Rule 71 Amendment of Part 15 of the Insolvency Rules

After rule 15.23 insert—

“Adjournment of meeting in, or for the purposes of, a moratorium under Part A1 of the Act

15.23A.

(1)

This rule applies where a meeting is for the purpose of a decision procedure in respect of a moratorium under Part A1 of the Act.

(2)

Where this rule applies the chair may, (and must if it is so resolved), adjourn a meeting.

(3)

A meeting may be adjourned under this rule on more than one occasion.

(4)

An adjournment under this rule—

(a)

must not be—

(i)

for a period which is more than 14 days, or

(ii)

to a date which is more than 14 days after the first day on which the meeting was held, and

(b)

where a meeting is for the purpose of seeking a decision of creditors to a revised end date for a moratorium under section A11, must be to a date which is before the end of the moratorium^f1.

(5)

This rule is subject to any direction of the court.”.