556. Proof by secured creditors.

If a secured creditor1 realises the security, the creditor may prove for the balance of the creditor's debt, after deducting the amount realised2. He may appropriate the proceeds of realisation as he thinks fit between the claims which are provable and not provable, or between preferential and non-preferential claims in the bankruptcy3. The net profit of the realisation may not be applied to interest accrued after the date of the bankruptcy order4; but profits made from an unrealised security may be so applied