Section 13DI

If a company enters into a transaction to which this Article applies during a moratorium for the company— the company commits an offence, and any officer of the company who without reasonable excuse authorised or permitted the company to enter into the transaction commits an offence. A company enters into a transaction to which this Article applies if it— enters into a market contract, enters into a financial collateral arrangement, gives a transfer order, grants a market charge or a system-charge, or provides any collateral security. Where during the moratorium a company enters into a transaction to which this Article applies, nothing done by or in pursuance of the transaction is to be treated as done in contravention of any of Articles 13DA, 13DC, 13DG, 13DH and 13DJ to 13DN. In this Article— “collateral security” has the same meaning as in the Financial Markets and Insolvency (Settlement Finality) Regulations 1999 (S.I. 1999/2979); “financial collateral arrangement” has the same meaning as in the Financial Collateral Arrangements (No. 2) Regulations 2003 (S.I. 2003/3226); “market charge” has the same meaning as in Part 5 of the Companies (No. 2) (Northern Ireland) Order 1990; “market contract” has the same meaning as in Part 5 of the Companies (No. 2) (Northern Ireland) Order 1990; “system-charge” has the meaning given by the Financial Markets and Insolvency Regulations (Northern Ireland) 1996 (S.R. 1996/252); “transfer order” has the same meaning as in the Financial Markets and Insolvency (Settlement Finality) Regulations 1999 (S.I. 1999/2979).

← 6 · All articles · 1 →

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