Bankruptcy and Insolvency General Rules

43 (1) Subject to subsection (2), if trustees have a responsibility to sell property in connection with a proposal or bankruptcy, they shall not sell the property, directly or indirectly,

• (a) to their employees, agents or mandataries, or persons not dealing at arms’ length with the trustees;

• (b) to other trustees or, knowingly, to employees of other trustees; or

• (c) to related persons of the trustees or, knowingly, to related persons of the persons referred to in paragraph (a) or (b).

(2) If trustees have a responsibility to act in accordance with subsection (1), they may sell property in connection with a proposal or bankruptcy to the persons set out in paragraph (1)(a), (b) or (c), if the property is offered for sale

• (a) at the same time as it is offered to the public;

• (b) at the same price as it is offered to the public; and

• (c) during the normal course of business of the bankrupt or debtor.