s 439 Provisions which may be made by order under section 438
439.—(1) Without limiting section 438(3) but subject to subsection (2), an order made under that section with respect to a transaction may —(a) require any property transferred as part of the transaction to be vested in any person, either absolutely or for the benefit of all the persons on whose behalf the application for the order is deemed to be made; (b) require any property to be so vested in any person, either absolutely or for the benefit of all the persons on whose behalf the application for the order is deemed to be made, if the property represents, in any person’s hands, the application either of the proceeds of sale of property transferred as part of the transaction or of money so transferred; (c) release or discharge (in whole or in part) any security given by the debtor; (d) require any person to pay to any other person in respect of benefits received from the debtor such sums as the Court may direct; (e) provide for any surety or guarantor whose obligations to any person were released or discharged (in whole or in part) under the transaction to be under such new or revived obligations as the Court thinks appropriate; and (f) provide for security to be provided for the discharge of any obligation imposed by or arising under the order, for such an obligation to be charged on any property and for such security or charge to have the same priority as a security or charge released or discharged (in whole or in part) under the transaction. (2) An order under section 438 may affect the property of, or impose any obligation, on any person whether or not that person is the person with whom the debtor entered into the transaction, but must not —(a) prejudice any interest in property which was acquired from a person other than the debtor and was acquired in good faith, for value and without notice of the relevant circumstances, or prejudice any interest deriving from such an interest; and (b) require a person who received a benefit from the transaction in good faith, for value and without notice of the relevant circumstances to pay any sum unless the person who received the benefit was a party to the transaction. (3) For the purposes of this section, the relevant circumstances in relation to a transaction are the circumstances by virtue of which an order under section 438 may be made in respect of the transaction. (4) In this section, “security” has the meaning given by section 61(1). (5) Any reference in this section to the person or property of a debtor or bankrupt is, in relation to a debtor which is a firm or to a firm against which a bankruptcy order has been made (as the case may be), to be read as a reference to the person or property of each partner of the firm.