Legislation – Commercial Rent (Coronavirus) Act 2022

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Introduction

PART 1
Introductory provisions

1 Overview

2 “Rent” and “business tenancy”

3 “Protected rent debt”

4 “Adversely affected by coronavirus”

5 “Protected period”

6 “The matter of relief from payment”

PART 2
Arbitration

7 Approval of arbitration bodies

8 Functions of approved arbitration bodies

9 Period for making a reference to arbitration

10 Requirements for making a reference to arbitration

11 Proposals for resolving the matter of relief from payment

12 Written statements

13 Arbitration awards available

14 Arbitrator’s award on the matter of relief from payment

15 Arbitrator’s principles

16 Arbitrator: assessment of “viability” and “solvency”

17 Timing of arbitrator’s award

18 Publication of award

19 Arbitration fees and expenses

20 Oral hearings

21 Guidance

22 Modification of Part 1 of the Arbitration Act 1996

PART 3
Moratorium on certain remedies and insolvency arrangements

23 Temporary moratorium on enforcement of protected rent debts

24 Alteration of moratorium period

25 Temporary restriction on initiating certain insolvency arrangements

26 Temporary restriction on initiating arbitration proceedings

27 Temporary restriction on winding-up petitions and petitions for bankruptcy orders

PART 4
Final provisions

28 Power to apply Act in relation to future periods of coronavirus control

29 Concurrent power for Welsh Ministers to apply moratorium provisions again

30 Crown application

31 Extent, commencement and short title

SCHEDULES

SCHEDULE 1 Modifications of the Arbitration Act 1996 in relation to arbitrations under this Act

SCHEDULE 2 Temporary moratorium on enforcement of protected rent debts

SCHEDULE 3 Winding-up and bankruptcy petitions

PART 1Introductory provisions

1Overview

(1)

This Act enables the matter of relief from payment of protected rent debts due from the tenant to the landlord under a business tenancy to be resolved by arbitration (if not resolved by agreement).

(2)

In this Act—

(a)

sections 2 to 6 define for the purposes of this Act the terms “protected rent debt”, “the matter of relief from payment” and other key terms used in this Act;

(b)

Part 2 provides for statutory arbitration between the landlord and the tenant under a business tenancy in relation to the matter of relief from payment of a protected rent debt;

(c)

Part 3 provides for temporary restrictions on the availability of certain remedies and insolvency arrangements that would otherwise be available in relation to a protected rent debt.

(3)

Nothing in this Act is to be taken as—

(a)

affecting the capacity of the parties to a business tenancy to resolve by agreement, at any time, the matter of relief from payment of a protected rent debt (or any other matter relating to the tenancy), or

(b)

preventing an agreement resolving the matter of relief from payment of a protected rent debt from having effect or being enforced.