| Commentary

161 Transactions at an undervalue

| Commentary

161 Transactions at an undervalue

The provisions on transactions at an undervalue apply where a company has entered administration or has gone into liquidation and at the ‘relevant time’ before the entry into administration or the commencement of the liquidation, the company made a gift or entered into a transaction on terms that the company received no consideration, or the consideration received by the company was significantly less in value than the consideration provided by the company1. The relevant time is any time during the period of two years ending with the onset of insolvency, provided that the

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