(1) In this section:
(2) Subsections (3) to (9), inclusive, have effect for the purposes of a recovery proceeding in relation to a company. (3) If:
(4) Subject to subsections (5) to (7), if it is proved that the company:
(b) has failed to retain financial records in relation to a period for the 7 years required by subsection 286(2);
(5) Paragraph (4)(a) does not apply in relation to a contravention of subsection 286(1) that is only minor or technical. (6) Subsection (4) does not have effect, in so far as it would prejudice a right or interest of a person for the company to be presumed insolvent because of a contravention of subsection 286(2), if it is proved that:
(7) If the recovery proceeding is an application under section 588FF, subsection (4) of this section does not have effect for the purposes of proving, for the purposes of the application, that an unfair preference given by the company to a creditor of the company is an insolvent transaction, unless it is proved, for the purposes of the application, that a related entity of the company was a party to the unfair preference. (8) If, for the purposes of another recovery proceeding in relation to the company, there has been proved:
(9) A presumption for which this section provides operates except so far as the contrary is proved for the purposes of the proceeding concerned.