Commonwealth Consolidated Acts

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CORPORATIONS ACT 2001 - SECT 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.



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