- Statutory demands and winding-up petitions will continue to be restricted until 30 June 2021.
- Termination clauses are still prohibited, stopping suppliers from ceasing their supply or asking for additional payments while a company is going through a rescue process. Small suppliers will remain exempted from the obligation to supply until 30 June 2021.
- The modifications to the new moratorium procedure, which relax the entry requirements to it, will also be extended until 30 June 2021.
- The temporary moratorium rules will also be extended to the end of June.
- The Government has temporarily (until June 30 2021) removed the threat of personal liability arising from wrongful trading for directors who continue to trade a company through the pandemic with the uncertainty that the company may not be able to avoid insolvency in the future.
The Corporate Insolvency and Governance Act 2020 (Coronavirus) (Extension of the Relevant Period) Regulations 2021
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