{
  "url": "https://openlegislation.uk/insolvency-england-and-wales-rules-2016/rule-14.15",
  "json_url": "https://openlegislation.uk/insolvency-england-and-wales-rules-2016/rule-14.15.json",
  "legislation": "uksi/2016/1024",
  "legislation_title": "The Insolvency (England and Wales) Rules 2016",
  "legislation_url": "https://openlegislation.uk/insolvency-england-and-wales-rules-2016",
  "path": "rule/14.15",
  "kind": "rule",
  "number": "14.15",
  "heading": "Secured creditor: value of security",
  "text": "(1) A secured creditor may, with the agreement of the office-holder or the permission of the court, at any time alter the value which that creditor has put upon a security in a proof.\n(2) Paragraph (3) applies where a secured creditor—\n(a) being the applicant for the administration order or the appointer of the administrator, has in the application or the notice of appointment put a value on the security;\n(b) being the petitioner in winding-up or bankruptcy proceedings, has put a value on the security in the petition; or\n(c) has voted in respect of the unsecured balance of the debt.\n(3) Where this paragraph applies—\n(a) the secured creditor may re-value the security only with the agreement of the office-holder or the permission of the court; and\n(b) where the revaluation was by agreement, the office-holder must deliver a notice of the revaluation to the creditors within five business days after the office-holder's agreement.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "C",
      "label": "C1",
      "text": "Rules 14.1-14.24 applied (with modifications) (19.3.2024) by The Water Industry (Special Administration) (England and Wales) Rules 2024 (S.I. 2024/229), rules 1, 5, 86-103, Sch. (with rule 2(2))"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2016/1024/rule/14.15",
    "retrieved_at": "2026-10-28T23:19:01.539785+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."
}