Commonwealth Consolidated Acts

CORPORATIONS ACT 2001 - SECT 554J

    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.