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 519
519
EXCEPTIONS FOR FORMER UNLIMITED COMPANY
Despite sections 516, 517 and 518, if the company is a limited company and became a limited company by virtue of a change of status, the amount that a member at the time of the change of status, or a person who at that time was a past member, is liable to contribute in respect of the company's debts and liabilities contracted before that time is unlimited.
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 noteDespite sections 516, 517 and 518, if the company is a limited company and became a limited company by virtue of a change of status, the amount that a member at the time of the change of status, or a person who at that time was a past member, is liable to contribute in respect of the company's debts and liabilities contracted before that time is unlimited.
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