Section 73: Avoidance of Pre-liquidation Transfers.

(1) The liquidator of a bank, specialised banks and other financial institutions may set aside the following transactions affecting the assets of the banks, specialised banks and other financial institutions and recover the assets from the transferee or other beneficiary of the transaction:
(a) gratuitous transfers to, or to persons related to, affiliates, insiders or key management personnel of the bank, specialised banks and other financial institutions made within five years prior to the effective date of the liquidation;
(b) transactions with affiliates, insiders or key management personnel of the banks, specialised banks and other financial institutions conducted within five years prior to the effective date of the liquidation, if detrimental to the interest of depositors and other creditors;
(c) gratuitous transfers to third parties made within three years prior to the effective date of the liquidation;
(d) transactions in which the consideration given by the bank considerably exceeded the received consideration, made within three years prior to the effective date of the liquidation;
(e) a transaction based on a forged or fraudulent document that the bank, specialised banks and other financial institutions has executed to the detriment of creditors;
(f) any act done with the intention of all parties involved to withhold assets from the creditors of the bank, specialised banks and other financial institutions or otherwise impair their rights, within five years prior to the effective date of the liquidation;
(g) transfers of property of the banks, specialised banks and other financial institutions to, or for the benefit of, a creditor on account of a debt incurred within one year prior to the effective date of the liquidation which has the effect of increasing the amount that the creditor would receive in a liquidation of the banks, specialised banks and other financial institutions:
Provided that payment of deposits otherwise than by the transfer of property of the bank (other than money), specialised bank or other financial institution shall not be subject to this provision; and
(h) any attachment or security interest, except one existing six months prior to the effective date of the liquidation.
(2) Any action to set aside a transfer pursuant to subsection (1) shall be taken by the liquidator within one year following the effective date of the liquidation.
(3) Notwithstanding the provisions of this section, the liquidator may not set aside a payment or transfer by a bank, specialised bank or other financial institution-
(a) if it was made in the ordinary course of business;
(b) if it was part of a contemporaneous exchange for reasonably equivalent value; or
(c) to the extent that following the transfer the recipient extended new unsecured credit to the bank, specialised bank or other financial institution which had not been satisfied by the bank, specialised bank or other financial institution as of the effective date of the liquidation.
(4) The liquidator may recover property or the value of property transferred by the bank, specialised bank or other financial institution from a transferee of an initial transferee only if the second transferee did not give fair value for the property and knew or reasonably should have known that the initial transfer could be set aside under this Act.
(5) The liquidator may order that notice of an action to set aside a transfer be recorded in the public records for real estate ownership and any other rights in property and a person taking title to or acquiring any security interest or other interest in such property after the filing of such a notice takes his title or interest subject to the rights of the bank, specialised bank or other financial institution to recover the property.