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Insolvency Act 1986

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Changes over time for: Section 246C

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Version Superseded: 15/03/2024

Status:

Point in time view as at 08/07/2021. This version of this provision has been superseded. Help about Status

Changes to legislation:

Insolvency Act 1986, Section 246C is up to date with all changes known to be in force on or before 09 March 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations. Help about Changes to Legislation

[F1246CCreditors' ability to opt out of receiving certain noticesE+W+S

(1)Any provision of the rules which requires an office-holder of a company to give a notice to creditors of the company does not apply, in circumstances prescribed by the rules, in relation to opted-out creditors.

(2)Subsection (1)—

(a)does not apply in relation to a notice of a distribution or proposed distribution to creditors;

(b)is subject to any order of the court requiring a notice to be given to all creditors (or all creditors of a particular category).

(3)Except as provided by the rules, a creditor may participate and vote in a qualifying decision procedure or a deemed consent procedure even though, by virtue of being an opted-out creditor, the creditor does not receive notice of it.

(4)In this section—

  • give” includes deliver, furnish or send;

  • notice” includes any document or information in any other form;

  • office-holder”, in relation to a company, means—

    (a)

    a liquidator, provisional liquidator, administrator or administrative receiver of the company,

    (b)

    a receiver appointed under section 51 in relation to any property of the company, or

    (c)

    the supervisor of a voluntary arrangement which has taken effect under Part 1 in relation to the company.]

Textual Amendments

F1S. 246C inserted (26.5.2015 for specified purposes, 6.4.2017 for E.W. in so far as not already in force, 6.4.2019 for S. in so far as not already in force) by Small Business, Enterprise and Employment Act 2015 (c. 26), ss. 124(3), 164(1); S.I. 2015/1329, reg. 3(d); S.I. 2016/1020, reg. 4(c); S.I. 2019/816, reg. 4(b)

Modifications etc. (not altering text)

C1Pt. 6 applied (with modifications) (E.W.S.) (8.7.2021) by The Payment and Electronic Money Institution Insolvency Regulations 2021 (S.I. 2021/716), reg. 2, Sch. 1 para. 3 (with reg. 5) (as amended (4.1.2024) by S.I. 2023/1399, regs. 1(2), 4)

C2S. 246C applied (with modifications) (31.1.2019) by Technical and Further Education Act 2017 (c. 19), s. 47(2), Sch. 3; S.I. 2018/1161, reg. 3(c)

C3S. 246C applied (with modifications) (31.1.2019) by Technical and Further Education Act 2017 (c. 19), s. 47(2), Sch. 4; S.I. 2018/1161, reg. 3(d)

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