Section 314: Voidable charge
consolidated text (as at 2017, amended since). juris shows the text as it was consolidated; it does not confirm that this is the law in force today.
314. Voidable charge
(1) A charge over any property or undertaking of a debtor may be set
aside by the Court on the application of the Official Receiver or a liquidator
where—
(a) the charge was given within 2 years immediately before the date
of the debtor’s adjudication or the commencement of the winding up; and
(b) immediately after the charge was given, the debtor was unable
to pay his or its due debts.
(2) A charge given by a debtor under an agreement to give the charge
that was made before the period of 2 years immediately before the date of
adjudication or the commencement of the winding up may not be set aside
under subsection (1).