Insolvency Act

200. Insolvent charges can be cancelled on bankruptcy trustee's initiative

Edition: 2022-12-31 · In force

A charge over any property of a bankrupt can be cancelled on the bankruptcy trustee's initiative if—

(a)the charge was created within the two years immediately before the bankruptcy commenced; and

(b)immediately after the charge was given, the bankrupt was unable to pay the bankrupt's due debts.