During a moratorium, the company may not obtain credit to the extent of £500 or more from a person unless the person has been informed that a moratorium is in force in relation to the company.
The reference to the company obtaining credit includes—
the company entering into a conditional sale agreement in accordance with which goods are to be sold to the company,
the company entering into any other form of hire-purchase agreement under which goods are to be bailed (in Scotland, hired) to the company, and
the company being paid in advance (whether in money or otherwise) for the supply of goods or services.
If a company contravenes subsection (1)—
the company commits an offence, and
any officer of the company who without reasonable excuse authorised or permitted the obtaining of the credit commits an offence.