Section 35

(1) For the purpose of this Act, there is a disposal of assets by a
assets person where any sum is derived from a sale, lease, transfer, an assignment, a
compulsory acquisition or any other disposition of assets, subject to any
exemptions as may be provided in Chapter Eight of this Act.
(2) Subsection (1) shall apply, notwithstanding that no asset is acquired
by the person paying the sum, and in particular where the sum is –
(a) derived by way of compensation for any loss of office or employ-
ment;
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(b) received under a policy of insurance and the risk of any kind of injury
or damage, or the loss or depreciation of assets;
(c) received in return for forfeiture or surrender of a right, or for refraining
from exercising a right; and
(d) received as consideration for use or exploitation of any asset.
(3) In this Part –
(a) references to a disposal of assets include, references to a part disposal
of assets; and
(b) there is a part disposal of assets where –
(i) an interest or right in or over the assets is created for another
person by the disposal, and
(ii) a part of the interest in the property which subsists before the
disposal remains with the person making the disposal.