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Insolvency: Coronavirus

Question for Department for Business, Energy and Industrial Strategy

UIN HL9733, tabled on 28 October 2020

To ask Her Majesty's Government, further to paragraph 7.7 of the Explanatory Memorandum to the Corporate Insolvency and Governance (Coronavirus) (Extension of the Relevant Period) Regulations 2020, when will (1) the permanent procedural moratorium rules be laid before Parliament under the Corporate and Insolvency Governance Act 2020, and (2) the consultation with the Insolvency Rules Committee regarding the permanent rules covering England and Wales commence.

Answered on

11 November 2020

Work on amendments to the Insolvency (England and Wales) Rules 2016 to provide permanent procedural rules for the moratorium introduced by the Corporate Insolvency and Governance Act 2020 is ongoing and the relevant regulations will be laid when Parliamentary time allows. The Government is aware that the current temporary provision expires on 30 March 2021 (subject to any extensions) and will have regard to that fact for the purpose of preparing and laying the permanent rules.

The Government intends that consultation with the Insolvency Rules Committee regarding these rules, as required by law, will commence in November 2020.

Separate rules will be required for Scotland and, since this area is partially devolved, the timing of those rules will be subject to further discussions with the Scottish Government.