Corporate Insolvency and Governance Act 2020 (c. 12)

SCHEDULES

SCHEDULE 11 N.I. Winding-up petitions: Northern Ireland

PART 2 N.I. Restriction on winding-up petitions and orders

Interpretation N.I.

18 (1) In this Part of this Schedule, “relevant period” means the period which— N.I.

(a) begins with 27 April 2020, and

(b) ends with [F1 31 December 2020].

(2) For the purposes of this Part of this Schedule, references to a petition presented by a creditor—

(a) do not include a petition presented by one or more creditors together with one or more other persons, but

(b) subject to that, do include a petition presented by more than one creditor (in which case the condition referred to in paragraph 3(2) or (4) or 4(2) or (4) must be met in relation to each creditor presenting the petition).

(3) For the purposes of this Part of this Schedule—

• “the 1991 Insolvency Rules” means the Insolvency Rules (Northern Ireland) 1991 (S.R. (N.I.) 1991/364);

• “coronavirus” means severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2);

• coronavirus has a “financial effect” on a company if (and only if) the company's financial position worsens in consequence of, or for reasons relating to, coronavirus.

Textual Amendments

F1 Words in Sch. 11 para. 18(1)(b) substituted (29.9.2020) by The Corporate Insolvency and Governance Act 2020 (Amendment of Certain Relevant Periods) Regulations (Northern Ireland) 2020 (S.R. 2020/199), regs. 1, 2(c)