Section 340(3)

For the purposes of this and the next two sections, an individual gives a preference to a person if— that person is one of the individual’s creditors or a surety or guarantor for any of his debts or other liabilities, and the individual does anything or suffers anything to be done which (in either case) has the effect of putting that person into a position which, in the event of the individual’s bankruptcy, will be better than the position he would have been in if that thing had not been done.

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