21. Secured creditor: test of security's value

(1) If the Office-holder is dissatisfied with the value which a secured creditor puts on his security (whether in the proof or by way of alteration of value in accordance with paragraph 18 (Secured creditor: value of security) of Part 3 (Creditors' Claims) of this Schedule, the Office-holder may require any property comprised in the security to be offered for sale.
(2) The terms of sale will be as agreed, or as the Court may direct; and if the sale is by auction, the Office-holder on behalf of the Company and the creditor (on his own behalf) may appear and bid.
(3) This paragraph 21 does not apply if the value of the security has been altered with the Court's permission.