240 “Relevant time” under ss 238, 239
240 “Relevant time” under ss 238, 239

(1)     Subject to the next subsection, the time at which a company enters into a transaction at an undervalue or gives a preference is a relevant time if the transaction is entered into, or the preference given—

(a)     in the case of a transaction at an undervalue or of a preference which is given to a person who is connected with the company (otherwise than by reason only of being its employee), at a time in the period of 2 years ending with the onset of insolvency (which expression is defined below),

(b)     in the case of a preference which is not such a transaction and is not so given, at a time in the period of 6 months ending with the onset of insolvency, . . .

[(c)     in either case, at a time between the making of an administration application in respect of the company and the making of an administration order on that application, and