Insolvency Act 2000 (c. 39)

SCHEDULES

SCHEDULE 1 Moratorium where directors propose voluntary arrangement

Amendments of the Insolvency Act 1986

2 After section 1 there is inserted—

“1A Moratorium

(1) Where the directors of an eligible company intend to make a proposal for a voluntary arrangement, they may take steps to obtain a moratorium for the company.

(2) The provisions of Schedule A1 to this Act have effect with respect to—

(a) companies eligible for a moratorium under this section,

(b) the procedure for obtaining such a moratorium,

(c) the effects of such a moratorium, and

(d) the procedure applicable (in place of sections 2 to 6 and 7) in relation to the approval and implementation of a voluntary arrangement where such a moratorium is or has been in force.”