Meaning of “financial assistance” for purposes of this Part

(1) In this Division, “financial assistance” means—(a) financial assistance given in the form of a gift; (b) financial assistance given—
(i) in the form of a guarantee, security or indemnity other than an indemnity in respect of the indemnifier's own neglect or default; or
(ii) in the form of a release or waiver; (c) financial assistance given—
(i) in the form of a loan or any other agreement under which any of the obligations of the person giving the assistance are to be
fulfilled at a time when in accordance with the agreement any obligation of another party to the agreement remains unfulfilled; or
(ii) in the form of the novation of, or the assignment of rights arising under, a loan or such other agreement; or
(d) any other financial assistance given by a company if—
(i) the net assets of the company are reduced to a material extent by the giving of the assistance; or (ii) the company has no net assets.
(2) In this Part, “net assets” means the aggregate amount of the company’s assets of the company less the aggregate amount of its liabilities.
(3) In the case of a company that prepares an individual financial statement, the liabilities of the company include any provision that is made in that statement.