Limitation on secured debt: debt recognised for net-wealth purposes capped at value of excluded asset portion. Amendment renumbers the existing Explanation as Explanation 1 and inserts Explanation 2, which limits the amount of a debt secured on or incurred in relation to an asset excluded from net wealth to the value of the portion of that asset not includible in net wealth, for purposes of the relevant sub-clause governing debts.
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Provisions expressly mentioned in the judgment/order text.
Limitation on secured debt: debt recognised for net-wealth purposes capped at value of excluded asset portion.
Amendment renumbers the existing Explanation as Explanation 1 and inserts Explanation 2, which limits the amount of a debt secured on or incurred in relation to an asset excluded from net wealth to the value of the portion of that asset not includible in net wealth, for purposes of the relevant sub-clause governing debts.
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