 |
[Home] [Databases] [World Law] [Multidatabase Search] [Help] [Feedback] | |
United Kingdom Statutory Instruments |
||
|
You are here: BAILII >> Databases >> United Kingdom Statutory Instruments >> The Corporate Insolvency and Governance Act 2020 (Coronavirus) (Extension of the Relevant Period) (No. 2) Regulations 2020 No. 1483 URL: http://www.bailii.org/uk/legis/num_reg/2020/uksi_20201483_en_1.html |
||
[New search] [Help]
This is the original version (as it was originally made). This item of legislation is currently only available in its original format.
Regulations made by the Secretary of State under section 41(1)(b) of the Corporate Insolvency and Governance Act 2020 (c.12), and laid before Parliament under section 41(4) of that Act, for approval by resolution of each House of Parliament, within forty days beginning with the day on which the instrument is made, subject to extension for periods of dissolution, prorogation or adjournment for more than four days.
Statutory Instruments
Insolvency
Companies
Made
8th December 2020
Laid before Parliament
9th December 2020
Coming into force
31st December 2020
The Secretary of State makes the following Regulations in exercise of the powers conferred by section 41(1)(b) of the Corporate Insolvency and Governance Act 2020( 1).
The Secretary of State considers it reasonable to amend the relevant provisions specified in regulation 2 of these Regulations so as to prolong the period for the time being specified in those provisions in order to mitigate an effect of coronavirus( 2).
1. These Regulations may be cited as the Corporate Insolvency and Governance Act 2020 (Coronavirus) (Extension of the Relevant Period) (No. 2) Regulations 2020 and come into force on 31st December 2020.
2. In paragraphs 1(3)(b) and 21(1)(b) of Schedule 10 to the Corporate Insolvency and Governance Act 2020 (winding-up petitions: Great Britain) for “31 December 2020” substitute “31 March 2021”.
Callanan
Parliamentary Under Secretary of State
Department for Business, Energy and Industrial Strategy
8th December 2020
(This note is not part of the Regulations)
These Regulations prolong the period within which the temporary provisions, which restrict the issuing of winding up petitions, in the Corporate Insolvency and Governance Act 2020 (c.12), (and referred to for the purposes of CIGA as the “relevant period”), are to have effect.
The relevant period for these temporary provisions was first prolonged by the Corporate Insolvency and Governance Act 2020 (Coronavirus) (Extension of the Relevant Period) Regulations ( S.I. 2020/1031). These Regulations now prolong the expiry of the relevant period for the temporary restrictions on winding up petitions so that it ends on 31st March 2021.
An impact assessment has not been prepared for this instrument. An Explanatory Memorandum has been published alongside this instrument atwww.legislation.gov.uk.
“relevant provision” and “coronavirus” have the meaning given by section 41(2) of the Corporate Insolvency and Governance Act 2020.