Corporations Act 2001
CHAPTER 5
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EXTERNAL ADMINISTRATION
PART 5.6
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WINDING UP GENERALLY
Division 2
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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.
Note: This Part applies to a sub-fund of a CCIV in a modified form: see Division 5 of Part 8B.6 .
View history note
Hide history noteSubject 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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