{
  "url": "https://openlegislation.uk/small-business-enterprise-and-employment-act-2015/section-124",
  "json_url": "https://openlegislation.uk/small-business-enterprise-and-employment-act-2015/section-124.json",
  "legislation": "ukpga/2015/26",
  "legislation_title": "Small Business, Enterprise and Employment Act 2015",
  "legislation_url": "https://openlegislation.uk/small-business-enterprise-and-employment-act-2015",
  "path": "section/124",
  "kind": "section",
  "number": "124",
  "heading": "Ability for creditors to opt not to receive certain notices: company insolvency",
  "text": "(1) The Insolvency Act 1986 is amended as follows.\n(2) For the italic heading before section 246B substitute— “ Giving of notices etc by office-holders ”.\n(3) After section 246B insert—\n“Creditors' ability to opt out of receiving certain notices\n246C (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.\n(2) Subsection (1)—\n(a) does not apply in relation to a notice of a distribution or proposed distribution to creditors;\n(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).\n(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.\n(4) In this section—\n“give” includes deliver, furnish or send;\n“notice” includes any document or information in any other form;\n“office-holder”, in relation to a company, means—\n(a)a liquidator, provisional liquidator, administrator or administrative receiver of the company,\n(b)a receiver appointed under section 51 in relation to any property of the company, or\n(c)the supervisor of a voluntary arrangement which has taken effect under Part 1 in relation to the company.”\n(4) After section 248 insert—\n““Opted-out creditor”\n248A (1) For the purposes of this Group of Parts “opted-out creditor”, in relation to an office-holder of a company, means a person who—\n(a) is a creditor of the company, and\n(b) in accordance with the rules has elected (or is deemed to have elected) to be (and not to cease to be) an opted-out creditor in relation to the office-holder.\n(2) In this section, “office-holder”, in relation to a company, means—\n(a) a liquidator, provisional liquidator, administrator or administrative receiver of the company,\n(b) a receiver appointed under section 51 in relation to any property of the company, or\n(c) the supervisor of a voluntary arrangement which has taken effect under Part 1 in relation to the company.”\n(5) In Schedule 8 (provisions which may be included in company insolvency rules), after paragraph 5 insert—\n“\n5A Provision for enabling a creditor of a company to elect to be, or to cease to be, an opted-out creditor in relation to an office-holder of the company (within the meaning of section 248A), including, in particular, provision—\n(a) for requiring an office-holder to provide information to creditors about how they may elect to be, or cease to be, opted-out creditors;\n(b) for deeming an election to be, or cease to be, an opted-out creditor in relation to a particular office-holder of a company to be such an election also in relation to any other office-holder of the company.”",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "I",
      "label": "I1",
      "text": "S. 124 in force at 26.5.2015 for specified purposes by S.I. 2015/1329, reg. 3(d)"
    },
    {
      "type": "I",
      "label": "I2",
      "text": "S. 124 in force at 6.4.2017 for E.W. in so far as not already in force by S.I. 2016/1020, reg. 4(c)"
    },
    {
      "type": "I",
      "label": "I3",
      "text": "S. 124 in force at 6.4.2019 for S. in so far as not already in force by S.I. 2019/816, reg. 4(b)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2015/26/section/124",
    "retrieved_at": "2026-10-29T09:06:47.994452+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}