Legislation – Commercial Rent (Coronavirus) Act 2022

PART 1
Introductory provisions

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

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

Which version?
Latest available (Revised)
Original (As enacted)

Changes to legislation:

There are currently no known outstanding effects for the Commercial Rent (Coronavirus) Act 2022, Section 16.

Changes to Legislation

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PART 2Arbitration

Arbitration awards

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

(1)

In assessing the viability of the business of the tenant, the arbitrator must, so far as known, have regard to—

(a)

the assets and liabilities of the tenant, including any other tenancies to which the tenant is a party,

(b)

the previous rental payments made under the business tenancy from the tenant to the landlord,

(c)

the impact of coronavirus on the business of the tenant, and

(d)

any other information relating to the financial position of the tenant that the arbitrator considers appropriate.

(2)

In assessing the solvency of the landlord, the arbitrator must, so far as known, have regard to—

(a)

the assets and liabilities of the landlord, including any other tenancies to which the landlord is a party, and

(b)

any other information relating to the financial position of the landlord that the arbitrator considers appropriate.

(3)

In making an assessment under subsection (1) or (2), the arbitrator must disregard the possibility of the tenant or the landlord (as the case may be)—

(a)

borrowing money, or

(b)

restructuring its business.