Commonwealth Consolidated Acts

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CORPORATIONS ACT 2001 - SECT 95A

Solvency and insolvency

             (1)  A person is solvent if, and only if, the person is able to pay all the person's debts, as and when they become due and payable.

             (2)  A person who is not solvent is insolvent.

Note:          A company is taken to be insolvent if the company proposes a restructuring plan to creditors (see subsection 455A(2)).



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