Small debts
7.34.—(1) A creditor is deemed to have submitted a claim for the purposes of adjudication of entitlement to and payment of a dividend but not otherwise where—
(a)the debt is a small debt;
(b)notice has been delivered to the creditor under rule 7.35; and
(c)the creditor has not advised the liquidator that the debt is incorrect or not owed in response to the notice.
(2) In this rule “small debt” means a debt (being the total amount owed to a creditor) which does not exceed £1,000 (which amount is prescribed for the purposes of paragraph 13A(1) of schedule 8 of the Act and paragraph 18A of schedule 9 of the Act(2)).
Paragraph 13A is prospectively inserted into schedule 8 by section 131 of the Small Business, Enterprise and Employment Act 2015 (c.26) (“the 2015 Act”).
Paragraph 18A is prospectively inserted into schedule 9 by section 132 of the 2015 Act.