# The Postal Administration Rules 2013, Rule 53: Secured creditors

Extent: E+W

(1) If a secured creditor realises their security, they may prove for the balance of their debt, after deducting the amount realised.
(2) If a secured creditor voluntarily surrenders their security for the general benefit of creditors, they may prove for their whole debt, as if it were unsecured.

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Source: https://www.legislation.gov.uk/uksi/2013/3208/rule/53 (the official version)
Page: https://openlegislation.uk/postal-administration-rules-2013/rule-53
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.