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WINDING-UP RULES 
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Rules or any directions given thereunder are not required to prove 
“heir debts or to any voluntary liquidation meeting. 
” 
138. A creditor shall not vote in respect of any unliquidated or Cases in 
contingent debt, or any debt the value of which is not ascertained, ih cediion 
nor shall a creditor vote in respect of any debt on or secured by a 
current bill of exchange or promissory note held by him unless he is 
willing to treat the liability to him thereon of every person who is 
liable thereon antecedently to the Company, and against whom a 
Receiving Order in Bankruptcy has not been made, as a security 
in his hands, and to estimate the value thereof, and for the purposes 
of voting, but not for the purposes of dividend, to deduct it from his 
proof. 
139. For the purpose of voting, a secured creditor shall, unless votes of secured 
he surrenders his security, state in his proof or in a voluntary creditors 
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. 
140. The Official Receiver or Liquidator may within twenty- Creditor required 
eight days after a proof or in a voluntary liquidation a statement o8¢, "P 
estimating the value of a security as aforesaid has been used in votin g 
at a meeting require the creditor to give up the security for the 
benefit of the creditors generally on payment of the value so estimated 
with an addition thereto of twenty per cent. Provided that where 
a creditor has valued his security he may at any time before being 
required to give it up correct the valuation by a new proof and 
leduct the new value from his debt, but in that case the said addition 
of twenty per cent. shall not be made if the security is required to be 
oiven up. 
141. The Chairman shall have power to admit or reject a proof 
for the purpose of voting, but his decision shall be subject to appeal 
to the Court. If he is in doubt whether a proof shall be admitted or 
rejected he shall mark it as objected to and allow the creditor 
to vote subject to the vote being declared invalid in the event of the 
objection being sustained. 
Admission and 
rejection of 
roofs for 
purpose of 
voting. 
142. For the purpose of voting at any voluntary liquidation meet- 
ings a secured creditor shall unless he surrender his security lodge 
with the Liquidator or where there is no Liquidator at the Registered 
Office of the Company before the meeting a statement giving the 
particulars of his security, the date when it was given and the value 
at which he assesses it. 
Statement of 
Security. 
143.—(1) The Chairman shall cause minutes of the proceedings at Minutes of 
‘he meeting to be drawn up and fairly entered in a book kept for Meeting. 
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