(1) Subject to subsection (2) below, subsection (4) below applies to a transaction entered into by a company, whether before or after 1st April 1986, which has the effect of creating a preference in favour of a creditor to the prejudice of the general body of creditors, being a preference created not earlier than 6 months before the commencement of the winding up of the company or [the company enters administration].
(2) Subsection (4) below does not apply to any of the following transactions—
(a) a transaction in the ordinary course of trade or business;
(b) a payment in cash for a debt which when
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