Statute
Section 523 — Corporations Act 2001: Past member of former unlimited company
Text of the provision Official document
If an unlimited company changes to a limited company under section 164, a past member who was a member at the time of the change is liable: (a) despite section 521; and (b) if no person who was a member at that time is a member at the commencement of the winding up—despite section 522; to contribute in respect of the company’s debts and liabilities contracted before that time.
Official source: Federal Register of Legislation
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