News

The Corporate Insolvency and Governance Act 2020 update

The time period in the Act originally ran until 30 September 2020, this is now extended for a further 3 months to 30 December 2020

These regulations extend the 'relevant period' set out in Schedule 14 of the Corporate Insolvency and Governance Act 2020, meaning that SCIOs can continue to hold remote members meetings until 30 December 2020.

The continuing restrictions necessitated by COVID-19 mean that a SCIOs ability to hold general or members' meetings in person (where this is specified in the constitution) is limited. These regulations allow SCIOs to use remote methods, such as video conference or phone calls to hold meetings with their members if they need to.

The regulations have now been laid in the Scottish Parliament, a copy of the regulations and supporting information can be found here.

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