{
  "url": "https://openlegislation.uk/carbon-dioxide-transport-and-storage-licensed-operators-administration-england-and-wales-rules-2025/rule-64",
  "json_url": "https://openlegislation.uk/carbon-dioxide-transport-and-storage-licensed-operators-administration-england-and-wales-rules-2025/rule-64.json",
  "legislation": "uksi/2025/1135",
  "legislation_title": "The Carbon Dioxide Transport and Storage (Licensed Operators) Administration (England and Wales) Rules 2025",
  "legislation_url": "https://openlegislation.uk/carbon-dioxide-transport-and-storage-licensed-operators-administration-england-and-wales-rules-2025",
  "path": "rule/64",
  "kind": "rule",
  "number": "64",
  "heading": "Test of security’s value",
  "text": "(1) Paragraph (2) applies if the T&S administrator is dissatisfied with the value which a secured creditor puts on the creditor’s security, whether in the creditor’s proof or by way of revaluation under rule 61.\n(2) The T&S administrator may require any property comprised in the security to be offered for sale.\n(3) The terms of the sale must be such as may be agreed between the T&S administrator and the secured creditor, or as the court may direct.\n(4) If the sale is by auction, the T&S administrator on behalf of the T&S company, and the creditor on the creditor’s own behalf, may appear and bid.\n(5) This rule does not apply if the value of the security has been altered with the court’s permission.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2025/1135/rule/64",
    "retrieved_at": "2026-10-28T21:10:19.201595+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."
}