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The Corporate Insolvency and Governance Act 2020 (Coronavirus) (Amendment of Certain Relevant Periods) Regulations (Northern Ireland) 2021
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Statutory Rules of Northern Ireland
2021 No. 75
Insolvency
The Corporate Insolvency and Governance Act 2020 (Coronavirus) (Amendment of Certain Relevant Periods) Regulations (Northern Ireland) 2021
Made
25th March 2021
Coming into operation
29th March 2021
Approved by resolution of the Assembly on
4th May 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) Regulations (Northern Ireland) 2021 and come into operation on 29th March 2021.
Amendment of the Corporate Insolvency and Governance Act 2020
2. The Corporate Insolvency and Governance Act 2020 is amended as follows—
(a)in section 19(2)(b) for “30 March 2021” substitute “30 June 2021”;
(b)in paragraphs 1(3)(b) and 18(1)(b) of Schedule 11, for “31 March 2021” substitute “30 June 2021”.
Sealed with the Official Seal of the Department for the Economy on 25 March 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 within which certain temporary provisions in the Corporate Insolvency and Governance Act 2020 (c. 12) (“CIGA”) (referred to as the “relevant period”) are to have effect.
The temporary provisions consist of modifications to aspects of corporate insolvency law so as to mitigate the effects of coronavirus. The relevant periods of the temporary provisions to which these Regulations apply have previously been extended by the Corporate Insolvency and Governance Act 2020 (Amendment of Certain Relevant Periods) Regulations (Northern Ireland 2020 (S.R 2020 No. 199) and the Corporate Insolvency and Governance Act 2020 (Amendment of Certain Relevant Periods) (No. 2) Regulations (Northern Ireland) 2020 (S.R. 2020 No. 321).
Regulation 2 of these Regulations extends the relevant periods until 30 June 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 and S.R. 2021 No. 321.
(2)
“coronavirus” has the meaning given by section 42(2) of the Corporate Insolvency and Governance Act 2020.
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