Legislation – The Corporate Insolvency and Governance Act 2020 (Coronavirus) (Early Termination of Part 2 of Schedule 8) Regulations (Northern Ireland) 2022

These Regulations provide for Part 2 of Schedule 8 to the Corporate Insolvency and Governance Act 2020 (c. 12) (“the Act”) to cease to have effect from 14 February2022.

Part 2 of Schedule 8 to the Act contained temporary provisions for the purposes of a moratorium under Part 1A of the Insolvency (Northern Ireland) Order 1989 (S.I. 1989/2405 (N.I. 19)). Those temporary provisions relaxed the conditions for obtaining a moratorium as well as modifying how it was to be monitored and extended.

The Corporate Insolvency and Governance Act 2020 (Coronavirus) (Schedule 8) Early Termination of Certain Temporary Provision Regulations (Northern Ireland) 2020 (S.R. 2020 No. 214) provided for certain provisions in Part 2 of Schedule 8 to the Act to cease to have effect from 14 October 2020.

Regulation 2 provides for the remainder of Part 2 of Schedule 8 to the Act to cease to have effect from 14 February 2022.

A full impact assessment has not been produced for this instrument as no, or no significate impact upon the private, voluntary or public sector is foreseen. An Explanatory Memorandum has been published alongside this rule at www.legislation.gov.uk.