Corporate Insolvency and Governance Act and Legislation: Difference between pages

From ACT Wiki
(Difference between pages)
Jump to navigationJump to search
imported>Doug Williamson
(Add links.)
 
imported>Doug Williamson
(Add link.)
 
Line 1: Line 1:
''UK law - COVID-19''.
1.  


The UK's Corporate Insolvency and Governance Act 2020 was enacted in response to COVID-19.
Written law created by a central law-making body (rather than by the courts).


Among other changes, the Act:


*Introduced a credit moratorium for businesses, to give them more time to seek a rescue.
2. ''Tax''.
*Prohibited termination clauses engaging on insolvency, to prevent suppliers ceasing supply or asking for additional payments while companies enter rescue proceedings.
 
*Temporarily removed the threat of personal liability for wrongful trading for directors seeking to keep companies afloat during the crisis.
Taxation law derived from a Finance Act in the UK.
*Temporarily prohibited creditors from filing statutory demands or winding up petitions for COVID-19 related debt.
 




== See also ==
== See also ==
* [[Balance sheet insolvent]]
* [[Finance Act]]
* [[Cash flow insolvent]]
* [[Primary legislation]]
* [[Chapter 11]]
* [[Parliament]]
* [[Company voluntary arrangement]]
* [[Regulation]]
* [[Cost of financial distress]]
* [[Secondary legislation]]
* [[Creditors]]
* [[Statutory instrument]]
* [[Individual Voluntary Arrangement]]
* [[Insolvency]]
* [[Insolvency practitioner]]
* [[Insolvency Service]]
* [[London Approach]]
* [[Moratorium]]
* [[Restructuring plan]]
* [[Scheme of arrangement]]
* [[Solvency]]
* [[Statement of affairs]]
* [[Statutory demand]]
* [[Voluntary liquidation]]
* [[Winding up petition]]
* [[Wrongful trading]]


[[Category:Accounting,_tax_and_regulation]]
[[Category:Accounting,_tax_and_regulation]]
[[Category:The_business_context]]
[[Category:Compliance_and_audit]]

Revision as of 18:40, 26 March 2021

1.

Written law created by a central law-making body (rather than by the courts).


2. Tax.

Taxation law derived from a Finance Act in the UK.


See also

Retrieved from ‘https://wiki.treasurers.org/w/index.php?title=Corporate_Insolvency_and_Governance_Act&oldid=29854’