Schedule 17, paragraph 37(4)

In paragraph 40 (challenge of directors’ actions during moratorium) for sub-paragraph (7) substitute— Sub-paragraph (8) applies where— the appointment of an administrator has effect in relation to the company and the appointment took effect before the moratorium came into force, or the company is being wound up in pursuance of a petition presented before the moratorium came into force. No application for an order under this paragraph may be made by a creditor or member of the company; but such an application may be made instead by the administrator or (as the case may be) the liquidator.

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Source: legislation.gov.uk · retrieved 2026-09-04