• (a)he or she has, within 2 years prior to the presentation of the bankruptcy petition, materially contributed to or increased the extent of his or her insolvency by gambling or by rash and hazardous speculations, and such gambling or speculations are unconnected with his or her trade or business; or
• (b)he or she has, between the date of the presentation of the petition and the date of the receiving order, lost any part of his or her estate by such gambling or rash and hazardous speculations as aforesaid; or
• (c)on being required by the official receiver at any time, or in the course of his or her public examination by the court, to account for the loss of any substantial part of his or her estate incurred within a period of a year next preceding the date of the presentation of the bankruptcy petition, or between that date and the date of the receiving order, he or she fails to give a satisfactory explanation of the manner in which such loss was incurred,

provided that, in determining for the purposes of this section whether any speculations were rash and hazardous, the financial position of the accused person at the time when he or she entered into the speculations shall be taken into consideration.