Full legislation
s.126
Votes of secured creditors
For the purpose of voting, a secured creditor shall, unless he surrenders his
security, state in his proof or in a voluntary liquidation in such a statement as is
hereinafter mentioned the particulars of his security, the date when it was given, and
the value at which he assesses it, and shall be entitled to vote only in respect of the
balance (if any) due to him after deducting the value of his security. 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.