Section 71Part 2 — The Financial Reporting Authority
Gifts and their rec ipients
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Where the defendant transfers property to another person for a consideration whose value is significantly less than the value of the property at the time of the transfer, the defendant shall be treated as making a gift.
Where subsection (1) applies the property given is to be treated as such share in the property transferred as is represented by the fraction —
whose numerator is the difference between the two values mentioned in subsection (1); and
whose denominator is the value of the property at the time of the transfer.
References to a recipient of a tainted gift are to a person to whom the defendant has made the gift.