# The Energy Administration Rules 2005, Article 27: Holders of negotiable instruments

Extent: E+W

A creditor shall not vote in respect of a debt on, or secured by, a current bill of exchange or promissory note, unless he is willing—
(a) to treat the liability to him on the bill or note of every person who is liable on it antecedently to the protected energy company, and against whom a bankruptcy order has not been made (or, in the case of a company, which has not gone into liquidation), as a security in his hands, and
(b) to estimate the value of the security and, for the purpose of his entitlement to vote, to deduct it from his claim.

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Source: https://www.legislation.gov.uk/uksi/2005/2483/article/27 (the official version)
Page: https://openlegislation.uk/energy-administration-rules-2005/article-27
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.