Subsequent realisation of security interest
Where: (a) a secured creditor’s proof of debt is in respect of the balance due after deducting the creditor’s estimate of the value of the security interest; and (b) subsequently: (i) the creditor realises the security interest; or (ii) the security interest is realised under section 554F; the net amount realised is to be substituted for the estimated value of the security interest and section 554H applies as if the proof of debt had been amended accordingly under section 554G.
Sourced from the Federal Register of Legislation at 17 May 2026. For the latest information on Australian Government law please go to https://www.legislation.gov.au. Verify the current text against the official source before relying on it.
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