Transactions to defeat claims
63 Transactions to defeat claims
If a court is satisfied that an existing or anticipated order in a proceeding under this Part is likely to be defeated by the making of an instrument or disposition by a party to the proceeding, the court may set aside or restrain the making of the instrument or disposition.
The court may order that—
any property dealt with by an instrument or disposition referred to in subsection (1) be taken in execution, or used or applied in, or charged with payment of—
any sums payable under an order adjusting interests in the property of one or more of the parties to the proceeding; or
costs; or
the proceeds of a sale be paid into court to satisfy an order of the court.
The court may order a party or a person acting in collusion with a party to pay the costs of any other party, or of a purchaser in good faith or other person interested, of and incidental to the instrument or disposition and the setting aside or restraining of the instrument or disposition.
For the purposes of this section—
something is made by a person if the thing is made by or on behalf of, or by direction or in the interests of, the person; and
it does not matter that the document or disposition is intended to defeat the order concerned.
In this section—
disposition includes a sale and a gift.
This Act’s bill:Explanatory memorandumSecond reading speech
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