Commonwealth Consolidated Acts

CORPORATIONS ACT 2001 - SECT 1340

    Where unclaimed property is or includes shares in a body corporate, neither the Commonwealth nor ASIC is subject to any obligation:

  (a)   to pay any calls; or

  (b)   to make any contribution to the debts and liabilities of the body corporate; or

  (c)   to discharge any other liability; or

  (d)   to do any other act or thing;

in respect of the shares, whether the obligation arises before or after the shares become unclaimed property, but this section does not affect the right of a body corporate to forfeit a share.