Insolvency, Restructuring and Dissolution Act 2018 · 2020 Revised Edition · Part 5A · Simplified Restructuring of Debts
72J. Discharge of company from simplified debt restructuring programme on grounds of unsuitability
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A company that has entered into the simplified debt restructuring programme under section 72E must, during the moratorium period, continue to satisfy the requirements under section 72F(1) in order to remain on the programme.
company
“company” has the meaning given by section 4(1) of the Companies Act 1967;
If the Restructuring Adviser of the company finds that —
the company no longer satisfies any of the requirements in section 72F(1); or
the company has entered into the simplified debt restructuring programme on the basis of information or documents not known to or seen by the Restructuring Adviser, and that the Restructuring Adviser would have decided that the company does not meet the requirements under section 72F(1) at the time of entry had he or she known of or seen the information or document, the Restructuring Adviser must discharge the company from the simplified debt restructuring programme.
Notice of every discharge under this section must be published by the Restructuring Adviser on the designated website.
designated website
“designated website” means the Internet website prescribed by regulations made under section 72V for the purpose of publishing notices to creditors and other persons under this Part;