39
CurrentLiability of shareholders of AGL, Newcastle Gas Co
Part 3Structure of the gas industry
Division 2Future operation of the industry
39 Liability of shareholders of AGL, Newcastle Gas Co
(1)
This section applies:
(a)
to The Australian Gas Light Company and the Newcastle Gas Company Limited, and
(b)
notwithstanding the provisions of any memorandum or articles of association.
(2)
The liability of a member or past member of a company to which this section applies to contribute to the property of the company on a winding up of the company does not exceed the amount (if any) unpaid on the shares in respect of which the member is liable as a present or past member.
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