Corporate Insolvency and Governance Act 2020

Modifications to the Insolvency Rules N.I.

50 (1) For the purposes of proceedings under Part 1A of the Insolvency (Northern Ireland) Order 1989 and proceedings under this Part of this Schedule the Insolvency Rules have effect with— N.I.

(a) the modifications set out in sub-paragraphs (3) to (13), and

(b) any other necessary modifications.

(2) Sub-paragraph (1)(b) is subject to—

(a) paragraphs 23 to 30 and 46 of this Schedule;

(b) any modifications set out in an order under paragraph 43 of this Schedule.

(3) Rule 0.2 has effect as if, in the definition of “insolvency proceedings”, after “the Order” there were inserted “ , Part 3 of Schedule 8 to the Corporate Insolvency and Governance Act 2020 ”.

(4) Rule 7.01 has effect as if for “Parts II to VII of the Order” there were substituted “ Part 1A of the Order or Part 3 of Schedule 8 to the Corporate Insolvency and Governance Act 2020 ”.

(5) Rule 7.07(1)(a) has effect as if after “the Order” there were inserted “ or Part 3 of Schedule 8 to the Corporate Insolvency and Governance Act 2020 ”.

(6) Rule 7.08 has effect in relation to a regulated company (within the meaning of Article 13H of the Insolvency (Northern Ireland) Order 1989) as if it also required the application to be served on the appropriate regulator (within the meaning of that Article).

(7) Rule 7.12(1)(b) has effect as if after sub-paragraph (v) there were inserted—

“(vi) a monitor in relation to a moratorium.”

(8) Rule 7.13B has effect as if—

(a) the references to an office-holder included a monitor in relation to a moratorium, and

(b) after paragraph (2)(d) there were inserted “, or

“(e) monitor in relation to a moratorium.”

(9) Rule 7.13C has effect as if after each of paragraph (2)(f) and (3)(f) there were inserted “; and

(g) Article 13EE (replacement of monitor or appointment of additional monitor).”

(10) Rule 7.36(2) has effect as if it required the applicant to serve a sealed copy of the application on the monitor and the company to which the moratorium relates.

(11) Omit Rules 7.07A and 7.08A.

(12) Rule 7.27 has effect as if paragraph (2)(a) included a reference to proceedings under Part 1A of the Insolvency (Northern Ireland) Order 1989 or this Part of this Schedule.

(13) After Rule 12.23 insert—

“Court orders N.I.

12.24. Notwithstanding any requirement in these Rules as to the contents of a court order the court may make such other order or in such form as the court thinks fit.”