Fraudulent preference: preferential transfers before winding up are void and treated as creditor preferences. Section 531 declares transfers, deliveries, payments, executions or other acts relating to company property made within the prescribed pre winding up period to be fraudulent preferences and therefore invalid as preferences of the company's creditors; it substitutes a shorter period for transactions before the Act and treats presentation of a winding up petition and passing of a voluntary winding up resolution as the equivalent of an individual's act of insolvency.