Section 315: Charge or security for new consideration

315. Charge or security for new consideration (1) A charge may not be set aside under section 314 where the charge secures money actually advanced or paid, or the actual price or value of property sold or supplied, or any other valuable consideration given in good faith, by the chargeholder to the debtor at the time when, or at any time after, the charge was given. (2) A charge or security may not be set aside under section 314 where the charge is a substitute for an existing charge that was given by the debtor more than 2 years before the date of adjudication or the commencement of the winding up, except to the extent that— (a) the amount secured by the substituted charge is greater than the amount that was secured by the existing charge; or (b) the value of the property subject to the substituted charge at the date of substitution was greater than the value of the property subject to the existing charge at that date.