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29. Calculation of voting rights: special cases

(1) In an administration, a creditor under a hire-purchase agreement is entitled to vote in respect of the amount of the debt due and payable by the Company on the date on which the Company entered administration.
(2) In calculating the amount of any debt for the purpose of sub-paragraph (1), no account is to be taken of any amount attributable to the exercise of any right under the relevant agreement so far as the right has become exercisable solely by virtue of —
(a) the making of an administration application;
(b) a notice of intention to appoint an administrator or any matter arising as a consequence of the notice; or
(c) the Company entering administration.
(3) A creditor shall not vote in respect of a debt on, or secured by, a current bill of exchange or promissory note, unless he is willing —
(a) to treat the liability to him on the bill or note of every person who is liable on it antecedently to the Company, as a security in his hands; and
(b) to estimate the value of the security and, for the purpose of his entitlement to vote (but not for dividend), to deduct it from his claim.