Legislation – The Corporate Insolvency and Governance Act 2020 (Coronavirus) (Schedule 8) (Early Termination of Certain Temporary Provisions) Regulations (Northern Ireland) 2020

New Search

Introduction

1 Citation and commencement

2 Early termination of certain temporary provisions in Schedule 8 to the Corporate Insolvency and Governance Act 2020

3 Saving provision

Signature

Explanatory note

Saving provision3.

Despite regulation 2, paragraphs 8 to 11 of that Schedule continue to have effect in relation to a moratorium if—

(a)

the moratorium came into force2, or

(b)

in the case of a moratorium that came into force as a result of an application under either Article 13BA or 13BB of the Insolvency (Northern Ireland) Order 19893, the application for the moratorium was made,

before 14th October 2020.

2

“Moratorium” means a moratorium under Part 1A of the Insolvency (Northern Ireland) Order 1989 (S.I. 1989/2405 (N.I. 19)), and Article 13BD(1) of that Order sets out the time at which a moratorium for a company comes into force. Part 1A and Article 13BD(1) of the Insolvency (Northern Ireland) Order 1989 were inserted by section 4(1) of the Corporate Insolvency and Governance Act 2020.

3

Articles 13BA and 13BB were inserted by section 4(1) of the Corporate Insolvency and Governance Act 2020.