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 2Arbitration

Proposals for resolving the matter of relief from payment

11Proposals for resolving the matter of relief from payment

(1)

A reference to arbitration must include a formal proposal for resolving the matter of relief from payment of a protected rent debt.

(2)

The other party to the arbitration may put forward a formal proposal in response within the period of 14 days beginning with the day on which the proposal under subsection (1) is received.

(3)

A formal proposal under subsection (1) or (2) must be accompanied by supporting evidence.

(4)

Each party may put forward a revised formal proposal within the period of 28 days beginning with the day on which the party gives a formal proposal to the other party under subsection (1) or (2).

(5)

A revised formal proposal must be accompanied by any further supporting evidence.

(6)

The periods in subsections (2) and (4) may be extended—

(a)

by agreement between the parties, or

(b)

by the arbitrator where the arbitrator considers that it would be reasonable in all the circumstances.

(7)

In this section “formal proposal” means a proposal which is—

(a)

made on the assumption that the reference is not dismissed for a reason set out in section 13(2) or (3),

(b)

expressed to be made for the purposes of this section, and

(c)

given to the other party and the arbitrator.