This practice note will provide you with an understanding of how the prescribed part under section 176A of the Insolvency Act 1986 operates, and who is obliged to set this aside. In particular, the note will enable you to calculate the net property of a company from which the prescribed part must be determined. It also explains how, and the circumstances in which, to make an application to court to disapply the prescribed part, and sets out strategic options for secured creditors to consider in relation to the prescribed part.