Article 142 - Transactions at an undervalue
(1) Where the
Company has at a relevant time (defined in Article 144) entered into a transaction with any person at an undervalue, the QFC Court may, on application of the officeholder, make an order restoring the position to what it would have been if the Company had not entered into that transaction.
Company enters into a transaction with a person at an undervalue if it makes a gift to that person or otherwise enters into a transaction with that person on terms that provide for the Company to receive no consideration, or consideration the value of which, in money or money's worth, is significantly less than the value, in money or money's worth, of the consideration provided by the Company.
QFC Court shall not make an order under this Article 142 in respect of a transaction at an undervalue if it is satisfied:
(A) that the
Company which entered into the transaction did so in good faith and for the purpose of carrying on its business; and
(B) that at the time it did so there were reasonable grounds for believing that the transaction would benefit the