Corporate Insolvency and Governance Bill — House of Commons, 2020-06-03
Topic: Domestic Commerce
Lucy Maria Powell (Labour, Centre-left): We are happy to withdraw our amendment on the basis that the Minister undertakes to address the concerns of the trade unions leadership—concerns which they have raised with us about the loss of rights that may result from the Bill—in his meeting with them tomorrow. I beg to ask leave to withdraw the amendment Amendment, by leave, withdrawn. Clauses 1 to 47 agreed to. Schedules 1 to 3 agreed to. Schedule 4 Moratoriums in Great Britain: temporary provision Amendment made: 15, page 144, line 14, at end insert— "Part 5 Entities other than companies 91 Regulations under section 14(1) of the Limited Liability Partnership Act 2000 may make provision applying or incorporating provision made by or under this Schedule, with such modifications as appear appropriate, in relation to a limited liability partnership registered in Great Britain 92 An order or regulations under section 118(1)(a), (3B) or (3C) of the Cooperative and Community Benefit Societies Act 2014 may provide for provision made by or under this Schedule to apply (with or without modifications) in relation to registered societies (or to registered societies of the kind mentioned there)."—(Paul Scully.) This amendment ensures that powers to apply Part A1 of the Insolvency Act 1986 to certain entities can also be used to apply Schedule 4 to the Bill. Schedule 4, as amended, agreed to. Schedules 5 and 6 agreed to. Schedule 7 Moratoriums in Northern Ireland: further amendments Amendment made: 16, page 165, line 4, leave out "2 to 8" and insert "2 to 5, 7 and 8".—(Paul Scully.) This amendment removes the repeal of paragraph 6 of Schedule 1 to the Insolvency (NI) Order 2002, as the amendment made by that paragraph remains relevant for certain limited purposes. Schedule 7, as amended, agreed to. Schedule 8 Moratoriums in Northern Ireland: temporary provision Amendment made: 17, page 178, line 14, at end insert— "Part 5 Entities other than companies 55 Regulations under section 14(1) of the Limited Liability Partnership Act 2000 may make provision applying or incorporating provision made by or under this Schedule, with such modifications as appear appropriate, in relation to a limited liability partnership registered in Northern Ireland 56 An order under Article 10(2) of the Insolvency (Northern Ireland) Order 2005 may provide for provision made by or under this Schedule to apply (with or without modification) in relation to— (a) a registered society within the meaning of the Co-operative and Community Benefit Societies Act (Northern Ireland) 1969, or (b) a credit union within the meaning of the Credit Unions (Northern Ireland) Order 1985."—(Paul Scully.) This amendment ensures that powers to apply Part 1A of the Insolvency (Northern Ireland) Order 1989 to certain entities can also be used to apply Schedule 8 to the Bill. Schedule 8, as amended, agreed to. Schedule 9 Arrangements and reconstructions for companies in financial difficulty Amendments made: 18, page 180, line 17, leave out "and 901I (special cases)" and insert "(moratorium debts, etc)" This amendment is consequential on amendment 21. Amendment 19, page 181, line 44, leave out from "etc)," to end of line 1 on page 182 This amendment is consequential on amendment 21. Amendment 20, page 183, line 34, after "as" insert "including" This amendment makes a minor drafting correction. Amendment 21, page 184, leave out lines 7 to 30 This amendment removes enhanced protection for creditors with interests in aircraft equipment, which will make it easier for airline companies to make use of the new restructuring process provided for by Part 26A of the Companies Act 2006. Amendment 22, page 194, line 40, leave out "and 899B (special cases)" and insert "(moratorium debts, etc)" This amendment is consequential on amendment 25. Amendment 23, page 194, line 44, leave out from "etc)," to end of line 45 This amendment is consequential on amendment 25. Amendment 24, page 195, line 24, after "as" insert "including" This amendment makes a minor drafting correction. Amendment 25, page 195, leave out from end of line 42 to beginning of line 21 on page 196.—(Paul Scully.) This amendment removes enhanced protection for creditors with interests in aircraft equipment, which will make it easier for airline companies to make use of the existing restructuring process provided for by Part 26 of the Companies Act 2006. Schedule 9, as amended, agreed to. Schedules 10 to 14 agreed to. The Deputy Speaker resumed the Chair. Bill, as amended, reported. Bill, as amended in the Committee, considered. Bill read the Third time and passed.