- a resolution for voluntary winding up
means a resolution passed under either of the sub-paragraphs of Article 70(1);
- acquired property
means property of the company which directly or indirectly represents the property disposed of.
- administrative receiver
has the meaning given by Article 5(1), • “administrator” has the meaning given by paragraph 2 and, where the context requires, includes a reference to a former administrator, •................................ • “correspondence” includes correspondence by telephonic or other electronic means, • “creditors' meeting” has the meaning given by paragraph 51, • “enters administration” has the meaning given by paragraph 2, • “floating charge” means a charge which is a floating charge on its creation, • “in administration” has the meaning given by paragraph 2, • “hire-purchase agreement” includes a conditional sale agreement, a chattel leasing agreement and a retention of title agreement, • “holder of a qualifying floating charge” in respect of a company's property has the meaning given by paragraph 15, • “market value” means the amount which would be realised on a sale of property in the open market by a willing vendor, • “the purpose of administration” means an objective specified in paragraph 4, and • “unable to pay its debts” has the meaning given by Article 103.
- administrator
has the meaning given by paragraph 2 and, where the context requires, includes a reference to a former administrator, •................................ • “correspondence” includes correspondence by telephonic or other electronic means, • “creditors' meeting” has the meaning given by paragraph 51, • “enters administration” has the meaning given by paragraph 2, • “floating charge” means a charge which is a floating charge on its creation, • “in administration” has the meaning given by paragraph 2, • “hire-purchase agreement” includes a conditional sale agreement, a chattel leasing agreement and a retention of title agreement, • “holder of a qualifying floating charge” in respect of a company's property has the meaning given by paragraph 15, • “market value” means the amount which would be realised on a sale of property in the open market by a willing vendor, • “the purpose of administration” means an objective specified in paragraph 4, and • “unable to pay its debts” has the meaning given by Article 103.
- agency worker
has the meaning given by Article 15(2) of the Employment Relations (Northern Ireland) Order 1999;
- agent
includes any banker or solicitor of the company and any person employed by the company as auditor, whether that person is or is not an officer of the company.
- Agreement
includes any agreement or undertaking effected by—
- approved intermediary
means an individual for the time being approved by a competent authority to act as an intermediary between a person wishing to make an application for a debt relief order and the official receiver.
- approved pension arrangement
has the same meaning as in Article 12 of the Welfare Reform Order, • “unapproved pension arrangement” has the same meaning as in Article 13 of that Order.
- arbitration agreement
has the same meaning as in Part I of the Arbitration Act 1996;
- assignment
includes an assignment by way of security or charge on book debts, and
- authorised deposit taker
means a person with permission under Part IV of the Financial Services and Markets Act 2000 (c. 8) to accept deposits, and • “the general prohibition” has the meaning given by section 19 of that Act.
- bankrupt
means an individual who has been adjudged bankrupt and, in relation to a bankruptcy order, it means the individual adjudged bankrupt by that order;
- bankruptcy order
means an order adjudging an individual bankrupt;
- bankruptcy petition
means a petition to the High Court for a bankruptcy order;
- body corporate
includes a body incorporated outside Northern Ireland, but does not include— (a) a corporation sole, or (b) a partnership that, whether or not a legal person, is not regarded as a body corporate under the law by which it is governed;
- bond
means—
- books or papers
includes accounts, deeds, writing and documents;
- building
includes any structure or erection, and any part of a building as so defined, but does not include plant and machinery comprised in a building, • “building operations” includes— (a) demolition of buildings, (b) filling in of trenches, (c) rebuilding, (d) structural alterations of, or additions to, buildings and (e) other operations normally undertaken by a person carrying on business as a builder, • “designated disadvantaged area” means an area designated as a disadvantaged area under section 92 of the Finance Act 2001 (c. 9), • “engineering operations” includes the formation and laying out of means of access to highways, • “project company” has the meaning given by paragraph 7 of Schedule 1A, • “step-in rights” has the meaning given by paragraph 6 of that Schedule, • “substance” means any natural or artificial substance whether in solid or liquid form or in the form of a gas or vapour, and • “waste” includes any waste materials, spoil, refuse or other matter deposited on land.
- building operations
includes— (a) demolition of buildings, (b) filling in of trenches, (c) rebuilding, (d) structural alterations of, or additions to, buildings and (e) other operations normally undertaken by a person carrying on business as a builder, • “designated disadvantaged area” means an area designated as a disadvantaged area under section 92 of the Finance Act 2001 (c. 9), • “engineering operations” includes the formation and laying out of means of access to highways, • “project company” has the meaning given by paragraph 7 of Schedule 1A, • “step-in rights” has the meaning given by paragraph 6 of that Schedule, • “substance” means any natural or artificial substance whether in solid or liquid form or in the form of a gas or vapour, and • “waste” includes any waste materials, spoil, refuse or other matter deposited on land.
- business
includes a trade or profession;
- business day
means any day other than a Saturday, a Sunday, Christmas Day, Good Friday or a day which is a bank holiday in Northern Ireland under the Banking and Financial Dealings Act 1971;
- business document
means— whether in hard copy, electronic or any other form.
- capital market arrangement
means an arrangement of a kind described in paragraph 1 of Schedule 1A, and • “capital market investment” means an investment of a kind described in paragraph 2 or 3 of that Schedule.
- Capital market investment
has the meaning given by paragraph 14 of Schedule ZA1.
- centre of main interests
has the same meaning as in Article 3 of the EU Regulation.
- cessation
means the time when he ceases to be the company's administrator.
- chattel leasing agreement
means an agreement for the bailment of goods which is capable of subsisting for more than 3 months;
- collateral security
has the same meaning as in the Financial Markets and Insolvency (Settlement Finality) Regulations 1999 (S.I. 1999/2979);
- commercial paper
has the meaning given by article 9(3) of that Order.
- commodities
includes—
- company
has the same meaning as in Article 180.
- competent authority
means a person or body for the time being designated by the Department for the purposes of granting approvals under this Article.
- condition
includes a condition requiring that the High Court be satisfied of something.
- consent
means consent of—
- consolidated situation
means the situation that results from an entity being treated, for the purposes of Part 9C rules, Regulation (EU) 575/2013 or CRR rules (as appropriate), as if that entity and one or more other entities formed a single entity;
- contract or other instrument involving financial services
has the same meaning as it has for the purposes of Article 13D (see Schedule ZA2);
- contributory
means every person liable to contribute to the assets of a company in the event of its being wound up, and for the purposes of all proceedings for determining, and all proceedings prior to the final determination of, the persons who are to be deemed contributories, includes any person alleged to be a contributory.
- corporate member
means an insolvent member which is a company;
- correspondence
includes correspondence by telephonic or other electronic means, • “creditors' meeting” has the meaning given by paragraph 51, • “enters administration” has the meaning given by paragraph 2, • “floating charge” means a charge which is a floating charge on its creation, • “in administration” has the meaning given by paragraph 2, • “hire-purchase agreement” includes a conditional sale agreement, a chattel leasing agreement and a retention of title agreement, • “holder of a qualifying floating charge” in respect of a company's property has the meaning given by paragraph 15, • “market value” means the amount which would be realised on a sale of property in the open market by a willing vendor, • “the purpose of administration” means an objective specified in paragraph 4, and • “unable to pay its debts” has the meaning given by Article 103.
- credit institution
has the meaning given in Article 4.1(1) of the capital requirements regulation;
- creditor
includes a contingent creditor and a prospective creditor.
- debt relief order
means an order made by the official receiver under Part 7A;
- debt relief restrictions undertaking
means an order made, or an undertaking accepted, under Schedule 2ZB;
- debtor
means— (a) in relation to an application for a debt relief order, the applicant;
- deposit
means rights of the kind described in—
- derivative
has the same meaning as in Article 2(5) of Regulation (EU) No 648/2012.
- designated disadvantaged area
means an area designated as a disadvantaged area under section 92 of the Finance Act 2001 (c. 9), • “engineering operations” includes the formation and laying out of means of access to highways, • “project company” has the meaning given by paragraph 7 of Schedule 1A, • “step-in rights” has the meaning given by paragraph 6 of that Schedule, • “substance” means any natural or artificial substance whether in solid or liquid form or in the form of a gas or vapour, and • “waste” includes any waste materials, spoil, refuse or other matter deposited on land.
- develop
means to carry out—
- director
includes a shadow director.
- document
includes summons, notice, order and other legal process, and registers;
- domestic proceedings
means domestic proceedings within the meaning of the Magistrates' Courts (Northern Ireland) Order 1981;
- dwelling house
includes any building or part of a building which is occupied as a dwelling and any yard, garden, garage or outhouse belonging to the dwelling house and occupied with it;
- eligible deposit
means a deposit in respect of which the person, or any of the persons, to whom it is owed would be eligible for compensation under the Financial Services Compensation Scheme.
- eligible person
means—
- eligible scheme
has the meaning given by Article 110 of the Pensions (Northern Ireland) Order 2005.
- employment
includes employment under a contract for services.
- engineering operations
includes the formation and laying out of means of access to highways, • “project company” has the meaning given by paragraph 7 of Schedule 1A, • “step-in rights” has the meaning given by paragraph 6 of that Schedule, • “substance” means any natural or artificial substance whether in solid or liquid form or in the form of a gas or vapour, and • “waste” includes any waste materials, spoil, refuse or other matter deposited on land.
- enters administration
has the meaning given by paragraph 2, • “floating charge” means a charge which is a floating charge on its creation, • “in administration” has the meaning given by paragraph 2, • “hire-purchase agreement” includes a conditional sale agreement, a chattel leasing agreement and a retention of title agreement, • “holder of a qualifying floating charge” in respect of a company's property has the meaning given by paragraph 15, • “market value” means the amount which would be realised on a sale of property in the open market by a willing vendor, • “the purpose of administration” means an objective specified in paragraph 4, and • “unable to pay its debts” has the meaning given by Article 103.
- establishment
has the same meaning as in Article 2(10) of the EU Regulation.
- excepted petition
means a petition under—
- excluded debt
means a debt of any description prescribed for the purposes of this paragraph.
- false statement offence
means an offence under Article 7 or 10 of the Perjury (Northern Ireland) Order 1979 (S.I. 1979/1714 (N.I. 19)) (false statements made on oath otherwise than in judicial proceedings or made otherwise than on oath).
- family proceedings
has the meaning given by Article 12(5) of the Family Law (Northern Ireland) Order 1993;
- financial collateral arrangement
has the same meaning as in the Financial Collateral Arrangements (No. 2) Regulations 2003 (S.I. 2003/3226);
- Financial contract
means—
- fine
includes any pecuniary penalty, pecuniary forfeiture or pecuniary compensation payable on a conviction;
- floating charge
means a charge which is a floating charge on its creation and which is created after the first order under paragraph (2)(a) comes into operation, and • “prescribed” means prescribed by order by the Department.
- foreign market
has the same meaning as “relevant market” in article 67(2) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (S.I. 2005/1529) (foreign markets);
- full authorisation
means authorisation to act as an insolvency practitioner in relation to companies, individuals and insolvent partnerships;
- guaranteed minimum pension
has the same meaning as in the Pension Schemes (Northern Ireland) Act 1993.
- hire-purchase agreement
includes a conditional sale agreement, a chattel leasing agreement and a retention of title agreement, • “holder of a qualifying floating charge” in respect of a company's property has the meaning given by paragraph 15, • “market value” means the amount which would be realised on a sale of property in the open market by a willing vendor, • “the purpose of administration” means an objective specified in paragraph 4, and • “unable to pay its debts” has the meaning given by Article 103.
- in administration
has the meaning given by paragraph 2, • “hire-purchase agreement” includes a conditional sale agreement, a chattel leasing agreement and a retention of title agreement, • “holder of a qualifying floating charge” in respect of a company's property has the meaning given by paragraph 15, • “market value” means the amount which would be realised on a sale of property in the open market by a willing vendor, • “the purpose of administration” means an objective specified in paragraph 4, and • “unable to pay its debts” has the meaning given by Article 103.
- income payments agreement
means a written agreement between a bankrupt and his trustee or between a bankrupt and the official receiver which provides—
- individual member
means an insolvent member who is an individual;
- inland revenue official
means any inspector or collector of taxes appointed by the Commissioners of Inland Revenue or any person appointed by the Commissioners to serve in any other capacity.
- insolvency administration
means the administration in bankruptcy of the insolvent estate of a deceased person;
- insolvency administration order
means an order for the administration in bankruptcy of the insolvent estate of a deceased debtor (being an individual at the date of his death);
- insolvency administration petition
means a petition for an insolvency administration order;
- insolvency office-holder
means—
- insolvency order
means— (a) in the case of an insolvent partnership or a corporate member, a winding-up order;
- insolvency petition
means— (a) in the case of a petition presented against a corporate member, a petition for its winding up by the High Court;
- insolvent member
means a member of an insolvent partnership, against whom an insolvency petition is being or has been presented;
- interim order
means an order under Article 226;
- intermediate arrangement
means a pension arrangement, other than the shared arrangement or the destination arrangement, in relation to which the following conditions are fulfilled—
- investment bank
means a company or other entity that has permission under Part 4A of the Financial Services and Markets Act 2000 to carry on the regulated activity of— (a) safeguarding and administering investments, (b) managing an AIF or a UCITS, (c) acting as trustee or depositary of an AIF or a UCITS, (d) dealing in investments as principal, or (e) dealing in investments as agent;
- investment firm
has the same meaning as in the Banking Act 2009 (see section 258A of that Act), disregarding any order made under section 258A(2)(b) of that Act;
- landlord
includes a person to whom rent is payable.
- liability
means (subject to paragraph (4)) a liability to pay money or money's worth, including any liability under a statutory provision, any liability for breach of trust, any liability in contract, tort or bailment and any liability arising out of an obligation to make restitution;
- liquidator
includes a provisional liquidator;
- listed
means admitted to the official list within the meaning given by section 103(1) of the Financial Services and Markets Act 2000 (interpretation);
- management power
means a power which could be exercised so as to interfere with the exercise of the administrator's powers,
- market charge
has the same meaning as in Part 5 of the Companies (No. 2) (Northern Ireland) Order 1990;
- market contract
has the same meaning as in Part 5 of the Companies (No. 2) (Northern Ireland) Order 1990;
- market value
means the amount which would be realised on a sale of property in the open market by a willing vendor, • “the purpose of administration” means an objective specified in paragraph 4, and • “unable to pay its debts” has the meaning given by Article 103.
- modifications
includes additions, alterations and omissions;
- money purchase scheme
has the meaning given by section 176(1) of the Pension Schemes (Northern Ireland) Act 1993;
- moratorium
means a moratorium under this Part;
- moratorium debt
has the meaning given by Article 13HD;
- non-UK branch
means a branch, as defined in Article 4(1)(17) of the capital requirements regulation, which is established outside the United Kingdom;
- occupational pension scheme
has the meaning given by section 1 of the Pension Schemes (Northern Ireland) Act 1993;
- officer
includes a shadow director.
- officer who is in default
means an officer of the company who knowingly and wilfully authorises or permits the default, refusal or contravention mentioned in the provision.
- on a consolidated basis
means on the basis of the consolidated situation;
- ordinary administration
means the insolvency procedure provided for by Schedule B1;
- ordinary non-preferential debts
means non-preferential debts which are neither secondary non-preferential debts nor tertiary non-preferential debts;
- Part 9C rules
has the meaning given in section 143F of the Financial Services and Markets Act 2000.
- partial authorisation
means authorisation to act as an insolvency practitioner— (a) only in relation to companies, or (b) only in relation to individuals;
- penalty
means a financial penalty under this Article.
- pension scheme
has the meaning given by section 1 of the Pension Schemes (Northern Ireland) Act 1993;
- pension-sharing transaction
means an order or provision falling within Article 25(1) of the Welfare Reform Order (orders and agreements which activate pension-sharing);
- permitted period
means the period beginning with the day on which the person became aware as mentioned in paragraph (3) or (4) and ending on the earlier of— (a) the expiry of the period of 6 weeks beginning with the day on which the person applies to the High Court as mentioned in paragraph (9)(a) or (b), and (b) the day on which the High Court disposes of the application (by granting or refusing it • “replacement order” has the meaning given by paragraph (6).
- personal injuries
includes death and any disease or other impairment of a person's physical or mental condition.
- pre-moratorium creditor
means a creditor in respect of a pre-moratorium debt—
- pre-moratorium debt
has the meaning given by Article 13HD;
- prescribed
means prescribed by order by the Department.
- priority pre-moratorium debt
means—
- project company
has the meaning given by paragraph 7 of Schedule 1A, • “step-in rights” has the meaning given by paragraph 6 of that Schedule, • “substance” means any natural or artificial substance whether in solid or liquid form or in the form of a gas or vapour, and • “waste” includes any waste materials, spoil, refuse or other matter deposited on land.
- property
includes money, goods, things in action, land and every description of property wherever situated and also obligations and every description of interest, whether present or future or vested or contingent, arising out of, or incidental to, property;
- public body
means—
- public-private partnership project
means a project—
- qualified person
means a person qualified to act as an insolvency practitioner;
- qualifying debt
means (subject to paragraph (3)) a debt which—
- rated
means rated for the purposes of investment by an internationally recognised rating agency;
- receiver
includes a manager and a person who is appointed both receiver and manager.
- recognised investment exchange
has the meaning given by section 285 of the Financial Services and Markets Act 2000 (recognised investment exchange).
- records
includes computer records and other non‐documentary records;
- redundancy payment
has the meaning given by Article 13D;
- regulated activity
has the meaning given by section 22 of the Financial Services and Markets Act 2000, taken with Schedule 2 to that Act and any order under that section.
- regulated business
means a business of a kind listed in paragraph 10 of Schedule 1A,
- regulated company
means a company which— (a) is, or has been, an authorised person within the meaning given by section 31 of the Financial Services and Markets Act 2000, (b) is, or has been, an appointed representative within the meaning given by section 39 of that Act, or (c) is carrying on, or has carried on, a regulated activity in contravention of the general prohibition within the meaning given by section 19 of that Act;
- regulations
means regulations made by the Department subject (except in Part 1A, Article 148A(6),Article 197C and Article 359(5)... and paragraph 61A of Schedule B1) to negative resolution;
- regulator
means the Financial Conduct Authority or the Prudential Regulation Authority.
- Regulatory objectives
means the objectives of—
- regulatory principles
means—
- relevant accelerated debt
means any pre-moratorium debt that fell due during the relevant period by reason of the operation of, or the exercise of rights under, an acceleration or early termination clause in a contract or other instrument involving financial services;
- relevant contributions
means contributions to the arrangement or any other pension arrangement—
- relevant financial institution
means any of the following—
- relevant payments
means payments in respect of pre-moratorium debts for which the company has a payment holiday during the moratorium (see Article 13D);
- relevant period
means— as the case may be.
- relevant person
means—
- relevant petition
means a petition under—
- relevant recognised professional body
has the same meaning as in Article 350O.
- remuneration
includes expenses properly incurred and any indemnity to which the administrative receiver or receiver is entitled out of the assets of the company,
- replacement order
has the meaning given by paragraph (6).
- resources
includes—
- responsible insolvency practitioner
means— (a) in winding up, the liquidator;
- retention of title agreement
means an agreement for the sale of goods to a company being an agreement— (a) which does not constitute a charge on the goods, but (b) under which, if the seller is not paid and the company is wound up, the seller will have priority over all other creditors of the company as respects the goods or any property representing the goods;
- SCE
has the same meaning as in the European Cooperative Society Regulation.
- SE
has the same meaning as in the EC Regulation.
- secondary non-preferential debts
means non-preferential debts issued under an instrument where—
- Securities financing transaction
has the meaning given by Article 3(11) of Regulation (EU) 2015/2365 on the transparency of securities financing transactions.
- security
means any mortgage, charge, lien or other security.
- sequestration or distress
includes a hold notice or a deduction notice under Part 1 of Schedule 8 to the Finance (No. 2) Act 2015 (enforcement by deduction from accounts) and, if paragraph (1) has effect in relation to a deduction notice, it also has effect in relation to the hold notice to which it relates (whenever the hold notice was given).
- special administration regime
means provision made by any statutory provision for an insolvency procedure that— (a) is similar or corresponds to ordinary administration, and (b) provides for the administrator to have one or more special objectives instead of or in addition to the objectives of ordinary administration.
- specified debt
means a debt specified in the application.
- specified maximum amount
means an amount equal to the greater of— (a) £5000, and (b) 1% of the value of the debts and other liabilities owed by the company to its unsecured creditors when the moratorium began, to the extent that the amount of such debts and liabilities can be ascertained at that time.
- specified qualifying debt
has the meaning given in Article 208G(1).
- Spot contract
has the meaning given by Article 7(2) or 10(2) of Commission Delegated Regulation of 25.4.2016 supplementing Directive 2014/65/EU of the European Parliament and of the Council as regards organisational requirements and operating conditions for investment firms and defined terms for the purposes of that Directive.
- statutory provision
has the meaning assigned to it by section 1(f) of the Interpretation Act (Northern Ireland) 1954;
- step-in rights
has the meaning given by paragraph 6 of that Schedule, and
- substance
means any natural or artificial substance whether in solid or liquid form or in the form of a gas or vapour, and • “waste” includes any waste materials, spoil, refuse or other matter deposited on land.
- supervisor
means a person acting as defined in Article 20(2);
- survivor
means the person who, immediately before the death, was beneficially entitled as joint tenant with the deceased or, if the person who was so entitled dies after the making of the insolvency administration order, his personal representatives.
- system-charge
has the meaning given by the Financial Markets and Insolvency Regulations (Northern Ireland) 1996 (S.R. 1996/252);
- tertiary non-preferential debts
means all subordinated debts, including (but not limited to) debts under Common Equity Tier 1 instruments, Additional Tier 1 instruments and Tier 2 instruments (all within the meaning of Part 1 of the Banking Act 2009).
- the 1986 Act
means the Insolvency Act 1986.
- the appropriate regulator
means— (a) where the regulated company is a PRA-regulated company, each of the Financial Conduct Authority and the Prudential Regulation Authority, and (b) where the regulated company is not a PRA-regulated company, the Financial Conduct Authority;
- the Bankruptcy Acts
means the Bankruptcy Acts (Northern Ireland) 1857 to 1980;
- the capital requirements regulation
means Regulation (EU) No. 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No. 648/2012.
- the charged value
means—
- the Commissioners
means the Commissioners for Her Majesty's Revenue and Customs.
- the Companies Acts
means the Companies Acts (as defined in section 2 of the Companies Act 2006) as they have effect in Northern Ireland;
- the company
means the transferor company, and
- the court
means the court which has jurisdiction in the bankruptcy proceedings.
- the debtor
means the company or the individual concerned.
- the Department
means the Department of Economic Development;
- the earlier bankruptcy
means the bankruptcy (or, as the case may be, most recent bankruptcy) from which the bankrupt has not been discharged at the commencement of the later bankruptcy, and
- the effective date
has the meaning given in Article 208E(7);
- the EU Regulation
means Regulation (EU) 2015/848 of the European Parliament and of the Council as it forms part of domestic law on and after exit day;
- the existing trustee
means the trustee (if any) of the bankrupt's estate for the purposes of the earlier bankruptcy.
- The filing date
means the date on which documents are filed with the High Court under Article 13B, 13BA or 13BB.
- the former administrator
means the person referred to in sub-paragraph (1), and • “cessation” means the time when he ceases to be the company's administrator.
- the general prohibition
has the meaning given by section 19 of that Act.
- the initial period
means the period between the presentation of the bankruptcy petition and the commencement of the bankruptcy;
- the Judgments Enforcement Order
means the Judgments Enforcement (Northern Ireland) Order 1981;
- the Land Registration Act
means the Land Registration Act (Northern Ireland) 1970;
- the later bankruptcy
means the bankruptcy arising from that order,
- the office‐holder
means the official receiver, the trustee in bankruptcy, the interim receiver or, the supervisor of the voluntary arrangement..., as the case may be.
- the official receiver
means, in relation to any bankruptcy, winding up, individual voluntary arrangement, debt relief order or application for such an order, any officer of the Department who by virtue of Article 355 or 357 is authorised to act as the official receiver in relation to that bankruptcy, winding up, individual voluntary arrangement, debt relief order or application for such an order;
- the purpose of administration
means an objective specified in paragraph 4, and • “unable to pay its debts” has the meaning given by Article 103.
- the recovery provisions
means this Article and Articles 315A and 315B;
- the register
means the register maintained under Article 208W;
- the registrar
means the registrar of companies for Northern Ireland;
- the Registration of Deeds Act
means the Registration of Deeds Act (Northern Ireland) 1970;
- the relevant date
means—
- The relevant day
means the day on which the liquidator was nominated by the company or the day on which he first became aware of the default, whichever is the later.
- the relevant period
means the period— (a) beginning with the day on which the statement under Article 13BC(1)(e) is made, and (b) ending with the last day of the moratorium.
- the relevant persons
means—
- the Rules
means the Insolvency Rules (Northern Ireland) 1999;