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The Insolvency (England and Wales) Rules 2016
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Changes over time for: Section 1
Version Superseded: 01/10/2021
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- 06/04/2017- Amendment
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- 19/03/2024- Amendment
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Creditor's election to opt outE+W
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1.38.—(1) A creditor may at any time elect to be an opted-out creditor.
(2) The creditor's election to opt out must be by a notice in writing authenticated and dated by the creditor.
(3) The creditor must deliver the notice to the office-holder.
(4) A creditor becomes an opted-out creditor when the notice is delivered to the office-holder.
(5) An opted-out creditor—
(a)will remain an opted-out creditor for the duration of the proceedings unless the opt out is revoked; and
(b)is deemed to be an opted-out creditor in respect of any consecutive insolvency proceedings under Parts 1 to 11 of the Act of a different kind relating to the same company or individual.
(6) The creditor may at any time revoke the election to opt out by a further notice in writing, authenticated and dated by the creditor and delivered to the office-holder.
(7) The creditor ceases to be an opted-out creditor from the date the notice is received by the office-holder.
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