Section 242(3)

For the purposes of subsection (2)(b), the day on which an alienation takes place is the day on which it becomes completely effectual; and in that subsection “relevant day” means, if the alienation has the effect of favouring— a person who is an associate (within the meaning of the Bankruptcy (Scotland) Act 2016) of the company, a day not earlier than 5 years before the date on which— the winding up of the company commences, or as the case may be, the company enters administration; or any other person, a day not earlier than 2 years before that date.

← 2 · All articles · 4 →

Source: legislation.gov.uk · retrieved 2026-09-04