Commonwealth Consolidated Acts

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CORPORATIONS ACT 2001 - SECT 563AA

Seller under a buy-back agreement

             (1)  The selling shareholder's claim under a buy-back agreement is postponed until all debts owed to people otherwise than as members of the company have been satisfied.

             (2)  The shareholder's claim is not a debt owed by the company to the seller in the shareholder's capacity as a member of the company for the purposes of section 563A.



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