Section A28(2)

In subsection (1)— relevant payments means payments in respect of pre-moratorium debts for which the company has a payment holiday during the moratorium (see section A18); specified maximum amount means 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.

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