344 Avoidance of general assignment of book debts
344 Avoidance of general assignment of book debts

(1)     The following applies where a person engaged in any business makes a general assignment to another person of his existing or future book debts, or any class of them, and is subsequently [made] bankrupt.

(2)     The assignment is void against the trustee of the bankrupt's estate as regards book debts which were not paid before the [making of the bankruptcy application or (as the case may be) the] presentation of the bankruptcy petition, unless the assignment has been registered under the Bills of Sale Act 1878.

(3)     For the purposes of subsections (1) and (2)—

(a)     “assignment” includes an assignment by way of security or charge on book debts, and

(b)     “general assignment” does not include—

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