Commonwealth Numbered Acts

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CORPORATIONS ACT 2001 No. 50, 2001 - SECT 966

No claim in respect of money lent to dealer

Where, as at the time when a dealer becomes insolvent:

a person has lent money to the dealer; and

the liability of the dealer to repay the money remains undischarged;

this Division does not, because of the dealer having become insolvent at that time, entitle the person to make a claim in respect of the money.

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