Statute
Section 501 — Corporations Act 2001: Distribution of property of company
Text of the provision Official document
Subject to the provisions of this Act as to preferential payments, the property of a company must, on its winding up, be applied in satisfaction of its liabilities equally and, subject to that application, must, unless the company’s constitution otherwise provides, be distributed among the members according to their rights and interests in the company.
Official source: Federal Register of Legislation
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