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The Corporate Insolvency and Governance Act 2020 (Coronavirus) (Amendment of Certain Relevant Periods) (No. 2) Regulations (Northern Ireland) 2021
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Statutory Rules of Northern Ireland
2021 No. 165
Insolvency
The Corporate Insolvency and Governance Act 2020 (Coronavirus) (Amendment of Certain Relevant Periods) (No. 2) Regulations (Northern Ireland) 2021
Made
16th June 2021
Coming into operation
29th June 2021
Approved by resolution of the Assembly on
5th July 2021
The Department for the Economy makes the following Regulations in exercise of the powers conferred by section 42(1)(b) of the Corporate Insolvency and Governance Act 2020(1).
The Department considers it reasonable to make these Regulations so as to mitigate an effect of coronavirus(2).
Citation and commencement
1. These Regulations may be cited as the Corporate Insolvency and Governance Act 2020 (Coronavirus) (Amendment of Certain Relevant Periods) (No. 2) Regulations (Northern Ireland) 2021 and come into operation on 29th June 2021.
Amendment of the Corporate Insolvency and Governance Act 2020
2. In the Corporate Insolvency and Governance Act 2020, in paragraphs 1(3)(b) and 18(1)(b) of Schedule 11, for “30 June 2021” substitute “30 September 2021”.
Sealed with the Official Seal of the Department for the Economy on 16th June 2021
(L.S.)
Colin Jack
A senior officer of the Department for the Economy
EXPLANATORY NOTE
(This note is not part of the Regulations)
These Regulations extend the periods (referred to as the “relevant periods”) during which certain provisions in the Corporate Insolvency and Governance Act 2020 (“the Act”) that make temporary modifications to the law concerning winding up petitions to mitigate the effects of coronavirus are to have effect.
The Act originally provided that these relevant periods were to expire on 30 September 2020. The periods have since been extended on three occasions: by the Corporate Insolvency and Governance Act 2020 (Amendment of Certain Relevant Periods) Regulations (Northern Ireland 2020 (S.R 2020 No. 199), by the Corporate Insolvency and Governance Act 2020 (Amendment of Certain Relevant Periods) (No. 2) Regulations (Northern Ireland) 2020 (S.R. 2020 No. 321) and by the Corporate Insolvency and Governance Act 2020 (Coronavirus) (Amendment of Certain Relevant Periods) Regulations (Northern Ireland) 2021 (S.R. 2021 No. 75). The last of these extended the relevant periods until the 30 June 2021.
Regulation 2 of these Regulations further extends the relevant periods until 30 September 2021.
A full impact assessment has not been produced for this rule as no, or no significant impact upon the private, voluntary or public sector is foreseen. An Explanatory Memorandum has been published alongside this instrument at www.legislation.gov.uk
(1)
2020 c. 12, as amended by S.R. 2020 No. 199, S.R. 2020 No. 321 and S.R. 2021 No. 75.
(2)
“coronavirus” has the meaning given by section 42(2) of the Corporate Insolvency and Governance Act 2020.
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