348.
| (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 insolvency 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 preference of its creditors, and be invalid accordingly. |
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| (2) For the purposes of this section, the commencement of the winding up shall be deemed to correspond with the act of insolvency in the case of an individual. |
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| (3) Any conveyance or assignment by a company of all its property to trustees for the benefit of all its creditors shall be void to all intents. |
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Sri Lanka Consolidated Acts