SCHEDULES
SCHEDULE 5Enterprise management incentives
Part 8Supplementary provisions
Compliance with time limits
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1
For the purposes of this Part and Part 7 a person F3(“P”) is not to be regarded as having failed to do anything required to be done within a particular period of time if—
a
F2P had a reasonable excuse for not doing it within that period, and
b
if the excuse ceased to exist, F2P did it without unreasonable delay after the excuse ceased to exist.
2
Where sub-paragraph (1)(b) applies, any further time limit running from the end of the period concerned is instead to run from the time when the thing in question was actually done.
F13
For the purposes of sub-paragraph (1)—
a
an insufficiency of funds is not a reasonable excuse, unless attributable to events outside P's control, and
b
where P relies on any other person to do anything, that is not a reasonable excuse unless P took reasonable care to avoid the failure.