35(1)Section 361 (acquisition of creditor rights by connected company at undervalue) is amended as follows.U.K.
(2)In subsection (1), for paragraph (f) substitute—
“(f)the equity-for-debt exception (see section 361C) does not apply.”
(3)Omit subsection (2).
(4)After subsection (6) insert—
“(7)Subsections (3) and (4) are subject to section 361D (corporate rescue: debt released shortly after acquisition).”