Power to amend corporate insolvency or governance legislation Section 21: Purposes
This section sets out conditions for using the power, in that it may only be used to reduce or assist in reducing the number of companies entering insolvency processes or restructuring procedures, to mitigate the impact of an increased number of cases entering those procedures, or to mitigate the effect of the insolvency regime on the responsibilities of directors of those companies whose businesses are struggling due to the impact of the COVID-19 pandemic.