Company Voluntary Arrangements (CVAs) with a moratorium - Definitions of words used

Paragraph 1 of Schedule A1 the Insolvency Act 1986 - Legal definitions of words & phrases used in this insolvency law

 

The actual wording of Paragraph 1 of Schedule A1 to The Insolvency Act 1986 concerning the legal definitions of certain words and phrases relating to Company Voluntary Arrangements (CVAs) with a moratorium is reproduced below in bold.

 

Paragraph 1 of Schedule A1 to The Insolvency Act 1986

1 Interpretation

 

In this Schedule—

 “the beginning of the moratorium” has the meaning given by paragraph 8(1), [In turn Paragraph 8 (1) provides "A moratorium comes into force when the documents for the time being referred to in Paragraph 7 (1) are filed or lodged with the court and references to this SChedule to "the beginning of the moratorium" shall be construed accordingly."]


 “the date of filing” means the date on which the documents for the time being referred to in paragraph 7(1) are filed or lodged with the court,


 “hire-purchase agreement” includes a conditional sale agreement, a chattel leasing agreement and a retention of title agreement,


 “market contract” and “market charge” have the meanings given by Part VII of the Companies Act 1989,

 . . .

 “moratorium” means a moratorium under section 1A,


 “the nominee” includes any person for the time being carrying out the functions of a nominee under this Schedule,

 . . .

 “the settlement finality regulations” means the Financial Markets and Insolvency (Settlement Finality) Regulations 1999,


 “system-charge” has the meaning given by the  Financial Markets and Insolvency Regulations 1996.

 

The law relating to Company Voluntary Arrangements (CVAs) with a moratorium has its own set of definitions of certain words and phrases used in that law as set out in Schedule A1 to The Insolvency Act 1986. The definitions are found in Paragraph 1 of Schedule A1 of certain key matters such as; when does the moratorium begin; and, what does the phrase "hire purchase agreement" also include.