Section 14 Asserting defence or right of compensationI1I2C1

Except in so far as the debtor and the assignor agree otherwise before F1the relevant time, the debtor, or any co-debtor, may assert against the assignee any defence which the debtor, or co-debtor, would have had the right to assert against the assignor.

For the purposes of subsection (1), the “relevant time” is—

Nothing in subsection (1) affects the operation of any other enactment which restricts or prevents the making of such an agreement.

For the purposes of any enactment or rule of law concerning compensation, set-off, retention, balancing of accounts or counterclaims, a debtor is not to be treated as receiving notice of the assignation of a claim F3by reason only of (any or all of)—