Section 1340 — Corporations Act 2001: No liability to pay calls on shares etc.

Where unclaimed property is or includes shares in a body corporate, neither the Commonwealth nor ASIC is subject to any obligation: (a) to pay any calls; or (b) to make any contribution to the debts and liabilities of the body corporate; or (c) to discharge any other liability; or (d) to do any other act or thing; in respect of the shares, whether the obligation arises before or after the shares become unclaimed property, but this section does not affect the right of a body corporate to forfeit a share.