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BANKRUPTCY (IRELAND) AMENDMENT ACT 1872 - SECT 63

Certificate in arrangement cases to operate as a certificate of conformity.

63. A secured creditor shall for the purpose of voting at any meeting of
creditors in any arrangement or in any composition after bankruptcy under
the said Act or this Act, be deemed to be a creditor only in respect of the
balance (if any) due to him, after deducting the value of his security; and
the amount of such balance shall, until the security be realised, be
determined in the prescribed manner. He may, however, at or previously to any
such meeting, [surrender] the security, and thereupon he shall rank as a
creditor in respect of the whole sum due to him. [If he votes in respect of
his whole debt he shall be deemed to have surrendered his security unless
the Court on application is satisfied that the omission to value the security
has arisen from inadvertence.]

© 1872 Crown Copyright

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