Company Voluntary Arrangements (CVAs) - Changes to eligibility to apply for a CVA with a moratorium
Schedule A1 - Insolvency Act 1986 - Paragraph 5 - CVAs - Secretary of State's Powers to change law
We have set out earlier in Paragraph 4 of Schedule A1 (to include Paragraphs 4A to 4K) those organisations that are not permitted by law to propose a CVA with a moratorium. Paragraph 5 of the same Schedule gives the Secretary of State power to amend the ineligibility provisions from time to time, if needed, by issuing a statutory instrument.
The actual wording of Paragraph 5 of Schedule A1 to The Insolvency Act 1986 is reproduced below in bold.
The Secretary of State may by regulations modify the qualifications for eligibility of a company for a moratorium.