129.— (1) A person to whom this section applies is guilty of an offence where he or she commits an act referred to in subsection (2) for the purpose of—

(a) obtaining an insolvency arrangement,

(b) avoiding an obligation under section 36,

(c) obtaining a protective certificate under Chapter 3 or 4 of Part 3,

(d) avoiding an obligation under a Debt Settlement Arrangement or Personal Insolvency Arrangement,

(e) avoiding the variation or termination of an insolvency arrangement, or

(f) avoiding any other obligation under this Act.

(2) Subject to subsection (3), a person commits an act referred to in this subsection where he or she—

(a) makes or causes to be made a gift of any of his or her property to another person,

(b) otherwise makes or causes to be made any transfer of any of his or her property, on terms that provide for him or her to receive no consideration, to another person, or

(c) enters into a transaction with another person involving the transfer of any of his or her property to that other person or to a third person (whether or not the third person is a party to the transaction), where the value of the property concerned, in money or money’s worth, is significantly greater than the value, in money or money’s worth, of the consideration provided by the other person.

(3) Subsection (2) does not apply to property of a value of less than €400.

(4) This section applies to a person—

(a) on whose behalf an application under section 29, 59 or 93 is made,

(b) who is a specified debtor under Chapter 1,

(c) who is party, as a debtor, to a Debt Settlement Arrangement which is in effect, or

(d) who is party, as a debtor, to a Personal Insolvency Arrangement which is in effect.