SCHEDULES

SCHEDULE 11Winding-up petitions: Northern Ireland

PART 2Restriction on winding-up petitions and orders

18Interpretation

1

In this Part of this Schedule, “relevant period” means the period which—

a

begins with 27 April 2020, and

b

ends with 30 September 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.