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CORPORATIONS ACT 2001

CHAPTER 5 - EXTERNAL ADMINISTRATION  

PART 5.6 - WINDING UP GENERALLY  

Division 2 - Contributories  

SECTION 515  

515  GENERAL LIABILITY OF CONTRIBUTORY  

Subject to this Division, a present or past member is liable to contribute to the company's property to an amount sufficient:


(a) to pay the company's debts and liabilities and the costs, charges and expenses of the winding up; and


(b) to adjust the rights of the contributories among themselves.

 



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