Commonwealth Numbered Acts

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CORPORATIONS ACT 2001 No. 50, 2001 - SECT 518

Company limited both by shares and by guarantee

Subject to section 519, if the company is a company limited both by shares and by guarantee, neither of sections 516 and 517 applies but the member need not contribute more than the aggregate of the following:

the amount (if any) unpaid on shares in respect of which the member is liable as a present or past member;

the amount that the member has undertaken to contribute to the company's property if the company is wound up.

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