Malaysia legislation
Section 52
Section 52
Duty as to money received on seizure or subsequently thereto
(2)
Any covenant or contract made in consideration of marriage for the future settlement on or for the settlor’s wife or children of any money or property wherein he had not at the date of his marriage any estate or interest, whether vested or contingent, in possession or remainder, and not being money or property of or in right of his wife, shall, on his becoming bankrupt, before the property or money has been actually transferred or paid pursuant to the contract or covenant, be void against the Director General of Insolvency.
(3)
For the purposes of this section, “settlement” includes any conveyance or transfer of property, bill, bond, note, security for money or covenant for the payment of money and any gift of money.
(4)
For the purposes of this section a settlor who dies insolvent shall be deemed to have become bankrupt at the date of his death.
Avoidance of preferences in certain cases