Bankruptcy Act · 2021 Revised Edition · Part 3
49. Avoidance of preference in certain cases
Official textFrom Attorney General's Chambers, unchanged
Every -
conveyance or transfer of property, or charge thereon made;
payment made, every obligation incurred; and
judicial proceeding taken or suffered by any person unable to pay his debts as they become due from his own money in favour of any creditor or of any person in trust for any creditor with a view to giving such creditor or any surety or guarantor for the debt due to such creditor, a preference over the other creditors, if the person making, taking, paying or suffering the same is adjudged bankrupt on a bankruptcy petition presented within 3 months after the date of making, taking, paying or suffering the same, is deemed fraudulent and void as against the trustee in the baihptcy.
This section does not affect the rights of any person making title in good faith and for valuable consideration through or under a creditor of the bankrupt.
Terms defined in s 2
property
Defined · s 2"property" includes money, goods, things in action, land and every description of property, whether real or personal and whether situate in Brunei Darussalam or elsewhere, also obligations, easements and every description of estate, interest and profit, present or future, vested or contingent, arising out of or incident to property as above defined;
Chapter
Chapter 19), unless he informs the trustee in writing to the contrary, is deemed to be his last known address for the purpose of subsection (3).
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