Section 131Part 2 — The Financial Reporting Authority
Obtaining and disposing of property
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References in this Act to a person disposing of that person’s property include a reference to tha t person’s disposing of a part of it or to that person’s granting an interest in it, or to both; and references to the property disposed of are to any property obtained on the disposal.
A person who makes a payment to another shall be considered as mak ing a disposal of that person’s property to the other, whatever form the payment takes.
Where a person ’ s property passes to another under a will or intestacy or by operation of law, it shall be treated as disposed of by that person to the other.
A person shall only be considered as having obtained that person’s property for value in a case where that person gave unexecuted consideration if the consideration has become executed consideration.