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The Corporate Insolvency and Governance Act 2020 (Coronavirus) (Suspension of Liability for Wrongful Trading and Extension of the Relevant Period) Regulations 2020

Consolidated Text As Enacted Cited authorities 17 Cited in Related
Vincent
JurisdictionUK Non-devolved
CitationSI 2020/1349
  • These Regulations may be cited as the Corporate Insolvency and Governance Act 2020 (Coronavirus) (Suspension of Liability for Wrongful Trading and Extension of the Relevant Period) Regulations 2020 and come into force on 26th November 2020.
    • (1) In determining for the purposes of section 214 or 246ZB of the Insolvency Act 1986 begins with 26th November 2020, andends with F1130th June 2021.(3) Paragraph (1) does not apply if at any time during the relevant period the company concerned is excluded from being eligible by any of the paragraphs of Schedule ZA1 to the Insolvency Act 1986 listed in paragraph (4) , as they apply for the purposes of this paragraph (see paragraph (5) ) .paragraph 3 (insurance companies) ,paragraph 4 (banks) ,paragraph 5 (electronic money institutions) ,paragraph 6 (investment banks and investment firms) ,paragraph 9 (payment institutions) ,paragraph 10 (operators of payment systems etc) ,paragraph 11 (recognised investment exchanges, clearing houses, etc) ,paragraph 12 (securitisation companies) ,paragraph 13 (parties to capital market arrangements) ,paragraph 15 (public-private partnership project companies) , andparagraph 18 (certain overseas companies) .the words “, on the filing date” were omitted, andparagraph (b) were omitted, andparagraph 18 of that Schedule has effect as if for “paragraph 2” in both places, there were substituted “ paragraphs 2, 7 and 8 ”.has permission under Part 4A of the Financial Services and Markets Act 2000 is not subject to a requirement imposed under that Act to refrain from holding money for clients.in so far as it relates to section 214 of the Insolvency Act 1986, as if it were contained in Part 4 of that Act, andin so far as it relates to section 246ZB of the Insolvency Act 1986, as if it were contained in Part 6 of that Act.a society that is registered within the meaning of the Friendly Societies Act 1974

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