Moratorium Chapter 4: sets out the effect of moratorium on the company and its creditors Schedule ZA2
New Schedule ZA2 (Moratorium: contract or other instrument involving financial services) is inserted into the Insolvency Act 1986, immediately after Schedule ZA1. It sets out the type of contracts which fall under the definition of a "contract or other instrument involving financial services" in section A18, which provides that pre-moratorium debts and liabilities arising from such contracts and falling due before or during the moratorium will not be caught by the definition of pre-moratorium debts for which a company has a payment holiday during a moratorium. Such contracts include market contracts, qualifying collateral arrangements and property transfers, contracts secured by certain charges or arrangements, default arrangements and transfer orders, capital market arrangements, contracts forming part of a public-private partnership, derivatives, financial contracts, spot contracts, card-based payment transactions and securities financing transactions. The Secretary of State may amend the meaning of "contract or other instrument involving financial services" by regulations subject to the affirmative resolution procedure.