THE CORPORATIONS LAW
PART 13 - THE CORPORATIONS LAW
THE CORPORATIONS LAW 82 The Corporations Law is as follows:...
CHAPTER 5B - BODIES CORPORATE REGISTERED AS COMPANIES, AND REGISTRABLE BODIES
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Hide history notePART 5B.1 - REGISTERING A BODY CORPORATE AS A COMPANY
Division 2 - Operation of the Corporations Law
SECTION 601BN LIABILITY OF MEMBERS ON WINDING UP 601BN A person who stopped being a member of the body before it was registered as a company under this Part is to be treated as a past member of the company in applying Division 2 of Part 5.6 to a winding up of the company. However, the person's liability to contribute to the company's property is further limited by this section to an amount sufficient for the following: (a) payment of debts and liabilities contracted by the company before the day on which the company was registered under this Part (b) payment of the costs, charges and expenses of winding up the company, so far as those costs, charges and expenses relate to those debts and liabilities (c) the adjustment of the rights between the contributories, so far as the adjustment relates to those debts and liabilities.
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