Part VI Miscellaneous Provisions Applying to Companies Which are Insolvent or in Liquidation

Giving of notices etc by office-holders

F1246CCreditors' ability to opt out of receiving certain notices

(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.