of State considers it reasonable to do so to mitigate an effect of coronavirus.</p></content></level></subsection><subsection eId="section-41-2"><num>(2)</num><intro><p>In this section—</p></intro><hcontainer name="definition"><content><p>“<term refersTo="#term-coronavirus" eId="term-coronavirus">coronavirus</term>” means severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2);</p></content></hcontainer><hcontainer name="definition"><intro><p>“<term refersTo="#term-relevant-provision" eId="term-relevant-provision">relevant provision</term>” means—</p></intro><level class="para1"><num>(a)</num><content><p>section 12(2),</p></content></level><level class="para1"><num>(b)</num><content><p>section 15(2),</p></content></level><level class="para1"><num>(c)</num><content><p>paragraph 1 of Schedule 4, or</p></content></level><level class="para1"><num>(d)</num><content><p><noteRef href="#key-d2c1cc9f26065cabe5eb8539a8769f20" uk:name="commentary" ukl:Name="CommentaryRef" class="commentary"/>...</p></content></level></hcontainer></subsection><subsection eId="section-41-3"><num>(3)</num><content><p>A statutory instrument containing regulations made under subsection (1)(a) is subject to annulment in pursuance of a resolution of either House of Parliament.</p></content></subsection><subsection eId="section-41-4"><num>(4)</num><content><p>A statutory instrument containing regulations made under subsection (1)(b) must be laid before Parliament as soon as reasonably practicable after being made.</p></content></subsection><subsection eId="section-41-5"><num>(5)</num><content><p>Subsection (4) does not apply if a draft of the statutory instrument has been laid before and approved by a resolution of each House of Parliament.</p></content></subsection><subsection eId="section-41-6"><num>(6)</num><content><p>Regulations contained in a statutory instrument laid before Parliament by virtue of subsection (4) cease to have effect at the end of the period of 40 days beginning with the day on which the instrument is made, unless during that period the instrument is approved by a resolution of each House of Parliament.</p></content></subsection><subsection eId="section-41-7"><num>(7)</num><intro><p>In calculating the period of 40 days, no account is to be taken of any time during which—</p></intro><level class="para1" eId="section-41-7-a"><num>(a)</num><content><p>Parliament is dissolved or prorogued, or</p></content></level><level class="para1" eId="section-41-7-b"><num>(b)</num><content><p>both Houses of Parliament are adjourned for more than 4 days.</p></content></level></subsection><subsection eId="section-41-8"><num>(8)</num><intro><p>Where regulations relating to any relevant provision cease to have effect as a result of subsection (6), the period specified in the relevant provision ends—</p></intro><level class="para1" eId="section-41-8-a"><num>(a)</num><content><p>at the time it would have ended under the relevant provision if the regulations had not been made, or</p></content></level><level class="para1" eId="section-41-8-b"><num>(b)</num><content><p>if later, at the end of the period of 40 days mentioned in subsection (6).</p></content></level></subsection><subsection eId="section-41-9"><num>(9)</num><content><p>Where regulations cease to have effect as a result of subsection (6) that does not prevent the making of new regulations.</p></content></subsection><subsection eId="section-41-10"><num>(10)</num><intro><p>Regulations under this section may make—</p></intro><level class="para1" eId="section-41-10-a"><num>(a)</num><content><p>different provision for the purposes of different relevant provisions;</p></content></level><level class="para1" eId="section-41-10-b"><num>(b)</num><content><p>consequential, transitional or transitory provision or savings.</p></content></level></subsection></section>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-41-1"><num>(1)</num><intro><p>The Secretary of State may by regulations made by statutory instrument amend a relevant provision so as to—</p></intro><level class="para1" eId="section-41-1-a"><num>(a)</num><content><p>curtail the period for the time being specified in that provision, or</p></content></level><level class="para1" eId="section-41-1-b"><num>(b)</num><content><p>prolong that period by up to six months if the Secretary of State considers it reasonable to do so to mitigate an effect of coronavirus.</p></content></level></subsection>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-41-1-a"><num>(a)</num><content><p>curtail the period for the time being specified in that provision, or</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-41-1-b"><num>(b)</num><content><p>prolong that period by up to six months if the Secretary of State considers it reasonable to do so to mitigate an effect of coronavirus.</p></content></level>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" eId="section-41-2"><num>(2)</num><intro><p>In this section—</p></intro><hcontainer name="definition"><content><p>“<term refersTo="#term-coronavirus" eId="term-coronavirus">coronavirus</term>” means severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2);</p></content></hcontainer><hcontainer name="definition"><intro><p>“<term refersTo="#term-relevant-provision" eId="term-relevant-provision">relevant provision</term>” means—</p></intro><level class="para1"><num>(a)</num><content><p>section 12(2),</p></content></level><level class="para1"><num>(b)</num><content><p>section 15(2),</p></content></level><level class="para1"><num>(c)</num><content><p>paragraph 1 of Schedule 4, or</p></content></level><level class="para1"><num>(d)</num><content><p><noteRef href="#key-d2c1cc9f26065cabe5eb8539a8769f20" uk:name="commentary" ukl:Name="CommentaryRef" class="commentary"/>...</p></content></level></hcontainer></subsection>
<hcontainer xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" name="definition"><intro><p>“<term refersTo="#term-relevant-provision" eId="term-relevant-provision">relevant provision</term>” means—</p></intro><level class="para1"><num>(a)</num><content><p>section 12(2),</p></content></level><level class="para1"><num>(b)</num><content><p>section 15(2),</p></content></level><level class="para1"><num>(c)</num><content><p>paragraph 1 of Schedule 4, or</p></content></level><level class="para1"><num>(d)</num><content><p><noteRef href="#key-d2c1cc9f26065cabe5eb8539a8769f20" uk:name="commentary" ukl:Name="CommentaryRef" class="commentary"/>...</p></content></level></hcontainer>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-41-3"><num>(3)</num><content><p>A statutory instrument containing regulations made under subsection (1)(a) is subject to annulment in pursuance of a resolution of either House of Parliament.</p></content></subsection>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-41-4"><num>(4)</num><content><p>A statutory instrument containing regulations made under subsection (1)(b) must be laid before Parliament as soon as reasonably practicable after being made.</p></content></subsection>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-41-5"><num>(5)</num><content><p>Subsection (4) does not apply if a draft of the statutory instrument has been laid before and approved by a resolution of each House of Parliament.</p></content></subsection>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-41-6"><num>(6)</num><content><p>Regulations contained in a statutory instrument laid before Parliament by virtue of subsection (4) cease to have effect at the end of the period of 40 days beginning with the day on which the instrument is made, unless during that period the instrument is approved by a resolution of each House of Parliament.</p></content></subsection>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-41-7"><num>(7)</num><intro><p>In calculating the period of 40 days, no account is to be taken of any time during which—</p></intro><level class="para1" eId="section-41-7-a"><num>(a)</num><content><p>Parliament is dissolved or prorogued, or</p></content></level><level class="para1" eId="section-41-7-b"><num>(b)</num><content><p>both Houses of Parliament are adjourned for more than 4 days.</p></content></level></subsection>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-41-7-a"><num>(a)</num><content><p>Parliament is dissolved or prorogued, or</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-41-7-b"><num>(b)</num><content><p>both Houses of Parliament are adjourned for more than 4 days.</p></content></level>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-41-8"><num>(8)</num><intro><p>Where regulations relating to any relevant provision cease to have effect as a result of subsection (6), the period specified in the relevant provision ends—</p></intro><level class="para1" eId="section-41-8-a"><num>(a)</num><content><p>at the time it would have ended under the relevant provision if the regulations had not been made, or</p></content></level><level class="para1" eId="section-41-8-b"><num>(b)</num><content><p>if later, at the end of the period of 40 days mentioned in subsection (6).</p></content></level></subsection>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-41-8-a"><num>(a)</num><content><p>at the time it would have ended under the relevant provision if the regulations had not been made, or</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-41-8-b"><num>(b)</num><content><p>if later, at the end of the period of 40 days mentioned in subsection (6).</p></content></level>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-41-9"><num>(9)</num><content><p>Where regulations cease to have effect as a result of subsection (6) that does not prevent the making of new regulations.</p></content></subsection>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-41-10"><num>(10)</num><intro><p>Regulations under this section may make—</p></intro><level class="para1" eId="section-41-10-a"><num>(a)</num><content><p>different provision for the purposes of different relevant provisions;</p></content></level><level class="para1" eId="section-41-10-b"><num>(b)</num><content><p>consequential, transitional or transitory provision or savings.</p></content></level></subsection>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-41-10-a"><num>(a)</num><content><p>different provision for the purposes of different relevant provisions;</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-41-10-b"><num>(b)</num><content><p>consequential, transitional or transitory provision or savings.</p></content></level>
<section xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" eId="section-42"><num>42</num><heading>Power to change duration of temporary provisions: Northern Ireland</heading><subsection eId="section-42-1"><num>(1)</num><intro><p>The Department may by regulations amend a relevant provision so as to—</p></intro><level class="para1" eId="section-42-1-a"><num>(a)</num><content><p>curtail the period for the time being specified in that provision, or</p></content></level><level class="para1" eId="section-42-1-b"><num>(b)</num><content><p>prolong that period by up to six months if the Department considers it reasonable to do so to mitigate an effect of coronavirus.</p></content></level></subsection><subsection eId="section-42-2"><num>(2)</num><intro><p>In this section—</p></intro><hcontainer name="definition"><content><p>“<term refersTo="#term-coronavirus" eId="term-coronavirus">coronavirus</term>” means severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2);</p></content></hcontainer><hcontainer name="definition"><intro><p>“<term refersTo="#term-relevant-provision" eId="term-relevant-provision">relevant provision</term>” means—</p></intro><level class="para1"><num>(a)</num><content><p>section 13(2),</p></content></level><level class="para1"><num>(b)</num><content><p>section 19(2),</p></content></level><level class="para1"><num>(c)</num><content><p>paragraph 1 of Schedule 8, or</p></content></level><level class="para1"><num>(d)</num><content><p><noteRef href="#M_F_564366ae-9f60-485f-98d3-e95a60bda28f" uk:name="commentary" ukl:Name="CommentaryRef" class="commentary"/>...</p></content></level></hcontainer></subsection><subsection eId="section-42-3"><num>(3)</num><content><p>Regulations under subsection (1)(a) are subject to negative resolution within the meaning of section 41(6) of the Interpretation Act (Northern Ireland) 1954 (c. 33 (N.I.)).</p></content></subsection><subsection eId="section-42-4"><num>(4)</num><content><p>Regulations under subsection (1)(b) must be laid before the Assembly as soon as reasonably practicable after being made.</p></content></subsection><subsection eId="section-42-5"><num>(5)</num><content><p>Subsection (4) does not apply if a draft of the regulations has been laid before, and approved by a resolution of, the Assembly.</p></content></subsection><subsection eId="section-42-6"><num>(6)</num><content><p>Section 41(3) of the Interpretation Act (Northern Ireland) 1954 applies for the purposes of subsection (5) in relation to the laying of a draft as it applies in relation to the laying of a statutory document under an enactment.</p></content></subsection><subsection eId="section-42-7"><num>(7)</num><content><p>Regulations laid before the Assembly by virtue of subsection (4) cease to have effect at the end of the period of 40 days beginning with the day on which the regulations are made, unless during that period the regulations are approved by a resolution of the Assembly.</p></content></subsection><subsection eId="section-42-8"><num>(8)</num><intro><p>In calculating the period of 40 days, no account is to be taken of any time during which the Assembly is—</p></intro><level class="para1" eId="section-42-8-a"><num>(a)</num><content><p>dissolved,</p></content></level><level class="para1" eId="section-42-8-b"><num>(b)</num><content><p>in recess for more than 4 days, or</p></content></level><level class="para1" eId="section-42-8-c"><num>(c)</num><content><p>adjourned for more than 6 days.</p></content></level></subsection><subsection eId="section-42-9"><num>(9)</num><intro><p>Where regulations cease to have effect as a result of subsection (7), the period specified in the relevant provision ends—</p></intro><level class="para1" eId="section-42-9-a"><num>(a)</num><content><p>at the time it would have ended under the relevant provision if the regulations had not been made, or</p></content></level><level class="para1" eId="section-42-9-b"><num>(b)</num><content><p>if later, at the end of the period of 40 days mentioned in subsection (7).</p></content></level></subsection><subsection eId="section-42-10"><num>(10)</num><content><p>Where regulations cease to have effect as a result of subsection (7) that does not prevent the making of new regulations.</p></content></subsection><subsection eId="section-42-11"><num>(11)</num><intro><p>Regulations under this section may make—</p></intro><level class="para1" eId="section-42-11-a"><num>(a)</num><content><p>different provision for the purposes of different relevant provisions;</p></content></level><level class="para1" eId="section-42-11-b"><num>(b)</num><content><p>consequential, transitional or transitory provision or savings.</p></content></level></subsection><subsection eId="section-42-12"><num>(12)</num><content><p>The power of the Department to make regulations under this section is exercisable by statutory rule for the purposes of the Statutory Rules (Northern Ireland) Order 1979 (S.I. 1979/1573 (N.I. 12)).</p></content></subsection><subsection eId="section-42-13"><num>(13)</num><intro><p>In this section—</p></intro><hcontainer name="definition"><content><p>“<term refersTo="#term-the-assembly" eId="term-the-assembly">the Assembly</term>” means the Northern Ireland Assembly;</p></content></hcontainer><hcontainer name="definition"><content><p>“<term refersTo="#term-the-department" eId="term-the-department">the Department</term>” means the Department for the Economy in Northern Ireland.</p></content></hcontainer></subsection></section>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-42-1"><num>(1)</num><intro><p>The Department may by regulations amend a relevant provision so as to—</p></intro><level class="para1" eId="section-42-1-a"><num>(a)</num><content><p>curtail the period for the time being specified in that provision, or</p></content></level><level class="para1" eId="section-42-1-b"><num>(b)</num><content><p>prolong that period by up to six months if the Department considers it reasonable to do so to mitigate an effect of coronavirus.</p></content></level></subsection>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-42-1-a"><num>(a)</num><content><p>curtail the period for the time being specified in that provision, or</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-42-1-b"><num>(b)</num><content><p>prolong that period by up to six months if the Department considers it reasonable to do so to mitigate an effect of coronavirus.</p></content></level>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" eId="section-42-2"><num>(2)</num><intro><p>In this section—</p></intro><hcontainer name="definition"><content><p>“<term refersTo="#term-coronavirus" eId="term-coronavirus">coronavirus</term>” means severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2);</p></content></hcontainer><hcontainer name="definition"><intro><p>“<term refersTo="#term-relevant-provision" eId="term-relevant-provision">relevant provision</term>” means—</p></intro><level class="para1"><num>(a)</num><content><p>section 13(2),</p></content></level><level class="para1"><num>(b)</num><content><p>section 19(2),</p></content></level><level class="para1"><num>(c)</num><content><p>paragraph 1 of Schedule 8, or</p></content></level><level class="para1"><num>(d)</num><content><p><noteRef href="#M_F_564366ae-9f60-485f-98d3-e95a60bda28f" uk:name="commentary" ukl:Name="CommentaryRef" class="commentary"/>...</p></content></level></hcontainer></subsection>
<hcontainer xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" name="definition"><intro><p>“<term refersTo="#term-relevant-provision" eId="term-relevant-provision">relevant provision</term>” means—</p></intro><level class="para1"><num>(a)</num><content><p>section 13(2),</p></content></level><level class="para1"><num>(b)</num><content><p>section 19(2),</p></content></level><level class="para1"><num>(c)</num><content><p>paragraph 1 of Schedule 8, or</p></content></level><level class="para1"><num>(d)</num><content><p><noteRef href="#M_F_564366ae-9f60-485f-98d3-e95a60bda28f" uk:name="commentary" ukl:Name="CommentaryRef" class="commentary"/>...</p></content></level></hcontainer>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-4-paragraph-8" class="schProv1"><num>8</num><subparagraph eId="schedule-4-paragraph-8-1"><num>(1)</num><content><p>This paragraph applies in relation to a moratorium that comes into force during the relevant period.</p></content></subparagraph><subparagraph eId="schedule-4-paragraph-8-2"><num>(2)</num><content><p>For the purposes of extending the moratorium under section <ref href="#d25e841">A10</ref> or <ref href="#d25e920">A11</ref> of the Insolvency Act 1986, subsection <ref href="#d25e884">(1)(d)</ref> of that section 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”.</p></content></subparagraph><subparagraph eId="schedule-4-paragraph-8-3"><num>(3)</num><content><p>In relation to an application under section <ref href="#d25e1090">A13</ref> of the Insolvency Act 1986 that the moratorium be extended, subsection <ref href="#d25e1147">(2)(d)</ref> of that section 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”.</p></content></subparagraph></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-4-paragraph-11" class="schProv1"><num>11</num><content><p>In the modifications made by this Part of this Schedule “coronavirus” means severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2).</p></content></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-8-paragraph-1" class="schProv1"><num>1</num><intro><p>In this Schedule “relevant period” means the period which—</p></intro><level class="para1" eId="schedule-8-paragraph-1-a"><num>(a)</num><content><p>begins with the day on which this Schedule comes into force, and</p></content></level><level class="para1" eId="schedule-8-paragraph-1-b"><num>(b)</num><content><p>ends with 30 September 2020.</p></content></level></paragraph>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="schedule-8-paragraph-1-a"><num>(a)</num><content><p>begins with the day on which this Schedule comes into force, and</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="schedule-8-paragraph-1-b"><num>(b)</num><content><p>ends with 30 September 2020.</p></content></level>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-8-paragraph-49" class="schProv1"><num>49</num><subparagraph eId="schedule-8-paragraph-49-1"><num>(1)</num><content><p>This paragraph sets out how an application, notice or statement is to be authenticated for the purposes of this Part of this Schedule.</p></content></subparagraph><subparagraph eId="schedule-8-paragraph-49-2"><num>(2)</num><intro><p>An application, notice or statement in electronic form is authenticated—</p></intro><level class="para1" eId="schedule-8-paragraph-49-2-a"><num>(a)</num><content><p>if the identity of the sender is confirmed in a manner specified by the recipient, or</p></content></level><level class="para1" eId="schedule-8-paragraph-49-2-b"><num>(b)</num><content><p>where the recipient has not so specified, if the communication contains or is accompanied by a statement of the identity of the sender and the recipient has no reason to doubt the truth of that statement.</p></content></level></subparagraph><subparagraph eId="schedule-8-paragraph-49-3"><num>(3)</num><content><p>An application, notice or statement in hard-copy form is authenticated if it is signed.</p></content></subparagraph><subparagraph eId="schedule-8-paragraph-49-4"><num>(4)</num><intro><p>If an application, notice or statement is authenticated by the signature of an individual on behalf of—</p></intro><level class="para1" eId="schedule-8-paragraph-49-4-a"><num>(a)</num><content><p>a body of persons, the document must also state the position of that individual in relation to the body;</p></content></level><level class="para1" eId="schedule-8-paragraph-49-4-b"><num>(b)</num><content><p>a body corporate of which the individual is the sole member, the document must also state that fact.</p></content></level></subparagraph></paragraph>
<paragraph xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="schedule-8-paragraph-52" class="schProv1"><num>52</num><intro><p>Where a provision of this Part of this Schedule requires a document to contain contact details of a monitor or other office-holder, the following information must be given—</p></intro><level class="para1" eId="schedule-8-paragraph-52-a"><num>(a)</num><content><p>a postal address for the monitor or office-holder, and</p></content></level><level class="para1" eId="schedule-8-paragraph-52-b"><num>(b)</num><content><p>either an email address, or a telephone number, through which the monitor may be contacted.</p></content></level></paragraph>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="schedule-8-paragraph-52-a"><num>(a)</num><content><p>a postal address for the monitor or office-holder, and</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="schedule-8-paragraph-52-b"><num>(b)</num><content><p>either an email address, or a telephone number, through which the monitor may be contacted.</p></content></level>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-42-3"><num>(3)</num><content><p>Regulations under subsection (1)(a) are subject to negative resolution within the meaning of section 41(6) of the Interpretation Act (Northern Ireland) 1954 (c. 33 (N.I.)).</p></content></subsection>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-42-4"><num>(4)</num><content><p>Regulations under subsection (1)(b) must be laid before the Assembly as soon as reasonably practicable after being made.</p></content></subsection>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-42-5"><num>(5)</num><content><p>Subsection (4) does not apply if a draft of the regulations has been laid before, and approved by a resolution of, the Assembly.</p></content></subsection>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-42-6"><num>(6)</num><content><p>Section 41(3) of the Interpretation Act (Northern Ireland) 1954 applies for the purposes of subsection (5) in relation to the laying of a draft as it applies in relation to the laying of a statutory document under an enactment.</p></content></subsection>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-42-7"><num>(7)</num><content><p>Regulations laid before the Assembly by virtue of subsection (4) cease to have effect at the end of the period of 40 days beginning with the day on which the regulations are made, unless during that period the regulations are approved by a resolution of the Assembly.</p></content></subsection>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-42-8"><num>(8)</num><intro><p>In calculating the period of 40 days, no account is to be taken of any time during which the Assembly is—</p></intro><level class="para1" eId="section-42-8-a"><num>(a)</num><content><p>dissolved,</p></content></level><level class="para1" eId="section-42-8-b"><num>(b)</num><content><p>in recess for more than 4 days, or</p></content></level><level class="para1" eId="section-42-8-c"><num>(c)</num><content><p>adjourned for more than 6 days.</p></content></level></subsection>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-42-8-a"><num>(a)</num><content><p>dissolved,</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-42-8-b"><num>(b)</num><content><p>in recess for more than 4 days, or</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-42-8-c"><num>(c)</num><content><p>adjourned for more than 6 days.</p></content></level>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-42-9"><num>(9)</num><intro><p>Where regulations cease to have effect as a result of subsection (7), the period specified in the relevant provision ends—</p></intro><level class="para1" eId="section-42-9-a"><num>(a)</num><content><p>at the time it would have ended under the relevant provision if the regulations had not been made, or</p></content></level><level class="para1" eId="section-42-9-b"><num>(b)</num><content><p>if later, at the end of the period of 40 days mentioned in subsection (7).</p></content></level></subsection>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-42-9-a"><num>(a)</num><content><p>at the time it would have ended under the relevant provision if the regulations had not been made, or</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-42-9-b"><num>(b)</num><content><p>if later, at the end of the period of 40 days mentioned in subsection (7).</p></content></level>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-42-10"><num>(10)</num><content><p>Where regulations cease to have effect as a result of subsection (7) that does not prevent the making of new regulations.</p></content></subsection>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-42-11"><num>(11)</num><intro><p>Regulations under this section may make—</p></intro><level class="para1" eId="section-42-11-a"><num>(a)</num><content><p>different provision for the purposes of different relevant provisions;</p></content></level><level class="para1" eId="section-42-11-b"><num>(b)</num><content><p>consequential, transitional or transitory provision or savings.</p></content></level></subsection>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-42-11-a"><num>(a)</num><content><p>different provision for the purposes of different relevant provisions;</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-42-11-b"><num>(b)</num><content><p>consequential, transitional or transitory provision or savings.</p></content></level>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-42-12"><num>(12)</num><content><p>The power of the Department to make regulations under this section is exercisable by statutory rule for the purposes of the Statutory Rules (Northern Ireland) Order 1979 (S.I. 1979/1573 (N.I. 12)).</p></content></subsection>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-42-13"><num>(13)</num><intro><p>In this section—</p></intro><hcontainer name="definition"><content><p>“<term refersTo="#term-the-assembly" eId="term-the-assembly">the Assembly</term>” means the Northern Ireland Assembly;</p></content></hcontainer><hcontainer name="definition"><content><p>“<term refersTo="#term-the-department" eId="term-the-department">the Department</term>” means the Department for the Economy in Northern Ireland.</p></content></hcontainer></subsection>
<hcontainer xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" name="crossheading" ukl:Name="Pblock" eId="crossheading-implementation-of-insolvency-measures"><heading><i>Implementation of insolvency measures</i></heading><section eId="section-43"><num>43</num><heading>Modified procedure for regulations of the Secretary of State</heading><subsection eId="section-43-1"><num>(1)</num><content><p>During the period of six months beginning with the day on which this section comes into force, any relevant provision that may be made by the Secretary of State by regulations that are subject to the affirmative resolution procedure may be made by regulations that are subject to the made affirmative procedure.</p></content></subsection><subsection eId="section-43-2"><num>(2)</num><intro><p>In subsection (1) “<term refersTo="#term-relevant-provision" eId="term-relevant-provision">relevant provision</term>” means—</p></intro><level class="para1" eId="section-43-2-a"><num>(a)</num><content><p>provision under section A50(1) or (4) of the Insolvency Act 1986 (power to modify moratorium provisions in relation to certain companies);</p></content></level><level class="para1" eId="section-43-2-b"><num>(b)</num><content><p>provision under section A51(1) of the Insolvency Act 1986 (moratorium: power to make provision in connection with pension schemes);</p></content></level><level class="para1" eId="section-43-2-c"><num>(c)</num><content><p>provision under paragraph 20 of Schedule ZA1 to the Insolvency Act 1986 to exclude private registered providers of social housing from being eligible companies for the purposes of Part A1 of that Act;</p></content></level><level class="para1" eId="section-43-2-d"><num>(d)</num><content><p>provision under section 14 or 16 of the Limited Liability Partnerships Act 2000 (insolvency etc and power to make consequential amendments) to the extent that the provision is made in connection with the application of Part A1 of the Insolvency Act 1986 to limited liability partnerships that are registered providers of social housing;</p></content></level><level class="para1" eId="section-43-2-e"><num>(e)</num><content><p>provision under section 245 of the Charities Act 2011 (insolvency etc of charitable incorporated organisations etc) to the extent that the provision applies, or is otherwise made in connection with, the new insolvency measures.</p></content></level></subsection><subsection eId="section-43-3"><num>(3)</num><content><p>During the period of six months beginning with the day on which this section comes into force, the consultation duty in section 348(4) of the Charities Act 2011 does not apply in relation to regulations under section 245 of that Act to the extent that they contain provision which applies, or is otherwise made in connection with, the new insolvency measures.</p></content></subsection><subsection eId="section-43-4"><num>(4)</num><intro><p>In subsections (2) and (3) “<term refersTo="#term-the-new-insolvency-measures" eId="term-the-new-insolvency-measures">the new insolvency measures</term>” means the provision made by—</p></intro><level class="para1" eId="section-43-4-a"><num>(a)</num><content><p>sections 1 to 3 and Schedules 1 to 4 (moratorium);</p></content></level><level class="para1" eId="section-43-4-b"><num>(b)</num><content><p>sections 14 and 15 and Schedule 12 (termination clauses in supply contracts).</p></content></level></subsection><subsection eId="section-43-5"><num>(5)</num><intro><p>For the purposes of this section —</p></intro><level class="para1" eId="section-43-5-a"><num>(a)</num><content><p>“<term refersTo="#term-regulations-that-are-subject-to-the-affirmative-resolution-procedure" eId="term-regulations-that-are-subject-to-the-affirmative-resolution-procedure">regulations that are subject to the affirmative resolution procedure</term>” means regulations that may not be made unless a draft of the statutory instrument containing them has been laid before and approved by a resolution of each House of Parliament;</p></content></level><level class="para1" eId="section-43-5-b"><num>(b)</num><intro><p>“<term refersTo="#term-regulations-that-are-subject-to-the-made-affirmative-procedure" eId="term-regulations-that-are-subject-to-the-made-affirmative-procedure">regulations that are subject to the made affirmative procedure</term>” means regulations that—</p></intro><level class="para2" eId="section-43-5-b-i"><num>(i)</num><content><p>are contained in a statutory instrument that must be laid before Parliament as soon as reasonably practicable after being made, and</p></content></level><level class="para2" eId="section-43-5-b-ii"><num>(ii)</num><content><p>cease to have effect at the end of the period of 40 days beginning with the day on which the instrument is made, unless during that period the instrument is approved by a resolution of each House of Parliament.</p></content></level></level></subsection><subsection eId="section-43-6"><num>(6)</num><intro><p>In calculating the period of 40 days mentioned in subsection (5)(b)(ii), no account is to be taken of any time during which—</p></intro><level class="para1" eId="section-43-6-a"><num>(a)</num><content><p>Parliament is dissolved or prorogued, or</p></content></level><level class="para1" eId="section-43-6-b"><num>(b)</num><content><p>both Houses of Parliament are adjourned for more than 4 days.</p></content></level></subsection><subsection eId="section-43-7"><num>(7)</num><intro><p>Where by virtue of this section the Secretary of State makes regulations that are subject to the made affirmative procedure and the regulations cease to have effect because they are not approved within the period mentioned in subsection (5)(b)(ii), the fact that the regulations cease to have effect does not—</p></intro><level class="para1" eId="section-43-7-a"><num>(a)</num><content><p>affect anything previously done under or by virtue of the regulations, or</p></content></level><level class="para1" eId="section-43-7-b"><num>(b)</num><content><p>prevent the making of new regulations.</p></content></level></subsection></section><section eId="section-44"><num>44</num><heading>Modified procedure for regulations of the Welsh Ministers</heading><subsection eId="section-44-1"><num>(1)</num><content><p>During the period of six months beginning with the day on which this section comes into force, any relevant provision that may be made by the Welsh Ministers by regulations that are subject to the affirmative resolution procedure may be made by regulations that are subject to the made affirmative procedure.</p></content></subsection><subsection eId="section-44-2"><num>(2)</num><intro><p>In subsection (1) “<term refersTo="#term-relevant-provision" eId="term-relevant-provision">relevant provision</term>” means—</p></intro><level class="para1" eId="section-44-2-a"><num>(a)</num><content><p>provision under section A50(2) of the Insolvency Act 1986 (power to modify moratorium provisions in relation to certain companies);</p></content></level><level class="para1" eId="section-44-2-b"><num>(b)</num><content><p>provision under paragraph 21 of Schedule ZA1 to the Insolvency Act 1986 (exclusion of registered social landlords from eligibility under Part A1 of that Act);</p></content></level><level class="para1" eId="section-44-2-c"><num>(c)</num><content><p>provision under section 247A of the Charities Act 2011 (regulations about moratoriums for charitable incorporated organisations that are registered social landlords).</p></content></level></subsection><subsection eId="section-44-3"><num>(3)</num><content><p>During the period of six months beginning with the day on which this section comes into force, the consultation duty in section 247A(6) of the Charities Act 2011 does not apply in relation to regulations under section 247A of that Act.</p></content></subsection><subsection eId="section-44-4"><num>(4)</num><intro><p>For the purposes of this section —</p></intro><level class="para1" eId="section-44-4-a"><num>(a)</num><content><p>“<term refersTo="#term-regulations-that-are-subject-to-the-affirmative-resolution-procedure" eId="term-regulations-that-are-subject-to-the-affirmative-resolution-procedure">regulations that are subject to the affirmative resolution procedure</term>” means regulations that may not be made unless a draft of the statutory instrument containing them has been laid before and approved by a resolution of Senedd Cymru;</p></content></level><level class="para1" eId="section-44-4-b"><num>(b)</num><intro><p>“<term refersTo="#term-regulations-that-are-subject-to-the-made-affirmative-procedure" eId="term-regulations-that-are-subject-to-the-made-affirmative-procedure">regulations that are subject to the made affirmative procedure</term>” means regulations that—</p></intro><level class="para2" eId="section-44-4-b-i"><num>(i)</num><content><p>are contained in a statutory instrument that must be laid before Senedd Cymru as soon as reasonably practicable after being made, and</p></content></level><level class="para2" eId="section-44-4-b-ii"><num>(ii)</num><content><p>cease to have effect at the end of the period of 40 days beginning with the day on which the instrument is made, unless during that period the instrument is approved by a resolution of Senedd Cymru.</p></content></level></level></subsection><subsection eId="section-44-5"><num>(5)</num><intro><p>In calculating the period of 40 days mentioned in subsection (4)(b)(ii), no account is to be taken of any time during which Senedd Cymru is—</p></intro><level class="para1" eId="section-44-5-a"><num>(a)</num><content><p>dissolved, or</p></content></level><level class="para1" eId="section-44-5-b"><num>(b)</num><content><p>in recess for more than 4 days.</p></content></level></subsection><subsection eId="section-44-6"><num>(6)</num><intro><p>Where by virtue of this section the Welsh Ministers make regulations that are subject to the made affirmative procedure and the regulations cease to have effect because they are not approved within the period mentioned in subsection (4)(b)(ii), the fact that the regulations cease to have effect does not—</p></intro><level class="para1" eId="section-44-6-a"><num>(a)</num><content><p>affect anything previously done under or by virtue of the regulations, or</p></content></level><level class="para1" eId="section-44-6-b"><num>(b)</num><content><p>prevent the making of new regulations.</p></content></level></subsection></section><section eId="section-45"><num>45</num><heading>Modified procedure for regulations of the Scottish Ministers</heading><subsection eId="section-45-1"><num>(1)</num><content><p>During the period of six months beginning with the day on which this section comes into force, any relevant provision that may be made by the Scottish Ministers by regulations that are subject to the affirmative procedure (see section 29 of the Interpretation and Legislative Reform (Scotland) Act 2010 (asp 10)) may be made by regulations that are subject to the made affirmative procedure.</p></content></subsection><subsection eId="section-45-2"><num>(2)</num><intro><p>In subsection (1) “<term refersTo="#term-relevant-provision" eId="term-relevant-provision">relevant provision</term>” means—</p></intro><level class="para1" eId="section-45-2-a"><num>(a)</num><content><p>provision under section A50(3) of the Insolvency Act 1986 (power to modify moratorium provisions in relation to certain companies);</p></content></level><level class="para1" eId="section-45-2-b"><num>(b)</num><content><p>provision under paragraph 22 of Schedule ZA1 to the Insolvency Act 1986 (exclusion of registered social landlords from eligibility under Part A1 of that Act).</p></content></level></subsection><subsection eId="section-45-3"><num>(3)</num><intro><p>For the purposes of this section “<term refersTo="#term-regulations-that-are-subject-to-the-made-affirmative-procedure" eId="term-regulations-that-are-subject-to-the-made-affirmative-procedure">regulations that are subject to the made affirmative procedure</term>” means regulations that—</p></intro><level class="para1" eId="section-45-3-a"><num>(a)</num><content><p>must be laid before the Scottish Parliament as soon as reasonably practicable after being made, and</p></content></level><level class="para1" eId="section-45-3-b"><num>(b)</num><content><p>cease to have effect at the end of the period of 40 days beginning with the day on which the regulations are made, unless during that period the regulations are approved by a resolution of the Scottish Parliament.</p></content></level></subsection><subsection eId="section-45-4"><num>(4)</num><intro><p>In calculating the period of 40 days mentioned in subsection (3)(b), no account is to be taken of any time during which the Scottish Parliament is—</p></intro><level class="para1" eId="section-45-4-a"><num>(a)</num><content><p>dissolved, or</p></content></level><level class="para1" eId="section-45-4-b"><num>(b)</num><content><p>in recess for more than 4 days.</p></content></level></subsection><subsection eId="section-45-5"><num>(5)</num><intro><p>Where by virtue of this section the Scottish Ministers make regulations that are subject to the made affirmative procedure and the regulations cease to have effect because they are not approved within the period mentioned in subsection (3)(b), the fact that the regulations cease to have effect does not—</p></intro><level class="para1" eId="section-45-5-a"><num>(a)</num><content><p>affect anything previously done under or by virtue of the regulations, or</p></content></level><level class="para1" eId="section-45-5-b"><num>(b)</num><content><p>prevent the making of new regulations.</p></content></level></subsection><subsection eId="section-45-6"><num>(6)</num><content><p>Section 30 of the Interpretation and Legislative Reform (Scotland) Act 2010 does not apply in relation to regulations that are subject to the made affirmative procedure by virtue of this section.</p></content></subsection></section><section eId="section-46"><num>46</num><heading>Modified procedure for regulations of Northern Ireland departments</heading><subsection eId="section-46-1"><num>(1)</num><content><p>During the period of six months beginning with the day on which this section comes into force, any relevant provision that may be made by a Northern Ireland department by regulations that are subject to the affirmative resolution procedure may be made by regulations that are subject to the made affirmative procedure.</p></content></subsection><subsection eId="section-46-2"><num>(2)</num><intro><p>In subsection (1) “<term refersTo="#term-relevant-provision" eId="term-relevant-provision">relevant provision</term>” means—</p></intro><level class="para1" eId="section-46-2-a"><num>(a)</num><content><p>provision under Article 13HA(1) of the Insolvency (Northern Ireland) Order 1989 (power to modify moratorium provisions in relation to certain companies);</p></content></level><level class="para1" eId="section-46-2-b"><num>(b)</num><content><p>provision under Article 13HB(1) of that Order (moratorium: power to make provision in connection with pension schemes).</p></content></level></subsection><subsection eId="section-46-3"><num>(3)</num><intro><p>For the purposes of this section—</p></intro><level class="para1" eId="section-46-3-a"><num>(a)</num><content><p>“<term refersTo="#term-regulations-that-are-subject-to-the-affirmative-resolution-procedure" eId="term-regulations-that-are-subject-to-the-affirmative-resolution-procedure">regulations that are subject to the affirmative resolution procedure</term>” means regulations that may not be made unless a draft of the regulations has been laid before, and approved by a resolution of, the Assembly;</p></content></level><level class="para1" eId="section-46-3-b"><num>(b)</num><intro><p>“<term refersTo="#term-regulations-that-are-subject-to-the-made-affirmative-procedure" eId="term-regulations-that-are-subject-to-the-made-affirmative-procedure">regulations that are subject to the made affirmative procedure</term>” means regulations that—</p></intro><level class="para2" eId="section-46-3-b-i"><num>(i)</num><content><p>must be laid before the Assembly as soon as reasonably practicable after being made, and</p></content></level><level class="para2" eId="section-46-3-b-ii"><num>(ii)</num><content><p>cease to have effect at the end of the period of 40 days beginning with the day on which the regulations are made, unless during that period the regulations are approved by a resolution of the Assembly.</p></content></level></level></subsection><subsection eId="section-46-4"><num>(4)</num><intro><p>In calculating the period of 40 days mentioned in subsection (3)(b)(ii), no account is to be taken of any time during which the Assembly is—</p></intro><level class="para1" eId="section-46-4-a"><num>(a)</num><content><p>dissolved,</p></content></level><level class="para1" eId="section-46-4-b"><num>(b)</num><content><p>in recess for more than 4 days, or</p></content></level><level class="para1" eId="section-46-4-c"><num>(c)</num><content><p>adjourned for more than 6 days.</p></content></level></subsection><subsection eId="section-46-5"><num>(5)</num><intro><p>Where by virtue of this section a Northern Ireland department makes regulations that are subject to the made affirmative procedure and the regulations cease to have effect because they are not approved within the period mentioned in subsection (3)(b)(ii), the fact that the regulations cease to have effect does not—</p></intro><level class="para1" eId="section-46-5-a"><num>(a)</num><content><p>affect anything previously done under or by virtue of the regulations, or</p></content></level><level class="para1" eId="section-46-5-b"><num>(b)</num><content><p>prevent the making of new regulations.</p></content></level></subsection><subsection eId="section-46-6"><num>(6)</num><content><p>In this section “<term refersTo="#term-the-assembly" eId="term-the-assembly">the Assembly</term>” means the Northern Ireland Assembly.</p></content></subsection></section></hcontainer>
<section xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-43"><num>43</num><heading>Modified procedure for regulations of the Secretary of State</heading><subsection eId="section-43-1"><num>(1)</num><content><p>During the period of six months beginning with the day on which this section comes into force, any relevant provision that may be made by the Secretary of State by regulations that are subject to the affirmative resolution procedure may be made by regulations that are subject to the made affirmative procedure.</p></content></subsection><subsection eId="section-43-2"><num>(2)</num><intro><p>In subsection (1) “<term refersTo="#term-relevant-provision" eId="term-relevant-provision">relevant provision</term>” means—</p></intro><level class="para1" eId="section-43-2-a"><num>(a)</num><content><p>provision under section A50(1) or (4) of the Insolvency Act 1986 (power to modify moratorium provisions in relation to certain companies);</p></content></level><level class="para1" eId="section-43-2-b"><num>(b)</num><content><p>provision under section A51(1) of the Insolvency Act 1986 (moratorium: power to make provision in connection with pension schemes);</p></content></level><level class="para1" eId="section-43-2-c"><num>(c)</num><content><p>provision under paragraph 20 of Schedule ZA1 to the Insolvency Act 1986 to exclude private registered providers of social housing from being eligible companies for the purposes of Part A1 of that Act;</p></content></level><level class="para1" eId="section-43-2-d"><num>(d)</num><content><p>provision under section 14 or 16 of the Limited Liability Partnerships Act 2000 (insolvency etc and power to make consequential amendments) to the extent that the provision is made in connection with the application of Part A1 of the Insolvency Act 1986 to limited liability partnerships that are registered providers of social housing;</p></content></level><level class="para1" eId="section-43-2-e"><num>(e)</num><content><p>provision under section 245 of the Charities Act 2011 (insolvency etc of charitable incorporated organisations etc) to the extent that the provision applies, or is otherwise made in connection with, the new insolvency measures.</p></content></level></subsection><subsection eId="section-43-3"><num>(3)</num><content><p>During the period of six months beginning with the day on which this section comes into force, the consultation duty in section 348(4) of the Charities Act 2011 does not apply in relation to regulations under section 245 of that Act to the extent that they contain provision which applies, or is otherwise made in connection with, the new insolvency measures.</p></content></subsection><subsection eId="section-43-4"><num>(4)</num><intro><p>In subsections (2) and (3) “<term refersTo="#term-the-new-insolvency-measures" eId="term-the-new-insolvency-measures">the new insolvency measures</term>” means the provision made by—</p></intro><level class="para1" eId="section-43-4-a"><num>(a)</num><content><p>sections 1 to 3 and Schedules 1 to 4 (moratorium);</p></content></level><level class="para1" eId="section-43-4-b"><num>(b)</num><content><p>sections 14 and 15 and Schedule 12 (termination clauses in supply contracts).</p></content></level></subsection><subsection eId="section-43-5"><num>(5)</num><intro><p>For the purposes of this section —</p></intro><level class="para1" eId="section-43-5-a"><num>(a)</num><content><p>“<term refersTo="#term-regulations-that-are-subject-to-the-affirmative-resolution-procedure" eId="term-regulations-that-are-subject-to-the-affirmative-resolution-procedure">regulations that are subject to the affirmative resolution procedure</term>” means regulations that may not be made unless a draft of the statutory instrument containing them has been laid before and approved by a resolution of each House of Parliament;</p></content></level><level class="para1" eId="section-43-5-b"><num>(b)</num><intro><p>“<term refersTo="#term-regulations-that-are-subject-to-the-made-affirmative-procedure" eId="term-regulations-that-are-subject-to-the-made-affirmative-procedure">regulations that are subject to the made affirmative procedure</term>” means regulations that—</p></intro><level class="para2" eId="section-43-5-b-i"><num>(i)</num><content><p>are contained in a statutory instrument that must be laid before Parliament as soon as reasonably practicable after being made, and</p></content></level><level class="para2" eId="section-43-5-b-ii"><num>(ii)</num><content><p>cease to have effect at the end of the period of 40 days beginning with the day on which the instrument is made, unless during that period the instrument is approved by a resolution of each House of Parliament.</p></content></level></level></subsection><subsection eId="section-43-6"><num>(6)</num><intro><p>In calculating the period of 40 days mentioned in subsection (5)(b)(ii), no account is to be taken of any time during which—</p></intro><level class="para1" eId="section-43-6-a"><num>(a)</num><content><p>Parliament is dissolved or prorogued, or</p></content></level><level class="para1" eId="section-43-6-b"><num>(b)</num><content><p>both Houses of Parliament are adjourned for more than 4 days.</p></content></level></subsection><subsection eId="section-43-7"><num>(7)</num><intro><p>Where by virtue of this section the Secretary of State makes regulations that are subject to the made affirmative procedure and the regulations cease to have effect because they are not approved within the period mentioned in subsection (5)(b)(ii), the fact that the regulations cease to have effect does not—</p></intro><level class="para1" eId="section-43-7-a"><num>(a)</num><content><p>affect anything previously done under or by virtue of the regulations, or</p></content></level><level class="para1" eId="section-43-7-b"><num>(b)</num><content><p>prevent the making of new regulations.</p></content></level></subsection></section>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-43-1"><num>(1)</num><content><p>During the period of six months beginning with the day on which this section comes into force, any relevant provision that may be made by the Secretary of State by regulations that are subject to the affirmative resolution procedure may be made by regulations that are subject to the made affirmative procedure.</p></content></subsection>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-43-2"><num>(2)</num><intro><p>In subsection (1) “<term refersTo="#term-relevant-provision" eId="term-relevant-provision">relevant provision</term>” means—</p></intro><level class="para1" eId="section-43-2-a"><num>(a)</num><content><p>provision under section A50(1) or (4) of the Insolvency Act 1986 (power to modify moratorium provisions in relation to certain companies);</p></content></level><level class="para1" eId="section-43-2-b"><num>(b)</num><content><p>provision under section A51(1) of the Insolvency Act 1986 (moratorium: power to make provision in connection with pension schemes);</p></content></level><level class="para1" eId="section-43-2-c"><num>(c)</num><content><p>provision under paragraph 20 of Schedule ZA1 to the Insolvency Act 1986 to exclude private registered providers of social housing from being eligible companies for the purposes of Part A1 of that Act;</p></content></level><level class="para1" eId="section-43-2-d"><num>(d)</num><content><p>provision under section 14 or 16 of the Limited Liability Partnerships Act 2000 (insolvency etc and power to make consequential amendments) to the extent that the provision is made in connection with the application of Part A1 of the Insolvency Act 1986 to limited liability partnerships that are registered providers of social housing;</p></content></level><level class="para1" eId="section-43-2-e"><num>(e)</num><content><p>provision under section 245 of the Charities Act 2011 (insolvency etc of charitable incorporated organisations etc) to the extent that the provision applies, or is otherwise made in connection with, the new insolvency measures.</p></content></level></subsection>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-43-2-a"><num>(a)</num><content><p>provision under section A50(1) or (4) of the Insolvency Act 1986 (power to modify moratorium provisions in relation to certain companies);</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-43-2-b"><num>(b)</num><content><p>provision under section A51(1) of the Insolvency Act 1986 (moratorium: power to make provision in connection with pension schemes);</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-43-2-c"><num>(c)</num><content><p>provision under paragraph 20 of Schedule ZA1 to the Insolvency Act 1986 to exclude private registered providers of social housing from being eligible companies for the purposes of Part A1 of that Act;</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-43-2-d"><num>(d)</num><content><p>provision under section 14 or 16 of the Limited Liability Partnerships Act 2000 (insolvency etc and power to make consequential amendments) to the extent that the provision is made in connection with the application of Part A1 of the Insolvency Act 1986 to limited liability partnerships that are registered providers of social housing;</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-43-2-e"><num>(e)</num><content><p>provision under section 245 of the Charities Act 2011 (insolvency etc of charitable incorporated organisations etc) to the extent that the provision applies, or is otherwise made in connection with, the new insolvency measures.</p></content></level>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-43-3"><num>(3)</num><content><p>During the period of six months beginning with the day on which this section comes into force, the consultation duty in section 348(4) of the Charities Act 2011 does not apply in relation to regulations under section 245 of that Act to the extent that they contain provision which applies, or is otherwise made in connection with, the new insolvency measures.</p></content></subsection>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-43-4"><num>(4)</num><intro><p>In subsections (2) and (3) “<term refersTo="#term-the-new-insolvency-measures" eId="term-the-new-insolvency-measures">the new insolvency measures</term>” means the provision made by—</p></intro><level class="para1" eId="section-43-4-a"><num>(a)</num><content><p>sections 1 to 3 and Schedules 1 to 4 (moratorium);</p></content></level><level class="para1" eId="section-43-4-b"><num>(b)</num><content><p>sections 14 and 15 and Schedule 12 (termination clauses in supply contracts).</p></content></level></subsection>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-43-4-a"><num>(a)</num><content><p>sections 1 to 3 and Schedules 1 to 4 (moratorium);</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-43-4-b"><num>(b)</num><content><p>sections 14 and 15 and Schedule 12 (termination clauses in supply contracts).</p></content></level>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-43-5"><num>(5)</num><intro><p>For the purposes of this section —</p></intro><level class="para1" eId="section-43-5-a"><num>(a)</num><content><p>“<term refersTo="#term-regulations-that-are-subject-to-the-affirmative-resolution-procedure" eId="term-regulations-that-are-subject-to-the-affirmative-resolution-procedure">regulations that are subject to the affirmative resolution procedure</term>” means regulations that may not be made unless a draft of the statutory instrument containing them has been laid before and approved by a resolution of each House of Parliament;</p></content></level><level class="para1" eId="section-43-5-b"><num>(b)</num><intro><p>“<term refersTo="#term-regulations-that-are-subject-to-the-made-affirmative-procedure" eId="term-regulations-that-are-subject-to-the-made-affirmative-procedure">regulations that are subject to the made affirmative procedure</term>” means regulations that—</p></intro><level class="para2" eId="section-43-5-b-i"><num>(i)</num><content><p>are contained in a statutory instrument that must be laid before Parliament as soon as reasonably practicable after being made, and</p></content></level><level class="para2" eId="section-43-5-b-ii"><num>(ii)</num><content><p>cease to have effect at the end of the period of 40 days beginning with the day on which the instrument is made, unless during that period the instrument is approved by a resolution of each House of Parliament.</p></content></level></level></subsection>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-43-5-a"><num>(a)</num><content><p>“<term refersTo="#term-regulations-that-are-subject-to-the-affirmative-resolution-procedure" eId="term-regulations-that-are-subject-to-the-affirmative-resolution-procedure">regulations that are subject to the affirmative resolution procedure</term>” means regulations that may not be made unless a draft of the statutory instrument containing them has been laid before and approved by a resolution of each House of Parliament;</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-43-5-b"><num>(b)</num><intro><p>“<term refersTo="#term-regulations-that-are-subject-to-the-made-affirmative-procedure" eId="term-regulations-that-are-subject-to-the-made-affirmative-procedure">regulations that are subject to the made affirmative procedure</term>” means regulations that—</p></intro><level class="para2" eId="section-43-5-b-i"><num>(i)</num><content><p>are contained in a statutory instrument that must be laid before Parliament as soon as reasonably practicable after being made, and</p></content></level><level class="para2" eId="section-43-5-b-ii"><num>(ii)</num><content><p>cease to have effect at the end of the period of 40 days beginning with the day on which the instrument is made, unless during that period the instrument is approved by a resolution of each House of Parliament.</p></content></level></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para2" eId="section-43-5-b-i"><num>(i)</num><content><p>are contained in a statutory instrument that must be laid before Parliament as soon as reasonably practicable after being made, and</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para2" eId="section-43-5-b-ii"><num>(ii)</num><content><p>cease to have effect at the end of the period of 40 days beginning with the day on which the instrument is made, unless during that period the instrument is approved by a resolution of each House of Parliament.</p></content></level>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-43-6"><num>(6)</num><intro><p>In calculating the period of 40 days mentioned in subsection (5)(b)(ii), no account is to be taken of any time during which—</p></intro><level class="para1" eId="section-43-6-a"><num>(a)</num><content><p>Parliament is dissolved or prorogued, or</p></content></level><level class="para1" eId="section-43-6-b"><num>(b)</num><content><p>both Houses of Parliament are adjourned for more than 4 days.</p></content></level></subsection>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-43-6-a"><num>(a)</num><content><p>Parliament is dissolved or prorogued, or</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-43-6-b"><num>(b)</num><content><p>both Houses of Parliament are adjourned for more than 4 days.</p></content></level>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-43-7"><num>(7)</num><intro><p>Where by virtue of this section the Secretary of State makes regulations that are subject to the made affirmative procedure and the regulations cease to have effect because they are not approved within the period mentioned in subsection (5)(b)(ii), the fact that the regulations cease to have effect does not—</p></intro><level class="para1" eId="section-43-7-a"><num>(a)</num><content><p>affect anything previously done under or by virtue of the regulations, or</p></content></level><level class="para1" eId="section-43-7-b"><num>(b)</num><content><p>prevent the making of new regulations.</p></content></level></subsection>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-43-7-a"><num>(a)</num><content><p>affect anything previously done under or by virtue of the regulations, or</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-43-7-b"><num>(b)</num><content><p>prevent the making of new regulations.</p></content></level>
<section xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-44"><num>44</num><heading>Modified procedure for regulations of the Welsh Ministers</heading><subsection eId="section-44-1"><num>(1)</num><content><p>During the period of six months beginning with the day on which this section comes into force, any relevant provision that may be made by the Welsh Ministers by regulations that are subject to the affirmative resolution procedure may be made by regulations that are subject to the made affirmative procedure.</p></content></subsection><subsection eId="section-44-2"><num>(2)</num><intro><p>In subsection (1) “<term refersTo="#term-relevant-provision" eId="term-relevant-provision">relevant provision</term>” means—</p></intro><level class="para1" eId="section-44-2-a"><num>(a)</num><content><p>provision under section A50(2) of the Insolvency Act 1986 (power to modify moratorium provisions in relation to certain companies);</p></content></level><level class="para1" eId="section-44-2-b"><num>(b)</num><content><p>provision under paragraph 21 of Schedule ZA1 to the Insolvency Act 1986 (exclusion of registered social landlords from eligibility under Part A1 of that Act);</p></content></level><level class="para1" eId="section-44-2-c"><num>(c)</num><content><p>provision under section 247A of the Charities Act 2011 (regulations about moratoriums for charitable incorporated organisations that are registered social landlords).</p></content></level></subsection><subsection eId="section-44-3"><num>(3)</num><content><p>During the period of six months beginning with the day on which this section comes into force, the consultation duty in section 247A(6) of the Charities Act 2011 does not apply in relation to regulations under section 247A of that Act.</p></content></subsection><subsection eId="section-44-4"><num>(4)</num><intro><p>For the purposes of this section —</p></intro><level class="para1" eId="section-44-4-a"><num>(a)</num><content><p>“<term refersTo="#term-regulations-that-are-subject-to-the-affirmative-resolution-procedure" eId="term-regulations-that-are-subject-to-the-affirmative-resolution-procedure">regulations that are subject to the affirmative resolution procedure</term>” means regulations that may not be made unless a draft of the statutory instrument containing them has been laid before and approved by a resolution of Senedd Cymru;</p></content></level><level class="para1" eId="section-44-4-b"><num>(b)</num><intro><p>“<term refersTo="#term-regulations-that-are-subject-to-the-made-affirmative-procedure" eId="term-regulations-that-are-subject-to-the-made-affirmative-procedure">regulations that are subject to the made affirmative procedure</term>” means regulations that—</p></intro><level class="para2" eId="section-44-4-b-i"><num>(i)</num><content><p>are contained in a statutory instrument that must be laid before Senedd Cymru as soon as reasonably practicable after being made, and</p></content></level><level class="para2" eId="section-44-4-b-ii"><num>(ii)</num><content><p>cease to have effect at the end of the period of 40 days beginning with the day on which the instrument is made, unless during that period the instrument is approved by a resolution of Senedd Cymru.</p></content></level></level></subsection><subsection eId="section-44-5"><num>(5)</num><intro><p>In calculating the period of 40 days mentioned in subsection (4)(b)(ii), no account is to be taken of any time during which Senedd Cymru is—</p></intro><level class="para1" eId="section-44-5-a"><num>(a)</num><content><p>dissolved, or</p></content></level><level class="para1" eId="section-44-5-b"><num>(b)</num><content><p>in recess for more than 4 days.</p></content></level></subsection><subsection eId="section-44-6"><num>(6)</num><intro><p>Where by virtue of this section the Welsh Ministers make regulations that are subject to the made affirmative procedure and the regulations cease to have effect because they are not approved within the period mentioned in subsection (4)(b)(ii), the fact that the regulations cease to have effect does not—</p></intro><level class="para1" eId="section-44-6-a"><num>(a)</num><content><p>affect anything previously done under or by virtue of the regulations, or</p></content></level><level class="para1" eId="section-44-6-b"><num>(b)</num><content><p>prevent the making of new regulations.</p></content></level></subsection></section>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-44-1"><num>(1)</num><content><p>During the period of six months beginning with the day on which this section comes into force, any relevant provision that may be made by the Welsh Ministers by regulations that are subject to the affirmative resolution procedure may be made by regulations that are subject to the made affirmative procedure.</p></content></subsection>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-44-2"><num>(2)</num><intro><p>In subsection (1) “<term refersTo="#term-relevant-provision" eId="term-relevant-provision">relevant provision</term>” means—</p></intro><level class="para1" eId="section-44-2-a"><num>(a)</num><content><p>provision under section A50(2) of the Insolvency Act 1986 (power to modify moratorium provisions in relation to certain companies);</p></content></level><level class="para1" eId="section-44-2-b"><num>(b)</num><content><p>provision under paragraph 21 of Schedule ZA1 to the Insolvency Act 1986 (exclusion of registered social landlords from eligibility under Part A1 of that Act);</p></content></level><level class="para1" eId="section-44-2-c"><num>(c)</num><content><p>provision under section 247A of the Charities Act 2011 (regulations about moratoriums for charitable incorporated organisations that are registered social landlords).</p></content></level></subsection>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-44-2-a"><num>(a)</num><content><p>provision under section A50(2) of the Insolvency Act 1986 (power to modify moratorium provisions in relation to certain companies);</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-44-2-b"><num>(b)</num><content><p>provision under paragraph 21 of Schedule ZA1 to the Insolvency Act 1986 (exclusion of registered social landlords from eligibility under Part A1 of that Act);</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-44-2-c"><num>(c)</num><content><p>provision under section 247A of the Charities Act 2011 (regulations about moratoriums for charitable incorporated organisations that are registered social landlords).</p></content></level>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-44-3"><num>(3)</num><content><p>During the period of six months beginning with the day on which this section comes into force, the consultation duty in section 247A(6) of the Charities Act 2011 does not apply in relation to regulations under section 247A of that Act.</p></content></subsection>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-44-4"><num>(4)</num><intro><p>For the purposes of this section —</p></intro><level class="para1" eId="section-44-4-a"><num>(a)</num><content><p>“<term refersTo="#term-regulations-that-are-subject-to-the-affirmative-resolution-procedure" eId="term-regulations-that-are-subject-to-the-affirmative-resolution-procedure">regulations that are subject to the affirmative resolution procedure</term>” means regulations that may not be made unless a draft of the statutory instrument containing them has been laid before and approved by a resolution of Senedd Cymru;</p></content></level><level class="para1" eId="section-44-4-b"><num>(b)</num><intro><p>“<term refersTo="#term-regulations-that-are-subject-to-the-made-affirmative-procedure" eId="term-regulations-that-are-subject-to-the-made-affirmative-procedure">regulations that are subject to the made affirmative procedure</term>” means regulations that—</p></intro><level class="para2" eId="section-44-4-b-i"><num>(i)</num><content><p>are contained in a statutory instrument that must be laid before Senedd Cymru as soon as reasonably practicable after being made, and</p></content></level><level class="para2" eId="section-44-4-b-ii"><num>(ii)</num><content><p>cease to have effect at the end of the period of 40 days beginning with the day on which the instrument is made, unless during that period the instrument is approved by a resolution of Senedd Cymru.</p></content></level></level></subsection>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-44-4-a"><num>(a)</num><content><p>“<term refersTo="#term-regulations-that-are-subject-to-the-affirmative-resolution-procedure" eId="term-regulations-that-are-subject-to-the-affirmative-resolution-procedure">regulations that are subject to the affirmative resolution procedure</term>” means regulations that may not be made unless a draft of the statutory instrument containing them has been laid before and approved by a resolution of Senedd Cymru;</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-44-4-b"><num>(b)</num><intro><p>“<term refersTo="#term-regulations-that-are-subject-to-the-made-affirmative-procedure" eId="term-regulations-that-are-subject-to-the-made-affirmative-procedure">regulations that are subject to the made affirmative procedure</term>” means regulations that—</p></intro><level class="para2" eId="section-44-4-b-i"><num>(i)</num><content><p>are contained in a statutory instrument that must be laid before Senedd Cymru as soon as reasonably practicable after being made, and</p></content></level><level class="para2" eId="section-44-4-b-ii"><num>(ii)</num><content><p>cease to have effect at the end of the period of 40 days beginning with the day on which the instrument is made, unless during that period the instrument is approved by a resolution of Senedd Cymru.</p></content></level></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para2" eId="section-44-4-b-i"><num>(i)</num><content><p>are contained in a statutory instrument that must be laid before Senedd Cymru as soon as reasonably practicable after being made, and</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para2" eId="section-44-4-b-ii"><num>(ii)</num><content><p>cease to have effect at the end of the period of 40 days beginning with the day on which the instrument is made, unless during that period the instrument is approved by a resolution of Senedd Cymru.</p></content></level>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-44-5"><num>(5)</num><intro><p>In calculating the period of 40 days mentioned in subsection (4)(b)(ii), no account is to be taken of any time during which Senedd Cymru is—</p></intro><level class="para1" eId="section-44-5-a"><num>(a)</num><content><p>dissolved, or</p></content></level><level class="para1" eId="section-44-5-b"><num>(b)</num><content><p>in recess for more than 4 days.</p></content></level></subsection>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-44-5-a"><num>(a)</num><content><p>dissolved, or</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-44-5-b"><num>(b)</num><content><p>in recess for more than 4 days.</p></content></level>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-44-6"><num>(6)</num><intro><p>Where by virtue of this section the Welsh Ministers make regulations that are subject to the made affirmative procedure and the regulations cease to have effect because they are not approved within the period mentioned in subsection (4)(b)(ii), the fact that the regulations cease to have effect does not—</p></intro><level class="para1" eId="section-44-6-a"><num>(a)</num><content><p>affect anything previously done under or by virtue of the regulations, or</p></content></level><level class="para1" eId="section-44-6-b"><num>(b)</num><content><p>prevent the making of new regulations.</p></content></level></subsection>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-44-6-a"><num>(a)</num><content><p>affect anything previously done under or by virtue of the regulations, or</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-44-6-b"><num>(b)</num><content><p>prevent the making of new regulations.</p></content></level>
<section xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-45"><num>45</num><heading>Modified procedure for regulations of the Scottish Ministers</heading><subsection eId="section-45-1"><num>(1)</num><content><p>During the period of six months beginning with the day on which this section comes into force, any relevant provision that may be made by the Scottish Ministers by regulations that are subject to the affirmative procedure (see section 29 of the Interpretation and Legislative Reform (Scotland) Act 2010 (asp 10)) may be made by regulations that are subject to the made affirmative procedure.</p></content></subsection><subsection eId="section-45-2"><num>(2)</num><intro><p>In subsection (1) “<term refersTo="#term-relevant-provision" eId="term-relevant-provision">relevant provision</term>” means—</p></intro><level class="para1" eId="section-45-2-a"><num>(a)</num><content><p>provision under section A50(3) of the Insolvency Act 1986 (power to modify moratorium provisions in relation to certain companies);</p></content></level><level class="para1" eId="section-45-2-b"><num>(b)</num><content><p>provision under paragraph 22 of Schedule ZA1 to the Insolvency Act 1986 (exclusion of registered social landlords from eligibility under Part A1 of that Act).</p></content></level></subsection><subsection eId="section-45-3"><num>(3)</num><intro><p>For the purposes of this section “<term refersTo="#term-regulations-that-are-subject-to-the-made-affirmative-procedure" eId="term-regulations-that-are-subject-to-the-made-affirmative-procedure">regulations that are subject to the made affirmative procedure</term>” means regulations that—</p></intro><level class="para1" eId="section-45-3-a"><num>(a)</num><content><p>must be laid before the Scottish Parliament as soon as reasonably practicable after being made, and</p></content></level><level class="para1" eId="section-45-3-b"><num>(b)</num><content><p>cease to have effect at the end of the period of 40 days beginning with the day on which the regulations are made, unless during that period the regulations are approved by a resolution of the Scottish Parliament.</p></content></level></subsection><subsection eId="section-45-4"><num>(4)</num><intro><p>In calculating the period of 40 days mentioned in subsection (3)(b), no account is to be taken of any time during which the Scottish Parliament is—</p></intro><level class="para1" eId="section-45-4-a"><num>(a)</num><content><p>dissolved, or</p></content></level><level class="para1" eId="section-45-4-b"><num>(b)</num><content><p>in recess for more than 4 days.</p></content></level></subsection><subsection eId="section-45-5"><num>(5)</num><intro><p>Where by virtue of this section the Scottish Ministers make regulations that are subject to the made affirmative procedure and the regulations cease to have effect because they are not approved within the period mentioned in subsection (3)(b), the fact that the regulations cease to have effect does not—</p></intro><level class="para1" eId="section-45-5-a"><num>(a)</num><content><p>affect anything previously done under or by virtue of the regulations, or</p></content></level><level class="para1" eId="section-45-5-b"><num>(b)</num><content><p>prevent the making of new regulations.</p></content></level></subsection><subsection eId="section-45-6"><num>(6)</num><content><p>Section 30 of the Interpretation and Legislative Reform (Scotland) Act 2010 does not apply in relation to regulations that are subject to the made affirmative procedure by virtue of this section.</p></content></subsection></section>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-45-1"><num>(1)</num><content><p>During the period of six months beginning with the day on which this section comes into force, any relevant provision that may be made by the Scottish Ministers by regulations that are subject to the affirmative procedure (see section 29 of the Interpretation and Legislative Reform (Scotland) Act 2010 (asp 10)) may be made by regulations that are subject to the made affirmative procedure.</p></content></subsection>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-45-2"><num>(2)</num><intro><p>In subsection (1) “<term refersTo="#term-relevant-provision" eId="term-relevant-provision">relevant provision</term>” means—</p></intro><level class="para1" eId="section-45-2-a"><num>(a)</num><content><p>provision under section A50(3) of the Insolvency Act 1986 (power to modify moratorium provisions in relation to certain companies);</p></content></level><level class="para1" eId="section-45-2-b"><num>(b)</num><content><p>provision under paragraph 22 of Schedule ZA1 to the Insolvency Act 1986 (exclusion of registered social landlords from eligibility under Part A1 of that Act).</p></content></level></subsection>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-45-2-a"><num>(a)</num><content><p>provision under section A50(3) of the Insolvency Act 1986 (power to modify moratorium provisions in relation to certain companies);</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-45-2-b"><num>(b)</num><content><p>provision under paragraph 22 of Schedule ZA1 to the Insolvency Act 1986 (exclusion of registered social landlords from eligibility under Part A1 of that Act).</p></content></level>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-45-3"><num>(3)</num><intro><p>For the purposes of this section “<term refersTo="#term-regulations-that-are-subject-to-the-made-affirmative-procedure" eId="term-regulations-that-are-subject-to-the-made-affirmative-procedure">regulations that are subject to the made affirmative procedure</term>” means regulations that—</p></intro><level class="para1" eId="section-45-3-a"><num>(a)</num><content><p>must be laid before the Scottish Parliament as soon as reasonably practicable after being made, and</p></content></level><level class="para1" eId="section-45-3-b"><num>(b)</num><content><p>cease to have effect at the end of the period of 40 days beginning with the day on which the regulations are made, unless during that period the regulations are approved by a resolution of the Scottish Parliament.</p></content></level></subsection>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-45-3-a"><num>(a)</num><content><p>must be laid before the Scottish Parliament as soon as reasonably practicable after being made, and</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-45-3-b"><num>(b)</num><content><p>cease to have effect at the end of the period of 40 days beginning with the day on which the regulations are made, unless during that period the regulations are approved by a resolution of the Scottish Parliament.</p></content></level>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-45-4"><num>(4)</num><intro><p>In calculating the period of 40 days mentioned in subsection (3)(b), no account is to be taken of any time during which the Scottish Parliament is—</p></intro><level class="para1" eId="section-45-4-a"><num>(a)</num><content><p>dissolved, or</p></content></level><level class="para1" eId="section-45-4-b"><num>(b)</num><content><p>in recess for more than 4 days.</p></content></level></subsection>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-45-4-a"><num>(a)</num><content><p>dissolved, or</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-45-4-b"><num>(b)</num><content><p>in recess for more than 4 days.</p></content></level>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-45-5"><num>(5)</num><intro><p>Where by virtue of this section the Scottish Ministers make regulations that are subject to the made affirmative procedure and the regulations cease to have effect because they are not approved within the period mentioned in subsection (3)(b), the fact that the regulations cease to have effect does not—</p></intro><level class="para1" eId="section-45-5-a"><num>(a)</num><content><p>affect anything previously done under or by virtue of the regulations, or</p></content></level><level class="para1" eId="section-45-5-b"><num>(b)</num><content><p>prevent the making of new regulations.</p></content></level></subsection>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-45-5-a"><num>(a)</num><content><p>affect anything previously done under or by virtue of the regulations, or</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-45-5-b"><num>(b)</num><content><p>prevent the making of new regulations.</p></content></level>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-45-6"><num>(6)</num><content><p>Section 30 of the Interpretation and Legislative Reform (Scotland) Act 2010 does not apply in relation to regulations that are subject to the made affirmative procedure by virtue of this section.</p></content></subsection>
<section xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-46"><num>46</num><heading>Modified procedure for regulations of Northern Ireland departments</heading><subsection eId="section-46-1"><num>(1)</num><content><p>During the period of six months beginning with the day on which this section comes into force, any relevant provision that may be made by a Northern Ireland department by regulations that are subject to the affirmative resolution procedure may be made by regulations that are subject to the made affirmative procedure.</p></content></subsection><subsection eId="section-46-2"><num>(2)</num><intro><p>In subsection (1) “<term refersTo="#term-relevant-provision" eId="term-relevant-provision">relevant provision</term>” means—</p></intro><level class="para1" eId="section-46-2-a"><num>(a)</num><content><p>provision under Article 13HA(1) of the Insolvency (Northern Ireland) Order 1989 (power to modify moratorium provisions in relation to certain companies);</p></content></level><level class="para1" eId="section-46-2-b"><num>(b)</num><content><p>provision under Article 13HB(1) of that Order (moratorium: power to make provision in connection with pension schemes).</p></content></level></subsection><subsection eId="section-46-3"><num>(3)</num><intro><p>For the purposes of this section—</p></intro><level class="para1" eId="section-46-3-a"><num>(a)</num><content><p>“<term refersTo="#term-regulations-that-are-subject-to-the-affirmative-resolution-procedure" eId="term-regulations-that-are-subject-to-the-affirmative-resolution-procedure">regulations that are subject to the affirmative resolution procedure</term>” means regulations that may not be made unless a draft of the regulations has been laid before, and approved by a resolution of, the Assembly;</p></content></level><level class="para1" eId="section-46-3-b"><num>(b)</num><intro><p>“<term refersTo="#term-regulations-that-are-subject-to-the-made-affirmative-procedure" eId="term-regulations-that-are-subject-to-the-made-affirmative-procedure">regulations that are subject to the made affirmative procedure</term>” means regulations that—</p></intro><level class="para2" eId="section-46-3-b-i"><num>(i)</num><content><p>must be laid before the Assembly as soon as reasonably practicable after being made, and</p></content></level><level class="para2" eId="section-46-3-b-ii"><num>(ii)</num><content><p>cease to have effect at the end of the period of 40 days beginning with the day on which the regulations are made, unless during that period the regulations are approved by a resolution of the Assembly.</p></content></level></level></subsection><subsection eId="section-46-4"><num>(4)</num><intro><p>In calculating the period of 40 days mentioned in subsection (3)(b)(ii), no account is to be taken of any time during which the Assembly is—</p></intro><level class="para1" eId="section-46-4-a"><num>(a)</num><content><p>dissolved,</p></content></level><level class="para1" eId="section-46-4-b"><num>(b)</num><content><p>in recess for more than 4 days, or</p></content></level><level class="para1" eId="section-46-4-c"><num>(c)</num><content><p>adjourned for more than 6 days.</p></content></level></subsection><subsection eId="section-46-5"><num>(5)</num><intro><p>Where by virtue of this section a Northern Ireland department makes regulations that are subject to the made affirmative procedure and the regulations cease to have effect because they are not approved within the period mentioned in subsection (3)(b)(ii), the fact that the regulations cease to have effect does not—</p></intro><level class="para1" eId="section-46-5-a"><num>(a)</num><content><p>affect anything previously done under or by virtue of the regulations, or</p></content></level><level class="para1" eId="section-46-5-b"><num>(b)</num><content><p>prevent the making of new regulations.</p></content></level></subsection><subsection eId="section-46-6"><num>(6)</num><content><p>In this section “<term refersTo="#term-the-assembly" eId="term-the-assembly">the Assembly</term>” means the Northern Ireland Assembly.</p></content></subsection></section>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-46-1"><num>(1)</num><content><p>During the period of six months beginning with the day on which this section comes into force, any relevant provision that may be made by a Northern Ireland department by regulations that are subject to the affirmative resolution procedure may be made by regulations that are subject to the made affirmative procedure.</p></content></subsection>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-46-2"><num>(2)</num><intro><p>In subsection (1) “<term refersTo="#term-relevant-provision" eId="term-relevant-provision">relevant provision</term>” means—</p></intro><level class="para1" eId="section-46-2-a"><num>(a)</num><content><p>provision under Article 13HA(1) of the Insolvency (Northern Ireland) Order 1989 (power to modify moratorium provisions in relation to certain companies);</p></content></level><level class="para1" eId="section-46-2-b"><num>(b)</num><content><p>provision under Article 13HB(1) of that Order (moratorium: power to make provision in connection with pension schemes).</p></content></level></subsection>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-46-2-a"><num>(a)</num><content><p>provision under Article 13HA(1) of the Insolvency (Northern Ireland) Order 1989 (power to modify moratorium provisions in relation to certain companies);</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-46-2-b"><num>(b)</num><content><p>provision under Article 13HB(1) of that Order (moratorium: power to make provision in connection with pension schemes).</p></content></level>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-46-3"><num>(3)</num><intro><p>For the purposes of this section—</p></intro><level class="para1" eId="section-46-3-a"><num>(a)</num><content><p>“<term refersTo="#term-regulations-that-are-subject-to-the-affirmative-resolution-procedure" eId="term-regulations-that-are-subject-to-the-affirmative-resolution-procedure">regulations that are subject to the affirmative resolution procedure</term>” means regulations that may not be made unless a draft of the regulations has been laid before, and approved by a resolution of, the Assembly;</p></content></level><level class="para1" eId="section-46-3-b"><num>(b)</num><intro><p>“<term refersTo="#term-regulations-that-are-subject-to-the-made-affirmative-procedure" eId="term-regulations-that-are-subject-to-the-made-affirmative-procedure">regulations that are subject to the made affirmative procedure</term>” means regulations that—</p></intro><level class="para2" eId="section-46-3-b-i"><num>(i)</num><content><p>must be laid before the Assembly as soon as reasonably practicable after being made, and</p></content></level><level class="para2" eId="section-46-3-b-ii"><num>(ii)</num><content><p>cease to have effect at the end of the period of 40 days beginning with the day on which the regulations are made, unless during that period the regulations are approved by a resolution of the Assembly.</p></content></level></level></subsection>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-46-3-a"><num>(a)</num><content><p>“<term refersTo="#term-regulations-that-are-subject-to-the-affirmative-resolution-procedure" eId="term-regulations-that-are-subject-to-the-affirmative-resolution-procedure">regulations that are subject to the affirmative resolution procedure</term>” means regulations that may not be made unless a draft of the regulations has been laid before, and approved by a resolution of, the Assembly;</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-46-3-b"><num>(b)</num><intro><p>“<term refersTo="#term-regulations-that-are-subject-to-the-made-affirmative-procedure" eId="term-regulations-that-are-subject-to-the-made-affirmative-procedure">regulations that are subject to the made affirmative procedure</term>” means regulations that—</p></intro><level class="para2" eId="section-46-3-b-i"><num>(i)</num><content><p>must be laid before the Assembly as soon as reasonably practicable after being made, and</p></content></level><level class="para2" eId="section-46-3-b-ii"><num>(ii)</num><content><p>cease to have effect at the end of the period of 40 days beginning with the day on which the regulations are made, unless during that period the regulations are approved by a resolution of the Assembly.</p></content></level></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para2" eId="section-46-3-b-i"><num>(i)</num><content><p>must be laid before the Assembly as soon as reasonably practicable after being made, and</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para2" eId="section-46-3-b-ii"><num>(ii)</num><content><p>cease to have effect at the end of the period of 40 days beginning with the day on which the regulations are made, unless during that period the regulations are approved by a resolution of the Assembly.</p></content></level>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-46-4"><num>(4)</num><intro><p>In calculating the period of 40 days mentioned in subsection (3)(b)(ii), no account is to be taken of any time during which the Assembly is—</p></intro><level class="para1" eId="section-46-4-a"><num>(a)</num><content><p>dissolved,</p></content></level><level class="para1" eId="section-46-4-b"><num>(b)</num><content><p>in recess for more than 4 days, or</p></content></level><level class="para1" eId="section-46-4-c"><num>(c)</num><content><p>adjourned for more than 6 days.</p></content></level></subsection>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-46-4-a"><num>(a)</num><content><p>dissolved,</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-46-4-b"><num>(b)</num><content><p>in recess for more than 4 days, or</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-46-4-c"><num>(c)</num><content><p>adjourned for more than 6 days.</p></content></level>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-46-5"><num>(5)</num><intro><p>Where by virtue of this section a Northern Ireland department makes regulations that are subject to the made affirmative procedure and the regulations cease to have effect because they are not approved within the period mentioned in subsection (3)(b)(ii), the fact that the regulations cease to have effect does not—</p></intro><level class="para1" eId="section-46-5-a"><num>(a)</num><content><p>affect anything previously done under or by virtue of the regulations, or</p></content></level><level class="para1" eId="section-46-5-b"><num>(b)</num><content><p>prevent the making of new regulations.</p></content></level></subsection>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-46-5-a"><num>(a)</num><content><p>affect anything previously done under or by virtue of the regulations, or</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-46-5-b"><num>(b)</num><content><p>prevent the making of new regulations.</p></content></level>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-46-6"><num>(6)</num><content><p>In this section “<term refersTo="#term-the-assembly" eId="term-the-assembly">the Assembly</term>” means the Northern Ireland Assembly.</p></content></subsection>
<hcontainer xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" name="crossheading" ukl:Name="Pblock" eId="crossheading-general"><heading><i>General</i></heading><section eId="section-47"><num>47</num><heading>Power to make consequential provision</heading><subsection eId="section-47-1"><num>(1)</num><content><p>The Secretary of State or the Treasury may by regulations make provision that is consequential on this Act.</p></content></subsection><subsection eId="section-47-2"><num>(2)</num><intro><p>The power in subsection (1) may, in particular, be used to amend, repeal, revoke or otherwise modify any provision of this Act or any provision made by or under primary legislation passed or made—</p></intro><level class="para1" eId="section-47-2-a"><num>(a)</num><content><p>before this Act, or</p></content></level><level class="para1" eId="section-47-2-b"><num>(b)</num><content><p>later in the same session of Parliament as this Act.</p></content></level></subsection><subsection eId="section-47-3"><num>(3)</num><content><p>But the power to amend or repeal any provision made by this Act may not be used after the period of 3 years beginning with the day on which it is passed.</p></content></subsection><subsection eId="section-47-4"><num>(4)</num><intro><p>Regulations under this section—</p></intro><level class="para1" eId="section-47-4-a"><num>(a)</num><content><p>may make different provision for different purposes;</p></content></level><level class="para1" eId="section-47-4-b"><num>(b)</num><content><p>may include transitional or transitory provision or savings.</p></content></level></subsection><subsection eId="section-47-5"><num>(5)</num><content><p>Regulations under this section are to be made by statutory instrument.</p></content></subsection><subsection eId="section-47-6"><num>(6)</num><content><p>A statutory instrument containing regulations under this section that amend or repeal provision made by primary legislation (whether alone or with other provision) may not be made unless a draft of the instrument has been laid before and approved by a resolution of each House of Parliament.</p></content></subsection><subsection eId="section-47-7"><num>(7)</num><content><p>Any other statutory instrument containing regulations under this section is subject to annulment in pursuance of a resolution of either House of Parliament.</p></content></subsection><subsection eId="section-47-8"><num>(8)</num><intro><p>In this section “<term refersTo="#term-primary-legislation" eId="term-primary-legislation">primary legislation</term>” means—</p></intro><level class="para1" eId="section-47-8-a"><num>(a)</num><content><p>an Act,</p></content></level><level class="para1" eId="section-47-8-b"><num>(b)</num><content><p>an Act or Measure of Senedd Cymru,</p></content></level><level class="para1" eId="section-47-8-c"><num>(c)</num><content><p>an Act of the Scottish Parliament, or</p></content></level><level class="para1" eId="section-47-8-d"><num>(d)</num><content><p>Northern Ireland legislation.</p></content></level></subsection></section><section eId="section-48"><num>48</num><heading>Extent</heading><subsection eId="section-48-1"><num>(1)</num><content><p>An amendment, repeal or revocation made by this Act has the same extent within the United Kingdom as the provision amended, repealed or revoked.</p></content></subsection><subsection eId="section-48-2"><num>(2)</num><intro><p>The following provisions extend to England and Wales and Scotland only—</p></intro><level class="para1" eId="section-48-2-a"><num>(a)</num><content><p>section 3 and Parts 1 and 2 of Schedule 4;</p></content></level><level class="para1" eId="section-48-2-b"><num>(b)</num><content><p>section 10 and Schedule 10;</p></content></level><level class="para1" eId="section-48-2-c"><num>(c)</num><content><p>section 12;</p></content></level><level class="para1" eId="section-48-2-d"><num>(d)</num><content><p>section 15;</p></content></level><level class="para1" eId="section-48-2-e"><num>(e)</num><content><p>sections 20 to 24;</p></content></level><level class="para1" eId="section-48-2-f"><num>(f)</num><content><p>section 41.</p></content></level></subsection><subsection eId="section-48-3"><num>(3)</num><intro><p>The following provisions extend to England and Wales only—</p></intro><level class="para1" eId="section-48-3-a"><num>(a)</num><content><p>section 44;</p></content></level><level class="para1" eId="section-48-3-b"><num>(b)</num><content><p>Part 3 of Schedule 4.</p></content></level></subsection><subsection eId="section-48-4"><num>(4)</num><intro><p>The following provisions extend to Scotland only—</p></intro><level class="para1" eId="section-48-4-a"><num>(a)</num><content><p>section 45;</p></content></level><level class="para1" eId="section-48-4-b"><num>(b)</num><content><p>Part 4 of Schedule 4.</p></content></level></subsection><subsection eId="section-48-5"><num>(5)</num><intro><p>The following provisions extend to Northern Ireland only—</p></intro><level class="para1" eId="section-48-5-a"><num>(a)</num><content><p>section 6 and Schedule 8;</p></content></level><level class="para1" eId="section-48-5-b"><num>(b)</num><content><p>section 11 and Schedule 11;</p></content></level><level class="para1" eId="section-48-5-c"><num>(c)</num><content><p>section 13;</p></content></level><level class="para1" eId="section-48-5-d"><num>(d)</num><content><p>section 19;</p></content></level><level class="para1" eId="section-48-5-e"><num>(e)</num><content><p>sections 28 to 36;</p></content></level><level class="para1" eId="section-48-5-f"><num>(f)</num><content><p>section 42.</p></content></level></subsection><subsection eId="section-48-6"><num>(6)</num><content><p>Subject to the above, this Act extends to England and Wales, Scotland and Northern Ireland.</p></content></subsection></section><section eId="section-49"><num>49</num><heading>Commencement</heading><subsection eId="section-49-1"><num>(1)</num><content><p>This Act comes into force on the day after that on which it is passed, subject to subsection (2).</p></content></subsection><subsection eId="section-49-2"><num>(2)</num><content><p>Paragraph 51 of Schedule 3 comes into force on such day as the Secretary of State may by regulations appoint.</p></content></subsection><subsection eId="section-49-3"><num>(3)</num><content><p>Different days may be appointed for different purposes.</p></content></subsection><subsection eId="section-49-4"><num>(4)</num><content><p>The Secretary of State may by regulations make transitional or saving provision in connection with the coming into force of any provision of this Act.</p></content></subsection><subsection eId="section-49-5"><num>(5)</num><content><p>The power to make regulations under subsection (4) includes power to make different provision for different purposes.</p></content></subsection><subsection eId="section-49-6"><num>(6)</num><content><p>Regulations under this section are to be made by statutory instrument.</p></content></subsection></section><section eId="section-50"><num>50</num><heading>Short title</heading><content><p>This Act may be cited as the Corporate Insolvency and Governance Act 2020.</p></content></section></hcontainer>
<section xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-47"><num>47</num><heading>Power to make consequential provision</heading><subsection eId="section-47-1"><num>(1)</num><content><p>The Secretary of State or the Treasury may by regulations make provision that is consequential on this Act.</p></content></subsection><subsection eId="section-47-2"><num>(2)</num><intro><p>The power in subsection (1) may, in particular, be used to amend, repeal, revoke or otherwise modify any provision of this Act or any provision made by or under primary legislation passed or made—</p></intro><level class="para1" eId="section-47-2-a"><num>(a)</num><content><p>before this Act, or</p></content></level><level class="para1" eId="section-47-2-b"><num>(b)</num><content><p>later in the same session of Parliament as this Act.</p></content></level></subsection><subsection eId="section-47-3"><num>(3)</num><content><p>But the power to amend or repeal any provision made by this Act may not be used after the period of 3 years beginning with the day on which it is passed.</p></content></subsection><subsection eId="section-47-4"><num>(4)</num><intro><p>Regulations under this section—</p></intro><level class="para1" eId="section-47-4-a"><num>(a)</num><content><p>may make different provision for different purposes;</p></content></level><level class="para1" eId="section-47-4-b"><num>(b)</num><content><p>may include transitional or transitory provision or savings.</p></content></level></subsection><subsection eId="section-47-5"><num>(5)</num><content><p>Regulations under this section are to be made by statutory instrument.</p></content></subsection><subsection eId="section-47-6"><num>(6)</num><content><p>A statutory instrument containing regulations under this section that amend or repeal provision made by primary legislation (whether alone or with other provision) may not be made unless a draft of the instrument has been laid before and approved by a resolution of each House of Parliament.</p></content></subsection><subsection eId="section-47-7"><num>(7)</num><content><p>Any other statutory instrument containing regulations under this section is subject to annulment in pursuance of a resolution of either House of Parliament.</p></content></subsection><subsection eId="section-47-8"><num>(8)</num><intro><p>In this section “<term refersTo="#term-primary-legislation" eId="term-primary-legislation">primary legislation</term>” means—</p></intro><level class="para1" eId="section-47-8-a"><num>(a)</num><content><p>an Act,</p></content></level><level class="para1" eId="section-47-8-b"><num>(b)</num><content><p>an Act or Measure of Senedd Cymru,</p></content></level><level class="para1" eId="section-47-8-c"><num>(c)</num><content><p>an Act of the Scottish Parliament, or</p></content></level><level class="para1" eId="section-47-8-d"><num>(d)</num><content><p>Northern Ireland legislation.</p></content></level></subsection></section>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-47-1"><num>(1)</num><content><p>The Secretary of State or the Treasury may by regulations make provision that is consequential on this Act.</p></content></subsection>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-47-2"><num>(2)</num><intro><p>The power in subsection (1) may, in particular, be used to amend, repeal, revoke or otherwise modify any provision of this Act or any provision made by or under primary legislation passed or made—</p></intro><level class="para1" eId="section-47-2-a"><num>(a)</num><content><p>before this Act, or</p></content></level><level class="para1" eId="section-47-2-b"><num>(b)</num><content><p>later in the same session of Parliament as this Act.</p></content></level></subsection>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-47-2-a"><num>(a)</num><content><p>before this Act, or</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-47-2-b"><num>(b)</num><content><p>later in the same session of Parliament as this Act.</p></content></level>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-47-3"><num>(3)</num><content><p>But the power to amend or repeal any provision made by this Act may not be used after the period of 3 years beginning with the day on which it is passed.</p></content></subsection>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-47-4"><num>(4)</num><intro><p>Regulations under this section—</p></intro><level class="para1" eId="section-47-4-a"><num>(a)</num><content><p>may make different provision for different purposes;</p></content></level><level class="para1" eId="section-47-4-b"><num>(b)</num><content><p>may include transitional or transitory provision or savings.</p></content></level></subsection>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-47-4-a"><num>(a)</num><content><p>may make different provision for different purposes;</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-47-4-b"><num>(b)</num><content><p>may include transitional or transitory provision or savings.</p></content></level>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-47-5"><num>(5)</num><content><p>Regulations under this section are to be made by statutory instrument.</p></content></subsection>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-47-6"><num>(6)</num><content><p>A statutory instrument containing regulations under this section that amend or repeal provision made by primary legislation (whether alone or with other provision) may not be made unless a draft of the instrument has been laid before and approved by a resolution of each House of Parliament.</p></content></subsection>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-47-7"><num>(7)</num><content><p>Any other statutory instrument containing regulations under this section is subject to annulment in pursuance of a resolution of either House of Parliament.</p></content></subsection>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-47-8"><num>(8)</num><intro><p>In this section “<term refersTo="#term-primary-legislation" eId="term-primary-legislation">primary legislation</term>” means—</p></intro><level class="para1" eId="section-47-8-a"><num>(a)</num><content><p>an Act,</p></content></level><level class="para1" eId="section-47-8-b"><num>(b)</num><content><p>an Act or Measure of Senedd Cymru,</p></content></level><level class="para1" eId="section-47-8-c"><num>(c)</num><content><p>an Act of the Scottish Parliament, or</p></content></level><level class="para1" eId="section-47-8-d"><num>(d)</num><content><p>Northern Ireland legislation.</p></content></level></subsection>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-47-8-a"><num>(a)</num><content><p>an Act,</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-47-8-b"><num>(b)</num><content><p>an Act or Measure of Senedd Cymru,</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-47-8-c"><num>(c)</num><content><p>an Act of the Scottish Parliament, or</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-47-8-d"><num>(d)</num><content><p>Northern Ireland legislation.</p></content></level>
<section xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-48"><num>48</num><heading>Extent</heading><subsection eId="section-48-1"><num>(1)</num><content><p>An amendment, repeal or revocation made by this Act has the same extent within the United Kingdom as the provision amended, repealed or revoked.</p></content></subsection><subsection eId="section-48-2"><num>(2)</num><intro><p>The following provisions extend to England and Wales and Scotland only—</p></intro><level class="para1" eId="section-48-2-a"><num>(a)</num><content><p>section 3 and Parts 1 and 2 of Schedule 4;</p></content></level><level class="para1" eId="section-48-2-b"><num>(b)</num><content><p>section 10 and Schedule 10;</p></content></level><level class="para1" eId="section-48-2-c"><num>(c)</num><content><p>section 12;</p></content></level><level class="para1" eId="section-48-2-d"><num>(d)</num><content><p>section 15;</p></content></level><level class="para1" eId="section-48-2-e"><num>(e)</num><content><p>sections 20 to 24;</p></content></level><level class="para1" eId="section-48-2-f"><num>(f)</num><content><p>section 41.</p></content></level></subsection><subsection eId="section-48-3"><num>(3)</num><intro><p>The following provisions extend to England and Wales only—</p></intro><level class="para1" eId="section-48-3-a"><num>(a)</num><content><p>section 44;</p></content></level><level class="para1" eId="section-48-3-b"><num>(b)</num><content><p>Part 3 of Schedule 4.</p></content></level></subsection><subsection eId="section-48-4"><num>(4)</num><intro><p>The following provisions extend to Scotland only—</p></intro><level class="para1" eId="section-48-4-a"><num>(a)</num><content><p>section 45;</p></content></level><level class="para1" eId="section-48-4-b"><num>(b)</num><content><p>Part 4 of Schedule 4.</p></content></level></subsection><subsection eId="section-48-5"><num>(5)</num><intro><p>The following provisions extend to Northern Ireland only—</p></intro><level class="para1" eId="section-48-5-a"><num>(a)</num><content><p>section 6 and Schedule 8;</p></content></level><level class="para1" eId="section-48-5-b"><num>(b)</num><content><p>section 11 and Schedule 11;</p></content></level><level class="para1" eId="section-48-5-c"><num>(c)</num><content><p>section 13;</p></content></level><level class="para1" eId="section-48-5-d"><num>(d)</num><content><p>section 19;</p></content></level><level class="para1" eId="section-48-5-e"><num>(e)</num><content><p>sections 28 to 36;</p></content></level><level class="para1" eId="section-48-5-f"><num>(f)</num><content><p>section 42.</p></content></level></subsection><subsection eId="section-48-6"><num>(6)</num><content><p>Subject to the above, this Act extends to England and Wales, Scotland and Northern Ireland.</p></content></subsection></section>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-48-1"><num>(1)</num><content><p>An amendment, repeal or revocation made by this Act has the same extent within the United Kingdom as the provision amended, repealed or revoked.</p></content></subsection>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-48-2"><num>(2)</num><intro><p>The following provisions extend to England and Wales and Scotland only—</p></intro><level class="para1" eId="section-48-2-a"><num>(a)</num><content><p>section 3 and Parts 1 and 2 of Schedule 4;</p></content></level><level class="para1" eId="section-48-2-b"><num>(b)</num><content><p>section 10 and Schedule 10;</p></content></level><level class="para1" eId="section-48-2-c"><num>(c)</num><content><p>section 12;</p></content></level><level class="para1" eId="section-48-2-d"><num>(d)</num><content><p>section 15;</p></content></level><level class="para1" eId="section-48-2-e"><num>(e)</num><content><p>sections 20 to 24;</p></content></level><level class="para1" eId="section-48-2-f"><num>(f)</num><content><p>section 41.</p></content></level></subsection>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-48-2-a"><num>(a)</num><content><p>section 3 and Parts 1 and 2 of Schedule 4;</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-48-2-b"><num>(b)</num><content><p>section 10 and Schedule 10;</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-48-2-c"><num>(c)</num><content><p>section 12;</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-48-2-d"><num>(d)</num><content><p>section 15;</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-48-2-e"><num>(e)</num><content><p>sections 20 to 24;</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-48-2-f"><num>(f)</num><content><p>section 41.</p></content></level>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-48-3"><num>(3)</num><intro><p>The following provisions extend to England and Wales only—</p></intro><level class="para1" eId="section-48-3-a"><num>(a)</num><content><p>section 44;</p></content></level><level class="para1" eId="section-48-3-b"><num>(b)</num><content><p>Part 3 of Schedule 4.</p></content></level></subsection>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-48-3-a"><num>(a)</num><content><p>section 44;</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-48-3-b"><num>(b)</num><content><p>Part 3 of Schedule 4.</p></content></level>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-48-4"><num>(4)</num><intro><p>The following provisions extend to Scotland only—</p></intro><level class="para1" eId="section-48-4-a"><num>(a)</num><content><p>section 45;</p></content></level><level class="para1" eId="section-48-4-b"><num>(b)</num><content><p>Part 4 of Schedule 4.</p></content></level></subsection>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-48-4-a"><num>(a)</num><content><p>section 45;</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-48-4-b"><num>(b)</num><content><p>Part 4 of Schedule 4.</p></content></level>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-48-5"><num>(5)</num><intro><p>The following provisions extend to Northern Ireland only—</p></intro><level class="para1" eId="section-48-5-a"><num>(a)</num><content><p>section 6 and Schedule 8;</p></content></level><level class="para1" eId="section-48-5-b"><num>(b)</num><content><p>section 11 and Schedule 11;</p></content></level><level class="para1" eId="section-48-5-c"><num>(c)</num><content><p>section 13;</p></content></level><level class="para1" eId="section-48-5-d"><num>(d)</num><content><p>section 19;</p></content></level><level class="para1" eId="section-48-5-e"><num>(e)</num><content><p>sections 28 to 36;</p></content></level><level class="para1" eId="section-48-5-f"><num>(f)</num><content><p>section 42.</p></content></level></subsection>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-48-5-a"><num>(a)</num><content><p>section 6 and Schedule 8;</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-48-5-b"><num>(b)</num><content><p>section 11 and Schedule 11;</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-48-5-c"><num>(c)</num><content><p>section 13;</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-48-5-d"><num>(d)</num><content><p>section 19;</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-48-5-e"><num>(e)</num><content><p>sections 28 to 36;</p></content></level>
<level xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" class="para1" eId="section-48-5-f"><num>(f)</num><content><p>section 42.</p></content></level>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-48-6"><num>(6)</num><content><p>Subject to the above, this Act extends to England and Wales, Scotland and Northern Ireland.</p></content></subsection>
<section xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-49"><num>49</num><heading>Commencement</heading><subsection eId="section-49-1"><num>(1)</num><content><p>This Act comes into force on the day after that on which it is passed, subject to subsection (2).</p></content></subsection><subsection eId="section-49-2"><num>(2)</num><content><p>Paragraph 51 of Schedule 3 comes into force on such day as the Secretary of State may by regulations appoint.</p></content></subsection><subsection eId="section-49-3"><num>(3)</num><content><p>Different days may be appointed for different purposes.</p></content></subsection><subsection eId="section-49-4"><num>(4)</num><content><p>The Secretary of State may by regulations make transitional or saving provision in connection with the coming into force of any provision of this Act.</p></content></subsection><subsection eId="section-49-5"><num>(5)</num><content><p>The power to make regulations under subsection (4) includes power to make different provision for different purposes.</p></content></subsection><subsection eId="section-49-6"><num>(6)</num><content><p>Regulations under this section are to be made by statutory instrument.</p></content></subsection></section>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-49-1"><num>(1)</num><content><p>This Act comes into force on the day after that on which it is passed, subject to subsection (2).</p></content></subsection>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-49-2"><num>(2)</num><content><p>Paragraph 51 of Schedule 3 comes into force on such day as the Secretary of State may by regulations appoint.</p></content></subsection>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-49-3"><num>(3)</num><content><p>Different days may be appointed for different purposes.</p></content></subsection>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-49-4"><num>(4)</num><content><p>The Secretary of State may by regulations make transitional or saving provision in connection with the coming into force of any provision of this Act.</p></content></subsection>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-49-5"><num>(5)</num><content><p>The power to make regulations under subsection (4) includes power to make different provision for different purposes.</p></content></subsection>
<subsection xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-49-6"><num>(6)</num><content><p>Regulations under this section are to be made by statutory instrument.</p></content></subsection>
<section xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" eId="section-50"><num>50</num><heading>Short title</heading><content><p>This Act may be cited as the Corporate Insolvency and Governance Act 2020.</p></content></section>
<hcontainer xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" xmlns:default="http://www.w3.org/1999/xhtml" name="schedules" eId="schedules"><heading>SCHEDULES</heading><hcontainer name="schedule" eId="schedule-1"><num>SCHEDULE 1<authorialNote class="referenceNote"><p>
Section 1(2)</p></authorialNote></num><heading>Moratoriums in Great Britain: eligible companies</heading><hcontainer name="crossheading" class="schGroup7" eId="schedule-1-paragraph-wrapper1n1"><heading/><content><p>In the Insolvency Act 1986, before Schedule A1 (which is repealed by Schedule 3 to this Act) insert—</p><p><mod><quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="unknown" ukl:TargetClass="unknown" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="default"><hcontainer name="schedule"><num>SCHEDULE ZA1<authorialNote class="referenceNote"><p>
Section A2</p></authorialNote></num><heading>Moratorium: Eligible companies</heading><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Eligible companies</i></heading><paragraph class="schProv1"><num>1</num><content><p>A company is “<term refersTo="#term-eligible">eligible</term>” for the purposes of this Part unless it is excluded from being eligible by any of the following—</p><blockList class="unordered none" ukl:Name="UnorderedList" ukl:Decoration="none"><item><p>paragraph 2 (current or recent insolvency procedure);</p></item><item><p>paragraph 3 (insurance companies);</p></item><item><p>paragraph 4 (banks);</p></item><item><p>paragraph 5 (electronic money institutions);</p></item><item><p>paragraph 6 (investment banks and investment firms);</p></item><item><p>paragraph 7 (market contracts, market charges, etc);</p></item><item><p>paragraph 8 (participants in designated systems);</p></item><item><p>paragraph 9 (payment institutions);</p></item><item><p>paragraph 10 (operators of payment systems, infrastructure providers etc);</p></item><item><p>paragraph 11 (recognised investment exchanges, clearing houses and CSDs);</p></item><item><p>paragraph 12 (securitisation companies);</p></item><item><p>paragraph 13 (parties to capital market arrangements);</p></item><item><p>paragraph 15 (public-private partnership project companies);</p></item><item><p>paragraph 18 (certain overseas companies).</p></item></blockList></content></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Companies subject to, or recently subject to, moratorium or an insolvency procedure</i></heading><paragraph class="schProv1"><num>2</num><subparagraph><num>(1)</num><intro><p>A company is excluded from being eligible if—</p></intro><level class="para1"><num>(a)</num><content><p>on the filing date, a moratorium for the company is in force, or</p></content></level><level class="para1"><num>(b)</num><content><p>at any time during the period of 12 months ending with the filing date, a moratorium for the company was in force (but see section A42(6) for power of the court to modify the effect of this paragraph).</p></content></level></subparagraph><subparagraph><num>(2)</num><intro><p>A company is excluded from being eligible if—</p></intro><level class="para1"><num>(a)</num><content><p>on the filing date, the company is subject to an insolvency procedure, or</p></content></level><level class="para1"><num>(b)</num><content><p>at any time during the period of 12 months ending with the filing date, the company was subject to an insolvency procedure within sub-paragraph (3)(a) or (b).</p></content></level></subparagraph><subparagraph><num>(3)</num><intro><p>For the purposes of sub-paragraph (2), a company is subject to an insolvency procedure at any time if at that time—</p></intro><level class="para1"><num>(a)</num><content><p>a voluntary arrangement has effect in relation to the company,</p></content></level><level class="para1"><num>(b)</num><content><p>the company is in administration,</p></content></level><level class="para1"><num>(c)</num><content><p>paragraph 44 of Schedule B1 applies in relation to the company (administration: interim moratorium),</p></content></level><level class="para1"><num>(d)</num><content><p>there is an administrative receiver of the company,</p></content></level><level class="para1"><num>(e)</num><content><p>there is a provisional liquidator of the company,</p></content></level><level class="para1"><num>(f)</num><content><p>the company is being wound up, or</p></content></level><level class="para1"><num>(g)</num><content><p>a relevant petition for the winding up of the company has been presented and has not been withdrawn or determined.</p></content></level></subparagraph><subparagraph><num>(4)</num><intro><p>In sub-paragraph (3)(g) “<term refersTo="#term-relevant-petition">relevant petition</term>” means a petition under—</p></intro><level class="para1"><num>(a)</num><content><p>section 124A (winding up on grounds of public interest),</p></content></level><level class="para1"><num>(b)</num><content><p>section 124B (winding up of SE), or</p></content></level><level class="para1"><num>(c)</num><content><p>section 124C (winding up of SCE).</p></content></level></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Insurance companies</i></heading><paragraph class="schProv1"><num>3</num><subparagraph><num>(1)</num><intro><p>A company is excluded from being eligible if—</p></intro><level class="para1"><num>(a)</num><content><p>it carries on the regulated activity of effecting or carrying out contracts of insurance, and</p></content></level><level class="para1"><num>(b)</num><content><p>it is not an exempt person in relation to that activity.</p></content></level></subparagraph><subparagraph><num>(2)</num><intro><p>In this paragraph—</p></intro><hcontainer name="definition"><content><p>“<term refersTo="#term-exempt-person">exempt person</term>”, in relation to a regulated activity, has the meaning given by section 417 of the Financial Services and Markets Act 2000;</p></content></hcontainer><hcontainer name="definition"><content><p>“<term refersTo="#term-regulated-activity">regulated activity</term>” has the meaning given by section 22 of that Act, taken with Schedule 2 to that Act and any order under that section.</p></content></hcontainer></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Banks</i></heading><paragraph class="schProv1"><num>4</num><subparagraph><num>(1)</num><intro><p>A company is excluded from being eligible if—</p></intro><level class="para1"><num>(a)</num><content><p>it has permission under Part 4A of the Financial Services and Markets Act 2000 to carry on the regulated activity of accepting deposits,</p></content></level><level class="para1"><num>(b)</num><content><p>it is a banking group company within the meaning of Part 1 of the Banking Act 2009 (see section 81D of that Act), or</p></content></level><level class="para1"><num>(c)</num><content><p>it has a liability in respect of a deposit which it accepted in accordance with the Banking Act 1979 or the Banking Act 1987.</p></content></level></subparagraph><subparagraph><num>(2)</num><content><p>In sub-paragraph (1)(a) “<term refersTo="#term-regulated-activity">regulated activity</term>” has the meaning given by section 22 of the Financial Services and Markets Act 2000, taken with Schedule 2 to that Act and any order under that section.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Electronic money institutions</i></heading><paragraph class="schProv1"><num>5</num><content><p>A company is excluded from being eligible if it is an electronic money institution within the meaning of the Electronic Money Regulations 2011 (S.I. 2011/99) (see regulation 2 of those Regulations).</p></content></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Investment banks and investment firms</i></heading><paragraph class="schProv1"><num>6</num><subparagraph><num>(1)</num><content><p>A company is excluded from being eligible if it is an investment bank or an investment firm.</p></content></subparagraph><subparagraph><num>(2)</num><intro><p>In this paragraph—</p></intro><hcontainer name="definition"><intro><p>“<term refersTo="#term-investment-bank">investment bank</term>” means a company that has permission under Part 4A of the Financial Services and Markets Act 2000 to carry on the regulated activity of—</p></intro><level class="para1"><num>(a)</num><content><p>safeguarding and administering investments,</p></content></level><level class="para1"><num>(b)</num><content><p>managing an AIF or a UCITS,</p></content></level><level class="para1"><num>(c)</num><content><p>acting as trustee or depositary of an AIF or a UCITS,</p></content></level><level class="para1"><num>(d)</num><content><p>dealing in investments as principal, or</p></content></level><level class="para1"><num>(e)</num><content><p>dealing in investments as agent,</p></content></level><wrapUp><p>but does not include a company that has permission to arrange for one or more others to carry on the activity mentioned in paragraph (a) if it does not otherwise have permission to carry on any of the activities mentioned in paragraphs (a) to (e);</p></wrapUp></hcontainer><hcontainer name="definition"><content><p>“<term refersTo="#term-investment-firm">investment firm</term>” has the same meaning as in the Banking Act 2009 (see section 258A of that Act), disregarding any order made under section 258A(2)(b) of that Act;</p></content></hcontainer><hcontainer name="definition"><content><p>“<term refersTo="#term-regulated-activity">regulated activity</term>” has the meaning given by section 22 of the Financial Services and Markets Act 2000, taken with Schedule 2 to that Act and any order under that section.</p></content></hcontainer></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Companies that are party to market contracts or subject to market charges, etc</i></heading><paragraph class="schProv1"><num>7</num><subparagraph><num>(1)</num><content><p>A company is excluded from being eligible if it is a party to a market contract for the purposes of Part 7 of the Companies Act 1989 (see section 155 of that Act).</p></content></subparagraph><subparagraph><num>(2)</num><content><p>A company is excluded from being eligible if any of its property is subject to a market charge for the purposes of Part 7 of the Companies Act 1989 (see section 173 of that Act).</p></content></subparagraph><subparagraph><num>(3)</num><content><p>A company is excluded from being eligible if any of its property is subject to a charge that is a system-charge, within the meaning of the Financial Markets and Insolvency Regulations 1996 (S.I. 1996/1469) (see regulation 2 of those Regulations).</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Participants in designated systems</i></heading><paragraph class="schProv1"><num>8</num><intro><p>A company is excluded from being eligible if—</p></intro><level class="para1"><num>(a)</num><content><p>it is a participant in a designated system, within the meaning of the Financial Markets and Insolvency (Settlement Finality) Regulations 1999 (S.I. 1999/2979) (see regulation 2 of those Regulations), or</p></content></level><level class="para1"><num>(b)</num><content><p>any of its property is subject to a collateral security charge within the meaning of those Regulations (see regulation 2 of those Regulations).</p></content></level></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Payment institutions</i></heading><paragraph class="schProv1"><num>9</num><content><p>A company is excluded from being eligible if it is an authorised payment institution, a small payment institution or a registered account information service provider within the meaning of the Payment Services Regulations 2017 (S.I. 2017/752) (see regulation 2 of those Regulations).</p></content></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Operators of payment systems, infrastructure providers etc</i></heading><paragraph class="schProv1"><num>10</num><intro><p>A company is excluded from being eligible if—</p></intro><level class="para1"><num>(a)</num><content><p>it is the operator of a payment system or an infrastructure provider within the meaning of Part 5 of the Financial Services (Banking Reform) Act 2013 (see section 42 of that Act), or</p></content></level><level class="para1"><num>(b)</num><content><p>it is an infrastructure company, within the meaning of Part 6 of that Act (see section 112 of that Act).</p></content></level></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Recognised investment exchanges, clearing houses and CSDs</i></heading><paragraph class="schProv1"><num>11</num><content><p>A company is excluded from being eligible if it is a recognised investment exchange, a recognised clearing house or a recognised CSD within the meaning of the Financial Services and Markets Act 2000 (see section 285 of that Act).</p></content></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Securitisation companies</i></heading><paragraph class="schProv1"><num>12</num><content><p>A company is excluded from being eligible if it is a securitisation company within the meaning of the Taxation of Securitisation Companies Regulations 2006 (S.I. 2006/3296) (see regulation 4 of those Regulations).</p></content></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Parties to capital market arrangements</i></heading><paragraph class="schProv1"><num>13</num><subparagraph><num>(1)</num><intro><p>A company is excluded from being eligible if, on the filing date—</p></intro><level class="para1"><num>(a)</num><content><p>it is a party to an agreement which is or forms part of a capital market arrangement (see sub-paragraph (2)),</p></content></level><level class="para1"><num>(b)</num><content><p>a party has incurred, or when the agreement was entered into was expected to incur, a debt of at least £10 million under the arrangement (at any time during the life of the capital market arrangement), and</p></content></level><level class="para1"><num>(c)</num><content><p>the arrangement involves the issue of a capital market investment (see paragraph 14).</p></content></level></subparagraph><subparagraph><num>(2)</num><intro><p>For the purposes of this paragraph, an arrangement is a “capital market arrangement” if any of the following applies—</p></intro><level class="para1"><num>(a)</num><content><p>it involves a grant of security to a person holding it as trustee for a person who holds a capital market investment issued by a party to the arrangement;</p></content></level><level class="para1"><num>(b)</num><content><p>at least one party guarantees the performance of obligations of another party;</p></content></level><level class="para1"><num>(c)</num><content><p>at least one party provides security in respect of the performance of obligations of another party;</p></content></level><level class="para1"><num>(d)</num><content><p>the arrangement involves an investment of a kind described in articles 83 to 85 of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 (S.I. 2001/544) (options, futures and contracts for differences).</p></content></level></subparagraph><subparagraph><num>(3)</num><intro><p>For the purposes of sub-paragraph (2)—</p></intro><level class="para1"><num>(a)</num><content><p>a reference to holding a security as trustee includes a reference to holding it as nominee or agent,</p></content></level><level class="para1"><num>(b)</num><content><p>a reference to holding for a person who holds a capital market investment includes a reference to holding for a number of persons at least one of whom holds a capital market investment, and</p></content></level><level class="para1"><num>(c)</num><content><p>a reference to holding a capital market investment is to holding a legal or beneficial interest in it.</p></content></level></subparagraph><subparagraph><num>(4)</num><content><p>For the purposes of sub-paragraph (1)(b), where a debt is denominated wholly or partly in a foreign currency, the sterling equivalent is to be calculated as at the time when the arrangement is entered into.</p></content></subparagraph></paragraph><paragraph class="schProv1"><num>14</num><subparagraph><num>(1)</num><content><p>For the purposes of paragraph 13 an investment is a “capital market investment” if condition A or B is met.</p></content></subparagraph><subparagraph><num>(2)</num><intro><p>Condition A is that the investment—</p></intro><level class="para1"><num>(a)</num><content><p>is within article 77 or 77A of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 (S.I. 2001/544) (debt instruments), and</p></content></level><level class="para1"><num>(b)</num><content><p>is rated, listed or traded or designed to be rated, listed or traded.</p></content></level></subparagraph><subparagraph><num>(3)</num><intro><p>In sub-paragraph (2)—</p></intro><hcontainer name="definition"><content><p>“<term refersTo="#term-listed">listed</term>” means admitted to the official list within the meaning given by section 103(1) of the Financial Services and Markets Act 2000 (interpretation);</p></content></hcontainer><hcontainer name="definition"><content><p>“<term refersTo="#term-rated">rated</term>” means rated for the purposes of investment by an internationally recognised rating agency;</p></content></hcontainer><hcontainer name="definition"><content><p>“<term refersTo="#term-traded">traded</term>” means admitted to trading on a market established under the rules of a recognised investment exchange or on a foreign market.</p></content></hcontainer></subparagraph><subparagraph><num>(4)</num><intro><p>In sub-paragraph (3)—</p></intro><hcontainer name="definition"><content><p>“<term refersTo="#term-foreign-market">foreign market</term>” has the same meaning as “<term refersTo="#term-relevant-market">relevant market</term>” in article 67(2) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (S.I. 2005/1529) (foreign markets);</p></content></hcontainer><hcontainer name="definition"><content><p>“<term refersTo="#term-recognised-investment-exchange">recognised investment exchange</term>” has the meaning given by section 285 of the Financial Services and Markets Act 2000 (recognised investment exchange).</p></content></hcontainer></subparagraph><subparagraph><num>(5)</num><intro><p>Condition B is that the investment consists of a bond or commercial paper issued to one or more of the following—</p></intro><level class="para1"><num>(a)</num><content><p>an investment professional within the meaning of article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (S.I. 2005/1529);</p></content></level><level class="para1"><num>(b)</num><content><p>a person who, when the agreement mentioned in paragraph 13(1) is entered into, is a certified high net worth individual in relation to a communication within the meaning of article 48(2) of that Order;</p></content></level><level class="para1"><num>(c)</num><content><p>a person to whom article 49(2) of that Order applies (high net worth company, etc);</p></content></level><level class="para1"><num>(d)</num><content><p>a person who, when the agreement mentioned in paragraph 13(1) is entered into, is a certified sophisticated investor in relation to a communication within the meaning of article 50(1) of that Order;</p></content></level><level class="para1"><num>(e)</num><content><p>a person in a State other than the United Kingdom who under the law of that State is not prohibited from investing in bonds or commercial paper.</p></content></level></subparagraph><subparagraph><num>(6)</num><intro><p>For the purposes of sub-paragraph (5)—</p></intro><level class="para1"><num>(a)</num><intro><p>in applying article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005—</p></intro><level class="para2"><num>(i)</num><content><p>in article 19(5)(b), ignore the words after “exempt person”,</p></content></level><level class="para2"><num>(ii)</num><content><p><mod>in article 19(5)(c)(i), for the words from “the controlled activity” to the end substitute <quotedText>“
a controlled activity
”</quotedText>, and</mod></p></content></level><level class="para2"><num>(iii)</num><content><p>in article 19(5)(e), ignore the words from “where the communication” to the end;</p></content></level></level><level class="para1"><num>(b)</num><content><p>in applying article 49(2) of that Order, ignore article 49(2)(e);</p></content></level><level class="para1"><num>(c)</num><intro><p>“<term refersTo="#term-bond">bond</term>” means—</p></intro><level class="para2"><num>(i)</num><content><p>a bond that is within article 77(1) of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001, or</p></content></level><level class="para2"><num>(ii)</num><content><p>an alternative finance investment bond within the meaning of article 77A of that Order;</p></content></level></level><level class="para1"><num>(d)</num><content><p>“<term refersTo="#term-commercial-paper">commercial paper</term>” has the meaning given by article 9(3) of that Order.</p></content></level></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Public-private partnership project companies</i></heading><paragraph class="schProv1"><num>15</num><subparagraph><num>(1)</num><intro><p>A company is excluded from being eligible if, on the filing date, it is a project company of a project which—</p></intro><level class="para1"><num>(a)</num><content><p>is a public-private partnership project (see paragraph 16), and</p></content></level><level class="para1"><num>(b)</num><content><p>includes step-in rights (see paragraph 17).</p></content></level></subparagraph><subparagraph><num>(2)</num><intro><p>For the purposes of this paragraph a company is a “project company” of a project if any of the following applies—</p></intro><level class="para1"><num>(a)</num><content><p>it holds property for the purpose of the project;</p></content></level><level class="para1"><num>(b)</num><content><p>it has sole or principal responsibility under an agreement for carrying out all or part of the project;</p></content></level><level class="para1"><num>(c)</num><content><p>it is one of a number of companies which together carry out the project;</p></content></level><level class="para1"><num>(d)</num><content><p>it has the purpose of supplying finance to enable the project to be carried out;</p></content></level><level class="para1"><num>(e)</num><content><p>it is the holding company of a company within any of paragraphs (a) to (d).</p></content></level></subparagraph><subparagraph><num>(3)</num><intro><p>But a company is not a “project company” of a project if—</p></intro><level class="para1"><num>(a)</num><content><p>it performs a function within sub-paragraph (2)(a) to (d) or is within sub-paragraph (2)(e), but</p></content></level><level class="para1"><num>(b)</num><intro><p>it also performs a function which is not—</p></intro><level class="para2"><num>(i)</num><content><p>within sub-paragraph (2)(a) to (d),</p></content></level><level class="para2"><num>(ii)</num><content><p>related to a function within sub-paragraph (2)(a) to (d), or</p></content></level><level class="para2"><num>(iii)</num><content><p>related to the project.</p></content></level></level></subparagraph><subparagraph><num>(4)</num><content><p>For the purposes of this paragraph a company carries out all or part of a project whether or not it acts wholly or partly through agents.</p></content></subparagraph></paragraph><paragraph class="schProv1"><num>16</num><subparagraph><num>(1)</num><intro><p>For the purposes of paragraph 15 “<term refersTo="#term-public-private-partnership-project">public-private partnership project</term>” means a project—</p></intro><level class="para1"><num>(a)</num><content><p>the resources for which are provided partly by one or more public bodies and partly by one or more private persons, or</p></content></level><level class="para1"><num>(b)</num><content><p>which is designed wholly or mainly for the purpose of assisting a public body to discharge a function.</p></content></level></subparagraph><subparagraph><num>(2)</num><intro><p>In sub-paragraph (1) “<term refersTo="#term-public-body">public body</term>” means—</p></intro><level class="para1"><num>(a)</num><content><p>a body which exercises public functions,</p></content></level><level class="para1"><num>(b)</num><content><p>a body specified for the purposes of this paragraph by the Secretary of State, or</p></content></level><level class="para1"><num>(c)</num><content><p>a body within a class specified for the purposes of this paragraph by the Secretary of State.</p></content></level></subparagraph><subparagraph><num>(3)</num><intro><p>In sub-paragraph (1)(a) “<term refersTo="#term-resources">resources</term>” includes—</p></intro><level class="para1"><num>(a)</num><content><p>funds (including payment for the provision of services or facilities);</p></content></level><level class="para1"><num>(b)</num><content><p>assets;</p></content></level><level class="para1"><num>(c)</num><content><p>professional skill;</p></content></level><level class="para1"><num>(d)</num><content><p>the grant of a concession or franchise;</p></content></level><level class="para1"><num>(e)</num><content><p>any other commercial resource.</p></content></level></subparagraph><subparagraph><num>(4)</num><intro><p>A specification under sub-paragraph (2) may be—</p></intro><level class="para1"><num>(a)</num><content><p>general, or</p></content></level><level class="para1"><num>(b)</num><content><p>for the purpose of the application of paragraph 15 to a specified case.</p></content></level></subparagraph></paragraph><paragraph class="schProv1"><num>17</num><subparagraph><num>(1)</num><intro><p>For the purposes of paragraph 15 a project has “step-in rights” if a person who provides finance in connection with the project has a conditional entitlement under an agreement to—</p></intro><level class="para1"><num>(a)</num><content><p>assume sole or principal responsibility under an agreement for carrying out all or part of the project, or</p></content></level><level class="para1"><num>(b)</num><content><p>make arrangements for carrying out all or part of the project.</p></content></level></subparagraph><subparagraph><num>(2)</num><content><p>In sub-paragraph (1) a reference to the provision of finance includes a reference to the provision of an indemnity.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Overseas companies with corresponding functions</i></heading><paragraph class="schProv1"><num>18</num><intro><p>A company is excluded from being eligible if its registered office or head office is outside the United Kingdom and—</p></intro><level class="para1"><num>(a)</num><content><p>its functions correspond to those of a company mentioned in any of the previous paragraphs of this Schedule apart from paragraph 2 and, if it were a company registered under the Companies Act 2006 in England and Wales or Scotland, it would be excluded from being eligible by that paragraph, or</p></content></level><level class="para1"><num>(b)</num><content><p>it has entered into a transaction or done anything else that, if done in England and Wales or Scotland by a company registered under the Companies Act 2006 in England and Wales or Scotland, would result in the company being excluded by any of the previous paragraphs of this Schedule apart from paragraph 2.</p></content></level></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Interpretation of Schedule</i></heading><paragraph class="schProv1"><num>19</num><subparagraph><num>(1)</num><content><p>This paragraph applies for the purposes of this Schedule.</p></content></subparagraph><subparagraph><num>(2)</num><intro><p>“<term refersTo="#term-agreement">Agreement</term>” includes any agreement or undertaking effected by—</p></intro><level class="para1"><num>(a)</num><content><p>contract,</p></content></level><level class="para1"><num>(b)</num><content><p>deed, or</p></content></level><level class="para1"><num>(c)</num><content><p>any other instrument intended to have effect in accordance with the law of England and Wales, Scotland or another jurisdiction.</p></content></level></subparagraph><subparagraph><num>(3)</num><content><p>“<term refersTo="#term-the-filing-date">The filing date</term>” means the date on which documents are filed with the court under section A3, A4 or A5.</p></content></subparagraph><subparagraph><num>(4)</num><intro><p>“Party” to an arrangement includes a party to an agreement which—</p></intro><level class="para1"><num>(a)</num><content><p>forms part of the arrangement,</p></content></level><level class="para1"><num>(b)</num><content><p>provides for the raising of finance as part of the arrangement, or</p></content></level><level class="para1"><num>(c)</num><content><p>is necessary for the purposes of implementing the arrangement.</p></content></level></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Powers to amend Schedule</i></heading><paragraph class="schProv1"><num>20</num><subparagraph><num>(1)</num><content><p>The Secretary of State may by regulations amend this Schedule, apart from paragraph 2, so as to alter the circumstances in which a company is “<term refersTo="#term-eligible">eligible</term>” for the purposes of this Part.</p></content></subparagraph><subparagraph><num>(2)</num><content><p>Regulations under this paragraph are subject to the affirmative resolution procedure.</p></content></subparagraph></paragraph><paragraph class="schProv1"><num>21</num><subparagraph><num>(1)</num><intro><p>The Welsh Ministers may by regulations amend this Schedule—</p></intro><level class="para1"><num>(a)</num><content><p>so as to provide that a social landlord registered under Part 1 of the Housing Act 1996 is excluded from being “<term refersTo="#term-eligible">eligible</term>” for the purposes of this Part;</p></content></level><level class="para1"><num>(b)</num><content><p>so as to reverse the effect of any provision made under paragraph (a).</p></content></level></subparagraph><subparagraph><num>(2)</num><content><p>Regulations under this paragraph extend to England and Wales only.</p></content></subparagraph><subparagraph><num>(3)</num><content><p>A statutory instrument containing regulations under this paragraph may not be made unless a draft of the statutory instrument containing them has been laid before and approved by a resolution of Senedd Cymru.</p></content></subparagraph></paragraph><paragraph class="schProv1"><num>22</num><subparagraph><num>(1)</num><intro><p>The Scottish Ministers may by regulations amend this Schedule—</p></intro><level class="para1"><num>(a)</num><content><p>so as to provide that a social landlord registered under Part 2 of the Housing (Scotland) Act 2010 (asp 17) is excluded from being “<term refersTo="#term-eligible">eligible</term>” for the purposes of this Part;</p></content></level><level class="para1"><num>(b)</num><content><p>so as to reverse the effect of any provision made under paragraph (a).</p></content></level></subparagraph><subparagraph><num>(2)</num><content><p>Regulations under this paragraph extend to Scotland only.</p></content></subparagraph><subparagraph><num>(3)</num><content><p>Regulations under this paragraph are subject to the affirmative procedure (see section 29 of the Interpretation and Legislative Reform (Scotland) Act 2010 (asp 10)).</p></content></subparagraph></paragraph></hcontainer></hcontainer></quotedStructure></mod></p></content></hcontainer></hcontainer><hcontainer name="schedule" eId="schedule-2"><num>SCHEDULE 2<authorialNote class="referenceNote"><p>
Section 1(3)</p></authorialNote></num><heading>Moratoriums in Great Britain: contracts involving financial services</heading><hcontainer name="crossheading" class="schGroup7" eId="schedule-2-paragraph-wrapper2n1"><heading/><content><p>In the Insolvency Act 1986, after Schedule ZA1 (inserted by Schedule 1 to this Act) insert—</p><p><mod><quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="unknown" ukl:TargetClass="unknown" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="default"><hcontainer name="schedule"><num>SCHEDULE ZA2<authorialNote class="referenceNote"><p>
Section A18</p></authorialNote></num><heading>Moratorium: contract or other instrument involving financial services</heading><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Introductory</i></heading><paragraph class="schProv1"><num>1</num><content><p>For the purposes of section A18 “<term refersTo="#term-contract-or-other-instrument-involving-financial-services">contract or other instrument involving financial services</term>” means a contract or other instrument to which any of the following paragraphs applies.</p></content></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Financial contracts</i></heading><paragraph class="schProv1"><num>2</num><subparagraph><num>(1)</num><content><p>This paragraph applies to a financial contract.</p></content></subparagraph><subparagraph><num>(2)</num><intro><p>“<term refersTo="#term-financial-contract">Financial contract</term>” means—</p></intro><level class="para1"><num>(a)</num><intro><p>a contract for the provision of financial services consisting of—</p></intro><level class="para2"><num>(i)</num><content><p>lending (including the factoring and financing of commercial transactions),</p></content></level><level class="para2"><num>(ii)</num><content><p>financial leasing, or</p></content></level><level class="para2"><num>(iii)</num><content><p>providing guarantees or commitments;</p></content></level></level><level class="para1"><num>(b)</num><intro><p>a securities contract, including—</p></intro><level class="para2"><num>(i)</num><content><p>a contract for the purchase, sale or loan of a security, group or index of securities;</p></content></level><level class="para2"><num>(ii)</num><content><p>an option on a security or group or index of securities;</p></content></level><level class="para2"><num>(iii)</num><content><p>a repurchase or reverse repurchase transaction on any such security, group or index;</p></content></level></level><level class="para1"><num>(c)</num><intro><p>a commodities contract, including—</p></intro><level class="para2"><num>(i)</num><content><p>a contract for the purchase, sale or loan of a commodity or group or index of commodities for future delivery;</p></content></level><level class="para2"><num>(ii)</num><content><p>an option on a commodity or group or index of commodities;</p></content></level><level class="para2"><num>(iii)</num><content><p>a repurchase or reverse repurchase transaction on any such commodity, group or index;</p></content></level></level><level class="para1"><num>(d)</num><content><p>a futures or forwards contract, including a contract (other than a commodities contract) for the purchase, sale or transfer of a commodity or property of any other description, service, right or interest for a specified price at a future date;</p></content></level><level class="para1"><num>(e)</num><intro><p>a swap agreement, including—</p></intro><level class="para2"><num>(i)</num><content><p>a swap or option relating to interest rates, spot or other foreign exchange agreements, currency, an equity index or equity, a debt index or debt, commodity indexes or commodities, weather, emissions or inflation;</p></content></level><level class="para2"><num>(ii)</num><content><p>a total return, credit spread or credit swap;</p></content></level><level class="para2"><num>(iii)</num><content><p>any agreement or transaction that is similar to an agreement that is referred to in sub-paragraph (i) or (ii) and is the subject of recurrent dealing in the swaps or derivatives markets;</p></content></level></level><level class="para1"><num>(f)</num><content><p>an inter-bank borrowing agreement where the term of the borrowing is three months or less;</p></content></level><level class="para1"><num>(g)</num><content><p>a master agreement for any of the contracts or agreements referred to in paragraphs (a) to (f).</p></content></level></subparagraph><subparagraph><num>(3)</num><intro><p>For the purposes of this paragraph “<term refersTo="#term-commodities">commodities</term>” includes—</p></intro><level class="para1"><num>(a)</num><content><p>units recognised for compliance with the requirements of EU Directive <ref eId="c00001" href="http://www.legislation.gov.uk/european/directive/2003/0087">2003/87/EC</ref> establishing a scheme for greenhouse gas emission allowance trading,</p></content></level><level class="para1"><num>(b)</num><content><p>allowances under paragraph 5 of Schedule 2 to the Climate Change Act 2008 relating to a trading scheme dealt with under Part 1 of that Schedule (schemes limiting activities relating to emissions of greenhouse gas), and</p></content></level><level class="para1"><num>(c)</num><intro><p>renewables obligation certificates issued—</p></intro><level class="para2"><num>(i)</num><content><p>by the Gas and Electricity Markets Authority under an order made under section 32B of the Electricity Act 1989, or</p></content></level><level class="para2"><num>(ii)</num><content><p>by the Northern Ireland Authority for Utility Regulation under the Energy (Northern Ireland) Order 2003 (S.I. 2003/419 (N.I. 6)) and pursuant to an order made under Articles 52 to 55F of that Order.</p></content></level></level></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Securities financing transactions</i></heading><paragraph class="schProv1"><num>3</num><subparagraph><num>(1)</num><intro><p>This paragraph applies to—</p></intro><level class="para1"><num>(a)</num><content><p>a securities financing transaction, and</p></content></level><level class="para1"><num>(b)</num><content><p>a master agreement for securities financing transactions.</p></content></level></subparagraph><subparagraph><num>(2)</num><content><p>“<term refersTo="#term-securities-financing-transaction">Securities financing transaction</term>” has the meaning given by Article 3(11) of <ref href="http://www.legislation.gov.uk/european/regulation/2015/2365">Regulation (EU) 2015/2365</ref> on the transparency of securities financing transactions.</p></content></subparagraph><subparagraph><num>(3)</num><content><p>But for the purposes of that Article as it applies for the purposes of this paragraph, references to “commodities” in that Regulation are to be taken as including the units, allowances and certificates referred to in paragraph 2(3)(a), (b) and (c).</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Derivatives</i></heading><paragraph class="schProv1"><num>4</num><subparagraph><num>(1)</num><intro><p>This paragraph applies to—</p></intro><level class="para1"><num>(a)</num><content><p>a derivative, and</p></content></level><level class="para1"><num>(b)</num><content><p>a master agreement for derivatives.</p></content></level></subparagraph><subparagraph><num>(2)</num><content><p>“<term refersTo="#term-derivative">Derivative</term>” has the meaning given by Article 2(5) of <ref href="http://www.legislation.gov.uk/european/regulation/2012/0648">Regulation (EU) No. 648/2012</ref>.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Spot contracts</i></heading><paragraph class="schProv1"><num>5</num><subparagraph><num>(1)</num><intro><p>This paragraph applies to—</p></intro><level class="para1"><num>(a)</num><content><p>a spot contract, and</p></content></level><level class="para1"><num>(b)</num><content><p>a master agreement for spot contracts.</p></content></level></subparagraph><subparagraph><num>(2)</num><content><p>“<term refersTo="#term-spot-contract">Spot contract</term>” has the meaning given by Article 7(2) or 10(2) of Commission Delegated Regulation of 25.4.2016 supplementing <ref href="http://www.legislation.gov.uk/european/directive/2014/0065">Directive 2014/65/EU</ref> of the European Parliament and of the Council as regards organisational requirements and operating conditions for investment firms and defined terms for the purposes of that Directive.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Capital market investments</i></heading><paragraph class="schProv1"><num>6</num><subparagraph><num>(1)</num><content><p>This paragraph applies to an agreement which is, or forms part of, an arrangement involving the issue of a capital market investment.</p></content></subparagraph><subparagraph><num>(2)</num><content><p>“<term refersTo="#term-capital-market-investment">Capital market investment</term>” has the meaning given by paragraph 14 of Schedule ZA1.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Contracts forming part of a public-private partnership</i></heading><paragraph class="schProv1"><num>7</num><content><p>This paragraph applies to a contract forming part of a public-private partnership project within the meaning given by paragraph 16 of Schedule ZA1.</p></content></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Market contracts</i></heading><paragraph class="schProv1"><num>8</num><content><p>This paragraph applies to a market contract within the meaning of Part 7 of the Companies Act 1989 (see section 155 of that Act).</p></content></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Qualifying collateral arrangements and qualifying property transfers</i></heading><paragraph class="schProv1"><num>9</num><content><p>This paragraph applies to qualifying collateral arrangements and qualifying property transfers within the meaning of Part 7 of the Companies Act 1989 (see section 155A of that Act).</p></content></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Contracts secured by certain charges or arrangements</i></heading><paragraph class="schProv1"><num>10</num><intro><p>This paragraph applies to a contract where any obligation under the contract is—</p></intro><level class="para1"><num>(a)</num><content><p>secured by a market charge within the meaning of Part 7 of the Companies Act 1989 (see section 173 of that Act),</p></content></level><level class="para1"><num>(b)</num><content><p>secured by a system-charge within the meaning of the Financial Markets and Insolvency Regulations 1996 (S.I. 1996/1469) (see regulation 2 of those Regulations), or</p></content></level><level class="para1"><num>(c)</num><content><p>secured or otherwise covered by a financial collateral arrangement within the meaning of the Financial Collateral Arrangements (No. 2) Regulations 2003 (S.I. 2003/3226) (see regulation 3 of those Regulations).</p></content></level></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Default arrangements and transfer orders</i></heading><paragraph class="schProv1"><num>11</num><content><p>This paragraph applies to a contract which is included in default arrangements, or a transfer order, within the meaning of the Financial Markets and Insolvency (Settlement Finality) Regulations 1999 (S.I. 1999/2979) (see regulation 2 of those Regulations).</p></content></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Card-based payment transactions</i></heading><paragraph class="schProv1"><num>12</num><content><p>This paragraph applies to a contract to accept and process card-based payment transactions within the meaning given by <ref href="http://www.legislation.gov.uk/european/regulation/2015/0751">Regulation (EU) 2015/751</ref> of the European Parliament and of the Council of 29th April 2015 on interchange fees for card-based payment transactions.</p></content></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Power to amend Schedule</i></heading><paragraph class="schProv1"><num>13</num><subparagraph><num>(1)</num><content><p>The Secretary of State may by regulations amend this Schedule so as to change the meaning of “<term refersTo="#term-contract-or-other-instrument-involving-financial-services">contract or other instrument involving financial services</term>” for the purposes of section A18.</p></content></subparagraph><subparagraph><num>(2)</num><content><p>Regulations under this paragraph are subject to the affirmative resolution procedure.</p></content></subparagraph></paragraph></hcontainer></hcontainer></quotedStructure></mod></p></content></hcontainer></hcontainer><hcontainer name="schedule" eId="schedule-3"><num>SCHEDULE 3<authorialNote class="referenceNote"><p>
Section 2</p></authorialNote></num><heading>Moratoriums in Great Britain: further amendments</heading><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-3-crossheading-insolvency-act-1986"><heading><i>Insolvency Act 1986</i></heading><paragraph eId="schedule-3-paragraph-1" class="schProv1"><num>1</num><content><p>The Insolvency Act 1986 is amended as follows.</p></content></paragraph><paragraph eId="schedule-3-paragraph-2" class="schProv1"><num>2</num><content><p>Omit section 1A (moratorium where directors propose voluntary arrangement).</p></content></paragraph><paragraph eId="schedule-3-paragraph-3" class="schProv1"><num>3</num><content><p>In section 2 (procedure where nominee is not the liquidator or administrator), in subsection (1), omit from “and the directors” to the end.</p></content></paragraph><paragraph eId="schedule-3-paragraph-4" class="schProv1"><num>4</num><subparagraph eId="schedule-3-paragraph-4-1"><num>(1)</num><content><p>Section 4 (decision of the company and its creditors in relation to voluntary arrangement) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-3-paragraph-4-2"><num>(2)</num><content><p><mod>After subsection (4) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="default"><subsection><num>(4A)</num><intro><p>Subject to subsection (4B), where the nominee's report under section 2(2) is submitted to the court before the end of the period of 12 weeks beginning with the day after the end of any moratorium for the company under Part A1, neither the company nor its creditors may approve any proposal or modification under which the following are to be paid otherwise than in full—</p></intro><level class="para1"><num>(a)</num><content><p>moratorium debts (within the meaning given by section 174A);</p></content></level><level class="para1"><num>(b)</num><content><p>priority pre-moratorium debts (within the meaning given by section 174A).</p></content></level></subsection><subsection><num>(4B)</num><content><p>Subsection (4A) does not prevent the approval of such a proposal or modification with the concurrence of the creditor concerned.</p></content></subsection></quotedStructure></mod></p></content></subparagraph></paragraph><paragraph eId="schedule-3-paragraph-5" class="schProv1"><num>5</num><subparagraph eId="schedule-3-paragraph-5-1"><num>(1)</num><content><p>Section 4A (approval of voluntary arrangement) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-3-paragraph-5-2"><num>(2)</num><content><p><mod>In subsection (2)(b), for “(4)” substitute <quotedText>“
(6)
”</quotedText>.</mod></p></content></subparagraph><subparagraph eId="schedule-3-paragraph-5-3"><num>(3)</num><content><p><mod>In subsection (5), for “within the meaning given by paragraph 44 of Schedule A1” substitute <quotedText>“
as defined by section A49(13)
”</quotedText>.</mod></p></content></subparagraph><subparagraph eId="schedule-3-paragraph-5-4"><num>(4)</num><content><p><mod>In subsection (5A), for “within the meaning of paragraph 44 of Schedule A1” substitute <quotedText>“
as defined by section A49(13)
”</quotedText>.</mod></p></content></subparagraph></paragraph><paragraph eId="schedule-3-paragraph-6" class="schProv1"><num>6</num><subparagraph eId="schedule-3-paragraph-6-1"><num>(1)</num><content><p>Section 5 (effect of approval of voluntary arrangement) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-3-paragraph-6-2"><num>(2)</num><content><p><mod>After subsection (3) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="default"><subsection><num>(3A)</num><content><p>Where immediately before the voluntary arrangement took effect a moratorium for the company was in force under Part A1 and a petition for the winding up of the company, other than an excepted petition within the meaning of section A20, was presented before the beginning of the moratorium, the court must dismiss the petition.</p></content></subsection></quotedStructure></mod></p></content></subparagraph><subparagraph eId="schedule-3-paragraph-6-3"><num>(3)</num><content><p><mod>In subsection (4) after “subsection (3)(a)” insert <quotedText>“
or dismiss a petition under subsection (3A)
”</quotedText>.</mod></p></content></subparagraph></paragraph><paragraph eId="schedule-3-paragraph-7" class="schProv1"><num>7</num><subparagraph eId="schedule-3-paragraph-7-1"><num>(1)</num><content><p>Section 7A (prosecution of delinquent officers of company) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-3-paragraph-7-2"><num>(2)</num><content><p><mod>For subsection (1) substitute—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="default"><subsection><num>(1)</num><content><p>This section applies where the approval of a voluntary arrangement in relation to a company has taken effect under section 4A.</p></content></subsection></quotedStructure></mod></p></content></subparagraph><subparagraph eId="schedule-3-paragraph-7-3"><num>(3)</num><intro><p>In subsection (2)—</p></intro><level class="para1" eId="schedule-3-paragraph-7-3-a"><num>(a)</num><content><p><mod>for the words before paragraph (a) substitute <quotedText>“
If it appears to the supervisor that any past or present officer of the company has committed an offence in connection with the voluntary arrangement, the supervisor must forthwith
”</quotedText>;</mod></p></content></level><level class="para1" eId="schedule-3-paragraph-7-3-b"><num>(b)</num><content><p>in paragraph (b), omit “nominee or”.</p></content></level></subparagraph><subparagraph eId="schedule-3-paragraph-7-4"><num>(4)</num><content><p>In subsection (8), omit “nominee or”.</p></content></subparagraph></paragraph><paragraph eId="schedule-3-paragraph-8" class="schProv1"><num>8</num><intro><p>In section 7B (arrangements coming to an end prematurely) omit—</p></intro><level class="para1" eId="schedule-3-paragraph-8-a"><num>(a)</num><content><p>“or paragraph 36 of Schedule A1”;</p></content></level><level class="para1" eId="schedule-3-paragraph-8-b"><num>(b)</num><content><p>“or, as the case may be, paragraph 37(2)(b)(i) of Schedule A1”.</p></content></level></paragraph><paragraph eId="schedule-3-paragraph-9" class="schProv1"><num>9</num><content><p><mod>In section 115 (expenses of voluntary winding up), at the beginning insert <quotedText>“
After the payment of any liabilities to which section 174A applies,
”</quotedText>.</mod></p></content></paragraph><paragraph eId="schedule-3-paragraph-10" class="schProv1"><num>10</num><content><p>In section 122 (circumstances in which company may be wound up by the court), in subsection (1), omit paragraph (fa).</p></content></paragraph><paragraph eId="schedule-3-paragraph-11" class="schProv1"><num>11</num><content><p>In section 124 (winding up by the court), omit subsection (3A).</p></content></paragraph><paragraph eId="schedule-3-paragraph-12" class="schProv1"><num>12</num><content><p><mod>In section 127 (avoidance of property dispositions etc), after subsection (2) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="default"><subsection><num>(3)</num><content><p>This section has no effect in respect of anything done during a moratorium under Part A1, or during a period mentioned in section 5(4)(a) following the end of a moratorium, where the winding-up order was made on a petition presented before the moratorium begins, unless the petition was presented under section 367 of the Financial Services and Markets Act 2000 on the ground mentioned in section 367(3)(b) of that Act.</p></content></subsection></quotedStructure></mod></p></content></paragraph><paragraph eId="schedule-3-paragraph-13" class="schProv1"><num>13</num><content><p><mod>Before section 175 (and before the italic heading “Preferential debts” above that section) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="unknown" uk:docName="unknown" ukl:TargetClass="unknown" ukl:TargetSubClass="unknown" ukl:Context="unknown" ukl:Format="default"><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Moratorium: order of priority of payment of debts</i></heading><section><num>174A</num><heading>Moratorium debts etc: priority</heading><subsection><num>(1)</num><content><p>This section applies where proceedings for the winding up of a company are begun before the end of the period of 12 weeks beginning with the day after the end of any moratorium for the company under Part A1.</p></content></subsection><subsection><num>(2)</num><intro><p>In the winding up, the following are payable out of the company's assets (in the order of priority shown) in preference to all other claims—</p></intro><level class="para1"><num>(a)</num><content><p>any prescribed fees or expenses of the official receiver acting in any capacity in relation to the company;</p></content></level><level class="para1"><num>(b)</num><content><p>moratorium debts and priority pre-moratorium debts.</p></content></level></subsection><subsection><num>(3)</num><intro><p>In subsection (2)(b) “<term refersTo="#term-priority-pre-moratorium-debt">priority pre-moratorium debt</term>” means—</p></intro><level class="para1"><num>(a)</num><intro><p>any pre-moratorium debt that is payable in respect of—</p></intro><level class="para2"><num>(i)</num><content><p>the monitor's remuneration or expenses,</p></content></level><level class="para2"><num>(ii)</num><content><p>goods or services supplied during the moratorium,</p></content></level><level class="para2"><num>(iii)</num><content><p>rent in respect of a period during the moratorium, or</p></content></level><level class="para2"><num>(iv)</num><content><p>wages or salary arising under a contract of employment, so far as relating to a period of employment before or during the moratorium,</p></content></level></level><level class="para1"><num>(b)</num><intro><p>any pre-moratorium debt that—</p></intro><level class="para2"><num>(i)</num><content><p>consists of a liability to make a redundancy payment, and</p></content></level><level class="para2"><num>(ii)</num><content><p>fell due before or during the moratorium, and</p></content></level></level><level class="para1"><num>(c)</num><intro><p>any pre-moratorium debt that—</p></intro><level class="para2"><num>(i)</num><content><p>arises under a contract or other instrument involving financial services,</p></content></level><level class="para2"><num>(ii)</num><content><p>fell due before or during the moratorium, and</p></content></level><level class="para2"><num>(iii)</num><content><p>is not relevant accelerated debt (see subsection (4)).</p></content></level></level></subsection><subsection><num>(4)</num><intro><p>For the purposes of subsection (3)(c)—</p></intro><hcontainer name="definition"><content><p>“<term refersTo="#term-relevant-accelerated-debt">relevant accelerated debt</term>” means any pre-moratorium debt that fell due during the relevant period by reason of the operation of, or the exercise of rights under, an acceleration or early termination clause in a contract or other instrument involving financial services;</p></content></hcontainer><hcontainer name="definition"><intro><p>“<term refersTo="#term-the-relevant-period">the relevant period</term>” means the period—</p></intro><level class="para1"><num>(a)</num><content><p>beginning with the day on which the statement under section A6(1)(e) is made, and</p></content></level><level class="para1"><num>(b)</num><content><p>ending with the last day of the moratorium.</p></content></level></hcontainer></subsection><subsection><num>(5)</num><content><p>The rules may make provision as to the order in which the debts mentioned in subsection (2)(b) rank among themselves in a case where the assets of the company are insufficient to meet them in full.</p></content></subsection><subsection><num>(6)</num><content><p>The Secretary of State may by regulations made by statutory instrument amend this section for the purposes of changing the definition of “moratorium debt” or “priority pre-moratorium debt” in this section.</p></content></subsection><subsection><num>(7)</num><content><p>Regulations under subsection (6) may make consequential, supplementary, incidental or transitional provision or savings.</p></content></subsection><subsection><num>(8)</num><content><p>A statutory instrument containing regulations under subsection (6) may not be made unless a draft of the instrument has been laid before and approved by a resolution of each House of Parliament.</p></content></subsection><subsection><num>(9)</num><intro><p>For the purposes of this section proceedings for the winding up of a company are begun when—</p></intro><level class="para1"><num>(a)</num><content><p>a winding-up petition is presented, or</p></content></level><level class="para1"><num>(b)</num><content><p>a resolution for voluntary winding up is passed.</p></content></level></subsection><subsection><num>(10)</num><content><p>Any rules made under section A18(4) (meaning of supply of goods or services) apply also for the purposes of subsection (3)(a)(ii) of this section.</p></content></subsection><subsection><num>(11)</num><intro><p>In this section—</p></intro><hcontainer name="definition"><intro><p>“<term refersTo="#term-acceleration-or-early-termination-clause">acceleration or early termination clause</term>”, in relation to a contract or other instrument involving financial services, means a provision of the contract or other instrument—</p></intro><level class="para1"><num>(a)</num><content><p>under which, on the happening of an event—</p><blockList class="ordered roman parens" ukl:Name="OrderedList" ukl:Type="roman" ukl:Decoration="parens"><item><num>(i)</num><p>a debt or other liability falls due earlier than it otherwise would, or</p></item><item><num>(ii)</num><p>a debt or other liability is terminated and replaced by another debt or liability, or</p></item></blockList></content></level><level class="para1"><num>(b)</num><content><p>which confers on a party a right which, if exercised, will result in —</p><blockList class="ordered roman parens" ukl:Name="OrderedList" ukl:Type="roman" ukl:Decoration="parens"><item><num>(i)</num><p>a debt or other liability falling due earlier than it otherwise would, or</p></item><item><num>(ii)</num><p>a debt or other liability being terminated and replaced by another debt or liability;</p></item></blockList></content></level></hcontainer><hcontainer name="definition"><content><p>“<term refersTo="#term-contract-or-other-instrument-involving-financial-services">contract or other instrument involving financial services</term>” has the same meaning as it has for the purposes of section A18 (see Schedule ZA2);</p></content></hcontainer><hcontainer name="definition"><content><p>“<term refersTo="#term-monitor's-remuneration-or-expenses">monitor's remuneration or expenses</term>” has the meaning given by section A18;</p></content></hcontainer><hcontainer name="definition"><content><p>“<term refersTo="#term-moratorium-debt">moratorium debt</term>” has the meaning given by section A53;</p></content></hcontainer><hcontainer name="definition"><content><p>“<term refersTo="#term-pre-moratorium-debt">pre-moratorium debt</term>” has the meaning given by section A53;</p></content></hcontainer><hcontainer name="definition"><content><p>“<term refersTo="#term-redundancy-payment">redundancy payment</term>” has the meaning given by section A18;</p></content></hcontainer><hcontainer name="definition"><content><p>“<term refersTo="#term-wages-or-salary">wages or salary</term>” has the meaning given by section A18.</p></content></hcontainer></subsection></section></hcontainer></quotedStructure></mod></p></content></paragraph><paragraph eId="schedule-3-paragraph-14" class="schProv1"><num>14</num><subparagraph eId="schedule-3-paragraph-14-1"><num>(1)</num><content><p>Section 175 (preferential debts: general provision) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-3-paragraph-14-2"><num>(2)</num><content><p><mod>In subsection (1), at the end insert<quotedText startQuote="“">after the payment of—
</quotedText><quotedStructure endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="default"><level class="para1"><num>(a)</num><content><p>any liabilities to which section 174A applies, and</p></content></level><level class="para1"><num>(b)</num><content><p>expenses of the winding up.</p></content></level></quotedStructure></mod></p></content></subparagraph><subparagraph eId="schedule-3-paragraph-14-3"><num>(3)</num><content><p>In subsection (1A), omit “after the expenses of the winding up”.</p></content></subparagraph></paragraph><paragraph eId="schedule-3-paragraph-15" class="schProv1"><num>15</num><subparagraph eId="schedule-3-paragraph-15-1"><num>(1)</num><content><p>Section 233 (supplies of gas, water, electricity etc) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-3-paragraph-15-2"><num>(2)</num><intro><p>In subsection (1)—</p></intro><level class="para1" eId="schedule-3-paragraph-15-2-a"><num>(a)</num><content><p>omit paragraph (ba);</p></content></level><level class="para1" eId="schedule-3-paragraph-15-2-b"><num>(b)</num><content><p>in the words after paragraph (e), omit “the nominee,”.</p></content></level></subparagraph><subparagraph eId="schedule-3-paragraph-15-3"><num>(3)</num><content><p>In subsection (4), omit paragraph (ba).</p></content></subparagraph></paragraph><paragraph eId="schedule-3-paragraph-16" class="schProv1"><num>16</num><intro><p>In section 246ZD (power to assign certain causes of action), in subsection (2)—</p></intro><level class="para1" eId="schedule-3-paragraph-16-a"><num>(a)</num><content><p><mod>after “under” insert <quotedText>“
or by virtue of
”</quotedText>;</mod></p></content></level><level class="para1" eId="schedule-3-paragraph-16-b"><num>(b)</num><content><p><mod>before paragraph (a) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="unknown" uk:docName="unknown" ukl:TargetClass="unknown" ukl:TargetSubClass="unknown" ukl:Context="unknown" ukl:Format="default"><level class="para1"><num>(za)</num><content><p>section A43 (challenges to monitor remuneration in subsequent insolvency proceedings);</p></content></level></quotedStructure><inline name="appendText">.</inline></mod></p></content></level></paragraph><paragraph eId="schedule-3-paragraph-17" class="schProv1"><num>17</num><content><p><mod>In section 246A (remote attendance at meetings), in subsection (10), before paragraph (a) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="default"><level class="para1"><num>(za)</num><content><p>the monitor in relation to a moratorium under Part A1,</p></content></level></quotedStructure><inline name="appendText">.</inline></mod></p></content></paragraph><paragraph eId="schedule-3-paragraph-18" class="schProv1"><num>18</num><content><p><mod>In section 246B (use of websites), in subsection (3), before paragraph (a) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="default"><level class="para1"><num>(za)</num><content><p>the monitor in relation to a moratorium under Part A1,</p></content></level></quotedStructure><inline name="appendText">.</inline></mod></p></content></paragraph><paragraph eId="schedule-3-paragraph-19" class="schProv1"><num>19</num><content><p><mod>In section 247 (meaning of “insolvency” etc), in subsection (1), after “includes” insert <quotedText>“
the coming into force of a moratorium for the company under Part A1,
”</quotedText>.</mod></p></content></paragraph><paragraph eId="schedule-3-paragraph-20" class="schProv1"><num>20</num><content><p>In section 387 (“<term refersTo="#term-the-relevant-date" eId="term-the-relevant-date">the relevant date</term>” in relation to preferential debts), omit subsection (2A).</p></content></paragraph><paragraph eId="schedule-3-paragraph-21" class="schProv1"><num>21</num><subparagraph eId="schedule-3-paragraph-21-1"><num>(1)</num><content><p>Section 388 (meaning of “act as insolvency practitioner”) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-3-paragraph-21-2"><num>(2)</num><content><p><mod>In subsection (1)(a), for “or administrative receiver” substitute <quotedText>“
, administrative receiver or monitor
”</quotedText>.</mod></p></content></subparagraph><subparagraph eId="schedule-3-paragraph-21-3"><num>(3)</num><content><p><mod>In subsection (4), at the appropriate place insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="default"><p>“<term refersTo="#term-monitor">monitor</term>” has the same meaning as in Part A1 (moratorium);</p></quotedStructure><inline name="appendText">.</inline></mod></p></content></subparagraph></paragraph><paragraph eId="schedule-3-paragraph-22" class="schProv1"><num>22</num><subparagraph eId="schedule-3-paragraph-22-1"><num>(1)</num><content><p>Section 411 (company insolvency rules) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-3-paragraph-22-2"><num>(2)</num><content><p><mod>In subsection (1), in the words after paragraph (b), for “Parts I” substitute <quotedText>“
Parts A1
”</quotedText>.</mod></p></content></subparagraph><subparagraph eId="schedule-3-paragraph-22-3"><num>(3)</num><content><p><mod>In subsection (3), for “Parts I” substitute <quotedText>“
Parts A1
”</quotedText>.</mod></p></content></subparagraph></paragraph><paragraph eId="schedule-3-paragraph-23" class="schProv1"><num>23</num><subparagraph eId="schedule-3-paragraph-23-1"><num>(1)</num><content><p>Section 414 (fees orders) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-3-paragraph-23-2"><num>(2)</num><content><p><mod>In subsection (1)(a), for “Parts I” substitute <quotedText>“
Parts A1
”</quotedText>.</mod></p></content></subparagraph><subparagraph eId="schedule-3-paragraph-23-3"><num>(3)</num><content><p><mod>In subsection (8), for “Parts I” substitute <quotedText>“
Parts A1
”</quotedText>.</mod></p></content></subparagraph></paragraph><paragraph eId="schedule-3-paragraph-24" class="schProv1"><num>24</num><content><p><mod>Before section 416 (monetary limits (companies winding up)) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="unknown" uk:docName="unknown" ukl:TargetClass="unknown" ukl:TargetSubClass="unknown" ukl:Context="unknown" ukl:Format="default"><section><num>415B</num><heading>Monetary limits (company moratorium)</heading><subsection><num>(1)</num><intro><p>The Secretary of State may by regulations increase or reduce any of the money sums for the time being specified in the following provisions of Part A1—</p></intro><level class="para1"><num>(a)</num><content><p>section A25(1) (maximum amount of credit which company may obtain without disclosing moratorium);</p></content></level><level class="para1"><num>(b)</num><content><p>section A28(2) (maximum amount for certain payments without obtaining monitor consent etc);</p></content></level><level class="para1"><num>(c)</num><content><p>section A46(2) (minimum value of company property concealed or fraudulently removed, affecting criminal liability of company's officer).</p></content></level></subsection><subsection><num>(2)</num><content><p>Regulations under this section may contain such transitional provisions as may appear to the Secretary of State necessary or expedient.</p></content></subsection><subsection><num>(3)</num><content><p>Regulations under this section are to be made by statutory instrument subject to annulment in pursuance of a resolution of either House of Parliament.</p></content></subsection></section></quotedStructure></mod></p></content></paragraph><paragraph eId="schedule-3-paragraph-25" class="schProv1"><num>25</num><content><p>Omit section 417A (money sums: company moratorium).</p></content></paragraph><paragraph eId="schedule-3-paragraph-26" class="schProv1"><num>26</num><content><p><mod>In section 430 (provision introducing Schedule of punishments), after subsection (4) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="default"><subsection><num>(4A)</num><content><p>In relation to an offence committed before section 154(1) of the Criminal Justice Act 2003 comes into force, a reference in Schedule 10 to 12 months on summary conviction in England and Wales is to be read as a reference to 6 months.</p></content></subsection></quotedStructure></mod></p></content></paragraph><paragraph eId="schedule-3-paragraph-27" class="schProv1"><num>27</num><content><p><mod>In section 431 (summary proceedings), in subsection (1), for “Parts I” substitute <quotedText>“
Parts A1
”</quotedText>.</mod></p></content></paragraph><paragraph eId="schedule-3-paragraph-28" class="schProv1"><num>28</num><intro><p>In section 432 (offences by bodies corporate), in subsection (4)—</p></intro><level class="para1" eId="schedule-3-paragraph-28-a"><num>(a)</num><content><p><mod>after “sections” insert <quotedText>“
A19(5), A25(3), A26(4), A27(1), A28(5), A29(6), A30(2), A31(10), A32(4),
”</quotedText>;</mod></p></content></level><level class="para1" eId="schedule-3-paragraph-28-b"><num>(b)</num><content><p>omit from “and those under” to the end.</p></content></level></paragraph><paragraph eId="schedule-3-paragraph-29" class="schProv1"><num>29</num><content><p><mod>In section 434 (Crown application), after “Insolvency Act 1985” insert <quotedText>“
and Part A1
”</quotedText>.</mod></p></content></paragraph><paragraph eId="schedule-3-paragraph-30" class="schProv1"><num>30</num><content><p>Omit Schedule A1 (moratorium where directors propose voluntary arrangement).</p></content></paragraph><paragraph eId="schedule-3-paragraph-31" class="schProv1"><num>31</num><subparagraph eId="schedule-3-paragraph-31-1"><num>(1)</num><content><p>Schedule B1 (administration) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-3-paragraph-31-2"><num>(2)</num><content><p>Omit paragraph 24.</p></content></subparagraph><subparagraph eId="schedule-3-paragraph-31-3"><num>(3)</num><content><p><mod>Before paragraph 65 (but after the italic heading “Distribution”) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="unknown" uk:docName="unknown" ukl:TargetClass="unknown" ukl:TargetSubClass="unknown" ukl:Context="unknown" ukl:Format="default"><section><num>64A</num><subsection><num>(1)</num><content><p>This paragraph applies where a company enters administration before the end of the period of 12 weeks beginning with the day after the end of any moratorium for the company under Part A1.</p></content></subsection><subsection><num>(2)</num><intro><p>The administrator must make a distribution to the creditors of the company in respect of—</p></intro><level class="para1"><num>(a)</num><content><p>moratorium debts (within the meaning given by section 174A), and</p></content></level><level class="para1"><num>(b)</num><content><p>priority pre-moratorium debts (within the meaning given by section 174A).</p></content></level></subsection><subsection><num>(3)</num><intro><p>A sum payable under sub-paragraph (2) is to be paid in priority to—</p></intro><level class="para1"><num>(a)</num><content><p>any security to which paragraph 70 applies or paragraph 115(1) applies;</p></content></level><level class="para1"><num>(b)</num><content><p>any sums payable under paragraph 99.</p></content></level></subsection><subsection><num>(4)</num><content><p>The administrator must realise any property necessary to comply with sub-paragraph (2).</p></content></subsection><subsection><num>(5)</num><content><p>The rules may make provision as to the order in which the moratorium and priority pre-moratorium debts rank among themselves for the purposes of this paragraph in a case where the assets of the company are insufficient to meet them in full.</p></content></subsection></section></quotedStructure></mod></p></content></subparagraph><subparagraph eId="schedule-3-paragraph-31-4"><num>(4)</num><content><p><mod>In paragraph 65, for sub-paragraph (1) substitute—<quotedStructure startQuote="“" endQuote="”" uk:context="unknown" uk:docName="unknown" ukl:TargetClass="unknown" ukl:TargetSubClass="unknown" ukl:Context="unknown" ukl:Format="default"><subsection><num>(1)</num><content><p>If the assets of a company are sufficient to meet any debts or other liabilities payable under paragraph 64A in full, the administrator of the company may make a distribution to any other creditor of the company.</p></content></subsection></quotedStructure></mod></p></content></subparagraph><subparagraph eId="schedule-3-paragraph-31-5"><num>(5)</num><content><p><mod>In paragraph 66, for “The administrator of a company” substitute <quotedText>“
If the debts and other liabilities payable under paragraph 64A have been met, the administrator of a company
”</quotedText>.</mod></p></content></subparagraph></paragraph><paragraph eId="schedule-3-paragraph-32" class="schProv1"><num>32</num><subparagraph eId="schedule-3-paragraph-32-1"><num>(1)</num><content><p>Schedule 8 (provision capable of inclusion in company insolvency rules) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-3-paragraph-32-2"><num>(2)</num><content><p><mod>In paragraph 2, for “Parts I” substitute <quotedText>“
Parts A1
”</quotedText>.</mod></p></content></subparagraph><subparagraph eId="schedule-3-paragraph-32-3"><num>(3)</num><content><p><mod>In paragraph 8, after “is,” insert <quotedText>“
the monitor in relation to a moratorium under Part A1 or
”</quotedText>.</mod></p></content></subparagraph></paragraph><paragraph eId="schedule-3-paragraph-33" class="schProv1"><num>33</num><subparagraph eId="schedule-3-paragraph-33-1"><num>(1)</num><content><p>Schedule 10 (punishment of offences under the Act) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-3-paragraph-33-2"><num>(2)</num><content><p>Omit the entries relating to Schedule A1.</p></content></subparagraph><subparagraph eId="schedule-3-paragraph-33-3"><num>(3)</num><content><p><mod>At the appropriate place insert—<quotedStructure startQuote="“" endQuote="”" uk:context="unknown" uk:docName="unknown" ukl:TargetClass="unknown" ukl:TargetSubClass="unknown" ukl:Context="unknown" ukl:Format="default"><tblock class="table" ukl:Orientation="portrait"><foreign><default:table xmlns="http://www.w3.org/1999/xhtml"><default:colgroup><default:col style="width:25%"/><default:col style="width:35%"/><default:col style="width:20%"/><default:col style="width:20%"/></default:colgroup><default:tbody><default:tr><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A8(4)</p></default:td><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Directors failing to notify monitor of beginning of moratorium.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2 years or a fine or both.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">On conviction in England and Wales: 12 months or a fine or both. On conviction in Scotland: 12 months or the statutory maximum or both.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A8(5)</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Monitor failing to notify creditors etc of beginning of moratorium.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Level 3 on the standard scale.</p></default:td></default:tr><default:tr><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A17(6)</p></default:td><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Directors failing to notify monitor of change in end of moratorium.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2 years or a fine or both.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">On conviction in England and Wales: 12 months or a fine or both. On conviction in Scotland: 12 months or the statutory maximum or both.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A17(7)</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Monitor failing to notify creditors etc of change in end of moratorium.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Level 3 on the standard scale.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A19(5)</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Company or officer failing to state in correspondence etc that moratorium in force.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Level 3 on the standard scale.</p></default:td></default:tr><default:tr><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A24(4)</p></default:td><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Directors failing to notify monitor of insolvency proceedings etc.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2 years or a fine or both.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">On conviction in England and Wales: 12 months or a fine or both. On conviction in Scotland: 12 months or the statutory maximum or both.</p></default:td></default:tr><default:tr><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A25(3)(a)</p></default:td><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Company obtaining credit without disclosing existence of moratorium.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A fine.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">On conviction in England and Wales: a fine. On conviction in Scotland: the statutory maximum.</p></default:td></default:tr><default:tr><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A25(3)(b)</p></default:td><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Obtaining credit for company without disclosing existence of moratorium.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2 years or a fine or both.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">On conviction in England and Wales: 12 months or a fine or both. On conviction in Scotland: 12 months or the statutory maximum or both.</p></default:td></default:tr><default:tr><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A26(4)(a)</p></default:td><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Company granting security without monitor's consent.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A fine.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">On conviction in England and Wales: a fine. On conviction in Scotland: the statutory maximum.</p></default:td></default:tr><default:tr><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A26(4)(b)</p></default:td><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Authorising or permitting company to do so.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2 years or a fine or both.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">On conviction in England and Wales: 12 months or a fine or both. On conviction in Scotland: 12 months or the statutory maximum or both.</p></default:td></default:tr><default:tr><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A27(1)(a)</p></default:td><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Company entering into market contract, etc.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A fine.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">On conviction in England and Wales: a fine. On conviction in Scotland: the statutory maximum.</p></default:td></default:tr><default:tr><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A27(1)(b)</p></default:td><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Authorising or permitting company to do so.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2 years or a fine or both.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">On conviction in England and Wales: 12 months or a fine or both. On conviction in Scotland: 12 months or the statutory maximum or both.</p></default:td></default:tr><default:tr><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A28(5)(a)</p></default:td><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Company making unauthorised payments.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A fine.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">On conviction in England and Wales: a fine. On conviction in Scotland: the statutory maximum.</p></default:td></default:tr><default:tr><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A28(5)(b)</p></default:td><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Authorising or permitting company to do so.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2 years or a fine or both.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">On conviction in England and Wales: 12 months or a fine or both. On conviction in Scotland: 12 months or the statutory maximum or both.</p></default:td></default:tr><default:tr><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A29(6)(a)</p></default:td><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Company making unauthorised disposal of property.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A fine.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">On conviction in England and Wales: a fine. On conviction in Scotland: the statutory maximum.</p></default:td></default:tr><default:tr><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A29(6)(b)</p></default:td><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Authorising or permitting such a disposal.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2 years or a fine or both.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">On conviction in England and Wales: 12 months or a fine or both. On conviction in Scotland: 12 months or the statutory maximum or both.</p></default:td></default:tr><default:tr><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A30(2)(a)</p></default:td><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Unauthorised disposal of hire-purchase property.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A fine.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">On conviction in England and Wales: a fine. On conviction in Scotland: the statutory maximum.</p></default:td></default:tr><default:tr><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A30(2)(b)</p></default:td><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Authorising or permitting such a disposal.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2 years or a fine or both.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">On conviction in England and Wales: 12 months or a fine or both. On conviction in Scotland: 12 months or the statutory maximum or both.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A31(8)</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Directors failing to send to registrar copy of court order permitting disposal of charged property.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Level 3 on the standard scale.</p></default:td></default:tr><default:tr><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A31(10)(a)</p></default:td><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Company failing to comply with requirements relating to disposal of charged property.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A fine.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">On conviction in England and Wales: a fine. On conviction in Scotland: the statutory maximum.</p></default:td></default:tr><default:tr><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A31(10)(b)</p></default:td><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Authorising or permitting such a failure.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2 years or a fine or both.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">On conviction in England and Wales: 12 months or a fine or both. On conviction in Scotland: 12 months or the statutory maximum or both.</p></default:td></default:tr><default:tr><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A32(4)(a)</p></default:td><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Company failing to comply with requirements relating to disposal of hire-purchase property.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A fine.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">On conviction in England and Wales: a fine. On conviction in Scotland: the statutory maximum.</p></default:td></default:tr><default:tr><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A32(4)(b)</p></default:td><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Authorising or permitting such a failure.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2 years or a fine or both.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">On conviction in England and Wales: 12 months or a fine or both. On conviction in Scotland: 12 months or the statutory maximum or both.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A32(6)</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Directors failing to send to registrar copy of court order permitting disposal of hire-purchase property.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Level 3 on the standard scale.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A39(9)</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Monitor failing to notify creditors etc of change in monitor.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Level 3 on the standard scale.</p></default:td></default:tr><default:tr><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A46(1)</p></default:td><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Fraud or privity to fraud during or in anticipation of moratorium.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2 years or a fine or both.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">On conviction in England and Wales: 12 months or a fine or both. On conviction in Scotland: 12 months or the statutory maximum or both.</p></default:td></default:tr><default:tr><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A46(4)</p></default:td><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Knowingly taking in pawn or pledge, or otherwise receiving, company property.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2 years or a fine or both.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">On conviction in England and Wales: 12 months or a fine or both. On conviction in Scotland: 12 months or the statutory maximum or both.</p></default:td></default:tr><default:tr><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A47(1)</p></default:td><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">False representation or fraud for purpose of obtaining or extending moratorium.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2 years or a fine or both.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">On conviction in England and Wales: 12 months or a fine or both. On conviction in Scotland: 12 months or the statutory maximum or both.</p></default:td></default:tr><default:tr><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A49(5)</p></default:td><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Directors failing to notify regulator of qualifying decision procedure in relation to regulated company</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2 years or a fine or both.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">On conviction in England and Wales: 12 months or a fine or both. On conviction in Scotland: 12 months or the statutory maximum or both.</p></default:td></default:tr></default:tbody></default:table></foreign></tblock></quotedStructure></mod></p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-3-crossheading-building-societies-act-1986"><heading><i>Building Societies Act 1986</i></heading><paragraph eId="schedule-3-paragraph-34" class="schProv1"><num>34</num><content><p>In Schedule 15A to the Building Societies Act 1986 (application of other companies insolvency legislation to building societies), in paragraph 1(2)(a), omit “(except section 1A)”.</p></content></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-3-crossheading-the-financial-markets-and-insolvency-settlement-finality-regulations-1999"><heading><i>The Financial Markets and Insolvency (Settlement Finality) Regulations 1999</i></heading><paragraph eId="schedule-3-paragraph-35" class="schProv1"><num>35</num><content><p>In regulation 19 of the Financial Markets and Insolvency (Settlement Finality) Regulations 1999 (S.I. 1999/2979) (administration orders, etc), omit paragraph (4).</p></content></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-3-crossheading-limited-liability-partnerships-act-2000"><heading><i>Limited Liability Partnerships Act 2000</i></heading><paragraph eId="schedule-3-paragraph-36" class="schProv1"><num>36</num><content><p><mod>In section 14 of the Limited Liability Partnerships Act 2000 (regulations to make provision about insolvency and winding up), in subsection (1)(a), for “Parts 1” substitute <quotedText>“
Parts A1
”</quotedText>.</mod></p></content></paragraph><paragraph eId="schedule-3-paragraph-37" class="schProv1"><num>37</num><content><p>The provision that may be made under section 16(1) of the Limited Liability Partnerships Act 2000 (consequential amendments) includes provision in consequence of the amendment made by paragraph 38.</p></content></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-3-crossheading-the-limited-liability-partnerships-regulations-2001"><heading><i>The Limited Liability Partnerships Regulations 2001</i></heading><paragraph eId="schedule-3-paragraph-38" class="schProv1"><num>38</num><content><p><mod>In the Limited Liability Partnerships Regulations 2001 (S.I. 2001/1090), in Part 4 (winding up and insolvency), in regulation 5 (application of the Insolvency Act 1986 to limited liability partnerships), in paragraph (1)(a) after “Parts” insert <quotedText>“
A1,
”</quotedText>.</mod></p></content></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-3-crossheading-the-financial-services-and-markets-act-2000-disclosure-of-confidential-information-regulations-2001"><heading><i>The Financial Services and Markets Act 2000 (Disclosure of Confidential Information) Regulations 2001</i></heading><paragraph eId="schedule-3-paragraph-39" class="schProv1"><num>39</num><content><p><mod>In Schedule 2 to the Financial Services and Markets Act 2000 (Disclosure of Confidential Information) Regulations 2001 (S.I. 2001/2188) (disclosure of confidential information), at the end of the table insert—<quotedStructure startQuote="“" endQuote="”" uk:context="schedule" uk:docName="unknown" ukl:TargetClass="unknown" ukl:TargetSubClass="unknown" ukl:Context="schedule" ukl:Format="default"><tblock class="table" ukl:Orientation="portrait"><foreign><default:table xmlns="http://www.w3.org/1999/xhtml"><default:colgroup><default:col style="width:54%"/><default:col style="width:46%"/></default:colgroup><default:tbody><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">The monitor in relation to a moratorium under Part A1 of the Insolvency Act 1986</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">The monitor's functions in relation to the moratorium</p></default:td></default:tr></default:tbody></default:table></foreign></tblock></quotedStructure><inline name="appendText">.</inline></mod></p></content></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-3-crossheading-the-financial-collateral-arrangements-no2-regulations-2003"><heading><i>The Financial Collateral Arrangements (No.2) Regulations 2003</i></heading><paragraph eId="schedule-3-paragraph-40" class="schProv1"><num>40</num><content><p>In regulation 8 of the Financial Collateral Arrangements (No.2) Regulations 2003 (S.I. 2003/3226) (certain legislation restricting enforcement of security not to apply to financial collateral arrangements), omit paragraph (5).</p></content></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-3-crossheading-the-insolvency-practitioners-regulations-2005"><heading><i>The Insolvency Practitioners Regulations 2005</i></heading><paragraph eId="schedule-3-paragraph-41" class="schProv1"><num>41</num><content><p><mod>In regulation 2 of the Insolvency Practitioners Regulations 2005 (S.I. 2005/524) (interpretation: general), in paragraph (2), before sub-paragraph (a) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="regulation" ukl:Context="main" ukl:Format="default"><level class="para1"><num>(za)</num><intro><p>where the insolvency practitioner acts as the monitor in relation to a moratorium under Part A1 of the Act, whichever is the earlier of the date on which—</p></intro><level class="para2"><num>(i)</num><content><p>the moratorium comes to an end, or</p></content></level><level class="para2"><num>(ii)</num><content><p>the insolvency practitioner otherwise ceases to act as the monitor in relation to the moratorium;</p></content></level></level></quotedStructure><inline name="appendText">.</inline></mod></p></content></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-3-crossheading-banking-act-2009"><heading><i>Banking Act 2009</i></heading><paragraph eId="schedule-3-paragraph-42" class="schProv1"><num>42</num><intro><p>In section 154 of the Banking Act 2009 (winding-up or voluntary arrangement), in subsection (3A)—</p></intro><level class="para1" eId="schedule-3-paragraph-42-a"><num>(a)</num><content><p>omit “and Schedule A1”;</p></content></level><level class="para1" eId="schedule-3-paragraph-42-b"><num>(b)</num><content><p><mod>for “9” substitute <quotedText>“
8
”</quotedText>.</mod></p></content></level></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-3-crossheading-charities-act-2011"><heading><i>Charities Act 2011</i></heading><paragraph eId="schedule-3-paragraph-43" class="schProv1"><num>43</num><content><p>The Charities Act 2011 is amended as follows.</p></content></paragraph><paragraph eId="schedule-3-paragraph-44" class="schProv1"><num>44</num><subparagraph eId="schedule-3-paragraph-44-1"><num>(1)</num><content><p>Section 245 is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-3-paragraph-44-2"><num>(2)</num><content><p><mod>After subsection (1), insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="default"><subsection><num>(1A)</num><content><p>Regulations under subsection (1)(b) may not apply Part A1 of the Insolvency Act 1986 (moratorium) in relation to a CIO that is registered as a social landlord under Part 1 of the Housing Act 1996 (but see section 247A).</p></content></subsection></quotedStructure></mod></p></content></subparagraph><subparagraph eId="schedule-3-paragraph-44-3"><num>(3)</num><content><p><mod>After subsection (3), insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="default"><subsection><num>(3A)</num><content><p>In relation to a CIO that is a private registered provider of social housing, the power under section 347(3)(b) may be used to amend, disapply, or modify (in ways specified in the regulations) any provision made by or under Part 2 of the Housing and Regeneration Act 2008 or Chapter 5 of Part 4 of the Housing and Planning Act 2016.</p></content></subsection></quotedStructure></mod></p></content></subparagraph></paragraph><paragraph eId="schedule-3-paragraph-45" class="schProv1"><num>45</num><content><p><mod>After section 247 insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="default"><section><num>247A</num><heading>Regulations about moratorium for certain CIOs</heading><subsection><num>(1)</num><content><p>The Welsh Ministers may by regulations made by statutory instrument provide for Part A1 of the Insolvency Act 1986 to apply (with such modifications as may be specified in the regulations) in relation to a CIO that is a registered social landlord.</p></content></subsection><subsection><num>(2)</num><content><p>The regulations may make provision in connection with the interaction between Part A1 of the Insolvency Act 1986 as applied by the regulations and any other insolvency procedure in relation to a CIO that is a registered social landlord.</p></content></subsection><subsection><num>(3)</num><intro><p>The regulations may make—</p></intro><level class="para1"><num>(a)</num><content><p>different provision for different purposes, and</p></content></level><level class="para1"><num>(b)</num><content><p>such supplemental, incidental, consequential, transitory or transitional provision or savings as the Welsh Ministers consider appropriate.</p></content></level></subsection><subsection><num>(4)</num><content><p>The power to make regulations under this section includes power to amend, disapply, or modify (in ways specified in the regulations) any provision made by legislation.</p></content></subsection><subsection><num>(5)</num><content><p>A statutory instrument containing the regulations may not be made unless a draft of the statutory instrument containing them has been laid before and approved by a resolution of Senedd Cymru.</p></content></subsection><subsection><num>(6)</num><content><p>Before making any regulations under this section the Welsh Ministers must consult such persons or bodies of persons as the Welsh Ministers consider appropriate.</p></content></subsection><subsection><num>(7)</num><intro><p>In this section—</p></intro><hcontainer name="definition"><content><p>“<term refersTo="#term-insolvency-procedure">insolvency procedure</term>” includes the provision made by sections 39 to 50 of the Housing Act 1996;</p></content></hcontainer><hcontainer name="definition"><intro><p>“<term refersTo="#term-legislation">legislation</term>” means—</p></intro><level class="para1"><num>(a)</num><content><p>an Act of Parliament or an Act or Measure of Senedd Cymru; or</p></content></level><level class="para1"><num>(b)</num><content><p>subordinate legislation (within the meaning of the Interpretation Act 1978) made under such an Act or Measure;</p></content></level></hcontainer><hcontainer name="definition"><content><p>“<term refersTo="#term-registered-social-landlord">registered social landlord</term>” means registered as a social landlord under Part 1 of the Housing Act 1996.</p></content></hcontainer></subsection></section></quotedStructure></mod></p></content></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-3-crossheading-the-investment-bank-special-administration-regulations-2011"><heading><i>The Investment Bank Special Administration Regulations 2011</i></heading><paragraph eId="schedule-3-paragraph-46" class="schProv1"><num>46</num><content><p>The Investment Bank Special Administration Regulations 2011 (S.I. 2011/245) are amended as follows.</p></content></paragraph><paragraph eId="schedule-3-paragraph-47" class="schProv1"><num>47</num><intro><p>In regulation 21 (dissolution or voluntary arrangement), in paragraph (5A)—</p></intro><level class="para1" eId="schedule-3-paragraph-47-a"><num>(a)</num><content><p>omit “and Schedule A1”;</p></content></level><level class="para1" eId="schedule-3-paragraph-47-b"><num>(b)</num><content><p><mod>for the first “9” substitute <quotedText>“
8
”</quotedText>.</mod></p></content></level></paragraph><paragraph eId="schedule-3-paragraph-48" class="schProv1"><num>48</num><intro><p>In Schedule 2 (bank administration), in paragraph 16(3)(ba)—</p></intro><level class="para1" eId="schedule-3-paragraph-48-a"><num>(a)</num><content><p>omit “and Schedule A1”;</p></content></level><level class="para1" eId="schedule-3-paragraph-48-b"><num>(b)</num><content><p><mod>for the first “9” substitute <quotedText>“
8
”</quotedText>.</mod></p></content></level></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-3-crossheading-the-charitable-incorporated-organisations-insolvency-and-dissolution-regulations-2012"><heading><i>The Charitable Incorporated Organisations (Insolvency and Dissolution) Regulations 2012</i></heading><paragraph eId="schedule-3-paragraph-49" class="schProv1"><num>49</num><subparagraph eId="schedule-3-paragraph-49-1"><num>(1)</num><content><p>Paragraph 1 of Schedule 1 to the Charitable Incorporated Organisations (Insolvency and Dissolution) Regulations 2012 (S.I 2012/3013) (application of the Insolvency Act 1986) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-3-paragraph-49-2"><num>(2)</num><content><p><mod>In sub-paragraph (1), at the beginning insert <quotedText>“
Subject to sub-paragraph (2A)
”</quotedText>.</mod></p></content></subparagraph><subparagraph eId="schedule-3-paragraph-49-3"><num>(3)</num><content><p><mod>In sub-paragraph (2)(a), for “Parts 1” substitute <quotedText>“
Parts A1
”</quotedText>.</mod></p></content></subparagraph><subparagraph eId="schedule-3-paragraph-49-4"><num>(4)</num><content><p><mod>After sub-paragraph (2), insert—<quotedStructure startQuote="“" endQuote="”" uk:context="unknown" uk:docName="unknown" ukl:TargetClass="unknown" ukl:TargetSubClass="unknown" ukl:Context="unknown" ukl:Format="default"><subsection><num>(2A)</num><intro><p>Part A1 of the 1986 Act does not apply in relation to a CIO that is—</p></intro><level class="para1"><num>(a)</num><content><p>a private registered provider of social housing;</p></content></level><level class="para1"><num>(b)</num><content><p>registered as a social landlord under Part 1 of the Housing Act 1996.</p></content></level></subsection></quotedStructure></mod></p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-3-crossheading-cooperative-and-community-benefit-societies-act-2014"><heading><i>Co-operative and Community Benefit Societies Act 2014</i></heading><paragraph eId="schedule-3-paragraph-50" class="schProv1"><num>50</num><content><p>The Co-operative and Community Benefit Societies Act 2014 is amended as follows.</p></content></paragraph><paragraph eId="schedule-3-paragraph-51" class="schProv1"><num>51</num><content><p>In section 106 (appointment of inspectors and calling of special meetings), omit subsection (2).</p></content></paragraph><paragraph eId="schedule-3-paragraph-52" class="schProv1"><num>52</num><subparagraph eId="schedule-3-paragraph-52-1"><num>(1)</num><content><p>Section 118 (power to apply provisions about company arrangements and administration) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-3-paragraph-52-2"><num>(2)</num><content><p><mod>At the end of the heading insert <quotedText>“
etc
”</quotedText>.</mod></p></content></subparagraph><subparagraph eId="schedule-3-paragraph-52-3"><num>(3)</num><content><p><mod>In subsection (1), after “by order” insert<quotedText startQuote="“">—
</quotedText><quotedStructure endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="default"><level class="para1"><num>(a)</num><content><p>provide for Part A1 of the Insolvency Act 1986 (moratorium) to apply (with or without modifications) in relation to registered societies;</p></content></level><level class="para1"><num>(b)</num><content><p/></content></level></quotedStructure><inline name="appendText">.</inline></mod></p></content></subparagraph><subparagraph eId="schedule-3-paragraph-52-4"><num>(4)</num><content><p><mod>After subsection (3), insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="default"><subsection><num>(3A)</num><content><p>The order may not make any provision that could be made under subsection (3B) or (3C).</p></content></subsection><subsection><num>(3B)</num><content><p>The Welsh Ministers may by regulations made by statutory instrument make provision under the law of England and Wales for Part A1 of the Insolvency Act 1986 to apply (with or without modifications) in relation to a society that is registered as a social landlord under Part 1 of the Housing Act 1996.</p></content></subsection><subsection><num>(3C)</num><content><p>The Scottish Ministers may by regulations make provision under the law of Scotland for Part A1 of the Insolvency Act 1986 to apply (with or without modifications) in relation to a society that is registered as a social landlord under Part 2 of the Housing (Scotland) Act 2010 (asp 17).</p></content></subsection></quotedStructure></mod></p></content></subparagraph><subparagraph eId="schedule-3-paragraph-52-5"><num>(5)</num><content><p><mod>In subsection (4), for “The order” substitute <quotedText>“
An order or regulations under this section
”</quotedText>.</mod></p></content></subparagraph><subparagraph eId="schedule-3-paragraph-52-6"><num>(6)</num><content><p><mod>After subsection (5) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="default"><subsection><num>(5A)</num><content><p>A statutory instrument containing regulations under subsection (3B) is subject to annulment in pursuance of a resolution of Senedd Cymru.</p></content></subsection><subsection><num>(5B)</num><content><p>Regulations made by the Scottish Ministers under subsection (3C) are subject to the negative procedure (see section 28 of the Interpretation and Legislative Reform (Scotland) Act 2010 (asp 10)).</p></content></subsection></quotedStructure></mod></p></content></subparagraph></paragraph><paragraph eId="schedule-3-paragraph-53" class="schProv1"><num>53</num><content><p><mod>In section 147 (regulations and orders), in subsection (3), for “97 or 118” substitute <quotedText>“
or 97, or an order under section 118,
”</quotedText>.</mod></p></content></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-3-crossheading-the-cooperative-and-community-benefit-societies-and-credit-unions-arrangements-reconstructions-and-administration-order-2014-si-2014229"><heading><i>The Co-operative and Community Benefit Societies and Credit Unions (Arrangements, Reconstructions and Administration) Order 2014 (S.I. 2014/229)</i></heading><paragraph eId="schedule-3-paragraph-54" class="schProv1"><num><noteRef href="#key-4be2b1127392dad6fa9bf11d61a95cfa" uk:name="commentary" ukl:Name="CommentaryRef" class="commentary"/>54</num><content><p>. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .</p></content></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-3-crossheading-the-international-interests-in-aircraft-equipment-cape-town-convention-regulations-2015"><heading><i>The International Interests in Aircraft Equipment (Cape Town Convention) Regulations 2015</i></heading><paragraph eId="schedule-3-paragraph-55" class="schProv1"><num>55</num><subparagraph eId="schedule-3-paragraph-55-1"><num>(1)</num><content><p>Regulation 37 of the International Interests in Aircraft Equipment (Cape Town Convention) Regulations 2015 (S.I. 2015/912) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-3-paragraph-55-2"><num>(2)</num><content><p><mod>After paragraph (3) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="unknown" uk:docName="unknown" ukl:TargetClass="unknown" ukl:TargetSubClass="unknown" ukl:Context="unknown" ukl:Format="default"><subsection><num>(3A)</num><content><p>Where the insolvency-related event is the coming into force of a moratorium for a company under Part A1 of the Insolvency Act 1986, references in this regulation to the “insolvency office holder” are to the company.</p></content></subsection></quotedStructure></mod></p></content></subparagraph><subparagraph eId="schedule-3-paragraph-55-3"><num>(3)</num><intro><p>In paragraph (12)—</p></intro><level class="para1" eId="schedule-3-paragraph-55-3-a"><num>(a)</num><content><p>in sub-paragraph (a) omit “Part 1 of the Insolvency Act 1986 (in the case of company voluntary arrangements) and”;</p></content></level><level class="para1" eId="schedule-3-paragraph-55-3-b"><num>(b)</num><content><p>omit sub-paragraph (i).</p></content></level></subparagraph><subparagraph eId="schedule-3-paragraph-55-4"><num>(4)</num><content><p><mod>After paragraph (12) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="unknown" uk:docName="unknown" ukl:TargetClass="unknown" ukl:TargetSubClass="unknown" ukl:Context="unknown" ukl:Format="default"><subsection><num>(12A)</num><intro><p>Where this regulation applies by virtue of a moratorium for a company coming into force under Part A1 of the Insolvency Act 1986—</p></intro><level class="para1"><num>(a)</num><content><p>the provisions of this regulation are in addition to the provisions of Part A1 of that Act;</p></content></level><level class="para1"><num>(b)</num><content><p>the notices under section A8 of that Act must include a statement that this regulation applies, together with a statement of the effect of the application of this regulation;</p></content></level><level class="para1"><num>(c)</num><content><p>section A21 of that Act (restrictions on enforcement) does not apply in relation to the aircraft object after the end of the waiting period under this regulation;</p></content></level><level class="para1"><num>(d)</num><content><p>sections A29 to A32 of that Act (provisions about disposal of property) do not apply to the aircraft object;</p></content></level><level class="para1"><num>(e)</num><content><p>the end of the waiting period under this regulation is without prejudice to the application of the provisions of Part A1 of that Act in respect of assets to which these Regulations do not apply.</p></content></level></subsection></quotedStructure></mod></p></content></subparagraph></paragraph></hcontainer></hcontainer><hcontainer name="schedule" eId="schedule-4"><num>SCHEDULE 4<authorialNote class="referenceNote"><p>
Section 3</p></authorialNote></num><heading>Moratoriums in Great Britain: temporary provision</heading><part eId="schedule-4-part-1"><num><b>PART 1</b></num><heading>“Relevant period” and powers to turn off temporary provision</heading><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-4-part-1-crossheading-relevant-period"><heading><i>
“Relevant period”
</i></heading><paragraph eId="schedule-4-paragraph-1" class="schProv1"><num>1</num><intro><p>In this Schedule “<term refersTo="#term-relevant-period" eId="term-relevant-period">relevant period</term>” means the period which—</p></intro><level class="para1" eId="schedule-4-paragraph-1-a"><num>(a)</num><content><p>begins with the day on which this Schedule comes into force, and</p></content></level><level class="para1" eId="schedule-4-paragraph-1-b"><num>(b)</num><content><p>ends with <ins class="substitution first last" ukl:ChangeId="key-166ab8fb0ab7f3af5940e567b9b61dc7-1646751186581" ukl:CommentaryRef="key-166ab8fb0ab7f3af5940e567b9b61dc7"><noteRef uk:name="commentary" href="#key-166ab8fb0ab7f3af5940e567b9b61dc7" class="commentary"/>30 September 2021</ins>.</p></content></level></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-4-part-1-crossheading-power-to-turn-off-particular-provisions-of-part-2-of-this-schedule-early"><heading><i>Power to turn off particular provisions of Part 2 of this Schedule early</i></heading><paragraph eId="schedule-4-paragraph-2" class="schProv1"><num>2</num><subparagraph eId="schedule-4-paragraph-2-1"><num>(1)</num><content><p>The Secretary of State may by regulations made by statutory instrument provide for any provision made by Part 2 of this Schedule to cease to have effect before the end of the relevant period.</p></content></subparagraph><subparagraph eId="schedule-4-paragraph-2-2"><num>(2)</num><content><p>The regulations may include transitional provision or savings.</p></content></subparagraph><subparagraph eId="schedule-4-paragraph-2-3"><num>(3)</num><content><p>A statutory instrument containing regulations under sub-paragraph (1) is subject to annulment in pursuance of a resolution of either House of Parliament.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-4-part-1-crossheading-power-to-turn-off-provisions-of-parts-3-and-4-of-this-schedule-early-etc"><heading><i>Power to turn off provisions of Parts 3 and 4 of this Schedule early etc</i></heading><paragraph eId="schedule-4-paragraph-3" class="schProv1"><num>3</num><content><p>Rules under section 411 of the Insolvency Act 1986 may provide for any provision made by paragraphs 13 to 51 or 53 to 90 to cease to have effect before the end of the relevant period.</p></content></paragraph><paragraph eId="schedule-4-paragraph-4" class="schProv1"><num>4</num><content><p>Rules under section 411 of the Insolvency Act 1986 may make transitional provision or savings in connection with any provision made by paragraphs 13 to 51 or 53 to 90 ceasing to have effect (whether by virtue of paragraph 3 or 12).</p></content></paragraph></hcontainer></part><part eId="schedule-4-part-2"><num><b>PART 2</b></num><heading>Modifications to primary legislation</heading><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-4-part-2-crossheading-eligible-company-additional-exclusion"><heading><i>
“Eligible” company: additional exclusion</i></heading><paragraph eId="schedule-4-paragraph-5" class="schProv1"><num><del class="first" ukl:ChangeId="key-2c6f30cf4d0490bfb01577475c1884bb-1604324526209" ukl:CommentaryRef="key-2c6f30cf4d0490bfb01577475c1884bb"><noteRef uk:name="commentary" href="#key-2c6f30cf4d0490bfb01577475c1884bb" class="commentary"/>5</del></num><intro><p><del ukl:ChangeId="key-2c6f30cf4d0490bfb01577475c1884bb-1604324526209" ukl:CommentaryRef="key-2c6f30cf4d0490bfb01577475c1884bb">During the relevant period, a company is not eligible for the purposes of section A3, A4 or A5 of the Insolvency Act 1986 if the company—</del></p></intro><level class="para1" eId="schedule-4-paragraph-5-a"><num><del ukl:ChangeId="key-2c6f30cf4d0490bfb01577475c1884bb-1604324526209" ukl:CommentaryRef="key-2c6f30cf4d0490bfb01577475c1884bb">(a)</del></num><content><p><del ukl:ChangeId="key-2c6f30cf4d0490bfb01577475c1884bb-1604324526209" ukl:CommentaryRef="key-2c6f30cf4d0490bfb01577475c1884bb">has permission under Part 4A of the Financial Services and Markets Act 2000 to carry on a regulated activity within the meaning of that Act, and</del></p></content></level><level class="para1" eId="schedule-4-paragraph-5-b"><num><del ukl:ChangeId="key-2c6f30cf4d0490bfb01577475c1884bb-1604324526209" ukl:CommentaryRef="key-2c6f30cf4d0490bfb01577475c1884bb">(b)</del></num><content><p><del class="last" ukl:ChangeId="key-2c6f30cf4d0490bfb01577475c1884bb-1604324526209" ukl:CommentaryRef="key-2c6f30cf4d0490bfb01577475c1884bb">is not subject to a requirement imposed under that Act to refrain from holding money for clients.</del></p></content></level></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-4-part-2-crossheading-relaxation-of-conditions-for-obtaining-moratorium-etc"><heading><i>Relaxation of conditions for obtaining moratorium etc</i></heading><paragraph eId="schedule-4-paragraph-6" class="schProv1"><num>6</num><subparagraph eId="schedule-4-paragraph-6-1"><num>(1)</num><intro><p>For the purposes of obtaining a moratorium under section A3 of the Insolvency Act 1986 during the relevant period—</p></intro><level class="para1" eId="schedule-4-paragraph-6-1-a"><num>(a)</num><content><p>section A3 of that Act has effect as if subsection (1)(a) were omitted;</p></content></level><level class="para1" eId="schedule-4-paragraph-6-1-b"><num><del class="first" ukl:ChangeId="key-25a4a4f18ebd3f5639e0fc30e9d51ccd-1604324631798" ukl:CommentaryRef="key-25a4a4f18ebd3f5639e0fc30e9d51ccd"><noteRef uk:name="commentary" href="#key-25a4a4f18ebd3f5639e0fc30e9d51ccd" class="commentary"/>(b)</del></num><content><p><del class="last" ukl:ChangeId="key-25a4a4f18ebd3f5639e0fc30e9d51ccd-1604324631798" ukl:CommentaryRef="key-25a4a4f18ebd3f5639e0fc30e9d51ccd">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”;</del></p></content></level><level class="para1" eId="schedule-4-paragraph-6-1-c"><num>(c)</num><content><p>Schedule ZA1 to that Act has effect as if paragraph 2(1)(b) and (2)(b) were omitted.</p></content></level></subparagraph><subparagraph eId="schedule-4-paragraph-6-2"><num>(2)</num><content><p>During the relevant period, only an overseas company may obtain a moratorium under section A4 of the Insolvency Act 1986.</p></content></subparagraph></paragraph><paragraph eId="schedule-4-paragraph-7" class="schProv1"><num>7</num><intro><p>In relation to an application for a moratorium made under section A4 or A5 of the Insolvency Act 1986 during the relevant period—</p></intro><level class="para1" eId="schedule-4-paragraph-7-a"><num><del class="first" ukl:ChangeId="key-448d094603bf44d42ee51377b9b937ab-1604324695320" ukl:CommentaryRef="key-448d094603bf44d42ee51377b9b937ab"><noteRef uk:name="commentary" href="#key-448d094603bf44d42ee51377b9b937ab" class="commentary"/>(a)</del></num><content><p><del class="last" ukl:ChangeId="key-448d094603bf44d42ee51377b9b937ab-1604324695320" ukl:CommentaryRef="key-448d094603bf44d42ee51377b9b937ab">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”;</del></p></content></level><level class="para1" eId="schedule-4-paragraph-7-b"><num>(b)</num><content><p>Schedule ZA1 to that Act has effect as if paragraph 2(1)(b) and (2)(b) were omitted.</p></content></level></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-4-part-2-crossheading-relaxation-of-conditions-for-extending-moratorium-obtained-during-relevant-period"><heading><i>Relaxation of conditions for extending moratorium obtained during relevant period</i></heading><paragraph eId="schedule-4-paragraph-8" class="schProv1"><num><del class="first" ukl:ChangeId="key-2cdc02547ff6f33621fd915de6e8f642-1604324777464" ukl:CommentaryRef="key-2cdc02547ff6f33621fd915de6e8f642"><noteRef uk:name="commentary" href="#key-2cdc02547ff6f33621fd915de6e8f642" class="commentary"/>8</del></num><subparagraph eId="schedule-4-paragraph-8-1"><num><del ukl:ChangeId="key-2cdc02547ff6f33621fd915de6e8f642-1604324777464" ukl:CommentaryRef="key-2cdc02547ff6f33621fd915de6e8f642">(1)</del></num><content><p><del ukl:ChangeId="key-2cdc02547ff6f33621fd915de6e8f642-1604324777464" ukl:CommentaryRef="key-2cdc02547ff6f33621fd915de6e8f642">This paragraph applies in relation to a moratorium that comes into force during the relevant period.</del></p></content></subparagraph><subparagraph eId="schedule-4-paragraph-8-2"><num><del ukl:ChangeId="key-2cdc02547ff6f33621fd915de6e8f642-1604324777464" ukl:CommentaryRef="key-2cdc02547ff6f33621fd915de6e8f642">(2)</del></num><content><p><del ukl:ChangeId="key-2cdc02547ff6f33621fd915de6e8f642-1604324777464" ukl:CommentaryRef="key-2cdc02547ff6f33621fd915de6e8f642">For the purposes of extending the moratorium under section A10 or A11 of the Insolvency Act 1986, subsection (1)(d) of that section 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”.</del></p></content></subparagraph><subparagraph eId="schedule-4-paragraph-8-3"><num><del ukl:ChangeId="key-2cdc02547ff6f33621fd915de6e8f642-1604324777464" ukl:CommentaryRef="key-2cdc02547ff6f33621fd915de6e8f642">(3)</del></num><content><p><del class="last" ukl:ChangeId="key-2cdc02547ff6f33621fd915de6e8f642-1604324777464" ukl:CommentaryRef="key-2cdc02547ff6f33621fd915de6e8f642">In relation to an application under section A13 of the Insolvency Act 1986 that the moratorium be extended, subsection (2)(d) of that section 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”.</del></p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-4-part-2-crossheading-monitoring-of-moratorium-obtained-during-relevant-period"><heading><i>Monitoring of moratorium obtained during relevant period</i></heading><paragraph eId="schedule-4-paragraph-9" class="schProv1"><num><del class="first" ukl:ChangeId="key-9d1836f1416f2fe404328714b9f3da15-1604324866082" ukl:CommentaryRef="key-9d1836f1416f2fe404328714b9f3da15"><noteRef uk:name="commentary" href="#key-9d1836f1416f2fe404328714b9f3da15" class="commentary"/>9</del></num><content><p><mod><del ukl:ChangeId="key-9d1836f1416f2fe404328714b9f3da15-1604324866082" ukl:CommentaryRef="key-9d1836f1416f2fe404328714b9f3da15">In relation to a moratorium that comes into force during the relevant period, section A35(1) of the Insolvency Act 1986 has effect as if for the words from “it remains likely” to the end there were substituted</del><quotedText startQuote="“"><del ukl:ChangeId="key-9d1836f1416f2fe404328714b9f3da15-1604324866082" ukl:CommentaryRef="key-9d1836f1416f2fe404328714b9f3da15">—
</del></quotedText><quotedStructure endQuote="”" uk:context="unknown" uk:docName="unknown" ukl:TargetClass="unknown" ukl:TargetSubClass="unknown" ukl:Context="unknown" ukl:Format="default"><level class="para1"><num><del ukl:ChangeId="key-9d1836f1416f2fe404328714b9f3da15-1604324866082" ukl:CommentaryRef="key-9d1836f1416f2fe404328714b9f3da15">(a)</del></num><content><p><del ukl:ChangeId="key-9d1836f1416f2fe404328714b9f3da15-1604324866082" ukl:CommentaryRef="key-9d1836f1416f2fe404328714b9f3da15">it is likely that the moratorium will result in the rescue of the company as a going concern, or</del></p></content></level><level class="para1"><num><del ukl:ChangeId="key-9d1836f1416f2fe404328714b9f3da15-1604324866082" ukl:CommentaryRef="key-9d1836f1416f2fe404328714b9f3da15">(b)</del></num><content><p><del class="last" ukl:ChangeId="key-9d1836f1416f2fe404328714b9f3da15-1604324866082" ukl:CommentaryRef="key-9d1836f1416f2fe404328714b9f3da15">that, if one were to disregard any worsening of the financial position of the company for reasons relating to coronavirus, it is likely that the moratorium would result in the rescue of the company as a going concern.</del></p></content></level></quotedStructure></mod></p></content></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-4-part-2-crossheading-termination-of-moratorium-obtained-during-relevant-period"><heading><i>Termination of moratorium obtained during relevant period</i></heading><paragraph eId="schedule-4-paragraph-10" class="schProv1"><num><del class="first" ukl:ChangeId="key-f6c53cbc69b6049c35b46637c5971681-1604324919591" ukl:CommentaryRef="key-f6c53cbc69b6049c35b46637c5971681"><noteRef uk:name="commentary" href="#key-f6c53cbc69b6049c35b46637c5971681" class="commentary"/>10</del></num><content><p><mod><del ukl:ChangeId="key-f6c53cbc69b6049c35b46637c5971681-1604324919591" ukl:CommentaryRef="key-f6c53cbc69b6049c35b46637c5971681">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—</del><quotedStructure startQuote="“" endQuote="”" uk:context="unknown" uk:docName="unknown" ukl:TargetClass="unknown" ukl:TargetSubClass="unknown" ukl:Context="unknown" ukl:Format="default"><level class="para1"><num><del ukl:ChangeId="key-f6c53cbc69b6049c35b46637c5971681-1604324919591" ukl:CommentaryRef="key-f6c53cbc69b6049c35b46637c5971681">(a)</del></num><intro><p><del ukl:ChangeId="key-f6c53cbc69b6049c35b46637c5971681-1604324919591" ukl:CommentaryRef="key-f6c53cbc69b6049c35b46637c5971681">the monitor thinks—</del></p></intro><level class="para2"><num><del ukl:ChangeId="key-f6c53cbc69b6049c35b46637c5971681-1604324919591" ukl:CommentaryRef="key-f6c53cbc69b6049c35b46637c5971681">(i)</del></num><content><p><del ukl:ChangeId="key-f6c53cbc69b6049c35b46637c5971681-1604324919591" ukl:CommentaryRef="key-f6c53cbc69b6049c35b46637c5971681">that the moratorium is not likely to result in the rescue of the company as a going concern, and</del></p></content></level><level class="para2"><num><del ukl:ChangeId="key-f6c53cbc69b6049c35b46637c5971681-1604324919591" ukl:CommentaryRef="key-f6c53cbc69b6049c35b46637c5971681">(ii)</del></num><content><p><del ukl:ChangeId="key-f6c53cbc69b6049c35b46637c5971681-1604324919591" ukl:CommentaryRef="key-f6c53cbc69b6049c35b46637c5971681">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,</del></p></content></level></level></quotedStructure><inline name="appendText"><del class="last" ukl:ChangeId="key-f6c53cbc69b6049c35b46637c5971681-1604324919591" ukl:CommentaryRef="key-f6c53cbc69b6049c35b46637c5971681">.</del></inline></mod></p></content></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-4-part-2-crossheading-coronavirus"><heading><i>
“Coronavirus”
</i></heading><paragraph eId="schedule-4-paragraph-11" class="schProv1"><num><del class="first" ukl:ChangeId="key-202ef672fda7003be99f74e2b6d490e9-1604324990501" ukl:CommentaryRef="key-202ef672fda7003be99f74e2b6d490e9"><noteRef uk:name="commentary" href="#key-202ef672fda7003be99f74e2b6d490e9" class="commentary"/>11</del></num><content><p><del ukl:ChangeId="key-202ef672fda7003be99f74e2b6d490e9-1604324990501" ukl:CommentaryRef="key-202ef672fda7003be99f74e2b6d490e9">In the modifications made by this Part of this Schedule “</del><term refersTo="#term-coronavirus" eId="term-coronavirus"><del ukl:ChangeId="key-202ef672fda7003be99f74e2b6d490e9-1604324990501" ukl:CommentaryRef="key-202ef672fda7003be99f74e2b6d490e9">coronavirus</del></term><del class="last" ukl:ChangeId="key-202ef672fda7003be99f74e2b6d490e9-1604324990501" ukl:CommentaryRef="key-202ef672fda7003be99f74e2b6d490e9">” means severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2).</del></p></content></paragraph></hcontainer></part><part eId="schedule-4-part-3"><num><b>PART 3</b></num><heading>Temporary rules: England and Wales</heading><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-4-part-3-crossheading-introductory"><heading><i>Introductory</i></heading><paragraph eId="schedule-4-paragraph-12" class="schProv1"><num>12</num><content><p>Paragraphs 13 to 51 cease to have effect at the end of the relevant period, subject to paragraph 3.</p></content></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-4-part-3-crossheading-definition-of-the-court"><heading><i>Definition of “the court”</i></heading><paragraph eId="schedule-4-paragraph-13" class="schProv1"><num>13</num><content><p><mod>Section A54(1) of the Insolvency Act 1986 has effect as if for the definition of “the court” there were substituted—<quotedStructure startQuote="“" endQuote="”" uk:context="unknown" uk:docName="unknown" ukl:TargetClass="unknown" ukl:TargetSubClass="unknown" ukl:Context="unknown" ukl:Format="default"><p>“<term refersTo="#term-the-court">the court</term>”, in relation to a company, means a court having jurisdiction to wind up the company;</p></quotedStructure><inline name="appendText">.</inline></mod></p></content></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-4-part-3-crossheading-content-of-documents-relating-to-the-obtaining-or-extending-of-a-moratorium-general"><heading><i>Content of documents relating to the obtaining or extending of a moratorium: general</i></heading><paragraph eId="schedule-4-paragraph-14" class="schProv1"><num>14</num><intro><p>A notice or statement under section A6(1), A8(2), A10(1), A11(1) or A13(2) of the Insolvency Act 1986 must state—</p></intro><level class="para1" eId="schedule-4-paragraph-14-a"><num>(a)</num><content><p>the provision under which it is given or made,</p></content></level><level class="para1" eId="schedule-4-paragraph-14-b"><num>(b)</num><content><p>the nature of the notice or statement,</p></content></level><level class="para1" eId="schedule-4-paragraph-14-c"><num>(c)</num><content><p>the date of the notice or statement, and</p></content></level><level class="para1" eId="schedule-4-paragraph-14-d"><num>(d)</num><content><p>the identification details for the company to which it relates.</p></content></level></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-4-part-3-crossheading-authentication-of-documents-relating-to-obtaining-or-extending-moratorium-general"><heading><i>Authentication of documents relating to obtaining or extending moratorium: general</i></heading><paragraph eId="schedule-4-paragraph-15" class="schProv1"><num>15</num><subparagraph eId="schedule-4-paragraph-15-1"><num>(1)</num><content><p>A notice or statement under section A6(1), A10(1), A11(1) or A13(2) of the Insolvency Act 1986 must be authenticated by or on behalf of the person giving the notice or making the statement.</p></content></subparagraph><subparagraph eId="schedule-4-paragraph-15-2"><num>(2)</num><content><p>A notice under section A8(2)(a) of the Insolvency Act 1986 must be authenticated by the monitor.</p></content></subparagraph><subparagraph eId="schedule-4-paragraph-15-3"><num>(3)</num><content><p>Rule 1.5 of the England and Wales Insolvency Rules applies for the purposes of authentication under this paragraph.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-4-part-3-crossheading-notice-that-directors-wish-to-obtain-a-moratorium"><heading><i>Notice that directors wish to obtain a moratorium</i></heading><paragraph eId="schedule-4-paragraph-16" class="schProv1"><num>16</num><intro><p>A notice under section A6(1)(a) of the Insolvency Act 1986 must state—</p></intro><level class="para1" eId="schedule-4-paragraph-16-a"><num>(a)</num><content><p>the company's address for service, and</p></content></level><level class="para1" eId="schedule-4-paragraph-16-b"><num>(b)</num><content><p>the court (and where applicable, the division or district registry of that court) or hearing centre in which the documents are to be filed under section A3 or the application under section A4 or A5 is to be made.</p></content></level></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-4-part-3-crossheading-proposed-monitors-statement-and-consent-to-act"><heading><i>Proposed monitor's statement and consent to act</i></heading><paragraph eId="schedule-4-paragraph-17" class="schProv1"><num>17</num><subparagraph eId="schedule-4-paragraph-17-1"><num>(1)</num><intro><p>A statement under section A6(1)(b) of the Insolvency Act 1986 must be headed “Proposed monitor's statement and consent to act” and must contain the following—</p></intro><level class="para1" eId="schedule-4-paragraph-17-1-a"><num>(a)</num><content><p>a certificate that the proposed monitor is qualified to act as an insolvency practitioner in relation to the company,</p></content></level><level class="para1" eId="schedule-4-paragraph-17-1-b"><num>(b)</num><content><p>the proposed monitor's IP number,</p></content></level><level class="para1" eId="schedule-4-paragraph-17-1-c"><num>(c)</num><content><p>the name of the relevant recognised professional body which is the source of the proposed monitor's authorisation to act in relation to the company, and</p></content></level><level class="para1" eId="schedule-4-paragraph-17-1-d"><num>(d)</num><content><p>a statement that the proposed monitor consents to act as monitor in relation to the company.</p></content></level></subparagraph><subparagraph eId="schedule-4-paragraph-17-2"><num>(2)</num><content><p>In this paragraph “<term refersTo="#term-ip-number" eId="term-ip-number">IP number</term>” means the number assigned to an office-holder as an insolvency practitioner by the Secretary of State.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-4-part-3-crossheading-timing-of-statements-for-obtaining-moratorium"><heading><i>Timing of statements for obtaining moratorium</i></heading><paragraph eId="schedule-4-paragraph-18" class="schProv1"><num>18</num><content><p>Each statement under section A6(1)(b) to (e) of the Insolvency Act 1986 must be made within the period of 5 days ending with the day on which the documents under section A6(1)(a) to (e) are filed with the court (or, if the documents are filed on different days, the last of those days).</p></content></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-4-part-3-crossheading-notice-by-monitor-where-moratorium-comes-into-force"><heading><i>Notice by monitor where moratorium comes into force</i></heading><paragraph eId="schedule-4-paragraph-19" class="schProv1"><num>19</num><intro><p>A notice under section A8(2) of the Insolvency Act 1986 must—</p></intro><level class="para1" eId="schedule-4-paragraph-19-a"><num>(a)</num><content><p>state that it is given by the monitor acting in that capacity, and</p></content></level><level class="para1" eId="schedule-4-paragraph-19-b"><num>(b)</num><content><p>state the name and contact details of the monitor.</p></content></level></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-4-part-3-crossheading-notice-that-directors-wish-to-extend-a-moratorium"><heading><i>Notice that directors wish to extend a moratorium</i></heading><paragraph eId="schedule-4-paragraph-20" class="schProv1"><num>20</num><intro><p>A notice under section A10(1)(a) or A11(1)(a) of the Insolvency Act 1986 must state—</p></intro><level class="para1" eId="schedule-4-paragraph-20-a"><num>(a)</num><content><p>the company's address for service, and</p></content></level><level class="para1" eId="schedule-4-paragraph-20-b"><num>(b)</num><content><p>the court (and where applicable, the division or district registry of that court) or hearing centre in which the notice is to be filed.</p></content></level></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-4-part-3-crossheading-extension-under-section-a10-or-a11-of-the-insolvency-act-1986-notices-and-statements"><heading><i>Extension under section A10 or A11 of the Insolvency Act 1986: notices and statements</i></heading><paragraph eId="schedule-4-paragraph-21" class="schProv1"><num>21</num><content><p>A statement by the monitor under section A10(1)(d) or A11(1)(d) of the Insolvency Act 1986 must contain contact details of the monitor.</p></content></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-4-part-3-crossheading-timing-of-statements-for-extension-under-section-a10-or-a11"><heading><i>Timing of statements for extension under section A10 or A11</i></heading><paragraph eId="schedule-4-paragraph-22" class="schProv1"><num>22</num><content><p>Each statement under section A10(1)(b) to (d) or A11(1)(b) to (e) of the Insolvency Act 1986 must be made within the period of 3 days ending with the day on which the documents under section A10(1)(a) to (d) or A11(1)(a) to (e) are filed with the court (or, if the documents are filed on different days, the last of those days).</p></content></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-4-part-3-crossheading-obtaining-creditor-consent-qualifying-decision-procedure"><heading><i>Obtaining creditor consent: qualifying decision procedure</i></heading><paragraph eId="schedule-4-paragraph-23" class="schProv1"><num>23</num><subparagraph eId="schedule-4-paragraph-23-1"><num>(1)</num><intro><p>The following apply, so far as relevant, for the purposes of a decision to consent to a revised end date for a moratorium under section A12 of the Insolvency Act 1986—</p></intro><level class="para1" eId="schedule-4-paragraph-23-1-a"><num>(a)</num><content><p>Part 15 of the England and Wales Insolvency Rules (decision making), apart from rule 15.8(3)(f) and (g);</p></content></level><level class="para1" eId="schedule-4-paragraph-23-1-b"><num>(b)</num><content><p>Part 16 of the England and Wales Insolvency Rules (proxies), apart from rule 16.7.</p></content></level></subparagraph><subparagraph eId="schedule-4-paragraph-23-2"><num>(2)</num><content><p>In its application by virtue of sub-paragraph (1), Part 15 has effect subject to the modifications set out in paragraphs 24 to 28.</p></content></subparagraph></paragraph><paragraph eId="schedule-4-paragraph-24" class="schProv1"><num>24</num><content><p><mod>Rule 15.11 of the England and Wales Insolvency Rules (notice of decision procedures etc) has effect as if, before the first entry in the table, there were inserted—<quotedStructure startQuote="“" endQuote="”" uk:context="unknown" uk:docName="unknown" ukl:TargetClass="unknown" ukl:TargetSubClass="unknown" ukl:Context="unknown" ukl:Format="default"><tblock class="table" ukl:Orientation="portrait"><foreign><default:table xmlns="http://www.w3.org/1999/xhtml"><default:colgroup><default:col style="width:25%"/><default:col style="width:25%"/><default:col style="width:25%"/><default:col style="width:25%"/></default:colgroup><default:tbody><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">moratorium</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">decision of pre-moratorium creditors under section A12 of the Act</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">the pre-moratorium creditors</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">5 days</p></default:td></default:tr></default:tbody></default:table></foreign></tblock></quotedStructure><inline name="appendText">.</inline></mod></p></content></paragraph><paragraph eId="schedule-4-paragraph-25" class="schProv1"><num>25</num><content><p><mod>Rule 15.28 of the England and Wales Insolvency Rules (creditors' voting rights) has effect as if, before paragraph (1), there were inserted—<quotedStructure startQuote="“" endQuote="”" uk:context="unknown" uk:docName="unknown" ukl:TargetClass="unknown" ukl:TargetSubClass="unknown" ukl:Context="unknown" ukl:Format="default"><subsection><num>A1</num><intro><p>A pre-moratorium creditor is entitled to vote in a decision procedure under section A12 of the Act only if—</p></intro><level class="para1"><num>(a)</num><content><p>the creditor has delivered to the convener a proof of the debt claimed in accordance with paragraph (3) including any calculation for the purposes of rule 15.31 or 15.32, and</p></content></level><level class="para1"><num>(b)</num><intro><p>the proof was received by the convener—</p></intro><level class="para2"><num>(i)</num><content><p>not later than the decision date, or in the case of a meeting, 4pm on the business day before the meeting, or</p></content></level><level class="para2"><num>(ii)</num><content><p>in the case of a meeting, later than the time given in sub-paragraph (i) where the chair is content to accept the proof, and</p></content></level></level><level class="para1"><num>(c)</num><content><p>the proof has been admitted for the purposes of entitlement to vote.</p></content></level></subsection></quotedStructure></mod></p></content></paragraph><paragraph eId="schedule-4-paragraph-26" class="schProv1"><num>26</num><intro><p>Rule 15.31 of the England and Wales Insolvency Rules (calculation of voting rights) has effect as if—</p></intro><level class="para1" eId="schedule-4-paragraph-26-a"><num>(a)</num><content><p><mod>before paragraph (1) there were inserted—<quotedStructure startQuote="“" endQuote="”" uk:context="unknown" uk:docName="unknown" ukl:TargetClass="unknown" ukl:TargetSubClass="unknown" ukl:Context="unknown" ukl:Format="default"><subsection><num>A1</num><content><p>In relation to a decision to consent to a revised end date for a moratorium under section A12 of the Act votes are calculated according to the amount of each creditor's claim at the decision date.</p></content></subsection></quotedStructure><inline name="appendText">;</inline></mod></p></content></level><level class="para1" eId="schedule-4-paragraph-26-b"><num>(b)</num><content><p><mod>after paragraph (2) there were inserted—<quotedStructure startQuote="“" endQuote="”" uk:context="unknown" uk:docName="unknown" ukl:TargetClass="unknown" ukl:TargetSubClass="unknown" ukl:Context="unknown" ukl:Format="default"><subsection><num>(2A)</num><content><p>But in relation to a decision to consent to a revised end date for a moratorium under section A12 of the Act, a debt of an unliquidated or unascertained amount is to be valued at £1 for the purposes of voting unless the convener or chair or an appointed person decides to put a higher value on it.</p></content></subsection></quotedStructure><inline name="appendText">;</inline></mod></p></content></level><level class="para1" eId="schedule-4-paragraph-26-c"><num>(c)</num><content><p><mod>in paragraph (6), after sub-paragraph (b) there were inserted—<quotedStructure startQuote="“" endQuote="”" uk:context="unknown" uk:docName="unknown" ukl:TargetClass="unknown" ukl:TargetSubClass="unknown" ukl:Context="unknown" ukl:Format="default"><level class="para1"><num>(c)</num><content><p>where the decision relates to whether to consent to a revised end date for a moratorium under section A12 of the Act.</p></content></level></quotedStructure></mod></p></content></level></paragraph><paragraph eId="schedule-4-paragraph-27" class="schProv1"><num>27</num><content><p><mod>Rule 15.32 of the England and Wales Insolvency Rules (calculation of voting rights: special cases) has effect as if, before paragraph (1), there were inserted—<quotedStructure startQuote="“" endQuote="”" uk:context="unknown" uk:docName="unknown" ukl:TargetClass="unknown" ukl:TargetSubClass="unknown" ukl:Context="unknown" ukl:Format="default"><subsection><num>A1</num><content><p>In relation to a decision to consent to a revised end date for a moratorium under section A12 of the Act, a pre-moratorium creditor under a hire-purchase agreement is entitled to vote in respect of the amount of the debt due and payable by the company at the decision date.</p></content></subsection><subsection><num>B1</num><content><p>In calculating the amount of any debt for the purpose of paragraph (A1), no account is to be taken of any amount attributable to the exercise of any right under the relevant agreement so far as the right has become exercisable solely by virtue of a moratorium for the company coming into force.</p></content></subsection></quotedStructure></mod></p></content></paragraph><paragraph eId="schedule-4-paragraph-28" class="schProv1"><num>28</num><content><p><mod>Rule 15.34 of the England and Wales Insolvency Rules (requisite majorities) has effect as if, before paragraph (1), there were inserted—<quotedStructure startQuote="“" endQuote="”" uk:context="unknown" uk:docName="unknown" ukl:TargetClass="unknown" ukl:TargetSubClass="unknown" ukl:Context="unknown" ukl:Format="default"><subsection><num>A1</num><intro><p>Subject to paragraph (B1), a decision to consent to a revised end date for a moratorium under section A12 of the Act is made if, of those voting—</p></intro><level class="para1"><num>(a)</num><content><p>a majority (in value) of the pre-moratorium creditors who are secured creditors vote in favour of the proposed decision, and</p></content></level><level class="para1"><num>(b)</num><content><p>a majority (in value) of the pre-moratorium creditors who are unsecured creditors vote in favour of the proposed decision.</p></content></level></subsection><subsection><num>B1</num><intro><p>But a decision to consent to a revised end date for a moratorium under section A12 of the Act is not made if, of those voting either—</p></intro><level class="para1"><num>(a)</num><content><p>a majority of the pre-moratorium creditors who are unconnected secured creditors vote against the proposed end date, or</p></content></level><level class="para1"><num>(b)</num><content><p>a majority of the pre-moratorium creditors who are unconnected unsecured creditors vote against the proposed end date.</p></content></level></subsection><subsection><num>C1</num><intro><p>For the purposes of paragraph (B1)—</p></intro><level class="para1"><num>(a)</num><content><p>a creditor is unconnected unless the convener or chair decides that the creditor is connected, and</p></content></level><level class="para1"><num>(b)</num><content><p>the total value of the unconnected creditors is the total value of those unconnected creditors whose claims have been admitted for voting.</p></content></level></subsection></quotedStructure></mod></p></content></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-4-part-3-crossheading-content-of-application-to-the-court-for-extension-of-moratorium"><heading><i>Content of application to the court for extension of moratorium</i></heading><paragraph eId="schedule-4-paragraph-29" class="schProv1"><num>29</num><subparagraph eId="schedule-4-paragraph-29-1"><num>(1)</num><intro><p>An application by the directors of a company for the extension of a moratorium under section A13 of the Insolvency Act 1986 must state—</p></intro><level class="para1" eId="schedule-4-paragraph-29-1-a"><num>(a)</num><content><p>that it is made under that section,</p></content></level><level class="para1" eId="schedule-4-paragraph-29-1-b"><num>(b)</num><content><p>the length of the extension sought,</p></content></level><level class="para1" eId="schedule-4-paragraph-29-1-c"><num>(c)</num><content><p>identification details for the company to which the application relates,</p></content></level><level class="para1" eId="schedule-4-paragraph-29-1-d"><num>(d)</num><content><p>the company's address for service, and</p></content></level><level class="para1" eId="schedule-4-paragraph-29-1-e"><num>(e)</num><content><p>the court (and where applicable, the division or district registry of that court) or hearing centre in which the application is made.</p></content></level></subparagraph><subparagraph eId="schedule-4-paragraph-29-2"><num>(2)</num><content><p>The application must be authenticated by or on behalf of the directors.</p></content></subparagraph><subparagraph eId="schedule-4-paragraph-29-3"><num>(3)</num><content><p>Rule 1.5 of the England and Wales Insolvency Rules applies for the purposes of authentication under sub-paragraph (2).</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-4-part-3-crossheading-timing-of-statements-accompanying-application-to-court-for-extension-of-moratorium"><heading><i>Timing of statements accompanying application to court for extension of moratorium</i></heading><paragraph eId="schedule-4-paragraph-30" class="schProv1"><num>30</num><content><p>A statement under section A13(2) must be made within the period of 3 days ending with the day on which the application under that section is made.</p></content></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-4-part-3-crossheading-notices-about-change-in-end-of-moratorium"><heading><i>Notices about change in end of moratorium</i></heading><paragraph eId="schedule-4-paragraph-31" class="schProv1"><num>31</num><subparagraph eId="schedule-4-paragraph-31-1"><num>(1)</num><content><p>A notice under section A17(1) of the Insolvency Act 1986 must be given within the period of 5 days beginning with the day on which the duty to give the notice arises.</p></content></subparagraph><subparagraph eId="schedule-4-paragraph-31-2"><num>(2)</num><intro><p>The notice must state—</p></intro><level class="para1" eId="schedule-4-paragraph-31-2-a"><num>(a)</num><content><p>the name of the company to which it relates, and</p></content></level><level class="para1" eId="schedule-4-paragraph-31-2-b"><num>(b)</num><content><p>the provision by virtue of which the moratorium was extended or came to an end.</p></content></level></subparagraph></paragraph><paragraph eId="schedule-4-paragraph-32" class="schProv1"><num>32</num><subparagraph eId="schedule-4-paragraph-32-1"><num>(1)</num><content><p>A notice under section A17(2) or (3) of the Insolvency Act 1986 must be given within the period of 5 days beginning with the day on which the duty to give the notice arises.</p></content></subparagraph><subparagraph eId="schedule-4-paragraph-32-2"><num>(2)</num><intro><p>The notice must state—</p></intro><level class="para1" eId="schedule-4-paragraph-32-2-a"><num>(a)</num><content><p>the provision under which it is given,</p></content></level><level class="para1" eId="schedule-4-paragraph-32-2-b"><num>(b)</num><content><p>the nature of the notice,</p></content></level><level class="para1" eId="schedule-4-paragraph-32-2-c"><num>(c)</num><content><p>the date of the notice,</p></content></level><level class="para1" eId="schedule-4-paragraph-32-2-d"><num>(d)</num><content><p>that it is given by the monitor acting in that capacity,</p></content></level><level class="para1" eId="schedule-4-paragraph-32-2-e"><num>(e)</num><content><p>the name and contact details of the monitor, and</p></content></level><level class="para1" eId="schedule-4-paragraph-32-2-f"><num>(f)</num><content><p>the identification details for the company to which it relates.</p></content></level></subparagraph><subparagraph eId="schedule-4-paragraph-32-3"><num>(3)</num><content><p>A notice under section A17(2) or (3) of the Insolvency Act 1986 that is given to the registrar of companies must be authenticated by or on behalf of the monitor.</p></content></subparagraph><subparagraph eId="schedule-4-paragraph-32-4"><num>(4)</num><content><p>Rule 1.5 of the England and Wales Insolvency Rules applies for the purposes of authentication under sub-paragraph (3).</p></content></subparagraph></paragraph><paragraph eId="schedule-4-paragraph-33" class="schProv1"><num>33</num><intro><p>Where a moratorium comes to an end under section A16 of the Insolvency Act 1986 because the company has entered into a relevant insolvency procedure within the meaning of that section, the notices under section A17(1) and (2) must state—</p></intro><level class="para1" eId="schedule-4-paragraph-33-a"><num>(a)</num><content><p>the date on which the company entered into the relevant insolvency procedure, and</p></content></level><level class="para1" eId="schedule-4-paragraph-33-b"><num>(b)</num><content><p>the name and contact details of the supervisor of the voluntary arrangement, the administrator or the liquidator.</p></content></level></paragraph><paragraph eId="schedule-4-paragraph-34" class="schProv1"><num>34</num><subparagraph eId="schedule-4-paragraph-34-1"><num>(1)</num><content><p>A notice under section A17(4) of the Insolvency Act 1986 must be given within the period of 3 business days beginning with the day on which the notice under section A38(1) of that Act is filed with the court.</p></content></subparagraph><subparagraph eId="schedule-4-paragraph-34-2"><num>(2)</num><content><p>The notice under section A17(4) of that Act must be accompanied by the notice that the monitor has filed with the court under section A38(1) of that Act.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-4-part-3-crossheading-notification-by-directors-of-insolvency-proceedings-etc"><heading><i>Notification by directors of insolvency proceedings etc</i></heading><paragraph eId="schedule-4-paragraph-35" class="schProv1"><num>35</num><subparagraph eId="schedule-4-paragraph-35-1"><num>(1)</num><content><p>A notice under section A24(1) of the Insolvency Act 1986 must be given before the period of 3 days ending with the day on which the step mentioned there is taken.</p></content></subparagraph><subparagraph eId="schedule-4-paragraph-35-2"><num>(2)</num><content><p>A notice under section A24(2) of the Insolvency Act 1986 must be given within the period of 3 days beginning with the day on which the duty to give the notice arises.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-4-part-3-crossheading-notice-of-termination-of-moratorium"><heading><i>Notice of termination of moratorium</i></heading><paragraph eId="schedule-4-paragraph-36" class="schProv1"><num>36</num><subparagraph eId="schedule-4-paragraph-36-1"><num>(1)</num><content><p>A notice under section A38(1) of the Insolvency Act 1986 must be filed with the court as soon as practicable after the duty in that subsection arises.</p></content></subparagraph><subparagraph eId="schedule-4-paragraph-36-2"><num>(2)</num><intro><p>The notice must state—</p></intro><level class="para1" eId="schedule-4-paragraph-36-2-a"><num>(a)</num><content><p>the provision under which it is given,</p></content></level><level class="para1" eId="schedule-4-paragraph-36-2-b"><num>(b)</num><content><p>the nature of the notice,</p></content></level><level class="para1" eId="schedule-4-paragraph-36-2-c"><num>(c)</num><content><p>the date of the notice,</p></content></level><level class="para1" eId="schedule-4-paragraph-36-2-d"><num>(d)</num><content><p>the name and contact details of the monitor,</p></content></level><level class="para1" eId="schedule-4-paragraph-36-2-e"><num>(e)</num><content><p>the identification details for the company to which it relates,</p></content></level><level class="para1" eId="schedule-4-paragraph-36-2-f"><num>(f)</num><content><p>the grounds on which the moratorium is being terminated,</p></content></level><level class="para1" eId="schedule-4-paragraph-36-2-g"><num>(g)</num><content><p>the monitor's reasons for concluding that those grounds are made out,</p></content></level><level class="para1" eId="schedule-4-paragraph-36-2-h"><num>(h)</num><content><p>the date on which the monitor concluded that those grounds were made out, and</p></content></level><level class="para1" eId="schedule-4-paragraph-36-2-i"><num>(i)</num><content><p>the court (and where applicable, the division or district registry of that court) or hearing centre in which the notice is to be filed.</p></content></level></subparagraph><subparagraph eId="schedule-4-paragraph-36-3"><num>(3)</num><content><p>The notice must be authenticated by or on behalf of the monitor.</p></content></subparagraph><subparagraph eId="schedule-4-paragraph-36-4"><num>(4)</num><content><p>Rule 1.5 of the England and Wales Insolvency Rules applies for the purposes of authentication under sub-paragraph (3).</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-4-part-3-crossheading-termination-of-moratorium-under-section-a381d-of-the-insolvency-act-1986"><heading><i>Termination of moratorium under section A38(1)(d) of the Insolvency Act 1986</i></heading><paragraph eId="schedule-4-paragraph-37" class="schProv1"><num>37</num><intro><p>For the purposes of deciding whether to bring a moratorium to an end under section A38(1)(d) of the Insolvency Act 1986 the monitor must disregard—</p></intro><level class="para1" eId="schedule-4-paragraph-37-a"><num>(a)</num><content><p>any debts that the monitor has reasonable grounds for thinking are likely to be paid within 5 days of the decision, and</p></content></level><level class="para1" eId="schedule-4-paragraph-37-b"><num>(b)</num><content><p>any debts in respect of which the creditor has agreed to defer payment until a time that is later than the decision.</p></content></level></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-4-part-3-crossheading-replacement-of-monitor-or-additional-monitor-statement-and-consent-to-act"><heading><i>Replacement of monitor or additional monitor: statement and consent to act</i></heading><paragraph eId="schedule-4-paragraph-38" class="schProv1"><num>38</num><subparagraph eId="schedule-4-paragraph-38-1"><num>(1)</num><intro><p>A statement under section A39(4) of the Insolvency Act 1986 must be headed “Proposed monitor's statement and consent to act” and must contain the following—</p></intro><level class="para1" eId="schedule-4-paragraph-38-1-a"><num>(a)</num><content><p>a certificate that the proposed monitor is qualified to act as an insolvency practitioner in relation to the company,</p></content></level><level class="para1" eId="schedule-4-paragraph-38-1-b"><num>(b)</num><content><p>the proposed monitor's IP number,</p></content></level><level class="para1" eId="schedule-4-paragraph-38-1-c"><num>(c)</num><content><p>the name of the relevant recognised professional body which is the source of the proposed monitor's authorisation to act in relation to the company, and</p></content></level><level class="para1" eId="schedule-4-paragraph-38-1-d"><num>(d)</num><content><p>a statement that the proposed monitor consents to act as monitor in relation to the company.</p></content></level></subparagraph><subparagraph eId="schedule-4-paragraph-38-2"><num>(2)</num><content><p>The statement must be made within the period of 5 days ending with the day on which it is filed with the court.</p></content></subparagraph><subparagraph eId="schedule-4-paragraph-38-3"><num>(3)</num><content><p>In this paragraph “<term refersTo="#term-ip-number" eId="term-ip-number">IP number</term>” means the number assigned to an office-holder as an insolvency practitioner by the Secretary of State.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-4-part-3-crossheading-replacement-of-monitor-or-additional-monitor-notification"><heading><i>Replacement of monitor or additional monitor: notification</i></heading><paragraph eId="schedule-4-paragraph-39" class="schProv1"><num>39</num><subparagraph eId="schedule-4-paragraph-39-1"><num>(1)</num><intro><p>A notice under section A39(8) of the Insolvency Act 1986 must state—</p></intro><level class="para1" eId="schedule-4-paragraph-39-1-a"><num>(a)</num><content><p>the provision under which it is given,</p></content></level><level class="para1" eId="schedule-4-paragraph-39-1-b"><num>(b)</num><content><p>the nature of the notice,</p></content></level><level class="para1" eId="schedule-4-paragraph-39-1-c"><num>(c)</num><content><p>the date of the notice,</p></content></level><level class="para1" eId="schedule-4-paragraph-39-1-d"><num>(d)</num><content><p>the identification details for the company to which it relates,</p></content></level><level class="para1" eId="schedule-4-paragraph-39-1-e"><num>(e)</num><content><p>that it is given by the monitor acting in that capacity, and</p></content></level><level class="para1" eId="schedule-4-paragraph-39-1-f"><num>(f)</num><content><p>the name and contact details of the monitor.</p></content></level></subparagraph><subparagraph eId="schedule-4-paragraph-39-2"><num>(2)</num><content><p>The notice must be authenticated by the monitor.</p></content></subparagraph><subparagraph eId="schedule-4-paragraph-39-3"><num>(3)</num><content><p>Rule 1.5 of the England and Wales Insolvency Rules applies for the purposes of authentication under this paragraph.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-4-part-3-crossheading-challenge-to-monitors-remuneration"><heading><i>Challenge to monitor's remuneration</i></heading><paragraph eId="schedule-4-paragraph-40" class="schProv1"><num>40</num><subparagraph eId="schedule-4-paragraph-40-1"><num>(1)</num><content><p>An administrator or liquidator of a company may apply to the court on the ground that remuneration charged by the monitor in relation to a prior moratorium for the company under Part A1 of the Insolvency Act 1986 was excessive.</p></content></subparagraph><subparagraph eId="schedule-4-paragraph-40-2"><num>(2)</num><content><p>An application under this paragraph may not be made after the end of the period of 2 years beginning with the day after the moratorium ends.</p></content></subparagraph><subparagraph eId="schedule-4-paragraph-40-3"><num>(3)</num><intro><p>On an application under this paragraph the court may—</p></intro><level class="para1" eId="schedule-4-paragraph-40-3-a"><num>(a)</num><content><p>dismiss the application,</p></content></level><level class="para1" eId="schedule-4-paragraph-40-3-b"><num>(b)</num><content><p>order the monitor to repay some or all of the remuneration, or</p></content></level><level class="para1" eId="schedule-4-paragraph-40-3-c"><num>(c)</num><content><p>make such other order as it thinks fit.</p></content></level></subparagraph><subparagraph eId="schedule-4-paragraph-40-4"><num>(4)</num><content><p>The costs of an application under this paragraph are, unless the court orders otherwise, to be paid as an expense of the administration or liquidation.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-4-part-3-crossheading-challenge-to-directors-actions-qualifying-decision-procedure"><heading><i>Challenge to directors' actions: qualifying decision procedure</i></heading><paragraph eId="schedule-4-paragraph-41" class="schProv1"><num>41</num><intro><p>Where the court makes an order by virtue of section A44(4)(c) of the Insolvency Act 1986 requiring a decision of a company's creditors, the following provisions of the England and Wales Insolvency Rules apply for the purposes of that decision to the extent set out in the court's order and subject to any modifications set out in the court's order—</p></intro><level class="para1" eId="schedule-4-paragraph-41-a"><num>(a)</num><content><p>Part 15 (decision making);</p></content></level><level class="para1" eId="schedule-4-paragraph-41-b"><num>(b)</num><content><p>Part 16 (proxies).</p></content></level></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-4-part-3-crossheading-priority-of-moratorium-debts-etc-in-subsequent-winding-up"><heading><i>Priority of moratorium debts etc in subsequent winding up</i></heading><paragraph eId="schedule-4-paragraph-42" class="schProv1"><num>42</num><subparagraph eId="schedule-4-paragraph-42-1"><num>(1)</num><intro><p>Where section 174A of the Insolvency Act 1986 applies, the moratorium debts and pre-moratorium debts mentioned in subsection (2)(b) of that section are payable in the following order of priority—</p></intro><level class="para1" eId="schedule-4-paragraph-42-1-a"><num>(a)</num><content><p>amounts payable in respect of goods or services supplied during the moratorium under a contract where, but for section 233B(3) or (4) of that Act, the supplier would not have had to make that supply;</p></content></level><level class="para1" eId="schedule-4-paragraph-42-1-b"><num>(b)</num><content><p>wages or salary arising under a contract of employment;</p></content></level><level class="para1" eId="schedule-4-paragraph-42-1-c"><num>(c)</num><content><p>other debts or other liabilities apart from the monitor's remuneration or expenses;</p></content></level><level class="para1" eId="schedule-4-paragraph-42-1-d"><num>(d)</num><content><p>the monitor's remuneration or expenses.</p></content></level></subparagraph><subparagraph eId="schedule-4-paragraph-42-2"><num>(2)</num><content><p>In this paragraph “<term refersTo="#term-wages-or-salary" eId="term-wages-or-salary">wages or salary</term>” has the same meaning as in section A18 of the Insolvency Act 1986.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-4-part-3-crossheading-priority-of-moratorium-debts-etc-in-subsequent-administration"><heading><i>Priority of moratorium debts etc in subsequent administration</i></heading><paragraph eId="schedule-4-paragraph-43" class="schProv1"><num>43</num><subparagraph eId="schedule-4-paragraph-43-1"><num>(1)</num><intro><p>Where paragraph 64A(1) of Schedule B1 to the Insolvency Act 1986 applies, the moratorium debts and pre-moratorium debts mentioned in paragraph 64A(2) of that Schedule are payable in the following order of priority—</p></intro><level class="para1" eId="schedule-4-paragraph-43-1-a"><num>(a)</num><content><p>amounts payable in respect of goods or services supplied during the moratorium under a contract where, but for section 233B(3) or (4) of that Act, the supplier would not have had to make that supply;</p></content></level><level class="para1" eId="schedule-4-paragraph-43-1-b"><num>(b)</num><content><p>wages or salary arising under a contract of employment;</p></content></level><level class="para1" eId="schedule-4-paragraph-43-1-c"><num>(c)</num><content><p>other debts or other liabilities apart from the monitor's remuneration or expenses;</p></content></level><level class="para1" eId="schedule-4-paragraph-43-1-d"><num>(d)</num><content><p>the monitor's remuneration or expenses.</p></content></level></subparagraph><subparagraph eId="schedule-4-paragraph-43-2"><num>(2)</num><content><p>In this paragraph “<term refersTo="#term-wages-or-salary" eId="term-wages-or-salary">wages or salary</term>” has the same meaning as in section A18 of the Insolvency Act 1986.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-4-part-3-crossheading-prescribed-format-of-documents"><heading><i>Prescribed format of documents</i></heading><paragraph eId="schedule-4-paragraph-44" class="schProv1"><num>44</num><content><p>Rule 1.4 of the England and Wales Insolvency Rules (requirement for writing and form of documents) applies for the purposes of Part A1 of the Insolvency Act 1986.</p></content></paragraph><paragraph eId="schedule-4-paragraph-45" class="schProv1"><num>45</num><subparagraph eId="schedule-4-paragraph-45-1"><num>(1)</num><content><p>The following provisions of the England and Wales Insolvency Rules apply, so far as relevant, to any requirement imposed by a provision of this Part of this Schedule—</p><blockList class="unordered none" ukl:Name="UnorderedList" ukl:Decoration="none"><item><p>rule 1.8 (prescribed format of documents), and</p></item><item><p>rule 1.9(1) (variations from prescribed contents).</p></item></blockList></content></subparagraph><subparagraph eId="schedule-4-paragraph-45-2"><num>(2)</num><content><p>In their application by virtue of sub-paragraph (1), a reference in rule 1.8 or 1.9(1) to the requirements of a rule is to be read as a reference to the requirements of the provision of this Part of this Schedule.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-4-part-3-crossheading-delivery-of-documents"><heading><i>Delivery of documents</i></heading><paragraph eId="schedule-4-paragraph-46" class="schProv1"><num>46</num><content><p>The following provisions of Chapter 9 of Part 1 of the England and Wales Insolvency Rules apply for the purposes of proceedings under Part A1 of the Insolvency Act 1986 as if rule 1.36(1) included a reference to such proceedings—</p><blockList class="unordered none" ukl:Name="UnorderedList" ukl:Decoration="none"><item><p>rule 1.36(2) (delivery to registrar of companies);</p></item><item><p>rule 1.40 (delivery of documents to authorised recipients);</p></item><item><p>rule 1.41 (delivery of documents to joint office-holders);</p></item><item><p>rule 1.42 (postal delivery of documents);</p></item><item><p>rule 1.43 (delivery by document exchange);</p></item><item><p>rule 1.44 (personal delivery of documents);</p></item><item><p>rule 1.45 (electronic delivery of documents).</p></item></blockList></content></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-4-part-3-crossheading-applications-to-court"><heading><i>Applications to court</i></heading><paragraph eId="schedule-4-paragraph-47" class="schProv1"><num>47</num><subparagraph eId="schedule-4-paragraph-47-1"><num>(1)</num><intro><p>The provisions of the England and Wales Insolvency Rules specified in the Table apply, so far as relevant, for the purposes of proceedings under—</p></intro><level class="para1" eId="schedule-4-paragraph-47-1-a"><num>(a)</num><content><p>Part A1 of the Insolvency Act 1986;</p></content></level><level class="para1" eId="schedule-4-paragraph-47-1-b"><num>(b)</num><content><p>this Part of this Schedule.</p></content></level></subparagraph><subparagraph eId="schedule-4-paragraph-47-2"><num>(2)</num><intro><p>In their application by virtue of sub-paragraph (1), the provisions listed in the Table have effect with—</p></intro><level class="para1" eId="schedule-4-paragraph-47-2-a"><num>(a)</num><content><p>the modification set out in sub-paragraph (3),</p></content></level><level class="para1" eId="schedule-4-paragraph-47-2-b"><num>(b)</num><content><p>the modifications specified in the Table, and</p></content></level><level class="para1" eId="schedule-4-paragraph-47-2-c"><num>(c)</num><content><p>any other necessary modifications.</p></content></level></subparagraph><subparagraph eId="schedule-4-paragraph-47-3"><num>(3)</num><content><p>The modification is that any reference to Part 1 of the Insolvency Act 1986 includes a reference to Part A1 of that Act and this Part of this Schedule.</p></content></subparagraph><subparagraph eId="schedule-4-paragraph-47-4"><num>(4)</num><content><p>This is the Table referred to in sub-paragraphs (1) and (2)—</p><tblock class="table" ukl:Orientation="portrait"><foreign><default:table xmlns="http://www.w3.org/1999/xhtml"><default:colgroup><default:col style="width:24%"/><default:col style="width:30%"/><default:col style="width:46%"/></default:colgroup><default:tbody><default:tr><default:th><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0"><i>Insolvency Rules</i></p></default:th><default:th><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0"><i>Topic</i></p></default:th><default:th><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0"><i>Modifications</i></p></default:th></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Rule 1.35</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Standard contents and authentication of applications</p></default:td><default:td/></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Rules 12.1 and 12.2</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Court rules and practice to apply etc</p></default:td><default:td/></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Rule 12.3 and Schedule 6</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Commencement of proceedings</p></default:td><default:td/></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Rules 12.7 to 12.11 and 12.13</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Making applications to court: general</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Rule 12.9 has effect as if, in relation to a regulated company (within the meaning of section A49 of the Insolvency Act 1986), it also required the application to be served on the appropriate regulator (within the meaning of that section).</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Rules 12.27 to 12.29</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Obtaining information and evidence</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Rule 12.29(3) has effect as if it included a reference to the monitor in relation to a moratorium.</p></default:td></default:tr><default:tr><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Rules 12.30, 12.31, 12.33 and 12.35 to 12.38</p></default:td><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Transfer of proceedings</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">(a) Rule 12.36(2) has effect as if the list of office-holders included the monitor in relation to a moratorium.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">(b) Rule 12.37(2) and (3) have effect as if the list of provisions included section A39 of the Insolvency Act 1986.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Rules 12.39 and 12.40</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">The court file</p></default:td><default:td/></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Rules 12.41, 12.42(5), 12.47, 12.48 and 12.50</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Costs</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Rule 12.48(2) has effect as if it required the applicant to serve a sealed copy of the application on the monitor and the company to which the moratorium relates.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Rule 12.51</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Enforcement of court orders</p></default:td><default:td/></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Rules 12.58, 12.59 and 12.61 and Schedule 10</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Appeals</p></default:td><default:td/></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Rules 12.63 to 12.65</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Court orders, formal defects and shorthand writers</p></default:td><default:td/></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Schedule 4, paragraphs 1, 4, 5 and 6</p></default:td><default:td/><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">These paragraphs of Schedule 4 apply only for the purposes of the rules applied by this Table.</p></default:td></default:tr></default:tbody></default:table></foreign></tblock></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-4-part-3-crossheading-identification-details-for-a-company"><heading><i>Identification details for a company</i></heading><paragraph eId="schedule-4-paragraph-48" class="schProv1"><num>48</num><subparagraph eId="schedule-4-paragraph-48-1"><num>(1)</num><intro><p>Where a provision of this Part of this Schedule requires a document to contain identification details for a company that is registered under the Companies Act 2006 in England and Wales, the following information must be given—</p></intro><level class="para1" eId="schedule-4-paragraph-48-1-a"><num>(a)</num><content><p>the company's registered name;</p></content></level><level class="para1" eId="schedule-4-paragraph-48-1-b"><num>(b)</num><content><p>its registered number;</p></content></level></subparagraph><subparagraph eId="schedule-4-paragraph-48-2"><num>(2)</num><intro><p>Where a provision of this Part of this Schedule requires a document to contain identification details for a company that has registered particulars under section 1046(1) of the Companies Act 2006 (registered overseas companies), the following information must be given—</p></intro><level class="para1" eId="schedule-4-paragraph-48-2-a"><num>(a)</num><content><p>the name registered by the company under section 1047 of that Act,</p></content></level><level class="para1" eId="schedule-4-paragraph-48-2-b"><num>(b)</num><content><p>the number under which it is registered, and</p></content></level><level class="para1" eId="schedule-4-paragraph-48-2-c"><num>(c)</num><content><p>the country or territory in which it is incorporated.</p></content></level></subparagraph><subparagraph eId="schedule-4-paragraph-48-3"><num>(3)</num><intro><p>Where a provision of this Part of this Schedule requires a document to contain identification details for an unregistered company that does not come within sub-paragraph (2) the following information must be given—</p></intro><level class="para1" eId="schedule-4-paragraph-48-3-a"><num>(a)</num><content><p>the company's name, and</p></content></level><level class="para1" eId="schedule-4-paragraph-48-3-b"><num>(b)</num><content><p>the postal address of any principal place of business.</p></content></level></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-4-part-3-crossheading-contact-details-of-a-monitor-or-other-officeholder"><heading><i>Contact details of a monitor or other office-holder</i></heading><paragraph eId="schedule-4-paragraph-49" class="schProv1"><num>49</num><intro><p>Where a provision of this Part of this Schedule requires a document to contain contact details of a monitor or other office-holder, the following information must be given—</p></intro><level class="para1" eId="schedule-4-paragraph-49-a"><num>(a)</num><content><p>a postal address for the monitor or office-holder, and</p></content></level><level class="para1" eId="schedule-4-paragraph-49-b"><num>(b)</num><content><p>either an email address, or a telephone number, through which the monitor may be contacted.</p></content></level></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-4-part-3-crossheading-the-england-and-wales-insolvency-rules"><heading><i>
“The England and Wales Insolvency Rules”
</i></heading><paragraph eId="schedule-4-paragraph-50" class="schProv1"><num>50</num><content><p>In this Part of this Schedule “<term refersTo="#term-the-england-and-wales-insolvency-rules" eId="term-the-england-and-wales-insolvency-rules">the England and Wales Insolvency Rules</term>” means the Insolvency (England and Wales) Rules 2016.</p></content></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-4-part-3-crossheading-interpretation-general"><heading><i>Interpretation: general</i></heading><paragraph eId="schedule-4-paragraph-51" class="schProv1"><num>51</num><content><p>Expressions used in this Part of this Schedule are to be construed as if this Part of this Schedule were contained in Part A1 of the Insolvency Act 1986.</p></content></paragraph></hcontainer></part><part eId="schedule-4-part-4"><num><b>PART 4</b></num><heading>Temporary rules: Scotland</heading><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-4-part-4-crossheading-introductory"><heading><i>Introductory</i></heading><paragraph eId="schedule-4-paragraph-52" class="schProv1"><num>52</num><content><p>Paragraphs 53 to 90 cease to have effect at the end of the relevant period, subject to paragraph 3.</p></content></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-4-part-4-crossheading-definition-of-the-court"><heading><i>Definition of “the court”</i></heading><paragraph eId="schedule-4-paragraph-53" class="schProv1"><num>53</num><content><p><mod>Section A54(1) of the Insolvency Act 1986 has effect as if for the definition of “the court” there were substituted—<quotedStructure startQuote="“" endQuote="”" uk:context="unknown" uk:docName="unknown" ukl:TargetClass="unknown" ukl:TargetSubClass="unknown" ukl:Context="unknown" ukl:Format="default"><p>“<term refersTo="#term-the-court">the court</term>”, in relation to a company, means a court having jurisdiction to wind up the company;</p></quotedStructure><inline name="appendText">.</inline></mod></p></content></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-4-part-4-crossheading-content-of-documents-relating-to-the-obtaining-or-extending-of-a-moratorium-general"><heading><i>Content of documents relating to the obtaining or extending of a moratorium: general</i></heading><paragraph eId="schedule-4-paragraph-54" class="schProv1"><num>54</num><intro><p>A notice or statement under section A6(1), A8(2), A10(1), A11(1) or A13(2) of the Insolvency Act 1986 must state—</p></intro><level class="para1" eId="schedule-4-paragraph-54-a"><num>(a)</num><content><p>the provision under which it is given or made,</p></content></level><level class="para1" eId="schedule-4-paragraph-54-b"><num>(b)</num><content><p>the nature of the notice or statement,</p></content></level><level class="para1" eId="schedule-4-paragraph-54-c"><num>(c)</num><content><p>the date of the notice or statement, and</p></content></level><level class="para1" eId="schedule-4-paragraph-54-d"><num>(d)</num><content><p>the identification details for the company to which it relates.</p></content></level></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-4-part-4-crossheading-authentication-of-documents-relating-to-obtaining-or-extending-moratorium-general"><heading><i>Authentication of documents relating to obtaining or extending moratorium: general</i></heading><paragraph eId="schedule-4-paragraph-55" class="schProv1"><num>55</num><subparagraph eId="schedule-4-paragraph-55-1"><num>(1)</num><content><p>A notice or statement under section A6(1), A10(1), A11(1) or A13(2) of the Insolvency Act 1986 must be authenticated by or on behalf of the person giving the notice or making the statement.</p></content></subparagraph><subparagraph eId="schedule-4-paragraph-55-2"><num>(2)</num><content><p>A notice under section A8(2)(a) of the Insolvency Act 1986 must be authenticated by the monitor.</p></content></subparagraph><subparagraph eId="schedule-4-paragraph-55-3"><num>(3)</num><content><p>Rule 1.6 of the Scottish Insolvency Rules applies for the purposes of authentication under this paragraph.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-4-part-4-crossheading-notice-that-directors-wish-to-obtain-a-moratorium"><heading><i>Notice that directors wish to obtain a moratorium</i></heading><paragraph eId="schedule-4-paragraph-56" class="schProv1"><num>56</num><intro><p>A notice under section A6(1)(a) of the Insolvency Act 1986 must state—</p></intro><level class="para1" eId="schedule-4-paragraph-56-a"><num>(a)</num><content><p>the company's address for service, and</p></content></level><level class="para1" eId="schedule-4-paragraph-56-b"><num>(b)</num><content><p>the court in which the documents are to be lodged under section A3 or the application under section A4 or A5 is to be made.</p></content></level></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-4-part-4-crossheading-proposed-monitors-statement-and-consent-to-act"><heading><i>Proposed monitor's statement and consent to act</i></heading><paragraph eId="schedule-4-paragraph-57" class="schProv1"><num>57</num><subparagraph eId="schedule-4-paragraph-57-1"><num>(1)</num><intro><p>A statement under section A6(1)(b) of the Insolvency Act 1986 must be headed “Proposed monitor's statement and consent to act” and must contain the following—</p></intro><level class="para1" eId="schedule-4-paragraph-57-1-a"><num>(a)</num><content><p>a certificate that the proposed monitor is qualified to act as an insolvency practitioner in relation to the company,</p></content></level><level class="para1" eId="schedule-4-paragraph-57-1-b"><num>(b)</num><content><p>the proposed monitor's IP number,</p></content></level><level class="para1" eId="schedule-4-paragraph-57-1-c"><num>(c)</num><content><p>the name of the relevant recognised professional body which is the source of the proposed monitor's authorisation to act in relation to the company, and</p></content></level><level class="para1" eId="schedule-4-paragraph-57-1-d"><num>(d)</num><content><p>a statement that the proposed monitor consents to act as monitor in relation to the company.</p></content></level></subparagraph><subparagraph eId="schedule-4-paragraph-57-2"><num>(2)</num><content><p>In this paragraph “<term refersTo="#term-ip-number" eId="term-ip-number">IP number</term>” means the number assigned to an office-holder as an insolvency practitioner by the Secretary of State.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-4-part-4-crossheading-timing-of-statements-for-obtaining-moratorium"><heading><i>Timing of statements for obtaining moratorium</i></heading><paragraph eId="schedule-4-paragraph-58" class="schProv1"><num>58</num><content><p>Each statement under section A6(1)(b) to (e) of the Insolvency Act 1986 must be made within the period of 5 days ending with the day on which the documents under section A6(1)(a) to (e) are lodged in the court (or, if the documents are lodged on different days, the last of those days).</p></content></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-4-part-4-crossheading-notice-by-monitor-where-moratorium-comes-into-force"><heading><i>Notice by monitor where moratorium comes into force</i></heading><paragraph eId="schedule-4-paragraph-59" class="schProv1"><num>59</num><intro><p>A notice under section A8(2) of the Insolvency Act 1986 must—</p></intro><level class="para1" eId="schedule-4-paragraph-59-a"><num>(a)</num><content><p>state that it is given by the monitor acting in that capacity, and</p></content></level><level class="para1" eId="schedule-4-paragraph-59-b"><num>(b)</num><content><p>state the name and contact details of the monitor.</p></content></level></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-4-part-4-crossheading-notice-that-directors-wish-to-extend-a-moratorium"><heading><i>Notice that directors wish to extend a moratorium</i></heading><paragraph eId="schedule-4-paragraph-60" class="schProv1"><num>60</num><intro><p>A notice under section A10(1)(a) or A11(1)(a) of the Insolvency Act 1986 must state—</p></intro><level class="para1" eId="schedule-4-paragraph-60-a"><num>(a)</num><content><p>the company's address for service,</p></content></level><level class="para1" eId="schedule-4-paragraph-60-b"><num>(b)</num><content><p>the court in which the notice is to be lodged.</p></content></level></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-4-part-4-crossheading-extension-under-section-a10-or-a11-of-the-insolvency-act-1986-notices-and-statements"><heading><i>Extension under section A10 or A11 of the Insolvency Act 1986: notices and statements</i></heading><paragraph eId="schedule-4-paragraph-61" class="schProv1"><num>61</num><content><p>A statement by the monitor under section A10(1)(d) or A11(1)(d) of the Insolvency Act 1986 must contain contact details of the monitor.</p></content></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-4-part-4-crossheading-timing-of-statements-for-extension-under-section-a10-or-a11"><heading><i>Timing of statements for extension under section A10 or A11</i></heading><paragraph eId="schedule-4-paragraph-62" class="schProv1"><num>62</num><content><p>Each statement under section A10(1)(b) to (d) or A11(1)(b) to (e) of the Insolvency Act 1986 must be made within the period of 3 days ending with the day on which the documents under section A10(1)(a) to (d) or A11(1)(a) to (e) are lodged in the court (or, if the documents are lodged on different days, the last of those days).</p></content></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-4-part-4-crossheading-obtaining-creditor-consent-qualifying-decision-procedure"><heading><i>Obtaining creditor consent: qualifying decision procedure</i></heading><paragraph eId="schedule-4-paragraph-63" class="schProv1"><num>63</num><subparagraph eId="schedule-4-paragraph-63-1"><num>(1)</num><intro><p>The following apply, so far as relevant, for the purposes of a decision to consent to a revised end date for a moratorium under section A12 of the Insolvency Act 1986—</p></intro><level class="para1" eId="schedule-4-paragraph-63-1-a"><num>(a)</num><content><p>Part 5 of the Scottish Insolvency Rules (decision making), apart from rule 5.8(3)(f) and (g);</p></content></level><level class="para1" eId="schedule-4-paragraph-63-1-b"><num>(b)</num><content><p>Part 6 of the Scottish Insolvency Rules (proxies), apart from rule 6.7.</p></content></level></subparagraph><subparagraph eId="schedule-4-paragraph-63-2"><num>(2)</num><content><p>In its application by virtue of sub-paragraph (1), Part 5 has effect subject to the modifications set out in paragraphs 64 to 68.</p></content></subparagraph></paragraph><paragraph eId="schedule-4-paragraph-64" class="schProv1"><num>64</num><content><p><mod>Rule 5.11 of the Scottish Insolvency Rules (notice of decision procedures etc) has effect as if, before the first entry in the table, there were inserted—<quotedStructure startQuote="“" endQuote="”" uk:context="unknown" uk:docName="unknown" ukl:TargetClass="unknown" ukl:TargetSubClass="unknown" ukl:Context="unknown" ukl:Format="default"><tblock class="table" ukl:Orientation="portrait"><foreign><default:table xmlns="http://www.w3.org/1999/xhtml"><default:colgroup><default:col style="width:25%"/><default:col style="width:25%"/><default:col style="width:25%"/><default:col style="width:25%"/></default:colgroup><default:tbody><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">moratorium</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">decision of pre-moratorium creditors under section A12 of the Act</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">the pre-moratorium creditors</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">5 days</p></default:td></default:tr></default:tbody></default:table></foreign></tblock></quotedStructure><inline name="appendText">.</inline></mod></p></content></paragraph><paragraph eId="schedule-4-paragraph-65" class="schProv1"><num>65</num><content><p><mod>Rule 5.26 of the Scottish Insolvency Rules (creditors' voting rights) has effect as if, before paragraph (1), there were inserted—<quotedStructure startQuote="“" endQuote="”" uk:context="unknown" uk:docName="unknown" ukl:TargetClass="unknown" ukl:TargetSubClass="unknown" ukl:Context="unknown" ukl:Format="default"><subsection><num>A1</num><intro><p>A pre-moratorium creditor is entitled to vote in a decision procedure under section A12 of the Act only if—</p></intro><level class="para1"><num>(a)</num><content><p>the creditor has delivered to the convener a statement of claim and documentary evidence of debt, including any calculation for the purposes of rule 5.28 or 5.29,</p></content></level><level class="para1"><num>(b)</num><content><p>the statement of claim and documentary evidence of debt were received by the convener not later than the decision date, or in the case of a meeting, at or before the meeting, and</p></content></level><level class="para1"><num>(c)</num><content><p>the statement of claim and documentary evidence of debt has been admitted for the purposes of entitlement to vote.</p></content></level></subsection></quotedStructure></mod></p></content></paragraph><paragraph eId="schedule-4-paragraph-66" class="schProv1"><num>66</num><intro><p>Rule 5.28 of the Scottish Insolvency Rules (calculation of voting rights) has effect as if—</p></intro><level class="para1" eId="schedule-4-paragraph-66-a"><num>(a)</num><content><p><mod>before paragraph (1) there were inserted—<quotedStructure startQuote="“" endQuote="”" uk:context="unknown" uk:docName="unknown" ukl:TargetClass="unknown" ukl:TargetSubClass="unknown" ukl:Context="unknown" ukl:Format="default"><subsection><num>A1</num><content><p>In relation to a decision to consent to a revised end date for a moratorium under section A12 of the Act votes are calculated according to the amount of each creditor's claim at the decision date.</p></content></subsection></quotedStructure><inline name="appendText">;</inline></mod></p></content></level><level class="para1" eId="schedule-4-paragraph-66-b"><num>(b)</num><content><p><mod>after paragraph (2) there were inserted—<quotedStructure startQuote="“" endQuote="”" uk:context="unknown" uk:docName="unknown" ukl:TargetClass="unknown" ukl:TargetSubClass="unknown" ukl:Context="unknown" ukl:Format="default"><subsection><num>(2A)</num><content><p>But in relation to a decision to consent to a revised end date for a moratorium under section A12 of the Act, a debt of an unliquidated or unascertained amount is to be valued at £1 for the purposes of voting unless the convener or chair or an appointed person decides to put a higher value on it.</p></content></subsection></quotedStructure><inline name="appendText">;</inline></mod></p></content></level><level class="para1" eId="schedule-4-paragraph-66-c"><num>(c)</num><content><p><mod>in paragraph (6), after sub-paragraph (b) there were inserted—<quotedStructure startQuote="“" endQuote="”" uk:context="unknown" uk:docName="unknown" ukl:TargetClass="unknown" ukl:TargetSubClass="unknown" ukl:Context="unknown" ukl:Format="default"><level class="para1"><num>(c)</num><content><p>where the decision relates to whether to consent to a revised end date for a moratorium under section A12 of the Act.</p></content></level></quotedStructure></mod></p></content></level></paragraph><paragraph eId="schedule-4-paragraph-67" class="schProv1"><num>67</num><content><p><mod>Rule 5.29 of the Scottish Insolvency Rules (calculation of voting rights: hire-purchase agreements) has effect as if, before paragraph (1), there were inserted—<quotedStructure startQuote="“" endQuote="”" uk:context="unknown" uk:docName="unknown" ukl:TargetClass="unknown" ukl:TargetSubClass="unknown" ukl:Context="unknown" ukl:Format="default"><subsection><num>A1</num><content><p>In relation to a decision to consent to a revised end date for a moratorium under section A12 of the Act, a pre-moratorium creditor under a hire-purchase agreement is entitled to vote in respect of the amount of the debt due and payable by the company at the decision date.</p></content></subsection><subsection><num>B1</num><content><p>In calculating the amount of any debt for the purpose of paragraph (A1), no account is to be taken of any amount attributable to the exercise of any right under the relevant agreement so far as the right has become exercisable solely by virtue of a moratorium for the company coming into force.</p></content></subsection></quotedStructure></mod></p></content></paragraph><paragraph eId="schedule-4-paragraph-68" class="schProv1"><num>68</num><content><p><mod>Rule 5.31 of the Scottish Insolvency Rules (requisite majorities) has effect as if, before paragraph (1), there were inserted—<quotedStructure startQuote="“" endQuote="”" uk:context="unknown" uk:docName="unknown" ukl:TargetClass="unknown" ukl:TargetSubClass="unknown" ukl:Context="unknown" ukl:Format="default"><subsection><num>A1</num><intro><p>Subject to paragraph (B1), a decision to consent to a revised end date for a moratorium under section A12 of the Act is made if, of those voting—</p></intro><level class="para1"><num>(a)</num><content><p>a majority (in value) of the pre-moratorium creditors who are secured creditors vote in favour of the proposed decision, and</p></content></level><level class="para1"><num>(b)</num><content><p>a majority (in value) of the pre-moratorium creditors who are unsecured creditors vote in favour of the proposed decision.</p></content></level></subsection><subsection><num>B1</num><intro><p>But a decision to consent to a revised end date for a moratorium under section A12 of the Act is not made if, of those voting either—</p></intro><level class="para1"><num>(a)</num><content><p>a majority of the pre-moratorium creditors who are unconnected secured creditors vote against the proposed end date, or</p></content></level><level class="para1"><num>(b)</num><content><p>a majority of the pre-moratorium creditors who are unconnected unsecured creditors vote against the proposed end date.</p></content></level></subsection><subsection><num>C1</num><intro><p>For the purposes of paragraph (B1)—</p></intro><level class="para1"><num>(a)</num><content><p>a creditor is unconnected unless the convener or chair decides that the creditor is connected, and</p></content></level><level class="para1"><num>(b)</num><content><p>the total value of the unconnected creditors is the total value of those unconnected creditors whose claims have been admitted for voting.</p></content></level></subsection></quotedStructure></mod></p></content></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-4-part-4-crossheading-content-of-application-to-the-court-for-extension-of-moratorium"><heading><i>Content of application to the court for extension of moratorium</i></heading><paragraph eId="schedule-4-paragraph-69" class="schProv1"><num>69</num><subparagraph eId="schedule-4-paragraph-69-1"><num>(1)</num><intro><p>An application by the directors of a company for the extension of a moratorium under section A13 of the Insolvency Act 1986 must state—</p></intro><level class="para1" eId="schedule-4-paragraph-69-1-a"><num>(a)</num><content><p>that it is made under that section,</p></content></level><level class="para1" eId="schedule-4-paragraph-69-1-b"><num>(b)</num><content><p>the length of the extension sought,</p></content></level><level class="para1" eId="schedule-4-paragraph-69-1-c"><num>(c)</num><content><p>identification details for the company to which the application relates,</p></content></level><level class="para1" eId="schedule-4-paragraph-69-1-d"><num>(d)</num><content><p>the company's address for service, and</p></content></level><level class="para1" eId="schedule-4-paragraph-69-1-e"><num>(e)</num><content><p>the court in which the application is made.</p></content></level></subparagraph><subparagraph eId="schedule-4-paragraph-69-2"><num>(2)</num><content><p>The application must be authenticated by or on behalf of the directors.</p></content></subparagraph><subparagraph eId="schedule-4-paragraph-69-3"><num>(3)</num><content><p>Rule 1.6 of the Scottish Insolvency Rules applies for the purposes of authentication under sub-paragraph (2).</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-4-part-4-crossheading-timing-of-statements-accompanying-application-to-court-for-extension-of-moratorium"><heading><i>Timing of statements accompanying application to court for extension of moratorium</i></heading><paragraph eId="schedule-4-paragraph-70" class="schProv1"><num>70</num><content><p>A statement under section A13(2) must be made within the period of 3 days ending with the day on which the application under that section is made.</p></content></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-4-part-4-crossheading-notices-about-change-in-end-of-moratorium"><heading><i>Notices about change in end of moratorium</i></heading><paragraph eId="schedule-4-paragraph-71" class="schProv1"><num>71</num><subparagraph eId="schedule-4-paragraph-71-1"><num>(1)</num><content><p>A notice under section A17(1) of the Insolvency Act 1986 must be given within the period of 5 days beginning with the day on which the duty to give the notice arises.</p></content></subparagraph><subparagraph eId="schedule-4-paragraph-71-2"><num>(2)</num><intro><p>The notice must state—</p></intro><level class="para1" eId="schedule-4-paragraph-71-2-a"><num>(a)</num><content><p>the name of the company to which it relates, and</p></content></level><level class="para1" eId="schedule-4-paragraph-71-2-b"><num>(b)</num><content><p>the provision by virtue of which the moratorium was extended or came to an end.</p></content></level></subparagraph></paragraph><paragraph eId="schedule-4-paragraph-72" class="schProv1"><num>72</num><subparagraph eId="schedule-4-paragraph-72-1"><num>(1)</num><content><p>A notice under section A17(2) or (3) of the Insolvency Act 1986 must be given within the period of 5 days beginning with the day on which the duty to give the notice arises.</p></content></subparagraph><subparagraph eId="schedule-4-paragraph-72-2"><num>(2)</num><intro><p>The notice must state—</p></intro><level class="para1" eId="schedule-4-paragraph-72-2-a"><num>(a)</num><content><p>the provision under which it is given,</p></content></level><level class="para1" eId="schedule-4-paragraph-72-2-b"><num>(b)</num><content><p>the nature of the notice,</p></content></level><level class="para1" eId="schedule-4-paragraph-72-2-c"><num>(c)</num><content><p>the date of the notice,</p></content></level><level class="para1" eId="schedule-4-paragraph-72-2-d"><num>(d)</num><content><p>that it is given by the monitor acting in that capacity,</p></content></level><level class="para1" eId="schedule-4-paragraph-72-2-e"><num>(e)</num><content><p>the name and contact details of the monitor, and</p></content></level><level class="para1" eId="schedule-4-paragraph-72-2-f"><num>(f)</num><content><p>the identification details for the company to which it relates.</p></content></level></subparagraph><subparagraph eId="schedule-4-paragraph-72-3"><num>(3)</num><content><p>A notice under section A17(2) or (3) of the Insolvency Act 1986 that is given to the registrar of companies must be authenticated by or on behalf of the monitor.</p></content></subparagraph><subparagraph eId="schedule-4-paragraph-72-4"><num>(4)</num><content><p>Rule 1.6 of the Scottish Insolvency Rules applies for the purposes of authentication under sub-paragraph (3).</p></content></subparagraph></paragraph><paragraph eId="schedule-4-paragraph-73" class="schProv1"><num>73</num><intro><p>Where a moratorium comes to an end under section A16 of the Insolvency Act 1986 because the company has entered into a relevant insolvency procedure within the meaning of that section, the notices under section A17(1) and (2) must state—</p></intro><level class="para1" eId="schedule-4-paragraph-73-a"><num>(a)</num><content><p>the date on which the company entered into the relevant insolvency procedure, and</p></content></level><level class="para1" eId="schedule-4-paragraph-73-b"><num>(b)</num><content><p>the name and contact details of the supervisor of the voluntary arrangement, the administrator or the liquidator.</p></content></level></paragraph><paragraph eId="schedule-4-paragraph-74" class="schProv1"><num>74</num><subparagraph eId="schedule-4-paragraph-74-1"><num>(1)</num><content><p>A notice under section A17(4) of the Insolvency Act 1986 must be given within the period of 3 business days beginning with the day on which the notice under section A38(1) is lodged in the court.</p></content></subparagraph><subparagraph eId="schedule-4-paragraph-74-2"><num>(2)</num><content><p>The notice under section A17(4) of that Act must be accompanied by the notice that the monitor has lodged in the court under section A38(1) of that Act.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-4-part-4-crossheading-notification-by-directors-of-insolvency-proceedings-etc"><heading><i>Notification by directors of insolvency proceedings etc</i></heading><paragraph eId="schedule-4-paragraph-75" class="schProv1"><num>75</num><subparagraph eId="schedule-4-paragraph-75-1"><num>(1)</num><content><p>A notice under section A24(1) of the Insolvency Act 1986 must be given before the period of 3 days ending with the day on which the step mentioned there is taken.</p></content></subparagraph><subparagraph eId="schedule-4-paragraph-75-2"><num>(2)</num><content><p>A notice under section A24(2) of the Insolvency Act 1986 must be given within the period of 3 days beginning with the day on which the duty to give the notice arises.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-4-part-4-crossheading-notice-of-termination-of-moratorium"><heading><i>Notice of termination of moratorium</i></heading><paragraph eId="schedule-4-paragraph-76" class="schProv1"><num>76</num><subparagraph eId="schedule-4-paragraph-76-1"><num>(1)</num><content><p>A notice under section A38(1) of the Insolvency Act 1986 must be lodged in the court as soon as practicable after the duty in that subsection arises.</p></content></subparagraph><subparagraph eId="schedule-4-paragraph-76-2"><num>(2)</num><intro><p>The notice must state—</p></intro><level class="para1" eId="schedule-4-paragraph-76-2-a"><num>(a)</num><content><p>the provision under which it is given,</p></content></level><level class="para1" eId="schedule-4-paragraph-76-2-b"><num>(b)</num><content><p>the nature of the notice,</p></content></level><level class="para1" eId="schedule-4-paragraph-76-2-c"><num>(c)</num><content><p>the date of the notice,</p></content></level><level class="para1" eId="schedule-4-paragraph-76-2-d"><num>(d)</num><content><p>the name and contact details of the monitor,</p></content></level><level class="para1" eId="schedule-4-paragraph-76-2-e"><num>(e)</num><content><p>the identification details for the company to which it relates,</p></content></level><level class="para1" eId="schedule-4-paragraph-76-2-f"><num>(f)</num><content><p>the grounds on which the moratorium is being terminated,</p></content></level><level class="para1" eId="schedule-4-paragraph-76-2-g"><num>(g)</num><content><p>the monitor's reasons for concluding that those grounds are made out,</p></content></level><level class="para1" eId="schedule-4-paragraph-76-2-h"><num>(h)</num><content><p>the date on which the monitor concluded that those grounds were made out, and</p></content></level><level class="para1" eId="schedule-4-paragraph-76-2-i"><num>(i)</num><content><p>the court in which the notice is to be lodged.</p></content></level></subparagraph><subparagraph eId="schedule-4-paragraph-76-3"><num>(3)</num><content><p>The notice must be authenticated by or on behalf of the monitor.</p></content></subparagraph><subparagraph eId="schedule-4-paragraph-76-4"><num>(4)</num><content><p>Rule 1.6 of the Scottish Insolvency Rules applies for the purposes of authentication under sub-paragraph (3).</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-4-part-4-crossheading-termination-of-moratorium-under-section-a381d-of-the-insolvency-act-1986"><heading><i>Termination of moratorium under section A38(1)(d) of the Insolvency Act 1986</i></heading><paragraph eId="schedule-4-paragraph-77" class="schProv1"><num>77</num><intro><p>For the purposes of deciding whether to bring a moratorium to an end under section A38(1)(d) of the Insolvency Act 1986 the monitor must disregard—</p></intro><level class="para1" eId="schedule-4-paragraph-77-a"><num>(a)</num><content><p>any debts that the monitor has reasonable grounds for thinking are likely to be paid within 5 days of the decision, and</p></content></level><level class="para1" eId="schedule-4-paragraph-77-b"><num>(b)</num><content><p>any debts in respect of which the creditor has agreed to defer payment until a time that is later than the decision.</p></content></level></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-4-part-4-crossheading-replacement-of-monitor-or-additional-monitor-statement-and-consent-to-act"><heading><i>Replacement of monitor or additional monitor: statement and consent to act</i></heading><paragraph eId="schedule-4-paragraph-78" class="schProv1"><num>78</num><subparagraph eId="schedule-4-paragraph-78-1"><num>(1)</num><intro><p>A statement under section A39(4) of the Insolvency Act 1986 must be headed “Proposed monitor's statement and consent to act” and must contain the following—</p></intro><level class="para1" eId="schedule-4-paragraph-78-1-a"><num>(a)</num><content><p>a certificate that the proposed monitor is qualified to act as an insolvency practitioner in relation to the company,</p></content></level><level class="para1" eId="schedule-4-paragraph-78-1-b"><num>(b)</num><content><p>the proposed monitor's IP number,</p></content></level><level class="para1" eId="schedule-4-paragraph-78-1-c"><num>(c)</num><content><p>the name of the relevant recognised professional body which is the source of the proposed monitor's authorisation to act in relation to the company, and</p></content></level><level class="para1" eId="schedule-4-paragraph-78-1-d"><num>(d)</num><content><p>a statement that the proposed monitor consents to act as monitor in relation to the company.</p></content></level></subparagraph><subparagraph eId="schedule-4-paragraph-78-2"><num>(2)</num><content><p>The statement must be made within the period of 5 days ending with the day on which it is lodged in the court.</p></content></subparagraph><subparagraph eId="schedule-4-paragraph-78-3"><num>(3)</num><content><p>In this paragraph “<term refersTo="#term-ip-number" eId="term-ip-number">IP number</term>” means the number assigned to an office-holder as an insolvency practitioner by the Secretary of State.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-4-part-4-crossheading-replacement-of-monitor-or-additional-monitor-notification"><heading><i>Replacement of monitor or additional monitor: notification</i></heading><paragraph eId="schedule-4-paragraph-79" class="schProv1"><num>79</num><subparagraph eId="schedule-4-paragraph-79-1"><num>(1)</num><intro><p>A notice under section A39(8) of the Insolvency Act 1986 must state—</p></intro><level class="para1" eId="schedule-4-paragraph-79-1-a"><num>(a)</num><content><p>the provision under which it is given,</p></content></level><level class="para1" eId="schedule-4-paragraph-79-1-b"><num>(b)</num><content><p>the nature of the notice,</p></content></level><level class="para1" eId="schedule-4-paragraph-79-1-c"><num>(c)</num><content><p>the date of the notice,</p></content></level><level class="para1" eId="schedule-4-paragraph-79-1-d"><num>(d)</num><content><p>the identification details for the company to which it relates,</p></content></level><level class="para1" eId="schedule-4-paragraph-79-1-e"><num>(e)</num><content><p>that it is given by the monitor acting in that capacity, and</p></content></level><level class="para1" eId="schedule-4-paragraph-79-1-f"><num>(f)</num><content><p>the name and contact details of the monitor.</p></content></level></subparagraph><subparagraph eId="schedule-4-paragraph-79-2"><num>(2)</num><content><p>The notice must be authenticated by the monitor.</p></content></subparagraph><subparagraph eId="schedule-4-paragraph-79-3"><num>(3)</num><content><p>Rule 1.6 of the Scottish Insolvency Rules applies for the purposes of authentication under sub-paragraph (2).</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-4-part-4-crossheading-challenge-to-monitors-remuneration"><heading><i>Challenge to monitor's remuneration</i></heading><paragraph eId="schedule-4-paragraph-80" class="schProv1"><num>80</num><subparagraph eId="schedule-4-paragraph-80-1"><num>(1)</num><content><p>An administrator or liquidator of a company may apply to the court on the ground that remuneration charged by the monitor in relation to a prior moratorium for the company under Part A1 of the Insolvency Act 1986 was excessive.</p></content></subparagraph><subparagraph eId="schedule-4-paragraph-80-2"><num>(2)</num><content><p>An application under this paragraph may not be made after the end of the period of 2 years beginning with the day after the moratorium ends.</p></content></subparagraph><subparagraph eId="schedule-4-paragraph-80-3"><num>(3)</num><intro><p>On an application under this paragraph the court may—</p></intro><level class="para1" eId="schedule-4-paragraph-80-3-a"><num>(a)</num><content><p>dismiss the application,</p></content></level><level class="para1" eId="schedule-4-paragraph-80-3-b"><num>(b)</num><content><p>order the monitor to repay some or all of the remuneration, or</p></content></level><level class="para1" eId="schedule-4-paragraph-80-3-c"><num>(c)</num><content><p>make such other order as it thinks fit.</p></content></level></subparagraph><subparagraph eId="schedule-4-paragraph-80-4"><num>(4)</num><content><p>The expenses of an application under this paragraph are, unless the court orders otherwise, to be paid as an expense of the administration or liquidation.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-4-part-4-crossheading-challenge-to-directors-actions-qualifying-decision-procedure"><heading><i>Challenge to directors' actions: qualifying decision procedure</i></heading><paragraph eId="schedule-4-paragraph-81" class="schProv1"><num>81</num><intro><p>Where the court makes an order by virtue of section A44(4)(c) of the Insolvency Act 1986 requiring a decision of a company's creditors, the following provisions of the Scottish Insolvency Rules apply for the purposes of that decision to the extent set out in the court's order and subject to any modifications set out in the court's order—</p></intro><level class="para1" eId="schedule-4-paragraph-81-a"><num>(a)</num><content><p>Part 5 (decision making);</p></content></level><level class="para1" eId="schedule-4-paragraph-81-b"><num>(b)</num><content><p>Part 6 (proxies).</p></content></level></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-4-part-4-crossheading-priority-of-moratorium-debts-etc-in-subsequent-winding-up"><heading><i>Priority of moratorium debts etc in subsequent winding up</i></heading><paragraph eId="schedule-4-paragraph-82" class="schProv1"><num>82</num><subparagraph eId="schedule-4-paragraph-82-1"><num>(1)</num><intro><p>Where section 174A of the Insolvency Act 1986 applies, the moratorium debts and pre-moratorium debts mentioned in subsection (2)(b) of that section are payable in the following order of priority—</p></intro><level class="para1" eId="schedule-4-paragraph-82-1-a"><num>(a)</num><content><p>amounts payable in respect of goods or services supplied during the moratorium under a contract where, but for section 233B(3) or (4) of that Act, the supplier would not have had to make that supply;</p></content></level><level class="para1" eId="schedule-4-paragraph-82-1-b"><num>(b)</num><content><p>wages or salary arising under a contract of employment;</p></content></level><level class="para1" eId="schedule-4-paragraph-82-1-c"><num>(c)</num><content><p>other debts or other liabilities apart from the monitor's remuneration or expenses;</p></content></level><level class="para1" eId="schedule-4-paragraph-82-1-d"><num>(d)</num><content><p>the monitor's remuneration or expenses.</p></content></level></subparagraph><subparagraph eId="schedule-4-paragraph-82-2"><num>(2)</num><content><p>In this paragraph “<term refersTo="#term-wages-or-salary" eId="term-wages-or-salary">wages or salary</term>” has the same meaning as in section A18 of the Insolvency Act 1986.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-4-part-4-crossheading-priority-of-moratorium-debts-etc-in-subsequent-administration"><heading><i>Priority of moratorium debts etc in subsequent administration</i></heading><paragraph eId="schedule-4-paragraph-83" class="schProv1"><num>83</num><subparagraph eId="schedule-4-paragraph-83-1"><num>(1)</num><intro><p>Where paragraph 64A(1) of Schedule B1 to the Insolvency Act 1986 applies, the moratorium debts and pre-moratorium debts mentioned in paragraph 64A(2) of that Schedule are payable in the following order of priority—</p></intro><level class="para1" eId="schedule-4-paragraph-83-1-a"><num>(a)</num><content><p>amounts payable in respect of goods or services supplied during the moratorium under a contract where, but for section 233B(3) or (4) of that Act, the supplier would not have had to make that supply;</p></content></level><level class="para1" eId="schedule-4-paragraph-83-1-b"><num>(b)</num><content><p>wages or salary arising under a contract of employment;</p></content></level><level class="para1" eId="schedule-4-paragraph-83-1-c"><num>(c)</num><content><p>other debts or other liabilities apart from the monitor's remuneration or expenses;</p></content></level><level class="para1" eId="schedule-4-paragraph-83-1-d"><num>(d)</num><content><p>the monitor's remuneration or expenses.</p></content></level></subparagraph><subparagraph eId="schedule-4-paragraph-83-2"><num>(2)</num><content><p>In this paragraph “<term refersTo="#term-wages-or-salary" eId="term-wages-or-salary">wages or salary</term>” has the same meaning as in section A18 of the Insolvency Act 1986.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-4-part-4-crossheading-prescribed-format-of-documents"><heading><i>Prescribed format of documents</i></heading><paragraph eId="schedule-4-paragraph-84" class="schProv1"><num>84</num><content><p>Rule 1.5 of the Scottish Insolvency Rules (requirement for writing and form of documents) applies for the purposes of Part A1 of the Insolvency Act 1986.</p></content></paragraph><paragraph eId="schedule-4-paragraph-85" class="schProv1"><num>85</num><subparagraph eId="schedule-4-paragraph-85-1"><num>(1)</num><content><p>The following provisions of the Scottish Insolvency Rules apply, so far as relevant, to any requirement imposed by a provision of this Part of this Schedule—</p><blockList class="unordered none" ukl:Name="UnorderedList" ukl:Decoration="none"><item><p>rule 1.9 (prescribed format of documents), and</p></item><item><p>rule 1.10 (variations from prescribed contents).</p></item></blockList></content></subparagraph><subparagraph eId="schedule-4-paragraph-85-2"><num>(2)</num><content><p>In their application by virtue of sub-paragraph (1), a reference in rule 1.9 or 1.10 to the requirements of a rule is to be read as a reference to the requirements of the provision of this Part of this Schedule.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-4-part-4-crossheading-delivery-of-documents"><heading><i>Delivery of documents</i></heading><paragraph eId="schedule-4-paragraph-86" class="schProv1"><num>86</num><content><p>The following provisions of Chapter 9 of Part 1 of the Scottish Insolvency Rules apply for the purposes of proceedings under Part A1 of the Insolvency Act 1986 as if rule 1.32(1) included a reference to such proceedings—</p><blockList class="unordered none" ukl:Name="UnorderedList" ukl:Decoration="none"><item><p>rule 1.32(2) to (3) (delivery to registrar of companies);</p></item><item><p>rule 1.36 (delivery of documents to authorised recipients);</p></item><item><p>rule 1.37 (delivery of documents to joint office-holders);</p></item><item><p>rule 1.38 (postal delivery of documents);</p></item><item><p>rule 1.39 (delivery by document exchange);</p></item><item><p>rule 1.40 (personal delivery of documents);</p></item><item><p>rule 1.41 (electronic delivery of documents).</p></item></blockList></content></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-4-part-4-crossheading-identification-details-for-a-company"><heading><i>Identification details for a company</i></heading><paragraph eId="schedule-4-paragraph-87" class="schProv1"><num>87</num><subparagraph eId="schedule-4-paragraph-87-1"><num>(1)</num><intro><p>Where a provision of this Part of this Schedule requires a document to contain identification details for a company that is registered under the Companies Act 2006 in Scotland, the following information must be given—</p></intro><level class="para1" eId="schedule-4-paragraph-87-1-a"><num>(a)</num><content><p>the company's registered name;</p></content></level><level class="para1" eId="schedule-4-paragraph-87-1-b"><num>(b)</num><content><p>its registered number;</p></content></level></subparagraph><subparagraph eId="schedule-4-paragraph-87-2"><num>(2)</num><intro><p>Where a provision of this Part of this Schedule requires a document to contain identification details for a company that has registered particulars under section 1046(1) of the Companies Act 2006 (registered overseas companies), the following information must be given—</p></intro><level class="para1" eId="schedule-4-paragraph-87-2-a"><num>(a)</num><content><p>the name registered by the company under section 1047 of that Act,</p></content></level><level class="para1" eId="schedule-4-paragraph-87-2-b"><num>(b)</num><content><p>the number under which it is registered, and</p></content></level><level class="para1" eId="schedule-4-paragraph-87-2-c"><num>(c)</num><content><p>the country or territory in which it is incorporated.</p></content></level></subparagraph><subparagraph eId="schedule-4-paragraph-87-3"><num>(3)</num><intro><p>Where a provision of this Part of this Schedule requires a document to contain identification details for an unregistered company that does not come within sub-paragraph (2) the following information must be given—</p></intro><level class="para1" eId="schedule-4-paragraph-87-3-a"><num>(a)</num><content><p>the company's name, and</p></content></level><level class="para1" eId="schedule-4-paragraph-87-3-b"><num>(b)</num><content><p>the postal address of any principal place of business.</p></content></level></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-4-part-4-crossheading-contact-details-of-a-monitor-or-other-officeholder"><heading><i>Contact details of a monitor or other office-holder</i></heading><paragraph eId="schedule-4-paragraph-88" class="schProv1"><num>88</num><intro><p>Where a provision of this Part of this Schedule requires a document to contain contact details of a monitor or other office-holder, the following information must be given—</p></intro><level class="para1" eId="schedule-4-paragraph-88-a"><num>(a)</num><content><p>a postal address for the monitor or office-holder, and</p></content></level><level class="para1" eId="schedule-4-paragraph-88-b"><num>(b)</num><content><p>either an email address, or a telephone number, through which the monitor may be contacted.</p></content></level></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-4-part-4-crossheading-the-scottish-insolvency-rules"><heading><i>
“The Scottish Insolvency Rules”
</i></heading><paragraph eId="schedule-4-paragraph-89" class="schProv1"><num>89</num><content><p>In this Part of this Schedule “<term refersTo="#term-the-scottish-insolvency-rules" eId="term-the-scottish-insolvency-rules">the Scottish Insolvency Rules</term>” means the Insolvency (Scotland) (Company Voluntary Arrangements and Administration) Rules 2018 (S.I. 2018/1082).</p></content></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-4-part-4-crossheading-interpretation-general"><heading><i>Interpretation: general</i></heading><paragraph eId="schedule-4-paragraph-90" class="schProv1"><num>90</num><content><p>Expressions used in this Part of this Schedule are to be construed as if this Part of this Schedule were contained in Part A1 of the Insolvency Act 1986.</p></content></paragraph></hcontainer></part><part eId="schedule-4-part-5"><num><b>PART 5</b></num><heading>Entities other than companies</heading><paragraph eId="schedule-4-paragraph-91" class="schProv1"><num>91</num><content><p>Regulations under section 14(1) of the Limited Liability Partnership Act 2000 may make provision applying or incorporating provision made by or under this Schedule, with such modifications as appear appropriate, in relation to a limited liability partnership registered in Great Britain.</p></content></paragraph><paragraph eId="schedule-4-paragraph-92" class="schProv1"><num>92</num><content><p>An order or regulations under section 118(1)(a), (3B) or (3C) of the Co-operative and Community Benefit Societies Act 2014 may provide for provision made by or under this Schedule to apply (with or without modifications) in relation to registered societies (or to registered societies of the kind mentioned there).</p></content></paragraph></part></hcontainer><hcontainer name="schedule" eId="schedule-5"><num>SCHEDULE 5<authorialNote class="referenceNote"><p>
Section 4(2)</p></authorialNote></num><heading>Moratoriums in Northern Ireland: eligible companies</heading><hcontainer name="crossheading" class="schGroup7" eId="schedule-5-paragraph-wrapper3n1"><heading/><content><p>In the Insolvency (Northern Ireland) Order 1989, before Schedule A1 (which is repealed by Schedule 7 to this Act) insert—</p><p><mod><quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="unknown" ukl:TargetClass="unknown" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="default"><hcontainer name="schedule"><num>SCHEDULE ZA1<authorialNote class="referenceNote"><p>
Article 13AA</p></authorialNote></num><heading>Moratorium: Eligible companies</heading><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Eligible companies</i></heading><paragraph class="schProv1"><num>1</num><content><p>A company is “<term refersTo="#term-eligible">eligible</term>” for the purposes of this Part unless it is excluded from being eligible by any of the following—</p><blockList class="unordered none" ukl:Name="UnorderedList" ukl:Decoration="none"><item><p>paragraph 2 (current or recent insolvency procedure);</p></item><item><p>paragraph 3 (insurance companies);</p></item><item><p>paragraph 4 (banks);</p></item><item><p>paragraph 5 (electronic money institutions);</p></item><item><p>paragraph 6 (investment banks and investment firms);</p></item><item><p>paragraph 7 (market contracts, market charges, etc);</p></item><item><p>paragraph 8 (participants in designated systems);</p></item><item><p>paragraph 9 (payment institutions);</p></item><item><p>paragraph 10 (operators of payment systems, infrastructure providers etc);</p></item><item><p>paragraph 11 (recognised investment exchanges, clearing houses and CSDs);</p></item><item><p>paragraph 12 (securitisation companies);</p></item><item><p>paragraph 13 (parties to capital market arrangements);</p></item><item><p>paragraph 15 (public-private partnership project companies);</p></item><item><p>paragraph 18 (certain overseas companies).</p></item></blockList></content></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Companies subject to, or recently subject to, moratorium or an insolvency procedure</i></heading><paragraph class="schProv1"><num>2</num><subparagraph><num>(1)</num><intro><p>A company is excluded from being eligible if—</p></intro><level class="para1"><num>(a)</num><content><p>on the filing date, a moratorium for the company is in force, or</p></content></level><level class="para1"><num>(b)</num><content><p>at any time during the period of 12 months ending with the filing date, a moratorium for the company was in force (but see Article 13F(6) for power of the High Court to modify the effect of this paragraph).</p></content></level></subparagraph><subparagraph><num>(2)</num><intro><p>A company is excluded from being eligible if—</p></intro><level class="para1"><num>(a)</num><content><p>on the filing date, the company is subject to an insolvency procedure, or</p></content></level><level class="para1"><num>(b)</num><content><p>at any time during the period of 12 months ending with the filing date, the company was subject to an insolvency procedure within sub-paragraph (3)(a) or (b).</p></content></level></subparagraph><subparagraph><num>(3)</num><intro><p>For the purposes of sub-paragraph (2), a company is subject to an insolvency procedure at any time if at that time—</p></intro><level class="para1"><num>(a)</num><content><p>a voluntary arrangement has effect in relation to the company,</p></content></level><level class="para1"><num>(b)</num><content><p>the company is in administration,</p></content></level><level class="para1"><num>(c)</num><content><p>paragraph 45 of Schedule B1 applies in relation to the company (administration: interim moratorium),</p></content></level><level class="para1"><num>(d)</num><content><p>there is an administrative receiver of the company,</p></content></level><level class="para1"><num>(e)</num><content><p>there is a provisional liquidator of the company,</p></content></level><level class="para1"><num>(f)</num><content><p>the company is being wound up, or</p></content></level><level class="para1"><num>(g)</num><content><p>a relevant petition for the winding up of the company has been presented and has not been withdrawn or determined.</p></content></level></subparagraph><subparagraph><num>(4)</num><intro><p>In sub-paragraph (3)(g) “<term refersTo="#term-relevant-petition">relevant petition</term>” means a petition under—</p></intro><level class="para1"><num>(a)</num><content><p>Article 104A (winding up on grounds of public interest),</p></content></level><level class="para1"><num>(b)</num><content><p>Article 104B (winding up of SE), or</p></content></level><level class="para1"><num>(c)</num><content><p>Article 104C (winding up of SCE).</p></content></level></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Insurance companies</i></heading><paragraph class="schProv1"><num>3</num><subparagraph><num>(1)</num><intro><p>A company is excluded from being eligible if—</p></intro><level class="para1"><num>(a)</num><content><p>it carries on the regulated activity of effecting or carrying out contracts of insurance, and</p></content></level><level class="para1"><num>(b)</num><content><p>it is not an exempt person in relation to that activity.</p></content></level></subparagraph><subparagraph><num>(2)</num><intro><p>In this paragraph—</p></intro><hcontainer name="definition"><content><p>“<term refersTo="#term-exempt-person">exempt person</term>”, in relation to a regulated activity, has the meaning given by section 417 of the Financial Services and Markets Act 2000;</p></content></hcontainer><hcontainer name="definition"><content><p>“<term refersTo="#term-regulated-activity">regulated activity</term>” has the meaning given by section 22 of that Act, taken with Schedule 2 to that Act and any order under that section.</p></content></hcontainer></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Banks</i></heading><paragraph class="schProv1"><num>4</num><subparagraph><num>(1)</num><intro><p>A company is excluded from being eligible if—</p></intro><level class="para1"><num>(a)</num><content><p>it has permission under Part 4A of the Financial Services and Markets Act 2000 to carry on the regulated activity of accepting deposits,</p></content></level><level class="para1"><num>(b)</num><content><p>it is a banking group company within the meaning of Part 1 of the Banking Act 2009 (see section 81D of that Act), or</p></content></level><level class="para1"><num>(c)</num><content><p>it has a liability in respect of a deposit which it accepted in accordance with the Banking Act 1979 or the Banking Act 1987.</p></content></level></subparagraph><subparagraph><num>(2)</num><content><p>In sub-paragraph (1)(a) “<term refersTo="#term-regulated-activity">regulated activity</term>” has the meaning given by section 22 of the Financial Services and Markets Act 2000, taken with Schedule 2 to that Act and any order under that section.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Electronic money institutions</i></heading><paragraph class="schProv1"><num>5</num><content><p>A company is excluded from being eligible if it is an electronic money institution within the meaning of the Electronic Money Regulations 2011 (S.I. 2011/99) (see regulation 2 of those Regulations).</p></content></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Investment banks and investment firms</i></heading><paragraph class="schProv1"><num>6</num><subparagraph><num>(1)</num><content><p>A company is excluded from being eligible if it is an investment bank or an investment firm.</p></content></subparagraph><subparagraph><num>(2)</num><intro><p>In this paragraph—</p></intro><hcontainer name="definition"><intro><p>“<term refersTo="#term-investment-bank">investment bank</term>” means a company that has permission under Part 4A of the Financial Services and Markets Act 2000 to carry on the regulated activity of—</p></intro><level class="para1"><num>(a)</num><content><p>safeguarding and administering investments,</p></content></level><level class="para1"><num>(b)</num><content><p>managing an AIF or a UCITS,</p></content></level><level class="para1"><num>(c)</num><content><p>acting as trustee or depositary of an AIF or a UCITS,</p></content></level><level class="para1"><num>(d)</num><content><p>dealing in investments as principal, or</p></content></level><level class="para1"><num>(e)</num><content><p>dealing in investments as agent,</p></content></level><wrapUp><p>but does not include a company that has permission to arrange for one or more others to carry on the activity mentioned in paragraph (a) if it does not otherwise have permission to carry on any of the activities mentioned in paragraphs (a) to (e);</p></wrapUp></hcontainer><hcontainer name="definition"><content><p>“<term refersTo="#term-investment-firm">investment firm</term>” has the same meaning as in the Banking Act 2009 (see section 258A of that Act), disregarding any order made under section 258A(2)(b) of that Act;</p></content></hcontainer><hcontainer name="definition"><content><p>“<term refersTo="#term-regulated-activity">regulated activity</term>” has the meaning given by section 22 of the Financial Services and Markets Act 2000, taken with Schedule 2 to that Act and any order under that section.</p></content></hcontainer></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Companies that are party to market contracts or subject to market charges, etc</i></heading><paragraph class="schProv1"><num>7</num><subparagraph><num>(1)</num><content><p>A company is excluded from being eligible if it is a party to a market contract for the purposes of Part 5 of the Companies (No. 2) (Northern Ireland) Order 1990 (see Article 80 of that Order).</p></content></subparagraph><subparagraph><num>(2)</num><content><p>A company is excluded from being eligible if any of its property is subject to a market charge for the purposes of Part 5 of the Companies (No. 2) (Northern Ireland) Order 1990 (see Article 95 of that Order).</p></content></subparagraph><subparagraph><num>(3)</num><content><p>A company is excluded from being eligible if any of its property is subject to a charge that is a system-charge, within the meaning of the Financial Markets and Insolvency Regulations (Northern Ireland) 1996 (S.R. (N.I.) 1996/252) (see regulation 2 of those Regulations).</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Participants in designated systems</i></heading><paragraph class="schProv1"><num>8</num><intro><p>A company is excluded from being eligible if—</p></intro><level class="para1"><num>(a)</num><content><p>it is a participant in a designated system, within the meaning of the Financial Markets and Insolvency (Settlement Finality) Regulations 1999 (S.I. 1999/2979) (see regulation 2 of those Regulations), or</p></content></level><level class="para1"><num>(b)</num><content><p>any of its property is subject to a collateral security charge within the meaning of those Regulations (see regulation 2 of those Regulations).</p></content></level></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Payment institutions</i></heading><paragraph class="schProv1"><num>9</num><content><p>A company is excluded from being eligible if it is an authorised payment institution, a small payment institution or a registered account information service provider within the meaning of the Payment Services Regulations 2017 (S.I. 2017/752) (see regulation 2 of those Regulations).</p></content></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Operators of payment systems, infrastructure providers etc</i></heading><paragraph class="schProv1"><num>10</num><intro><p>A company is excluded from being eligible if—</p></intro><level class="para1"><num>(a)</num><content><p>it is the operator of a payment system or an infrastructure provider within the meaning of Part 5 of the Financial Services (Banking Reform) Act 2013 (see section 42 of that Act), or</p></content></level><level class="para1"><num>(b)</num><content><p>it is an infrastructure company, within the meaning of Part 6 of that Act (see section 112 of that Act).</p></content></level></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Recognised investment exchanges, clearing houses and CSDs</i></heading><paragraph class="schProv1"><num>11</num><content><p>A company is excluded from being eligible if it is a recognised investment exchange, a recognised clearing house or a recognised CSD within the meaning of the Financial Services and Markets Act 2000 (see section 285 of that Act).</p></content></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Securitisation companies</i></heading><paragraph class="schProv1"><num>12</num><content><p>A company is excluded from being eligible if it is a securitisation company within the meaning of the Taxation of Securitisation Companies Regulations 2006 (S.I. 2006/3296) (see regulation 4 of those Regulations).</p></content></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Parties to capital market arrangement</i></heading><paragraph class="schProv1"><num>13</num><subparagraph><num>(1)</num><intro><p>A company is excluded from being eligible if, on the filing date—</p></intro><level class="para1"><num>(a)</num><content><p>it is a party to an agreement which is or forms part of a capital market arrangement (see sub-paragraph (2)),</p></content></level><level class="para1"><num>(b)</num><content><p>a party has incurred, or when the agreement was entered into was expected to incur, a debt of at least £10 million under the arrangement (at any time during the life of the capital market arrangement), and</p></content></level><level class="para1"><num>(c)</num><content><p>the arrangement involves the issue of a capital market investment (see paragraph 14).</p></content></level></subparagraph><subparagraph><num>(2)</num><intro><p>For the purposes of this paragraph, an arrangement is a “capital market arrangement” if any of the following applies—</p></intro><level class="para1"><num>(a)</num><content><p>it involves a grant of security to a person holding it as trustee for a person who holds a capital market investment issued by a party to the arrangement;</p></content></level><level class="para1"><num>(b)</num><content><p>at least one party guarantees the performance of obligations of another party;</p></content></level><level class="para1"><num>(c)</num><content><p>at least one party provides security in respect of the performance of obligations of another party;</p></content></level><level class="para1"><num>(d)</num><content><p>the arrangement involves an investment of a kind described in articles 83 to 85 of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 (S.I. 2001/544) (options, futures and contracts for differences).</p></content></level></subparagraph><subparagraph><num>(3)</num><intro><p>For the purposes of sub-paragraph (2)—</p></intro><level class="para1"><num>(a)</num><content><p>a reference to holding a security as trustee includes a reference to holding it as nominee or agent,</p></content></level><level class="para1"><num>(b)</num><content><p>a reference to holding for a person who holds a capital market investment includes a reference to holding for a number of persons at least one of whom holds a capital market investment, and</p></content></level><level class="para1"><num>(c)</num><content><p>a reference to holding a capital market investment is to holding a legal or beneficial interest in it.</p></content></level></subparagraph><subparagraph><num>(4)</num><content><p>For the purposes of sub-paragraph (1)(b), where a debt is denominated wholly or partly in a foreign currency, the sterling equivalent is to be calculated as at the time when the arrangement is entered into.</p></content></subparagraph></paragraph><paragraph class="schProv1"><num>14</num><subparagraph><num>(1)</num><content><p>For the purposes of paragraph 13 an investment is a “capital market investment” if condition A or B is met.</p></content></subparagraph><subparagraph><num>(2)</num><intro><p>Condition A is that the investment—</p></intro><level class="para1"><num>(a)</num><content><p>is within article 77 or 77A of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 (S.I. 2001/544) (debt instruments), and</p></content></level><level class="para1"><num>(b)</num><content><p>is rated, listed or traded or designed to be rated, listed or traded.</p></content></level></subparagraph><subparagraph><num>(3)</num><intro><p>In sub-paragraph (2)—</p></intro><hcontainer name="definition"><content><p>“<term refersTo="#term-listed">listed</term>” means admitted to the official list within the meaning given by section 103(1) of the Financial Services and Markets Act 2000 (interpretation);</p></content></hcontainer><hcontainer name="definition"><content><p>“<term refersTo="#term-rated">rated</term>” means rated for the purposes of investment by an internationally recognised rating agency;</p></content></hcontainer><hcontainer name="definition"><content><p>“<term refersTo="#term-traded">traded</term>” means admitted to trading on a market established under the rules of a recognised investment exchange or on a foreign market.</p></content></hcontainer></subparagraph><subparagraph><num>(4)</num><intro><p>In sub-paragraph (3)—</p></intro><hcontainer name="definition"><content><p>“<term refersTo="#term-foreign-market">foreign market</term>” has the same meaning as “<term refersTo="#term-relevant-market">relevant market</term>” in article 67(2) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (S.I. 2005/1529) (foreign markets);</p></content></hcontainer><hcontainer name="definition"><content><p>“<term refersTo="#term-recognised-investment-exchange">recognised investment exchange</term>” has the meaning given by section 285 of the Financial Services and Markets Act 2000 (recognised investment exchange).</p></content></hcontainer></subparagraph><subparagraph><num>(5)</num><intro><p>Condition B is that the investment consists of a bond or commercial paper issued to one or more of the following—</p></intro><level class="para1"><num>(a)</num><content><p>an investment professional within the meaning of article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (S.I. 2005/1529);</p></content></level><level class="para1"><num>(b)</num><content><p>a person who, when the agreement mentioned in paragraph 13(1) is entered into, is a certified high net worth individual in relation to a communication within the meaning of article 48(2) of that Order;</p></content></level><level class="para1"><num>(c)</num><content><p>a person to whom article 49(2) of that Order applies (high net worth company, etc);</p></content></level><level class="para1"><num>(d)</num><content><p>a person who, when the agreement mentioned in paragraph 13(1) is entered into, is a certified sophisticated investor in relation to a communication within the meaning of article 50(1) of that Order;</p></content></level><level class="para1"><num>(e)</num><content><p>a person in a State other than the United Kingdom who under the law of that State is not prohibited from investing in bonds or commercial paper.</p></content></level></subparagraph><subparagraph><num>(6)</num><intro><p>For the purposes of sub-paragraph (5)—</p></intro><level class="para1"><num>(a)</num><intro><p>in applying article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005—</p></intro><level class="para2"><num>(i)</num><content><p>in article 19(5)(b), ignore the words after “exempt person”,</p></content></level><level class="para2"><num>(ii)</num><content><p><mod>in article 19(5)(c)(i), for the words from “the controlled activity” to the end substitute <quotedText>“
a controlled activity
”</quotedText>, and</mod></p></content></level><level class="para2"><num>(iii)</num><content><p>in article 19(5)(e), ignore the words from “where the communication” to the end;</p></content></level></level><level class="para1"><num>(b)</num><content><p>in applying article 49(2) of that Order, ignore article 49(2)(e);</p></content></level><level class="para1"><num>(c)</num><intro><p>“<term refersTo="#term-bond">bond</term>” means—</p></intro><level class="para2"><num>(i)</num><content><p>a bond that is within article 77(1) of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001, or</p></content></level><level class="para2"><num>(ii)</num><content><p>an alternative finance investment bond within the meaning of article 77A of that Order;</p></content></level></level><level class="para1"><num>(d)</num><content><p>“<term refersTo="#term-commercial-paper">commercial paper</term>” has the meaning given by article 9(3) of that Order.</p></content></level></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Public-private partnership project companies</i></heading><paragraph class="schProv1"><num>15</num><subparagraph><num>(1)</num><intro><p>A company is excluded from being eligible if, on the filing date, it is a project company of a project which—</p></intro><level class="para1"><num>(a)</num><content><p>is a public-private partnership project (see paragraph 16), and</p></content></level><level class="para1"><num>(b)</num><content><p>includes step-in rights (see paragraph 17).</p></content></level></subparagraph><subparagraph><num>(2)</num><intro><p>For the purposes of this paragraph a company is a “project company” of a project if any of the following applies—</p></intro><level class="para1"><num>(a)</num><content><p>it holds property for the purpose of the project;</p></content></level><level class="para1"><num>(b)</num><content><p>it has sole or principal responsibility under an agreement for carrying out all or part of the project;</p></content></level><level class="para1"><num>(c)</num><content><p>it is one of a number of companies which together carry out the project;</p></content></level><level class="para1"><num>(d)</num><content><p>it has the purpose of supplying finance to enable the project to be carried out;</p></content></level><level class="para1"><num>(e)</num><content><p>it is the holding company of a company within any of paragraphs (a) to (d).</p></content></level></subparagraph><subparagraph><num>(3)</num><intro><p>But a company is not a “project company” of a project if—</p></intro><level class="para1"><num>(a)</num><content><p>it performs a function within sub-paragraph (2)(a) to (d) or is within sub-paragraph (2)(e), but</p></content></level><level class="para1"><num>(b)</num><intro><p>it also performs a function which is not—</p></intro><level class="para2"><num>(i)</num><content><p>within sub-paragraph (2)(a) to (d),</p></content></level><level class="para2"><num>(ii)</num><content><p>related to a function within sub-paragraph (2)(a) to (d), or</p></content></level><level class="para2"><num>(iii)</num><content><p>related to the project.</p></content></level></level></subparagraph><subparagraph><num>(4)</num><content><p>For the purposes of this paragraph a company carries out all or part of a project whether or not it acts wholly or partly through agents.</p></content></subparagraph></paragraph><paragraph class="schProv1"><num>16</num><subparagraph><num>(1)</num><intro><p>For the purposes of paragraph 15 “<term refersTo="#term-public-private-partnership-project">public-private partnership project</term>” means a project—</p></intro><level class="para1"><num>(a)</num><content><p>the resources for which are provided partly by one or more public bodies and partly by one or more private persons, or</p></content></level><level class="para1"><num>(b)</num><content><p>which is designed wholly or mainly for the purpose of assisting a public body to discharge a function.</p></content></level></subparagraph><subparagraph><num>(2)</num><intro><p>In sub-paragraph (1) “<term refersTo="#term-public-body">public body</term>” means—</p></intro><level class="para1"><num>(a)</num><content><p>a body which exercises public functions,</p></content></level><level class="para1"><num>(b)</num><content><p>a body specified for the purposes of this paragraph by the Department, or</p></content></level><level class="para1"><num>(c)</num><content><p>a body within a class specified for the purposes of this paragraph by the Department.</p></content></level></subparagraph><subparagraph><num>(3)</num><intro><p>In sub-paragraph (1)(a) “<term refersTo="#term-resources">resources</term>” includes—</p></intro><level class="para1"><num>(a)</num><content><p>funds (including payment for the provision of services or facilities);</p></content></level><level class="para1"><num>(b)</num><content><p>assets;</p></content></level><level class="para1"><num>(c)</num><content><p>professional skill;</p></content></level><level class="para1"><num>(d)</num><content><p>the grant of a concession or franchise;</p></content></level><level class="para1"><num>(e)</num><content><p>any other commercial resource.</p></content></level></subparagraph><subparagraph><num>(4)</num><intro><p>A specification under sub-paragraph (2) may be—</p></intro><level class="para1"><num>(a)</num><content><p>general, or</p></content></level><level class="para1"><num>(b)</num><content><p>for the purpose of the application of paragraph 15 to a specified case.</p></content></level></subparagraph></paragraph><paragraph class="schProv1"><num>17</num><subparagraph><num>(1)</num><intro><p>For the purposes of paragraph 15 a project has “step-in rights” if a person who provides finance in connection with the project has a conditional entitlement under an agreement to—</p></intro><level class="para1"><num>(a)</num><content><p>assume sole or principal responsibility under an agreement for carrying out all or part of the project, or</p></content></level><level class="para1"><num>(b)</num><content><p>make arrangements for carrying out all or part of the project.</p></content></level></subparagraph><subparagraph><num>(2)</num><content><p>In sub-paragraph (1) a reference to the provision of finance includes a reference to the provision of an indemnity.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Overseas companies with corresponding functions</i></heading><paragraph class="schProv1"><num>18</num><intro><p>A company is excluded from being eligible if its registered office or head office is outside the United Kingdom and—</p></intro><level class="para1"><num>(a)</num><content><p>its functions correspond to those of a company mentioned in any of the previous paragraphs of this Schedule apart from paragraph 2 and, if it were a company registered under the Companies Act 2006 in Northern Ireland, it would be excluded from being eligible by that paragraph, or</p></content></level><level class="para1"><num>(b)</num><content><p>it has entered into a transaction or done anything else that, if done in Northern Ireland by a company registered under the Companies Act 2006 in Northern Ireland, would result in the company being excluded by any of the previous paragraphs of this Schedule apart from paragraph 2.</p></content></level></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Interpretation of Schedule</i></heading><paragraph class="schProv1"><num>19</num><subparagraph><num>(1)</num><content><p>This paragraph applies for the purposes of this Schedule.</p></content></subparagraph><subparagraph><num>(2)</num><intro><p>“<term refersTo="#term-agreement">Agreement</term>” includes any agreement or undertaking effected by—</p></intro><level class="para1"><num>(a)</num><content><p>contract,</p></content></level><level class="para1"><num>(b)</num><content><p>deed, or</p></content></level><level class="para1"><num>(c)</num><content><p>any other instrument intended to have effect in accordance with the law of Northern Ireland or another jurisdiction.</p></content></level></subparagraph><subparagraph><num>(3)</num><content><p>“<term refersTo="#term-the-filing-date">The filing date</term>” means the date on which documents are filed with the High Court under Article 13B, 13BA or 13BB.</p></content></subparagraph><subparagraph><num>(4)</num><intro><p>“Party” to an arrangement includes a party to an agreement which—</p></intro><level class="para1"><num>(a)</num><content><p>forms part of the arrangement,</p></content></level><level class="para1"><num>(b)</num><content><p>provides for the raising of finance as part of the arrangement, or</p></content></level><level class="para1"><num>(c)</num><content><p>is necessary for the purposes of implementing the arrangement.</p></content></level></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Power to amend Schedule</i></heading><paragraph class="schProv1"><num>20</num><subparagraph><num>(1)</num><content><p>Regulations may amend this Schedule, apart from paragraph 2, so as to alter the circumstances in which a company is “<term refersTo="#term-eligible">eligible</term>” for the purposes of this Part.</p></content></subparagraph><subparagraph><num>(2)</num><content><p>Regulations may not be made under this paragraph unless a draft of the regulations has been laid before, and approved by a resolution of, the Assembly.</p></content></subparagraph></paragraph></hcontainer></hcontainer></quotedStructure></mod></p></content></hcontainer></hcontainer><hcontainer name="schedule" eId="schedule-6"><num>SCHEDULE 6<authorialNote class="referenceNote"><p>
Section 4(3)</p></authorialNote></num><heading>Moratoriums in Northern Ireland: contracts involving financial services</heading><hcontainer name="crossheading" class="schGroup7" eId="schedule-6-paragraph-wrapper4n1"><heading/><content><p>In the Insolvency (Northern Ireland) Order 1989, after Schedule ZA1 (inserted by Schedule 5 to this Act) insert—</p><p><mod><quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="unknown" ukl:TargetClass="unknown" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="default"><hcontainer name="schedule"><num>SCHEDULE ZA2<authorialNote class="referenceNote"><p>
Article 13D</p></authorialNote></num><heading>Moratorium: contract or other instrument involving financial services</heading><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Introductory</i></heading><paragraph class="schProv1"><num>1</num><content><p>For the purposes of Article 13D “<term refersTo="#term-contract-or-other-instrument-involving-financial-services">contract or other instrument involving financial services</term>” means a contract or other instrument to which any of the following paragraphs applies.</p></content></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Financial contracts</i></heading><paragraph class="schProv1"><num>2</num><subparagraph><num>(1)</num><content><p>This paragraph applies to a financial contract.</p></content></subparagraph><subparagraph><num>(2)</num><intro><p>“<term refersTo="#term-financial-contract">Financial contract</term>” means—</p></intro><level class="para1"><num>(a)</num><intro><p>a contract for the provision of financial services consisting of—</p></intro><level class="para2"><num>(i)</num><content><p>lending (including the factoring and financing of commercial transactions),</p></content></level><level class="para2"><num>(ii)</num><content><p>financial leasing, or</p></content></level><level class="para2"><num>(iii)</num><content><p>providing guarantees or commitments;</p></content></level></level><level class="para1"><num>(b)</num><intro><p>a securities contract, including—</p></intro><level class="para2"><num>(i)</num><content><p>a contract for the purchase, sale or loan of a security, group or index of securities;</p></content></level><level class="para2"><num>(ii)</num><content><p>an option on a security or group or index of securities;</p></content></level><level class="para2"><num>(iii)</num><content><p>a repurchase or reverse repurchase transaction on any such security, group or index;</p></content></level></level><level class="para1"><num>(c)</num><intro><p>a commodities contract, including—</p></intro><level class="para2"><num>(i)</num><content><p>a contract for the purchase, sale or loan of a commodity or group or index of commodities for future delivery;</p></content></level><level class="para2"><num>(ii)</num><content><p>an option on a commodity or group or index of commodities;</p></content></level><level class="para2"><num>(iii)</num><content><p>a repurchase or reverse repurchase transaction on any such commodity, group or index;</p></content></level></level><level class="para1"><num>(d)</num><content><p>a futures or forwards contract, including a contract (other than a commodities contract) for the purchase, sale or transfer of a commodity or property of any other description, service, right or interest for a specified price at a future date;</p></content></level><level class="para1"><num>(e)</num><intro><p>a swap agreement, including—</p></intro><level class="para2"><num>(i)</num><content><p>a swap or option relating to interest rates, spot or other foreign exchange agreements, currency, an equity index or equity, a debt index or debt, commodity indexes or commodities, weather, emissions or inflation;</p></content></level><level class="para2"><num>(ii)</num><content><p>a total return, credit spread or credit swap;</p></content></level><level class="para2"><num>(iii)</num><content><p>any agreement or transaction that is similar to an agreement that is referred to in sub-paragraph (i) or (ii) and is the subject of recurrent dealing in the swaps or derivatives markets;</p></content></level></level><level class="para1"><num>(f)</num><content><p>an inter-bank borrowing agreement where the term of the borrowing is three months or less;</p></content></level><level class="para1"><num>(g)</num><content><p>a master agreement for any of the contracts or agreements referred to in paragraphs (a) to (f).</p></content></level></subparagraph><subparagraph><num>(3)</num><intro><p>For the purposes of this paragraph “<term refersTo="#term-commodities">commodities</term>” includes—</p></intro><level class="para1"><num>(a)</num><content><p>units recognised for compliance with the requirements of EU Directive <ref eId="c00002" href="http://www.legislation.gov.uk/european/directive/2003/0087">2003/87/EC</ref> establishing a scheme for greenhouse gas emission allowance trading,</p></content></level><level class="para1"><num>(b)</num><content><p>allowances under paragraph 5 of Schedule 2 to the Climate Change Act 2008 relating to a trading scheme dealt with under Part 1 of that Schedule (schemes limiting activities relating to emissions of greenhouse gas), and</p></content></level><level class="para1"><num>(c)</num><intro><p>renewables obligation certificates issued—</p></intro><level class="para2"><num>(i)</num><content><p>by the Gas and Electricity Markets Authority under an order made under section 32B of the Electricity Act 1989, or</p></content></level><level class="para2"><num>(ii)</num><content><p>by the Northern Ireland Authority for Utility Regulation under the Energy (Northern Ireland) Order 2003 (S.I. 2003/419 (N.I. 6)) and pursuant to an order made under Articles 52 to 55F of that Order.</p></content></level></level></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Securities financing transactions</i></heading><paragraph class="schProv1"><num>3</num><subparagraph><num>(1)</num><intro><p>This paragraph applies to—</p></intro><level class="para1"><num>(a)</num><content><p>a securities financing transaction, and</p></content></level><level class="para1"><num>(b)</num><content><p>a master agreement for securities financing transactions.</p></content></level></subparagraph><subparagraph><num>(2)</num><content><p>“<term refersTo="#term-securities-financing-transaction">Securities financing transaction</term>” has the meaning given by Article 3(11) of <ref href="http://www.legislation.gov.uk/european/regulation/2015/2365">Regulation (EU) 2015/2365</ref> on the transparency of securities financing transactions.</p></content></subparagraph><subparagraph><num>(3)</num><content><p>But for the purposes of that Article as it applies for the purposes of this paragraph, references to “commodities” in that Regulation are to be taken as including the units, allowances and certificates referred to in paragraph 2(3)(a), (b) and (c).</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Derivatives</i></heading><paragraph class="schProv1"><num>4</num><subparagraph><num>(1)</num><intro><p>This paragraph applies to—</p></intro><level class="para1"><num>(a)</num><content><p>a derivative, and</p></content></level><level class="para1"><num>(b)</num><content><p>a master agreement for derivatives.</p></content></level></subparagraph><subparagraph><num>(2)</num><content><p>“<term refersTo="#term-derivative">Derivative</term>” has the meaning given by Article 2(5) of <ref href="http://www.legislation.gov.uk/european/regulation/2012/0648">Regulation (EU) No. 648/2012</ref>.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Spot contracts</i></heading><paragraph class="schProv1"><num>5</num><subparagraph><num>(1)</num><intro><p>This paragraph applies to—</p></intro><level class="para1"><num>(a)</num><content><p>a spot contract, and</p></content></level><level class="para1"><num>(b)</num><content><p>a master agreement for spot contracts.</p></content></level></subparagraph><subparagraph><num>(2)</num><content><p>“<term refersTo="#term-spot-contract">Spot contract</term>” has the meaning given by Article 7(2) or 10(2) of Commission Delegated Regulation of 25.4.2016 supplementing <ref href="http://www.legislation.gov.uk/european/directive/2014/0065">Directive 2014/65/EU</ref> of the European Parliament and of the Council as regards organisational requirements and operating conditions for investment firms and defined terms for the purposes of that Directive.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Capital market investments</i></heading><paragraph class="schProv1"><num>6</num><subparagraph><num>(1)</num><content><p>This paragraph applies to an agreement which is, or forms part of, an arrangement involving the issue of a capital market investment.</p></content></subparagraph><subparagraph><num>(2)</num><content><p>“<term refersTo="#term-capital-market-investment">Capital market investment</term>” has the meaning given by paragraph 14 of Schedule ZA1.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Contracts forming part of a public-private partnership</i></heading><paragraph class="schProv1"><num>7</num><content><p>This paragraph applies to a contract forming part of a public-private partnership project within the meaning given by paragraph 16 of Schedule ZA1.</p></content></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Market contracts</i></heading><paragraph class="schProv1"><num>8</num><content><p>This paragraph applies to a market contract within the meaning of Part 5 of the Companies (No.2) (Northern Ireland) Order 1990 (see Article 80 of that Order).</p></content></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Qualifying collateral arrangements and qualifying property transfers</i></heading><paragraph class="schProv1"><num>9</num><content><p>This paragraph applies to qualifying collateral arrangements and qualifying property transfers within the meaning of Part 7 of the Companies Act 1989 (see section 155A of that Act).</p></content></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Contracts secured by certain charges or arrangements</i></heading><paragraph class="schProv1"><num>10</num><intro><p>This paragraph applies to a contract where any obligation under the contract is—</p></intro><level class="para1"><num>(a)</num><content><p>secured by a market charge within the meaning of Part 5 of the Companies (No.2) (Northern Ireland) Order 1990 (see Article 95 of that Order),</p></content></level><level class="para1"><num>(b)</num><content><p>secured by a system-charge within the meaning of the Financial Markets and Insolvency Regulations (Northern Ireland) 1996 (S.R. (N.I.) 1996/252) (see regulation 2 of those Regulations), or</p></content></level><level class="para1"><num>(c)</num><content><p>secured or otherwise covered by a financial collateral arrangement within the meaning of the Financial Collateral Arrangements (No. 2) Regulations 2003 (S.I. 2003/3226) (see regulation 3 of those Regulations).</p></content></level></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Default arrangements and transfer orders</i></heading><paragraph class="schProv1"><num>11</num><content><p>This paragraph applies to a contract which is included in default arrangements, or a transfer order, within the meaning of the Financial Markets and Insolvency (Settlement Finality) Regulations 1999 (S.I. 1999/2979) (see regulation 2 of those Regulations).</p></content></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Card-based payment transactions</i></heading><paragraph class="schProv1"><num>12</num><content><p>This paragraph applies to a contract to accept and process card-based payment transactions within the meaning given by <ref href="http://www.legislation.gov.uk/european/regulation/2015/0751">Regulation (EU) 2015/751</ref> of the European Parliament and of the Council of 29th April 2015 on interchange fees for card-based payment transactions.</p></content></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Power to amend Schedule</i></heading><paragraph class="schProv1"><num>13</num><subparagraph><num>(1)</num><content><p>Regulations may amend this Schedule so as to change the meaning of “<term refersTo="#term-contract-or-other-instrument-involving-financial-services">contract or other instrument involving financial services</term>” for the purposes of Article 13D.</p></content></subparagraph><subparagraph><num>(2)</num><content><p>Regulations may not be made under this paragraph unless a draft of the regulations has been laid before, and approved by a resolution of, the Assembly.</p></content></subparagraph></paragraph></hcontainer></hcontainer></quotedStructure></mod></p></content></hcontainer></hcontainer><hcontainer name="schedule" eId="schedule-7"><num>SCHEDULE 7<authorialNote class="referenceNote"><p>
Section 5</p></authorialNote></num><heading>Moratoriums in Northern Ireland: further amendments</heading><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-7-crossheading-the-insolvency-northern-ireland-order-1989"><heading><i>The Insolvency (Northern Ireland) Order 1989</i></heading><paragraph eId="schedule-7-paragraph-1" class="schProv1"><num>1</num><content><p>The Insolvency (Northern Ireland) Order 1989 is amended as follows.</p></content></paragraph><paragraph eId="schedule-7-paragraph-2" class="schProv1"><num>2</num><content><p><mod>In each of the following places, for “Parts II to VII” substitute <quotedText>“
Parts 1A to 7
”</quotedText></mod></p><blockList class="unordered none" ukl:Name="UnorderedList" ukl:Decoration="none"><item><p>the heading before Article 5;</p></item><item><p>Article 5(1);</p></item><item><p>Article 6(1) and (2);</p></item><item><p>Article 7;</p></item><item><p>Article 8;</p></item><item><p>the heading before Parts 2 to 7;</p></item><item><p>Article 315(6);</p></item><item><p>Article 366(1);</p></item><item><p>Article 374(1).</p></item></blockList></content></paragraph><paragraph eId="schedule-7-paragraph-3" class="schProv1"><num>3</num><intro><p>In Article 2(2), in the definition of “regulations”—</p></intro><level class="para1" eId="schedule-7-paragraph-3-a"><num>(a)</num><content><p><mod>after “(except in” insert <quotedText>“
Part 1A, Article 148A(6),
”</quotedText>;</mod></p></content></level><level class="para1" eId="schedule-7-paragraph-3-b"><num>(b)</num><content><p>omit “and paragraph 16 of Schedule A1”.</p></content></level></paragraph><paragraph eId="schedule-7-paragraph-4" class="schProv1"><num>4</num><subparagraph eId="schedule-7-paragraph-4-1"><num>(1)</num><content><p>Article 3 (meaning of “act as insolvency practitioner”) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-7-paragraph-4-2"><num>(2)</num><content><p><mod>In paragraph (1)(a), for “or administrative receiver” substitute <quotedText>“
, administrative receiver or monitor
”</quotedText>.</mod></p></content></subparagraph><subparagraph eId="schedule-7-paragraph-4-3"><num>(3)</num><content><p><mod>In paragraph (4), at the appropriate place insert—<quotedStructure startQuote="“" endQuote="”" uk:context="unknown" uk:docName="unknown" ukl:TargetClass="unknown" ukl:TargetSubClass="unknown" ukl:Context="unknown" ukl:Format="default"><p>“<term refersTo="#term-monitor">monitor</term>” has the same meaning as in Part 1A (moratorium).</p></quotedStructure></mod></p></content></subparagraph></paragraph><paragraph eId="schedule-7-paragraph-5" class="schProv1"><num>5</num><content><p><mod>In Article 6 (meaning of “insolvency” etc), in paragraph (1), after “includes” insert <quotedText>“
the coming into force of a moratorium for the company under Part 1A,
”</quotedText>.</mod></p></content></paragraph><paragraph eId="schedule-7-paragraph-6" class="schProv1"><num>6</num><content><p>Omit Article 14A (moratorium where directors propose voluntary arrangement).</p></content></paragraph><paragraph eId="schedule-7-paragraph-7" class="schProv1"><num>7</num><content><p>In Article 15 (procedure where nominee is not the liquidator or administrator), in paragraph (1), omit from “and the directors” to the end.</p></content></paragraph><paragraph eId="schedule-7-paragraph-8" class="schProv1"><num>8</num><subparagraph eId="schedule-7-paragraph-8-1"><num>(1)</num><content><p>Article 17 (decision of the company and its creditors in relation to voluntary arrangement) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-7-paragraph-8-2"><num>(2)</num><content><p><mod>After paragraph (4) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="unknown" uk:docName="unknown" ukl:TargetClass="unknown" ukl:TargetSubClass="unknown" ukl:Context="unknown" ukl:Format="default"><subsection><num>(4A)</num><intro><p>Where the nominee's report under Article 15(2) is submitted to the Court before the end of the period of 12 weeks beginning with the day after the end of any moratorium for the company under Part 1A, a meeting so summoned may not approve any proposal or modification under which the following are to be paid otherwise than in full—</p></intro><level class="para1"><num>(a)</num><content><p>moratorium debts (within the meaning given by Article 148A);</p></content></level><level class="para1"><num>(b)</num><content><p>priority pre-moratorium debts (within the meaning given by Article 148A);</p></content></level><wrapUp><p>but this is subject to paragraph (4B).</p></wrapUp></subsection><subsection><num>(4B)</num><content><p>Paragraph (4A) does not prevent the approval of such a proposal or modification with the concurrence of the creditor concerned.</p></content></subsection></quotedStructure></mod></p></content></subparagraph><subparagraph eId="schedule-7-paragraph-8-3"><num>(3)</num><content><p><mod>In paragraph (5), for “and (4)” substitute <quotedText>“
to (4B)
”</quotedText>.</mod></p></content></subparagraph></paragraph><paragraph eId="schedule-7-paragraph-9" class="schProv1"><num>9</num><subparagraph eId="schedule-7-paragraph-9-1"><num>(1)</num><content><p>Article 17A (approval of voluntary arrangement) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-7-paragraph-9-2"><num>(2)</num><content><p><mod>In paragraph (2)(b), for “(4)” substitute <quotedText>“
(6)
”</quotedText>.</mod></p></content></subparagraph><subparagraph eId="schedule-7-paragraph-9-3"><num>(3)</num><intro><p>In paragraph (5)—</p></intro><level class="para1" eId="schedule-7-paragraph-9-3-a"><num>(a)</num><content><p><mod>for “within the meaning given by paragraph 54 of Schedule A1” substitute <quotedText>“
as defined by Article 13H(13)
”</quotedText>;</mod></p></content></level><level class="para1" eId="schedule-7-paragraph-9-3-b"><num>(b)</num><content><p><mod>for “within the meaning of paragraph 54 of Schedule A1” substitute <quotedText>“
as defined by Article 13H(13)
”</quotedText>.</mod></p></content></level></subparagraph></paragraph><paragraph eId="schedule-7-paragraph-10" class="schProv1"><num>10</num><subparagraph eId="schedule-7-paragraph-10-1"><num>(1)</num><content><p>Article 18 (effect of approval of voluntary arrangement) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-7-paragraph-10-2"><num>(2)</num><content><p><mod>In paragraph (3), for “paragraph (4)” substitute <quotedText>“
paragraphs (3A) and (4)
”</quotedText>.</mod></p></content></subparagraph><subparagraph eId="schedule-7-paragraph-10-3"><num>(3)</num><content><p><mod>After paragraph (3) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="unknown" uk:docName="unknown" ukl:TargetClass="unknown" ukl:TargetSubClass="unknown" ukl:Context="unknown" ukl:Format="default"><subsection><num>(3A)</num><content><p>Where immediately before the voluntary arrangement took effect a moratorium for the company was in force under Part 1A and a petition for the winding up of the company, other than an excepted petition within the meaning of Article 13DB, was presented before the beginning of the moratorium, the High Court must dismiss the petition.</p></content></subsection></quotedStructure></mod></p></content></subparagraph><subparagraph eId="schedule-7-paragraph-10-4"><num>(4)</num><content><p><mod>In paragraph (4) after “paragraph (3)(a)” insert <quotedText>“
or dismiss a petition under paragraph (3A)
”</quotedText>.</mod></p></content></subparagraph></paragraph><paragraph eId="schedule-7-paragraph-11" class="schProv1"><num>11</num><subparagraph eId="schedule-7-paragraph-11-1"><num>(1)</num><content><p>Article 20A (prosecution of delinquent officers of company) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-7-paragraph-11-2"><num>(2)</num><content><p><mod>For paragraph (1) substitute—<quotedStructure startQuote="“" endQuote="”" uk:context="unknown" uk:docName="unknown" ukl:TargetClass="unknown" ukl:TargetSubClass="unknown" ukl:Context="unknown" ukl:Format="default"><subsection><num>(1)</num><content><p>This Article applies where the approval of a voluntary arrangement in relation to a company has taken effect under Article 17A.</p></content></subsection></quotedStructure></mod></p></content></subparagraph><subparagraph eId="schedule-7-paragraph-11-3"><num>(3)</num><intro><p>In paragraph (2)—</p></intro><level class="para1" eId="schedule-7-paragraph-11-3-a"><num>(a)</num><content><p><mod>for the words before sub-paragraph (a) substitute <quotedText>“
If it appears to the supervisor that any past or present officer of the company has committed an offence in connection with the voluntary arrangement, the supervisor must forthwith
”</quotedText>;</mod></p></content></level><level class="para1" eId="schedule-7-paragraph-11-3-b"><num>(b)</num><content><p>in sub-paragraph (b), omit “nominee or”.</p></content></level></subparagraph><subparagraph eId="schedule-7-paragraph-11-4"><num>(4)</num><content><p>In paragraph (8), omit “nominee or”.</p></content></subparagraph></paragraph><paragraph eId="schedule-7-paragraph-12" class="schProv1"><num>12</num><intro><p>In Article 20B (arrangements coming to an end prematurely) omit—</p></intro><level class="para1" eId="schedule-7-paragraph-12-a"><num>(a)</num><content><p>“or paragraph 46 of Schedule A1”;</p></content></level><level class="para1" eId="schedule-7-paragraph-12-b"><num>(b)</num><content><p>“or, as the case may be, paragraph 47(2)(b)(i) of Schedule A1”.</p></content></level></paragraph><paragraph eId="schedule-7-paragraph-13" class="schProv1"><num>13</num><content><p><mod>In Article 100 (expenses of voluntary winding up), at the beginning insert <quotedText>“
After the payment of any liabilities to which Article 148A applies,
”</quotedText>.</mod></p></content></paragraph><paragraph eId="schedule-7-paragraph-14" class="schProv1"><num>14</num><content><p>In Article 102 (circumstances in which company may be wound up by the High Court), omit sub-paragraph (fa).</p></content></paragraph><paragraph eId="schedule-7-paragraph-15" class="schProv1"><num>15</num><content><p>In Article 104 (application for winding up by the High Court), omit paragraph (4A).</p></content></paragraph><paragraph eId="schedule-7-paragraph-16" class="schProv1"><num>16</num><content><p><mod>In Article 107 (avoidance of property dispositions etc), after paragraph (2) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="order" ukl:Context="main" ukl:Format="default"><paragraph><num>(3)</num><content><p>This Article has no effect in respect of anything done during a moratorium under Part 1A, or during a period mentioned in Article 18(4)(a) following the end of a moratorium, where the winding-up order was made on a petition presented before the moratorium begins, unless the petition was presented under section 367 of the Financial Services and Markets Act 2000 on the ground mentioned in section 367(3)(b) of that Act.</p></content></paragraph></quotedStructure></mod></p></content></paragraph><paragraph eId="schedule-7-paragraph-17" class="schProv1"><num>17</num><content><p><mod>Before Article 149 (and before the italic heading “Preferential debts” above that Article) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="unknown" uk:docName="unknown" ukl:TargetClass="unknown" ukl:TargetSubClass="unknown" ukl:Context="unknown" ukl:Format="default"><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Moratorium: order of priority of payment of debts</i></heading><hcontainer name="subheading" ukl:Name="PsubBlock"><heading><i>Moratorium debts etc: priority</i></heading><section><num>148A</num><subsection><num>(1)</num><content><p>This Article applies where proceedings for the winding up of a company are begun before the end of the period of 12 weeks beginning with the day after the end of any moratorium for the company under Part 1A.</p></content></subsection><subsection><num>(2)</num><intro><p>In the winding up, the following are payable out of the company's assets (in the order of priority shown) in preference to all other claims—</p></intro><level class="para1"><num>(a)</num><content><p>any prescribed fees or expenses of the official receiver acting in any capacity in relation to the company;</p></content></level><level class="para1"><num>(b)</num><content><p>moratorium debts and priority pre-moratorium debts.</p></content></level></subsection><subsection><num>(3)</num><intro><p>In paragraph (2)(b) “<term refersTo="#term-priority-pre-moratorium-debt">priority pre-moratorium debt</term>” means—</p></intro><level class="para1"><num>(a)</num><intro><p>any pre-moratorium debt that is payable in respect of—</p></intro><level class="para2"><num>(i)</num><content><p>the monitor's remuneration or expenses,</p></content></level><level class="para2"><num>(ii)</num><content><p>goods or services supplied during the moratorium,</p></content></level><level class="para2"><num>(iii)</num><content><p>rent in respect of a period during the moratorium, or</p></content></level><level class="para2"><num>(iv)</num><content><p>wages or salary arising under a contract of employment, so far as relating to a period of employment before or during the moratorium,</p></content></level></level><level class="para1"><num>(b)</num><intro><p>any pre-moratorium debt that—</p></intro><level class="para2"><num>(i)</num><content><p>consists of a liability to make a redundancy payment, and</p></content></level><level class="para2"><num>(ii)</num><content><p>fell due before or during the moratorium, and</p></content></level></level><level class="para1"><num>(c)</num><intro><p>any pre-moratorium debt that—</p></intro><level class="para2"><num>(i)</num><content><p>arises under a contract or other instrument involving financial services,</p></content></level><level class="para2"><num>(ii)</num><content><p>fell due before or during the moratorium, and</p></content></level><level class="para2"><num>(iii)</num><content><p>is not relevant accelerated debt (see paragraph (4)).</p></content></level></level></subsection><subsection><num>(4)</num><intro><p>For the purposes of paragraph (3)(c)—</p></intro><hcontainer name="definition"><content><p>“<term refersTo="#term-relevant-accelerated-debt">relevant accelerated debt</term>” means any pre-moratorium debt that fell due during the relevant period by reason of the operation of, or the exercise of rights under, an acceleration or early termination clause in a contract or other instrument involving financial services;</p></content></hcontainer><hcontainer name="definition"><intro><p>“<term refersTo="#term-the-relevant-period">the relevant period</term>” means the period—</p></intro><level class="para1"><num>(a)</num><content><p>beginning with the day on which the statement under Article 13BC(1)(e) is made, and</p></content></level><level class="para1"><num>(b)</num><content><p>ending with the last day of the moratorium.</p></content></level></hcontainer></subsection><subsection><num>(5)</num><content><p>The rules may make provision as to the order in which the debts mentioned in paragraph (2)(b) rank among themselves in a case where the assets of the company are insufficient to meet them in full.</p></content></subsection><subsection><num>(6)</num><content><p>Regulations may amend this Article for the purposes of changing the definition of “moratorium debt” or “priority pre-moratorium debt” in this Article.</p></content></subsection><subsection><num>(7)</num><content><p>Regulations under paragraph (6) may make consequential, supplementary, incidental or transitional provision or savings.</p></content></subsection><subsection><num>(8)</num><content><p>Regulations may not be made under paragraph (6) unless a draft of the regulations has been laid before, and approved by a resolution of, the Assembly.</p></content></subsection><subsection><num>(9)</num><intro><p>For the purposes of this Article proceedings for the winding up of a company are begun when—</p></intro><level class="para1"><num>(a)</num><content><p>a winding-up petition is presented, or</p></content></level><level class="para1"><num>(b)</num><content><p>a resolution for voluntary winding up is passed.</p></content></level></subsection><subsection><num>(10)</num><content><p>Any rules made under Article 13D(4) (meaning of supply of goods or services) apply also for the purposes of paragraph (3)(a)(ii) of this Article.</p></content></subsection><subsection><num>(11)</num><intro><p>In this Article—</p></intro><hcontainer name="definition"><intro><p>“<term refersTo="#term-acceleration-or-early-termination-clause">acceleration or early termination clause</term>”, in relation to a contract or other instrument involving financial services, means a provision of the contract or other instrument—</p></intro><level class="para1"><num>(a)</num><content><p>under which, on the happening of an event—</p><blockList class="ordered roman parens" ukl:Name="OrderedList" ukl:Type="roman" ukl:Decoration="parens"><item><num>(i)</num><p>a debt or other liability falls due earlier than it otherwise would, or</p></item><item><num>(ii)</num><p>a debt or other liability is terminated and replaced by another debt or liability, or</p></item></blockList></content></level><level class="para1"><num>(b)</num><content><p>which confers on a party a right which, if exercised, will result in —</p><blockList class="ordered roman parens" ukl:Name="OrderedList" ukl:Type="roman" ukl:Decoration="parens"><item><num>(i)</num><p>a debt or other liability falling due earlier than it otherwise would, or</p></item><item><num>(ii)</num><p>a debt or other liability being terminated and replaced by another debt or liability;</p></item></blockList></content></level></hcontainer><hcontainer name="definition"><content><p>“<term refersTo="#term-contract-or-other-instrument-involving-financial-services">contract or other instrument involving financial services</term>” has the same meaning as it has for the purposes of Article 13D (see Schedule ZA2);</p></content></hcontainer><hcontainer name="definition"><content><p>“<term refersTo="#term-monitor's-remuneration-or-expenses">monitor's remuneration or expenses</term>” has the meaning given by Article 13D;</p></content></hcontainer><hcontainer name="definition"><content><p>“<term refersTo="#term-moratorium-debt">moratorium debt</term>” has the meaning given by Article 13HD;</p></content></hcontainer><hcontainer name="definition"><content><p>“<term refersTo="#term-pre-moratorium-debt">pre-moratorium debt</term>” has the meaning given by Article 13HD;</p></content></hcontainer><hcontainer name="definition"><content><p>“<term refersTo="#term-redundancy-payment">redundancy payment</term>” has the meaning given by Article 13D;</p></content></hcontainer><hcontainer name="definition"><content><p>“<term refersTo="#term-wages-or-salary">wages or salary</term>” has the meaning given by Article 13D.</p></content></hcontainer></subsection></section></hcontainer></hcontainer></quotedStructure></mod></p></content></paragraph><paragraph eId="schedule-7-paragraph-18" class="schProv1"><num>18</num><subparagraph eId="schedule-7-paragraph-18-1"><num>(1)</num><content><p>Article 149 (preferential debts: general provision) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-7-paragraph-18-2"><num>(2)</num><intro><p>In paragraph (1), at the end insert “after the payment of—</p></intro><level class="para1" eId="schedule-7-paragraph-18-2-a"><num>(a)</num><content><p>any liabilities to which Article 148A applies, and</p></content></level><level class="para1" eId="schedule-7-paragraph-18-2-b"><num>(b)</num><content><p>expenses of the winding up.”</p></content></level></subparagraph><subparagraph eId="schedule-7-paragraph-18-3"><num>(3)</num><content><p>In paragraph (1A), omit “after the expenses of the winding up”.</p></content></subparagraph></paragraph><paragraph eId="schedule-7-paragraph-19" class="schProv1"><num>19</num><subparagraph eId="schedule-7-paragraph-19-1"><num>(1)</num><content><p>Article 197 (supplies of water, electricity, etc) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-7-paragraph-19-2"><num>(2)</num><intro><p>In paragraph (1)—</p></intro><level class="para1" eId="schedule-7-paragraph-19-2-a"><num>(a)</num><content><p>omit sub-paragraph (ba) (including the “or” at the end);</p></content></level><level class="para1" eId="schedule-7-paragraph-19-2-b"><num>(b)</num><content><p>in the words after sub-paragraph (e), omit “the nominee,”.</p></content></level></subparagraph><subparagraph eId="schedule-7-paragraph-19-3"><num>(3)</num><content><p>In paragraph (4), omit sub-paragraph (ba).</p></content></subparagraph></paragraph><paragraph eId="schedule-7-paragraph-20" class="schProv1"><num>20</num><content><p><mod>In Article 208ZA (remote attendance at meetings), as inserted by section 1(1) of the Insolvency (Amendment) Act (Northern Ireland) 2016, in paragraph (9), before sub-paragraph (a) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="order" ukl:Context="main" ukl:Format="default"><level class="para1"><num>(za)</num><content><p>the monitor in relation to a moratorium under Part 1A;</p></content></level></quotedStructure><inline name="appendText">.</inline></mod></p></content></paragraph><paragraph eId="schedule-7-paragraph-21" class="schProv1"><num>21</num><content><p><mod>In Article 208ZB (use of websites), as inserted by section 1(1) of the Insolvency (Amendment) Act (Northern Ireland) 2016, in paragraph (2), before sub-paragraph (a) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="order" ukl:Context="main" ukl:Format="default"><level class="para1"><num>(za)</num><content><p>the monitor in relation to a moratorium under Part 1A;</p></content></level></quotedStructure><inline name="appendText">.</inline></mod></p></content></paragraph><paragraph eId="schedule-7-paragraph-22" class="schProv1"><num>22</num><content><p>In Article 347 (“<term refersTo="#term-the-relevant-date" eId="term-the-relevant-date">the relevant date</term>” in relation to preferential debts), omit paragraph (2A).</p></content></paragraph><paragraph eId="schedule-7-paragraph-23" class="schProv1"><num>23</num><subparagraph eId="schedule-7-paragraph-23-1"><num>(1)</num><content><p>Article 362 (monetary limits) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-7-paragraph-23-2"><num>(2)</num><content><p><mod>In paragraph (1), before sub-paragraph (a) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="unknown" uk:docName="unknown" ukl:TargetClass="unknown" ukl:TargetSubClass="unknown" ukl:Context="unknown" ukl:Format="default"><level class="para1"><num>(za)</num><content><p>increase or reduce any of the money sums for the time being specified in the following provisions of Part 1A—</p><blockList class="unordered none" ukl:Name="UnorderedList" ukl:Decoration="none"><item><p>Article 13DG(1) (maximum amount of credit which company may obtain without disclosing moratorium);</p></item><item><p>Article 13DJ(2) (maximum amount for certain payments without obtaining monitor consent etc);</p></item><item><p>Article 13G(2) (minimum value of company property concealed or fraudulently removed, affecting criminal liability of company's officer); or</p></item></blockList></content></level></quotedStructure><inline name="appendText">.</inline></mod></p></content></subparagraph><subparagraph eId="schedule-7-paragraph-23-3"><num>(3)</num><content><p>Omit paragraph (1)(c) (money sums: company moratorium) and the “or” before it.</p></content></subparagraph></paragraph><paragraph eId="schedule-7-paragraph-24" class="schProv1"><num>24</num><content><p><mod>In Article 373 (offences: disapplication of section 20(2) of the 1954 Act), in paragraph (4), after “Articles” insert <quotedText>“
13DA(5), 13DG(3), 13DH(4), 13DI(1), 13DJ(5), 13DK(6), 13DL(2), 13DM(9), 13DN(4),
”</quotedText>.</mod></p></content></paragraph><paragraph eId="schedule-7-paragraph-25" class="schProv1"><num>25</num><content><p><mod>In Article 383(a), for “Parts 2 to 7” substitute <quotedText>“
Parts 1A to 7
”</quotedText>.</mod></p></content></paragraph><paragraph eId="schedule-7-paragraph-26" class="schProv1"><num>26</num><content><p>Omit Schedule A1 (moratorium where directors propose voluntary arrangement).</p></content></paragraph><paragraph eId="schedule-7-paragraph-27" class="schProv1"><num>27</num><subparagraph eId="schedule-7-paragraph-27-1"><num>(1)</num><content><p>Schedule B1 (administration) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-7-paragraph-27-2"><num>(2)</num><content><p>Omit paragraph 25.</p></content></subparagraph><subparagraph eId="schedule-7-paragraph-27-3"><num>(3)</num><content><p><mod>Before paragraph 66 (but after the italic heading “Distribution”) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="unknown" uk:docName="unknown" ukl:TargetClass="unknown" ukl:TargetSubClass="unknown" ukl:Context="unknown" ukl:Format="default"><section><num>65A</num><subsection><num>(1)</num><content><p>This paragraph applies where a company enters administration before the end of the period of 12 weeks beginning with the day after the end of any moratorium under Part 1A.</p></content></subsection><subsection><num>(2)</num><intro><p>The administrator must make a distribution to the creditors of the company in respect of—</p></intro><level class="para1"><num>(a)</num><content><p>moratorium debts (within the meaning given by Article 148A), and</p></content></level><level class="para1"><num>(b)</num><content><p>priority pre-moratorium debts (within the meaning given by Article 148A).</p></content></level></subsection><subsection><num>(3)</num><intro><p>A sum payable under sub-paragraph (2) is to be paid in priority to—</p></intro><level class="para1"><num>(a)</num><content><p>any security to which paragraph 71 applies;</p></content></level><level class="para1"><num>(b)</num><content><p>any sums payable under paragraph 100.</p></content></level></subsection><subsection><num>(4)</num><content><p>The administrator must realise any property necessary to comply with sub-paragraph (2).</p></content></subsection><subsection><num>(5)</num><content><p>The rules may make provision as to the order in which the moratorium and priority pre-moratorium debts rank among themselves for the purposes of this paragraph in a case where the assets of the company are insufficient to meet them in full.</p></content></subsection></section></quotedStructure></mod></p></content></subparagraph><subparagraph eId="schedule-7-paragraph-27-4"><num>(4)</num><content><p><mod>In paragraph 66, for sub-paragraph (1) substitute—<quotedStructure startQuote="“" endQuote="”" uk:context="unknown" uk:docName="unknown" ukl:TargetClass="unknown" ukl:TargetSubClass="unknown" ukl:Context="unknown" ukl:Format="default"><subsection><num>(1)</num><content><p>If the assets of a company are sufficient to meet any debts or other liabilities payable under paragraph 65A in full, the administrator of the company may make a distribution to any other creditor of the company.</p></content></subsection></quotedStructure></mod></p></content></subparagraph><subparagraph eId="schedule-7-paragraph-27-5"><num>(5)</num><content><p><mod>In paragraph 67, for “The administrator of a company” substitute <quotedText>“
If the debts or other liabilities payable under paragraph 65A have been met, the administrator of a company
”</quotedText>.</mod></p></content></subparagraph></paragraph><paragraph eId="schedule-7-paragraph-28" class="schProv1"><num>28</num><subparagraph eId="schedule-7-paragraph-28-1"><num>(1)</num><content><p>Schedule 5 (provision capable of inclusion in company insolvency rules) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-7-paragraph-28-2"><num>(2)</num><content><p><mod>In paragraph 8, after “is,” insert <quotedText>“
the monitor in relation to a moratorium under Part 1A or
”</quotedText>.</mod></p></content></subparagraph></paragraph><paragraph eId="schedule-7-paragraph-29" class="schProv1"><num>29</num><subparagraph eId="schedule-7-paragraph-29-1"><num>(1)</num><content><p>Schedule 7 (punishment of offences under the Order) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-7-paragraph-29-2"><num>(2)</num><content><p>Omit the entries relating to Schedule A1.</p></content></subparagraph><subparagraph eId="schedule-7-paragraph-29-3"><num>(3)</num><content><p><mod>At the appropriate place insert—<quotedStructure startQuote="“" endQuote="”" uk:context="unknown" uk:docName="unknown" ukl:TargetClass="unknown" ukl:TargetSubClass="unknown" ukl:Context="unknown" ukl:Format="default"><tblock class="table" ukl:Orientation="portrait"><foreign><default:table xmlns="http://www.w3.org/1999/xhtml"><default:colgroup><default:col style="width:25%"/><default:col style="width:35%"/><default:col style="width:20%"/><default:col style="width:20%"/></default:colgroup><default:tbody><default:tr><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">13BE(4)</p></default:td><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Directors failing to notify monitor of beginning of moratorium.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2 years or a fine or both.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">6 months orthe statutorymaximum orboth.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">13BE(5)</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Monitor failing to notify creditors etc of beginning of moratorium.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Level 3 on the standard scale.</p></default:td></default:tr><default:tr><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">13CH(6)</p></default:td><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Directors failing to notify monitor of change in end of moratorium.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2 years or a fine or both.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">6 months orthe statutorymaximum orboth.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">13CH(7)</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Monitor failing to notify creditors etc of change in end of moratorium.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Level 3 on the standard scale.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">13DA(5)</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Company or officer failing to state in correspondence etc that moratorium in force.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Level 3 on the standard scale.</p></default:td></default:tr><default:tr><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">13DF(4)</p></default:td><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Directors failing to notify monitor of insolvency proceedings etc.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2 years or a fine or both.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">6 months orthe statutorymaximum orboth.</p></default:td></default:tr><default:tr><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">13DG(3)(a)</p></default:td><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Company obtaining credit without disclosing existence of moratorium.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A fine.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">The statutory maximum.</p></default:td></default:tr><default:tr><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">13DG(3)(b)</p></default:td><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Obtaining credit for company without disclosing existence of moratorium.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2 years or a fine or both.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">6 months orthe statutorymaximum orboth.</p></default:td></default:tr><default:tr><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">13DH(4)(a)</p></default:td><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Company granting security without monitor's consent.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A fine.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">The statutory maximum.</p></default:td></default:tr><default:tr><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">13DH(4)(b)</p></default:td><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Authorising or permitting company to do so.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2 years or a fine or both.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">6 months orthe statutorymaximum orboth.</p></default:td></default:tr><default:tr><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">13DI(1)(a)</p></default:td><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Company entering into market contract, etc.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A fine.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">The statutory maximum.</p></default:td></default:tr><default:tr><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">13DI(1)(b)</p></default:td><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Authorising or permitting company to do so.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2 years or a fine or both.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">6 months orthe statutorymaximum orboth.</p></default:td></default:tr><default:tr><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">13DJ(5)(a)</p></default:td><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Company making unauthorised payments.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A fine.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">The statutory maximum.</p></default:td></default:tr><default:tr><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">13DJ(5)(b)</p></default:td><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Authorising or permitting company to do so.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2 years or a fine or both.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">6 months orthe statutorymaximum orboth.</p></default:td></default:tr><default:tr><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">13DK(6)(a)</p></default:td><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Company making unauthorised disposal of property.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A fine.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">The statutory maximum.</p></default:td></default:tr><default:tr><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">13DK(6)(b)</p></default:td><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Authorising or permitting such a disposal.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2 years or a fine or both.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">6 months orthe statutorymaximum orboth.</p></default:td></default:tr><default:tr><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">13DL(2)(a)</p></default:td><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Unauthorised disposal of hire-purchase property.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A fine.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">The statutory maximum.</p></default:td></default:tr><default:tr><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">13DL(2)(b)</p></default:td><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Authorising or permitting such a disposal.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2 years or a fine or both.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">6 months orthe statutorymaximum orboth.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">13DM(8)</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Directors failing to send to registrar copy of court order permitting disposal of charged property.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Level 3 on the standard scale.</p></default:td></default:tr><default:tr><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">13DM(9)(a)</p></default:td><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Company failing to comply with requirements relating to disposal of charged property.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A fine.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">The statutory maximum.</p></default:td></default:tr><default:tr><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">13DM(9)(b)</p></default:td><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Authorising or permitting such a failure.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2 years or a fine or both.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">6 months orthe statutorymaximum orboth.</p></default:td></default:tr><default:tr><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">13DN(4)(a)</p></default:td><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Company failing to comply with requirements relating to disposal of hire-purchase property.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">A fine.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">The statutory maximum.</p></default:td></default:tr><default:tr><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">13DN(4)(b)</p></default:td><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Authorising or permitting such a failure.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2 years or a fine or both.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">6 months orthe statutorymaximum orboth.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">13DN(6)</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Directors failing to send to registrar copy of court order permitting disposal of hire-purchase property.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Level 3 on the standard scale.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">13EE(9)</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Monitor failing to notify creditors etc of change in monitor.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Level 3 on the standard scale.</p></default:td></default:tr><default:tr><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">13G(1)</p></default:td><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Fraud or privity to fraud during or in anticipation of moratorium.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2 years or a fine or both.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">6 months or the statutory maximum or both.</p></default:td></default:tr><default:tr><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">13G(4)</p></default:td><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Knowingly taking in pawn or pledge, or otherwise receiving, company property.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2 years or a fine or both.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">6 months orthe statutorymaximum orboth.</p></default:td></default:tr><default:tr><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">13GA(1)</p></default:td><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">False representation or fraud for purpose of obtaining or extending moratorium.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2 years or a fine or both.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">6 months orthe statutorymaximum orboth.</p></default:td></default:tr><default:tr><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">13H(5)</p></default:td><default:td rowspan="2"><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">Directors failing to notify regulator of qualifying decision procedure in relation to regulated company</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">1. On indictment.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2 years or a fine or both.</p></default:td></default:tr><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">2. Summary.</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">6 months orthe statutorymaximum orboth.</p></default:td></default:tr></default:tbody></default:table></foreign></tblock></quotedStructure></mod></p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-7-crossheading-building-societies-act-1986"><heading><i>Building Societies Act 1986</i></heading><paragraph eId="schedule-7-paragraph-30" class="schProv1"><num>30</num><content><p>In Schedule 15A to the Building Societies Act 1986 (application of other companies insolvency legislation to building societies), in paragraph 1(2)(b), omit “(except Article 14A)”.</p></content></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-7-crossheading-limited-liability-partnerships-act-2000"><heading><i>Limited Liability Partnerships Act 2000</i></heading><paragraph eId="schedule-7-paragraph-31" class="schProv1"><num>31</num><content><p><mod>In section 14 of the Limited Liability Partnerships Act 2000 (regulations to make provision about insolvency and winding up), in subsection (1)(b), for “Parts 2” substitute <quotedText>“
Parts 1A
”</quotedText>.</mod></p></content></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-7-crossheading-the-financial-services-and-markets-act-2000-disclosure-of-confidential-information-regulations-2001"><heading><i>The Financial Services and Markets Act 2000 (Disclosure of Confidential Information) Regulations 2001</i></heading><paragraph eId="schedule-7-paragraph-32" class="schProv1"><num>32</num><content><p><mod>In Schedule 2 to the Financial Services and Markets Act 2000 (Disclosure of Confidential Information) Regulations 2001 (S.I. 2001/2188) (disclosure of confidential information), at the end of the table (after the entry inserted by Schedule 3) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="schedule" uk:docName="unknown" ukl:TargetClass="unknown" ukl:TargetSubClass="unknown" ukl:Context="schedule" ukl:Format="default"><tblock class="table" ukl:Orientation="portrait"><foreign><default:table xmlns="http://www.w3.org/1999/xhtml"><default:colgroup><default:col style="width:54%"/><default:col style="width:46%"/></default:colgroup><default:tbody><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">The monitor in relation to a moratorium under Part 1A of the Insolvency (Northern Ireland) Order 1989</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">The monitor's functions in relation to the moratorium</p></default:td></default:tr></default:tbody></default:table></foreign></tblock></quotedStructure><inline name="appendText">.</inline></mod></p></content></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-7-crossheading-the-insolvency-practitioners-regulations-northern-ireland-2006"><heading><i>The Insolvency Practitioners Regulations (Northern Ireland) 2006</i></heading><paragraph eId="schedule-7-paragraph-33" class="schProv1"><num>33</num><content><p><mod>In regulation 2 of the Insolvency Practitioners Regulations (Northern Ireland) 2006 (S.R. (N. I.) 2006/33) (interpretation: general), in paragraph (2), before sub-paragraph (a) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="regulation" ukl:Context="main" ukl:Format="default"><level class="para1"><num>(za)</num><intro><p>where the insolvency practitioner acts as the monitor in relation to a moratorium under Part 1A of the Order, whichever is the earlier of the date on which—</p></intro><level class="para2"><num>(i)</num><content><p>the moratorium comes to an end, or</p></content></level><level class="para2"><num>(ii)</num><content><p>the insolvency practitioner otherwise ceases to act as the monitor in relation to the moratorium;</p></content></level></level></quotedStructure><inline name="appendText">.</inline></mod></p></content></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-7-crossheading-insolvency-northern-ireland-order-2002-si-20023152-ni-6"><heading><i>Insolvency (Northern Ireland) Order 2002 (S.I. 2002/3152 (N.I. 6))</i></heading><paragraph eId="schedule-7-paragraph-34" class="schProv1"><num>34</num><subparagraph eId="schedule-7-paragraph-34-1"><num>(1)</num><content><p>The Insolvency (Northern Ireland) Order 2002 is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-7-paragraph-34-2"><num>(2)</num><intro><p>In Schedule 1, omit—</p></intro><level class="para1" eId="schedule-7-paragraph-34-2-a"><num>(a)</num><content><p>paragraphs 2 to 5, 7 and 8;</p></content></level><level class="para1" eId="schedule-7-paragraph-34-2-b"><num>(b)</num><content><p>paragraph 9(2)(a) and (c) and (3)(a);</p></content></level><level class="para1" eId="schedule-7-paragraph-34-2-c"><num>(c)</num><content><p>paragraphs 10 to 12.</p></content></level></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-7-crossheading-insolvency-northern-ireland-order-2005-si-20051455-ni-10"><heading><i>Insolvency (Northern Ireland) Order 2005 (S.I. 2005/1455 (N.I. 10))</i></heading><paragraph eId="schedule-7-paragraph-35" class="schProv1"><num>35</num><content><p>The Insolvency (Northern Ireland) Order 2005 is amended as follows.</p></content></paragraph><paragraph eId="schedule-7-paragraph-36" class="schProv1"><num>36</num><subparagraph eId="schedule-7-paragraph-36-1"><num>(1)</num><content><p>Article 10 is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-7-paragraph-36-2"><num>(2)</num><content><p><mod>At the end of the heading insert <quotedText>“
etc
”</quotedText>.</mod></p></content></subparagraph><subparagraph eId="schedule-7-paragraph-36-3"><num>(3)</num><intro><p>In paragraph (2)—</p></intro><level class="para1" eId="schedule-7-paragraph-36-3-a"><num>(a)</num><content><p><mod>after “by order provide for” insert<quotedText startQuote="“">—
</quotedText><quotedStructure endQuote="”" uk:context="unknown" uk:docName="unknown" ukl:TargetClass="unknown" ukl:TargetSubClass="unknown" ukl:Context="unknown" ukl:Format="default"><level class="para1"><num>(i)</num><content><p>Part 1A of the 1989 Order (moratorium), or</p></content></level></quotedStructure><inline name="appendText">;</inline></mod></p></content></level><level class="para1" eId="schedule-7-paragraph-36-3-b"><num>(b)</num><content><p>the words “a company arrangement or administration provision” become sub-paragraph (ii) of that paragraph.</p></content></level></subparagraph></paragraph><paragraph eId="schedule-7-paragraph-37" class="schProv1"><num>37</num><content><p>Omit Article 11.</p></content></paragraph><paragraph eId="schedule-7-paragraph-38" class="schProv1"><num>38</num><content><p>In Schedule 2, omit paragraph 45.</p></content></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-7-crossheading-insolvency-amendment-act-northern-ireland-2016"><heading><i>Insolvency (Amendment) Act (Northern Ireland) 2016</i></heading><paragraph eId="schedule-7-paragraph-39" class="schProv1"><num>39</num><content><p>In Schedule 3 to the Insolvency (Amendment) Act (Northern Ireland) 2016 omit paragraph 17.</p></content></paragraph></hcontainer></hcontainer><hcontainer name="schedule" eId="schedule-8"><num>SCHEDULE 8<authorialNote class="referenceNote"><p>
Section 6</p></authorialNote></num><heading>Moratoriums in Northern Ireland: temporary provision</heading><part eId="schedule-8-part-1"><num><b>PART 1</b></num><heading>“Relevant period” and powers to turn off temporary provision</heading><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-8-part-1-crossheading-relevant-period"><heading><i>
“Relevant period”
</i></heading><paragraph eId="schedule-8-paragraph-1" class="schProv1"><num>1</num><intro><p>In this Schedule “<term refersTo="#term-relevant-period" eId="term-relevant-period">relevant period</term>” means the period which—</p></intro><level class="para1" eId="schedule-8-paragraph-1-a"><num>(a)</num><content><p>begins with the day on which this Schedule comes into force, and</p></content></level><level class="para1" eId="schedule-8-paragraph-1-b"><num>(b)</num><content><p>ends with <ins class="substitution first last" ukl:ChangeId="key-b723d5ff171fa133696687356779b864-1646753963507" ukl:CommentaryRef="key-b723d5ff171fa133696687356779b864"><noteRef uk:name="commentary" href="#key-b723d5ff171fa133696687356779b864" class="commentary"/>30 March 2022</ins>.</p></content></level></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-8-part-1-crossheading-power-to-turn-off-particular-provisions-of-part-2-of-this-schedule-early"><heading><i>Power to turn off particular provisions of Part 2 of this Schedule early</i></heading><paragraph eId="schedule-8-paragraph-2" class="schProv1"><num>2</num><subparagraph eId="schedule-8-paragraph-2-1"><num>(1)</num><content><p>The Department for the Economy in Northern Ireland may by regulations provide for any provision made by Part 2 of this Schedule to cease to have effect before the end of the relevant period.</p></content></subparagraph><subparagraph eId="schedule-8-paragraph-2-2"><num>(2)</num><content><p>The regulations may include transitional provision or savings.</p></content></subparagraph><subparagraph eId="schedule-8-paragraph-2-3"><num>(3)</num><content><p>The power of the Department to make regulations under this paragraph is exercisable by statutory rule for the purposes of the Statutory Rules (Northern Ireland) Order 1979 (S.I. 1979/1573 (N.I. 12)) (and not by statutory instrument).</p></content></subparagraph><subparagraph eId="schedule-8-paragraph-2-4"><num>(4)</num><content><p>Regulations made under this paragraph are subject to negative resolution within the meaning of section 41(6) of the Interpretation Act (Northern Ireland) 1954.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-8-part-1-crossheading-power-to-turn-off-provisions-of-part-3-of-this-schedule-early-etc"><heading><i>Power to turn off provisions of Part 3 of this Schedule early etc</i></heading><paragraph eId="schedule-8-paragraph-3" class="schProv1"><num>3</num><content><p>Rules under Article 359 of the Insolvency (Northern Ireland) Order 1989 may provide for any provision made by paragraphs 13 to 54 to cease to have effect before the end of the relevant period.</p></content></paragraph><paragraph eId="schedule-8-paragraph-4" class="schProv1"><num>4</num><content><p>Rules under Article 359 of the Insolvency (Northern Ireland) Order 1989 may make transitional provision or savings in connection with any provision made by paragraphs 13 to 54 ceasing to have effect (whether by virtue of paragraph 3 or 12).</p></content></paragraph></hcontainer></part><part eId="schedule-8-part-2"><num><b>PART 2</b></num><heading>Modifications to primary legislation</heading><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-8-part-2-crossheading-eligible-company-additional-exclusion"><heading><i>
“Eligible” company: additional exclusion</i></heading><paragraph eId="schedule-8-paragraph-5" class="schProv1"><num><del class="first" ukl:ChangeId="key-58b842178fe4a2c67a9d58d914324604-1646755621196" ukl:CommentaryRef="key-58b842178fe4a2c67a9d58d914324604"><noteRef uk:name="commentary" href="#key-58b842178fe4a2c67a9d58d914324604" class="commentary"/>5</del></num><intro><p><del ukl:ChangeId="key-58b842178fe4a2c67a9d58d914324604-1646755621196" ukl:CommentaryRef="key-58b842178fe4a2c67a9d58d914324604">During the relevant period, a company is not eligible for the purposes of Article 13B, 13BA or 13BB of the Insolvency (Northern Ireland) Order 1989 if the company—</del></p></intro><level class="para1" eId="schedule-8-paragraph-5-a"><num><del ukl:ChangeId="key-58b842178fe4a2c67a9d58d914324604-1646755621196" ukl:CommentaryRef="key-58b842178fe4a2c67a9d58d914324604">(a)</del></num><content><p><del ukl:ChangeId="key-58b842178fe4a2c67a9d58d914324604-1646755621196" ukl:CommentaryRef="key-58b842178fe4a2c67a9d58d914324604">has permission under Part 4A of the Financial Services and Markets Act 2000 to carry on a regulated activity within the meaning of that Act, and</del></p></content></level><level class="para1" eId="schedule-8-paragraph-5-b"><num><del ukl:ChangeId="key-58b842178fe4a2c67a9d58d914324604-1646755621196" ukl:CommentaryRef="key-58b842178fe4a2c67a9d58d914324604">(b)</del></num><content><p><del class="last" ukl:ChangeId="key-58b842178fe4a2c67a9d58d914324604-1646755621196" ukl:CommentaryRef="key-58b842178fe4a2c67a9d58d914324604">is not subject to a requirement imposed under that Act to refrain from holding money for clients.</del></p></content></level></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-8-part-2-crossheading-relaxation-of-conditions-for-obtaining-moratorium-etc"><heading><i>Relaxation of conditions for obtaining moratorium etc</i></heading><paragraph eId="schedule-8-paragraph-6" class="schProv1"><num><del class="first" ukl:ChangeId="key-58b842178fe4a2c67a9d58d914324604-1646755648541" ukl:CommentaryRef="key-58b842178fe4a2c67a9d58d914324604"><noteRef uk:name="commentary" href="#key-58b842178fe4a2c67a9d58d914324604" class="commentary"/>6</del></num><subparagraph eId="schedule-8-paragraph-6-1"><num><del ukl:ChangeId="key-58b842178fe4a2c67a9d58d914324604-1646755648541" ukl:CommentaryRef="key-58b842178fe4a2c67a9d58d914324604">(1)</del></num><intro><p><del ukl:ChangeId="key-58b842178fe4a2c67a9d58d914324604-1646755648541" ukl:CommentaryRef="key-58b842178fe4a2c67a9d58d914324604">For the purposes of obtaining a moratorium under Article 13B of the Insolvency (Northern Ireland) Order 1989 during the relevant period—</del></p></intro><level class="para1" eId="schedule-8-paragraph-6-1-a"><num><del ukl:ChangeId="key-58b842178fe4a2c67a9d58d914324604-1646755648541" ukl:CommentaryRef="key-58b842178fe4a2c67a9d58d914324604">(a)</del></num><content><p><del ukl:ChangeId="key-58b842178fe4a2c67a9d58d914324604-1646755648541" ukl:CommentaryRef="key-58b842178fe4a2c67a9d58d914324604">Article 13B of that Order has effect as if paragraph (1)(a) were omitted;</del></p></content></level><level class="para1" eId="schedule-8-paragraph-6-1-b"><num><del ukl:ChangeId="key-58b842178fe4a2c67a9d58d914324604-1646755648541" ukl:CommentaryRef="key-58b842178fe4a2c67a9d58d914324604">(b)</del></num><content><p><del ukl:ChangeId="key-58b842178fe4a2c67a9d58d914324604-1646755648541" ukl:CommentaryRef="key-58b842178fe4a2c67a9d58d914324604">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”;</del></p></content></level><level class="para1" eId="schedule-8-paragraph-6-1-c"><num><del ukl:ChangeId="key-58b842178fe4a2c67a9d58d914324604-1646755648541" ukl:CommentaryRef="key-58b842178fe4a2c67a9d58d914324604">(c)</del></num><content><p><del ukl:ChangeId="key-58b842178fe4a2c67a9d58d914324604-1646755648541" ukl:CommentaryRef="key-58b842178fe4a2c67a9d58d914324604">Schedule ZA1 to that Order has effect as if paragraph 2(1)(b) and (2)(b) were omitted.</del></p></content></level></subparagraph><subparagraph eId="schedule-8-paragraph-6-2"><num><del ukl:ChangeId="key-58b842178fe4a2c67a9d58d914324604-1646755648541" ukl:CommentaryRef="key-58b842178fe4a2c67a9d58d914324604">(2)</del></num><content><p><del class="last" ukl:ChangeId="key-58b842178fe4a2c67a9d58d914324604-1646755648541" ukl:CommentaryRef="key-58b842178fe4a2c67a9d58d914324604">During the relevant period, only an overseas company may obtain a moratorium under Article 13BA of the Insolvency (Northern Ireland) Order 1989.</del></p></content></subparagraph></paragraph><paragraph eId="schedule-8-paragraph-7" class="schProv1"><num><del class="first" ukl:ChangeId="key-58b842178fe4a2c67a9d58d914324604-1646755657645" ukl:CommentaryRef="key-58b842178fe4a2c67a9d58d914324604"><noteRef uk:name="commentary" href="#key-58b842178fe4a2c67a9d58d914324604" class="commentary"/>7</del></num><intro><p><del ukl:ChangeId="key-58b842178fe4a2c67a9d58d914324604-1646755657645" ukl:CommentaryRef="key-58b842178fe4a2c67a9d58d914324604">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—</del></p></intro><level class="para1" eId="schedule-8-paragraph-7-a"><num><del ukl:ChangeId="key-58b842178fe4a2c67a9d58d914324604-1646755657645" ukl:CommentaryRef="key-58b842178fe4a2c67a9d58d914324604">(a)</del></num><content><p><del ukl:ChangeId="key-58b842178fe4a2c67a9d58d914324604-1646755657645" ukl:CommentaryRef="key-58b842178fe4a2c67a9d58d914324604">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”;</del></p></content></level><level class="para1" eId="schedule-8-paragraph-7-b"><num><del ukl:ChangeId="key-58b842178fe4a2c67a9d58d914324604-1646755657645" ukl:CommentaryRef="key-58b842178fe4a2c67a9d58d914324604">(b)</del></num><content><p><del class="last" ukl:ChangeId="key-58b842178fe4a2c67a9d58d914324604-1646755657645" ukl:CommentaryRef="key-58b842178fe4a2c67a9d58d914324604">Schedule ZA1 to that Order has effect as if paragraph 2(1)(b) and (2)(b) were omitted.</del></p></content></level></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-8-part-2-crossheading-relaxation-of-conditions-for-extending-moratorium-obtained-during-relevant-period"><heading><i>Relaxation of conditions for extending moratorium obtained during relevant period</i></heading><paragraph eId="schedule-8-paragraph-8" class="schProv1"><num><del class="first" ukl:ChangeId="key-58b842178fe4a2c67a9d58d914324604-1646755670412" ukl:CommentaryRef="key-58b842178fe4a2c67a9d58d914324604"><noteRef uk:name="commentary" href="#key-58b842178fe4a2c67a9d58d914324604" class="commentary"/>8</del></num><subparagraph eId="schedule-8-paragraph-8-1"><num><del ukl:ChangeId="key-58b842178fe4a2c67a9d58d914324604-1646755670412" ukl:CommentaryRef="key-58b842178fe4a2c67a9d58d914324604">(1)</del></num><content><p><del ukl:ChangeId="key-58b842178fe4a2c67a9d58d914324604-1646755670412" ukl:CommentaryRef="key-58b842178fe4a2c67a9d58d914324604">This paragraph applies in relation to a moratorium that comes into force during the relevant period.</del></p></content></subparagraph><subparagraph eId="schedule-8-paragraph-8-2"><num><del ukl:ChangeId="key-58b842178fe4a2c67a9d58d914324604-1646755670412" ukl:CommentaryRef="key-58b842178fe4a2c67a9d58d914324604">(2)</del></num><content><p><del ukl:ChangeId="key-58b842178fe4a2c67a9d58d914324604-1646755670412" ukl:CommentaryRef="key-58b842178fe4a2c67a9d58d914324604">For the purposes of extending the moratorium under Article 13CA or 13CB of the Insolvency (Northern Ireland) Order 1989, paragraph (1)(d) of that Article 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”.</del></p></content></subparagraph><subparagraph eId="schedule-8-paragraph-8-3"><num><del ukl:ChangeId="key-58b842178fe4a2c67a9d58d914324604-1646755670412" ukl:CommentaryRef="key-58b842178fe4a2c67a9d58d914324604">(3)</del></num><content><p><del class="last" ukl:ChangeId="key-58b842178fe4a2c67a9d58d914324604-1646755670412" ukl:CommentaryRef="key-58b842178fe4a2c67a9d58d914324604">In relation to an application under Article 13CD of the Insolvency (Northern Ireland) Order 1989 that the moratorium be extended, paragraph (2)(d) of that Article 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”.</del></p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-8-part-2-crossheading-monitoring-of-moratorium-obtained-during-relevant-period"><heading><i>Monitoring of moratorium obtained during relevant period</i></heading><paragraph eId="schedule-8-paragraph-9" class="schProv1"><num><del class="first" ukl:ChangeId="key-58b842178fe4a2c67a9d58d914324604-1646755738572" ukl:CommentaryRef="key-58b842178fe4a2c67a9d58d914324604"><noteRef uk:name="commentary" href="#key-58b842178fe4a2c67a9d58d914324604" class="commentary"/>9</del></num><content><p><mod><del ukl:ChangeId="key-58b842178fe4a2c67a9d58d914324604-1646755738572" ukl:CommentaryRef="key-58b842178fe4a2c67a9d58d914324604">In relation to a moratorium that comes into force during the relevant period, Article 13EA(1) of the Insolvency (Northern Ireland) Order 1989 has effect as if for the words from “it remains likely” to the end there were substituted</del><quotedText startQuote="“"><del ukl:ChangeId="key-58b842178fe4a2c67a9d58d914324604-1646755738572" ukl:CommentaryRef="key-58b842178fe4a2c67a9d58d914324604">—
</del></quotedText><quotedStructure endQuote="”" uk:context="unknown" uk:docName="unknown" ukl:TargetClass="unknown" ukl:TargetSubClass="unknown" ukl:Context="unknown" ukl:Format="default"><level class="para1"><num><del ukl:ChangeId="key-58b842178fe4a2c67a9d58d914324604-1646755738572" ukl:CommentaryRef="key-58b842178fe4a2c67a9d58d914324604">(a)</del></num><content><p><del ukl:ChangeId="key-58b842178fe4a2c67a9d58d914324604-1646755738572" ukl:CommentaryRef="key-58b842178fe4a2c67a9d58d914324604">it is likely that the moratorium will result in the rescue of the company as a going concern, or</del></p></content></level><level class="para1"><num><del ukl:ChangeId="key-58b842178fe4a2c67a9d58d914324604-1646755738572" ukl:CommentaryRef="key-58b842178fe4a2c67a9d58d914324604">(b)</del></num><content><p><del class="last" ukl:ChangeId="key-58b842178fe4a2c67a9d58d914324604-1646755738572" ukl:CommentaryRef="key-58b842178fe4a2c67a9d58d914324604">that, if one were to disregard any worsening of the financial position of the company for reasons relating to coronavirus, it is likely that the moratorium would result in the rescue of the company as a going concern.</del></p></content></level></quotedStructure></mod></p></content></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-8-part-2-crossheading-termination-of-moratorium-obtained-during-relevant-period"><heading><i>Termination of moratorium obtained during relevant period</i></heading><paragraph eId="schedule-8-paragraph-10" class="schProv1"><num><del class="first" ukl:ChangeId="key-58b842178fe4a2c67a9d58d914324604-1646755747050" ukl:CommentaryRef="key-58b842178fe4a2c67a9d58d914324604"><noteRef uk:name="commentary" href="#key-58b842178fe4a2c67a9d58d914324604" class="commentary"/>10</del></num><content><p><mod><del ukl:ChangeId="key-58b842178fe4a2c67a9d58d914324604-1646755747050" ukl:CommentaryRef="key-58b842178fe4a2c67a9d58d914324604">In relation to a moratorium that comes into force during the relevant period, Article 13ED(1) of the Insolvency (Northern Ireland) Order 1989 has effect as if for sub-paragraph (a) there were substituted—</del><quotedStructure startQuote="“" endQuote="”" uk:context="unknown" uk:docName="unknown" ukl:TargetClass="unknown" ukl:TargetSubClass="unknown" ukl:Context="unknown" ukl:Format="default"><level class="para1"><num><del ukl:ChangeId="key-58b842178fe4a2c67a9d58d914324604-1646755747050" ukl:CommentaryRef="key-58b842178fe4a2c67a9d58d914324604">(a)</del></num><intro><p><del ukl:ChangeId="key-58b842178fe4a2c67a9d58d914324604-1646755747050" ukl:CommentaryRef="key-58b842178fe4a2c67a9d58d914324604">the monitor thinks—</del></p></intro><level class="para2"><num><del ukl:ChangeId="key-58b842178fe4a2c67a9d58d914324604-1646755747050" ukl:CommentaryRef="key-58b842178fe4a2c67a9d58d914324604">(i)</del></num><content><p><del ukl:ChangeId="key-58b842178fe4a2c67a9d58d914324604-1646755747050" ukl:CommentaryRef="key-58b842178fe4a2c67a9d58d914324604">that the moratorium is not likely to result in the rescue of the company as a going concern, and</del></p></content></level><level class="para2"><num><del ukl:ChangeId="key-58b842178fe4a2c67a9d58d914324604-1646755747050" ukl:CommentaryRef="key-58b842178fe4a2c67a9d58d914324604">(ii)</del></num><content><p><del ukl:ChangeId="key-58b842178fe4a2c67a9d58d914324604-1646755747050" ukl:CommentaryRef="key-58b842178fe4a2c67a9d58d914324604">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,</del></p></content></level></level></quotedStructure><inline name="appendText"><del class="last" ukl:ChangeId="key-58b842178fe4a2c67a9d58d914324604-1646755747050" ukl:CommentaryRef="key-58b842178fe4a2c67a9d58d914324604">.</del></inline></mod></p></content></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-8-part-2-crossheading-coronavirus"><heading><i>
“Coronavirus”
</i></heading><paragraph eId="schedule-8-paragraph-11" class="schProv1"><num><del class="first" ukl:ChangeId="key-58b842178fe4a2c67a9d58d914324604-1646755757819" ukl:CommentaryRef="key-58b842178fe4a2c67a9d58d914324604"><noteRef uk:name="commentary" href="#key-58b842178fe4a2c67a9d58d914324604" class="commentary"/>11</del></num><content><p><del ukl:ChangeId="key-58b842178fe4a2c67a9d58d914324604-1646755757819" ukl:CommentaryRef="key-58b842178fe4a2c67a9d58d914324604">In the modifications made by this Part of this Schedule “</del><term refersTo="#term-coronavirus" eId="term-coronavirus"><del ukl:ChangeId="key-58b842178fe4a2c67a9d58d914324604-1646755757819" ukl:CommentaryRef="key-58b842178fe4a2c67a9d58d914324604">coronavirus</del></term><del class="last" ukl:ChangeId="key-58b842178fe4a2c67a9d58d914324604-1646755757819" ukl:CommentaryRef="key-58b842178fe4a2c67a9d58d914324604">” means severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2).</del></p></content></paragraph></hcontainer></part><part eId="schedule-8-part-3"><num><b>PART 3</b></num><heading>Temporary rules</heading><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-8-part-3-crossheading-introductory"><heading><i>Introductory</i></heading><paragraph eId="schedule-8-paragraph-12" class="schProv1"><num>12</num><content><p>Paragraphs 13 to 54 cease to have effect at the end of the relevant period, subject to paragraph 3.</p></content></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-8-part-3-crossheading-content-of-documents-relating-to-the-obtaining-or-extending-of-a-moratorium-general"><heading><i>Content of documents relating to the obtaining or extending of a moratorium: general</i></heading><paragraph eId="schedule-8-paragraph-13" class="schProv1"><num>13</num><intro><p>A notice or statement under Article 13BC(1), 13BE(2), 13CA(1), 13CB(1) or 13CD(2) of the Insolvency (Northern Ireland) Order 1989 must state—</p></intro><level class="para1" eId="schedule-8-paragraph-13-a"><num>(a)</num><content><p>the provision under which it is given or made,</p></content></level><level class="para1" eId="schedule-8-paragraph-13-b"><num>(b)</num><content><p>the nature of the notice or statement,</p></content></level><level class="para1" eId="schedule-8-paragraph-13-c"><num>(c)</num><content><p>the date of the notice or statement, and</p></content></level><level class="para1" eId="schedule-8-paragraph-13-d"><num>(d)</num><content><p>the identification details for the company to which it relates.</p></content></level></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-8-part-3-crossheading-authentication-of-documents-relating-to-obtaining-or-extending-moratorium-general"><heading><i>Authentication of documents relating to obtaining or extending moratorium: general</i></heading><paragraph eId="schedule-8-paragraph-14" class="schProv1"><num>14</num><subparagraph eId="schedule-8-paragraph-14-1"><num>(1)</num><content><p>A notice or statement under Article 13BC(1), 13CA(1), 13CB(1) or 13CD(2) of the Insolvency (Northern Ireland) Order 1989 must be authenticated by or on behalf of the person giving the notice or making the statement (see paragraph 49).</p></content></subparagraph><subparagraph eId="schedule-8-paragraph-14-2"><num>(2)</num><content><p>A notice under Article 13BE(2)(a) of the Insolvency (Northern Ireland) Order 1989 must be authenticated by the monitor (see paragraph 49).</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-8-part-3-crossheading-notice-that-directors-wish-to-obtain-a-moratorium"><heading><i>Notice that directors wish to obtain a moratorium</i></heading><paragraph eId="schedule-8-paragraph-15" class="schProv1"><num>15</num><content><p>A notice under Article 13BC(1)(a) of the Insolvency (Northern Ireland) Order 1989 must state the company's address for service.</p></content></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-8-part-3-crossheading-proposed-monitors-statement-and-consent-to-act"><heading><i>Proposed monitor's statement and consent to act</i></heading><paragraph eId="schedule-8-paragraph-16" class="schProv1"><num>16</num><subparagraph eId="schedule-8-paragraph-16-1"><num>(1)</num><intro><p>A statement under Article 13BC(1)(b) of the Insolvency (Northern Ireland) Order 1989 must be headed “Proposed monitor's statement and consent to act” and must contain the following—</p></intro><level class="para1" eId="schedule-8-paragraph-16-1-a"><num>(a)</num><content><p>a certificate that the proposed monitor is qualified to act as an insolvency practitioner in relation to the company,</p></content></level><level class="para1" eId="schedule-8-paragraph-16-1-b"><num>(b)</num><content><p>the proposed monitor's IP number,</p></content></level><level class="para1" eId="schedule-8-paragraph-16-1-c"><num>(c)</num><content><p>the name of the relevant recognised professional body which is the source of the proposed monitor's authorisation to act in relation to the company, and</p></content></level><level class="para1" eId="schedule-8-paragraph-16-1-d"><num>(d)</num><content><p>a statement that the proposed monitor consents to act as monitor in relation to the company.</p></content></level></subparagraph><subparagraph eId="schedule-8-paragraph-16-2"><num>(2)</num><content><p>In this paragraph “<term refersTo="#term-ip-number" eId="term-ip-number">IP number</term>” means the identifying number or reference issued to the insolvency practitioner by a professional body recognised under Article 350 of the Insolvency (Northern Ireland) Order 1989.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-8-part-3-crossheading-timing-of-statements-for-obtaining-moratorium"><heading><i>Timing of statements for obtaining moratorium</i></heading><paragraph eId="schedule-8-paragraph-17" class="schProv1"><num>17</num><content><p>Each statement under Article 13BC(1)(b) to (e) of the Insolvency (Northern Ireland) Order 1989 must be made within the period of 5 days ending with the day on which the documents under Article 13BC(1)(a) to (e) are filed with the High Court (or, if the documents are filed on different days, the last of those days).</p></content></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-8-part-3-crossheading-notice-by-monitor-where-moratorium-comes-into-force"><heading><i>Notice by monitor where moratorium comes into force</i></heading><paragraph eId="schedule-8-paragraph-18" class="schProv1"><num>18</num><intro><p>A notice under Article 13BE(2) of the Insolvency (Northern Ireland) Order 1989 must—</p></intro><level class="para1" eId="schedule-8-paragraph-18-a"><num>(a)</num><content><p>state that it is given by the monitor acting in that capacity, and</p></content></level><level class="para1" eId="schedule-8-paragraph-18-b"><num>(b)</num><content><p>state the name and contact details of the monitor.</p></content></level></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-8-part-3-crossheading-notice-that-directors-wish-to-extend-a-moratorium"><heading><i>Notice that directors wish to extend a moratorium</i></heading><paragraph eId="schedule-8-paragraph-19" class="schProv1"><num>19</num><content><p>A notice under Article 13CA(1)(a) or 13CB(1)(a) of the Insolvency (Northern Ireland) Order 1989 must state the company's address for service.</p></content></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-8-part-3-crossheading-extension-under-article-13ca-or-13cb-of-the-insolvency-northern-ireland-order-1989-notices-and-statements"><heading><i>Extension under Article 13CA or 13CB of the Insolvency (Northern Ireland) Order 1989: notices and statements</i></heading><paragraph eId="schedule-8-paragraph-20" class="schProv1"><num>20</num><content><p>A statement by the monitor under Article 13CA(1)(d) or 13CB(1)(d) of the Insolvency (Northern Ireland) Order 1989 must contain contact details of the monitor.</p></content></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-8-part-3-crossheading-timing-of-statements-for-extension-under-article-13ca-or-13cb"><heading><i>Timing of statements for extension under Article 13CA or 13CB</i></heading><paragraph eId="schedule-8-paragraph-21" class="schProv1"><num>21</num><content><p>Each statement under Article 13CA(1)(b) to (d) or 13CB(1)(b) to (e) of the Insolvency (Northern Ireland) Order 1989 must be made within the period of 3 days ending with the day on which the documents under Article 13CA(1)(a) to (d) or 13CB(1)(a) to (e) are filed with the High Court (or, if the documents are filed on different days, the last of those days).</p></content></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-8-part-3-crossheading-obtaining-creditor-consent-at-meeting"><heading><i>Obtaining creditor consent at meeting</i></heading><paragraph eId="schedule-8-paragraph-22" class="schProv1"><num>22</num><content><p>If a meeting under Article 13CC(2) of the Insolvency (Northern Ireland) Order 1989 is held during the relevant period (within the meaning given by paragraph 1), paragraph 3 of Schedule 14 applies to the meeting as if it were a meeting within sub-paragraph (2) of that paragraph (even if the meeting is not held within the relevant period within the meaning of that Schedule).</p></content></paragraph><paragraph eId="schedule-8-paragraph-23" class="schProv1"><num>23</num><subparagraph eId="schedule-8-paragraph-23-1"><num>(1)</num><content><p>In their application for the purposes of a decision by pre-moratorium creditors to consent to a revised end date for a moratorium under Article 13CC of the Insolvency (Northern Ireland) Order 1989, the Insolvency Rules have effect with the following modifications.</p></content></subparagraph><subparagraph eId="schedule-8-paragraph-23-2"><num>(2)</num><content><p>References to creditors are to be read as references to the pre-moratorium creditors.</p></content></subparagraph><subparagraph eId="schedule-8-paragraph-23-3"><num>(3)</num><intro><p>The following rules have effect with the further modifications set out in paragraphs 24 to 30—</p></intro><level class="para1" eId="schedule-8-paragraph-23-3-a"><num>(a)</num><content><p>Rule 4.061;</p></content></level><level class="para1" eId="schedule-8-paragraph-23-3-b"><num>(b)</num><content><p>Rule 4.062;</p></content></level><level class="para1" eId="schedule-8-paragraph-23-3-c"><num>(c)</num><content><p>Rule 4.065;</p></content></level><level class="para1" eId="schedule-8-paragraph-23-3-d"><num>(d)</num><content><p>Rule 4.068;</p></content></level><level class="para1" eId="schedule-8-paragraph-23-3-e"><num>(e)</num><content><p>Rule 4.070;</p></content></level><level class="para1" eId="schedule-8-paragraph-23-3-f"><num>(f)</num><content><p>Rule 4.073;</p></content></level><level class="para1" eId="schedule-8-paragraph-23-3-g"><num>(g)</num><content><p>Rule 4.077.</p></content></level></subparagraph></paragraph><paragraph eId="schedule-8-paragraph-24" class="schProv1"><num>24</num><content><p><mod>Rule 4.061 has effect as if for paragraphs (1) to (6) there were substituted—<quotedStructure startQuote="“" endQuote="”" uk:context="unknown" uk:docName="unknown" ukl:TargetClass="unknown" ukl:TargetSubClass="unknown" ukl:Context="unknown" ukl:Format="default"><subsection><num>(1)</num><content><p>For the purposes of Rules 4.061 to 4.077 the directors summoning a meeting of pre-moratorium creditors under Article 13CC of the Order are referred to (collectively) as “the convener”.</p></content></subsection><subsection><num>(2)</num><content><p>When a venue for such a meeting has been fixed, notice of it must be given by the convener to every pre-moratorium creditor who is known to the convener.</p></content></subsection><subsection><num>(3)</num><content><p>Notice of the meeting must be given at least 5 days before the date fixed for it, and must specify the purpose of the meeting.</p></content></subsection><subsection><num>(4)</num><content><p>The notice shall state that proofs and (if applicable) proxies shall be lodged at a specified place not later than 12.00 hours on the business day before the date fixed for the meeting in order for pre-moratorium creditors to be entitled to vote at the meeting.</p></content></subsection></quotedStructure></mod></p></content></paragraph><paragraph eId="schedule-8-paragraph-25" class="schProv1"><num>25</num><content><p><mod>Rule 4.062 has effect as if for paragraphs (2) to (5) there were substituted—<quotedStructure startQuote="“" endQuote="”" uk:context="unknown" uk:docName="unknown" ukl:TargetClass="unknown" ukl:TargetSubClass="unknown" ukl:Context="unknown" ukl:Format="default"><subsection><num>(2)</num><content><p>The convener must nominate a person to act as chairman.</p></content></subsection></quotedStructure></mod></p></content></paragraph><paragraph eId="schedule-8-paragraph-26" class="schProv1"><num>26</num><content><p><mod>Rule 4.065 has effect as if, in paragraph (2), for “21 days” there were substituted <quotedText>“
5 days
”</quotedText>.</mod></p></content></paragraph><paragraph eId="schedule-8-paragraph-27" class="schProv1"><num>27</num><content><p><mod>Rule 4.068 has effect as if for it there were substituted—<quotedStructure startQuote="“" endQuote="”" uk:context="unknown" uk:docName="unknown" ukl:TargetClass="unknown" ukl:TargetSubClass="unknown" ukl:Context="unknown" ukl:Format="default"><section><num>4.068.</num><content><p>The expenses of summoning and holding a meeting of pre-moratorium creditors at the instance of the directors of the company are to be paid by the company.</p></content></section></quotedStructure></mod></p></content></paragraph><paragraph eId="schedule-8-paragraph-28" class="schProv1"><num>28</num><content><p><mod>Rule 4.070 has effect as if for it (and its heading) there were substituted—<quotedStructure startQuote="“" endQuote="”" uk:context="unknown" uk:docName="unknown" ukl:TargetClass="unknown" ukl:TargetSubClass="unknown" ukl:Context="unknown" ukl:Format="default"><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Requisite majorities</i></heading><section><num>4.070.</num><subsection><num>(1)</num><intro><p>A decision to consent to a revised end date for a moratorium under Article 13CC of the Order is made if, of those voting—</p></intro><level class="para1"><num>(a)</num><content><p>a majority (in value) of the pre-moratorium creditors who are secured creditors vote in favour of the proposed decision, and</p></content></level><level class="para1"><num>(b)</num><content><p>a majority (in value) of the pre-moratorium creditors who are unsecured creditors vote in favour of the proposed decision.</p></content></level></subsection><subsection><num>(2)</num><intro><p>But a decision to consent to a revised end date for a moratorium under Article 13CC of the Order is not made if, of those voting, either—</p></intro><level class="para1"><num>(a)</num><content><p>a majority of the pre-moratorium creditors who are unconnected secured creditors vote against the proposed end date, or</p></content></level><level class="para1"><num>(b)</num><content><p>a majority of the pre-moratorium creditors who are unconnected unsecured creditors vote against the proposed end date.</p></content></level></subsection><subsection><num>(3)</num><intro><p>For the purposes of paragraph (2)—</p></intro><level class="para1"><num>(a)</num><content><p>a creditor is unconnected unless the convener or chair decides that the creditor is connected, and</p></content></level><level class="para1"><num>(b)</num><content><p>the total value of the unconnected creditors is the total value of those unconnected creditors whose claims have been admitted for voting.</p></content></level></subsection></section></hcontainer></quotedStructure></mod></p></content></paragraph><paragraph eId="schedule-8-paragraph-29" class="schProv1"><num>29</num><intro><p>Rule 4.073 has effect as if—</p></intro><level class="para1" eId="schedule-8-paragraph-29-a"><num>(a)</num><content><p><mod>after paragraph (3) there were inserted—<quotedStructure startQuote="“" endQuote="”" uk:context="unknown" uk:docName="unknown" ukl:TargetClass="unknown" ukl:TargetSubClass="unknown" ukl:Context="unknown" ukl:Format="default"><subsection><num>(3A)</num><content><p>Votes are calculated according to the amount of each pre-moratorium creditor's claim at the date of the meeting.</p></content></subsection></quotedStructure><inline name="appendText">;</inline></mod></p></content></level><level class="para1" eId="schedule-8-paragraph-29-b"><num>(b)</num><content><p><mod>for paragraph (4) there were substituted—<quotedStructure startQuote="“" endQuote="”" uk:context="unknown" uk:docName="unknown" ukl:TargetClass="unknown" ukl:TargetSubClass="unknown" ukl:Context="unknown" ukl:Format="default"><subsection><num>(4)</num><content><p>A debt of an unliquidated or unascertained amount is to be valued at £1 for the purposes of voting unless the convener or the chairman decides to put a higher value on it.</p></content></subsection></quotedStructure><inline name="appendText">;</inline></mod></p></content></level><level class="para1" eId="schedule-8-paragraph-29-c"><num>(c)</num><content><p><mod>for paragraph (5) there were substituted—<quotedStructure startQuote="“" endQuote="”" uk:context="unknown" uk:docName="unknown" ukl:TargetClass="unknown" ukl:TargetSubClass="unknown" ukl:Context="unknown" ukl:Format="default"><subsection><num>(5)</num><content><p>If a debt is partly or wholly secured the value of the debt for voting purposes is its full value without deduction of the value of the security.</p></content></subsection></quotedStructure><inline name="appendText">;</inline></mod></p></content></level><level class="para1" eId="schedule-8-paragraph-29-d"><num>(d)</num><content><p><mod>for paragraph (6) there were substituted—<quotedStructure startQuote="“" endQuote="”" uk:context="unknown" uk:docName="unknown" ukl:TargetClass="unknown" ukl:TargetSubClass="unknown" ukl:Context="unknown" ukl:Format="default"><subsection><num>(6)</num><content><p>A pre-moratorium creditor under a hire-purchase agreement is entitled to vote in respect of the amount of the debt due and payable by the company at the date of the meeting.</p></content></subsection><subsection><num>(6A)</num><content><p>In calculating the amount of any debt for the purpose of paragraph (6), no account is to be taken of any amount attributable to the exercise of any right under the relevant agreement so far as the right has become exercisable solely by virtue of a moratorium for the company coming into force.</p></content></subsection></quotedStructure></mod></p></content></level></paragraph><paragraph eId="schedule-8-paragraph-30" class="schProv1"><num>30</num><intro><p>Rule 4.077 has effect as if—</p></intro><level class="para1" eId="schedule-8-paragraph-30-a"><num>(a)</num><content><p><mod>in paragraph (1) for “liquidation” there were substituted <quotedText>“
moratorium
”</quotedText>;</mod></p></content></level><level class="para1" eId="schedule-8-paragraph-30-b"><num>(b)</num><content><p>paragraph (4) were omitted.</p></content></level></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-8-part-3-crossheading-content-of-application-to-the-high-court-for-extension-of-moratorium"><heading><i>Content of application to the High Court for extension of moratorium</i></heading><paragraph eId="schedule-8-paragraph-31" class="schProv1"><num>31</num><subparagraph eId="schedule-8-paragraph-31-1"><num>(1)</num><intro><p>An application by the directors of a company for the extension of a moratorium under Article 13CD of the Insolvency (Northern Ireland) Order 1989 must state—</p></intro><level class="para1" eId="schedule-8-paragraph-31-1-a"><num>(a)</num><content><p>that it is made under that Article,</p></content></level><level class="para1" eId="schedule-8-paragraph-31-1-b"><num>(b)</num><content><p>the length of the extension sought,</p></content></level><level class="para1" eId="schedule-8-paragraph-31-1-c"><num>(c)</num><content><p>identification details for the company to which the application relates, and</p></content></level><level class="para1" eId="schedule-8-paragraph-31-1-d"><num>(d)</num><content><p>the company's address for service.</p></content></level></subparagraph><subparagraph eId="schedule-8-paragraph-31-2"><num>(2)</num><content><p>The application must be authenticated by or on behalf of the directors (see paragraph 49).</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-8-part-3-crossheading-timing-of-statements-accompanying-application-to-high-court-for-extension-of-moratorium"><heading><i>Timing of statements accompanying application to High Court for extension of moratorium</i></heading><paragraph eId="schedule-8-paragraph-32" class="schProv1"><num>32</num><content><p>A statement under Article 13CD(2) must be made within the period of 3 days ending with the day on which the application under that Article is made.</p></content></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-8-part-3-crossheading-notices-about-change-in-end-of-moratorium"><heading><i>Notices about change in end of moratorium</i></heading><paragraph eId="schedule-8-paragraph-33" class="schProv1"><num>33</num><subparagraph eId="schedule-8-paragraph-33-1"><num>(1)</num><content><p>A notice under Article 13CH(1) of the Insolvency (Northern Ireland) Order 1989 must be given within the period of 5 days beginning with the day on which the duty to give the notice arises.</p></content></subparagraph><subparagraph eId="schedule-8-paragraph-33-2"><num>(2)</num><intro><p>The notice must state—</p></intro><level class="para1" eId="schedule-8-paragraph-33-2-a"><num>(a)</num><content><p>the name of the company to which it relates, and</p></content></level><level class="para1" eId="schedule-8-paragraph-33-2-b"><num>(b)</num><content><p>the provision by virtue of which the moratorium was extended or came to an end.</p></content></level></subparagraph></paragraph><paragraph eId="schedule-8-paragraph-34" class="schProv1"><num>34</num><subparagraph eId="schedule-8-paragraph-34-1"><num>(1)</num><content><p>A notice under Article 13CH(2) or (3) of the Insolvency (Northern Ireland) Order 1989 must be given within the period of 5 days beginning with the day on which the duty to give the notice arises.</p></content></subparagraph><subparagraph eId="schedule-8-paragraph-34-2"><num>(2)</num><intro><p>The notice must state—</p></intro><level class="para1" eId="schedule-8-paragraph-34-2-a"><num>(a)</num><content><p>the provision under which it is given,</p></content></level><level class="para1" eId="schedule-8-paragraph-34-2-b"><num>(b)</num><content><p>the nature of the notice,</p></content></level><level class="para1" eId="schedule-8-paragraph-34-2-c"><num>(c)</num><content><p>the date of the notice,</p></content></level><level class="para1" eId="schedule-8-paragraph-34-2-d"><num>(d)</num><content><p>that it is given by the monitor acting in that capacity,</p></content></level><level class="para1" eId="schedule-8-paragraph-34-2-e"><num>(e)</num><content><p>the name and contact details of the monitor, and</p></content></level><level class="para1" eId="schedule-8-paragraph-34-2-f"><num>(f)</num><content><p>the identification details for the company to which it relates.</p></content></level></subparagraph><subparagraph eId="schedule-8-paragraph-34-3"><num>(3)</num><content><p>A notice under Article 13CH(2) or (3) of the Insolvency (Northern Ireland) Order 1989 that is given to the registrar must be authenticated by or on behalf of the monitor (see paragraph 49).</p></content></subparagraph></paragraph><paragraph eId="schedule-8-paragraph-35" class="schProv1"><num>35</num><intro><p>Where a moratorium comes to an end under Article 13CG of the Insolvency (Northern Ireland) Order 1989 because the company has entered into a relevant insolvency procedure within the meaning of that Article, the notices under Article 13CH(1) and (2) must state—</p></intro><level class="para1" eId="schedule-8-paragraph-35-a"><num>(a)</num><content><p>the date on which the company entered into the relevant insolvency procedure, and</p></content></level><level class="para1" eId="schedule-8-paragraph-35-b"><num>(b)</num><content><p>the name and contact details of the supervisor of the voluntary arrangement, the administrator or the liquidator.</p></content></level></paragraph><paragraph eId="schedule-8-paragraph-36" class="schProv1"><num>36</num><subparagraph eId="schedule-8-paragraph-36-1"><num>(1)</num><content><p>A notice under Article 13CH(4) of the Insolvency (Northern Ireland) Order 1989 must be given within the period of 3 business days beginning with the day on which the notice under Article 13ED(1) of that Order is filed with the High Court.</p></content></subparagraph><subparagraph eId="schedule-8-paragraph-36-2"><num>(2)</num><content><p>The notice under Article 13CH(4) of that Order must be accompanied by the notice that the monitor has filed with the High Court under Article 13ED(1) of that Order.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-8-part-3-crossheading-notification-by-directors-of-insolvency-proceedings-etc"><heading><i>Notification by directors of insolvency proceedings etc</i></heading><paragraph eId="schedule-8-paragraph-37" class="schProv1"><num>37</num><subparagraph eId="schedule-8-paragraph-37-1"><num>(1)</num><content><p>A notice under Article 13DF(1) of the Insolvency (Northern Ireland) Order 1989 must be given before the period of 3 days ending with the day on which the step mentioned there is taken.</p></content></subparagraph><subparagraph eId="schedule-8-paragraph-37-2"><num>(2)</num><content><p>A notice under Article 13DF(2) of the Insolvency (Northern Ireland) Order 1989 must be given within the period of 3 days beginning with the day on which the duty to give the notice arises.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-8-part-3-crossheading-notice-of-termination-of-moratorium"><heading><i>Notice of termination of moratorium</i></heading><paragraph eId="schedule-8-paragraph-38" class="schProv1"><num>38</num><subparagraph eId="schedule-8-paragraph-38-1"><num>(1)</num><content><p>A notice under Article 13ED(1) of the Insolvency (Northern Ireland) Order 1989 must be filed with the High Court as soon as practicable after the duty in that paragraph arises.</p></content></subparagraph><subparagraph eId="schedule-8-paragraph-38-2"><num>(2)</num><intro><p>The notice must state—</p></intro><level class="para1" eId="schedule-8-paragraph-38-2-a"><num>(a)</num><content><p>the provision under which it is given,</p></content></level><level class="para1" eId="schedule-8-paragraph-38-2-b"><num>(b)</num><content><p>the nature of the notice,</p></content></level><level class="para1" eId="schedule-8-paragraph-38-2-c"><num>(c)</num><content><p>the date of the notice,</p></content></level><level class="para1" eId="schedule-8-paragraph-38-2-d"><num>(d)</num><content><p>the name and contact details of the monitor,</p></content></level><level class="para1" eId="schedule-8-paragraph-38-2-e"><num>(e)</num><content><p>the identification details for the company to which it relates,</p></content></level><level class="para1" eId="schedule-8-paragraph-38-2-f"><num>(f)</num><content><p>the grounds on which the moratorium is being terminated,</p></content></level><level class="para1" eId="schedule-8-paragraph-38-2-g"><num>(g)</num><content><p>the monitor's reasons for concluding that those grounds are made out, and</p></content></level><level class="para1" eId="schedule-8-paragraph-38-2-h"><num>(h)</num><content><p>the date on which the monitor concluded that those grounds were made out.</p></content></level></subparagraph><subparagraph eId="schedule-8-paragraph-38-3"><num>(3)</num><content><p>The notice must be authenticated by or on behalf of the monitor (see paragraph 49).</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-8-part-3-crossheading-termination-of-moratorium-under-article-13ed1d-of-the-insolvency-northern-ireland-order-1989"><heading><i>Termination of moratorium under Article 13ED(1)(d) of the Insolvency (Northern Ireland) Order 1989</i></heading><paragraph eId="schedule-8-paragraph-39" class="schProv1"><num>39</num><intro><p>For the purposes of deciding whether to bring a moratorium to an end under Article 13ED(1)(d) of the Insolvency (Northern Ireland) Order 1989 the monitor must disregard—</p></intro><level class="para1" eId="schedule-8-paragraph-39-a"><num>(a)</num><content><p>any debts that the monitor has reasonable grounds for thinking are likely to be paid within 5 days of the decision, and</p></content></level><level class="para1" eId="schedule-8-paragraph-39-b"><num>(b)</num><content><p>any debts in respect of which the creditor has agreed to defer payment until a time that is later than the decision.</p></content></level></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-8-part-3-crossheading-replacement-of-monitor-or-additional-monitor-statement-and-consent-to-act"><heading><i>Replacement of monitor or additional monitor: statement and consent to act</i></heading><paragraph eId="schedule-8-paragraph-40" class="schProv1"><num>40</num><subparagraph eId="schedule-8-paragraph-40-1"><num>(1)</num><intro><p>A statement under Article 13EE(4) of the Insolvency (Northern Ireland) Order 1989 must be headed “Proposed monitor's statement and consent to act” and must contain the following—</p></intro><level class="para1" eId="schedule-8-paragraph-40-1-a"><num>(a)</num><content><p>a certificate that the proposed monitor is qualified to act as an insolvency practitioner in relation to the company,</p></content></level><level class="para1" eId="schedule-8-paragraph-40-1-b"><num>(b)</num><content><p>the proposed monitor's IP number,</p></content></level><level class="para1" eId="schedule-8-paragraph-40-1-c"><num>(c)</num><content><p>the name of the relevant recognised professional body which is the source of the proposed monitor's authorisation to act in relation to the company, and</p></content></level><level class="para1" eId="schedule-8-paragraph-40-1-d"><num>(d)</num><content><p>a statement that the proposed monitor consents to act as monitor in relation to the company.</p></content></level></subparagraph><subparagraph eId="schedule-8-paragraph-40-2"><num>(2)</num><content><p>The statement must be made within the period of 5 days ending with the day on which it is filed with the High Court.</p></content></subparagraph><subparagraph eId="schedule-8-paragraph-40-3"><num>(3)</num><content><p>In this paragraph “<term refersTo="#term-ip-number" eId="term-ip-number">IP number</term>” means the identifying number or reference issued to the insolvency practitioner by a professional body recognised under Article 350 of the Insolvency (Northern Ireland) Order 1989.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-8-part-3-crossheading-replacement-of-monitor-or-additional-monitor-notification"><heading><i>Replacement of monitor or additional monitor: notification</i></heading><paragraph eId="schedule-8-paragraph-41" class="schProv1"><num>41</num><subparagraph eId="schedule-8-paragraph-41-1"><num>(1)</num><intro><p>A notice under Article 13EE(8) of the Insolvency (Northern Ireland) Order 1989 must state—</p></intro><level class="para1" eId="schedule-8-paragraph-41-1-a"><num>(a)</num><content><p>the provision under which it is given,</p></content></level><level class="para1" eId="schedule-8-paragraph-41-1-b"><num>(b)</num><content><p>the nature of the notice,</p></content></level><level class="para1" eId="schedule-8-paragraph-41-1-c"><num>(c)</num><content><p>the date of the notice,</p></content></level><level class="para1" eId="schedule-8-paragraph-41-1-d"><num>(d)</num><content><p>the identification details for the company to which it relates,</p></content></level><level class="para1" eId="schedule-8-paragraph-41-1-e"><num>(e)</num><content><p>that it is given by the monitor acting in that capacity, and</p></content></level><level class="para1" eId="schedule-8-paragraph-41-1-f"><num>(f)</num><content><p>the name and contact details of the monitor.</p></content></level></subparagraph><subparagraph eId="schedule-8-paragraph-41-2"><num>(2)</num><content><p>The notice must be authenticated by the monitor (see paragraph 49).</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-8-part-3-crossheading-challenge-to-monitors-remuneration"><heading><i>Challenge to monitor's remuneration</i></heading><paragraph eId="schedule-8-paragraph-42" class="schProv1"><num>42</num><subparagraph eId="schedule-8-paragraph-42-1"><num>(1)</num><content><p>An administrator or liquidator of a company may apply to the High Court on the ground that remuneration charged by the monitor in relation to a prior moratorium for the company under Part 1A of the Insolvency (Northern Ireland) Order 1989 was excessive.</p></content></subparagraph><subparagraph eId="schedule-8-paragraph-42-2"><num>(2)</num><content><p>An application under this paragraph may not be made after the end of the period of 2 years beginning with the day after the moratorium ends.</p></content></subparagraph><subparagraph eId="schedule-8-paragraph-42-3"><num>(3)</num><intro><p>On an application under this paragraph the Court may—</p></intro><level class="para1" eId="schedule-8-paragraph-42-3-a"><num>(a)</num><content><p>dismiss the application,</p></content></level><level class="para1" eId="schedule-8-paragraph-42-3-b"><num>(b)</num><content><p>order the monitor to repay some or all of the remuneration, or</p></content></level><level class="para1" eId="schedule-8-paragraph-42-3-c"><num>(c)</num><content><p>make such other order as it thinks fit.</p></content></level></subparagraph><subparagraph eId="schedule-8-paragraph-42-4"><num>(4)</num><content><p>The costs of an application under this paragraph are, unless the Court orders otherwise, to be paid as an expense of the administration or liquidation.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-8-part-3-crossheading-challenge-to-directors-actions-meeting"><heading><i>Challenge to directors' actions: meeting</i></heading><paragraph eId="schedule-8-paragraph-43" class="schProv1"><num>43</num><intro><p>Where the High Court makes an order by virtue of Article 13FB(4)(c) of the Insolvency (Northern Ireland) Order 1989 requiring the summoning of a meeting of a company's creditors, the following provisions of the Insolvency Rules apply for the purposes of that meeting to the extent set out in the Court's order and subject to any modifications set out in the Court's order—</p></intro><level class="para1" eId="schedule-8-paragraph-43-a"><num>(a)</num><content><p>Rules 4.061 to 4.077 (meetings);</p></content></level><level class="para1" eId="schedule-8-paragraph-43-b"><num>(b)</num><content><p>Part 8 (proxies);</p></content></level><level class="para1" eId="schedule-8-paragraph-43-c"><num>(c)</num><content><p>Rule 12.05 (quorum).</p></content></level></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-8-part-3-crossheading-priority-of-moratorium-debts-etc-in-subsequent-winding-up"><heading><i>Priority of moratorium debts etc in subsequent winding up</i></heading><paragraph eId="schedule-8-paragraph-44" class="schProv1"><num>44</num><subparagraph eId="schedule-8-paragraph-44-1"><num>(1)</num><intro><p>Where Article 148A of the Insolvency (Northern Ireland) Order 1989 applies, the moratorium debts and pre-moratorium debts mentioned in paragraph (2)(b) of that Article are payable in the following order of priority—</p></intro><level class="para1" eId="schedule-8-paragraph-44-1-a"><num>(a)</num><content><p>amounts payable in respect of goods or services supplied during the moratorium under a contract where, but for Article 197B(3) or (4) of that Order, the supplier would not have had to make that supply;</p></content></level><level class="para1" eId="schedule-8-paragraph-44-1-b"><num>(b)</num><content><p>wages or salary arising under a contract of employment;</p></content></level><level class="para1" eId="schedule-8-paragraph-44-1-c"><num>(c)</num><content><p>other debts or other liabilities apart from the monitor's remuneration or expenses;</p></content></level><level class="para1" eId="schedule-8-paragraph-44-1-d"><num>(d)</num><content><p>the monitor's remuneration or expenses.</p></content></level></subparagraph><subparagraph eId="schedule-8-paragraph-44-2"><num>(2)</num><content><p>In this paragraph “<term refersTo="#term-wages-or-salary" eId="term-wages-or-salary">wages or salary</term>” has the same meaning as in Article 13D of the Insolvency (Northern Ireland) Order 1989.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-8-part-3-crossheading-priority-of-moratorium-debts-etc-in-subsequent-administration"><heading><i>Priority of moratorium debts etc in subsequent administration</i></heading><paragraph eId="schedule-8-paragraph-45" class="schProv1"><num>45</num><subparagraph eId="schedule-8-paragraph-45-1"><num>(1)</num><intro><p>Where paragraph 65A(1) of Schedule B1 to the Insolvency (Northern Ireland) Order 1989 applies, the moratorium debts and pre-moratorium debts mentioned in paragraph 65A(2) of that Schedule are payable in the following order of priority—</p></intro><level class="para1" eId="schedule-8-paragraph-45-1-a"><num>(a)</num><content><p>amounts payable in respect of goods or services supplied during the moratorium under a contract where, but for Article 197B(3) or (4) of that Order, the supplier would not have had to make that supply;</p></content></level><level class="para1" eId="schedule-8-paragraph-45-1-b"><num>(b)</num><content><p>wages or salary arising under a contract of employment;</p></content></level><level class="para1" eId="schedule-8-paragraph-45-1-c"><num>(c)</num><content><p>other debts or other liabilities apart from the monitor's remuneration or expenses;</p></content></level><level class="para1" eId="schedule-8-paragraph-45-1-d"><num>(d)</num><content><p>the monitor's remuneration or expenses.</p></content></level></subparagraph><subparagraph eId="schedule-8-paragraph-45-2"><num>(2)</num><content><p>In this paragraph “<term refersTo="#term-wages-or-salary" eId="term-wages-or-salary">wages or salary</term>” has the same meaning as in Article 13D of the Insolvency (Northern Ireland) Order 1989.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-8-part-3-crossheading-prescribed-format-of-documents"><heading><i>Prescribed format of documents</i></heading><paragraph eId="schedule-8-paragraph-46" class="schProv1"><num>46</num><subparagraph eId="schedule-8-paragraph-46-1"><num>(1)</num><content><p>Rule 12.04 of the Insolvency Rules applies to applications and statements referred to in Part 1A of the Insolvency (Northern Ireland) Order 1989 as it applies to notices under that Order.</p></content></subparagraph><subparagraph eId="schedule-8-paragraph-46-2"><num>(2)</num><content><p>The requirement in Rule 12.04 that a notice, application or statement required or authorised by or under the Order or the Insolvency Rules must be in writing is satisfied if the notice, application or statement is in electronic form.</p></content></subparagraph><subparagraph eId="schedule-8-paragraph-46-3"><num>(3)</num><content><p>But sub-paragraph (2) does not apply in relation to the filing of a notice, application or statement with the High Court.</p></content></subparagraph><subparagraph eId="schedule-8-paragraph-46-4"><num>(4)</num><intro><p>A document in electronic form must be capable of being—</p></intro><level class="para1" eId="schedule-8-paragraph-46-4-a"><num>(a)</num><content><p>read by the recipient in electronic form, and</p></content></level><level class="para1" eId="schedule-8-paragraph-46-4-b"><num>(b)</num><content><p>reproduced by the recipient in hard-copy form.</p></content></level></subparagraph></paragraph><paragraph eId="schedule-8-paragraph-47" class="schProv1"><num>47</num><subparagraph eId="schedule-8-paragraph-47-1"><num>(1)</num><content><p>This paragraph applies where a provision of this Part of this Schedule sets out requirements as to the contents of a document.</p></content></subparagraph><subparagraph eId="schedule-8-paragraph-47-2"><num>(2)</num><content><p>Any title required by the provision must appear at the beginning of the document.</p></content></subparagraph><subparagraph eId="schedule-8-paragraph-47-3"><num>(3)</num><content><p>Any other contents required by the provision (or provisions where more than one applies to a particular document) must be provided in the order listed in the provision (or provisions) or in another order which the maker of the document considers would be convenient for the intended recipient.</p></content></subparagraph></paragraph><paragraph eId="schedule-8-paragraph-48" class="schProv1"><num>48</num><intro><p>Where a provision of this Part of this Schedule sets out the required contents of a document, the document may depart from the required contents if—</p></intro><level class="para1" eId="schedule-8-paragraph-48-a"><num>(a)</num><content><p>the circumstances require such a departure (including where the requirement is not applicable in the particular case), or</p></content></level><level class="para1" eId="schedule-8-paragraph-48-b"><num>(b)</num><content><p>the departure (whether or not intentional) is immaterial.</p></content></level></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-8-part-3-crossheading-authentication-of-applications-notices-and-statements"><heading><i>Authentication of applications, notices and statements</i></heading><paragraph eId="schedule-8-paragraph-49" class="schProv1"><num>49</num><subparagraph eId="schedule-8-paragraph-49-1"><num>(1)</num><content><p>This paragraph sets out how an application, notice or statement is to be authenticated for the purposes of this Part of this Schedule.</p></content></subparagraph><subparagraph eId="schedule-8-paragraph-49-2"><num>(2)</num><intro><p>An application, notice or statement in electronic form is authenticated—</p></intro><level class="para1" eId="schedule-8-paragraph-49-2-a"><num>(a)</num><content><p>if the identity of the sender is confirmed in a manner specified by the recipient, or</p></content></level><level class="para1" eId="schedule-8-paragraph-49-2-b"><num>(b)</num><content><p>where the recipient has not so specified, if the communication contains or is accompanied by a statement of the identity of the sender and the recipient has no reason to doubt the truth of that statement.</p></content></level></subparagraph><subparagraph eId="schedule-8-paragraph-49-3"><num>(3)</num><content><p>An application, notice or statement in hard-copy form is authenticated if it is signed.</p></content></subparagraph><subparagraph eId="schedule-8-paragraph-49-4"><num>(4)</num><intro><p>If an application, notice or statement is authenticated by the signature of an individual on behalf of—</p></intro><level class="para1" eId="schedule-8-paragraph-49-4-a"><num>(a)</num><content><p>a body of persons, the document must also state the position of that individual in relation to the body;</p></content></level><level class="para1" eId="schedule-8-paragraph-49-4-b"><num>(b)</num><content><p>a body corporate of which the individual is the sole member, the document must also state that fact.</p></content></level></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-8-part-3-crossheading-modifications-to-the-insolvency-rules"><heading><i>Modifications to the Insolvency Rules</i></heading><paragraph eId="schedule-8-paragraph-50" class="schProv1"><num>50</num><subparagraph eId="schedule-8-paragraph-50-1"><num>(1)</num><intro><p>For the purposes of proceedings under Part 1A of the Insolvency (Northern Ireland) Order 1989 and proceedings under this Part of this Schedule the Insolvency Rules have effect with—</p></intro><level class="para1" eId="schedule-8-paragraph-50-1-a"><num>(a)</num><content><p>the modifications set out in sub-paragraphs (3) to (13), and</p></content></level><level class="para1" eId="schedule-8-paragraph-50-1-b"><num>(b)</num><content><p>any other necessary modifications.</p></content></level></subparagraph><subparagraph eId="schedule-8-paragraph-50-2"><num>(2)</num><intro><p>Sub-paragraph (1)(b) is subject to—</p></intro><level class="para1" eId="schedule-8-paragraph-50-2-a"><num>(a)</num><content><p>paragraphs 23 to 30 and 46 of this Schedule;</p></content></level><level class="para1" eId="schedule-8-paragraph-50-2-b"><num>(b)</num><content><p>any modifications set out in an order under paragraph 43 of this Schedule.</p></content></level></subparagraph><subparagraph eId="schedule-8-paragraph-50-3"><num>(3)</num><content><p><mod>Rule 0.2 has effect as if, in the definition of “insolvency proceedings”, after “the Order” there were inserted <quotedText>“
, Part 3 of Schedule 8 to the Corporate Insolvency and Governance Act 2020
”</quotedText>.</mod></p></content></subparagraph><subparagraph eId="schedule-8-paragraph-50-4"><num>(4)</num><content><p><mod>Rule 7.01 has effect as if for “Parts II to VII of the Order” there were substituted <quotedText>“
Part 1A of the Order or Part 3 of Schedule 8 to the Corporate Insolvency and Governance Act 2020
”</quotedText>.</mod></p></content></subparagraph><subparagraph eId="schedule-8-paragraph-50-5"><num>(5)</num><content><p><mod>Rule 7.07(1)(a) has effect as if after “the Order” there were inserted <quotedText>“
or Part 3 of Schedule 8 to the Corporate Insolvency and Governance Act 2020
”</quotedText>.</mod></p></content></subparagraph><subparagraph eId="schedule-8-paragraph-50-6"><num>(6)</num><content><p>Rule 7.08 has effect in relation to a regulated company (within the meaning of Article 13H of the Insolvency (Northern Ireland) Order 1989) as if it also required the application to be served on the appropriate regulator (within the meaning of that Article).</p></content></subparagraph><subparagraph eId="schedule-8-paragraph-50-7"><num>(7)</num><content><p><mod>Rule 7.12(1)(b) has effect as if after sub-paragraph (v) there were inserted—<quotedStructure startQuote="“" endQuote="”" uk:context="unknown" uk:docName="unknown" ukl:TargetClass="unknown" ukl:TargetSubClass="unknown" ukl:Context="unknown" ukl:Format="default"><level class="para1"><num>(vi)</num><content><p>a monitor in relation to a moratorium.</p></content></level></quotedStructure></mod></p></content></subparagraph><subparagraph eId="schedule-8-paragraph-50-8"><num>(8)</num><intro><p>Rule 7.13B has effect as if—</p></intro><level class="para1" eId="schedule-8-paragraph-50-8-a"><num>(a)</num><content><p>the references to an office-holder included a monitor in relation to a moratorium, and</p></content></level><level class="para1" eId="schedule-8-paragraph-50-8-b"><num>(b)</num><content><p><mod>after paragraph (2)(d) there were inserted “, or<quotedStructure startQuote="“" endQuote="”" uk:context="unknown" uk:docName="unknown" ukl:TargetClass="unknown" ukl:TargetSubClass="unknown" ukl:Context="unknown" ukl:Format="default"><level class="para1"><num>(e)</num><content><p>monitor in relation to a moratorium.</p></content></level></quotedStructure></mod></p></content></level></subparagraph><subparagraph eId="schedule-8-paragraph-50-9"><num>(9)</num><content><p><mod>Rule 7.13C has effect as if after each of paragraph (2)(f) and (3)(f) there were inserted<quotedText startQuote="“">; and
</quotedText><quotedStructure endQuote="”" uk:context="unknown" uk:docName="unknown" ukl:TargetClass="unknown" ukl:TargetSubClass="unknown" ukl:Context="unknown" ukl:Format="default"><level class="para1"><num>(g)</num><content><p>Article 13EE (replacement of monitor or appointment of additional monitor).</p></content></level></quotedStructure></mod></p></content></subparagraph><subparagraph eId="schedule-8-paragraph-50-10"><num>(10)</num><content><p>Rule 7.36(2) has effect as if it required the applicant to serve a sealed copy of the application on the monitor and the company to which the moratorium relates.</p></content></subparagraph><subparagraph eId="schedule-8-paragraph-50-11"><num>(11)</num><content><p>Omit Rules 7.07A and 7.08A.</p></content></subparagraph><subparagraph eId="schedule-8-paragraph-50-12"><num>(12)</num><content><p>Rule 7.27 has effect as if paragraph (2)(a) included a reference to proceedings under Part 1A of the Insolvency (Northern Ireland) Order 1989 or this Part of this Schedule.</p></content></subparagraph><subparagraph eId="schedule-8-paragraph-50-13"><num>(13)</num><content><p><mod>After Rule 12.23 insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="rule" ukl:Context="main" ukl:Format="default"><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Court orders</i></heading><rule><num>12.24.</num><content><p>Notwithstanding any requirement in these Rules as to the contents of a court order the court may make such other order or in such form as the court thinks fit.</p></content></rule></hcontainer></quotedStructure></mod></p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-8-part-3-crossheading-identification-details-for-a-company"><heading><i>Identification details for a company</i></heading><paragraph eId="schedule-8-paragraph-51" class="schProv1"><num>51</num><subparagraph eId="schedule-8-paragraph-51-1"><num>(1)</num><intro><p>Where a provision of this Part of this Schedule requires a document to contain identification details for a company that is registered under the Companies Act 2006 in Northern Ireland, the following information must be given—</p></intro><level class="para1" eId="schedule-8-paragraph-51-1-a"><num>(a)</num><content><p>the company's registered name;</p></content></level><level class="para1" eId="schedule-8-paragraph-51-1-b"><num>(b)</num><content><p>its registered number.</p></content></level></subparagraph><subparagraph eId="schedule-8-paragraph-51-2"><num>(2)</num><intro><p>Where a provision of this Part of this Schedule requires a document to contain identification details for a company that has registered particulars under section 1046(1) of the Companies Act 2006 (registered overseas companies), the following information must be given—</p></intro><level class="para1" eId="schedule-8-paragraph-51-2-a"><num>(a)</num><content><p>the name registered by the company under section 1047 of that Act,</p></content></level><level class="para1" eId="schedule-8-paragraph-51-2-b"><num>(b)</num><content><p>the number under which it is registered, and</p></content></level><level class="para1" eId="schedule-8-paragraph-51-2-c"><num>(c)</num><content><p>the country or territory in which it is incorporated.</p></content></level></subparagraph><subparagraph eId="schedule-8-paragraph-51-3"><num>(3)</num><intro><p>Where a provision of this Part of this Schedule requires a document to contain identification details for an unregistered company that does not come within sub-paragraph (2) the following information must be given—</p></intro><level class="para1" eId="schedule-8-paragraph-51-3-a"><num>(a)</num><content><p>the company's name, and</p></content></level><level class="para1" eId="schedule-8-paragraph-51-3-b"><num>(b)</num><content><p>the postal address of any principal place of business.</p></content></level></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-8-part-3-crossheading-contact-details-of-a-monitor-or-other-officeholder"><heading><i>Contact details of a monitor or other office-holder</i></heading><paragraph eId="schedule-8-paragraph-52" class="schProv1"><num>52</num><intro><p>Where a provision of this Part of this Schedule requires a document to contain contact details of a monitor or other office-holder, the following information must be given—</p></intro><level class="para1" eId="schedule-8-paragraph-52-a"><num>(a)</num><content><p>a postal address for the monitor or office-holder, and</p></content></level><level class="para1" eId="schedule-8-paragraph-52-b"><num>(b)</num><content><p>either an email address, or a telephone number, through which the monitor may be contacted.</p></content></level></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-8-part-3-crossheading-the-insolvency-rules"><heading><i>
“The Insolvency Rules”
</i></heading><paragraph eId="schedule-8-paragraph-53" class="schProv1"><num>53</num><content><p>In this Part of this Schedule “<term refersTo="#term-the-insolvency-rules" eId="term-the-insolvency-rules">the Insolvency Rules</term>” means the Insolvency Rules (Northern Ireland) 1991 (S.R. (N.I.) 1991/364).</p></content></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-8-part-3-crossheading-interpretation-general"><heading><i>Interpretation: general</i></heading><paragraph eId="schedule-8-paragraph-54" class="schProv1"><num>54</num><content><p>Expressions used in this Part of this Schedule are to be construed as if this Part of this Schedule were contained in Part 1A of the Insolvency (Northern Ireland) Order 1989.</p></content></paragraph></hcontainer></part><part eId="schedule-8-part-4"><num><b>PART 4</b></num><heading>Entities other than companies</heading><paragraph eId="schedule-8-paragraph-55" class="schProv1"><num>55</num><content><p>Regulations under section 14(1) of the Limited Liability Partnership Act 2000 may make provision applying or incorporating provision made by or under this Schedule, with such modifications as appear appropriate, in relation to a limited liability partnership registered in Northern Ireland.</p></content></paragraph><paragraph eId="schedule-8-paragraph-56" class="schProv1"><num>56</num><intro><p>An order under Article 10(2) of the Insolvency (Northern Ireland) Order 2005 may provide for provision made by or under this Schedule to apply (with or without modification) in relation to—</p></intro><level class="para1" eId="schedule-8-paragraph-56-a"><num>(a)</num><content><p>a registered society within the meaning of the Co-operative and Community Benefit Societies Act (Northern Ireland) 1969, or</p></content></level><level class="para1" eId="schedule-8-paragraph-56-b"><num>(b)</num><content><p>a credit union within the meaning of the Credit Unions (Northern Ireland) Order 1985.</p></content></level></paragraph></part></hcontainer><hcontainer name="schedule" eId="schedule-9"><num>SCHEDULE 9<authorialNote class="referenceNote"><p>
Section 7</p></authorialNote></num><heading>Arrangements and reconstructions for companies in financial difficulty</heading><part eId="schedule-9-part-1"><num><b>PART 1</b></num><heading>Main provisions</heading><paragraph eId="schedule-9-paragraph-1" class="schProv1"><num>1</num><content><p><mod>In the Companies Act 2006, after Part 26 insert—<quotedStructure startQuote="“" endQuote="”" uk:context="unknown" uk:docName="unknown" ukl:TargetClass="unknown" ukl:TargetSubClass="unknown" ukl:Context="unknown" ukl:Format="default"><part><num><b>PART 26A</b></num><heading>Arrangements and reconstructions: companies in financial difficulty</heading><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Application of this Part</i></heading><section><num>901A</num><heading>Application of this Part</heading><subsection><num>(1)</num><content><p>The provisions of this Part apply where conditions A and B are met in relation to a company.</p></content></subsection><subsection><num>(2)</num><content><p>Condition A is that the company has encountered, or is likely to encounter, financial difficulties that are affecting, or will or may affect, its ability to carry on business as a going concern.</p></content></subsection><subsection><num>(3)</num><intro><p>Condition B is that—</p></intro><level class="para1"><num>(a)</num><intro><p>a compromise or arrangement is proposed between the company and—</p></intro><level class="para2"><num>(i)</num><content><p>its creditors, or any class of them, or</p></content></level><level class="para2"><num>(ii)</num><content><p>its members, or any class of them, and</p></content></level></level><level class="para1"><num>(b)</num><content><p>the purpose of the compromise or arrangement is to eliminate, reduce or prevent, or mitigate the effect of, any of the financial difficulties mentioned in subsection (2).</p></content></level></subsection><subsection><num>(4)</num><intro><p>In this Part—</p></intro><hcontainer name="definition"><content><p>“<term refersTo="#term-arrangement">arrangement</term>” includes a reorganisation of the company's share capital by the consolidation of shares of different classes or by the division of shares into shares of different classes, or by both of those methods;</p></content></hcontainer><hcontainer name="definition"><intro><p>“company”—</p></intro><level class="para1"><num>(a)</num><content><p>in section 901J (powers of court to facilitate reconstruction or amalgamation) means a company within the meaning of this Act, and</p></content></level><level class="para1"><num>(b)</num><content><p>elsewhere in this Part means any company liable to be wound up under the Insolvency Act 1986 or the Insolvency (Northern Ireland) Order 1989 (S.I. 1989/2405 (N.I. 19)).</p></content></level></hcontainer></subsection><subsection><num>(5)</num><content><p>The provisions of this Part have effect subject to Part 27 (mergers and divisions of public companies) where that Part applies (see sections 902 and 903).</p></content></subsection></section><section><num>901B</num><heading>Power to exclude companies providing financial services, etc</heading><subsection><num>(1)</num><intro><p>The Secretary of State may by regulations provide that this Part does not apply—</p></intro><level class="para1"><num>(a)</num><content><p>where the company in respect of which a compromise or arrangement is proposed is an authorised person, or an authorised person of a specified description;</p></content></level><level class="para1"><num>(b)</num><intro><p>where—</p></intro><level class="para2"><num>(i)</num><content><p>a compromise or arrangement is proposed between a company, or a company of a specified description, and any creditors of the company, and</p></content></level><level class="para2"><num>(ii)</num><content><p>those creditors consist of or include creditors of a specified description.</p></content></level></level></subsection><subsection><num>(2)</num><intro><p>In this section—</p></intro><hcontainer name="definition"><content><p>“<term refersTo="#term-authorised-person">authorised person</term>” has the same meaning as in the Financial Services and Markets Act 2000 (see section 31 of that Act);</p></content></hcontainer><hcontainer name="definition"><content><p>“<term refersTo="#term-specified">specified</term>” means specified in the regulations.</p></content></hcontainer></subsection><subsection><num>(3)</num><content><p>Regulations under this section are subject to affirmative resolution procedure.</p></content></subsection></section></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Meeting of creditors or members</i></heading><section><num>901C</num><heading>Court order for holding of meeting</heading><subsection><num>(1)</num><content><p>The court may, on an application under this subsection, order a meeting of the creditors or class of creditors, or of the members of the company or class of members (as the case may be), to be summoned in such manner as the court directs.</p></content></subsection><subsection><num>(2)</num><intro><p>An application under subsection (1) may be made by—</p></intro><level class="para1"><num>(a)</num><content><p>the company,</p></content></level><level class="para1"><num>(b)</num><content><p>any creditor or member of the company,</p></content></level><level class="para1"><num>(c)</num><content><p>if the company is being wound up, the liquidator, or</p></content></level><level class="para1"><num>(d)</num><content><p>if the company is in administration, the administrator.</p></content></level></subsection><subsection><num>(3)</num><content><p>Every creditor or member of the company whose rights are affected by the compromise or arrangement must be permitted to participate in a meeting ordered to be summoned under subsection (1).</p></content></subsection><subsection><num>(4)</num><content><p>But subsection (3) does not apply in relation to a class of creditors or members of the company if, on an application under this subsection, the court is satisfied that none of the members of that class has a genuine economic interest in the company.</p></content></subsection><subsection><num>(5)</num><content><p>An application under subsection (4) is to be made by the person who made the application under subsection (1) in respect of the compromise or arrangement.</p></content></subsection><subsection><num>(6)</num><content><p>Section 323 (representation of corporations at meetings) applies to a meeting of creditors under this section as to a meeting of the company (references to a member of the company being read as references to a creditor).</p></content></subsection><subsection><num>(7)</num><content><p>This section is subject to section 901H (moratorium debts, etc).</p></content></subsection></section><section><num>901D</num><heading>Statement to be circulated or made available</heading><subsection><num>(1)</num><intro><p>Where a meeting is summoned under section 901C—</p></intro><level class="para1"><num>(a)</num><content><p>every notice summoning the meeting that is sent to a creditor or member must be accompanied by a statement complying with this section, and</p></content></level><level class="para1"><num>(b)</num><intro><p>every notice summoning the meeting that is given by advertisement must either—</p></intro><level class="para2"><num>(i)</num><content><p>include such a statement, or</p></content></level><level class="para2"><num>(ii)</num><content><p>state where and how creditors or members entitled to attend the meeting may obtain copies of such a statement.</p></content></level></level></subsection><subsection><num>(2)</num><intro><p>The statement must—</p></intro><level class="para1"><num>(a)</num><content><p>explain the effect of the compromise or arrangement, and</p></content></level><level class="para1"><num>(b)</num><intro><p>in particular, state—</p></intro><level class="para2"><num>(i)</num><content><p>any material interests of the directors of the company (whether as directors or as members or as creditors of the company or otherwise), and</p></content></level><level class="para2"><num>(ii)</num><content><p>the effect on those interests of the compromise or arrangement, in so far as it is different from the effect on the like interests of other persons.</p></content></level></level></subsection><subsection><num>(3)</num><content><p>Where the compromise or arrangement affects the rights of debenture holders of the company, the statement must give the like explanation as respects the trustees of any deed for securing the issue of the debentures as it is required to give as respects the company's directors.</p></content></subsection><subsection><num>(4)</num><content><p>Where a notice given by advertisement states that copies of an explanatory statement can be obtained by creditors or members entitled to attend the meeting, every such creditor or member is entitled, on making application in the manner indicated by the notice, to be provided by the company with a copy of the statement free of charge.</p></content></subsection><subsection><num>(5)</num><intro><p>If a company makes default in complying with any requirement of this section, an offence is committed by—</p></intro><level class="para1"><num>(a)</num><content><p>the company, and</p></content></level><level class="para1"><num>(b)</num><content><p>every officer of the company who is in default.</p></content></level><wrapUp><p>This is subject to subsection (7).</p></wrapUp></subsection><subsection><num>(6)</num><intro><p>For this purpose the following are treated as officers of the company—</p></intro><level class="para1"><num>(a)</num><content><p>a liquidator or administrator of the company, and</p></content></level><level class="para1"><num>(b)</num><content><p>a trustee of a deed for securing the issue of debentures of the company.</p></content></level></subsection><subsection><num>(7)</num><content><p>A person is not guilty of an offence under this section if the person shows that the default was due to the refusal of a director or trustee for debenture holders to supply the necessary particulars of the director's or (as the case may be) the trustee's interests.</p></content></subsection><subsection><num>(8)</num><intro><p>A person guilty of an offence under this section is liable—</p></intro><level class="para1"><num>(a)</num><content><p>on conviction on indictment, to a fine;</p></content></level><level class="para1"><num>(b)</num><content><p>on summary conviction in England and Wales, to a fine;</p></content></level><level class="para1"><num>(c)</num><content><p>on summary conviction in Scotland or Northern Ireland, to a fine not exceeding the statutory maximum.</p></content></level></subsection></section><section><num>901E</num><heading>Duty of directors and trustees to provide information</heading><subsection><num>(1)</num><intro><p>It is the duty of—</p></intro><level class="para1"><num>(a)</num><content><p>any director of the company, and</p></content></level><level class="para1"><num>(b)</num><content><p>any trustee for its debenture holders,</p></content></level><wrapUp><p>to give notice to the company of such matters relating to that director or trustee as may be necessary for the purposes of section 901D (explanatory statement to be circulated or made available).</p></wrapUp></subsection><subsection><num>(2)</num><content><p>Any person who makes default in complying with this section commits an offence.</p></content></subsection><subsection><num>(3)</num><content><p>A person guilty of an offence under this section is liable on summary conviction to a fine not exceeding level 3 on the standard scale.</p></content></subsection></section></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Court sanction for compromise or arrangement</i></heading><section><num>901F</num><heading>Court sanction for compromise or arrangement</heading><subsection><num>(1)</num><content><p>If a number representing 75% in value of the creditors or class of creditors or members or class of members (as the case may be), present and voting either in person or by proxy at the meeting summoned under section 901C, agree a compromise or arrangement, the court may, on an application under this section, sanction the compromise or arrangement.</p></content></subsection><subsection><num>(2)</num><intro><p>Subsection (1) is subject to—</p></intro><level class="para1"><num>(a)</num><content><p>section 901G (sanction for compromise or arrangement where one or more classes dissent), and</p></content></level><level class="para1"><num>(b)</num><content><p>section 901H (moratorium debts, etc).</p></content></level></subsection><subsection><num>(3)</num><intro><p>An application under this section may be made by—</p></intro><level class="para1"><num>(a)</num><content><p>the company,</p></content></level><level class="para1"><num>(b)</num><content><p>any creditor or member of the company,</p></content></level><level class="para1"><num>(c)</num><content><p>if the company is being wound up, the liquidator, or</p></content></level><level class="para1"><num>(d)</num><content><p>if the company is in administration, the administrator.</p></content></level></subsection><subsection><num>(4)</num><intro><p>Where the court makes an order under this section in relation to a company that is in administration or is being wound up, the court may by the order—</p></intro><level class="para1"><num>(a)</num><content><p>provide for the appointment of the administrator or liquidator to cease to have effect;</p></content></level><level class="para1"><num>(b)</num><content><p>stay or sist all proceedings in the administration or the winding up;</p></content></level><level class="para1"><num>(c)</num><content><p>impose any requirements with respect to the conduct of the administration or the winding up which the court thinks appropriate for facilitating the compromise or arrangement.</p></content></level></subsection><subsection><num>(5)</num><intro><p>A compromise or arrangement sanctioned by the court is binding—</p></intro><level class="para1"><num>(a)</num><content><p>on all creditors or the class of creditors or on the members or class of members (as the case may be), and</p></content></level><level class="para1"><num>(b)</num><content><p>on the company or, in the case of a company in the course of being wound up, the liquidator and contributories of the company.</p></content></level></subsection><subsection><num>(6)</num><intro><p>The court's order has no effect until a copy of it has been—</p></intro><level class="para1"><num>(a)</num><content><p>in the case of an overseas company that is not required to register particulars under section 1046, published in the Gazette, or</p></content></level><level class="para1"><num>(b)</num><content><p>in any other case, delivered to the registrar.</p></content></level></subsection></section><section><num>901G</num><heading>Sanction for compromise or arrangement where one or more classes dissent</heading><subsection><num>(1)</num><content><p>This section applies if the compromise or arrangement is not agreed by a number representing at least 75% in value of a class of creditors or (as the case may be) of members of the company (“the dissenting class”), present and voting either in person or by proxy at the meeting summoned under section 901C.</p></content></subsection><subsection><num>(2)</num><content><p>If conditions A and B are met, the fact that the dissenting class has not agreed the compromise or arrangement does not prevent the court from sanctioning it under section 901F.</p></content></subsection><subsection><num>(3)</num><content><p>Condition A is that the court is satisfied that, if the compromise or arrangement were to be sanctioned under section 901F, none of the members of the dissenting class would be any worse off than they would be in the event of the relevant alternative (see subsection (4)).</p></content></subsection><subsection><num>(4)</num><content><p>For the purposes of this section “the relevant alternative” is whatever the court considers would be most likely to occur in relation to the company if the compromise or arrangement were not sanctioned under section 901F.</p></content></subsection><subsection><num>(5)</num><content><p>Condition B is that the compromise or arrangement has been agreed by a number representing 75% in value of a class of creditors or (as the case may be) of members, present and voting either in person or by proxy at the meeting summoned under section 901C, who would receive a payment, or have a genuine economic interest in the company, in the event of the relevant alternative.</p></content></subsection><subsection><num>(6)</num><intro><p>The Secretary of State may by regulations amend this section for the purpose of—</p></intro><level class="para1"><num>(a)</num><content><p>adding to the conditions that must be met for the purposes of this section;</p></content></level><level class="para1"><num>(b)</num><content><p>removing or varying any of those conditions.</p></content></level></subsection><subsection><num>(7)</num><content><p>Regulations under subsection (6) are subject to affirmative resolution procedure.</p></content></subsection></section></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Special cases</i></heading><section><num>901H</num><heading>Moratorium debts, etc</heading><subsection><num>(1)</num><intro><p>This section applies where—</p></intro><level class="para1"><num>(a)</num><content><p>an application under section 901C(1) in respect of a compromise or arrangement is made before the end of the period of 12 weeks beginning with the day after the end of any moratorium for the company under Part A1 of the Insolvency Act 1986 or Part 1A of the Insolvency (Northern Ireland) Order 1989 (S.I. 1989/2405 (N.I. 19)), and</p></content></level><level class="para1"><num>(b)</num><content><p>the creditors with whom the compromise or arrangement is proposed include any relevant creditors (see subsection (2)).</p></content></level></subsection><subsection><num>(2)</num><intro><p>In this section “<term refersTo="#term-relevant-creditor">relevant creditor</term>” means—</p></intro><level class="para1"><num>(a)</num><content><p>a creditor in respect of a moratorium debt, or</p></content></level><level class="para1"><num>(b)</num><content><p>a creditor in respect of a priority pre-moratorium debt.</p></content></level></subsection><subsection><num>(3)</num><content><p>The relevant creditors may not participate in the meeting summoned under section 901C.</p></content></subsection><subsection><num>(4)</num><intro><p>For the purposes of section 901D (statement to be circulated or made available)—</p></intro><level class="para1"><num>(a)</num><content><p>the requirement in section 901D(1)(a) is to be read as including a requirement to send each relevant creditor a statement complying with section 901D;</p></content></level><level class="para1"><num>(b)</num><content><p>any reference to creditors entitled to attend the meeting summoned under section 901C includes a reference to relevant creditors.</p></content></level></subsection><subsection><num>(5)</num><content><p>The court may not sanction the compromise or arrangement under section 901F if it includes provision in respect of any relevant creditor who has not agreed to it.</p></content></subsection><subsection><num>(6)</num><content><p>In this section—</p><blockList class="unordered none" ukl:Name="UnorderedList" ukl:Decoration="none"><item><p>“moratorium debt”—</p><blockList class="ordered alpha parens" ukl:Name="OrderedList" ukl:Type="alpha" ukl:Decoration="parens"><item><num>(a)</num><p>in the case of a moratorium under Part A1 of the Insolvency Act 1986, has the same meaning as in section 174A of that Act;</p></item><item><num>(b)</num><p>in the case of a moratorium under Part 1A of the Insolvency (Northern Ireland) Order 1989, has the same meaning as in Article 148A of that Order;</p></item></blockList></item><item><p>“priority pre-moratorium debt”—</p><blockList class="ordered alpha parens" ukl:Name="OrderedList" ukl:Type="alpha" ukl:Decoration="parens"><item><num>(a)</num><p>in the case of a moratorium under Part A1 of the Insolvency Act 1986, has the same meaning as in section 174A of that Act;</p></item><item><num>(b)</num><p>in the case of a moratorium under Part 1A of the Insolvency (Northern Ireland) Order 1989, has the same meaning as in Article 148A of that Order.</p></item></blockList></item></blockList></content></subsection></section><section><num>901I</num><heading>Pension schemes</heading><subsection><num>(1)</num><content><p>In a case where the company in respect of which a compromise or arrangement is proposed is or has been an employer in respect of an occupational pension scheme that is not a money purchase scheme, any notice or other document required to be sent to a creditor of the company must also be sent to the Pensions Regulator.</p></content></subsection><subsection><num>(2)</num><content><p>In a case where the company in respect of which a compromise or arrangement is proposed is an employer in respect of an eligible scheme, any notice or other document required to be sent to a creditor of the company must also be sent to the Board of the Pension Protection Fund (“<term refersTo="#term-the-board">the Board</term>”).</p></content></subsection><subsection><num>(3)</num><intro><p>The Secretary of State may by regulations provide that, in a case where—</p></intro><level class="para1"><num>(a)</num><content><p>the company in respect of which a compromise or arrangement is proposed is an employer in respect of an eligible scheme, and</p></content></level><level class="para1"><num>(b)</num><content><p>the trustees or managers of the scheme are a creditor of the company,</p></content></level><wrapUp><p>the Board may exercise any rights, or any rights of a specified description, that are exercisable under this Part by the trustees or managers as a creditor of the company.</p></wrapUp></subsection><subsection><num>(4)</num><intro><p>Regulations under this section may provide that the Board may exercise any such rights—</p></intro><level class="para1"><num>(a)</num><content><p>to the exclusion of the trustees or managers of the scheme, or</p></content></level><level class="para1"><num>(b)</num><content><p>in addition to the exercise of those rights by the trustees or managers of the scheme.</p></content></level></subsection><subsection><num>(5)</num><intro><p>Regulations under this section—</p></intro><level class="para1"><num>(a)</num><content><p>may specify conditions that must be met before the Board may exercise any such rights;</p></content></level><level class="para1"><num>(b)</num><content><p>may provide for any such rights to be exercisable by the Board for a specified period;</p></content></level><level class="para1"><num>(c)</num><content><p>may make provision in connection with any such rights ceasing to be so exercisable at the end of such a period.</p></content></level></subsection><subsection><num>(6)</num><content><p>Regulations under this section are subject to affirmative resolution procedure (but see subsection (7)).</p></content></subsection><subsection><num>(7)</num><content><p>During the period of six months beginning with the day on which this section comes into force, regulations under this section are subject to approval after being made (and subsection (6) does not apply).</p></content></subsection><subsection><num>(8)</num><content><p>For the purposes of subsection (7), section 1291 has effect as if any reference in that section to a period of 28 days were to a period of 40 days.</p></content></subsection><subsection><num>(9)</num><intro><p>In this section—</p></intro><hcontainer name="definition"><content><p>“<term refersTo="#term-eligible-scheme">eligible scheme</term>” means any pension scheme that is an eligible scheme for the purposes of section 126 of the Pensions Act 2004 or Article 110 of the Pensions (Northern Ireland) Order 2005 (S.I. 2005/255 (N.I. 1));</p></content></hcontainer><hcontainer name="definition"><intro><p>“employer”—</p></intro><level class="para1"><num>(a)</num><content><p>in subsection (1), means an employer within the meaning of section 318(1) of the Pensions Act 2004 or Article 2(2) of the Pensions (Northern Ireland) Order 2005;</p></content></level><level class="para1"><num>(b)</num><content><p>in subsections (2) and (3)—</p><blockList class="ordered roman parens" ukl:Name="OrderedList" ukl:Type="roman" ukl:Decoration="parens"><item><num>(i)</num><p>in the case of a pension scheme that is an eligible scheme for the purposes of section 126 of the Pensions Act 2004, has the same meaning as it has for the purposes of Part 2 of that Act (see section 318(1) and (4) of that Act);</p></item><item><num>(ii)</num><p>in the case of a pension scheme that is an eligible scheme for the purposes of Article 110 of the Pensions (Northern Ireland) Order 2005, has the same meaning as it has for the purposes of Part 3 of that Order (see Article 2(2) and (5) of that Order);</p></item></blockList></content></level></hcontainer><hcontainer name="definition"><content><p>“<term refersTo="#term-money-purchase-scheme">money purchase scheme</term>” means a pension scheme that is a money purchase scheme for the purposes of the Pension Schemes Act 1993 (see section 181(1) of that Act) or the Pension Schemes (Northern Ireland) Act 1993 (see section 176(1) of that Act);</p></content></hcontainer><hcontainer name="definition"><content><p>“occupational pension scheme” and “pension scheme” have the meaning given by section 1 of the Pension Schemes Act 1993;</p></content></hcontainer><hcontainer name="definition"><content><p>“<term refersTo="#term-specified">specified</term>” means specified in regulations under this section.</p></content></hcontainer></subsection></section></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Reconstructions and amalgamations</i></heading><section><num>901J</num><heading>Powers of court to facilitate reconstruction or amalgamation</heading><subsection><num>(1)</num><intro><p>This section applies where application is made to the court under section 901F to sanction a compromise or arrangement and it is shown that—</p></intro><level class="para1"><num>(a)</num><content><p>the compromise or arrangement is proposed in connection with a scheme for the reconstruction of any company or companies, or the amalgamation of any two or more companies, and</p></content></level><level class="para1"><num>(b)</num><content><p>under the scheme the whole or any part of the undertaking or the property of any company concerned in the scheme (a “transferor company”) is to be transferred to another company (“<term refersTo="#term-the-transferee-company">the transferee company</term>”).</p></content></level></subsection><subsection><num>(2)</num><intro><p>The court may, either by the order sanctioning the compromise or arrangement or by a subsequent order, make provision for all or any of the following matters—</p></intro><level class="para1"><num>(a)</num><content><p>the transfer to the transferee company of the whole or any part of the undertaking and of the property or liabilities of any transferor company;</p></content></level><level class="para1"><num>(b)</num><content><p>the allotting or appropriation by the transferee company of any shares, debentures, policies or other like interests in that company which under the compromise or arrangement are to be allotted or appropriated by that company to or for any person;</p></content></level><level class="para1"><num>(c)</num><content><p>the continuation by or against the transferee company of any legal proceedings pending by or against any transferor company;</p></content></level><level class="para1"><num>(d)</num><content><p>the dissolution, without winding up, of any transferor company;</p></content></level><level class="para1"><num>(e)</num><content><p>the provision to be made for any persons who, within such time and in such manner as the court directs, dissent from the compromise or arrangement;</p></content></level><level class="para1"><num>(f)</num><content><p>such incidental, consequential and supplemental matters as are necessary to secure that the reconstruction or amalgamation is fully and effectively carried out.</p></content></level></subsection><subsection><num>(3)</num><intro><p>If an order under this section provides for the transfer of property or liabilities—</p></intro><level class="para1"><num>(a)</num><content><p>the property is by virtue of the order transferred to, and vests in, the transferee company, and</p></content></level><level class="para1"><num>(b)</num><content><p>the liabilities are, by virtue of the order, transferred to and become liabilities of that company.</p></content></level></subsection><subsection><num>(4)</num><content><p>The property (if the order so directs) vests freed from any charge that is by virtue of the compromise or arrangement to cease to have effect.</p></content></subsection><subsection><num>(5)</num><intro><p>In this section—</p></intro><hcontainer name="definition"><content><p>“<term refersTo="#term-property">property</term>” includes property, rights and powers of every description; and</p></content></hcontainer><hcontainer name="definition"><content><p>“<term refersTo="#term-liabilities">liabilities</term>” includes duties.</p></content></hcontainer></subsection><subsection><num>(6)</num><content><p>Every company in relation to which an order is made under this section must cause a copy of the order to be delivered to the registrar within seven days after its making.</p></content></subsection><subsection><num>(7)</num><intro><p>If default is made in complying with subsection (6) an offence is committed by—</p></intro><level class="para1"><num>(a)</num><content><p>the company, and</p></content></level><level class="para1"><num>(b)</num><content><p>every officer of the company who is in default.</p></content></level></subsection><subsection><num>(8)</num><content><p>A person guilty of an offence under subsection (7) is liable on summary conviction to a fine not exceeding level 3 on the standard scale and, for continued contravention, a daily default fine not exceeding one-tenth of level 3 on the standard scale.</p></content></subsection></section></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Obligations of company with respect to articles etc</i></heading><section><num>901K</num><heading>Obligations of company with respect to articles etc</heading><subsection><num>(1)</num><intro><p>This section applies—</p></intro><level class="para1"><num>(a)</num><content><p>to any order under section 901F (order sanctioning compromise or arrangement), and</p></content></level><level class="para1"><num>(b)</num><content><p>to any order under section 901J (order facilitating reconstruction or amalgamation) that alters the company's constitution.</p></content></level></subsection><subsection><num>(2)</num><intro><p>If—</p></intro><level class="para1"><num>(a)</num><intro><p>the order amends—</p></intro><level class="para2"><num>(i)</num><content><p>the company's articles, or</p></content></level><level class="para2"><num>(ii)</num><content><p>any resolution or agreement to which Chapter 3 of Part 3 applies (resolution or agreement affecting a company's constitution), and</p></content></level></level><level class="para1"><num>(b)</num><content><p>a copy of the order is required to be delivered to the registrar by the company under section 901F(6)(b) or section 901J(6),</p></content></level><wrapUp><p>the copy of the order delivered to the registrar must be accompanied by a copy of the company's articles, or the resolution or agreement in question, as amended.</p></wrapUp></subsection><subsection><num>(3)</num><content><p>Every copy of the company's articles issued by the company after the order is made must be accompanied by a copy of the order, unless the effect of the order has been incorporated into the articles by amendment.</p></content></subsection><subsection><num>(4)</num><intro><p>In this section—</p></intro><level class="para1"><num>(a)</num><content><p>references to the effect of the order include the effect of the compromise or arrangement to which the order relates, and</p></content></level><level class="para1"><num>(b)</num><content><p>in the case of a company not having articles, references to its articles are to be read as references to the instrument constituting the company or defining its constitution.</p></content></level></subsection><subsection><num>(5)</num><intro><p>If a company makes default in complying with this section an offence is committed by—</p></intro><level class="para1"><num>(a)</num><content><p>the company, and</p></content></level><level class="para1"><num>(b)</num><content><p>every officer of the company who is in default.</p></content></level></subsection><subsection><num>(6)</num><content><p>A person guilty of an offence under this section is liable on summary conviction to a fine not exceeding level 3 on the standard scale.</p></content></subsection></section></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Power to amend Act</i></heading><section><num>901L</num><heading>Power to amend Act</heading><subsection><num>(1)</num><content><p>The Secretary of State may by regulations make any amendment of this Act which the Secretary of State considers necessary or expedient for the purposes of, in consequence of, or for giving full effect to this Part.</p></content></subsection><subsection><num>(2)</num><content><p>Regulations under this section are subject to affirmative resolution procedure.</p></content></subsection></section></hcontainer></part></quotedStructure></mod></p></content></paragraph></part><part eId="schedule-9-part-2"><num><b>PART 2</b></num><heading>Consequential amendments</heading><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-9-part-2-crossheading-finance-act-1986"><heading><i>Finance Act 1986</i></heading><paragraph eId="schedule-9-paragraph-2" class="schProv1"><num>2</num><content><p>The Finance Act 1986 is amended as follows.</p></content></paragraph><paragraph eId="schedule-9-paragraph-3" class="schProv1"><num>3</num><content><p><mod>In section 80D (repurchases and stock lending: replacement stock on insolvency), in subsection (9)(f), after “Part 26” insert <quotedText>“
or 26A
”</quotedText>.</mod></p></content></paragraph><paragraph eId="schedule-9-paragraph-4" class="schProv1"><num>4</num><content><p><mod>In section 89AB (stamp duty reserve tax: exception for repurchases and stock lending in case of insolvency), in subsection (9)(f), after “Part 26” insert <quotedText>“
or 26A
”</quotedText>.</mod></p></content></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-9-part-2-crossheading-insolvency-act-1986"><heading><i>Insolvency Act 1986</i></heading><paragraph eId="schedule-9-paragraph-5" class="schProv1"><num>5</num><content><p>The Insolvency Act 1986 is amended as follows.</p></content></paragraph><paragraph eId="schedule-9-paragraph-6" class="schProv1"><num>6</num><subparagraph eId="schedule-9-paragraph-6-1"><num>(1)</num><content><p>In Part 4 (winding up of companies registered under the Companies Acts), Chapter 8 (provisions of general application in winding up) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-9-paragraph-6-2"><num>(2)</num><content><p><mod>In section 176ZB (application of proceeds of office-holder claims), in subsection (4)(b), after “Part 26” insert <quotedText>“
or 26A
”</quotedText>.</mod></p></content></subparagraph><subparagraph eId="schedule-9-paragraph-6-3"><num>(3)</num><content><p><mod>In section 176A (share of assets for unsecured creditors), in subsection (4)(b), after “Part 26” insert <quotedText>“
or 26A
”</quotedText>.</mod></p></content></subparagraph></paragraph><paragraph eId="schedule-9-paragraph-7" class="schProv1"><num>7</num><subparagraph eId="schedule-9-paragraph-7-1"><num>(1)</num><content><p>Schedule B1 (administration) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-9-paragraph-7-2"><num>(2)</num><content><p><mod>In paragraph 49 (administrator's proposals), in sub-paragraph (3)(b), after “Part 26” insert <quotedText>“
or 26A
”</quotedText>.</mod></p></content></subparagraph><subparagraph eId="schedule-9-paragraph-7-3"><num>(3)</num><content><p><mod>In paragraph 73 (protection for priority creditor), in sub-paragraph (2)(c), after “Part 26” insert <quotedText>“
or 26A
”</quotedText>.</mod></p></content></subparagraph><subparagraph eId="schedule-9-paragraph-7-4"><num>(4)</num><content><p><mod>In paragraph 74 (challenge to administrator's conduct of company), in sub-paragraph (6)(b), after “Part 26” insert <quotedText>“
or 26A
”</quotedText>.</mod></p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-9-part-2-crossheading-insolvency-northern-ireland-order-1989-si-19892405-ni-19"><heading><i>Insolvency (Northern Ireland) Order 1989 (S.I. 1989/2405 (N.I. 19))</i></heading><paragraph eId="schedule-9-paragraph-8" class="schProv1"><num>8</num><content><p>The Insolvency (Northern Ireland) Order 1989 is amended as follows.</p></content></paragraph><paragraph eId="schedule-9-paragraph-9" class="schProv1"><num>9</num><content><p><mod>In Article 150A (share of assets for unsecured creditors), in paragraph (4)(b), after “Part 26” insert <quotedText>“
or 26A
”</quotedText>.</mod></p></content></paragraph><paragraph eId="schedule-9-paragraph-10" class="schProv1"><num>10</num><subparagraph eId="schedule-9-paragraph-10-1"><num>(1)</num><content><p>Schedule B1 (administration) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-9-paragraph-10-2"><num>(2)</num><content><p><mod>In paragraph 50 (administrator's proposals), in sub-paragraph (3)(b), after “Part 26” insert <quotedText>“
or 26A
”</quotedText>.</mod></p></content></subparagraph><subparagraph eId="schedule-9-paragraph-10-3"><num>(3)</num><content><p><mod>In paragraph 74 (protection for secured or preferential creditor), in sub-paragraph (2)(c), after “Part 26” insert <quotedText>“
or 26A
”</quotedText>.</mod></p></content></subparagraph><subparagraph eId="schedule-9-paragraph-10-4"><num>(4)</num><content><p><mod>In paragraph 75 (challenge to administrator's conduct of company), in sub-paragraph (6)(b), after “Part 26” insert <quotedText>“
or 26A
”</quotedText>.</mod></p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-9-part-2-crossheading-water-industry-act-1991"><heading><i>Water Industry Act 1991</i></heading><paragraph eId="schedule-9-paragraph-11" class="schProv1"><num>11</num><content><p><mod>In section 23 of the Water Industry Act 1991 (meaning and effect of special administration order), in subsection (2D)(b), after “Part 26” insert <quotedText>“
or 26A
”</quotedText>.</mod></p></content></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-9-part-2-crossheading-taxation-of-chargeable-gains-act-1992"><heading><i>Taxation of Chargeable Gains Act 1992</i></heading><paragraph eId="schedule-9-paragraph-12" class="schProv1"><num>12</num><content><p>The Taxation of Chargeable Gains Act 1992 is amended as follows.</p></content></paragraph><paragraph eId="schedule-9-paragraph-13" class="schProv1"><num>13</num><content><p><mod>In section 263CA (stock lending: insolvency etc of borrower), in subsection (9)(f), after “Part 26” insert <quotedText>“
or 26A
”</quotedText>.</mod></p></content></paragraph><paragraph eId="schedule-9-paragraph-14" class="schProv1"><num>14</num><content><p><mod>In Schedule 5AA (meaning of “scheme of reconstruction” for purposes of section 136), in paragraph 5(a)(i), after “Part 26” insert <quotedText>“
or 26A
”</quotedText>.</mod></p></content></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-9-part-2-crossheading-value-added-tax-act-1994"><heading><i>Value Added Tax Act 1994</i></heading><paragraph eId="schedule-9-paragraph-15" class="schProv1"><num>15</num><content><p><mod>In section 26AA of the Value Added Tax Act 1994 (disapplication of disallowance under section 26A in insolvency), in subsection (8), after paragraph (k) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="default"><level class="para1"><num>(ka)</num><content><p>a compromise or arrangement sanctioned by the court and delivered to the registrar or (as the case may be) published in the Gazette in accordance with section 901F of the Companies Act 2006 is in place in relation to that person,</p></content></level></quotedStructure><inline name="appendText">.</inline></mod></p></content></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-9-part-2-crossheading-housing-act-1996"><heading><i>Housing Act 1996</i></heading><paragraph eId="schedule-9-paragraph-16" class="schProv1"><num>16</num><subparagraph eId="schedule-9-paragraph-16-1"><num>(1)</num><content><p>In Part 2 of Schedule 1 to the Housing Act 1996 (registered social landlords: constitution, change of rules, amalgamation and dissolution), paragraph 13 (arrangement, reconstruction, etc of company) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-9-paragraph-16-2"><num>(2)</num><content><p><mod>After sub-paragraph (3) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="unknown" uk:docName="unknown" ukl:TargetClass="unknown" ukl:TargetSubClass="unknown" ukl:Context="unknown" ukl:Format="default"><subsection><num>(3A)</num><content><p>If a court makes an order under section 901F of the Companies Act 2006 (sanction of compromise or arrangement with creditors or members) in relation to the company, the company must notify the Welsh Ministers of the order.</p></content></subsection><subsection><num>(3B)</num><content><p>If a court makes an order under section 901J of the Companies Act 2006 (powers of court to facilitate reconstruction or amalgamation) in relation to the company, the company must notify the Welsh Ministers of the order.</p></content></subsection></quotedStructure></mod></p></content></subparagraph><subparagraph eId="schedule-9-paragraph-16-3"><num>(3)</num><content><p><mod>In sub-paragraph (8), after “sub-paragraph (3)” insert <quotedText>“
, (3B)
”</quotedText>.</mod></p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-9-part-2-crossheading-financial-services-and-markets-act-2000"><heading><i>Financial Services and Markets Act 2000</i></heading><paragraph eId="schedule-9-paragraph-17" class="schProv1"><num>17</num><content><p>The Financial Services and Markets Act 2000 is amended as follows.</p></content></paragraph><paragraph eId="schedule-9-paragraph-18" class="schProv1"><num>18</num><content><p><mod>In section 105 (insurance business transfer schemes), in subsection (5), for “Part 26 of that Act” substitute <quotedText>“
Part 26 or 26A of that Act, as the case may be
”</quotedText>.</mod></p></content></paragraph><paragraph eId="schedule-9-paragraph-19" class="schProv1"><num>19</num><intro><p>In Schedule 17A (further provision in relation to exercise of Part 18 functions by Bank of England), in paragraph 24 (insolvency)—</p></intro><level class="para1" eId="schedule-9-paragraph-19-a"><num>(a)</num><content><p><mod>in sub-paragraph (1), before paragraph (a) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="unknown" uk:docName="unknown" ukl:TargetClass="unknown" ukl:TargetSubClass="unknown" ukl:Context="unknown" ukl:Format="default"><level class="para1"><num>(za)</num><content><p>sections 355A and 355B (powers to participate in proceedings under Part 26A of the Companies Act 2006);</p></content></level></quotedStructure><inline name="appendText">;</inline></mod></p></content></level><level class="para1" eId="schedule-9-paragraph-19-b"><num>(b)</num><content><p><mod>in sub-paragraph (2), after “recognised investment exchange” insert <quotedText>“
(other than the reference to “an authorised person” in section 355B(2)(a))
”</quotedText>.</mod></p></content></level></paragraph><paragraph eId="schedule-9-paragraph-20" class="schProv1"><num>20</num><subparagraph eId="schedule-9-paragraph-20-1"><num>(1)</num><content><p>Part 24 (insolvency) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-9-paragraph-20-2"><num>(2)</num><content><p><mod>After section 355 insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="default"><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Arrangements and reconstructions: companies in financial difficulty</i></heading><section><num>355A</num><heading>Powers of FCA and PRA to participate in proceedings</heading><subsection><num>(1)</num><intro><p>This section applies where Part 26A of the Companies Act 2006 (“<term refersTo="#term-the-2006-act">the 2006 Act</term>”) (arrangements and reconstructions: companies in financial difficulty) applies in relation to a company which—</p></intro><level class="para1"><num>(a)</num><content><p>is, or has been, an authorised person or recognised investment exchange;</p></content></level><level class="para1"><num>(b)</num><intro><p>is, or has been, any of the following—</p></intro><level class="para2"><num>(i)</num><content><p>an electronic money institution;</p></content></level><level class="para2"><num>(ii)</num><content><p>an authorised payment institution;</p></content></level><level class="para2"><num>(iii)</num><content><p>a small payment institution;</p></content></level><level class="para2"><num>(iv)</num><content><p>a registered account information service provider;</p></content></level></level><level class="para1"><num>(c)</num><content><p>is, or has been, an appointed representative; or</p></content></level><level class="para1"><num>(d)</num><content><p>is carrying on, or has carried on, a regulated activity in contravention of the general prohibition.</p></content></level></subsection><subsection><num>(2)</num><intro><p>A relevant applicant must give notice to the appropriate regulator of—</p></intro><level class="para1"><num>(a)</num><content><p>any application which the relevant applicant intends to make under section 901C(1) of the 2006 Act, and</p></content></level><level class="para1"><num>(b)</num><content><p>any application which the relevant applicant believes a creditor or member of the company has made, or intends to make, under section 901C(1) of that Act in relation to the company.</p></content></level></subsection><subsection><num>(3)</num><content><p>A relevant applicant may not make an application under section 901C(1) of the 2006 Act in relation to a company that is a PRA-regulated person without the consent of the PRA.</p></content></subsection><subsection><num>(4)</num><intro><p>In this section “<term refersTo="#term-relevant-applicant">relevant applicant</term>”, in relation to a company, means—</p></intro><level class="para1"><num>(a)</num><content><p>the company;</p></content></level><level class="para1"><num>(b)</num><content><p>if the company is being wound up, the liquidator;</p></content></level><level class="para1"><num>(c)</num><content><p>if the company is in administration, the administrator.</p></content></level></subsection><subsection><num>(5)</num><content><p>The appropriate regulator is entitled to be heard at any hearing of an application made under section 901C or 901F of the 2006 Act in relation to the company.</p></content></subsection><subsection><num>(6)</num><content><p>Any notice or other document required to be sent to a creditor of the company must also be sent to the appropriate regulator.</p></content></subsection><subsection><num>(7)</num><intro><p>A person appointed for the purpose by the appropriate regulator is entitled—</p></intro><level class="para1"><num>(a)</num><content><p>to attend any meeting of creditors of the company summoned under section 901C of the 2006 Act;</p></content></level><level class="para1"><num>(b)</num><content><p>to make representations as to any matter for decision at such a meeting.</p></content></level></subsection><subsection><num>(8)</num><intro><p>In this section—</p></intro><hcontainer name="definition"><intro><p>“<term refersTo="#term-the-appropriate-regulator">the appropriate regulator</term>” means—</p></intro><level class="para1"><num>(a)</num><content><p>where the company is a PRA-regulated person, each of the FCA and the PRA, except that the reference in subsection (7) to a person appointed by the appropriate regulator is to be read as a reference to a person appointed by either the FCA or the PRA;</p></content></level><level class="para1"><num>(b)</num><content><p>in any other case, the FCA;</p></content></level></hcontainer><hcontainer name="definition"><content><p>“<term refersTo="#term-authorised-payment-institution">authorised payment institution</term>”, “<term refersTo="#term-small-payment-institution">small payment institution</term>” and “<term refersTo="#term-registered-account-information-service-provider">registered account information service provider</term>” have the same meaning as in the Payment Services Regulations 2017 (S.I. 2017/752) (see regulation 2 of those Regulations);</p></content></hcontainer><hcontainer name="definition"><content><p>“<term refersTo="#term-electronic-money-institution">electronic money institution</term>” has the same meaning as in the Electronic Money Regulations 2011 (S.I. 2011/99) (see regulation 2 of those Regulations).</p></content></hcontainer></subsection></section><section><num>355B</num><heading>Enforcement of requirements imposed by section 355A</heading><subsection><num>(1)</num><intro><p>For the purpose of enforcing a requirement imposed on a company by section 355A(2) or (3), the appropriate regulator may exercise any of the following powers (so far as it would not otherwise be exercisable)—</p></intro><level class="para1"><num>(a)</num><content><p>the power to publish a statement under section 205 (public censure);</p></content></level><level class="para1"><num>(b)</num><content><p>the power to impose a financial penalty under section 206.</p></content></level></subsection><subsection><num>(2)</num><intro><p>Accordingly, sections 205 and 206, and so much of this Act as relates to either of those sections, have effect in relation to a requirement imposed by section 355A(2) or (3) as if—</p></intro><level class="para1"><num>(a)</num><content><p>any reference to an authorised person included (so far as would not otherwise be the case) a reference to a company falling within any of paragraphs (a) to (d) of section 355A(1),</p></content></level><level class="para1"><num>(b)</num><content><p>any reference to a relevant requirement included (so far as would not otherwise be the case) a reference to a requirement imposed by section 355A(2) or (3), and</p></content></level><level class="para1"><num>(c)</num><content><p>“the appropriate regulator” had the same meaning as in section 355A.</p></content></level></subsection><subsection><num>(3)</num><content><p>In this section “<term refersTo="#term-the-appropriate-regulator">the appropriate regulator</term>” has the same meaning as in section 355A.</p></content></subsection></section></hcontainer></quotedStructure></mod></p></content></subparagraph><subparagraph eId="schedule-9-paragraph-20-3"><num>(3)</num><intro><p>In section 362 (powers of FCA and PRA to participate in administration proceedings)—</p></intro><level class="para1" eId="schedule-9-paragraph-20-3-a"><num>(a)</num><intro><p>in subsection (6)—</p></intro><level class="para2" eId="schedule-9-paragraph-20-3-a-i"><num>(i)</num><content><p><mod>after “arrangement” insert <quotedText>“
in relation to which Part 26 of the Companies Act 2006 applies
”</quotedText>, and</mod></p></content></level><level class="para2" eId="schedule-9-paragraph-20-3-a-ii"><num>(ii)</num><content><p><mod>for “the Companies Act 2006” substitute <quotedText>“
that Act
”</quotedText>;</mod></p></content></level></level><level class="para1" eId="schedule-9-paragraph-20-3-b"><num>(b)</num><content><p><mod>after that subsection insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="default"><subsection><num>(6A)</num><content><p>If, during the course of the administration of a company, a compromise or arrangement in relation to which Part 26A of the Companies Act 2006 applies is proposed between the company and its creditors, or any class of them, the appropriate regulator may apply to the court under section 901C or 901F of that Act.</p></content></subsection></quotedStructure></mod></p></content></level></subparagraph><subparagraph eId="schedule-9-paragraph-20-4"><num>(4)</num><intro><p>In section 365 (powers of FCA and PRA to participate in voluntary winding up proceedings)—</p></intro><level class="para1" eId="schedule-9-paragraph-20-4-a"><num>(a)</num><intro><p>in subsection (7)—</p></intro><level class="para2" eId="schedule-9-paragraph-20-4-a-i"><num>(i)</num><content><p><mod>after “arrangement” insert <quotedText>“
in relation to which Part 26 of the Companies Act 2006 applies
”</quotedText>, and</mod></p></content></level><level class="para2" eId="schedule-9-paragraph-20-4-a-ii"><num>(ii)</num><content><p><mod>for “the Companies Act 2006” substitute <quotedText>“
that Act
”</quotedText>;</mod></p></content></level></level><level class="para1" eId="schedule-9-paragraph-20-4-b"><num>(b)</num><content><p><mod>after that subsection insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="default"><subsection><num>(7A)</num><content><p>If, during the course of the winding up of the company, a compromise or arrangement in relation to which Part 26A of the Companies Act 2006 applies is proposed between the company and its creditors, or any class of them, the appropriate regulator may apply to the court under section 901C or 901F of that Act.</p></content></subsection></quotedStructure></mod></p></content></level></subparagraph><subparagraph eId="schedule-9-paragraph-20-5"><num>(5)</num><intro><p>In section 371 (powers of FCA and PRA to participate in proceedings for winding up by court)—</p></intro><level class="para1" eId="schedule-9-paragraph-20-5-a"><num>(a)</num><intro><p>in subsection (5)—</p></intro><level class="para2" eId="schedule-9-paragraph-20-5-a-i"><num>(i)</num><content><p><mod>after “arrangement” insert <quotedText>“
in relation to which Part 26 of the Companies Act 2006 applies
”</quotedText>, and</mod></p></content></level><level class="para2" eId="schedule-9-paragraph-20-5-a-ii"><num>(ii)</num><content><p><mod>for “the Companies Act 2006” substitute <quotedText>“
that Act
”</quotedText>;</mod></p></content></level></level><level class="para1" eId="schedule-9-paragraph-20-5-b"><num>(b)</num><content><p><mod>after that subsection insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="default"><subsection><num>(5A)</num><content><p>If, during the course of the winding up of a company, a compromise or arrangement in relation to which Part 26A of the Companies Act 2006 applies is proposed between the company and its creditors, or any class of them, the appropriate regulator may apply to the court under section 901C or 901F of that Act.</p></content></subsection></quotedStructure></mod></p></content></level></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-9-part-2-crossheading-limited-liability-partnerships-act-2000"><heading><i>Limited Liability Partnerships Act 2000</i></heading><paragraph eId="schedule-9-paragraph-21" class="schProv1"><num>21</num><intro><p>In section 17 of the Limited Liability Partnerships Act 2000, in subsection (5)(b) (procedure for regulations applying provisions of Companies Act 2006)—</p></intro><level class="para1" eId="schedule-9-paragraph-21-a"><num>(a)</num><content><p><mod>in the entry for Part 26 of the Companies Act 2006, after “reconstructions” insert <quotedText>“
: general
”</quotedText>;</mod></p></content></level><level class="para1" eId="schedule-9-paragraph-21-b"><num>(b)</num><content><p><mod>after that entry insert— <quotedText>“
Part 26A (arrangements and reconstructions: companies in financial difficulty);
”</quotedText>.</mod></p></content></level></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-9-part-2-crossheading-enterprise-act-2002"><heading><i>Enterprise Act 2002</i></heading><paragraph eId="schedule-9-paragraph-22" class="schProv1"><num>22</num><content><p><mod>In section 255 of the Enterprise Act 2002 (application of law about company arrangement or administration to non-company), in subsection (2), omit the “and” before paragraph (c) and after that paragraph insert<quotedText startQuote="“">, and
</quotedText><quotedStructure endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="default"><level class="para1"><num>(d)</num><content><p>Part 26A of that Act (compromise or arrangement with creditors where company in financial difficulty).</p></content></level></quotedStructure></mod></p></content></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-9-part-2-crossheading-income-tax-earnings-and-pensions-act-2003"><heading><i>Income Tax (Earnings and Pensions) Act 2003</i></heading><paragraph eId="schedule-9-paragraph-23" class="schProv1"><num>23</num><content><p>The Income Tax (Earnings and Pensions) Act 2003 is amended as follows.</p></content></paragraph><paragraph eId="schedule-9-paragraph-24" class="schProv1"><num>24</num><subparagraph eId="schedule-9-paragraph-24-1"><num>(1)</num><content><p>Schedule 3 (SAYE option schemes) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-9-paragraph-24-2"><num>(2)</num><intro><p>In Part 6 (requirements etc relating to share options), in paragraph 37 (exercise of options: company events)—</p></intro><level class="para1" eId="schedule-9-paragraph-24-2-a"><num>(a)</num><content><p><mod>in sub-paragraph (1), after “(4)” insert <quotedText>“
, (4ZA)
”</quotedText>;</mod></p></content></level><level class="para1" eId="schedule-9-paragraph-24-2-b"><num>(b)</num><content><p><mod>after sub-paragraph (4) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="unknown" uk:docName="unknown" ukl:TargetClass="unknown" ukl:TargetSubClass="unknown" ukl:Context="unknown" ukl:Format="default"><subsection><num>(4ZA)</num><intro><p>The relevant date for the purposes of this sub-paragraph is the date when the court sanctions under section 901F of the Companies Act 2006 (court sanction for compromise or arrangement) a compromise or arrangement applicable to or affecting—</p></intro><level class="para1"><num>(a)</num><content><p>all the ordinary share capital of the company or all the shares of the same class as the shares to which the option relates, or</p></content></level><level class="para1"><num>(b)</num><content><p>all the shares, or all the shares of that same class, which are held by a class of shareholders identified otherwise than by reference to their employment or directorships or their participation in a Schedule 3 SAYE option scheme.</p></content></level></subsection></quotedStructure><inline name="appendText">;</inline></mod></p></content></level><level class="para1" eId="schedule-9-paragraph-24-2-c"><num>(c)</num><content><p><mod>in sub-paragraph (6C)(b), after “sub-paragraph (4)” insert <quotedText>“
or (4ZA)
”</quotedText>;</mod></p></content></level><level class="para1" eId="schedule-9-paragraph-24-2-d"><num>(d)</num><content><p><mod>in sub-paragraph (6E)(a), after “(4)” insert <quotedText>“
, (4ZA)
”</quotedText>;</mod></p></content></level><level class="para1" eId="schedule-9-paragraph-24-2-e"><num>(e)</num><content><p><mod>in sub-paragraph (6F)(a)(i) and (b)(i), after “(4)” insert <quotedText>“
, (4ZA)
”</quotedText>.</mod></p></content></level></subparagraph><subparagraph eId="schedule-9-paragraph-24-3"><num>(3)</num><content><p><mod>In Part 7 (exchange of share options), in paragraph 38 (exchange of options on company reorganisation), in sub-paragraph (2)(b), after “section 899” insert <quotedText>“
or 901F
”</quotedText>.</mod></p></content></subparagraph></paragraph><paragraph eId="schedule-9-paragraph-25" class="schProv1"><num>25</num><subparagraph eId="schedule-9-paragraph-25-1"><num>(1)</num><content><p>Schedule 4 (CSOP schemes) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-9-paragraph-25-2"><num>(2)</num><intro><p>In Part 5 (requirements etc relating to share options), in paragraph 25A (exercise of options: company events)—</p></intro><level class="para1" eId="schedule-9-paragraph-25-2-a"><num>(a)</num><content><p><mod>in sub-paragraph (1), after “(6)” insert <quotedText>“
, (6ZA)
”</quotedText>;</mod></p></content></level><level class="para1" eId="schedule-9-paragraph-25-2-b"><num>(b)</num><content><p><mod>after sub-paragraph (6) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="unknown" uk:docName="unknown" ukl:TargetClass="unknown" ukl:TargetSubClass="unknown" ukl:Context="unknown" ukl:Format="default"><subsection><num>(6ZA)</num><intro><p>The relevant date for the purposes of this sub-paragraph is the date when the court sanctions under section 901F of the Companies Act 2006 (court sanction for compromise or arrangement) a compromise or arrangement applicable to or affecting—</p></intro><level class="para1"><num>(a)</num><content><p>all the ordinary share capital of the company or all the shares of the same class as the shares to which the option relates, or</p></content></level><level class="para1"><num>(b)</num><content><p>all the shares, or all the shares of that same class, which are held by a class of shareholders identified otherwise than by reference to their employment or directorships or their participation in a Schedule 4 CSOP scheme.</p></content></level></subsection></quotedStructure><inline name="appendText">;</inline></mod></p></content></level><level class="para1" eId="schedule-9-paragraph-25-2-c"><num>(c)</num><content><p><mod>in sub-paragraph (7C)(b), after “sub-paragraph (6)” insert <quotedText>“
or (6ZA)
”</quotedText>;</mod></p></content></level><level class="para1" eId="schedule-9-paragraph-25-2-d"><num>(d)</num><content><p><mod>in sub-paragraph (7E)(a), after “(6)” insert <quotedText>“
, (6ZA)
”</quotedText>;</mod></p></content></level><level class="para1" eId="schedule-9-paragraph-25-2-e"><num>(e)</num><content><p><mod>in sub-paragraph (7F)(a)(i) and (b)(i), after “(6)” insert <quotedText>“
, (6ZA)
”</quotedText>.</mod></p></content></level></subparagraph><subparagraph eId="schedule-9-paragraph-25-3"><num>(3)</num><content><p><mod>In Part 6 (exchange of share options), in paragraph 26 (exchange of options on company reorganisation), in sub-paragraph (2)(b), after “section 899” insert <quotedText>“
or 901F
”</quotedText>.</mod></p></content></subparagraph></paragraph><paragraph eId="schedule-9-paragraph-26" class="schProv1"><num>26</num><content><p><mod>In Schedule 5 (enterprise management incentives), in paragraph 39 (company reorganisations), in sub-paragraph (2)(b), after “section 899” insert <quotedText>“
or 901F
”</quotedText>.</mod></p></content></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-9-part-2-crossheading-energy-act-2004"><heading><i>Energy Act 2004</i></heading><paragraph eId="schedule-9-paragraph-27" class="schProv1"><num>27</num><content><p><mod>In Part 2 of Schedule 20 to the Energy Act 2004 (conduct of energy administration: modifications of Schedule B1 to the Insolvency Act 1986), in paragraph 16(2), after “section 899” insert <quotedText>“
or 901F
”</quotedText>.</mod></p></content></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-9-part-2-crossheading-income-tax-trading-and-other-income-act-2005"><heading><i>Income Tax (Trading and Other Income) Act 2005</i></heading><paragraph eId="schedule-9-paragraph-28" class="schProv1"><num>28</num><content><p><mod>In Part 2 of the Income Tax (Trading and Other Income) Act 2005 (trading income), in section 259 (meaning of “statutory insolvency arrangement”), in paragraph (b), after “Part 26” insert <quotedText>“
or 26A
”</quotedText>.</mod></p></content></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-9-part-2-crossheading-insolvency-northern-ireland-order-2005-si-20051455-ni-10"><heading><i>Insolvency (Northern Ireland) Order 2005 (S.I. 2005/1455 (N.I. 10))</i></heading><paragraph eId="schedule-9-paragraph-29" class="schProv1"><num>29</num><content><p><mod>In Article 10 of the Insolvency (Northern Ireland) Order 2005 (application of law about company arrangement or administration to non-company), in paragraph (3), omit the “and” before sub-paragraph (c) and after that sub-paragraph insert<quotedText startQuote="“">, and
</quotedText><quotedStructure endQuote="”" uk:context="body" uk:docName="uksi" ukl:TargetClass="secondary" ukl:TargetSubClass="order" ukl:Context="main" ukl:Format="default"><level class="para1"><num>(d)</num><content><p>Part 26A of that Act (compromise or arrangement with creditors where company in financial difficulty).</p></content></level></quotedStructure></mod></p></content></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-9-part-2-crossheading-companies-act-2006"><heading><i>Companies Act 2006</i></heading><paragraph eId="schedule-9-paragraph-30" class="schProv1"><num>30</num><content><p>The Companies Act 2006 is amended as follows.</p></content></paragraph><paragraph eId="schedule-9-paragraph-31" class="schProv1"><num>31</num><content><p><mod>In section 32(1) (constitutional documents to be provided to members), after paragraph (d) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="default"><level class="para1"><num>(da)</num><content><p>a copy of any court order under section 901F (order sanctioning compromise or arrangement for company in financial difficulty) or section 901J (order facilitating reconstruction or amalgamation);</p></content></level></quotedStructure><inline name="appendText">.</inline></mod></p></content></paragraph><paragraph eId="schedule-9-paragraph-32" class="schProv1"><num>32</num><content><p><mod>In section 93 (recent allotment of shares for non-cash consideration), in subsection (7)(b)(i), after “Part 26” insert <quotedText>“
or 26A
”</quotedText>.</mod></p></content></paragraph><paragraph eId="schedule-9-paragraph-33" class="schProv1"><num>33</num><subparagraph eId="schedule-9-paragraph-33-1"><num>(1)</num><content><p>Part 17 (a company's share capital) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-9-paragraph-33-2"><num>(2)</num><content><p><mod>In section 549 (exercise by directors of powers to allot shares etc), after subsection (3) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="default"><subsection><num>(3A)</num><content><p>Subsection (1) does not apply to anything done for the purposes of a compromise or arrangement sanctioned in accordance with Part 26A (arrangements and reconstructions: companies in financial difficulty).</p></content></subsection></quotedStructure></mod></p></content></subparagraph><subparagraph eId="schedule-9-paragraph-33-3"><num>(3)</num><intro><p>In Chapter 3 (allotment of equity securities: existing shareholders' right of pre-emption)—</p></intro><level class="para1" eId="schedule-9-paragraph-33-3-a"><num>(a)</num><content><p><mod>in section 561 (existing shareholders' right of pre-emption), in subsection (5)(a), for “566” substitute <quotedText>“
566A
”</quotedText>;</mod></p></content></level><level class="para1" eId="schedule-9-paragraph-33-3-b"><num>(b)</num><content><p><mod>after section 566 insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="default"><section><num>566A</num><heading>Exception to pre-emption right: companies in financial difficulty</heading><content><p>Section 561(1) (existing shareholders' right of pre-emption) does not apply to an allotment of equity securities that is carried out as part of a compromise or arrangement sanctioned in accordance with Part 26A (arrangements and reconstructions: companies in financial difficulty).</p></content></section></quotedStructure></mod></p></content></level></subparagraph><subparagraph eId="schedule-9-paragraph-33-4"><num>(4)</num><content><p><mod>In section 594 (exception to valuation requirement: arrangement with another company), in subsection (6)(a)(i), after “Part 26” insert <quotedText>“
or 26A
”</quotedText>.</mod></p></content></subparagraph><subparagraph eId="schedule-9-paragraph-33-5"><num>(5)</num><content><p><mod>In section 616(1) (interpretation of Chapter 7), in paragraph (a) of the definition of “arrangement”, after “Part 26” insert <quotedText>“
or 26A
”</quotedText>.</mod></p></content></subparagraph><subparagraph eId="schedule-9-paragraph-33-6"><num>(6)</num><content><p><mod>In section 617 (alteration of share capital of limited company), in subsection (5)(e)(i), after “Part 26” insert <quotedText>“
or 26A
”</quotedText>.</mod></p></content></subparagraph><subparagraph eId="schedule-9-paragraph-33-7"><num>(7)</num><intro><p>In section 632 (variation of class rights: saving for court's powers under other provisions)—</p></intro><level class="para1" eId="schedule-9-paragraph-33-7-a"><num>(a)</num><content><p><mod>in the entry for Part 26, after “reconstructions” insert <quotedText>“
: general
”</quotedText>;</mod></p></content></level><level class="para1" eId="schedule-9-paragraph-33-7-b"><num>(b)</num><content><p><mod>after that entry (but before the “or”) insert— <quotedText>“
Part 26A (arrangements and reconstructions: companies in financial difficulty),
”</quotedText>.</mod></p></content></level></subparagraph><subparagraph eId="schedule-9-paragraph-33-8"><num>(8)</num><intro><p>In section 641 (circumstances in which a company may reduce its share capital)—</p></intro><level class="para1" eId="schedule-9-paragraph-33-8-a"><num>(a)</num><content><p><mod>in subsection (2C), in the definition of “scheme”, after “Part 26” insert <quotedText>“
or 26A
”</quotedText>;</mod></p></content></level><level class="para1" eId="schedule-9-paragraph-33-8-b"><num>(b)</num><content><p>in subsection (7), for the words from “the phrase” to “Part 26”” substitute “the phrases “sanctioned by the court under Part 26” and “sanctioned by the court under Part 26A””.</p></content></level></subparagraph><subparagraph eId="schedule-9-paragraph-33-9"><num>(9)</num><intro><p>In section 649 (registration of order and statement of capital), in subsection (3)—</p></intro><level class="para1" eId="schedule-9-paragraph-33-9-a"><num>(a)</num><content><p><mod>in paragraph (a), after “reconstructions” insert <quotedText>“
: general
”</quotedText>;</mod></p></content></level><level class="para1" eId="schedule-9-paragraph-33-9-b"><num>(b)</num><content><p><mod>after that paragraph insert—<quotedStructure startQuote="“" endQuote="”" uk:context="unknown" uk:docName="unknown" ukl:TargetClass="unknown" ukl:TargetSubClass="unknown" ukl:Context="unknown" ukl:Format="default"><level class="para1"><num>(aa)</num><intro><p>in the case of a reduction of share capital that forms part of a compromise or arrangement sanctioned by the court under Part 26A (arrangements and reconstructions: companies in financial difficulty)—</p></intro><level class="para2"><num>(i)</num><content><p>in the case of any company other than one to which sub-paragraph (ii) applies, on delivery of the order and statement of capital to the registrar;</p></content></level><level class="para2"><num>(ii)</num><content><p>in the case of an overseas company that is not required to register particulars under section 1046, on publication of the order and statement of capital in the Gazette;</p></content></level><level class="para2"><num>(iii)</num><content><p>in either case, if the court so orders, on the registration of the order and statement of capital;</p></content></level></level></quotedStructure><inline name="appendText">;</inline></mod></p></content></level><level class="para1" eId="schedule-9-paragraph-33-9-c"><num>(c)</num><content><p><mod>in paragraph (b), for “any other case” substitute <quotedText>“
any case not falling within paragraph (a) or (aa)
”</quotedText>.</mod></p></content></level></subparagraph></paragraph><paragraph eId="schedule-9-paragraph-34" class="schProv1"><num>34</num><content><p><mod>In section 681 (unconditional exceptions to prohibition against financial assistance), in subsection (2)(e), after “Part 26” insert <quotedText>“
or 26A
”</quotedText>.</mod></p></content></paragraph><paragraph eId="schedule-9-paragraph-35" class="schProv1"><num>35</num><subparagraph eId="schedule-9-paragraph-35-1"><num>(1)</num><content><p>Part 26 (arrangements and reconstructions) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-9-paragraph-35-2"><num>(2)</num><content><p><mod>The heading becomes <quotedText>“
<inline name="smallCaps">Arrangements and reconstructions: general</inline>
”</quotedText>.</mod></p></content></subparagraph><subparagraph eId="schedule-9-paragraph-35-3"><num>(3)</num><content><p><mod>In section 896, at the end insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="default"><subsection><num>(4)</num><content><p>This section is subject to section 899A (moratorium debts, etc).</p></content></subsection></quotedStructure></mod></p></content></subparagraph><subparagraph eId="schedule-9-paragraph-35-4"><num>(4)</num><intro><p>In section 899 (court sanction for compromise or arrangement)—</p></intro><level class="para1" eId="schedule-9-paragraph-35-4-a"><num>(a)</num><content><p><mod>after subsection (1) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="default"><subsection><num>(1A)</num><content><p>Subsection (1) is subject to section 899A (moratorium debts, etc).</p></content></subsection></quotedStructure><inline name="appendText">;</inline></mod></p></content></level><level class="para1" eId="schedule-9-paragraph-35-4-b"><num>(b)</num><content><p>omit subsection (5).</p></content></level></subparagraph><subparagraph eId="schedule-9-paragraph-35-5"><num>(5)</num><content><p><mod>After section 899 insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="default"><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Special cases</i></heading><section><num>899A</num><heading>Moratorium debts, etc</heading><subsection><num>(1)</num><intro><p>This section applies where—</p></intro><level class="para1"><num>(a)</num><content><p>an application under section 896 in respect of a compromise or arrangement is made before the end of the period of 12 weeks beginning with the day after the end of any moratorium for the company under Part A1 of the Insolvency Act 1986 or Part 1A of the Insolvency (Northern Ireland) Order 1989 (S.I. 1989/2405 (N.I. 19)), and</p></content></level><level class="para1"><num>(b)</num><content><p>the creditors with whom the compromise or arrangement is proposed include any relevant creditors (see subsection (2)).</p></content></level></subsection><subsection><num>(2)</num><intro><p>In this section “<term refersTo="#term-relevant-creditor">relevant creditor</term>” means—</p></intro><level class="para1"><num>(a)</num><content><p>a creditor in respect of a moratorium debt, or</p></content></level><level class="para1"><num>(b)</num><content><p>a creditor in respect of a priority pre-moratorium debt.</p></content></level></subsection><subsection><num>(3)</num><content><p>The relevant creditors may not participate in the meeting summoned under section 896.</p></content></subsection><subsection><num>(4)</num><intro><p>For the purposes of section 897 (statement to be circulated or made available)—</p></intro><level class="para1"><num>(a)</num><content><p>the requirement in section 897(1)(a) is to be read as including a requirement to send each relevant creditor a statement complying with section 897;</p></content></level><level class="para1"><num>(b)</num><content><p>any reference to creditors entitled to attend the meeting summoned under section 896 includes a reference to relevant creditors.</p></content></level></subsection><subsection><num>(5)</num><content><p>The court may not sanction the compromise or arrangement under section 899 if it includes provision in respect of any relevant creditor who has not agreed to it.</p></content></subsection><subsection><num>(6)</num><content><p>In this section—</p><blockList class="unordered none" ukl:Name="UnorderedList" ukl:Decoration="none"><item><p>“moratorium debt”—</p><blockList class="ordered alpha parens" ukl:Name="OrderedList" ukl:Type="alpha" ukl:Decoration="parens"><item><num>(a)</num><p>in the case of a moratorium under Part A1 of the Insolvency Act 1986, has the same meaning as in section 174A of that Act;</p></item><item><num>(b)</num><p>in the case of a moratorium under Part 1A of the Insolvency (Northern Ireland) Order 1989, has the same meaning as in Article 148A of that Order;</p></item></blockList></item><item><p>“priority pre-moratorium debt”—</p><blockList class="ordered alpha parens" ukl:Name="OrderedList" ukl:Type="alpha" ukl:Decoration="parens"><item><num>(a)</num><p>in the case of a moratorium under Part A1 of the Insolvency Act 1986, has the same meaning as in section 174A of that Act;</p></item><item><num>(b)</num><p>in the case of a moratorium under Part 1A of the Insolvency (Northern Ireland) Order 1989, has the same meaning as in Article 148A of that Order.</p></item></blockList></item></blockList></content></subsection></section></hcontainer></quotedStructure></mod></p></content></subparagraph></paragraph><paragraph eId="schedule-9-paragraph-36" class="schProv1"><num>36</num><subparagraph eId="schedule-9-paragraph-36-1"><num>(1)</num><content><p>Part 27 (mergers and divisions of public companies) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-9-paragraph-36-2"><num>(2)</num><intro><p>In section 903 (relationship of Part 27 to Part 26)—</p></intro><level class="para1" eId="schedule-9-paragraph-36-2-a"><num>(a)</num><content><p><mod>in the heading, for “<b>Part 26</b>” substitute <quotedText>“
<b>Parts 26 and 26A</b>
”</quotedText>;</mod></p></content></level><level class="para1" eId="schedule-9-paragraph-36-2-b"><num>(b)</num><content><p><mod>in subsection (1), for “Part 26 (arrangements and reconstructions)” substitute <quotedText>“
Part 26 (arrangements and reconstructions: general) or Part 26A (arrangements and reconstructions: companies in financial difficulty)
”</quotedText>;</mod></p></content></level><level class="para1" eId="schedule-9-paragraph-36-2-c"><num>(c)</num><content><p><mod>in subsections (2) and (3), for “Part 26” substitute <quotedText>“
Parts 26 and 26A
”</quotedText>.</mod></p></content></level></subparagraph><subparagraph eId="schedule-9-paragraph-36-3"><num>(3)</num><content><p><mod>In section 907 (approval of members of merging companies), in subsection (2), after “917” insert <quotedText>“
, 917A
”</quotedText>.</mod></p></content></subparagraph><subparagraph eId="schedule-9-paragraph-36-4"><num>(4)</num><intro><p>In section 908 (directors' explanatory report (merger))—</p></intro><level class="para1" eId="schedule-9-paragraph-36-4-a"><num>(a)</num><content><p><mod>in subsection (2), for paragraph (a) (but not the “and” following it) substitute—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="default"><level class="para1"><num>(a)</num><content><p>the required statement explaining the effect of the compromise or arrangement,</p></content></level></quotedStructure><inline name="appendText">;</inline></mod></p></content></level><level class="para1" eId="schedule-9-paragraph-36-4-b"><num>(b)</num><content><p><mod>after that subsection insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="default"><subsection><num>(2A)</num><intro><p>In subsection (2) “<term refersTo="#term-the-required-statement-explaining-the-effect-of-the-compromise-or-arrangement">the required statement explaining the effect of the compromise or arrangement</term>” means—</p></intro><level class="para1"><num>(a)</num><content><p>in a case where a meeting is summoned under section 896 in relation to the compromise or arrangement, the statement required by section 897;</p></content></level><level class="para1"><num>(b)</num><content><p>in a case where a meeting is summoned under section 901C in relation to the compromise or arrangement, the statement required by section 901D.</p></content></level></subsection></quotedStructure></mod></p></content></level></subparagraph><subparagraph eId="schedule-9-paragraph-36-5"><num>(5)</num><intro><p>In section 912 (approval of articles of new transferee company (merger))—</p></intro><level class="para1" eId="schedule-9-paragraph-36-5-a"><num>(a)</num><content><p>the wording of the section becomes subsection (1) of that section;</p></content></level><level class="para1" eId="schedule-9-paragraph-36-5-b"><num>(b)</num><content><p><mod>at the end of that subsection insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="default"><p>This is subject to subsection (2).</p></quotedStructure><inline name="appendText">;</inline></mod></p></content></level><level class="para1" eId="schedule-9-paragraph-36-5-c"><num>(c)</num><content><p><mod>after that subsection insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="default"><subsection><num>(2)</num><content><p>In the case of a compromise or arrangement to be sanctioned under Part 26A, it is not necessary for the articles of the transferee company (or a draft of them) to be approved by ordinary resolution of the company in respect of which the compromise or arrangement is proposed.</p></content></subsection></quotedStructure></mod></p></content></level></subparagraph><subparagraph eId="schedule-9-paragraph-36-6"><num>(6)</num><intro><p>In section 915 (circumstances in which certain particulars and reports not required (merger))—</p></intro><level class="para1" eId="schedule-9-paragraph-36-6-a"><num>(a)</num><content><p><mod>in subsection (3), for “Section 897” substitute <quotedText>“
In a case where a meeting has been summoned under section 896 in relation to the compromise or arrangement, section 897
”</quotedText>;</mod></p></content></level><level class="para1" eId="schedule-9-paragraph-36-6-b"><num>(b)</num><content><p><mod>after that subsection insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="default"><subsection><num>(3A)</num><content><p>In a case where a meeting has been summoned under section 901C in relation to the compromise or arrangement, section 901D (explanatory statement to be circulated or made available) does not apply.</p></content></subsection></quotedStructure></mod></p></content></level></subparagraph><subparagraph eId="schedule-9-paragraph-36-7"><num>(7)</num><content><p><mod>In section 915A (other circumstances in which reports and inspection not required (merger)), in subsection (5), after “section 900(2)” insert <quotedText>“
or, as the case may be, section 901J(2)
”</quotedText>.</mod></p></content></subparagraph><subparagraph eId="schedule-9-paragraph-36-8"><num>(8)</num><content><p><mod>Before section 918 (but after the heading “<i>Other exceptions</i>”) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="unknown" uk:docName="unknown" ukl:TargetClass="unknown" ukl:TargetSubClass="unknown" ukl:Context="unknown" ukl:Format="default"><section><num>917A</num><heading>Other circumstances in which meeting of members of transferor company not required (merger)</heading><content><p>In the case of a compromise or arrangement to be sanctioned under Part 26A, it is not necessary for the scheme to be approved by the members of the company in respect of which the compromise or arrangement is proposed.</p></content></section></quotedStructure></mod></p></content></subparagraph><subparagraph eId="schedule-9-paragraph-36-9"><num>(9)</num><intro><p>In section 918A (agreement to dispense with reports etc (merger))—</p></intro><level class="para1" eId="schedule-9-paragraph-36-9-a"><num>(a)</num><content><p><mod>in subsection (2), for “the application to the court under section 896” substitute <quotedText>“
the relevant application
”</quotedText>;</mod></p></content></level><level class="para1" eId="schedule-9-paragraph-36-9-b"><num>(b)</num><content><p><mod>after that subsection insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="default"><subsection><num>(3)</num><intro><p>In subsection (2) “<term refersTo="#term-the-relevant-application">the relevant application</term>” means—</p></intro><level class="para1"><num>(a)</num><content><p>in the case of a compromise or arrangement to be sanctioned under Part 26, the application to the court under section 896;</p></content></level><level class="para1"><num>(b)</num><content><p>in the case of a compromise or arrangement to be sanctioned under Part 26A, the application to the court under section 901C(1).</p></content></level></subsection></quotedStructure></mod></p></content></level></subparagraph><subparagraph eId="schedule-9-paragraph-36-10"><num>(10)</num><intro><p>In section 922 (approval of members of companies involved in the division)—</p></intro><level class="para1" eId="schedule-9-paragraph-36-10-a"><num>(a)</num><content><p><mod>in subsection (1), for “compromise or arrangement” substitute <quotedText>“
scheme
”</quotedText>;</mod></p></content></level><level class="para1" eId="schedule-9-paragraph-36-10-b"><num>(b)</num><content><p><mod>in subsection (2), after “931” insert <quotedText>“
, 931A
”</quotedText>.</mod></p></content></level></subparagraph><subparagraph eId="schedule-9-paragraph-36-11"><num>(11)</num><intro><p>In section 923 (directors' explanatory report (division))—</p></intro><level class="para1" eId="schedule-9-paragraph-36-11-a"><num>(a)</num><content><p><mod>in subsection (2), for paragraph (a) (but not the “and” following it) substitute—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="default"><level class="para1"><num>(a)</num><content><p>the required statement explaining the effect of the compromise or arrangement,</p></content></level></quotedStructure><inline name="appendText">;</inline></mod></p></content></level><level class="para1" eId="schedule-9-paragraph-36-11-b"><num>(b)</num><content><p><mod>after that subsection insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="default"><subsection><num>(2A)</num><intro><p>In subsection (2) “<term refersTo="#term-the-required-statement-explaining-the-effect-of-the-compromise-or-arrangement">the required statement explaining the effect of the compromise or arrangement</term>” means—</p></intro><level class="para1"><num>(a)</num><content><p>in a case where a meeting is summoned under section 896 in relation to the compromise or arrangement, the statement required by section 897;</p></content></level><level class="para1"><num>(b)</num><content><p>in a case where a meeting is summoned under section 901C in relation to the compromise or arrangement, the statement required by section 901D.</p></content></level></subsection></quotedStructure></mod></p></content></level></subparagraph><subparagraph eId="schedule-9-paragraph-36-12"><num>(12)</num><content><p><mod>In section 925 (supplementary accounting statement (division)), in subsection (1)(b), after “931” insert <quotedText>“
, 931A
”</quotedText>.</mod></p></content></subparagraph><subparagraph eId="schedule-9-paragraph-36-13"><num>(13)</num><intro><p>In section 928 (approval of articles of new transferee company (division))—</p></intro><level class="para1" eId="schedule-9-paragraph-36-13-a"><num>(a)</num><content><p>the wording of the section becomes subsection (1) of that section;</p></content></level><level class="para1" eId="schedule-9-paragraph-36-13-b"><num>(b)</num><content><p><mod>after that subsection insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="default"><subsection><num>(2)</num><content><p>Subsection (1) does not apply in the case of a compromise or arrangement to be sanctioned under Part 26A.</p></content></subsection></quotedStructure></mod></p></content></level></subparagraph><subparagraph eId="schedule-9-paragraph-36-14"><num>(14)</num><content><p><mod>Before section 932 (but after the heading “<i>Other exceptions</i>”) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="unknown" uk:docName="unknown" ukl:TargetClass="unknown" ukl:TargetSubClass="unknown" ukl:Context="unknown" ukl:Format="default"><section><num>931A</num><heading>Other circumstances in which meeting of members of transferor company not required (division)</heading><content><p>In the case of a compromise or arrangement to be sanctioned under Part 26A, it is not necessary for the scheme to be approved by the members of the transferor company.</p></content></section></quotedStructure></mod></p></content></subparagraph><subparagraph eId="schedule-9-paragraph-36-15"><num>(15)</num><intro><p>In section 933 (agreement to dispense with reports etc (division))—</p></intro><level class="para1" eId="schedule-9-paragraph-36-15-a"><num>(a)</num><content><p><mod>in subsection (3), for “the application to the court under section 896” substitute <quotedText>“
the relevant application
”</quotedText>;</mod></p></content></level><level class="para1" eId="schedule-9-paragraph-36-15-b"><num>(b)</num><content><p><mod>after that subsection insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="default"><subsection><num>(4)</num><intro><p>In subsection (3) “<term refersTo="#term-the-relevant-application">the relevant application</term>” means—</p></intro><level class="para1"><num>(a)</num><content><p>in the case of a compromise or arrangement to be sanctioned under Part 26, the application to the court under section 896;</p></content></level><level class="para1"><num>(b)</num><content><p>in the case of a compromise or arrangement to be sanctioned under Part 26A, the application to the court under section 901C(1).</p></content></level></subsection></quotedStructure></mod></p></content></level></subparagraph><subparagraph eId="schedule-9-paragraph-36-16"><num>(16)</num><content><p><mod>In section 939 (court to fix date for transfer of undertaking etc of transferor company), in subsection (1)(b), after “section 900” insert <quotedText>“
or, as the case may be, section 901J
”</quotedText>.</mod></p></content></subparagraph><subparagraph eId="schedule-9-paragraph-36-17"><num>(17)</num><intro><p>In section 940 (liability of transferee companies for each other's defaults)—</p></intro><level class="para1" eId="schedule-9-paragraph-36-17-a"><num>(a)</num><content><p><mod>in subsection (2), after “If” insert <quotedText>“
, in the case of a compromise or arrangement to be sanctioned under Part 26,
”</quotedText>;</mod></p></content></level><level class="para1" eId="schedule-9-paragraph-36-17-b"><num>(b)</num><content><p><mod>after that subsection insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="default"><subsection><num>(2A)</num><content><p>If, in the case of a compromise or arrangement to be sanctioned under Part 26A, a number representing 75% in value of the creditors or any class of creditors of the transferor company, present and voting either in person or by proxy at a meeting summoned for the purposes of agreeing to the scheme, so agree, subsection (1) does not apply in relation to the liabilities owed to the creditors or that class of creditors.</p></content></subsection></quotedStructure></mod></p></content></level></subparagraph></paragraph><paragraph eId="schedule-9-paragraph-37" class="schProv1"><num>37</num><subparagraph eId="schedule-9-paragraph-37-1"><num>(1)</num><content><p>In Part 31 (dissolution and restoration to the register), Chapter 1 (striking off) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-9-paragraph-37-2"><num>(2)</num><content><p><mod>In section 1005 (circumstances in which application for voluntary striking off may not be made: other proceedings not concluded), in subsection (1)(a), after “Part 26” insert <quotedText>“
or 26A
”</quotedText>.</mod></p></content></subparagraph><subparagraph eId="schedule-9-paragraph-37-3"><num>(3)</num><content><p><mod>In section 1009 (circumstances in which application for voluntary striking off to be withdrawn), in subsection (1)(b), after “Part 26” insert <quotedText>“
or 26A
”</quotedText>.</mod></p></content></subparagraph></paragraph><paragraph eId="schedule-9-paragraph-38" class="schProv1"><num>38</num><content><p><mod>In section 1078 (documents subject to disclosure requirements), in subsection (3), for “section 899 or 900” substitute <quotedText>“
section 899, 900, 901F or 901J
”</quotedText>.</mod></p></content></paragraph><paragraph eId="schedule-9-paragraph-39" class="schProv1"><num>39</num><subparagraph eId="schedule-9-paragraph-39-1"><num>(1)</num><content><p>Schedule 8 (index of defined expressions) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-9-paragraph-39-2"><num>(2)</num><content><p><mod>In the entry for “arrangement”, after the entry for Part 26 insert—<quotedStructure startQuote="“" endQuote="”" uk:context="unknown" uk:docName="unknown" ukl:TargetClass="unknown" ukl:TargetSubClass="unknown" ukl:Context="unknown" ukl:Format="default"><tblock class="table" ukl:Orientation="portrait"><foreign><default:table xmlns="http://www.w3.org/1999/xhtml"><default:colgroup><default:col style="width:50%"/><default:col style="width:50%"/></default:colgroup><default:tbody><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">—in Part 26A</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">section 901A(4)</p></default:td></default:tr></default:tbody></default:table></foreign></tblock></quotedStructure><inline name="appendText">.</inline></mod></p></content></subparagraph><subparagraph eId="schedule-9-paragraph-39-3"><num>(3)</num><content><p><mod>In the entry for “company”, after the entry for Part 26 insert—<quotedStructure startQuote="“" endQuote="”" uk:context="unknown" uk:docName="unknown" ukl:TargetClass="unknown" ukl:TargetSubClass="unknown" ukl:Context="unknown" ukl:Format="default"><tblock class="table" ukl:Orientation="portrait"><foreign><default:table xmlns="http://www.w3.org/1999/xhtml"><default:colgroup><default:col style="width:50%"/><default:col style="width:50%"/></default:colgroup><default:tbody><default:tr><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">—in Part 26A</p></default:td><default:td><p xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0">section 901A(4)</p></default:td></default:tr></default:tbody></default:table></foreign></tblock></quotedStructure><inline name="appendText">.</inline></mod></p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-9-part-2-crossheading-housing-and-regeneration-act-2008"><heading><i>Housing and Regeneration Act 2008</i></heading><paragraph eId="schedule-9-paragraph-40" class="schProv1"><num>40</num><content><p><mod>In Part 2 of the Housing and Regeneration Act 2008 (regulation of social housing), in section 160 (company: arrangements and reconstructions), at the end insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="default"><subsection><num>(7)</num><content><p>The registered provider must notify the regulator of any order under section 901F of the Companies Act 2006 (court sanction for compromise or arrangement).</p></content></subsection><subsection><num>(8)</num><content><p>An order under section 901F of the Companies Act 2006 does not take effect until the registered provider has confirmed to the registrar of companies that the regulator has been notified.</p></content></subsection><subsection><num>(9)</num><content><p>The registered provider must notify the regulator of any order under section 901J of the Companies Act 2006 (powers of court to facilitate reconstruction or amalgamation).</p></content></subsection><subsection><num>(10)</num><content><p>The requirement in section 901J(6) of the Companies Act 2006 (sending copy of order to registrar) is satisfied only if the copy is accompanied by confirmation that the regulator has been notified.</p></content></subsection></quotedStructure></mod></p></content></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-9-part-2-crossheading-corporation-tax-act-2009"><heading><i>Corporation Tax Act 2009</i></heading><paragraph eId="schedule-9-paragraph-41" class="schProv1"><num>41</num><content><p><mod>In section 1319 of the Corporation Tax Act 2009 (other definitions), in paragraph (b) of the definition of “statutory insolvency arrangement”, after “Part 26” insert <quotedText>“
or 26A
”</quotedText>.</mod></p></content></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-9-part-2-crossheading-corporation-tax-act-2010"><heading><i>Corporation Tax Act 2010</i></heading><paragraph eId="schedule-9-paragraph-42" class="schProv1"><num>42</num><content><p>The Corporation Tax Act 2010 is amended as follows.</p></content></paragraph><paragraph eId="schedule-9-paragraph-43" class="schProv1"><num>43</num><subparagraph eId="schedule-9-paragraph-43-1"><num>(1)</num><content><p>Part 7ZA (restrictions on obtaining certain deductions) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-9-paragraph-43-2"><num>(2)</num><content><p><mod>In section 269ZH (meaning of “insolvency procedures”), in subsection (5)(a), after “Part 26” insert <quotedText>“
or 26A
”</quotedText>.</mod></p></content></subparagraph><subparagraph eId="schedule-9-paragraph-43-3"><num>(3)</num><content><p><mod>In section 269ZY (meaning of “relevant reversal credit”), in subsection (8)(b), after “Part 26” insert <quotedText>“
or 26A
”</quotedText>.</mod></p></content></subparagraph></paragraph><paragraph eId="schedule-9-paragraph-44" class="schProv1"><num>44</num><content><p><mod>In Part 14 (change in company ownership), in section 724A (disregard of change in parent company), in subsection (7)(a), after “Part 26” insert <quotedText>“
or 26A
”</quotedText>.</mod></p></content></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-9-part-2-crossheading-third-parties-rights-against-insurers-act-2010"><heading><i>Third Parties (Rights against Insurers) Act 2010</i></heading><paragraph eId="schedule-9-paragraph-45" class="schProv1"><num>45</num><content><p><mod>In section 6 of the Third Parties (Rights against Insurers) Act 2010 (corporate bodies etc), in subsection (1), after “section 899” insert <quotedText>“
or 901F
”</quotedText>.</mod></p></content></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-9-part-2-crossheading-housing-scotland-act-2010-asp-17"><heading><i>Housing (Scotland) Act 2010 (asp 17)</i></heading><paragraph eId="schedule-9-paragraph-46" class="schProv1"><num>46</num><content><p>Part 8 of the Housing (Scotland) Act 2010 (registered social landlords: organisational change etc) is amended as follows.</p></content></paragraph><paragraph eId="schedule-9-paragraph-47" class="schProv1"><num>47</num><subparagraph eId="schedule-9-paragraph-47-1"><num>(1)</num><content><p>Section 100A (restructuring by company: proposed restructuring) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-9-paragraph-47-2"><num>(2)</num><intro><p>In subsection (1)—</p></intro><level class="para1" eId="schedule-9-paragraph-47-2-a"><num>(a)</num><content><p><mod>for “This section applies” substitute <quotedText>“
Subsections (2) and (3) apply
”</quotedText>;</mod></p></content></level><level class="para1" eId="schedule-9-paragraph-47-2-b"><num>(b)</num><content><p>omit the “and” after paragraph (b);</p></content></level><level class="para1" eId="schedule-9-paragraph-47-2-c"><num>(c)</num><content><p><mod>for paragraph (c) substitute—<quotedStructure startQuote="“" endQuote="”" uk:context="unknown" uk:docName="unknown" ukl:TargetClass="unknown" ukl:TargetSubClass="unknown" ukl:Context="unknown" ukl:Format="default"><level class="para1"><num>(c)</num><content><p>the restructuring will result in a tenant under a Scottish secure tenancy ceasing to be a tenant of the company in respect of which the order is made, and</p></content></level><level class="para1"><num>(d)</num><content><p>the company is not being wound up and is not in administration.</p></content></level></quotedStructure></mod></p></content></level></subparagraph><subparagraph eId="schedule-9-paragraph-47-3"><num>(3)</num><content><p><mod>In subsection (3), for “this section” substitute <quotedText>“
this subsection
”</quotedText>.</mod></p></content></subparagraph><subparagraph eId="schedule-9-paragraph-47-4"><num>(4)</num><content><p><mod>After subsection (3) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="default"><subsection><num>(4)</num><intro><p>Subsections (5) and (6) apply where—</p></intro><level class="para1"><num>(a)</num><content><p>a court order is made in respect of the company under section 901C(1) of the Companies Act 2006,</p></content></level><level class="para1"><num>(b)</num><content><p>the meeting summoned by the court order is to agree a restructuring of a type mentioned in section 901J(1) of that Act,</p></content></level><level class="para1"><num>(c)</num><content><p>the restructuring will result in a tenant under a Scottish secure tenancy ceasing to be a tenant of the company in respect of which the order is made, and</p></content></level><level class="para1"><num>(d)</num><content><p>the company is not being wound up and is not in administration.</p></content></level></subsection><subsection><num>(5)</num><content><p>The company must comply with sections 115 to 120 (as applied by subsection (6)) in relation to the proposed restructuring.</p></content></subsection><subsection><num>(6)</num><content><p><mod>Sections 115 to 120 apply in relation to a proposed restructuring to which this subsection applies as they apply in relation to a proposed disposal to which section 107(4) applies, subject to the modification that section 115A(2) has effect as if, for paragraph (b), there were substituted—<quotedStructure startQuote="“" endQuote="”" uk:context="unknown" uk:docName="unknown" ukl:TargetClass="unknown" ukl:TargetSubClass="unknown" ukl:Context="unknown" ukl:Format="default"><level class="para1"><num>(b)</num><content><p>before the meeting summoned by the court order under section 901C of the Companies Act 2006 takes place,</p></content></level></quotedStructure></mod></p></content></subsection></quotedStructure><inline name="appendText">.</inline></mod></p></content></subparagraph></paragraph><paragraph eId="schedule-9-paragraph-48" class="schProv1"><num>48</num><subparagraph eId="schedule-9-paragraph-48-1"><num>(1)</num><content><p>Section 101 (restructuring of company) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-9-paragraph-48-2"><num>(2)</num><content><p><mod>After subsection (1) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="default"><subsection><num>(1A)</num><intro><p>This section also applies where—</p></intro><level class="para1"><num>(a)</num><content><p>a court order is made in respect of a company under section 901F or 901J of the Companies Act 2006, and</p></content></level><level class="para1"><num>(b)</num><content><p>the restructuring to which the order relates is of a type mentioned in section 901J(1) of that Act.</p></content></level></subsection></quotedStructure></mod></p></content></subparagraph><subparagraph eId="schedule-9-paragraph-48-3"><num>(3)</num><intro><p>In subsection (2)—</p></intro><level class="para1" eId="schedule-9-paragraph-48-3-a"><num>(a)</num><content><p><mod>after “subsection (1)” insert <quotedText>“
or (1A)
”</quotedText>;</mod></p></content></level><level class="para1" eId="schedule-9-paragraph-48-3-b"><num>(b)</num><content><p><mod>in paragraph (b), after “section 900(6)” insert <quotedText>“
or (as the case may be) section 901J(6)
”</quotedText>.</mod></p></content></level></subparagraph><subparagraph eId="schedule-9-paragraph-48-4"><num>(4)</num><content><p><mod>In subsection (3)(a), after “section 100A(3)” insert <quotedText>“
or (6) (as the case may be)
”</quotedText>.</mod></p></content></subparagraph><subparagraph eId="schedule-9-paragraph-48-5"><num>(5)</num><content><p><mod>In subsection (5), after “section 900” insert <quotedText>“
or 901J
”</quotedText>.</mod></p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-9-part-2-crossheading-financial-services-banking-reform-act-2013"><heading><i>Financial Services (Banking Reform) Act 2013</i></heading><paragraph eId="schedule-9-paragraph-49" class="schProv1"><num>49</num><subparagraph eId="schedule-9-paragraph-49-1"><num>(1)</num><content><p>Part 6 of the Financial Services (Banking Reform) Act 2013 (special administration for operators of certain infrastructure systems) is amended as follows.</p></content></subparagraph><subparagraph eId="schedule-9-paragraph-49-2"><num>(2)</num><intro><p>In section 111 (financial market infrastructure administration)—</p></intro><level class="para1" eId="schedule-9-paragraph-49-2-a"><num>(a)</num><content><p>omit the “and” after paragraph (a), and</p></content></level><level class="para1" eId="schedule-9-paragraph-49-2-b"><num>(b)</num><content><p><mod>after paragraph (b) insert<quotedText startQuote="“">, and
</quotedText><quotedStructure endQuote="”" uk:context="unknown" uk:docName="unknown" ukl:TargetClass="unknown" ukl:TargetSubClass="unknown" ukl:Context="unknown" ukl:Format="default"><level class="para1"><num>(c)</num><content><p>confers power on the Bank of England to participate in proceedings under Part 26A of the Companies Act 2006 (arrangements and reconstructions: companies in financial difficulty).</p></content></level></quotedStructure></mod></p></content></level></subparagraph><subparagraph eId="schedule-9-paragraph-49-3"><num>(3)</num><content><p><mod>After section 124 insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="default"><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Powers to participate in Part 26A proceedings</i></heading><section><num>124A</num><heading>Powers of Bank to participate in Part 26A proceedings</heading><subsection><num>(1)</num><content><p>This section applies where Part 26A of the Companies Act 2006 (“<term refersTo="#term-the-2006-act">the 2006 Act</term>”) (arrangements and reconstructions: companies in financial difficulty) applies in relation to an infrastructure company.</p></content></subsection><subsection><num>(2)</num><intro><p>A relevant applicant must give notice to the Bank of England of—</p></intro><level class="para1"><num>(a)</num><content><p>any application which the relevant applicant intends to make under section 901C(1) of the 2006 Act, and</p></content></level><level class="para1"><num>(b)</num><content><p>any application which the relevant applicant believes a creditor or member of the company has made, or intends to make, under section 901C(1) of that Act in relation to the company.</p></content></level></subsection><subsection><num>(3)</num><content><p>A relevant applicant may not make an application under section 901C(1) of the 2006 Act in relation to the company without the consent of the Bank of England.</p></content></subsection><subsection><num>(4)</num><intro><p>In this section “<term refersTo="#term-relevant-applicant">relevant applicant</term>”, in relation to a company, means—</p></intro><level class="para1"><num>(a)</num><content><p>the company;</p></content></level><level class="para1"><num>(b)</num><content><p>if the company is being wound up, the liquidator;</p></content></level><level class="para1"><num>(c)</num><content><p>if the company is in administration, the administrator.</p></content></level></subsection><subsection><num>(5)</num><content><p>The Bank of England is entitled to be heard at any hearing of an application made under section 901C or 901F of the 2006 Act in relation to the company.</p></content></subsection><subsection><num>(6)</num><content><p>Any notice or other document required to be sent to a creditor of the company must also be sent to the Bank of England.</p></content></subsection><subsection><num>(7)</num><intro><p>A person appointed for the purpose by the Bank of England is entitled—</p></intro><level class="para1"><num>(a)</num><content><p>to attend any meeting of creditors of the company summoned under section 901C of the 2006 Act;</p></content></level><level class="para1"><num>(b)</num><content><p>to make representations as to any matter for decision at such a meeting.</p></content></level></subsection><subsection><num>(8)</num><content><p>Sections 197, 198 and 202A of the Banking Act 2009, and sections 201 and 202 of that Act, so far as relating to those sections, apply in relation to a failure by an infrastructure company to comply with subsection (2) or (3) above as they apply in relation to a compliance failure within the meaning of Part 5 of that Act.</p></content></subsection></section></hcontainer></quotedStructure></mod></p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-9-part-2-crossheading-cooperative-and-community-benefit-societies-act-2014"><heading><i>Co-operative and Community Benefit Societies Act 2014</i></heading><paragraph eId="schedule-9-paragraph-50" class="schProv1"><num>50</num><content><p><mod>In section 118 of the Co-operative and Community Benefit Societies Act 2014 (power to apply provisions about company arrangements and administration in relation to registered societies), in subsection (2), after paragraph (c) insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="ukpga" ukl:TargetClass="primary" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="default"><level class="para1"><num>(d)</num><content><p>Part 26A of that Act (compromise or arrangement with creditors where company in financial difficulty).</p></content></level></quotedStructure></mod></p></content></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-9-part-2-crossheading-mutuals-deferred-shares-act-2015"><heading><i>Mutuals' Deferred Shares Act 2015</i></heading><paragraph eId="schedule-9-paragraph-51" class="schProv1"><num>51</num><content><p><mod>In section 2 of the Mutuals' Deferred Shares Act 2015 (restriction on voting rights), in subsection (2)(b), after “section 896” insert <quotedText>“
or 901C
”</quotedText>.</mod></p></content></paragraph></hcontainer></part></hcontainer><hcontainer name="schedule" eId="schedule-10"><num><ins class="substitution first" ukl:ChangeId="key-4e4feb4bf65476512c139e62c1964626-1646754243087" ukl:CommentaryRef="key-4e4feb4bf65476512c139e62c1964626"><noteRef uk:name="commentary" href="#key-4e4feb4bf65476512c139e62c1964626" class="commentary"/>SCHEDULE 10</ins><authorialNote class="referenceNote"><p><ins class="substitution" ukl:ChangeId="key-4e4feb4bf65476512c139e62c1964626-1646754243087" ukl:CommentaryRef="key-4e4feb4bf65476512c139e62c1964626">
Section 10</ins></p></authorialNote></num><heading><ins class="substitution" ukl:ChangeId="key-4e4feb4bf65476512c139e62c1964626-1646754243087" ukl:CommentaryRef="key-4e4feb4bf65476512c139e62c1964626">Restriction on Winding-Up Petitions: Great Britain</ins></heading><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-10-crossheading-restriction-on-windingup-petitions"><heading><ins class="substitution" ukl:ChangeId="key-4e4feb4bf65476512c139e62c1964626-1646754243087" ukl:CommentaryRef="key-4e4feb4bf65476512c139e62c1964626">Restriction on winding-up petitions</ins></heading><paragraph eId="schedule-10-paragraph-1" class="schProv1"><num><ins class="substitution" ukl:ChangeId="key-4e4feb4bf65476512c139e62c1964626-1646754243087" ukl:CommentaryRef="key-4e4feb4bf65476512c139e62c1964626">1.</ins></num><subparagraph eId="schedule-10-paragraph-1-1"><num><ins class="substitution" ukl:ChangeId="key-4e4feb4bf65476512c139e62c1964626-1646754243087" ukl:CommentaryRef="key-4e4feb4bf65476512c139e62c1964626">(1)</ins></num><intro><p><ins class="substitution" ukl:ChangeId="key-4e4feb4bf65476512c139e62c1964626-1646754243087" ukl:CommentaryRef="key-4e4feb4bf65476512c139e62c1964626">During the relevant period a creditor may not present a petition for the winding up of a company under section 124 of the 1986 Act on the ground specified—</ins></p></intro><level class="para1" eId="schedule-10-paragraph-1-1-a"><num><ins class="substitution" ukl:ChangeId="key-4e4feb4bf65476512c139e62c1964626-1646754243087" ukl:CommentaryRef="key-4e4feb4bf65476512c139e62c1964626">(a)</ins></num><content><p><ins class="substitution" ukl:ChangeId="key-4e4feb4bf65476512c139e62c1964626-1646754243087" ukl:CommentaryRef="key-4e4feb4bf65476512c139e62c1964626">in the case of a registered company, in section 122(1)(f) of that Act, or</ins></p></content></level><level class="para1" eId="schedule-10-paragraph-1-1-b"><num><ins class="substitution" ukl:ChangeId="key-4e4feb4bf65476512c139e62c1964626-1646754243087" ukl:CommentaryRef="key-4e4feb4bf65476512c139e62c1964626">(b)</ins></num><content><p><ins class="substitution" ukl:ChangeId="key-4e4feb4bf65476512c139e62c1964626-1646754243087" ukl:CommentaryRef="key-4e4feb4bf65476512c139e62c1964626">in the case of an unregistered company, in section 221(5)(b) of that Act,</ins></p></content></level><wrapUp><p><ins class="substitution" ukl:ChangeId="key-4e4feb4bf65476512c139e62c1964626-1646754243087" ukl:CommentaryRef="key-4e4feb4bf65476512c139e62c1964626">unless conditions A to D are met (subject to sub-paragraphs (9) to (11)).</ins></p></wrapUp></subparagraph><subparagraph eId="schedule-10-paragraph-1-2"><num><ins class="substitution" ukl:ChangeId="key-4e4feb4bf65476512c139e62c1964626-1646754243087" ukl:CommentaryRef="key-4e4feb4bf65476512c139e62c1964626">(2)</ins></num><intro><p><ins class="substitution" ukl:ChangeId="key-4e4feb4bf65476512c139e62c1964626-1646754243087" ukl:CommentaryRef="key-4e4feb4bf65476512c139e62c1964626">Condition A is that the creditor is owed a debt by the company—</ins></p></intro><level class="para1" eId="schedule-10-paragraph-1-2-a"><num><ins class="substitution" ukl:ChangeId="key-4e4feb4bf65476512c139e62c1964626-1646754243087" ukl:CommentaryRef="key-4e4feb4bf65476512c139e62c1964626">(a)</ins></num><content><p><ins class="substitution" ukl:ChangeId="key-4e4feb4bf65476512c139e62c1964626-1646754243087" ukl:CommentaryRef="key-4e4feb4bf65476512c139e62c1964626">whose amount is liquidated,</ins></p></content></level><level class="para1" eId="schedule-10-paragraph-1-2-b"><num><ins class="substitution" ukl:ChangeId="key-4e4feb4bf65476512c139e62c1964626-1646754243087" ukl:CommentaryRef="key-4e4feb4bf65476512c139e62c1964626">(b)</ins></num><content><p><ins class="substitution" ukl:ChangeId="key-4e4feb4bf65476512c139e62c1964626-1646754243087" ukl:CommentaryRef="key-4e4feb4bf65476512c139e62c1964626">which has fallen due for payment, and</ins></p></content></level><level class="para1" eId="schedule-10-paragraph-1-2-c"><num><ins class="substitution" ukl:ChangeId="key-4e4feb4bf65476512c139e62c1964626-1646754243087" ukl:CommentaryRef="key-4e4feb4bf65476512c139e62c1964626">(c)</ins></num><content><p><ins class="substitution" ukl:ChangeId="key-4e4feb4bf65476512c139e62c1964626-1646754243087" ukl:CommentaryRef="key-4e4feb4bf65476512c139e62c1964626">which is not an excluded debt.</ins></p></content></level></subparagraph><subparagraph eId="schedule-10-paragraph-1-3"><num><ins class="substitution" ukl:ChangeId="key-4e4feb4bf65476512c139e62c1964626-1646754243087" ukl:CommentaryRef="key-4e4feb4bf65476512c139e62c1964626">(3)</ins></num><content><p><ins class="substitution" ukl:ChangeId="key-4e4feb4bf65476512c139e62c1964626-1646754243087" ukl:CommentaryRef="key-4e4feb4bf65476512c139e62c1964626">Condition B is that the creditor has delivered written notice to the company in accordance with sub-paragraphs (4) to (6).</ins></p></content></subparagraph><subparagraph eId="schedule-10-paragraph-1-4"><num><ins class="substitution" ukl:ChangeId="key-4e4feb4bf65476512c139e62c1964626-1646754243087" ukl:CommentaryRef="key-4e4feb4bf65476512c139e62c1964626">(4)</ins></num><intro><p><ins class="substitution" ukl:ChangeId="key-4e4feb4bf65476512c139e62c1964626-1646754243087" ukl:CommentaryRef="key-4e4feb4bf65476512c139e62c1964626">Notice under sub-paragraph (3) must contain the following—</ins></p></intro><level class="para1" eId="schedule-10-paragraph-1-4-a"><num><ins class="substitution" ukl:ChangeId="key-4e4feb4bf65476512c139e62c1964626-1646754243087" ukl:CommentaryRef="key-4e4feb4bf65476512c139e62c1964626">(a)</ins></num><content><p><ins class="substitution" ukl:ChangeId="key-4e4feb4bf65476512c139e62c1964626-1646754243087" ukl:CommentaryRef="key-4e4feb4bf65476512c139e62c1964626">identification details for the company,</ins></p></content></level><level class="para1" eId="schedule-10-paragraph-1-4-b"><num><ins class="substitution" ukl:ChangeId="key-4e4feb4bf65476512c139e62c1964626-1646754243087" ukl:CommentaryRef="key-4e4feb4bf65476512c139e62c1964626">(b)</ins></num><content><p><ins class="substitution" ukl:ChangeId="key-4e4feb4bf65476512c139e62c1964626-1646754243087" ukl:CommentaryRef="key-4e4feb4bf65476512c139e62c1964626">the name and address of the creditor,</ins></p></content></level><level class="para1" eId="schedule-10-paragraph-1-4-c"><num><ins class="substitution" ukl:ChangeId="key-4e4feb4bf65476512c139e62c1964626-1646754243087" ukl:CommentaryRef="key-4e4feb4bf65476512c139e62c1964626">(c)</ins></num><content><p><ins class="substitution" ukl:ChangeId="key-4e4feb4bf65476512c139e62c1964626-1646754243087" ukl:CommentaryRef="key-4e4feb4bf65476512c139e62c1964626">the amount of the debt and the way in which it arises,</ins></p></content></level><level class="para1" eId="schedule-10-paragraph-1-4-d"><num><ins class="substitution" ukl:ChangeId="key-4e4feb4bf65476512c139e62c1964626-1646754243087" ukl:CommentaryRef="key-4e4feb4bf65476512c139e62c1964626">(d)</ins></num><content><p><ins class="substitution" ukl:ChangeId="key-4e4feb4bf65476512c139e62c1964626-1646754243087" ukl:CommentaryRef="key-4e4feb4bf65476512c139e62c1964626">the date of the notice,</ins></p></content></level><level class="para1" eId="schedule-10-paragraph-1-4-e"><num><ins class="substitution" ukl:ChangeId="key-4e4feb4bf65476512c139e62c1964626-1646754243087" ukl:CommentaryRef="key-4e4feb4bf65476512c139e62c1964626">(e)</ins></num><content><p><ins class="substitution" ukl:ChangeId="key-4e4feb4bf65476512c139e62c1964626-1646754243087" ukl:CommentaryRef="key-4e4feb4bf65476512c139e62c1964626">a statement that the creditor is seeking the company’s proposals for the payment of the debt, and</ins></p></content></level><level class="para1" eId="schedule-10-paragraph-1-4-f"><num><ins class="substitution" ukl:ChangeId="key-4e4feb4bf65476512c139e62c1964626-1646754243087" ukl:CommentaryRef="key-4e4feb4bf65476512c139e62c1964626">(f)</ins></num><content><p><ins class="substitution" ukl:ChangeId="key-4e4feb4bf65476512c139e62c1964626-1646754243087" ukl:CommentaryRef="key-4e4feb4bf65476512c139e62c1964626">a statement that if no proposal to the creditor’s satisfaction is made within the period of 21 days beginning with the date on which the notice is delivered, the creditor intends to present a petition to the court for the winding-up of the company.</ins></p></content></level></subparagraph><subparagraph eId="schedule-10-paragraph-1-5"><num><ins class="substitution" ukl:ChangeId="key-4e4feb4bf65476512c139e62c1964626-1646754243087" ukl:CommentaryRef="key-4e4feb4bf65476512c139e62c1964626">(5)</ins></num><intro><p><ins class="substitution" ukl:ChangeId="key-4e4feb4bf65476512c139e62c1964626-1646754243087" ukl:CommentaryRef="key-4e4feb4bf65476512c139e62c1964626">Notice under sub-paragraph (3) must be delivered—</ins></p></intro><level class="para1" eId="schedule-10-paragraph-1-5-a"><num><ins class="substitution" ukl:ChangeId="key-4e4feb4bf65476512c139e62c1964626-1646754243087" ukl:CommentaryRef="key-4e4feb4bf65476512c139e62c1964626">(a)</ins></num><content><p><ins class="substitution" ukl:ChangeId="key-4e4feb4bf65476512c139e62c1964626-1646754243087" ukl:CommentaryRef="key-4e4feb4bf65476512c139e62c1964626">to the company’s registered office, or</ins></p></content></level><level class="para1" eId="schedule-10-paragraph-1-5-b"><num><ins class="substitution" ukl:ChangeId="key-4e4feb4bf65476512c139e62c1964626-1646754243087" ukl:CommentaryRef="key-4e4feb4bf65476512c139e62c1964626">(b)</ins></num><intro><p><ins class="substitution" ukl:ChangeId="key-4e4feb4bf65476512c139e62c1964626-1646754243087" ukl:CommentaryRef="key-4e4feb4bf65476512c139e62c1964626">in accordance with sub-paragraph (6) if—</ins></p></intro><level class="para2" eId="schedule-10-paragraph-1-5-b-i"><num><ins class="substitution" ukl:ChangeId="key-4e4feb4bf65476512c139e62c1964626-1646754243087" ukl:CommentaryRef="key-4e4feb4bf65476512c139e62c1964626">(i)</ins></num><content><p><ins class="substitution" ukl:ChangeId="key-4e4feb4bf65476512c139e62c1964626-1646754243087" ukl:CommentaryRef="key-4e4feb4bf65476512c139e62c1964626">for any reason it is not practicable to deliver the notice to the company’s registered office,</ins></p></content></level><level class="para2" eId="schedule-10-paragraph-1-5-b-ii"><num><ins class="substitution" ukl:ChangeId="key-4e4feb4bf65476512c139e62c1964626-1646754243087" ukl:CommentaryRef="key-4e4feb4bf65476512c139e62c1964626">(ii)</ins></num><content><p><ins class="substitution" ukl:ChangeId="key-4e4feb4bf65476512c139e62c1964626-1646754243087" ukl:CommentaryRef="key-4e4feb4bf65476512c139e62c1964626">the company has no registered office, or</ins></p></content></level><level class="para2" eId="schedule-10-paragraph-1-5-b-iii"><num><ins class="substitution" ukl:ChangeId="key-4e4feb4bf65476512c139e62c1964626-1646754243087" ukl:CommentaryRef="key-4e4feb4bf65476512c139e62c1964626">(iii)</ins></num><content><p><ins class="substitution" ukl:ChangeId="key-4e4feb4bf65476512c139e62c1964626-1646754243087" ukl:CommentaryRef="key-4e4feb4bf65476512c139e62c1964626">the company is an unregistered company.</ins></p></content></level></level></subparagraph><subparagraph eId="schedule-10-paragraph-1-6"><num><ins class="substitution" ukl:ChangeId="key-4e4feb4bf65476512c139e62c1964626-1646754243087" ukl:CommentaryRef="key-4e4feb4bf65476512c139e62c1964626">(6)</ins></num><intro><p><ins class="substitution" ukl:ChangeId="key-4e4feb4bf65476512c139e62c1964626-1646754243087" ukl:CommentaryRef="key-4e4feb4bf65476512c139e62c1964626">Where this sub-paragraph applies the notice may be delivered to—</ins></p></intro><level class="para1" eId="schedule-10-paragraph-1-6-a"><num><ins class="substitution" ukl:ChangeId="key-4e4feb4bf65476512c139e62c1964626-1646754243087" ukl:CommentaryRef="key-4e4feb4bf65476512c139e62c1964626">(a)</ins></num><content><p><ins class="substitution" ukl:ChangeId="key-4e4feb4bf65476512c139e62c1964626-1646754243087" ukl:CommentaryRef="key-4e4feb4bf65476512c139e62c1964626">the company’s last known principal place of business, or</ins></p></content></level><level class="para1" eId="schedule-10-paragraph-1-6-b"><num><ins class="substitution" ukl:ChangeId="key-4e4feb4bf65476512c139e62c1964626-1646754243087" ukl:CommentaryRef="key-4e4feb4bf65476512c139e62c1964626">(b)</ins></num><content><p><ins class="substitution" ukl:ChangeId="key-4e4feb4bf65476512c139e62c1964626-1646754243087" ukl:CommentaryRef="key-4e4feb4bf65476512c139e62c1964626">the secretary, or a director, manager or (in relation to an unregistered company) principal officer of the company.</ins></p></content></level></subparagraph><subparagraph eId="schedule-10-paragraph-1-7"><num><ins class="substitution" ukl:ChangeId="key-4e4feb4bf65476512c139e62c1964626-1646754243087" ukl:CommentaryRef="key-4e4feb4bf65476512c139e62c1964626">(7)</ins></num><content><p><ins class="substitution" ukl:ChangeId="key-4e4feb4bf65476512c139e62c1964626-1646754243087" ukl:CommentaryRef="key-4e4feb4bf65476512c139e62c1964626">Condition C is that at end of the period of 21 days beginning with the day on which condition B was met the company has not made a proposal for the payment of the debt that is to the creditor’s satisfaction.</ins></p></content></subparagraph><subparagraph eId="schedule-10-paragraph-1-8"><num><ins class="substitution" ukl:ChangeId="key-4e4feb4bf65476512c139e62c1964626-1646754243087" ukl:CommentaryRef="key-4e4feb4bf65476512c139e62c1964626">(8)</ins></num><intro><p><ins class="substitution" ukl:ChangeId="key-4e4feb4bf65476512c139e62c1964626-1646754243087" ukl:CommentaryRef="key-4e4feb4bf65476512c139e62c1964626">Condition D is that—</ins></p></intro><level class="para1" eId="schedule-10-paragraph-1-8-a"><num><ins class="substitution" ukl:ChangeId="key-4e4feb4bf65476512c139e62c1964626-1646754243087" ukl:CommentaryRef="key-4e4feb4bf65476512c139e62c1964626">(a)</ins></num><content><p><ins class="substitution" ukl:ChangeId="key-4e4feb4bf65476512c139e62c1964626-1646754243087" ukl:CommentaryRef="key-4e4feb4bf65476512c139e62c1964626">where the petition is presented by one creditor, the sum of the debts (or the debt, if there is only one) owed by the company to that creditor in respect of which conditions A to C are met is £10,000 or more;</ins></p></content></level><level class="para1" eId="schedule-10-paragraph-1-8-b"><num><ins class="substitution" ukl:ChangeId="key-4e4feb4bf65476512c139e62c1964626-1646754243087" ukl:CommentaryRef="key-4e4feb4bf65476512c139e62c1964626">(b)</ins></num><content><p><ins class="substitution" ukl:ChangeId="key-4e4feb4bf65476512c139e62c1964626-1646754243087" ukl:CommentaryRef="key-4e4feb4bf65476512c139e62c1964626">where the petition is presented by more than one creditor, the sum of the debts owed by the company to the creditors in respect of which conditions A to C are met is £10,000 or more.</ins></p></content></level></subparagraph><subparagraph eId="schedule-10-paragraph-1-9"><num><ins class="substitution" ukl:ChangeId="key-4e4feb4bf65476512c139e62c1964626-1646754243087" ukl:CommentaryRef="key-4e4feb4bf65476512c139e62c1964626">(9)</ins></num><intro><p><ins class="substitution" ukl:ChangeId="key-4e4feb4bf65476512c139e62c1964626-1646754243087" ukl:CommentaryRef="key-4e4feb4bf65476512c139e62c1964626">A creditor may at any time apply to the court for an order that, in respect of a specified debt—</ins></p></intro><level class="para1" eId="schedule-10-paragraph-1-9-a"><num><ins class="substitution" ukl:ChangeId="key-4e4feb4bf65476512c139e62c1964626-1646754243087" ukl:CommentaryRef="key-4e4feb4bf65476512c139e62c1964626">(a)</ins></num><content><p><ins class="substitution" ukl:ChangeId="key-4e4feb4bf65476512c139e62c1964626-1646754243087" ukl:CommentaryRef="key-4e4feb4bf65476512c139e62c1964626">conditions B and C shall not apply, or</ins></p></content></level><level class="para1" eId="schedule-10-paragraph-1-9-b"><num><ins class="substitution" ukl:ChangeId="key-4e4feb4bf65476512c139e62c1964626-1646754243087" ukl:CommentaryRef="key-4e4feb4bf65476512c139e62c1964626">(b)</ins></num><content><p><ins class="substitution" ukl:ChangeId="key-4e4feb4bf65476512c139e62c1964626-1646754243087" ukl:CommentaryRef="key-4e4feb4bf65476512c139e62c1964626">condition C shall apply as if the reference to the period of 21 days were to such shorter period as the court may direct.</ins></p></content></level></subparagraph><subparagraph eId="schedule-10-paragraph-1-10"><num><ins class="substitution" ukl:ChangeId="key-4e4feb4bf65476512c139e62c1964626-1646754243087" ukl:CommentaryRef="key-4e4feb4bf65476512c139e62c1964626">(10)</ins></num><content><p><ins class="substitution" ukl:ChangeId="key-4e4feb4bf65476512c139e62c1964626-1646754243087" ukl:CommentaryRef="key-4e4feb4bf65476512c139e62c1964626">Where an order is made under sub-paragraph (9)(a), the references in sub-paragraph (8) to conditions A to C are to be read as references to condition A.</ins></p></content></subparagraph><subparagraph eId="schedule-10-paragraph-1-11"><num><ins class="substitution" ukl:ChangeId="key-4e4feb4bf65476512c139e62c1964626-1646754243087" ukl:CommentaryRef="key-4e4feb4bf65476512c139e62c1964626">(11)</ins></num><intro><p><ins class="substitution" ukl:ChangeId="key-4e4feb4bf65476512c139e62c1964626-1646754243087" ukl:CommentaryRef="key-4e4feb4bf65476512c139e62c1964626">If the court makes an order under sub-paragraph (9)(b) it may—</ins></p></intro><level class="para1" eId="schedule-10-paragraph-1-11-a"><num><ins class="substitution" ukl:ChangeId="key-4e4feb4bf65476512c139e62c1964626-1646754243087" ukl:CommentaryRef="key-4e4feb4bf65476512c139e62c1964626">(a)</ins></num><content><p><ins class="substitution" ukl:ChangeId="key-4e4feb4bf65476512c139e62c1964626-1646754243087" ukl:CommentaryRef="key-4e4feb4bf65476512c139e62c1964626">give such directions as to delivery of the written notice referred to in condition B as it thinks fit, or</ins></p></content></level><level class="para1" eId="schedule-10-paragraph-1-11-b"><num><ins class="substitution" ukl:ChangeId="key-4e4feb4bf65476512c139e62c1964626-1646754243087" ukl:CommentaryRef="key-4e4feb4bf65476512c139e62c1964626">(b)</ins></num><content><p><ins class="substitution" ukl:ChangeId="key-4e4feb4bf65476512c139e62c1964626-1646754243087" ukl:CommentaryRef="key-4e4feb4bf65476512c139e62c1964626">direct that sub-paragraphs (4) to (6) shall apply in respect of the delivery of that notice subject to such modifications it thinks fit.</ins></p></content></level></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-10-crossheading-modification-of-insolvency-rules-and-rules-of-court"><heading><ins class="substitution" ukl:ChangeId="key-4e4feb4bf65476512c139e62c1964626-1646754243087" ukl:CommentaryRef="key-4e4feb4bf65476512c139e62c1964626">Modification of Insolvency Rules and Rules of Court</ins></heading><paragraph eId="schedule-10-paragraph-2" class="schProv1"><num><ins class="substitution" ukl:ChangeId="key-4e4feb4bf65476512c139e62c1964626-1646754243087" ukl:CommentaryRef="key-4e4feb4bf65476512c139e62c1964626">2.</ins></num><subparagraph eId="schedule-10-paragraph-2-1"><num><ins class="substitution" ukl:ChangeId="key-4e4feb4bf65476512c139e62c1964626-1646754243087" ukl:CommentaryRef="key-4e4feb4bf65476512c139e62c1964626">(1)</ins></num><content><p><ins class="substitution" ukl:ChangeId="key-4e4feb4bf65476512c139e62c1964626-1646754243087" ukl:CommentaryRef="key-4e4feb4bf65476512c139e62c1964626">This paragraph applies in relation to a petition which is presented in England and Wales by a creditor under section 124 of the 1986 Act during the relevant period.</ins></p></content></subparagraph><subparagraph eId="schedule-10-paragraph-2-2"><num><ins class="substitution" ukl:ChangeId="key-4e4feb4bf65476512c139e62c1964626-1646754243087" ukl:CommentaryRef="key-4e4feb4bf65476512c139e62c1964626">(2)</ins></num><intro><p><ins class="substitution" ukl:ChangeId="key-4e4feb4bf65476512c139e62c1964626-1646754243087" ukl:CommentaryRef="key-4e4feb4bf65476512c139e62c1964626">Rule 7.5(1) of the Insolvency Rules has effect as if it also required the petition to contain a statement—</ins></p></intro><level class="para1" eId="schedule-10-paragraph-2-2-a"><num><ins class="substitution" ukl:ChangeId="key-4e4feb4bf65476512c139e62c1964626-1646754243087" ukl:CommentaryRef="key-4e4feb4bf65476512c139e62c1964626">(a)</ins></num><content><p><ins class="substitution" ukl:ChangeId="key-4e4feb4bf65476512c139e62c1964626-1646754243087" ukl:CommentaryRef="key-4e4feb4bf65476512c139e62c1964626">that the requirements in paragraph 1 of this Schedule are met, and</ins></p></content></level><level class="para1" eId="schedule-10-paragraph-2-2-b"><num><ins class="substitution" ukl:ChangeId="key-4e4feb4bf65476512c139e62c1964626-1646754243087" ukl:CommentaryRef="key-4e4feb4bf65476512c139e62c1964626">(b)</ins></num><content><p><ins class="substitution" ukl:ChangeId="key-4e4feb4bf65476512c139e62c1964626-1646754243087" ukl:CommentaryRef="key-4e4feb4bf65476512c139e62c1964626">that no proposals for the payment of the debt have been made, or a summary of the reasons why the proposals are not to the creditor’s satisfaction (as the case may be).</ins></p></content></level></subparagraph></paragraph><paragraph eId="schedule-10-paragraph-3" class="schProv1"><num><ins class="substitution" ukl:ChangeId="key-4e4feb4bf65476512c139e62c1964626-1646754243087" ukl:CommentaryRef="key-4e4feb4bf65476512c139e62c1964626">3.</ins></num><subparagraph eId="schedule-10-paragraph-3-1"><num><ins class="substitution" ukl:ChangeId="key-4e4feb4bf65476512c139e62c1964626-1646754243087" ukl:CommentaryRef="key-4e4feb4bf65476512c139e62c1964626">(1)</ins></num><content><p><ins class="substitution" ukl:ChangeId="key-4e4feb4bf65476512c139e62c1964626-1646754243087" ukl:CommentaryRef="key-4e4feb4bf65476512c139e62c1964626">This paragraph applies in relation to a petition which is presented in Scotland by a creditor under section 124 of the 1986 Act during the relevant period.</ins></p></content></subparagraph><subparagraph eId="schedule-10-paragraph-3-2"><num><ins class="substitution" ukl:ChangeId="key-4e4feb4bf65476512c139e62c1964626-1646754243087" ukl:CommentaryRef="key-4e4feb4bf65476512c139e62c1964626">(2)</ins></num><intro><p><ins class="substitution" ukl:ChangeId="key-4e4feb4bf65476512c139e62c1964626-1646754243087" ukl:CommentaryRef="key-4e4feb4bf65476512c139e62c1964626">Rules of Court in Scotland have effect as if they required the petition to contain an averment—</ins></p></intro><level class="para1" eId="schedule-10-paragraph-3-2-a"><num><ins class="substitution" ukl:ChangeId="key-4e4feb4bf65476512c139e62c1964626-1646754243087" ukl:CommentaryRef="key-4e4feb4bf65476512c139e62c1964626">(a)</ins></num><content><p><ins class="substitution" ukl:ChangeId="key-4e4feb4bf65476512c139e62c1964626-1646754243087" ukl:CommentaryRef="key-4e4feb4bf65476512c139e62c1964626">that the requirements in paragraph 1 of this Schedule are met, and</ins></p></content></level><level class="para1" eId="schedule-10-paragraph-3-2-b"><num><ins class="substitution" ukl:ChangeId="key-4e4feb4bf65476512c139e62c1964626-1646754243087" ukl:CommentaryRef="key-4e4feb4bf65476512c139e62c1964626">(b)</ins></num><content><p><ins class="substitution" ukl:ChangeId="key-4e4feb4bf65476512c139e62c1964626-1646754243087" ukl:CommentaryRef="key-4e4feb4bf65476512c139e62c1964626">that no proposals for the payment of the debt have been made, or a summary of the reasons why the proposals are not to the creditor’s satisfaction (as the case may be).</ins></p></content></level></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-10-crossheading-interpretation"><heading><ins class="substitution" ukl:ChangeId="key-4e4feb4bf65476512c139e62c1964626-1646754243087" ukl:CommentaryRef="key-4e4feb4bf65476512c139e62c1964626">Interpretation</ins></heading><paragraph eId="schedule-10-paragraph-4" class="schProv1"><num><ins class="substitution" ukl:ChangeId="key-4e4feb4bf65476512c139e62c1964626-1646754243087" ukl:CommentaryRef="key-4e4feb4bf65476512c139e62c1964626">4.</ins></num><subparagraph eId="schedule-10-paragraph-4-1"><num><ins class="substitution" ukl:ChangeId="key-4e4feb4bf65476512c139e62c1964626-1646754243087" ukl:CommentaryRef="key-4e4feb4bf65476512c139e62c1964626">(1)</ins></num><intro><p><ins class="substitution" ukl:ChangeId="key-4e4feb4bf65476512c139e62c1964626-1646754243087" ukl:CommentaryRef="key-4e4feb4bf65476512c139e62c1964626">In this Schedule “relevant period” means the period which—</ins></p></intro><level class="para1" eId="schedule-10-paragraph-4-1-a"><num><ins class="substitution" ukl:ChangeId="key-4e4feb4bf65476512c139e62c1964626-1646754243087" ukl:CommentaryRef="key-4e4feb4bf65476512c139e62c1964626">(a)</ins></num><content><p><ins class="substitution" ukl:ChangeId="key-4e4feb4bf65476512c139e62c1964626-1646754243087" ukl:CommentaryRef="key-4e4feb4bf65476512c139e62c1964626">begins with 1 October 2021, and</ins></p></content></level><level class="para1" eId="schedule-10-paragraph-4-1-b"><num><ins class="substitution" ukl:ChangeId="key-4e4feb4bf65476512c139e62c1964626-1646754243087" ukl:CommentaryRef="key-4e4feb4bf65476512c139e62c1964626">(b)</ins></num><content><p><ins class="substitution" ukl:ChangeId="key-4e4feb4bf65476512c139e62c1964626-1646754243087" ukl:CommentaryRef="key-4e4feb4bf65476512c139e62c1964626">ends with 31 March 2022.</ins></p></content></level></subparagraph><subparagraph eId="schedule-10-paragraph-4-2"><num><ins class="substitution" ukl:ChangeId="key-4e4feb4bf65476512c139e62c1964626-1646754243087" ukl:CommentaryRef="key-4e4feb4bf65476512c139e62c1964626">(2)</ins></num><intro><p><ins class="substitution" ukl:ChangeId="key-4e4feb4bf65476512c139e62c1964626-1646754243087" ukl:CommentaryRef="key-4e4feb4bf65476512c139e62c1964626">For the purposes of this Schedule, references to a petition presented by a creditor—</ins></p></intro><level class="para1" eId="schedule-10-paragraph-4-2-a"><num><ins class="substitution" ukl:ChangeId="key-4e4feb4bf65476512c139e62c1964626-1646754243087" ukl:CommentaryRef="key-4e4feb4bf65476512c139e62c1964626">(a)</ins></num><content><p><ins class="substitution" ukl:ChangeId="key-4e4feb4bf65476512c139e62c1964626-1646754243087" ukl:CommentaryRef="key-4e4feb4bf65476512c139e62c1964626">do not include a petition presented by one or more creditors together with one or more other persons, but</ins></p></content></level><level class="para1" eId="schedule-10-paragraph-4-2-b"><num><ins class="substitution" ukl:ChangeId="key-4e4feb4bf65476512c139e62c1964626-1646754243087" ukl:CommentaryRef="key-4e4feb4bf65476512c139e62c1964626">(b)</ins></num><content><p><ins class="substitution" ukl:ChangeId="key-4e4feb4bf65476512c139e62c1964626-1646754243087" ukl:CommentaryRef="key-4e4feb4bf65476512c139e62c1964626">subject to that, do include a petition presented by more than one creditor, in which case the conditions specified in paragraph 1(2) to (7) must be met in relation to each creditor presenting the petition.</ins></p></content></level></subparagraph><subparagraph eId="schedule-10-paragraph-4-3"><num><ins class="substitution" ukl:ChangeId="key-4e4feb4bf65476512c139e62c1964626-1646754243087" ukl:CommentaryRef="key-4e4feb4bf65476512c139e62c1964626">(3)</ins></num><intro><p><ins class="substitution" ukl:ChangeId="key-4e4feb4bf65476512c139e62c1964626-1646754243087" ukl:CommentaryRef="key-4e4feb4bf65476512c139e62c1964626">For the purposes of this Schedule—</ins></p></intro><hcontainer name="definition"><content><p><ins class="substitution" ukl:ChangeId="key-4e4feb4bf65476512c139e62c1964626-1646754243087" ukl:CommentaryRef="key-4e4feb4bf65476512c139e62c1964626">“the 1986 Act” means the Insolvency Act 1986;</ins></p></content></hcontainer><hcontainer name="definition"><content><p><ins class="substitution" ukl:ChangeId="key-4e4feb4bf65476512c139e62c1964626-1646754243087" ukl:CommentaryRef="key-4e4feb4bf65476512c139e62c1964626">“coronavirus” means severe acute respiratory syndrome coronavirus 2 (SARS-Cov-2);</ins></p></content></hcontainer><hcontainer name="definition"><intro><p><ins class="substitution" ukl:ChangeId="key-4e4feb4bf65476512c139e62c1964626-1646754243087" ukl:CommentaryRef="key-4e4feb4bf65476512c139e62c1964626">“excluded debt” means a debt in respect of rent, or any sum or other payment that a tenant is liable to pay, under—</ins></p></intro><level class="para1"><num>(a)</num><content><p><ins class="substitution" ukl:ChangeId="key-4e4feb4bf65476512c139e62c1964626-1646754243087" ukl:CommentaryRef="key-4e4feb4bf65476512c139e62c1964626">in England and Wales, a relevant business tenancy; or</ins></p></content></level><level class="para1"><num>(b)</num><content><p><ins class="substitution" ukl:ChangeId="key-4e4feb4bf65476512c139e62c1964626-1646754243087" ukl:CommentaryRef="key-4e4feb4bf65476512c139e62c1964626">in Scotland, a lease as defined in section 7(1) of the Law Reform (Miscellaneous Provisions) (Scotland) Act 1985,</ins></p></content></level><wrapUp><p><ins class="substitution" ukl:ChangeId="key-4e4feb4bf65476512c139e62c1964626-1646754243087" ukl:CommentaryRef="key-4e4feb4bf65476512c139e62c1964626">and which is unpaid by reason of a financial effect of coronavirus;</ins></p></wrapUp></hcontainer><hcontainer name="definition"><content><p><ins class="substitution" ukl:ChangeId="key-4e4feb4bf65476512c139e62c1964626-1646754243087" ukl:CommentaryRef="key-4e4feb4bf65476512c139e62c1964626">“Insolvency Rules” means the Insolvency (England and Wales) Rules 2016 (</ins><ref eId="c00002" href="http://www.legislation.gov.uk/id/uksi/2016/1024"><ins class="substitution" ukl:ChangeId="key-4e4feb4bf65476512c139e62c1964626-1646754243087" ukl:CommentaryRef="key-4e4feb4bf65476512c139e62c1964626">S.I. 2016/1024</ins></ref><ins class="substitution" ukl:ChangeId="key-4e4feb4bf65476512c139e62c1964626-1646754243087" ukl:CommentaryRef="key-4e4feb4bf65476512c139e62c1964626">);</ins></p></content></hcontainer><hcontainer name="definition"><content><p><ins class="substitution" ukl:ChangeId="key-4e4feb4bf65476512c139e62c1964626-1646754243087" ukl:CommentaryRef="key-4e4feb4bf65476512c139e62c1964626">“registered company” means a company registered under the Companies Act 2006 in England and Wales or Scotland;</ins></p></content></hcontainer><hcontainer name="definition"><intro><p><ins class="substitution" ukl:ChangeId="key-4e4feb4bf65476512c139e62c1964626-1646754243087" ukl:CommentaryRef="key-4e4feb4bf65476512c139e62c1964626">“relevant business tenancy” means—</ins></p></intro><level class="para1"><num>(a)</num><content><p><ins class="substitution" ukl:ChangeId="key-4e4feb4bf65476512c139e62c1964626-1646754243087" ukl:CommentaryRef="key-4e4feb4bf65476512c139e62c1964626">a tenancy to which Part 2 of the Landlord and Tenant Act 1954 applies, or</ins></p></content></level><level class="para1"><num>(b)</num><content><p><ins class="substitution" ukl:ChangeId="key-4e4feb4bf65476512c139e62c1964626-1646754243087" ukl:CommentaryRef="key-4e4feb4bf65476512c139e62c1964626">a tenancy to which that Part of that Act would apply if any relevant occupier were the tenant;</ins></p></content></level></hcontainer><hcontainer name="definition"><content><p><ins class="substitution" ukl:ChangeId="key-4e4feb4bf65476512c139e62c1964626-1646754243087" ukl:CommentaryRef="key-4e4feb4bf65476512c139e62c1964626">“relevant occupier” in relation to a tenancy, means a person, other than the tenant, who lawfully occupies premises which are, or form part of, the property comprised in the tenancy; and</ins></p></content></hcontainer><hcontainer name="definition"><content><p><ins class="substitution" ukl:ChangeId="key-4e4feb4bf65476512c139e62c1964626-1646754243087" ukl:CommentaryRef="key-4e4feb4bf65476512c139e62c1964626">“unregistered company” has the meaning given in Part 5 of the 1986 Act.</ins></p></content></hcontainer></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-10-crossheading-general"><heading><ins class="substitution" ukl:ChangeId="key-4e4feb4bf65476512c139e62c1964626-1646754243087" ukl:CommentaryRef="key-4e4feb4bf65476512c139e62c1964626">General</ins></heading><paragraph eId="schedule-10-paragraph-5" class="schProv1"><num><ins class="substitution" ukl:ChangeId="key-4e4feb4bf65476512c139e62c1964626-1646754243087" ukl:CommentaryRef="key-4e4feb4bf65476512c139e62c1964626">5.</ins></num><subparagraph eId="schedule-10-paragraph-5-1"><num><ins class="substitution" ukl:ChangeId="key-4e4feb4bf65476512c139e62c1964626-1646754243087" ukl:CommentaryRef="key-4e4feb4bf65476512c139e62c1964626">(1)</ins></num><content><p><ins class="substitution" ukl:ChangeId="key-4e4feb4bf65476512c139e62c1964626-1646754243087" ukl:CommentaryRef="key-4e4feb4bf65476512c139e62c1964626">The provisions of this Schedule, so far as relating to registered companies, have effect as if they were included in Part 4 of the 1986 Act.</ins></p></content></subparagraph><subparagraph eId="schedule-10-paragraph-5-2"><num><ins class="substitution" ukl:ChangeId="key-4e4feb4bf65476512c139e62c1964626-1646754243087" ukl:CommentaryRef="key-4e4feb4bf65476512c139e62c1964626">(2)</ins></num><content><p><ins class="substitution last" ukl:ChangeId="key-4e4feb4bf65476512c139e62c1964626-1646754243087" ukl:CommentaryRef="key-4e4feb4bf65476512c139e62c1964626">Sub-paragraph (1) does not apply in relation to paragraphs 2 and 3 (modification of insolvency rules).</ins></p></content></subparagraph></paragraph></hcontainer></hcontainer><hcontainer name="schedule" eId="schedule-11"><num><ins class="substitution first" ukl:ChangeId="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd-1647280327648" ukl:CommentaryRef="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd"><noteRef uk:name="commentary" href="#M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd" class="commentary"/>SCHEDULE 11</ins><authorialNote class="referenceNote"><p><ins class="substitution" ukl:ChangeId="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd-1647280327648" ukl:CommentaryRef="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd">Section 11</ins></p></authorialNote></num><heading><ins class="substitution" ukl:ChangeId="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd-1647280327648" ukl:CommentaryRef="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd">RESTRICTION ON WINDING-UP PETITIONS: NORTHERN IRELAND</ins></heading><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-11-crossheading-restriction-on-windingup-petitions"><heading><ins class="substitution" ukl:ChangeId="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd-1647280327648" ukl:CommentaryRef="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd">Restriction on winding-up petitions</ins></heading><paragraph eId="schedule-11-paragraph-1" class="schProv1"><num><ins class="substitution" ukl:ChangeId="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd-1647280327648" ukl:CommentaryRef="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd">1.</ins></num><subparagraph eId="schedule-11-paragraph-1-1"><num><ins class="substitution" ukl:ChangeId="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd-1647280327648" ukl:CommentaryRef="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd">(1)</ins></num><intro><p><ins class="substitution" ukl:ChangeId="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd-1647280327648" ukl:CommentaryRef="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd">During the relevant period a creditor may not present a petition for the winding up of a company under Article 104 of the 1989 Order on a ground specified—</ins></p></intro><level class="para1" eId="schedule-11-paragraph-1-1-a"><num><ins class="substitution" ukl:ChangeId="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd-1647280327648" ukl:CommentaryRef="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd">(a)</ins></num><content><p><ins class="substitution" ukl:ChangeId="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd-1647280327648" ukl:CommentaryRef="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd">in the case of a registered company, in Article 102(f) of that Order, or</ins></p></content></level><level class="para1" eId="schedule-11-paragraph-1-1-b"><num><ins class="substitution" ukl:ChangeId="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd-1647280327648" ukl:CommentaryRef="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd">(b)</ins></num><content><p><ins class="substitution" ukl:ChangeId="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd-1647280327648" ukl:CommentaryRef="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd">in the case of an unregistered company, in Article 185(4)(b) of that Order,</ins></p></content></level><wrapUp><p><ins class="substitution" ukl:ChangeId="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd-1647280327648" ukl:CommentaryRef="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd">unless conditions A to D are met (subject to sub-paragraphs (9) to (11)).</ins></p></wrapUp></subparagraph><subparagraph eId="schedule-11-paragraph-1-2"><num><ins class="substitution" ukl:ChangeId="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd-1647280327648" ukl:CommentaryRef="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd">(2)</ins></num><intro><p><ins class="substitution" ukl:ChangeId="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd-1647280327648" ukl:CommentaryRef="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd">Condition A is that the creditor is owed a debt by the company—</ins></p></intro><level class="para1" eId="schedule-11-paragraph-1-2-a"><num><ins class="substitution" ukl:ChangeId="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd-1647280327648" ukl:CommentaryRef="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd">(a)</ins></num><content><p><ins class="substitution" ukl:ChangeId="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd-1647280327648" ukl:CommentaryRef="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd">whose amount is liquidated,</ins></p></content></level><level class="para1" eId="schedule-11-paragraph-1-2-b"><num><ins class="substitution" ukl:ChangeId="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd-1647280327648" ukl:CommentaryRef="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd">(b)</ins></num><content><p><ins class="substitution" ukl:ChangeId="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd-1647280327648" ukl:CommentaryRef="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd">which has fallen due for payment, and</ins></p></content></level><level class="para1" eId="schedule-11-paragraph-1-2-c"><num><ins class="substitution" ukl:ChangeId="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd-1647280327648" ukl:CommentaryRef="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd">(c)</ins></num><content><p><ins class="substitution" ukl:ChangeId="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd-1647280327648" ukl:CommentaryRef="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd">which is not an excluded debt.</ins></p></content></level></subparagraph><subparagraph eId="schedule-11-paragraph-1-3"><num><ins class="substitution" ukl:ChangeId="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd-1647280327648" ukl:CommentaryRef="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd">(3)</ins></num><content><p><ins class="substitution" ukl:ChangeId="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd-1647280327648" ukl:CommentaryRef="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd">Condition B is that the creditor has delivered written notice to the company in accordance with sub-paragraphs (4) to (6).</ins></p></content></subparagraph><subparagraph eId="schedule-11-paragraph-1-4"><num><ins class="substitution" ukl:ChangeId="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd-1647280327648" ukl:CommentaryRef="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd">(4)</ins></num><intro><p><ins class="substitution" ukl:ChangeId="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd-1647280327648" ukl:CommentaryRef="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd">Notice under sub-paragraph (3) must contain the following—</ins></p></intro><level class="para1" eId="schedule-11-paragraph-1-4-a"><num><ins class="substitution" ukl:ChangeId="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd-1647280327648" ukl:CommentaryRef="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd">(a)</ins></num><content><p><ins class="substitution" ukl:ChangeId="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd-1647280327648" ukl:CommentaryRef="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd">identification details for the company,</ins></p></content></level><level class="para1" eId="schedule-11-paragraph-1-4-b"><num><ins class="substitution" ukl:ChangeId="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd-1647280327648" ukl:CommentaryRef="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd">(b)</ins></num><content><p><ins class="substitution" ukl:ChangeId="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd-1647280327648" ukl:CommentaryRef="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd">the name and address of the creditor,</ins></p></content></level><level class="para1" eId="schedule-11-paragraph-1-4-c"><num><ins class="substitution" ukl:ChangeId="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd-1647280327648" ukl:CommentaryRef="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd">(c)</ins></num><content><p><ins class="substitution" ukl:ChangeId="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd-1647280327648" ukl:CommentaryRef="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd">the amount of the debt and the way in which it arises,</ins></p></content></level><level class="para1" eId="schedule-11-paragraph-1-4-d"><num><ins class="substitution" ukl:ChangeId="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd-1647280327648" ukl:CommentaryRef="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd">(d)</ins></num><content><p><ins class="substitution" ukl:ChangeId="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd-1647280327648" ukl:CommentaryRef="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd">the date of the notice,</ins></p></content></level><level class="para1" eId="schedule-11-paragraph-1-4-e"><num><ins class="substitution" ukl:ChangeId="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd-1647280327648" ukl:CommentaryRef="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd">(e)</ins></num><content><p><ins class="substitution" ukl:ChangeId="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd-1647280327648" ukl:CommentaryRef="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd">a statement that the creditor is seeking the company’s proposals for the payment of the debt, and</ins></p></content></level><level class="para1" eId="schedule-11-paragraph-1-4-f"><num><ins class="substitution" ukl:ChangeId="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd-1647280327648" ukl:CommentaryRef="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd">(f)</ins></num><content><p><ins class="substitution" ukl:ChangeId="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd-1647280327648" ukl:CommentaryRef="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd">a statement that if no proposal to the creditor’s satisfaction is made within the period of 21 days beginning with the date on which the notice is delivered, the creditor intends to present a petition to the High Court for the winding-up of the company.</ins></p></content></level></subparagraph><subparagraph eId="schedule-11-paragraph-1-5"><num><ins class="substitution" ukl:ChangeId="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd-1647280327648" ukl:CommentaryRef="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd">(5)</ins></num><intro><p><ins class="substitution" ukl:ChangeId="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd-1647280327648" ukl:CommentaryRef="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd">Notice under sub-paragraph (3) must be delivered—</ins></p></intro><level class="para1" eId="schedule-11-paragraph-1-5-a"><num><ins class="substitution" ukl:ChangeId="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd-1647280327648" ukl:CommentaryRef="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd">(a)</ins></num><content><p><ins class="substitution" ukl:ChangeId="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd-1647280327648" ukl:CommentaryRef="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd">to the company’s registered office, or</ins></p></content></level><level class="para1" eId="schedule-11-paragraph-1-5-b"><num><ins class="substitution" ukl:ChangeId="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd-1647280327648" ukl:CommentaryRef="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd">(b)</ins></num><intro><p><ins class="substitution" ukl:ChangeId="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd-1647280327648" ukl:CommentaryRef="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd">in accordance with sub-paragraph (6) if—</ins></p></intro><level class="para2" eId="schedule-11-paragraph-1-5-b-i"><num><ins class="substitution" ukl:ChangeId="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd-1647280327648" ukl:CommentaryRef="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd">(i)</ins></num><content><p><ins class="substitution" ukl:ChangeId="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd-1647280327648" ukl:CommentaryRef="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd">for any reason it is not practicable to deliver the notice to the company’s registered office,</ins></p></content></level><level class="para2" eId="schedule-11-paragraph-1-5-b-ii"><num><ins class="substitution" ukl:ChangeId="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd-1647280327648" ukl:CommentaryRef="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd">(ii)</ins></num><content><p><ins class="substitution" ukl:ChangeId="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd-1647280327648" ukl:CommentaryRef="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd">the company has no registered office, or</ins></p></content></level><level class="para2" eId="schedule-11-paragraph-1-5-b-iii"><num><ins class="substitution" ukl:ChangeId="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd-1647280327648" ukl:CommentaryRef="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd">(iii)</ins></num><content><p><ins class="substitution" ukl:ChangeId="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd-1647280327648" ukl:CommentaryRef="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd">the company is an unregistered company.</ins></p></content></level></level></subparagraph><subparagraph eId="schedule-11-paragraph-1-6"><num><ins class="substitution" ukl:ChangeId="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd-1647280327648" ukl:CommentaryRef="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd">(6)</ins></num><intro><p><ins class="substitution" ukl:ChangeId="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd-1647280327648" ukl:CommentaryRef="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd">Where this sub-paragraph applies the notice may be delivered to—</ins></p></intro><level class="para1" eId="schedule-11-paragraph-1-6-a"><num><ins class="substitution" ukl:ChangeId="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd-1647280327648" ukl:CommentaryRef="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd">(a)</ins></num><content><p><ins class="substitution" ukl:ChangeId="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd-1647280327648" ukl:CommentaryRef="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd">the company’s last known principal place of business, or</ins></p></content></level><level class="para1" eId="schedule-11-paragraph-1-6-b"><num><ins class="substitution" ukl:ChangeId="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd-1647280327648" ukl:CommentaryRef="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd">(b)</ins></num><content><p><ins class="substitution" ukl:ChangeId="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd-1647280327648" ukl:CommentaryRef="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd">the secretary, or a director, manager or (in relation to an unregistered company) principal officer of the company.</ins></p></content></level></subparagraph><subparagraph eId="schedule-11-paragraph-1-7"><num><ins class="substitution" ukl:ChangeId="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd-1647280327648" ukl:CommentaryRef="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd">(7)</ins></num><content><p><ins class="substitution" ukl:ChangeId="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd-1647280327648" ukl:CommentaryRef="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd">Condition C is that at the end of the period of 21 days beginning with the day on which condition B was met the company has not made a proposal for the payment of the debt that is to the creditor’s satisfaction.</ins></p></content></subparagraph><subparagraph eId="schedule-11-paragraph-1-8"><num><ins class="substitution" ukl:ChangeId="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd-1647280327648" ukl:CommentaryRef="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd">(8)</ins></num><intro><p><ins class="substitution" ukl:ChangeId="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd-1647280327648" ukl:CommentaryRef="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd">Condition D is that—</ins></p></intro><level class="para1" eId="schedule-11-paragraph-1-8-a"><num><ins class="substitution" ukl:ChangeId="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd-1647280327648" ukl:CommentaryRef="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd">(a)</ins></num><content><p><ins class="substitution" ukl:ChangeId="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd-1647280327648" ukl:CommentaryRef="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd">where the petition is presented by one creditor, the sum of the debts (or the debt, if there is only one) owed by the company to that creditor in respect of which conditions A to C are met is £10,000 or more,</ins></p></content></level><level class="para1" eId="schedule-11-paragraph-1-8-b"><num><ins class="substitution" ukl:ChangeId="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd-1647280327648" ukl:CommentaryRef="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd">(b)</ins></num><content><p><ins class="substitution" ukl:ChangeId="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd-1647280327648" ukl:CommentaryRef="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd">where the petition is presented by more than one creditor, the sum of the debts owed by the company to the creditors in respect of which conditions A to C are met is £10,000 or more.</ins></p></content></level></subparagraph><subparagraph eId="schedule-11-paragraph-1-9"><num><ins class="substitution" ukl:ChangeId="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd-1647280327648" ukl:CommentaryRef="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd">(9)</ins></num><intro><p><ins class="substitution" ukl:ChangeId="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd-1647280327648" ukl:CommentaryRef="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd">A creditor may at any time apply to the High Court for an order that, in respect of a specified debt—</ins></p></intro><level class="para1" eId="schedule-11-paragraph-1-9-a"><num><ins class="substitution" ukl:ChangeId="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd-1647280327648" ukl:CommentaryRef="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd">(a)</ins></num><content><p><ins class="substitution" ukl:ChangeId="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd-1647280327648" ukl:CommentaryRef="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd">conditions B and C do not apply, or</ins></p></content></level><level class="para1" eId="schedule-11-paragraph-1-9-b"><num><ins class="substitution" ukl:ChangeId="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd-1647280327648" ukl:CommentaryRef="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd">(b)</ins></num><content><p><ins class="substitution" ukl:ChangeId="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd-1647280327648" ukl:CommentaryRef="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd">condition C applies as if the reference to the period of 21 days were to such shorter period as the Court may direct.</ins></p></content></level></subparagraph><subparagraph eId="schedule-11-paragraph-1-10"><num><ins class="substitution" ukl:ChangeId="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd-1647280327648" ukl:CommentaryRef="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd">(10)</ins></num><content><p><ins class="substitution" ukl:ChangeId="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd-1647280327648" ukl:CommentaryRef="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd">Where an order is made under sub-paragraph (9)(a), the references in sub-paragraph (8) to conditions A to C are to be read as references to condition A.</ins></p></content></subparagraph><subparagraph eId="schedule-11-paragraph-1-11"><num><ins class="substitution" ukl:ChangeId="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd-1647280327648" ukl:CommentaryRef="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd">(11)</ins></num><intro><p><ins class="substitution" ukl:ChangeId="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd-1647280327648" ukl:CommentaryRef="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd">If the Court makes an order under sub-paragraph (9)(b) it may—</ins></p></intro><level class="para1" eId="schedule-11-paragraph-1-11-a"><num><ins class="substitution" ukl:ChangeId="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd-1647280327648" ukl:CommentaryRef="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd">(a)</ins></num><content><p><ins class="substitution" ukl:ChangeId="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd-1647280327648" ukl:CommentaryRef="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd">give such directions as to delivery of the written notice referred to in condition B as it thinks fit, or</ins></p></content></level><level class="para1" eId="schedule-11-paragraph-1-11-b"><num><ins class="substitution" ukl:ChangeId="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd-1647280327648" ukl:CommentaryRef="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd">(b)</ins></num><content><p><ins class="substitution" ukl:ChangeId="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd-1647280327648" ukl:CommentaryRef="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd">direct that sub-paragraphs (4) to (6) apply in respect of the delivery of that notice subject to such modifications it thinks fit.</ins></p></content></level></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-11-crossheading-modification-of-insolvency-rules"><heading><ins class="substitution" ukl:ChangeId="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd-1647280327648" ukl:CommentaryRef="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd">Modification of Insolvency Rules</ins></heading><paragraph eId="schedule-11-paragraph-2" class="schProv1"><num><ins class="substitution" ukl:ChangeId="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd-1647280327648" ukl:CommentaryRef="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd">2.</ins></num><subparagraph eId="schedule-11-paragraph-2-1"><num><ins class="substitution" ukl:ChangeId="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd-1647280327648" ukl:CommentaryRef="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd">(1)</ins></num><content><p><ins class="substitution" ukl:ChangeId="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd-1647280327648" ukl:CommentaryRef="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd">This paragraph applies in relation to a petition which is presented by a creditor under Article 104 of the 1989 Order during the relevant period.</ins></p></content></subparagraph><subparagraph eId="schedule-11-paragraph-2-2"><num><ins class="substitution" ukl:ChangeId="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd-1647280327648" ukl:CommentaryRef="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd">(2)</ins></num><content><p><ins class="substitution" ukl:ChangeId="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd-1647280327648" ukl:CommentaryRef="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd">Schedule 2 to the Insolvency Rules has effect as if for Form 4.02 (Winding-up Petition) there were substituted the Form at the end of this Schedule.</ins></p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-11-crossheading-interpretation"><heading><ins class="substitution" ukl:ChangeId="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd-1647280327648" ukl:CommentaryRef="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd">Interpretation</ins></heading><paragraph eId="schedule-11-paragraph-3" class="schProv1"><num><ins class="substitution" ukl:ChangeId="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd-1647280327648" ukl:CommentaryRef="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd">3.</ins></num><subparagraph eId="schedule-11-paragraph-3-1"><num><ins class="substitution" ukl:ChangeId="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd-1647280327648" ukl:CommentaryRef="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd">(1)</ins></num><intro><p><ins class="substitution" ukl:ChangeId="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd-1647280327648" ukl:CommentaryRef="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd">In this Schedule “relevant period” means the period which—</ins></p></intro><level class="para1" eId="schedule-11-paragraph-3-1-a"><num><ins class="substitution" ukl:ChangeId="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd-1647280327648" ukl:CommentaryRef="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd">(a)</ins></num><content><p><ins class="substitution" ukl:ChangeId="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd-1647280327648" ukl:CommentaryRef="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd">begins with 1 October 2021, and</ins></p></content></level><level class="para1" eId="schedule-11-paragraph-3-1-b"><num><ins class="substitution" ukl:ChangeId="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd-1647280327648" ukl:CommentaryRef="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd">(b)</ins></num><content><p><ins class="substitution" ukl:ChangeId="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd-1647280327648" ukl:CommentaryRef="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd">ends with 31 March 2022.</ins></p></content></level></subparagraph><subparagraph eId="schedule-11-paragraph-3-2"><num><ins class="substitution" ukl:ChangeId="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd-1647280327648" ukl:CommentaryRef="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd">(2)</ins></num><intro><p><ins class="substitution" ukl:ChangeId="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd-1647280327648" ukl:CommentaryRef="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd">For the purposes of this Schedule, references to a petition presented by a creditor—</ins></p></intro><level class="para1" eId="schedule-11-paragraph-3-2-a"><num><ins class="substitution" ukl:ChangeId="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd-1647280327648" ukl:CommentaryRef="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd">(a)</ins></num><content><p><ins class="substitution" ukl:ChangeId="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd-1647280327648" ukl:CommentaryRef="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd">do not include a petition presented by one or more creditors together with one or more other persons, but</ins></p></content></level><level class="para1" eId="schedule-11-paragraph-3-2-b"><num><ins class="substitution" ukl:ChangeId="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd-1647280327648" ukl:CommentaryRef="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd">(b)</ins></num><content><p><ins class="substitution" ukl:ChangeId="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd-1647280327648" ukl:CommentaryRef="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd">subject to that, do include a petition presented by more than one creditor, in which case the conditions specified in paragraph 1(2) to (7) must be met in relation to each creditor presenting the petition.</ins></p></content></level></subparagraph><subparagraph eId="schedule-11-paragraph-3-3"><num><ins class="substitution" ukl:ChangeId="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd-1647280327648" ukl:CommentaryRef="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd">(3)</ins></num><intro><p><ins class="substitution" ukl:ChangeId="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd-1647280327648" ukl:CommentaryRef="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd">For the purposes of this Schedule—</ins></p></intro><hcontainer name="definition"><content><p><ins class="substitution" ukl:ChangeId="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd-1647280327648" ukl:CommentaryRef="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd">“the 1989 Order” means the Insolvency (Northern Ireland) Order 1989 (</ins><ref eId="c00001" href="http://www.legislation.gov.uk/id/nisi/1989/2405"><ins class="substitution" ukl:ChangeId="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd-1647280327648" ukl:CommentaryRef="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd">S.I. 1989/2405 (N.I. 19)</ins></ref><ins class="substitution" ukl:ChangeId="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd-1647280327648" ukl:CommentaryRef="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd">);</ins></p></content></hcontainer><hcontainer name="definition"><content><p><ins class="substitution" ukl:ChangeId="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd-1647280327648" ukl:CommentaryRef="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd">“coronavirus” means severe acute respiratory syndrome coronavirus 2 (SARS-Cov-2);</ins></p></content></hcontainer><hcontainer name="definition"><content><p><ins class="substitution" ukl:ChangeId="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd-1647280327648" ukl:CommentaryRef="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd">“excluded debt” means a debt in respect of rent, or any sum or other payment that a tenant is liable to pay, under a relevant business tenancy and which is unpaid by reason of a financial effect of coronavirus;</ins></p></content></hcontainer><hcontainer name="definition"><content><p><ins class="substitution" ukl:ChangeId="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd-1647280327648" ukl:CommentaryRef="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd">“Insolvency Rules” means the Insolvency Rules (Northern Ireland) 1991 (S.R. (N.I.) 1991/364);</ins></p></content></hcontainer><hcontainer name="definition"><content><p><ins class="substitution" ukl:ChangeId="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd-1647280327648" ukl:CommentaryRef="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd">“registered company” means a company registered under the Companies Act 2006 in Northern Ireland;</ins></p></content></hcontainer><hcontainer name="definition"><intro><p><ins class="substitution" ukl:ChangeId="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd-1647280327648" ukl:CommentaryRef="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd">“relevant business tenancy” means—</ins></p></intro><level class="para1"><num>(a)</num><content><p><ins class="substitution" ukl:ChangeId="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd-1647280327648" ukl:CommentaryRef="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd">a tenancy to which the Business Tenancies (Northern Ireland) Order 1996 (</ins><ref eId="c00002" href="http://www.legislation.gov.uk/id/nidsi/1996/725"><ins class="substitution" ukl:ChangeId="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd-1647280327648" ukl:CommentaryRef="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd">S.I. 1996/725 (N.I. 5)</ins></ref><ins class="substitution" ukl:ChangeId="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd-1647280327648" ukl:CommentaryRef="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd">) applies, or</ins></p></content></level><level class="para1"><num>(b)</num><content><p><ins class="substitution" ukl:ChangeId="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd-1647280327648" ukl:CommentaryRef="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd">a tenancy to which that Order would apply if any relevant occupier were the tenant;</ins></p></content></level></hcontainer><hcontainer name="definition"><content><p><ins class="substitution" ukl:ChangeId="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd-1647280327648" ukl:CommentaryRef="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd">“relevant occupier” in relation to a tenancy, means a person, other than the tenant, who lawfully occupies premises which are, or form part of, the property comprised in the tenancy; and</ins></p></content></hcontainer><hcontainer name="definition"><content><p><ins class="substitution" ukl:ChangeId="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd-1647280327648" ukl:CommentaryRef="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd">“unregistered company” has the meaning given in Part 6 of the 1989 Order.</ins></p></content></hcontainer></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-11-crossheading-general"><heading><ins class="substitution" ukl:ChangeId="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd-1647280327648" ukl:CommentaryRef="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd">General</ins></heading><paragraph eId="schedule-11-paragraph-4" class="schProv1"><num><ins class="substitution" ukl:ChangeId="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd-1647280327648" ukl:CommentaryRef="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd">4.</ins></num><subparagraph eId="schedule-11-paragraph-4-1"><num><ins class="substitution" ukl:ChangeId="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd-1647280327648" ukl:CommentaryRef="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd">(1)</ins></num><content><p><ins class="substitution" ukl:ChangeId="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd-1647280327648" ukl:CommentaryRef="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd">The provisions of this Schedule, so far as relating to registered companies, have effect as if they were included in Part 5 of the 1989 Order.</ins></p></content></subparagraph><subparagraph eId="schedule-11-paragraph-4-2"><num><ins class="substitution" ukl:ChangeId="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd-1647280327648" ukl:CommentaryRef="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd">(2)</ins></num><content><p><ins class="substitution" ukl:ChangeId="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd-1647280327648" ukl:CommentaryRef="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd">Sub-paragraph (1) does not apply in relation to paragraph 2 (modification of insolvency rules).</ins></p><tblock class="form"><tblock class="figure"><p><img src="http://www.legislation.gov.uk/ukpga/2020/12/images/ukpga_20200012_en_epp_001.gif" ukl:Width="auto" ukl:Height="auto"/></p></tblock></tblock><tblock class="form"><tblock class="figure"><p><img src="http://www.legislation.gov.uk/ukpga/2020/12/images/ukpga_20200012_en_epp_002.gif" ukl:Width="auto" ukl:Height="auto"/></p></tblock></tblock><tblock class="form"><tblock class="figure"><p><img src="http://www.legislation.gov.uk/ukpga/2020/12/images/ukpga_20200012_en_epp_003.gif" ukl:Width="auto" ukl:Height="auto"/></p></tblock></tblock><p><ins class="substitution last" ukl:ChangeId="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd-1647280327648" ukl:CommentaryRef="M_F_b49f92d0-9992-4160-d839-e51b6c67ecbd"> </ins></p></content></subparagraph></paragraph></hcontainer></hcontainer><hcontainer name="schedule" eId="schedule-12"><num>SCHEDULE 12<authorialNote class="referenceNote"><p>
Section 14</p></authorialNote></num><heading>Protection of supplies of goods and services: Great Britain</heading><part eId="schedule-12-part-1"><num><b>PART 1</b></num><heading>Exclusions</heading><paragraph eId="schedule-12-paragraph-1" class="schProv1"><num>1</num><content><p><mod>In the Insolvency Act 1986, after Schedule 4 insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="unknown" ukl:TargetClass="unknown" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="default"><hcontainer name="schedule"><num>SCHEDULE 4ZZA<authorialNote class="referenceNote"><p>
Section 233B</p></authorialNote></num><heading>Protection of supplies under section 233B: exclusions</heading><part><num><b>PART 1</b></num><heading>Essential supplies</heading><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Essential supplies</i></heading><paragraph class="schProv1"><num>1</num><subparagraph><num>(1)</num><intro><p>Section 233B(3) and (4) do not apply in relation to provision of a contract if—</p></intro><level class="para1"><num>(a)</num><content><p>the company becomes subject to a relevant insolvency procedure as specified in section 233B(2)(b) or (d), and</p></content></level><level class="para1"><num>(b)</num><content><p>the provision of the contract ceases to have effect under section 233A(1).</p></content></level></subparagraph><subparagraph><num>(2)</num><intro><p>Section 233B(7) does not apply in relation to a supply to the company if—</p></intro><level class="para1"><num>(a)</num><content><p>the company becomes subject to a relevant insolvency procedure as specified in section 233B(2)(b) to (f), and</p></content></level><level class="para1"><num>(b)</num><content><p>the supply is a supply mentioned in section 233(3).</p></content></level></subparagraph></paragraph></hcontainer></part><part><num><b>PART 2</b></num><heading>Persons involved in financial services</heading><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Introductory</i></heading><paragraph class="schProv1"><num>2</num><content><p>Section 233B does not apply in relation to a contract for the supply of goods or services to a company (“<term refersTo="#term-the-company">the company</term>”) where any of paragraphs 3 to 11 applies.</p></content></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Insurers</i></heading><paragraph class="schProv1"><num>3</num><subparagraph><num>(1)</num><intro><p>This paragraph applies where either the company or the supplier—</p></intro><level class="para1"><num>(a)</num><content><p>carries on the regulated activity of effecting or carrying out contracts of insurance, and</p></content></level><level class="para1"><num>(b)</num><content><p>is not an exempt person in relation to that activity.</p></content></level></subparagraph><subparagraph><num>(2)</num><intro><p>In this paragraph—</p></intro><hcontainer name="definition"><content><p>“<term refersTo="#term-exempt-person">exempt person</term>”, in relation to a regulated activity, has the meaning given by section 417 of the Financial Services and Markets Act 2000;</p></content></hcontainer><hcontainer name="definition"><content><p>“<term refersTo="#term-regulated-activity">regulated activity</term>” has the meaning given by section 22 of that Act, taken with Schedule 2 to that Act and any order under that section.</p></content></hcontainer></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Banks</i></heading><paragraph class="schProv1"><num>4</num><subparagraph><num>(1)</num><intro><p>This paragraph applies where either the company or the supplier—</p></intro><level class="para1"><num>(a)</num><content><p>has permission under Part 4A of the Financial Services and Markets Act 2000 to carry on the regulated activity of accepting deposits,</p></content></level><level class="para1"><num>(b)</num><content><p>is a banking group company within the meaning of Part 1 of the Banking Act 2009 (see section 81D of that Act), or</p></content></level><level class="para1"><num>(c)</num><content><p>has a liability in respect of a deposit which it accepted in accordance with the Banking Act 1979 or the Banking Act 1987.</p></content></level></subparagraph><subparagraph><num>(2)</num><content><p>In sub-paragraph (1)(a) “<term refersTo="#term-regulated-activity">regulated activity</term>” has the meaning given by section 22 of the Financial Services and Markets Act 2000 2000, taken with Schedule 2 to that Act and any order under that section.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Electronic money institutions</i></heading><paragraph class="schProv1"><num>5</num><content><p>This paragraph applies where either the company or the supplier is an electronic money institution within the meaning of the Electronic Money Regulations 2011 (S.I. 2011/99) (see regulation 2 of those Regulations).</p></content></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Investment banks and investment firms</i></heading><paragraph class="schProv1"><num>6</num><subparagraph><num>(1)</num><content><p>This paragraph applies where either the company or the supplier is an investment bank or an investment firm.</p></content></subparagraph><subparagraph><num>(2)</num><intro><p>In this paragraph—</p></intro><hcontainer name="definition"><intro><p>“<term refersTo="#term-investment-bank">investment bank</term>” means a company or other entity that has permission under Part 4A of the Financial Services and Markets Act 2000 to carry on the regulated activity of—</p></intro><level class="para1"><num>(a)</num><content><p>safeguarding and administering investments,</p></content></level><level class="para1"><num>(b)</num><content><p>managing an AIF or a UCITS,</p></content></level><level class="para1"><num>(c)</num><content><p>acting as trustee or depositary of an AIF or a UCITS,</p></content></level><level class="para1"><num>(d)</num><content><p>dealing in investments as principal, or</p></content></level><level class="para1"><num>(e)</num><content><p>dealing in investments as agent;</p></content></level></hcontainer><hcontainer name="definition"><content><p>“<term refersTo="#term-investment-firm">investment firm</term>” has the same meaning as in the Banking Act 2009 (see section 258A of that Act), disregarding any order made under section 258A(2)(b) of that Act;</p></content></hcontainer><hcontainer name="definition"><content><p>“<term refersTo="#term-regulated-activity">regulated activity</term>” has the meaning given by section 22 of the Financial Services and Markets Act 2000, taken with Schedule 2 to that Act and any order under that section.</p></content></hcontainer></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Payment institutions</i></heading><paragraph class="schProv1"><num>7</num><content><p>This paragraph applies where either the company or the supplier is an authorised payment institution, a small payment institution or a registered account information service provider within the meaning of the Payment Services Regulations 2017 (S.I. 2017/752) (see regulation 2 of those Regulations).</p></content></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Operators of payment systems, infrastructure providers etc</i></heading><paragraph class="schProv1"><num>8</num><intro><p>This paragraph applies where either the company or the supplier is—</p></intro><level class="para1"><num>(a)</num><content><p>the operator of a payment system or an infrastructure provider within the meaning of Part 5 of the Financial Services (Banking Reform) Act 2013 (see section 42 of that Act), or</p></content></level><level class="para1"><num>(b)</num><content><p>an infrastructure company within the meaning of Part 6 of that Act (see section 112 of that Act).</p></content></level></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Recognised investment exchanges etc</i></heading><paragraph class="schProv1"><num>9</num><content><p>This paragraph applies where either the company or the supplier is a recognised investment exchange, a recognised clearing house or a recognised CSD within the meaning of the Financial Services and Markets Act 2000 (see section 285 of that Act).</p></content></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Securitisation companies</i></heading><paragraph class="schProv1"><num>10</num><content><p>This paragraph applies where either the company or the supplier is a securitisation company within the meaning of the Taxation of Securitisation Companies Regulations 2006 (S.I. 2006/3296) (see regulation 4 of those Regulations).</p></content></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Overseas activities</i></heading><paragraph class="schProv1"><num>11</num><content><p>This paragraph applies where either the company or the supplier does or has done anything outside the United Kingdom which, if done in the United Kingdom, would cause any of the preceding paragraphs of this Part of this Schedule to apply.</p></content></paragraph></hcontainer></part><part><num><b>PART 3</b></num><heading>Contracts involving financial services</heading><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Introductory</i></heading><paragraph class="schProv1"><num>12</num><content><p>To the extent that anything to which any of paragraphs 13 to 18 applies is a contract for the supply of goods or services, section 233B does not apply in relation to it.</p></content></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Financial contracts</i></heading><paragraph class="schProv1"><num>13</num><subparagraph><num>(1)</num><content><p>This paragraph applies to a financial contract.</p></content></subparagraph><subparagraph><num>(2)</num><intro><p>“<term refersTo="#term-financial-contract">Financial contract</term>” means—</p></intro><level class="para1"><num>(a)</num><intro><p>a contract for the provision of financial services consisting of—</p></intro><level class="para2"><num>(i)</num><content><p>lending (including the factoring and financing of commercial transactions),</p></content></level><level class="para2"><num>(ii)</num><content><p>financial leasing, or</p></content></level><level class="para2"><num>(iii)</num><content><p>providing guarantees or commitments;</p></content></level></level><level class="para1"><num>(b)</num><intro><p>a securities contract, including—</p></intro><level class="para2"><num>(i)</num><content><p>a contract for the purchase, sale or loan of a security or group or index of securities;</p></content></level><level class="para2"><num>(ii)</num><content><p>an option on a security or group or index of securities;</p></content></level><level class="para2"><num>(iii)</num><content><p>a repurchase or reverse repurchase transaction on any such security, group or index;</p></content></level></level><level class="para1"><num>(c)</num><intro><p>a commodities contract, including—</p></intro><level class="para2"><num>(i)</num><content><p>a contract for the purchase, sale or loan of a commodity or group or index of commodities for future delivery;</p></content></level><level class="para2"><num>(ii)</num><content><p>an option on a commodity or group or index of commodities;</p></content></level><level class="para2"><num>(iii)</num><content><p>a repurchase or reverse repurchase transaction on any such commodity, group or index;</p></content></level></level><level class="para1"><num>(d)</num><content><p>a futures or forwards contract, including a contract (other than a commodities contract) for the purchase, sale or transfer of a commodity or property of any other description, service, right or interest for a specified price at a future date;</p></content></level><level class="para1"><num>(e)</num><intro><p>a swap agreement, including—</p></intro><level class="para2"><num>(i)</num><content><p>a swap or option relating to interest rates, spot or other foreign exchange agreements, currency, an equity index or equity, a debt index or debt, commodity indexes or commodities, weather, emissions or inflation;</p></content></level><level class="para2"><num>(ii)</num><content><p>a total return, credit spread or credit swap;</p></content></level><level class="para2"><num>(iii)</num><content><p>any agreement or transaction similar to an agreement that is referred to in sub-paragraph (i) or (ii) and is the subject of recurrent dealing in the swaps or derivatives markets;</p></content></level></level><level class="para1"><num>(f)</num><content><p>an inter-bank borrowing agreement where the term of the borrowing is three months or less;</p></content></level><level class="para1"><num>(g)</num><content><p>a master agreement for any of the contracts or agreements referred to in paragraphs (a) to (f).</p></content></level></subparagraph><subparagraph><num>(3)</num><intro><p>For the purposes of this paragraph “<term refersTo="#term-commodities">commodities</term>” includes—</p></intro><level class="para1"><num>(a)</num><content><p>units recognised for compliance with the requirements of EU Directive <ref eId="c00003" href="http://www.legislation.gov.uk/european/directive/2003/0087">2003/87/EC</ref> establishing a scheme for greenhouse gas emission allowance trading,</p></content></level><level class="para1"><num>(b)</num><content><p>allowances under paragraph 5 of Schedule 2 to the Climate Change Act 2008 relating to a trading scheme dealt with under Part 1 of that Schedule (schemes limiting activities relating to emissions of greenhouse gas), and</p></content></level><level class="para1"><num>(c)</num><intro><p>renewables obligation certificates issued—</p></intro><level class="para2"><num>(i)</num><content><p>by the Gas and Electricity Markets Authority under an order made under section 32B of the Electricity Act 1989, or</p></content></level><level class="para2"><num>(ii)</num><content><p>by the Northern Ireland Authority for Utility Regulation under the Energy (Northern Ireland) Order 2003 (S.I. 2003/419 (N.I. 6)) and pursuant to an order made under Articles 52 to 55F of that Order.</p></content></level></level></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Securities financing transactions</i></heading><paragraph class="schProv1"><num>14</num><subparagraph><num>(1)</num><intro><p>This paragraph applies to—</p></intro><level class="para1"><num>(a)</num><content><p>a securities financing transaction, and</p></content></level><level class="para1"><num>(b)</num><content><p>a master agreement for securities financing transactions.</p></content></level></subparagraph><subparagraph><num>(2)</num><content><p>“<term refersTo="#term-securities-financing-transaction">Securities financing transaction</term>” has the meaning given by Article 3(11) of <ref href="http://www.legislation.gov.uk/european/regulation/2015/2365">Regulation (EU) 2015/2365</ref> on the transparency of securities financing transactions.</p></content></subparagraph><subparagraph><num>(3)</num><content><p>But for the purposes of that Article as it applies for the purposes of this paragraph, references to “commodities” in that Regulation are to be taken as including the units, allowances and certificates referred to in paragraph 13(3)(a) to (c).</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Derivatives</i></heading><paragraph class="schProv1"><num>15</num><subparagraph><num>(1)</num><intro><p>This paragraph applies to—</p></intro><level class="para1"><num>(a)</num><content><p>a derivative, and</p></content></level><level class="para1"><num>(b)</num><content><p>a master agreement for derivatives.</p></content></level></subparagraph><subparagraph><num>(2)</num><content><p>“<term refersTo="#term-derivative">Derivative</term>” has the meaning given by Article 2(5) of <ref href="http://www.legislation.gov.uk/european/regulation/2012/0648">Regulation (EU) No. 648/2012</ref>.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Spot contracts</i></heading><paragraph class="schProv1"><num>16</num><subparagraph><num>(1)</num><intro><p>This paragraph applies to—</p></intro><level class="para1"><num>(a)</num><content><p>a spot contract, and</p></content></level><level class="para1"><num>(b)</num><content><p>a master agreement for spot contracts.</p></content></level></subparagraph><subparagraph><num>(2)</num><content><p>“<term refersTo="#term-spot-contract">Spot contract</term>” has the meaning given by Article 7(2) or 10(2) of Commission Delegated Regulation of 25.4.2016 supplementing <ref href="http://www.legislation.gov.uk/european/directive/2014/0065">Directive 2014/65/EU</ref> of the European Parliament and of the Council as regards organisational requirements and operating conditions for investment firms and defined terms for the purposes of that Directive.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Capital market investments</i></heading><paragraph class="schProv1"><num>17</num><subparagraph><num>(1)</num><content><p>This paragraph applies to an agreement which is, or forms part of, an arrangement involving the issue of a capital market investment.</p></content></subparagraph><subparagraph><num>(2)</num><content><p>“<term refersTo="#term-capital-market-investment">Capital market investment</term>” has the meaning given by paragraph 14 of Schedule ZA1.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Contracts forming part of a public-private partnership</i></heading><paragraph class="schProv1"><num>18</num><content><p>This paragraph applies to a contract forming part of a public-private partnership project within the meaning given by paragraph 16 of Schedule ZA1.</p></content></paragraph></hcontainer></part><part><num><b>PART 4</b></num><heading>Other exclusions</heading><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Financial markets and insolvency</i></heading><paragraph class="schProv1"><num>19</num><intro><p>Nothing in section 233B affects the operation of—</p></intro><level class="para1"><num>(a)</num><content><p>Part 7 of the Companies Act 1989 (financial markets and insolvency),</p></content></level><level class="para1"><num>(b)</num><content><p>the Financial Markets and Insolvency Regulations 1996 (S.I. 1996/1469),</p></content></level><level class="para1"><num>(c)</num><content><p>the Financial Markets and Insolvency (Settlement Finality) Regulations 1999 (S.I. 1999/2979), or</p></content></level><level class="para1"><num>(d)</num><content><p>the Financial Collateral Arrangements (No.2) Regulations 2003 (S.I. 2003/3226).</p></content></level></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Set-off and netting</i></heading><paragraph class="schProv1"><num>20</num><content><p>Nothing in section 233B affects any set-off or netting arrangements (within the meanings given by section 48(1)(c) and (d) of the Banking Act 2009).</p></content></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Aircraft equipment</i></heading><paragraph class="schProv1"><num>21</num><content><p>Nothing in section 233B affects the International Interests in Aircraft Equipment (Cape Town Convention) Regulations 2015 (S.I. 2015/912).</p></content></paragraph></hcontainer></part></hcontainer></quotedStructure></mod></p></content></paragraph></part><part eId="schedule-12-part-2"><num><b>PART 2</b></num><heading>Consequential amendments</heading><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-12-part-2-crossheading-amendments-to-acts"><heading><i>Amendments to Acts</i></heading><paragraph eId="schedule-12-paragraph-2" class="schProv1"><num>2</num><content><p><mod>In Schedule 15 to the Building Societies Act 1986 (application of companies winding up legislation to building societies), after paragraph 32 insert—<quotedStructure startQuote="“" endQuote="”" uk:context="schedule" uk:docName="unknown" ukl:TargetClass="unknown" ukl:TargetSubClass="unknown" ukl:Context="schedule" ukl:Format="default"><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Protection of supplies</i></heading><paragraph class="schProv1"><num>32A</num><content><p>Section 233B of the Act (protection of supplies of goods and services) does not apply.</p></content></paragraph></hcontainer></quotedStructure></mod></p></content></paragraph><paragraph eId="schedule-12-paragraph-3" class="schProv1"><num>3</num><content><p><mod>In Schedule 15A to the Building Societies Act 1986 (application of other companies insolvency legislation to building societies), after paragraph 27F insert—<quotedStructure startQuote="“" endQuote="”" uk:context="schedule" uk:docName="unknown" ukl:TargetClass="unknown" ukl:TargetSubClass="unknown" ukl:Context="schedule" ukl:Format="default"><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Protection of supplies</i></heading><paragraph class="schProv1"><num>27FA</num><content><p>Section 233B of the Act (protection of supplies of goods and services) is omitted.</p></content></paragraph></hcontainer></quotedStructure></mod></p></content></paragraph><paragraph eId="schedule-12-paragraph-4" class="schProv1"><num>4</num><content><p><mod>In Schedule 10 to the Friendly Societies Act 1992 (application of companies winding up legislation to friendly societies), after paragraph 35 insert—<quotedStructure startQuote="“" endQuote="”" uk:context="schedule" uk:docName="unknown" ukl:TargetClass="unknown" ukl:TargetSubClass="unknown" ukl:Context="schedule" ukl:Format="default"><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Protection of supplies</i></heading><paragraph class="schProv1"><num>35A</num><content><p>Section 233B of the Act (protection of supplies of goods and services) does not apply.</p></content></paragraph></hcontainer></quotedStructure></mod></p></content></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-12-part-2-crossheading-amendments-to-subordinate-legislation"><heading><i>Amendments to subordinate legislation</i></heading><paragraph eId="schedule-12-paragraph-5" class="schProv1"><num>5</num><content><p><mod>In the Insolvent Partnerships Order 1994 (S.I. 1994/2421), in article 4(3)(a), for “section 233 and section 233A” substitute <quotedText>“
sections 233, 233A and 233B and Schedule 4ZZA
”</quotedText>.</mod></p></content></paragraph><paragraph eId="schedule-12-paragraph-6" class="schProv1"><num>6</num><content><p><mod>In Schedule 4 to the Limited Liability Partnerships Regulations 2001 (S.I. 2001/1090) (disapplications for Scotland), after the entry relating to section 233A insert— <quotedText>“
Section 233B to the extent that that section applies in the case of the appointment of an administrative receiver.
”</quotedText></mod></p></content></paragraph><paragraph eId="schedule-12-paragraph-7" class="schProv1"><num>7</num><content><p><mod>In Schedule 2 to the Limited Liability Partnerships (Scotland) Regulations 2001 (S.S.I. 2001/128), after the entry relating to section 233A insert— <quotedText>“
Section 233B to the extent that that section applies in the case of the appointment of an administrative receiver.
”</quotedText></mod></p></content></paragraph><paragraph eId="schedule-12-paragraph-8" class="schProv1"><num>8</num><content><p><mod>In Schedule 3 to the Co-operative and Community Benefit Societies and Credit Unions (Arrangements, Reconstructions and Administration) Order 2014 (S.I. 2014/229), after paragraph 3 insert—<quotedStructure startQuote="“" endQuote="”" uk:context="schedule" uk:docName="unknown" ukl:TargetClass="unknown" ukl:TargetSubClass="unknown" ukl:Context="schedule" ukl:Format="default"><paragraph class="schProv1"><num>3A</num><content><p>Section 233B (protection of supplies of goods and services) does not apply in relation to a registered society that is registered as a credit union.</p></content></paragraph></quotedStructure></mod></p></content></paragraph></hcontainer></part></hcontainer><hcontainer name="schedule" eId="schedule-13"><num>SCHEDULE 13<authorialNote class="referenceNote"><p>
Section 18</p></authorialNote></num><heading>Protection of supplies of goods and services: Northern Ireland</heading><part eId="schedule-13-part-1"><num><b>PART 1</b></num><heading>Exclusions</heading><paragraph eId="schedule-13-paragraph-1" class="schProv1"><num>1</num><content><p><mod>After Schedule 2 to the Insolvency (Northern Ireland) Order 1989 insert—<quotedStructure startQuote="“" endQuote="”" uk:context="body" uk:docName="unknown" ukl:TargetClass="unknown" ukl:TargetSubClass="unknown" ukl:Context="main" ukl:Format="default"><hcontainer name="schedule"><num>SCHEDULE 2ZZA<authorialNote class="referenceNote"><p>
Article 197B</p></authorialNote></num><heading>Protection of supplies under Article 197B: exclusions</heading><part><num><b>PART 1</b></num><heading>Essential supplies</heading><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Essential supplies</i></heading><paragraph class="schProv1"><num>1</num><subparagraph><num>(1)</num><intro><p>Article 197B(3) and (4) do not apply in relation to provision of a contract if—</p></intro><level class="para1"><num>(a)</num><content><p>the company becomes subject to a relevant insolvency procedure as specified in Article 197B(2)(b) or (d), and</p></content></level><level class="para1"><num>(b)</num><content><p>the provision of the contract ceases to have effect under Article 197A(1).</p></content></level></subparagraph><subparagraph><num>(2)</num><intro><p>Article 197B(7) does not apply in relation to a supply to the company if—</p></intro><level class="para1"><num>(a)</num><content><p>the company becomes subject to a relevant insolvency procedure as specified in Article 197B(2)(b) to (f), and</p></content></level><level class="para1"><num>(b)</num><content><p>the supply is a supply mentioned in Article 197(3).</p></content></level></subparagraph></paragraph></hcontainer></part><part><num><b>PART 2</b></num><heading>Persons involved in financial services</heading><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Introductory</i></heading><paragraph class="schProv1"><num>2</num><content><p>Article 197B does not apply in relation to a contract for the supply of goods or services to a company (“<term refersTo="#term-the-company">the company</term>”) where any of paragraphs 3 to 11 applies.</p></content></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Insurers</i></heading><paragraph class="schProv1"><num>3</num><subparagraph><num>(1)</num><intro><p>This paragraph applies where either the company or the supplier—</p></intro><level class="para1"><num>(a)</num><content><p>carries on the regulated activity of effecting or carrying out contracts of insurance, and</p></content></level><level class="para1"><num>(b)</num><content><p>is not an exempt person in relation to that activity.</p></content></level></subparagraph><subparagraph><num>(2)</num><intro><p>In this paragraph—</p></intro><hcontainer name="definition"><content><p>“<term refersTo="#term-exempt-person">exempt person</term>”, in relation to a regulated activity, has the meaning given by section 417 of the Financial Services and Markets Act 2000;</p></content></hcontainer><hcontainer name="definition"><content><p>“<term refersTo="#term-regulated-activity">regulated activity</term>” has the meaning given by section 22 of that Act, taken with Schedule 2 to that Act and any order under that section.</p></content></hcontainer></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Banks</i></heading><paragraph class="schProv1"><num>4</num><subparagraph><num>(1)</num><intro><p>This paragraph applies where either the company or the supplier—</p></intro><level class="para1"><num>(a)</num><content><p>has permission under Part 4A of the Financial Services and Markets Act 2000 to carry on the regulated activity of accepting deposits,</p></content></level><level class="para1"><num>(b)</num><content><p>is a banking group company within the meaning of Part 1 of the Banking Act 2009 (see section 81D of that Act), or</p></content></level><level class="para1"><num>(c)</num><content><p>has a liability in respect of a deposit which it accepted in accordance with the Banking Act 1979 or the Banking Act 1987.</p></content></level></subparagraph><subparagraph><num>(2)</num><content><p>In sub-paragraph (1)(a) “<term refersTo="#term-regulated-activity">regulated activity</term>” has the meaning given by section 22 of the Financial Services and Markets Act 2000 2000, taken with Schedule 2 to that Act and any order under that section.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Electronic money institutions</i></heading><paragraph class="schProv1"><num>5</num><content><p>This paragraph applies where either the company or the supplier is an electronic money institution within the meaning of the Electronic Money Regulations 2011 (S.I. 2011/99) (see regulation 2 of those Regulations).</p></content></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Investment banks and investment firms</i></heading><paragraph class="schProv1"><num>6</num><subparagraph><num>(1)</num><content><p>This paragraph applies where either the company or the supplier is an investment bank or an investment firm.</p></content></subparagraph><subparagraph><num>(2)</num><intro><p>In this paragraph—</p></intro><hcontainer name="definition"><intro><p>“<term refersTo="#term-investment-bank">investment bank</term>” means a company or other entity that has permission under Part 4A of the Financial Services and Markets Act 2000 to carry on the regulated activity of—</p></intro><level class="para1"><num>(a)</num><content><p>safeguarding and administering investments,</p></content></level><level class="para1"><num>(b)</num><content><p>managing an AIF or a UCITS,</p></content></level><level class="para1"><num>(c)</num><content><p>acting as trustee or depositary of an AIF or a UCITS,</p></content></level><level class="para1"><num>(d)</num><content><p>dealing in investments as principal, or</p></content></level><level class="para1"><num>(e)</num><content><p>dealing in investments as agent;</p></content></level></hcontainer><hcontainer name="definition"><content><p>“<term refersTo="#term-investment-firm">investment firm</term>” has the same meaning as in the Banking Act 2009 (see section 258A of that Act), disregarding any order made under section 258A(2)(b) of that Act;</p></content></hcontainer><hcontainer name="definition"><content><p>“<term refersTo="#term-regulated-activity">regulated activity</term>” has the meaning given by section 22 of the Financial Services and Markets Act 2000, taken with Schedule 2 to that Act and any order under that section.</p></content></hcontainer></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Payment institutions</i></heading><paragraph class="schProv1"><num>7</num><content><p>This paragraph applies where either the company or the supplier is an authorised payment institution, a small payment institution or a registered account information service provider within the meaning of the Payment Services Regulations 2017 (S.I. 2017/752) (see regulation 2 of those Regulations).</p></content></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Operators of payment systems, infrastructure providers etc</i></heading><paragraph class="schProv1"><num>8</num><intro><p>This paragraph applies where either the company or the supplier is—</p></intro><level class="para1"><num>(a)</num><content><p>the operator of a payment system or an infrastructure provider within the meaning of Part 5 of the Financial Services (Banking Reform) Act 2013 (see section 42 of that Act), or</p></content></level><level class="para1"><num>(b)</num><content><p>an infrastructure company within the meaning of Part 6 of that Act (see section 112 of that Act).</p></content></level></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Recognised investment exchanges etc</i></heading><paragraph class="schProv1"><num>9</num><content><p>This paragraph applies where either the company or the supplier is a recognised investment exchange, a recognised clearing house or a recognised CSD within the meaning of the Financial Services and Markets Act 2000 (see section 285 of that Act).</p></content></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Securitisation companies</i></heading><paragraph class="schProv1"><num>10</num><content><p>This paragraph applies where either the company or the supplier is a securitisation company within the meaning of the Taxation of Securitisation Companies Regulations 2006 (S.I. 2006/3296) (see regulation 4 of those Regulations).</p></content></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Overseas activities</i></heading><paragraph class="schProv1"><num>11</num><content><p>This paragraph applies where either the company or the supplier does or has done anything outside the United Kingdom which, if done in the United Kingdom, would cause any of the preceding paragraphs of this Part of this Schedule to apply.</p></content></paragraph></hcontainer></part><part><num><b>PART 3</b></num><heading>Contracts involving financial services</heading><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Introductory</i></heading><paragraph class="schProv1"><num>12</num><content><p>To the extent that anything to which any of paragraphs 13 to 18 applies is a contract for the supply of goods or services, Article 197B does not apply in relation to it.</p></content></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Financial contracts</i></heading><paragraph class="schProv1"><num>13</num><subparagraph><num>(1)</num><content><p>This paragraph applies to a financial contract.</p></content></subparagraph><subparagraph><num>(2)</num><intro><p>“<term refersTo="#term-financial-contract">Financial contract</term>” means—</p></intro><level class="para1"><num>(a)</num><intro><p>a contract for the provision of financial services consisting of—</p></intro><level class="para2"><num>(i)</num><content><p>lending (including the factoring and financing of commercial transactions),</p></content></level><level class="para2"><num>(ii)</num><content><p>financial leasing, or</p></content></level><level class="para2"><num>(iii)</num><content><p>providing guarantees or commitments;</p></content></level></level><level class="para1"><num>(b)</num><intro><p>a securities contract, including—</p></intro><level class="para2"><num>(i)</num><content><p>a contract for the purchase, sale or loan of a security or group or index of securities;</p></content></level><level class="para2"><num>(ii)</num><content><p>an option on a security or group or index of securities;</p></content></level><level class="para2"><num>(iii)</num><content><p>a repurchase or reverse repurchase transaction on any such security, group or index;</p></content></level></level><level class="para1"><num>(c)</num><intro><p>a commodities contract, including—</p></intro><level class="para2"><num>(i)</num><content><p>a contract for the purchase, sale or loan of a commodity or group or index of commodities for future delivery;</p></content></level><level class="para2"><num>(ii)</num><content><p>an option on a commodity or group or index of commodities;</p></content></level><level class="para2"><num>(iii)</num><content><p>a repurchase or reverse repurchase transaction on any such commodity, group or index;</p></content></level></level><level class="para1"><num>(d)</num><content><p>a futures or forwards contract, including a contract (other than a commodities contract) for the purchase, sale or transfer of a commodity or property of any other description, service, right or interest for a specified price at a future date;</p></content></level><level class="para1"><num>(e)</num><intro><p>a swap agreement, including—</p></intro><level class="para2"><num>(i)</num><content><p>a swap or option relating to interest rates, spot or other foreign exchange agreements, currency, an equity index or equity, a debt index or debt, commodity indexes or commodities, weather, emissions or inflation;</p></content></level><level class="para2"><num>(ii)</num><content><p>a total return, credit spread or credit swap;</p></content></level><level class="para2"><num>(iii)</num><content><p>any agreement or transaction similar to an agreement that is referred to in sub-paragraph (i) or (ii) and is the subject of recurrent dealing in the swaps or derivatives markets;</p></content></level></level><level class="para1"><num>(f)</num><content><p>an inter-bank borrowing agreement where the term of the borrowing is three months or less;</p></content></level><level class="para1"><num>(g)</num><content><p>a master agreement for any of the contracts or agreements referred to in paragraphs (a) to (f).</p></content></level></subparagraph><subparagraph><num>(3)</num><intro><p>For the purposes of this paragraph “<term refersTo="#term-commodities">commodities</term>” includes—</p></intro><level class="para1"><num>(a)</num><content><p>units recognised for compliance with the requirements of EU Directive <ref eId="c00004" href="http://www.legislation.gov.uk/european/directive/2003/0087">2003/87/EC</ref> establishing a scheme for greenhouse gas emission allowance trading,</p></content></level><level class="para1"><num>(b)</num><content><p>allowances under paragraph 5 of Schedule 2 to the Climate Change Act 2008 relating to a trading scheme dealt with under Part 1 of that Schedule (schemes limiting activities relating to emissions of greenhouse gas), and</p></content></level><level class="para1"><num>(c)</num><intro><p>renewables obligation certificates issued—</p></intro><level class="para2"><num>(i)</num><content><p>by the Gas and Electricity Markets Authority under an order made under section 32B of the Electricity Act 1989, or</p></content></level><level class="para2"><num>(ii)</num><content><p>by the Northern Ireland Authority for Utility Regulation under the Energy (Northern Ireland) Order 2003 (S.I. 2003/419 (N.I. 6)) and pursuant to an order made under Articles 52 to 55F of that Order.</p></content></level></level></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Securities financing transactions</i></heading><paragraph class="schProv1"><num>14</num><subparagraph><num>(1)</num><intro><p>This paragraph applies to—</p></intro><level class="para1"><num>(a)</num><content><p>a securities financing transaction, and</p></content></level><level class="para1"><num>(b)</num><content><p>a master agreement for securities financing transactions.</p></content></level></subparagraph><subparagraph><num>(2)</num><content><p>“<term refersTo="#term-securities-financing-transaction">Securities financing transaction</term>” has the meaning given by Article 3(11) of <ref href="http://www.legislation.gov.uk/european/regulation/2015/2365">Regulation (EU) 2015/2365</ref> on the transparency of securities financing transactions.</p></content></subparagraph><subparagraph><num>(3)</num><content><p>But for the purposes of that Article as it applies for the purposes of this paragraph, references to “commodities” in that Regulation are to be taken as including the units, allowances and certificates referred to in paragraph 13(3)(a) to (c).</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Derivatives</i></heading><paragraph class="schProv1"><num>15</num><subparagraph><num>(1)</num><intro><p>This paragraph applies to—</p></intro><level class="para1"><num>(a)</num><content><p>a derivative, and</p></content></level><level class="para1"><num>(b)</num><content><p>a master agreement for derivatives.</p></content></level></subparagraph><subparagraph><num>(2)</num><content><p>“<term refersTo="#term-derivative">Derivative</term>” has the meaning given by Article 2(5) of <ref href="http://www.legislation.gov.uk/european/regulation/2012/0648">Regulation (EU) No. 648/2012</ref>.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Spot contracts</i></heading><paragraph class="schProv1"><num>16</num><subparagraph><num>(1)</num><intro><p>This paragraph applies to—</p></intro><level class="para1"><num>(a)</num><content><p>a spot contract, and</p></content></level><level class="para1"><num>(b)</num><content><p>a master agreement for spot contracts.</p></content></level></subparagraph><subparagraph><num>(2)</num><content><p>“<term refersTo="#term-spot-contract">Spot contract</term>” has the meaning given by Article 7(2) or 10(2) of Commission Delegated Regulation of 25.4.2016 supplementing <ref href="http://www.legislation.gov.uk/european/directive/2014/0065">Directive 2014/65/EU</ref> of the European Parliament and of the Council as regards organisational requirements and operating conditions for investment firms and defined terms for the purposes of that Directive.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Capital market investments</i></heading><paragraph class="schProv1"><num>17</num><subparagraph><num>(1)</num><content><p>This paragraph applies to an agreement which is, or forms part of, an arrangement involving the issue of a capital market investment.</p></content></subparagraph><subparagraph><num>(2)</num><content><p>“<term refersTo="#term-capital-market-investment">Capital market investment</term>” has the meaning given by paragraph 14 of Schedule ZA1.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Contracts forming part of a public-private partnership</i></heading><paragraph class="schProv1"><num>18</num><content><p>This paragraph applies to a contract forming part of a public-private partnership project within the meaning given by paragraph 16 of Schedule ZA1.</p></content></paragraph></hcontainer></part><part><num><b>PART 4</b></num><heading>Other exclusions</heading><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Financial markets and insolvency</i></heading><paragraph class="schProv1"><num>19</num><intro><p>Nothing in Article 197B affects the operation of—</p></intro><level class="para1"><num>(a)</num><content><p>Part 5 of the Companies (No. 2) (Northern Ireland) Order 1990 (financial markets and insolvency),</p></content></level><level class="para1"><num>(b)</num><content><p>the Financial Markets and Insolvency Regulations (Northern Ireland) 1996 (S.R. 1996/252),</p></content></level><level class="para1"><num>(c)</num><content><p>the Financial Markets and Insolvency (Settlement Finality) Regulations 1999 (S.I. 1999/2979), or</p></content></level><level class="para1"><num>(d)</num><content><p>the Financial Collateral Arrangements (No.2) Regulations 2003 (S.I. 2003/3226).</p></content></level></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Set-off and netting</i></heading><paragraph class="schProv1"><num>20</num><content><p>Nothing in Article 197B affects any set-off or netting arrangements (within the meanings given by section 48(1)(c) and (d) of the Banking Act 2009).</p></content></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Aircraft equipment</i></heading><paragraph class="schProv1"><num>21</num><content><p>Nothing in Article 197B affects the International Interests in Aircraft Equipment (Cape Town Convention) Regulations 2015 (S.I. 2015/912).</p></content></paragraph></hcontainer></part></hcontainer></quotedStructure></mod></p></content></paragraph></part><part eId="schedule-13-part-2"><num><b>PART 2</b></num><heading>Consequential amendments</heading><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-13-part-2-crossheading-amendments-to-acts"><heading><i>Amendments to Acts</i></heading><paragraph eId="schedule-13-paragraph-2" class="schProv1"><num>2</num><content><p><mod>In Schedule 15 to the Building Societies Act 1986 (application of companies winding up legislation to building societies), after paragraph 55D insert—<quotedStructure startQuote="“" endQuote="”" uk:context="schedule" uk:docName="unknown" ukl:TargetClass="unknown" ukl:TargetSubClass="unknown" ukl:Context="schedule" ukl:Format="default"><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Protection of supplies</i></heading><paragraph class="schProv1"><num>55DA</num><content><p>Article 197B (protection of supplies of goods and services) does not apply.</p></content></paragraph></hcontainer></quotedStructure></mod></p></content></paragraph><paragraph eId="schedule-13-paragraph-3" class="schProv1"><num>3</num><content><p><mod>In Schedule 15A to the Building Societies Act 1986 (application of other companies insolvency legislation to building societies), after paragraph 52 insert—<quotedStructure startQuote="“" endQuote="”" uk:context="schedule" uk:docName="unknown" ukl:TargetClass="unknown" ukl:TargetSubClass="unknown" ukl:Context="schedule" ukl:Format="default"><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Protection of supplies</i></heading><paragraph class="schProv1"><num>52A</num><content><p>Article 197B of the Order (protection of supplies of goods and services) is omitted.</p></content></paragraph></hcontainer></quotedStructure></mod></p></content></paragraph><paragraph eId="schedule-13-paragraph-4" class="schProv1"><num>4</num><content><p><mod>In Schedule 10 to the Friendly Societies Act 1992 (application of companies winding up legislation to friendly societies), after paragraph 65 insert—<quotedStructure startQuote="“" endQuote="”" uk:context="schedule" uk:docName="unknown" ukl:TargetClass="unknown" ukl:TargetSubClass="unknown" ukl:Context="schedule" ukl:Format="default"><hcontainer name="crossheading" ukl:Name="Pblock"><heading><i>Protection of supplies</i></heading><paragraph class="schProv1"><num>65A</num><content><p>Article 197B of the Order (protection of supplies of goods and services) does not apply.</p></content></paragraph></hcontainer></quotedStructure></mod></p></content></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-13-part-2-crossheading-amendment-to-subordinate-legislation"><heading><i>Amendment to subordinate legislation</i></heading><paragraph eId="schedule-13-paragraph-5" class="schProv1"><num>5</num><content><p><mod>In the Insolvent Partnerships Order (Northern Ireland) 1995 (S.R. (N.I.) 1995/225), in article 4(3)(b), for “Article 197” substitute <quotedText>“
Articles 197 to 197B
”</quotedText>.</mod></p></content></paragraph></hcontainer></part></hcontainer><hcontainer name="schedule" eId="schedule-14"><num>SCHEDULE 14<authorialNote class="referenceNote"><p>
Section 37</p></authorialNote></num><heading>Meetings of companies and other bodies</heading><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-14-crossheading-meaning-of-qualifying-body"><heading><i>Meaning of “qualifying body”</i></heading><paragraph eId="schedule-14-paragraph-1" class="schProv1"><num>1</num><intro><p>In this Schedule “<term refersTo="#term-qualifying-body" eId="term-qualifying-body">qualifying body</term>” means—</p></intro><level class="para1" eId="schedule-14-paragraph-1-a"><num>(a)</num><content><p>a registered society within the meaning of the Co-operative and Community Benefit Societies Act (Northern Ireland) 1969 (c. 24 (N.I.)),</p></content></level><level class="para1" eId="schedule-14-paragraph-1-b"><num>(b)</num><content><p>a credit union within the meaning of the Credit Unions (Northern Ireland) Order 1985 (S.I. 1985/1205 (N.I. 12)),</p></content></level><level class="para1" eId="schedule-14-paragraph-1-c"><num>(c)</num><content><p>a building society within the meaning of the Building Societies Act 1986,</p></content></level><level class="para1" eId="schedule-14-paragraph-1-d"><num>(d)</num><content><p>a society that is registered within the meaning of the Friendly Societies Act 1974 or incorporated under the Friendly Societies Act 1992,</p></content></level><level class="para1" eId="schedule-14-paragraph-1-e"><num>(e)</num><content><p>a registered branch within the meaning of the Friendly Societies Act 1992,</p></content></level><level class="para1" eId="schedule-14-paragraph-1-f"><num>(f)</num><content><p>a Scottish charitable incorporated organisation within the meaning of Chapter 7 of Part 1 of the Charities and Trustee Investment (Scotland) Act 2005 (asp 10),</p></content></level><level class="para1" eId="schedule-14-paragraph-1-g"><num>(g)</num><content><p>a company within the meaning of section 1(1) of the Companies Act 2006,</p></content></level><level class="para1" eId="schedule-14-paragraph-1-h"><num>(h)</num><content><p>a charitable incorporated organisation within the meaning of Part 11 of the Charities Act 2011, and</p></content></level><level class="para1" eId="schedule-14-paragraph-1-i"><num>(i)</num><content><p>a registered society within the meaning of the Co-operative and Community Benefit Societies Act 2014.</p></content></level></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-14-crossheading-meaning-of-relevant-period"><heading><i>Meaning of “relevant period”</i></heading><paragraph eId="schedule-14-paragraph-2" class="schProv1"><num>2</num><subparagraph eId="schedule-14-paragraph-2-1"><num>(1)</num><intro><p>In this Schedule the “<term refersTo="#term-relevant-period" eId="term-relevant-period">relevant period</term>” means the period which—</p></intro><level class="para1" eId="schedule-14-paragraph-2-1-a"><num>(a)</num><content><p>begins with 26 March 2020, and</p></content></level><level class="para1" eId="schedule-14-paragraph-2-1-b"><num>(b)</num><content><p>ends with <ins class="substitution first" ukl:ChangeId="key-c0e3a8e89fd25c653fecb7425792d204-1604325116853" ukl:CommentaryRef="key-c0e3a8e89fd25c653fecb7425792d204"><noteRef uk:name="commentary" href="#key-c0e3a8e89fd25c653fecb7425792d204" class="commentary"/><del class="first last" ukl:ChangeId="key-04d4c60fef07465d8d6cd6f6ada6641f-1646750111339" ukl:CommentaryRef="key-04d4c60fef07465d8d6cd6f6ada6641f"><noteRef uk:name="commentary" href="#key-04d4c60fef07465d8d6cd6f6ada6641f" class="commentary"/>30 December 2020</del></ins> <ins class="substitution" ukl:ChangeId="key-c0e3a8e89fd25c653fecb7425792d204-1604325116853" ukl:CommentaryRef="key-c0e3a8e89fd25c653fecb7425792d204"><ins class="first last" ukl:ChangeId="key-04d4c60fef07465d8d6cd6f6ada6641f-1646750111340" ukl:CommentaryRef="key-04d4c60fef07465d8d6cd6f6ada6641f"><noteRef uk:name="commentary" href="#key-04d4c60fef07465d8d6cd6f6ada6641f" class="commentary"/>29 March 2021</ins></ins> <ins class="substitution last" ukl:ChangeId="key-c0e3a8e89fd25c653fecb7425792d204-1604325116853" ukl:CommentaryRef="key-c0e3a8e89fd25c653fecb7425792d204"><ins class="first last" ukl:ChangeId="key-04d4c60fef07465d8d6cd6f6ada6641f-1646750509057" ukl:CommentaryRef="key-04d4c60fef07465d8d6cd6f6ada6641f"><noteRef uk:name="commentary" href="#key-04d4c60fef07465d8d6cd6f6ada6641f" class="commentary"/>30 March 2021</ins></ins>.</p></content></level></subparagraph><subparagraph eId="schedule-14-paragraph-2-2"><num>(2)</num><intro><p>The appropriate national authority may by regulations substitute for the date for the time being specified in sub-paragraph (1)(b)—</p></intro><level class="para1" eId="schedule-14-paragraph-2-2-a"><num>(a)</num><content><p>an earlier date, or</p></content></level><level class="para1" eId="schedule-14-paragraph-2-2-b"><num>(b)</num><content><p>a later date that is not more than three months after the date for the time being so specified and is not later than 5 April 2021.</p></content></level></subparagraph><subparagraph eId="schedule-14-paragraph-2-3"><num>(3)</num><content><p>Regulations under sub-paragraph (2) may make consequential or transitional provision or savings.</p></content></subparagraph><subparagraph eId="schedule-14-paragraph-2-4"><num>(4)</num><intro><p>In sub-paragraph (2) “<term refersTo="#term-the-appropriate-national-authority" eId="term-the-appropriate-national-authority">the appropriate national authority</term>” means—</p></intro><level class="para1" eId="schedule-14-paragraph-2-4-a"><num>(a)</num><content><p>in relation to a qualifying body within paragraph 1(c), (d), (e), (g), (h), or (i), the Secretary of State,</p></content></level><level class="para1" eId="schedule-14-paragraph-2-4-b"><num>(b)</num><content><p>in relation to a qualifying body within paragraph 1(f), the Scottish Ministers, and</p></content></level><level class="para1" eId="schedule-14-paragraph-2-4-c"><num>(c)</num><content><p>in relation to a qualifying body within paragraph 1(a) or (b), the Department for the Economy in Northern Ireland.</p></content></level></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-14-crossheading-meetings-of-qualifying-bodies-held-during-the-relevant-period"><heading><i>Meetings of qualifying bodies held during the relevant period</i></heading><paragraph eId="schedule-14-paragraph-3" class="schProv1"><num>3</num><subparagraph eId="schedule-14-paragraph-3-1"><num>(1)</num><content><p>This paragraph applies to a meeting within sub-paragraph (2) that is held during the relevant period.</p></content></subparagraph><subparagraph eId="schedule-14-paragraph-3-2"><num>(2)</num><intro><p>A meeting is within this sub-paragraph if it is—</p></intro><level class="para1" eId="schedule-14-paragraph-3-2-a"><num>(a)</num><content><p>a general meeting of a qualifying body,</p></content></level><level class="para1" eId="schedule-14-paragraph-3-2-b"><num>(b)</num><content><p>a meeting of any class of members of a qualifying body, or</p></content></level><level class="para1" eId="schedule-14-paragraph-3-2-c"><num>(c)</num><content><p>a meeting of delegates appointed by members of a qualifying body.</p></content></level></subparagraph><subparagraph eId="schedule-14-paragraph-3-3"><num>(3)</num><content><p>The meeting need not be held at any particular place.</p></content></subparagraph><subparagraph eId="schedule-14-paragraph-3-4"><num>(4)</num><content><p>The meeting may be held, and any votes may be permitted to be cast, by electronic means or any other means.</p></content></subparagraph><subparagraph eId="schedule-14-paragraph-3-5"><num>(5)</num><content><p>The meeting may be held without any number of those participating in the meeting being together at the same place.</p></content></subparagraph><subparagraph eId="schedule-14-paragraph-3-6"><num>(6)</num><intro><p>A member of the qualifying body does not have a right—</p></intro><level class="para1" eId="schedule-14-paragraph-3-6-a"><num>(a)</num><content><p>to attend the meeting in person,</p></content></level><level class="para1" eId="schedule-14-paragraph-3-6-b"><num>(b)</num><content><p>to participate in the meeting other than by voting, or</p></content></level><level class="para1" eId="schedule-14-paragraph-3-6-c"><num>(c)</num><content><p>to vote by particular means.</p></content></level></subparagraph><subparagraph eId="schedule-14-paragraph-3-7"><num>(7)</num><content><p>The provisions of any enactment relating to meetings within sub-paragraph (2) have effect subject to this paragraph.</p></content></subparagraph><subparagraph eId="schedule-14-paragraph-3-8"><num>(8)</num><content><p>The provisions of the constitution or rules of the qualifying body have effect subject to this paragraph.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-14-crossheading-meetings-of-qualifying-bodies-held-during-the-relevant-period-power-to-make-further-provision"><heading><i>Meetings of qualifying bodies held during the relevant period: power to make further provision</i></heading><paragraph eId="schedule-14-paragraph-4" class="schProv1"><num>4</num><subparagraph eId="schedule-14-paragraph-4-1"><num>(1)</num><content><p>The appropriate national authority may by regulations make provision for the purposes of, or in connection with, paragraph 3.</p></content></subparagraph><subparagraph eId="schedule-14-paragraph-4-2"><num>(2)</num><content><p>The appropriate national authority may by regulations make provision about the means by which, the form in which, and the period within which, any notice or other document relating to a meeting to which paragraph 3 applies or is expected to apply may be given or made available.</p></content></subparagraph><subparagraph eId="schedule-14-paragraph-4-3"><num>(3)</num><intro><p>Regulations under this paragraph may—</p></intro><level class="para1" eId="schedule-14-paragraph-4-3-a"><num>(a)</num><content><p>disapply or modify provisions of an enactment relating to meetings within paragraph 3(2);</p></content></level><level class="para1" eId="schedule-14-paragraph-4-3-b"><num>(b)</num><content><p>disapply or modify provisions of the constitution or rules of a qualifying body;</p></content></level><level class="para1" eId="schedule-14-paragraph-4-3-c"><num>(c)</num><content><p>make different provision for different purposes;</p></content></level><level class="para1" eId="schedule-14-paragraph-4-3-d"><num>(d)</num><content><p>make consequential, incidental or supplementary provision (including provision disapplying or modifying a provision of an enactment);</p></content></level><level class="para1" eId="schedule-14-paragraph-4-3-e"><num>(e)</num><content><p>make transitional provision or savings.</p></content></level></subparagraph><subparagraph eId="schedule-14-paragraph-4-4"><num>(4)</num><intro><p>In this paragraph “<term refersTo="#term-the-appropriate-national-authority" eId="term-the-appropriate-national-authority">the appropriate national authority</term>” means—</p></intro><level class="para1" eId="schedule-14-paragraph-4-4-a"><num>(a)</num><content><p>in relation to qualifying bodies within paragraph 1(g) or (h), the Secretary of State,</p></content></level><level class="para1" eId="schedule-14-paragraph-4-4-b"><num>(b)</num><content><p>in relation to qualifying bodies within paragraph 1(c), (d), (e) or (i), the Treasury,</p></content></level><level class="para1" eId="schedule-14-paragraph-4-4-c"><num>(c)</num><content><p>in relation to qualifying bodies within paragraph 1(f), the Scottish Ministers, and</p></content></level><level class="para1" eId="schedule-14-paragraph-4-4-d"><num>(d)</num><content><p>in relation to qualifying bodies within paragraph 1(a) or (b), the Department for the Economy in Northern Ireland.</p></content></level></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-14-crossheading-extension-of-period-for-qualifying-body-to-hold-annual-general-meeting"><heading><i>Extension of period for qualifying body to hold annual general meeting</i></heading><paragraph eId="schedule-14-paragraph-5" class="schProv1"><num>5</num><subparagraph eId="schedule-14-paragraph-5-1"><num>(1)</num><content><p>This paragraph applies where by reason of any provision a qualifying body is or was under a duty to hold a general meeting as its annual general meeting during a period (“the due period”) that ends during the relevant period.</p></content></subparagraph><subparagraph eId="schedule-14-paragraph-5-2"><num>(2)</num><content><p>The provision is to be read as if it imposes (and had always imposed) a duty on the qualifying body to hold a general meeting as its annual general meeting during the period that begins with the due period and ends with the relevant period (but this is subject to regulations under paragraph 6).</p></content></subparagraph><subparagraph eId="schedule-14-paragraph-5-3"><num>(3)</num><content><p>If by reason of regulations made under paragraph 2 the relevant period is a period that ends after 30 September 2020 this paragraph has effect as if the relevant period were a period that ends with 30 September 2020.</p></content></subparagraph><subparagraph eId="schedule-14-paragraph-5-4"><num>(4)</num><content><p>In this paragraph a reference to “<term refersTo="#term-any-provision" eId="term-any-provision">any provision</term>” is a reference to any provision of an enactment or of the constitution or rules of the qualifying body.</p></content></subparagraph><subparagraph eId="schedule-14-paragraph-5-5"><num>(5)</num><content><p>In the application of this paragraph in relation to a public company, the references to a duty to hold a general meeting as its annual general meeting are to be read as including a reference to a duty to hold an accounts meeting.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-14-crossheading-power-to-extend-period-for-qualifying-body-to-hold-annual-general-meeting"><heading><i>Power to extend period for qualifying body to hold annual general meeting</i></heading><paragraph eId="schedule-14-paragraph-6" class="schProv1"><num>6</num><subparagraph eId="schedule-14-paragraph-6-1"><num>(1)</num><content><p>The appropriate national authority may by regulations provide for any provision that would (but for the regulations) have the effect mentioned in sub-paragraph (2) to be read as if instead it had (and always had had) the effect mentioned in sub-paragraph (3).</p></content></subparagraph><subparagraph eId="schedule-14-paragraph-6-2"><num>(2)</num><content><p>The effect is that of imposing on a qualifying body a duty to hold a general meeting as its annual general meeting during a period (“the overlapping period”) that overlaps to any extent with the relevant period.</p></content></subparagraph><subparagraph eId="schedule-14-paragraph-6-3"><num>(3)</num><intro><p>The effect is that of imposing on the qualifying body a duty to hold a general meeting as its annual general meeting during a period that—</p></intro><level class="para1" eId="schedule-14-paragraph-6-3-a"><num>(a)</num><content><p>begins with the overlapping period, and</p></content></level><level class="para1" eId="schedule-14-paragraph-6-3-b"><num>(b)</num><content><p>ends with such period immediately following the end of the overlapping period as is specified in the regulations.</p></content></level></subparagraph><subparagraph eId="schedule-14-paragraph-6-4"><num>(4)</num><content><p>A period specified in regulations for the purposes of sub-paragraph (3)(b) must not exceed 8 months.</p></content></subparagraph><subparagraph eId="schedule-14-paragraph-6-5"><num>(5)</num><intro><p>Regulations under this paragraph may—</p></intro><level class="para1" eId="schedule-14-paragraph-6-5-a"><num>(a)</num><content><p>make different provision for different purposes;</p></content></level><level class="para1" eId="schedule-14-paragraph-6-5-b"><num>(b)</num><content><p>make consequential, incidental or supplementary provision (including provision disapplying or modifying a provision of an enactment);</p></content></level><level class="para1" eId="schedule-14-paragraph-6-5-c"><num>(c)</num><content><p>make transitional provision or savings.</p></content></level></subparagraph><subparagraph eId="schedule-14-paragraph-6-6"><num>(6)</num><content><p>In sub-paragraph (1) the reference to “<term refersTo="#term-any-provision" eId="term-any-provision">any provision</term>” is a reference to any provision of an enactment or of the constitution or rules of a qualifying body.</p></content></subparagraph><subparagraph eId="schedule-14-paragraph-6-7"><num>(7)</num><content><p>In this paragraph “<term refersTo="#term-the-appropriate-national-authority" eId="term-the-appropriate-national-authority">the appropriate national authority</term>” has the same meaning as in paragraph 4.</p></content></subparagraph><subparagraph eId="schedule-14-paragraph-6-8"><num>(8)</num><content><p>In the application of this paragraph in relation to a public company, the references to a duty to hold a general meeting as its annual general meeting are to be read as including a reference to a duty to hold an accounts meeting.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-14-crossheading-regulations-made-by-the-secretary-of-state-or-the-treasury"><heading><i>Regulations made by the Secretary of State or the Treasury</i></heading><paragraph eId="schedule-14-paragraph-7" class="schProv1"><num>7</num><subparagraph eId="schedule-14-paragraph-7-1"><num>(1)</num><content><p>Regulations made by the Secretary of State or the Treasury under this Schedule are to be made by statutory instrument.</p></content></subparagraph><subparagraph eId="schedule-14-paragraph-7-2"><num>(2)</num><content><p>A statutory instrument containing regulations made by the Secretary of State under paragraph 2(2)(a) of this Schedule is subject to annulment in pursuance of a resolution of either House of Parliament.</p></content></subparagraph><subparagraph eId="schedule-14-paragraph-7-3"><num>(3)</num><content><p>A statutory instrument containing regulations made by the Secretary of State under paragraph 2(2)(b) of this Schedule or containing regulations made by the Secretary of State or the Treasury under paragraph 4 or 6 of this Schedule must be laid before Parliament as soon as reasonably practicable after being made.</p></content></subparagraph><subparagraph eId="schedule-14-paragraph-7-4"><num>(4)</num><content><p>Sub-paragraph (3) does not apply if a draft of the statutory instrument has been laid before and approved by a resolution of each House of Parliament.</p></content></subparagraph><subparagraph eId="schedule-14-paragraph-7-5"><num>(5)</num><content><p>Regulations contained in a statutory instrument laid before Parliament by virtue of sub-paragraph (3) cease to have effect at the end of the period of 40 days beginning with the day on which the instrument is made, unless during that period the instrument is approved by a resolution of each House of Parliament.</p></content></subparagraph><subparagraph eId="schedule-14-paragraph-7-6"><num>(6)</num><intro><p>In calculating the period of 40 days, no account is to be taken of any time during which—</p></intro><level class="para1" eId="schedule-14-paragraph-7-6-a"><num>(a)</num><content><p>Parliament is dissolved or prorogued, or</p></content></level><level class="para1" eId="schedule-14-paragraph-7-6-b"><num>(b)</num><content><p>both Houses of Parliament are adjourned for more than 4 days.</p></content></level></subparagraph><subparagraph eId="schedule-14-paragraph-7-7"><num>(7)</num><intro><p>Where regulations cease to have effect as a result of sub-paragraph (5) that does not—</p></intro><level class="para1" eId="schedule-14-paragraph-7-7-a"><num>(a)</num><content><p>affect anything previously done under or by virtue of the regulations, or</p></content></level><level class="para1" eId="schedule-14-paragraph-7-7-b"><num>(b)</num><content><p>prevent the making of new regulations.</p></content></level></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-14-crossheading-regulations-made-by-the-scottish-ministers"><heading><i>Regulations made by the Scottish Ministers</i></heading><paragraph eId="schedule-14-paragraph-8" class="schProv1"><num>8</num><subparagraph eId="schedule-14-paragraph-8-1"><num>(1)</num><content><p>Regulations made by the Scottish Ministers under paragraph 2(2)(a) of this Schedule are subject to the negative procedure (see section 28 of the Interpretation and Legislative Reform (Scotland) Act 2010 (asp 10)).</p></content></subparagraph><subparagraph eId="schedule-14-paragraph-8-2"><num>(2)</num><content><p>Regulations made by the Scottish Ministers under paragraph 2(2)(b), 4 or 6 of this Schedule must be laid before the Scottish Parliament as soon as reasonably practicable after being made.</p></content></subparagraph><subparagraph eId="schedule-14-paragraph-8-3"><num>(3)</num><content><p>Sub-paragraph (2) does not apply if the regulations have been subject to the affirmative procedure (see section 29 of the Interpretation and Legislative Reform (Scotland) Act 2010).</p></content></subparagraph><subparagraph eId="schedule-14-paragraph-8-4"><num>(4)</num><content><p>Regulations laid before the Scottish Parliament by virtue of sub-paragraph (2) cease to have effect at the end of the period of 40 days beginning with the day on which they are made, unless during that period the regulations are approved by a resolution of the Scottish Parliament.</p></content></subparagraph><subparagraph eId="schedule-14-paragraph-8-5"><num>(5)</num><intro><p>In calculating the period of 40 days, no account is to be taken of any time during which the Scottish Parliament is—</p></intro><level class="para1" eId="schedule-14-paragraph-8-5-a"><num>(a)</num><content><p>dissolved, or</p></content></level><level class="para1" eId="schedule-14-paragraph-8-5-b"><num>(b)</num><content><p>in recess for more than 4 days.</p></content></level></subparagraph><subparagraph eId="schedule-14-paragraph-8-6"><num>(6)</num><intro><p>Where regulations cease to have effect as a result of sub-paragraph (4) that does not—</p></intro><level class="para1" eId="schedule-14-paragraph-8-6-a"><num>(a)</num><content><p>affect anything previously done under or by virtue of the regulations, or</p></content></level><level class="para1" eId="schedule-14-paragraph-8-6-b"><num>(b)</num><content><p>prevent the making of new regulations.</p></content></level></subparagraph><subparagraph eId="schedule-14-paragraph-8-7"><num>(7)</num><content><p>Section 30 of the Interpretation and Legislative Reform (Scotland) Act 2010 does not apply in relation to regulations to which sub-paragraph (2) applies.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-14-crossheading-regulations-made-by-the-department-for-the-economy-in-northern-ireland"><heading><i>Regulations made by the Department for the Economy in Northern Ireland</i></heading><paragraph eId="schedule-14-paragraph-9" class="schProv1"><num>9</num><subparagraph eId="schedule-14-paragraph-9-1"><num>(1)</num><content><p>Regulations made by the Department for the Economy in Northern Ireland under paragraph 2(2)(a) of this Schedule are subject to negative resolution within the meaning of section 41(6) of the Interpretation Act (Northern Ireland) 1954 (c. 33 (N.I.)).</p></content></subparagraph><subparagraph eId="schedule-14-paragraph-9-2"><num>(2)</num><content><p>Regulations made by the Department for the Economy in Northern Ireland under paragraph 2(2)(b), 4 or 6 of this Schedule must be laid before the Assembly as soon as reasonably practicable after being made.</p></content></subparagraph><subparagraph eId="schedule-14-paragraph-9-3"><num>(3)</num><content><p>Sub-paragraph (2) does not apply if a draft of the regulations has been laid before, and approved by a resolution of, the Assembly.</p></content></subparagraph><subparagraph eId="schedule-14-paragraph-9-4"><num>(4)</num><content><p>Section 41(3) of the Interpretation Act (Northern Ireland) 1954 applies for the purposes of sub-paragraph (3) in relation to the laying of a draft as it applies in relation to the laying of a statutory document under an enactment.</p></content></subparagraph><subparagraph eId="schedule-14-paragraph-9-5"><num>(5)</num><content><p>Regulations laid before the Assembly by virtue of sub-paragraph (2) cease to have effect at the end of the period of 40 days beginning with the day on which the regulations are made, unless during that period the regulations are approved by a resolution of the Assembly.</p></content></subparagraph><subparagraph eId="schedule-14-paragraph-9-6"><num>(6)</num><intro><p>In calculating the period of 40 days, no account is to be taken of any time during which the Assembly is—</p></intro><level class="para1" eId="schedule-14-paragraph-9-6-a"><num>(a)</num><content><p>dissolved,</p></content></level><level class="para1" eId="schedule-14-paragraph-9-6-b"><num>(b)</num><content><p>in recess for more than 4 days, or</p></content></level><level class="para1" eId="schedule-14-paragraph-9-6-c"><num>(c)</num><content><p>adjourned for more than 6 days.</p></content></level></subparagraph><subparagraph eId="schedule-14-paragraph-9-7"><num>(7)</num><intro><p>Where regulations cease to have effect as a result of sub-paragraph (5) that does not—</p></intro><level class="para1" eId="schedule-14-paragraph-9-7-a"><num>(a)</num><content><p>affect anything previously done under or by virtue of the regulations, or</p></content></level><level class="para1" eId="schedule-14-paragraph-9-7-b"><num>(b)</num><content><p>prevent the making of new regulations.</p></content></level></subparagraph><subparagraph eId="schedule-14-paragraph-9-8"><num>(8)</num><content><p>A power of the Department for the Economy in Northern Ireland to make regulations under this Schedule is exercisable by statutory rule for the purposes of the Statutory Rules (Northern Ireland) Order 1979 (S.I. 1979/1573 (N.I. 12)).</p></content></subparagraph><subparagraph eId="schedule-14-paragraph-9-9"><num>(9)</num><content><p>In this paragraph “<term refersTo="#term-the-assembly" eId="term-the-assembly">the Assembly</term>” means the Northern Ireland Assembly.</p></content></subparagraph></paragraph></hcontainer><hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-14-crossheading-other-interpretation"><heading><i>Other interpretation</i></heading><paragraph eId="schedule-14-paragraph-10" class="schProv1"><num>10</num><intro><p>In this Schedule—</p></intro><hcontainer name="definition"><content><p>“<term refersTo="#term-accounts-meeting" eId="term-accounts-meeting">accounts meeting</term>” means a general meeting of a public company at which the company's annual accounts and reports (within the meaning given by section 471 of the Companies Act 2006) are laid;</p></content></hcontainer><hcontainer name="definition"><content><p>“<term refersTo="#term-constitution" eId="term-constitution">constitution</term>”, in relation to a company, is to be construed in accordance with section 17 of the Companies Act 2006;</p></content></hcontainer><hcontainer name="definition"><content><p>“<term refersTo="#term-enactment" eId="term-enactment">enactment</term>” includes an Act of the Scottish Parliament and an instrument made under such an Act;</p></content></hcontainer><hcontainer name="definition"><content><p>“<term refersTo="#term-public-company" eId="term-public-company">public company</term>” has the meaning given by section 4(2) of the Companies Act 2006.</p></content></hcontainer></paragraph></hcontainer></hcontainer></hcontainer>