Power to change periods Section 41: Power to change duration of temporary provisions: Great Britain
This section provides a power, which allows the Secretary of State by regulations to amend relevant provisions, which relate to the COVID-19 pandemic and therefore only have temporary effect, by either curtailing the time period specified in that provision or prolonging it by up to six months. The provisions are: suspension of liability for wrongful trading; modifications relating to moratoriums, prohibition of petitions based on statutory demands; restriction on petitions where company affected by coronavirus; modification of Insolvency Rules; and temporary exclusion for small suppliers. The power can only be used to extend the period these measures are in place where the Secretary of State is satisfied that there is a requirement to do so to deal with an effect of Coronavirus.