Company Law Review Act 1998 (61 of 1998)

Schedule 2   Consequential amendment of the Corporations Law

Part 3   Shares (new Chapter 2H) Transactions affecting share capital (new Chapter 2J)

221   Paragraph 420(2)(s)

Repeal the paragraph, substitute:

(s) if the receiver was appointed under an instrument that created a charge on uncalled share capital of the corporation:

(i) to make a call in the name of the corporation for the payment of money unpaid on the corporation's shares; or

(ii) on giving a proper indemnity to a liquidator of the corporation - to make a call in the liquidator's name for the payment of money unpaid on the corporation's shares;