Fraudulent alienations or encumbrances void.

Finance198030 sections6 chapters

Chapter V Chapter V

Statutory text

(1) If, in the course of the hearing of an application made under section 10, the Board finds that the debtor has made an alienation of property or created an encumbrance thereon with intent to defeat or delay the payment to any of his creditors, the Board shall, by notice, summon the debtor and the person in whose favour the alienation or encumbrance is made or created, to appear before it on a day to be specified in the notice.
(2) On the day specified in the notice or on such other day to which the hearing may be adjourned, the Board shall hear the parties and record evidence as may be produced and, if it is satisfied that the alienation was made or the encumbrance was created with intent to defeat or delay the payment to any of the creditors of the debtor, the Board shall declare the alienation or encumbrance to be void.

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