Singapore legislation
Regulation 55
of Insolvency, Restructuring and Dissolution (Bankruptcy) Regulations 2020
Regulation 55
Realisation of security
If a creditor, after having valued the creditor’s security, subsequently realises it, or if it is realised under section 349 of the Act, the net amount realised —
(a)
must be substituted for the amount of any valuation previously made by the creditor; and (b)must be treated in all respects as an amended valuation made by the creditor.