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BANKRUPTCY (IRELAND) AMENDMENT ACT 1872 - SECT 53

Transactions protected by 1857 c.60 to remain valid.

53. Every conveyance or transfer of property, or charge thereon made, every
payment made, every obligation incurred, and every judicial proceeding taken
or suffered by any person unable to pay his debts as they become due from his
own moneys in favour of any creditor, or any person in trust for any creditor,
[with a view of giving such creditor, or any surety or guarantor for the debt
due to such creditor, a preference over the other creditors] shall, if the
person making, taking, paying, or suffering the same... become bankrupt within
[six] months after the date of making, taking, paying, or suffering the same,
be deemed fraudulent and void as against the assignees or trustee of such
bankrupt appointed under the said Act or this Act; but this section shall not
affect the rights of a purchaser, payee, or incumbrancer in good faith and for
valuable consideration.

S.54 rep. by 1969 c.30 (NI) s.132 sch.6

© 1872 Crown Copyright

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