1.38.—[F1(A1) This rule does not apply in relation to a moratorium under Part A1 of the Act.]
(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.
Textual Amendments
F1Rule 1.38(A1) inserted (1.10.2021) by The Insolvency (England and Wales) (No.2) (Amendment) Rules 2021 (S.I. 2021/1028), rules 1, 10 (with rules 4, 5)
Modifications etc. (not altering text)
C1Rules 1.18-1.58 applied (with modifications) (19.3.2024) by The Water Industry (Special Administration) (England and Wales) Rules 2024 (S.I. 2024/229), rules 1, 5, 12-33, Sch. (with rule 2(2))
