(1) The presumption of advancement (by which, for example, a husband is presumed to be making a gift to his wife if he transfers property to her, or purchases property in her name) is abolished.
(2) The abolition by subsection (1) of the presumption of advancement does not have effect in relation to—
(a) anything done before the commencement of this section, or
(b) anything done pursuant to any obligation incurred before the commencement of this section.
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