Section 346 — Property Law Act 2007: Dispositions to which this subpart applies

346 Dispositions to which this subpart applies (1) This subpart applies only to dispositions of property made after 31 December 2007— (a) by a debtor to whom subsection (2) applies; and (b) with intent to prejudice a creditor, or by way of gift, or without receiving reasonably equivalent value in exchange. (2) This subsection applies only to a debtor who— (a) was insolvent at the time, or became insolvent as a result, of making the disposition; or (b) was engaged, or was about to engage, in a business or transaction for which the remaining assets of the debtor were, given the nature of the business or transaction, unreasonably small; or (c) intended to incur, or believed, or reasonably should have believed, that the debtor would incur, debts beyond the debtor’s ability to pay. Compare: 1952 No 51 s 60