515
In forceGeneral liability of contributory
Volume 2Chapter 2L, Part 2L.1 to Chapter 5, Part 5.9 sections 283AA to 600K
Chapter 5External administration
Part 5.6Winding up generally
Division 2Contributories
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.
This Act’s bill:Explanatory memorandumSecond reading speech
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