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SCHEDULES

SCHEDULE 8Moratoriums in Northern Ireland: temporary provision

PART 2Modifications to primary legislation

Relaxation of conditions for extending moratorium obtained during relevant period

8(1)This paragraph applies in relation to a moratorium that comes into force during the relevant period.

(2)For the purposes of extending the moratorium under Article 13CA or 13CB of the Insolvency (Northern Ireland) Order 1989, paragraph (1)(d) of that Article has effect as if at the end there were inserted “or would do so if it were not for any worsening of the financial position of the company for reasons relating to coronavirus”.

(3)In relation to an application under Article 13CD of the Insolvency (Northern Ireland) Order 1989 that the moratorium be extended, paragraph (2)(d) of that Article has effect as if at the end there were inserted “or would do so if it were not for any worsening of the financial position of the company for reasons relating to coronavirus”.