# The Friendly Societies (Insurance Business) Regulations 1993, Paragraph 17


In this Schedule, a debt is fully secured on land if the amount that would be realised on the sale of that land at a price equal to the most recent proper valuation of that land would (after deducting the reasonable expenses of sale) be sufficient to enable that debt (and any other obligation secured on that land which has priority to or ranks equally with that debt) to be discharged in full.

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Source: https://www.legislation.gov.uk/uksi/1993/98/schedule/5/paragraph/17 (the official version)
Page: https://openlegislation.uk/friendly-societies-insurance-business-regulations-1993/schedule-5/paragraph-17
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.