# The Insolvency (Scotland) (Receivership and Winding up) Rules 2018, Article 1.34: Creditor's election to opt out


(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 insolvency 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 3 to 5 of the Act of a different kind relating to the same company.
(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 delivered to the office-holder.

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Source: https://www.legislation.gov.uk/ssi/2018/347/part/1/chapter/9/article/1n35 (the official version)
Page: https://openlegislation.uk/insolvency-scotland-receivership-and-winding-up-rules-2018/part-1/chapter-9/article-1n35
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.