juris

Section 19:

Insolvency Act · SECOND SCHEDULE

consolidated text (as at 2017, amended since). juris shows the text as it was consolidated; it does not confirm that this is the law in force today.

19. (1) This paragraph applies to a secured creditor who has surrendered a security under paragraph 9 (1) (c) or 9 (2). (2) The creditor may, with the leave of the Court or the Official Receiver or liquidator and subject to the terms and conditions that the Court or the Official Receiver or liquidator imposes— (a) withdraw the surrender and rely on the security; or (b) submit a new proof under paragraph 9 (1) (a) or subparagraph 9 (2). (3) Subparagraph (2) does not apply if the Official Receiver or liquidator has already realised the property subject to the security.

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