Article 13EE Replacement of monitor or appointment of additional monitorF1

(1)

The High Court may make an order authorising the appointment of a qualified person to act as the monitor in relation to a moratorium instead of, or in addition to, a person who already acts as the monitor.

(2)

The High Court may make an order providing that a person ceases to act as the monitor in relation to a moratorium.

(3)

An order under paragraph (1) or (2) may be made on only an application by the directors or the monitor.

(4)

The Court may make an order authorising the appointment of a monitor under paragraph (1) only if the person has provided the Court with a statement that the person—

(a)

is a qualified person, and

(b)

consents to act as the monitor in relation to the moratorium.

(5)

Where it is proposed that more than one person should act as the monitor in relation to the moratorium, the statement under paragraph (4) must specify—

(a)

which functions (if any) are to be exercised by the persons acting jointly, and

(b)

which functions (if any) are to be exercised by any or all of the persons.

(6)

The rules may make provision about the date on which the statement under paragraph (4) must be made.

(7)

Where the Court makes an order under paragraph (1) or (2) the person begins to act as the monitor, or ceases to act as the monitor, in relation to the moratorium at the time specified in, or determined in accordance with, the order (“the relevant time”).

(8)

As soon as reasonably practicable after the relevant time, the monitor must notify the following of the effect of the order—

(a)

the registrar,

(b)

every creditor of the company of whose claim the monitor is aware,

(c)

in a case where the company is or has been an employer in respect of an occupational pension scheme that is not a money purchase scheme, the Pensions Regulator, and

(d)

in a case where the company is an employer in respect of such a pension scheme that is an eligible scheme within the meaning given by Article 110 of the Pensions (Northern Ireland) Order 2005, the Board of the Pension Protection Fund.

(9)

If the monitor without reasonable excuse fails to comply with paragraph (8), the monitor commits an offence.

Annotations

Textual amendments

F1: Pt. 1A inserted (26.6.2020) by Corporate Insolvency and Governance Act 2020 (c. 12), ss. 4(1), 49(1) (with ss. 2(2), 5(2))

Notes on Part 1A

Modifications

C1: Pts. 1-5 modified by S.R. 2004/307 (as amended (1.10.2006) by Limited Liability Partnerships (Amendment) Regulations (Northern Ireland) 2006 (S.R. 2006/377), reg. 3, Sch. 2; (temp.) (27.4.2020 retrospective) by virtue of Corporate Insolvency and Governance Act 2020 (c. 12), Sch. 11 para. 8(1)(2), 14 (with ss. 2(2), 5(2)); (26.6.2020) by The Limited Liability Partnerships (Amendment etc.) Regulations 2020 (S.I. 2020/643), reg. 1(1), Sch. 2 (with reg. 3); (16.2.2021) by The Limited Liability Partnerships (Amendment etc.) Regulations 2021 (S.I. 2021/60), reg. 1(1), Sch. 2 (with reg. 4(2)))
C2: Pts. 1-5 applied (with modifications) (4.1.2024) by S.I. 2021/716, Sch. 1A para. 3 (as inserted by The Payment and Electronic Money Institution Insolvency (Amendment) Regulations 2023 (S.I. 2023/1399), reg. 1(2), Sch. 1)