Defined terms — CIGA 2020

Defined terms — Corporate Insolvency and Governance Act 2020

United Kingdom · ukpga/2020/12 · 2190 provisions

160 defined in this instrument, 2 borrowed from other acts.

accounts meeting — a general meeting of a public company at which the company's annual accounts and reports (within the meaning given by section 471 of the Companies Act 2006) are laid; “constitution”, in relation to a company, is to be construed in accordance with section 17 of the Companies Act 2006; “enactment” includes an Act of the Scottish Parliament and an instrument made under such an Act; “public company” has the meaning given by section 4(2) of the Companies Act 2006 Schedule 14, paragraph 10

acquired property — property of the company which directly or indirectly represents the property disposed of Section 13DM(6)

acquired property — property of the company which directly or indirectly represents the property disposed of. Where the Court makes an order giving permission under paragraph (1), the directors must, within the period of 14 days beginning with the date of the order, send a copy of it to the registrar. If the directors fail to comply with paragraph (7), any director who did not have a reasonable excuse for the failure commits an offence. If a company fails to comply with paragraph (3)— the company commits an offence, and any officer of the company who without reasonable excuse authorised or permitted the failure commits an offence. Paragraph (1) does not apply in relation to any property which is subject to a financial collateral arrangement, a market charge, a system-charge or a collateral security (as defined by Article 13DI). During a moratorium, the company may, with the permission of the High Court, dispose of goods which are in the possession of the company under a hire-purchase agreement as if all of the rights of the owner under the agreement were vested in the company. The Court may give permission under paragraph (1) only if the Court thinks that it will support the rescue of the company as… Section 4(1)

bond — — a bond that is within article 77(1) of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001, or an alternative finance investment bond within the meaning of article 77A of that Order; “commercial paper” has the meaning given by article 9(3) of that Order Schedule 1, paragraph 14(6)

business document — — whether in hard copy, electronic or any other form. an invoice, an order for goods or services, a business letter, and an order form Section 13DA(6)

business document — — whether in hard copy, electronic or any other form. an invoice, an order for goods or services, a business letter, and an order form, that a moratorium is in force in relation to the company, and the name of the monitor. During a moratorium— no petition may be presented for the winding up of the company, except by the directors, no resolution may be passed for the voluntary winding up of the company under Article 70(1)(a), a resolution for the voluntary winding up of the company under Article 70(1)(b) may be passed only if the resolution is recommended by the directors, no order may be made for the winding up of the company, except on a petition by the directors, no administration application may be made in respect of the company, except by the directors, no notice of intention to appoint an administrator of the company under paragraph 15 or 23(1) of Schedule B1 may be filed with the High Court, no administrator of the company may be appointed under paragraph 15 or 23(1) of Schedule B1, and no administrative receiver of the company may be appointed. Paragraph (1)(a) does not apply to an excepted petition; and paragraph (1)(d) does not apply to an order on an excepted petition.… Section 4(1)

company — — a company registered under the Companies Act 2006 in Northern Ireland, or an unregistered company that may be wound up under Part 6 of this Order; “eligible”, in relation to a company, has the meaning given by Schedule ZA1; “employer”, in relation to a pension scheme— in Articles 13BE(2)(c), 13CH(8)(c) and 13EE(8)(c), means an employer within the meaning of Article 2(2) of the Pensions (Northern Ireland) Order 2005; elsewhere in this Part, has the same meaning that it has for the purposes of Part 3 of the Pensions (Northern Ireland) Order 2005 (see Article 2(2) and (5) of that Order); “hire-purchase agreement” includes a conditional sale agreement, a chattel leasing agreement and a retention of title agreement; “money purchase scheme” has the meaning given by section 176(1) of the Pension Schemes (Northern Ireland) Act 1993; “the monitor”, in relation to a moratorium, means the person who has the functions of the monitor in relation to the moratorium (see also Article 13EF for cases where two or more persons act as the monitor) Section 13HE(1)

contract or other instrument involving financial services — a contract or other instrument to which any of the following paragraphs applies Schedule 2, paragraph 1

contract or other instrument involving financial services — a contract or other instrument to which any of the following paragraphs applies Schedule 6, paragraph 1

coronavirus — severe acute respiratory syndrome coronavirus 2 (SARS-Cov-2) Schedule 10, paragraph 4(3)

coronavirus — severe acute respiratory syndrome coronavirus 2 (SARS-Cov-2) Schedule 11, paragraph 3(3)

coronavirus — severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2) Schedule 4, Part 2, paragraph 11

coronavirus — severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2) Schedule 8, Part 2, paragraph 11

coronavirus — severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2) Section 27(1)

coronavirus — severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2) Section 36(1)

coronavirus — severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2) Section 41(2)

coronavirus — severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2) Section 42(2)

corporate insolvency or governance legislation — — the Insolvency Act 1986, except so far as relating to the insolvency or bankruptcy of individuals, Part 26A of the Companies Act 2006 (arrangements and reconstructions for companies in financial difficulty), the Company Directors Disqualification Act 1986, this Act, any subordinate legislation made under the enactments specified in paragraphs (a) to (d), the Cross-Border Insolvency Regulations 2006 (S.I. 2006/1030), and after IP completion day, Regulation (EU) 2015/848 on insolvency proceedings Section 27(1)

corporate insolvency or governance legislation — — the Insolvency (Northern Ireland) Order 1989 (S.I. 1989/2405 (N.I. 19)), except so far as relating to the insolvency or bankruptcy of individuals, Part 26A of the Companies Act 2006 (arrangements and reconstructions for companies in financial difficulty), the Company Directors Disqualification (Northern Ireland) Order 2002 (S.I. 2002/3150 (N.I. 4)), this Act, any statutory provision made under the enactments specified in paragraphs (a) to (d), the Cross-Border Insolvency Regulations (Northern Ireland) 2007 (S.R. (N.I.) 2007/115), and after IP completion day, Regulation (EU) 2015/848 on insolvency proceedings Section 36(1)

corporate insolvency or restructuring procedure — — a moratorium under Part A1 of the Insolvency Act 1986; a company voluntary arrangement under Part 1 of that Act (including a moratorium under section 1A of that Act in a case where such a moratorium applies after the coming into force of paragraph 30 of Schedule 3); administration under Part 2 of that Act; receivership to which Part 3 of that Act applies; winding up under Part 4 or 5 of that Act; the procedure provided for by Part 26A of the Companies Act 2006; “enactment” includes an Act of the Scottish Parliament and an instrument made under such an Act Section 27(1)

corporate insolvency or restructuring procedure — — a moratorium under Part 1A of the Insolvency (Northern Ireland) Order 1989; a company voluntary arrangement under Part 2 of that Order (including a moratorium under Article 14A of that Order in a case where such a moratorium applies after the coming into force of paragraph 26 of Schedule 7); administration under Part 3 of that Order; receivership to which Part 4 of that Order applies; winding up under Part 5 or 6 of that Order; the procedure provided for by Part 26A of the Companies Act 2006 Section 36(1)

eligible scheme — any pension scheme that is an eligible scheme for the purposes of section 126 of the Pensions Act 2004 or Article 110 of the Pensions (Northern Ireland) Order 2005 (S.I. 2005/255 (N.I. 1)); “employer”— in subsection (1), means an employer within the meaning of section 318(1) of the Pensions Act 2004 or Article 2(2) of the Pensions (Northern Ireland) Order 2005; in subsections (2) and (3)— in the case of a pension scheme that is an eligible scheme for the purposes of section 126 of the Pensions Act 2004, has the same meaning as it has for the purposes of Part 2 of that Act (see section 318(1) and (4) of that Act); in the case of a pension scheme that is an eligible scheme for the purposes of Article 110 of the Pensions (Northern Ireland) Order 2005, has the same meaning as it has for the purposes of Part 3 of that Order (see Article 2(2) and (5) of that Order) Schedule 9, Part 1, paragraph 1(9)

entity — — a company, a limited liability partnership, any other association or body of persons, whether or not incorporated, and an individual carrying on a trade or business; “relevant insolvency procedure” has the same meaning as in section 233B of the Insolvency Act 1986 Section 15(10)

entity — — a company, a limited liability partnership, any other association or body of persons, whether or not incorporated, and an individual carrying on a trade or business; “relevant insolvency procedure” has the same meaning as in Article 197B of the Insolvency (Northern Ireland) Order 1989 Section 19(10)

excepted petition — a petition under— Article 104A, 104B or 104C, or section 367 of the Financial Services and Markets Act 2000 on the ground mentioned in subsection (3)(b) of that section. During a moratorium— a landlord or other person to whom rent is payable may not exercise a right of forfeiture by peaceable re-entry in relation to premises let to the company, except with the permission of the High Court, no steps may be taken to enforce any security over the company’s property except— steps to enforce a collateral security charge (within the meaning of the Financial Markets and Insolvency (Settlement Finality) Regulations 1999 (S.I. 1999/2979)), steps to enforce security created or otherwise arising under a financial collateral arrangement (within the meaning of regulation 3 of the Financial Collateral Arrangements (No. 2) Regulations 2003 (S.I. 2003/3226)), or steps taken with the permission of the High Court, no steps may be taken to repossess goods in the company’s possession under any hire-purchase agreement, except with the permission of the High Court, and no legal process (including legal proceedings, enforcement and distress) may be instituted, carried out or continued against the… Section 4(1)

excluded debt — a debt in respect of rent, or any sum or other payment that a tenant is liable to pay, under— and which is unpaid by reason of a financial effect of coronavirus; in England and Wales, a relevant business tenancy; or in Scotland, a lease as defined in section 7(1) of the Law Reform (Miscellaneous Provisions) (Scotland) Act 1985 Schedule 10, paragraph 4(3)

excluded debt — a debt in respect of rent, or any sum or other payment that a tenant is liable to pay, under a relevant business tenancy and which is unpaid by reason of a financial effect of coronavirus Schedule 11, paragraph 3(3)

false statement offence — an offence under Article 7 or 10 of the Perjury (Northern Ireland) Order 1979 (S.I. 1979/1714 (N.I. 19)) (false statements made on oath otherwise than in judicial proceedings or made otherwise than on oath). Where the Director of Public Prosecutions for Northern Ireland institutes criminal proceedings following any report under paragraph (2), the monitor, and every officer and agent of the company past and present (other than the defendant), must give the Director all assistance in connection with the prosecution which they are reasonably able to give. For this purpose “agent” includes any banker or solicitor of the company and any person employed by the company as auditor, whether that person is or is not an officer of the company. The High Court may, on the application of the Director of Public Prosecutions for Northern Ireland, direct a person who has failed to comply with paragraph (8) to comply with it. For the purposes of Articles 13B and 13BA as they apply in relation to a regulated company, Article 13BC(1) has effect as if the documents listed there included a reference to the written consent of the appropriate regulator to the appointment of the proposed monitor. The… Section 4(1)

Financial contract — — a contract for the provision of financial services consisting of— lending (including the factoring and financing of commercial transactions), financial leasing, or providing guarantees or commitments; a securities contract, including— a contract for the purchase, sale or loan of a security or group or index of securities; an option on a security or group or index of securities; a repurchase or reverse repurchase transaction on any such security, group or index; a commodities contract, including— a contract for the purchase, sale or loan of a commodity or group or index of commodities for future delivery; an option on a commodity or group or index of commodities; a repurchase or reverse repurchase transaction on any such commodity, group or index; a futures or forwards contract, including a contract (other than a commodities contract) for the purchase, sale or transfer of a commodity or property of any other description, service, right or interest for a specified price at a future date; a swap agreement, including— a swap or option relating to interest rates, spot or other foreign exchange agreements, currency, an equity index or equity, a debt index or debt, commodity indexes or… Schedule 12, Part 1, paragraph 1(2)

Financial contract — — a contract for the provision of financial services consisting of— lending (including the factoring and financing of commercial transactions), financial leasing, or providing guarantees or commitments; a securities contract, including— a contract for the purchase, sale or loan of a security, group or index of securities; an option on a security or group or index of securities; a repurchase or reverse repurchase transaction on any such security, group or index; a commodities contract, including— a contract for the purchase, sale or loan of a commodity or group or index of commodities for future delivery; an option on a commodity or group or index of commodities; a repurchase or reverse repurchase transaction on any such commodity, group or index; a futures or forwards contract, including a contract (other than a commodities contract) for the purchase, sale or transfer of a commodity or property of any other description, service, right or interest for a specified price at a future date; a swap agreement, including— a swap or option relating to interest rates, spot or other foreign exchange agreements, currency, an equity index or equity, a debt index or debt, commodity indexes or… Schedule 2, paragraph 2(2)

Financial contract — — a contract for the provision of financial services consisting of— lending (including the factoring and financing of commercial transactions), financial leasing, or providing guarantees or commitments; a securities contract, including— a contract for the purchase, sale or loan of a security, group or index of securities; an option on a security or group or index of securities; a repurchase or reverse repurchase transaction on any such security, group or index; a commodities contract, including— a contract for the purchase, sale or loan of a commodity or group or index of commodities for future delivery; an option on a commodity or group or index of commodities; a repurchase or reverse repurchase transaction on any such commodity, group or index; a futures or forwards contract, including a contract (other than a commodities contract) for the purchase, sale or transfer of a commodity or property of any other description, service, right or interest for a specified price at a future date; a swap agreement, including— a swap or option relating to interest rates, spot or other foreign exchange agreements, currency, an equity index or equity, a debt index or debt, commodity indexes or… Schedule 6, paragraph 2(2)

insolvency office-holder — — in a case where a company enters administration, the administrator; in a case where a voluntary arrangement under Part 2 takes effect in relation to a company, the supervisor of the voluntary arrangement Section 17(1)

Insolvency Rules — the Insolvency (England and Wales) Rules 2016 (S.I. 2016/1024) Schedule 10, paragraph 4(3)

Insolvency Rules — the Insolvency Rules (Northern Ireland) 1991 (S.R. (N.I.) 1991/364) Schedule 11, paragraph 3(3)

investment bank — a company or other entity that has permission under Part 4A of the Financial Services and Markets Act 2000 to carry on the regulated activity of— safeguarding and administering investments, managing an AIF or a UCITS, acting as trustee or depositary of an AIF or a UCITS, dealing in investments as principal, or dealing in investments as agent; “investment firm” has the same meaning as in the Banking Act 2009 (see section 258A of that Act), disregarding any order made under section 258A(2)(b) of that Act; “regulated activity” has the meaning given by section 22 of the Financial Services and Markets Act 2000, taken with Schedule 2 to that Act and any order under that section Schedule 12, Part 1, paragraph 1(2)

investment bank — a company that has permission under Part 4A of the Financial Services and Markets Act 2000 to carry on the regulated activity of— but does not include a company that has permission to arrange for one or more others to carry on the activity mentioned in paragraph (a) if it does not otherwise have permission to carry on any of the activities mentioned in paragraphs (a) to (e); safeguarding and administering investments, managing an AIF or a UCITS, acting as trustee or depositary of an AIF or a UCITS, dealing in investments as principal, or dealing in investments as agent, “investment firm” has the same meaning as in the Banking Act 2009 (see section 258A of that Act), disregarding any order made under section 258A(2)(b) of that Act; “regulated activity” has the meaning given by section 22 of the Financial Services and Markets Act 2000, taken with Schedule 2 to that Act and any order under that section Schedule 1, paragraph 6(2)

IP number — the number assigned to an office-holder as an insolvency practitioner by the Secretary of State Schedule 4, Part 3, paragraph 17(2)

IP number — the number assigned to an office-holder as an insolvency practitioner by the Secretary of State Schedule 4, Part 3, paragraph 38(3)

IP number — the number assigned to an office-holder as an insolvency practitioner by the Secretary of State Schedule 4, Part 4, paragraph 57(2)

IP number — the number assigned to an office-holder as an insolvency practitioner by the Secretary of State Schedule 4, Part 4, paragraph 78(3)

IP number — the identifying number or reference issued to the insolvency practitioner by a professional body recognised under Article 350 of the Insolvency (Northern Ireland) Order 1989 Schedule 8, Part 3, paragraph 16(2)

legislation — — an Act of Parliament or an Act or Measure of Senedd Cymru; or subordinate legislation (within the meaning of the Interpretation Act 1978) made under such an Act or Measure Schedule 3, paragraph 45(7)

listed — admitted to the official list within the meaning given by section 103(1) of the Financial Services and Markets Act 2000 (interpretation) Schedule 1, paragraph 14(3)

listed — admitted to the official list within the meaning given by section 103(1) of the Financial Services and Markets Act 2000 (interpretation) Schedule 5, paragraph 14(3)

money purchase scheme — a pension scheme that is a money purchase scheme for the purposes of the Pension Schemes Act 1993 (see section 181(1) of that Act) or the Pension Schemes (Northern Ireland) Act 1993 (see section 176(1) of that Act); “occupational pension scheme” and “pension scheme” have the meaning given by section 1 of the Pension Schemes Act 1993 Schedule 9, Part 1, paragraph 1(9)

moratorium — a moratorium under this Part; “moratorium debt” has the meaning given by Article 13HD; “occupational pension scheme” has the meaning given by section 1 of the Pension Schemes (Northern Ireland) Act 1993; “pension scheme” has the meaning given by section 1 of the Pension Schemes (Northern Ireland) Act 1993; “pre-moratorium debt” has the meaning given by Article 13HD Section 13HE(1)

ordinary administration — the insolvency procedure provided for by Schedule B1 Section 13HA(3)

ordinary administration — the insolvency procedure provided for by Schedule B1 Section 4(1)

person with corporate responsibility — — in relation to a company, a director, manager, secretary or other officer of the body, in relation to a partnership or limited liability partnership, a partner or member, and in relation to any other entity, a person with responsibility for managing the entity; “subordinate legislation” has the meaning given by section 21(1) of the Interpretation Act 1978 Section 27(1)

person with corporate responsibility — — in relation to a company, a director, manager, secretary or other officer of the body, in relation to a partnership or limited liability partnership, a partner or member, and in relation to any other entity, a person with responsibility for managing the entity; “relevant authority” has the meaning given by section 28(4); “statutory provision” has the meaning given by section 1(f) of the Interpretation Act (Northern Ireland) 1954 (c. 33 (N.I.)) Section 36(1)

PRA-regulated company — a regulated company which— is, or has been, a PRA-authorised person, is, or has been, an appointed representative within the meaning given by section 39 of the Financial Services and Markets Act 2000, whose principal (or one of whose principals) is, or was, a PRA-authorised person, or is carrying on, or has carried on, a PRA-regulated activity (within the meaning of section 22A of that Act) in contravention of the general prohibition; “regulated activity” has the meaning given by section 22 of the Financial Services and Markets Act 2000, taken with Schedule 2 to that Act and any order under that section Section 13H(13)

pre-moratorium creditor — a creditor in respect of a pre-moratorium debt— for which the company has a payment holiday during the moratorium (see Article 13D), and which has not been paid or otherwise discharged. In determining for the purposes of paragraph (5) what counts as a pre-moratorium debt for which the company has a payment holiday during the moratorium, Articles 13D(3) and 13HD(1)(b) apply as if the references to the moratorium were to the moratorium as proposed to be extended. Regulations may amend this Article for the purposes of changing the definition of “pre-moratorium creditor”. Regulations may not be made under paragraph (7) unless a draft of the regulations has been laid before, and approved by a resolution of, the Assembly. At any time after the first 15 business days of the initial period, the directors may apply to the High Court for an order that the moratorium be extended. The application must be accompanied by— a statement from the directors that all of the following that have fallen due have been paid or otherwise discharged— moratorium debts, and pre-moratorium debts for which the company does not have a payment holiday during the moratorium (see Article 13D), a statement from the… Section 4(1)

primary legislation — — an Act, an Act or Measure of Senedd Cymru, an Act of the Scottish Parliament, or Northern Ireland legislation Section 47(8)

priority pre-moratorium debt — — any pre-moratorium debt that is payable in respect of— the monitor's remuneration or expenses, goods or services supplied during the moratorium, rent in respect of a period during the moratorium, or wages or salary arising under a contract of employment, so far as relating to a period of employment before or during the moratorium, any pre-moratorium debt that— consists of a liability to make a redundancy payment, and fell due before or during the moratorium, and any pre-moratorium debt that— arises under a contract or other instrument involving financial services, fell due before or during the moratorium, and is not relevant accelerated debt (see subsection (4)) Schedule 3, paragraph 13(3)

public body — — a body which exercises public functions, a body specified for the purposes of this paragraph by the Secretary of State, or a body within a class specified for the purposes of this paragraph by the Secretary of State Schedule 1, paragraph 16(2)

public body — — a body which exercises public functions, a body specified for the purposes of this paragraph by the Department, or a body within a class specified for the purposes of this paragraph by the Department Schedule 5, paragraph 16(2)

public-private partnership project — a project— the resources for which are provided partly by one or more public bodies and partly by one or more private persons, or which is designed wholly or mainly for the purpose of assisting a public body to discharge a function Schedule 1, paragraph 16(1)

qualified person — a person qualified to act as an insolvency practitioner; “unable to pay its debts”— in relation to a registered company, has the same meaning as in Part 5 (see Article 103); in relation to an unregistered company, has the same meaning as in Part 6 (see Articles 186 to 188). Regulations may amend this Article for the purposes of changing the definition of “qualified person” in paragraph (1). Regulations may not be made under paragraph (2) unless a draft of the regulations has been laid before, and approved by a resolution of, the Assembly. Regulations made in the exercise of any power conferred by this Part may make consequential, supplementary, incidental or transitional provision or savings Section 4(1)

qualifying body — — a registered society within the meaning of the Co-operative and Community Benefit Societies Act (Northern Ireland) 1969 (c. 24 (N.I.)), a credit union within the meaning of the Credit Unions (Northern Ireland) Order 1985 (S.I. 1985/1205 (N.I. 12)), a building society within the meaning of the Building Societies Act 1986, a society that is registered within the meaning of the Friendly Societies Act 1974 or incorporated under the Friendly Societies Act 1992, a registered branch within the meaning of the Friendly Societies Act 1992, a Scottish charitable incorporated organisation within the meaning of Chapter 7 of Part 1 of the Charities and Trustee Investment (Scotland) Act 2005 (asp 10), a company within the meaning of section 1(1) of the Companies Act 2006, a charitable incorporated organisation within the meaning of Part 11 of the Charities Act 2011, and a registered society within the meaning of the Co-operative and Community Benefit Societies Act 2014 Schedule 14, paragraph 1

rated — rated for the purposes of investment by an internationally recognised rating agency Schedule 1, paragraph 14(3)

rated — rated for the purposes of investment by an internationally recognised rating agency Schedule 5, paragraph 14(3)

redundancy payment — — a redundancy payment under Part 11 of the Employment Rights Act 1996 or Part 12 of the Employment Rights (Northern Ireland) Order 1996, or a payment made to a person who agrees to the termination of their employment in circumstances where they would have been entitled to a redundancy payment under that Part if dismissed; “wages or salary” includes— a sum payable in respect of a period of holiday (for which purpose the sum is to be treated as relating to the period by reference to which the entitlement to holiday accrued), a sum payable in respect of a period of absence through illness or other good cause, a sum payable in lieu of holiday, and a contribution to an occupational pension scheme. During a moratorium, the company must, in any premises— display, in a prominent position so that it may easily be read by such customers or suppliers, a notice containing the required information. where business of the company is carried on, and to which customers of the company or suppliers of goods or services to the company have access, During a moratorium, any websites of the company must state the required information. During a moratorium, every business document issued by or on behalf… Section 4(1)

registered company — a company registered under the Companies Act 2006 in England and Wales or Scotland Schedule 10, paragraph 4(3)

registered company — a company registered under the Companies Act 2006 in Northern Ireland Schedule 11, paragraph 3(3)

registered social landlord — registered as a social landlord under Part 1 of the Housing Act 1996 Schedule 3, paragraph 45(7)

regulated company — a company which— is, or has been, an authorised person within the meaning given by section 31 of the Financial Services and Markets Act 2000, is, or has been, an appointed representative within the meaning given by section 39 of that Act, or is carrying on, or has carried on, a regulated activity in contravention of the general prohibition within the meaning given by section 19 of that Act Section 13H(13)

regulations that are subject to the affirmative resolution procedure — regulations that may not be made unless a draft of the statutory instrument containing them has been laid before and approved by a resolution of each House of Parliament Section 43(5)

regulations that are subject to the affirmative resolution procedure — regulations that may not be made unless a draft of the regulations has been laid before, and approved by a resolution of, the Assembly Section 46(3)

regulations that are subject to the made affirmative procedure — regulations that— are contained in a statutory instrument that must be laid before Parliament as soon as reasonably practicable after being made, and cease to have effect at the end of the period of 40 days beginning with the day on which the instrument is made, unless during that period the instrument is approved by a resolution of each House of Parliament Section 43(5)

regulations that are subject to the made affirmative procedure — regulations that— are contained in a statutory instrument that must be laid before Senedd Cymru as soon as reasonably practicable after being made, and cease to have effect at the end of the period of 40 days beginning with the day on which the instrument is made, unless during that period the instrument is approved by a resolution of Senedd Cymru Section 44(4)

regulations that are subject to the made affirmative procedure — regulations that— must be laid before the Scottish Parliament as soon as reasonably practicable after being made, and cease to have effect at the end of the period of 40 days beginning with the day on which the regulations are made, unless during that period the regulations are approved by a resolution of the Scottish Parliament Section 45(3)

regulations that are subject to the made affirmative procedure — regulations that— must be laid before the Assembly as soon as reasonably practicable after being made, and cease to have effect at the end of the period of 40 days beginning with the day on which the regulations are made, unless during that period the regulations are approved by a resolution of the Assembly Section 46(3)

regulator — the Financial Conduct Authority or the Prudential Regulation Authority Section 13H(13)

regulator — the Financial Conduct Authority or the Prudential Regulation Authority. Regulations may amend this Article for the purposes of changing the definition of “regulated company” in paragraph (13). Regulations may not be made under paragraph (14) unless a draft of the regulations has been laid before, and approved by a resolution of, the Assembly. Regulations may— modify this Part as it applies in relation to a company for which there is a special administration regime, or make provision in connection with the interaction between this Part and any other insolvency procedure in relation to such a company. The power in paragraph (1) may, in particular, be used to amend, repeal, revoke or otherwise modify any statutory provision. In this Article— Section 4(1)

relevant accelerated debt — any pre-moratorium debt that fell due during the relevant period by reason of the operation of, or the exercise of rights under, an acceleration or early termination clause in a contract or other instrument involving financial services Schedule 3, paragraph 13(4)

relevant authority — the Department or the Secretary of State Section 28(4)

relevant business tenancy — — a tenancy to which Part 2 of the Landlord and Tenant Act 1954 applies, or a tenancy to which that Part of that Act would apply if any relevant occupier were the tenant; “relevant occupier” in relation to a tenancy, means a person, other than the tenant, who lawfully occupies premises which are, or form part of, the property comprised in the tenancy; and “unregistered company” has the meaning given in Part 5 of the 1986 Act Schedule 10, paragraph 4(3)

relevant business tenancy — — a tenancy to which the Business Tenancies (Northern Ireland) Order 1996 (S.I. 1996/725 (N.I. 5)) applies, or a tenancy to which that Order would apply if any relevant occupier were the tenant; “relevant occupier” in relation to a tenancy, means a person, other than the tenant, who lawfully occupies premises which are, or form part of, the property comprised in the tenancy; and “unregistered company” has the meaning given in Part 6 of the 1989 Order Schedule 11, paragraph 3(3)

relevant creditor — — a creditor in respect of a moratorium debt, or a creditor in respect of a priority pre-moratorium debt Schedule 9, Part 1, paragraph 1(2)

relevant creditor — — a creditor in respect of a moratorium debt, or a creditor in respect of a priority pre-moratorium debt Schedule 9, Part 1, Part 26A, paragraph 901H(2)

relevant creditor — — a creditor in respect of a moratorium debt, or a creditor in respect of a priority pre-moratorium debt. The relevant creditors may not participate in the meeting summoned under section 896. For the purposes of section 897 (statement to be circulated or made available)— the requirement in section 897(1)(a) is to be read as including a requirement to send each relevant creditor a statement complying with section 897; any reference to creditors entitled to attend the meeting summoned under section 896 includes a reference to relevant creditors. The court may not sanction the compromise or arrangement under section 899 if it includes provision in respect of any relevant creditor who has not agreed to it. In this section— “moratorium debt”— in the case of a moratorium under Part A1 of the Insolvency Act 1986, has the same meaning as in section 174A of that Act; in the case of a moratorium under Part 1A of the Insolvency (Northern Ireland) Order 1989, has the same meaning as in Article 148A of that Order; “priority pre-moratorium debt”— in the case of a moratorium under Part A1 of the Insolvency Act 1986, has the same meaning as in section 174A of that Act; in the case of a moratorium… Schedule 9, Part 2, paragraph 35(5)

relevant payments — payments in respect of pre-moratorium debts for which the company has a payment holiday during the moratorium (see Article 13D) Section 13DJ(2)

relevant payments — payments in respect of pre-moratorium debts for which the company has a payment holiday during the moratorium (see Article 13D) Section 4(1)

relevant period — the period which— begins with 1 October 2021, and ends with 31 March 2022 Schedule 10, paragraph 4(1)

relevant period — the period which— begins with 1 October 2021, and ends with 31 March 2022 Schedule 11, paragraph 3(1)

relevant period — the period which— begins with 26 March 2020, and ends with 30 December 2020 29 March 2021 30 March 2021 Schedule 14, paragraph 2(1)

relevant period — the period which— begins with the day on which this Schedule comes into force, and ends with 30 September 2021 Schedule 4, Part 1, paragraph 1

relevant period — the period which— begins with the day on which this Schedule comes into force, and ends with 30 March 2022 Schedule 8, Part 1, paragraph 1

relevant period — the period which— begins with the day on which this section comes into force, and ends with 30 June 2021 Section 15(2)

relevant period — the period which— begins with the day on which this section comes into force, and ends with 30 June 2021 Section 19(2)

relevant petition — a petition under— section 124A (winding up on grounds of public interest), section 124B (winding up of SE), or section 124C (winding up of SCE) Schedule 1, paragraph 2(4)

relevant petition — a petition under— Article 104A (winding up on grounds of public interest), Article 104B (winding up of SE), or Article 104C (winding up of SCE) Schedule 5, paragraph 2(4)

relevant provision — — section 12(2), section 15(2), paragraph 1 of Schedule 4, or .. Section 41(2)

relevant provision — — section 13(2), section 19(2), paragraph 1 of Schedule 8, or .. Section 42(2)

relevant provision — — provision under section A50(1) or (4) of the Insolvency Act 1986 (power to modify moratorium provisions in relation to certain companies); provision under section A51(1) of the Insolvency Act 1986 (moratorium: power to make provision in connection with pension schemes); provision under paragraph 20 of Schedule ZA1 to the Insolvency Act 1986 to exclude private registered providers of social housing from being eligible companies for the purposes of Part A1 of that Act; provision under section 14 or 16 of the Limited Liability Partnerships Act 2000 (insolvency etc and power to make consequential amendments) to the extent that the provision is made in connection with the application of Part A1 of the Insolvency Act 1986 to limited liability partnerships that are registered providers of social housing; provision under section 245 of the Charities Act 2011 (insolvency etc of charitable incorporated organisations etc) to the extent that the provision applies, or is otherwise made in connection with, the new insolvency measures Section 43(2)

relevant provision — — provision under section A50(2) of the Insolvency Act 1986 (power to modify moratorium provisions in relation to certain companies); provision under paragraph 21 of Schedule ZA1 to the Insolvency Act 1986 (exclusion of registered social landlords from eligibility under Part A1 of that Act); provision under section 247A of the Charities Act 2011 (regulations about moratoriums for charitable incorporated organisations that are registered social landlords) Section 44(2)

relevant provision — — provision under section A50(3) of the Insolvency Act 1986 (power to modify moratorium provisions in relation to certain companies); provision under paragraph 22 of Schedule ZA1 to the Insolvency Act 1986 (exclusion of registered social landlords from eligibility under Part A1 of that Act) Section 45(2)

relevant provision — — provision under Article 13HA(1) of the Insolvency (Northern Ireland) Order 1989 (power to modify moratorium provisions in relation to certain companies); provision under Article 13HB(1) of that Order (moratorium: power to make provision in connection with pension schemes) Section 46(2)

Securities financing transaction — borrowed from another act; this instrument states no meaning of its own Schedule 12, Part 1, paragraph 1

Securities financing transaction — borrowed from another act; this instrument states no meaning of its own Schedule 13, Part 1, paragraph 1

special administration regime — provision made by any statutory provision for an insolvency procedure that— is similar or corresponds to ordinary administration, and provides for the administrator to have one or more special objectives instead of or in addition to the objectives of ordinary administration. Regulations may not be made under paragraph (1) unless a draft of the regulations has been laid before, and approved by a resolution of, the Assembly. A Northern Ireland department may by regulations provide that, in a case where— the Board of the Pension Protection Fund may exercise any of the following rights. a moratorium— is in force in relation to a company that is an employer in respect of an eligible scheme, or is or has been in force in relation to a company that has been an employer in respect of an eligible scheme at any time during the moratorium, and the trustees or managers of the scheme are a creditor of the company, The rights are those which are exercisable by the trustees or managers as a creditor of the company under or by virtue of— Article 13CC, or a court order under Article 13FB(4)(c). Regulations under paragraph (1) may provide that the Board may exercise any such rights— to the… Section 4(1)

specified — specified in the regulations Schedule 9, Part 1, paragraph 1(2)

specified — specified in regulations under this section Schedule 9, Part 1, paragraph 1(9)

specified — specified in the regulations Schedule 9, Part 1, Part 26A, paragraph 901B(2)

specified — specified in regulations under this section Schedule 9, Part 1, Part 26A, paragraph 901I(9)

specified maximum amount — an amount equal to the greater of— £5000, and 1% of the value of the debts and other liabilities owed by the company to its unsecured creditors when the moratorium began, to the extent that the amount of such debts and liabilities can be ascertained at that time. The monitor may give consent under paragraph (1)(a) only if the monitor thinks that it will support the rescue of the company as a going concern. In deciding whether to give consent under paragraph (1)(a), the monitor is entitled to rely on information provided by the company unless the monitor has reason to doubt its accuracy. If the company makes a payment to which paragraph (1) applies otherwise than as authorised by that paragraph— the company commits an offence, and any officer of the company who without reasonable excuse authorised or permitted the payment commits an offence. During a moratorium, the company may dispose of its property only if authorised by paragraph (2) or (5). In the case of property that is not subject to a security interest, the company may dispose of the property if— the disposal is made in the ordinary way of the company’s business, the monitor consents, or the disposal is in pursuance of a… Section 4(1)

the 1954 Act — the Interpretation Act (Northern Ireland) 1954 (c. 33 (N.I.)) Section 34(11)

the 1986 Act — the Insolvency Act 1986 Schedule 10, paragraph 4(3)

the 1989 Order — the Insolvency (Northern Ireland) Order 1989 (S.I. 1989/2405 (N.I. 19)) Schedule 11, paragraph 3(3)

the appropriate national authority — — in relation to a qualifying body within paragraph 1(c), (d), (e), (g), (h), or (i), the Secretary of State, in relation to a qualifying body within paragraph 1(f), the Scottish Ministers, and in relation to a qualifying body within paragraph 1(a) or (b), the Department for the Economy in Northern Ireland Schedule 14, paragraph 2(4)

the appropriate national authority — — in relation to qualifying bodies within paragraph 1(g) or (h), the Secretary of State, in relation to qualifying bodies within paragraph 1(c), (d), (e) or (i), the Treasury, in relation to qualifying bodies within paragraph 1(f), the Scottish Ministers, and in relation to qualifying bodies within paragraph 1(a) or (b), the Department for the Economy in Northern Ireland Schedule 14, paragraph 4(4)

the appropriate regulator — — where the company is a PRA-regulated person, each of the FCA and the PRA, except that the reference in subsection (7) to a person appointed by the appropriate regulator is to be read as a reference to a person appointed by either the FCA or the PRA; in any other case, the FCA; “authorised payment institution”, “small payment institution” and “registered account information service provider” have the same meaning as in the Payment Services Regulations 2017 (S.I. 2017/752) (see regulation 2 of those Regulations); “electronic money institution” has the same meaning as in the Electronic Money Regulations 2011 (S.I. 2011/99) (see regulation 2 of those Regulations). For the purpose of enforcing a requirement imposed on a company by section 355A(2) or (3), the appropriate regulator may exercise any of the following powers (so far as it would not otherwise be exercisable)— the power to publish a statement under section 205 (public censure); the power to impose a financial penalty under section 206. Accordingly, sections 205 and 206, and so much of this Act as relates to either of those sections, have effect in relation to a requirement imposed by section 355A(2) or (3) as if— any… Schedule 9, Part 2, paragraph 20(2)

the appropriate regulator — — where the regulated company is a PRA-regulated company, each of the Financial Conduct Authority and the Prudential Regulation Authority, and where the regulated company is not a PRA-regulated company, the Financial Conduct Authority; “PRA-authorised person” has the meaning given by section 2B(5) of the Financial Services and Markets Act 2000 Section 13H(13)

the Assembly — the Northern Ireland Assembly Schedule 14, paragraph 9(9)

the Assembly — the Northern Ireland Assembly Section 34(11)

the Assembly — the Northern Ireland Assembly Section 42(13)

the Assembly — the Northern Ireland Assembly Section 46(6)

the Department — the Department for the Economy in Northern Ireland Section 36(1)

the Department — the Department for the Economy in Northern Ireland Section 42(13)

the England and Wales Insolvency Rules — the Insolvency (England and Wales) Rules 2016 Schedule 4, Part 3, paragraph 50

The filing date — the date on which documents are filed with the court under section A3, A4 or A5 Schedule 1, paragraph 19(3)

The filing date — the date on which documents are filed with the High Court under Article 13B, 13BA or 13BB Schedule 5, paragraph 19(3)

the Insolvency Rules — the Insolvency Rules (Northern Ireland) 1991 (S.R. (N.I.) 1991/364) Schedule 8, Part 3, paragraph 53

the new insolvency measures — the provision made by— sections 1 to 3 and Schedules 1 to 4 (moratorium); sections 14 and 15 and Schedule 12 (termination clauses in supply contracts) Section 43(4)

the relevant application — — in the case of a compromise or arrangement to be sanctioned under Part 26, the application to the court under section 896; in the case of a compromise or arrangement to be sanctioned under Part 26A, the application to the court under section 901C(1) Schedule 9, Part 2, paragraph 36(15)

the relevant period — the period— beginning with the day on which the statement under section A6(1)(e) is made, and ending with the last day of the moratorium Schedule 3, paragraph 13(4)

the relevant period — the period— beginning with the day on which the statement under Article 13BC(1)(e) is made, and ending with the last day of the moratorium Schedule 7, paragraph 17(4)

the relevant persons — — the registrar, every creditor of the company of whose claim the monitor is aware, in a case where the company is or has been an employer in respect of an occupational pension scheme that is not a money purchase scheme, the Pensions Regulator, and in a case where the company is an employer in respect of such a pension scheme that is an eligible scheme within the meaning given by Article 110 of the Pensions (Northern Ireland) Order 2005, the Board of the Pension Protection Fund. This Chapter makes provision about the main effects of a moratorium for a company. The provision made by this Chapter includes restrictions on the enforcement or payment of the debts that are defined by paragraph (3) as pre-moratorium debts for which a company has a payment holiday during a moratorium. In this Part a reference to pre-moratorium debts for which a company has a payment holiday during a moratorium is to its pre-moratorium debts that have fallen due before the moratorium, or that fall due during the moratorium, except in so far as they consist of amounts payable in respect of— the monitor’s remuneration or expenses, goods or services supplied during the moratorium, rent in respect of a period… Section 4(1)

the Scottish Insolvency Rules — the Insolvency (Scotland) (Company Voluntary Arrangements and Administration) Rules 2018 (S.I. 2018/1082) Schedule 4, Part 4, paragraph 89

traded — admitted to trading on a market established under the rules of a recognised investment exchange or on a foreign market Schedule 1, paragraph 14(3)

traded — admitted to trading on a market established under the rules of a recognised investment exchange or on a foreign market Schedule 5, paragraph 14(3)

worker — an individual who is— a worker within the meaning of Article 3(3) of the Employment Rights (Northern Ireland) Order 1996, or an agency worker Section 13DC(6)

worker — an individual who is— a worker within the meaning of Article 3(3) of the Employment Rights (Northern Ireland) Order 1996, or an agency worker. This Article applies where there is an uncrystallised floating charge on the property of a company for which a moratorium is in force. During the moratorium, the holder of the floating charge may not give any notice which would have the effect of— causing the floating charge to crystallise, or causing the imposition, by virtue of provision in the instrument creating the charge, of any restriction on the disposal of property of the company. No other event occurring during the moratorium is to have the effect mentioned in paragraph (2)(a) or (b). Paragraph (5) applies where— the holder of a floating charge (“the chargee”) is prevented by paragraph (2) from giving a notice mentioned there during the moratorium, and under the terms of the floating charge, the time for giving such a notice ends during the moratorium or before the chargee is given notice of the end of the moratorium under Article 13CH. The chargee may give notice later than is required under the terms of the floating charge, but only if the chargee does so as soon as is… Section 4(1)