[A26 Restrictions on grant of security etc]

[A26  Restrictions on grant of security etc]

[(1)     During a moratorium, the company may grant security over its property only if the monitor consents.

(2)     The monitor may give consent under subsection (1) only if the monitor thinks that the grant of security will support the rescue of the company as a going concern.

(3)     In deciding whether to give consent under subsection (1), the monitor is entitled to rely on information provided by the company unless the monitor has reason to doubt its accuracy.

(4)     If the company grants security over its property during the moratorium otherwise than as authorised by

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