COMPANIES ACT, 1929 
687 
(¢) of subsection (1) of this section formal proof thereof shall not 
be required except in so far as is otherwise provided by general rules. 
(6) In the event of a landlord or other person distraining or 
having distrained on any goods or effects of the company within 
three months next before the date of a winding-up order, the debts 
to which priority is given by this section shall be a first charge on 
the goods or effects so distrained on, or the proceeds of the sale 
thereof : 
Provided that, in respect of any money paid under any such 
charge, the landlord or other person shall have the same rights of 
priority as the person to whom the payment is made. 
(7) In this section the expression “the relevant date” means— 
(a) in the case of a company ordered to be wound up com- 
pulsorily which had not previously commenced to be 
wound up voluntarily, the date of the winding-up order; 
and 
in any other case, the date of the commencement of the 
winding up. 
(b) 
Effect of Winding Up on antecedent and other Transactions. 
265.—(1) Any conveyance, mortgage, delivery of goods, payment, 
execution, or other act relating to property which would, if made or 
done by or against an individual, be deemed in his bankruptcy a 
fraudulent preference, shall, if made or done by or against a company, 
be deemed, in the event of its being wound up, a fraudulent prefer- 
ence of its creditors, and be invalid accordingly. 
Fraudulent 
preference. 
(2) For the purposes of this section, the commencement of the 
winding up shall be deemed to correspond with the presentation of 
the bankruptcy petition in the case of an individual. 
(3) Any conveyance or assignment by a company of ail its 
property to trustees for the benefit of all its creditors shall be void to 
all intents. 
(4) In the application to Scotland of this section, the expression 
“fraudulent preference’ includes any alienation or preference 
which is voidable by statute or at common law on the ground 
insolvency or notour bankruptcy, and the expression ‘bankrm 
petition’ means petition for sequestration. 
266. Where a company is being wound up, a floating charge on Egfiect of foating 
the undertaking or property of the company created within six charge. 
months of the commencement of the winding up shall, unless it is 
proved that the company immediately after the creation of the 
charge was solvent, be invalid, except to the amount of any cash 
paid to the company at the time of or subsequently to the creation 
of, and in consideration for, the charge, together with interest on 
that amount at the rate of five per cent. per annum.