{
  "url": "https://openlegislation.uk/insolvency-northern-ireland-order-1989/article-13HC",
  "json_url": "https://openlegislation.uk/insolvency-northern-ireland-order-1989/article-13HC.json",
  "legislation": "nisi/1989/2405",
  "legislation_title": "The Insolvency (Northern Ireland) Order 1989",
  "legislation_url": "https://openlegislation.uk/insolvency-northern-ireland-order-1989",
  "path": "article/13HC",
  "kind": "article",
  "number": "13HC",
  "heading": "Void provisions in floating charge documents",
  "text": "(1) A provision in an instrument creating a floating charge is void if it provides for the obtaining of a moratorium, or anything done with a view to obtaining a moratorium, to be—\n(a) an event causing the floating charge to crystallise,\n(b) an event causing restrictions which would not otherwise apply to be imposed on the disposal of property by the company, or\n(c) a ground for the appointment of a receiver.\n(2) The reference in paragraph (1) to anything done with a view to obtaining a moratorium includes any preliminary decision or investigation.\n(3) In paragraph (1) “receiver” includes a manager and a person who is appointed both receiver and manager.\n(4) Paragraph (1) does not apply to a provision in an instrument creating a floating charge that is—\n(a) a collateral security (as defined by Article 13DI);\n(b) a market charge (as defined by Article 13DI);\n(c) a security financial collateral arrangement (within the meaning of regulation 3 of the Financial Collateral Arrangements (No. 2) Regulations 2003 (S.I. 2003/3226));\n(d) a system-charge (as defined by Article 13DI).",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "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))"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/nisi/1989/2405/article/13HC",
    "retrieved_at": "2026-10-29T04:47:04.938020+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}