# The Education Administration Rules 2018, Article 5.15: Secured creditor: value of security


(1) A secured creditor may, with the agreement of the education administrator or the permission of the court, at any time alter the value which that creditor has put upon a security in a proof.
(2) Where a secured creditor has voted in respect of the unsecured balance of the debt—
(a) the secured creditor may re-value the security only with the agreement of the education administrator or the permission of the court; and
(b) where the revaluation was by agreement, the education administrator must deliver a notice of the revaluation to the creditors within five business days after the education administrator’s agreement.

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Source: https://www.legislation.gov.uk/uksi/2018/1135/article/5.15 (the official version)
Page: https://openlegislation.uk/education-administration-rules-2018/article-5.15
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.