475. Anti-avoidance provisions.

Where under arrangements made by any person otherwise than in the ordinary course of a business carried on by him:

  1.  

    (1)     a close company1 makes a loan or advance2 which does not otherwise give rise to a charge on the company; and

  2.  

    (2)     a person other than the close company makes a payment or transfers property to, or releases or satisfies, in whole or in part, a liability of, a relevant person