Article 26 - Effect of application: interim moratorium

(1) During the period beginning either with the making of an application for an Administration Order, or the giving of notice of intention to appoint an Administrator and ending with the making of such an Administration Order, or the dismissal of the application, or the appointment of an Administrator:
(A) no resolution may be passed or order made for the winding up of the Company;
(B) no landlord or other person to whom rent is payable may exercise any right of forfeiture by peaceable re-entry in relation to premises let to the Company in respect of a failure by the Company to comply with any term or condition of its tenancy of such premises, except with the leave of the QFC Court and subject to such terms as the QFC Court may impose;
(C) no steps may be taken to enforce any Security Interest over the Company's property, or to repossess goods in the Company's possession under any hire-purchase agreement, except with the leave of the QFC Court and subject to such terms as the QFC Court may impose; and
(D) no other proceedings and no execution or other legal process may be commenced or continued, and no distress may be levied, against the Company or its property except with the leave of the QFC Court and subject to such terms as the QFC Court may impose.
(2) References in this Article 26 and Article 27 to hire-purchase agreements include conditional sale agreements, leasing agreements relating to property other than real property and retention of title agreements.