(1) Where in proceedings for the recovery of any payment as having, by virtue of any provision of section 70 or 71, been received by any person in trust, it is shown that -
(a) the payment was made in pursuance of any arrangement entered into as part of the agreement for the transfer in question, or within one year before or 2 years after that agreement or the offer leading to it, and
(b) the ICAV or any person to whom the transfer was made was privy to that arrangement,
the payment shall be deemed, except in so far as the contrary is shown, to be one to which the provisions apply.
(2) If in connection with any such transfer as is mentioned in section 70 or 71 -
(a) the price to be paid to a director of the ICAV for any shares in the ICAV held by him or her is in excess of the price which could at the time have been obtained by other holders of the like shares, or
(b) any valuable consideration is given to any such director,
the excess or the money value of the consideration, as the ca
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