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Change 1
As published
43 Period of moratorium.
(1) The moratorium in consequence of the taking of any step as mentioned in section 41—
(a) begins when the step is taken, and
(b) ends at the end of the period of 28 days beginning with the day on which notice of its having been taken was given to the Welsh Ministers under that section,
subject to the following provisions.
(2) The taking of any further step as mentioned in section 41 at a time when a moratorium is already in force does not start a further moratorium or affect the duration of the existing one.
(3) A moratorium may be extended from time to time with the consent of all the landlord’s secured creditors.
Notice of any such extension shall be given by the Welsh Ministers to—
(a) the landlord, and
(b) any liquidator, administrative receiver, receiver or administrator appointed in respect of the landlord or any land held by it.
(4) If during a moratorium the Welsh Ministers considers that the proper management of the landlord’s land can be secured without making proposals under section 44 (proposals as to ownership and management of landlord’s land), the Welsh Ministers may direct that the moratorium shall cease to have effect.
Before making any such direction the Welsh Ministers shall consult the person who took the step which brought about the moratorium.
(5) When a moratorium comes to an end, or ceases to have effect under subsection (4), the Welsh Ministers shall give notice of that fact to the landlord and the landlord’s secured creditors.
(6) When a moratorium comes to an end (but not when it ceases to have effect under subsection (4)), the following provisions of this section apply.
The Relevant Authority’s notice shall, in such a case, inform the landlord and the landlord’s secured creditors of the effect of those provisions.
(7) If any further step as mentioned in section 41 is taken within the period of three years after the end of the original period of the moratorium, the moratorium may be renewed with the consent of all the landlord’s secured creditors (which may be given before or after the step is taken).
Notice of any such renewal shall be given by the Welsh Ministers to the persons to whom notice of an extension is required to be given under subsection (3).
(8) If a moratorium ends without any proposals being agreed, then, for a period of three years the taking of any further step as mentioned in section 41 does not start a further moratorium except with the consent of the landlord’s secured creditors as mentioned in subsection (7) above.
Your change, as a redline
43 Period of moratorium.
(1) The moratorium in consequence of the taking of any step as mentioned in section 41—
(a) begins when the step is taken, and
(b) ends at the end of the period of 28 days beginning with the day on which notice of its having been taken was given to the Welsh Ministers under that section,
subject to the following provisions.
(2) The taking of any further step as mentioned in section 41 at a time when a moratorium is already in force does not start a further moratorium or affect the duration of the existing one.
(3) A moratorium may be extended from time to time with the consent of all the landlord’s secured creditors.
Notice of any such extension shall be given by the Welsh Ministers to—
(a) the landlord, and
(b) any liquidator, administrative receiver, receiver or administrator appointed in respect of the landlord or any land held by it.
(4) If during a moratorium the Welsh Ministers considers that the proper management of the landlord’s land can be secured without making proposals under section 44 (proposals as to ownership and management of landlord’s land), the Welsh Ministers may direct that the moratorium shall cease to have effect.
Before making any such direction the Welsh Ministers shall consult the person who took the step which brought about the moratorium.
(5) When a moratorium comes to an end, or ceases to have effect under subsection (4), the Welsh Ministers shall give notice of that fact to the landlord and the landlord’s secured creditors.
(6) When a moratorium comes to an end (but not when it ceases to have effect under subsection (4)), the following provisions of this section apply.
The Relevant Authority’s notice shall, in such a case, inform the landlord and the landlord’s secured creditors of the effect of those provisions.
(7) If any further step as mentioned in section 41 is taken within the period of three years after the end of the original period of the moratorium, the moratorium may be renewed with the consent of all the landlord’s secured creditors (which may be given before or after the step is taken).
Notice of any such renewal shall be given by the Welsh Ministers to the persons to whom notice of an extension is required to be given under subsection (3).
(8) If a moratorium ends without any proposals being agreed, then, for a period of three years the taking of any further step as mentioned in section 41 does not start a further moratorium except with the consent of the landlord’s secured creditors as mentioned in subsection (7) above.
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