This section applies to an eligible company that is subject to an outstanding winding-up petition.
The directors of the company may apply to the court for a moratorium for the company.
The application must be accompanied by the relevant documents (for the relevant documents, see section A6).
On hearing the application the court may—
make an order that the company should be subject to a moratorium, or
make any other order which the court thinks appropriate.
The court may make an order under subsection (4)(a) only if it is satisfied that a moratorium for the company would achieve a better result for the company's creditors as a whole than would be likely if the company were wound up (without first being subject to a moratorium).