# The Payment and Electronic Money Institution Insolvency (England and Wales) Rules 2021, Article 138: Surrender for non-disclosure

Extent: E+W

(1) If a secured creditor omits to disclose their security in their proof of debt, the creditor must surrender their security for the general benefit of creditors, unless the court, on application by that creditor, relieves them from the effect of this rule on the ground that the omission was inadvertent or the result of honest mistake.
(2) If the court grants that relief, it may require or allow the creditor’s proof of debt to be amended, on such terms as it thinks just.

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Source: https://www.legislation.gov.uk/uksi/2021/1178/article/138 (the official version)
Page: https://openlegislation.uk/payment-and-electronic-money-institution-insolvency-england-and-wales-rules-2021/article-138
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.