# Corporate Insolvency and Governance Act 2020, Paragraph 5

Extent: E+W+S

During the relevant period, a company is not eligible for the purposes of section A3, A4 or A5 of the Insolvency Act 1986 if the company—
(a) has permission under Part 4A of the Financial Services and Markets Act 2000 to carry on a regulated activity within the meaning of that Act, and
(b) is not subject to a requirement imposed under that Act to refrain from holding money for clients.

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Source: https://www.legislation.gov.uk/ukpga/2020/12/schedule/4/paragraph/5 (the official version)
Page: https://openlegislation.uk/corporate-insolvency-and-governance-act-2020/schedule-4/paragraph-5
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.