Corporate Insolvency and Governance Act 2020 (c. 12)

SCHEDULES

SCHEDULE 8 Moratoriums in Northern Ireland: temporary provision

PART 2 Modifications to primary legislation

Termination of moratorium obtained during relevant period

10 In relation to a moratorium that comes into force during the relevant period, Article 13ED(1) of the Insolvency (Northern Ireland) Order 1989 has effect as if for sub-paragraph (a) there were substituted—

“(a) the monitor thinks—

(i) that the moratorium is not likely to result in the rescue of the company as a going concern, and

(ii) that, even if one were to disregard any worsening of the financial position of the company for reasons relating to coronavirus, the moratorium would not be likely to result in the rescue of the company as a going concern,”.