Official Gazette Notification Text
Official TranscriptStatus: This is the original version (as it was originally made). This item of legislation is currently only available in its original format. STATUTORY INSTRUMENTS 2020 No. 1483 INSOLVENCY COMPANIES The Corporate Insolvency and Governance Act 2020 (Coronavirus) (Extension of the Relevant Period) (No. 2) Regulations 2020 Approved by both Houses of Parliament Made - - - - 8th December 2020 Laid...
Status: This is the original version (as it was originally made). This item of legislation is currently only available in its original format.
STATUTORY INSTRUMENTS 2020 No. 1483 INSOLVENCY COMPANIES The Corporate Insolvency and Governance Act 2020 (Coronavirus) (Extension of the Relevant Period) (No. 2) Regulations 2020 Approved by both Houses of Parliament 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).
Citation and commencement
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.
Amendment of the Corporate Insolvency and Governance Act 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”.
(1) 2020 c.12.
(2) “relevant provision” and “coronavirus” have the meaning given by section 41(2) of the Corporate Insolvency and Governance Act 2020.Document Generated: 2023-04-27
Status: This is the original version (as it was originally made). This item of legislation is currently only available in its original format.
Callanan Parliamentary Under Secretary of State Department for Business, Energy and Industrial 8th December 2020 Strategy 2Document Generated: 2023-04-27
Status: This is the original version (as it was originally made). This item of legislation is currently only available in its original format.
EXPLANATORY NOTE (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 at www.legislation.gov.uk.
3