Statute
Section 524 — Corporations Act 2001: Past member of former limited company
Text of the provision Official document
If a limited company changes to an unlimited company under section 164, a person who, at the time when the company applied for the change, was a past member and did not again become a member after that time need not contribute more than they would have been liable to contribute if the company had not changed type.
Official source: Federal Register of Legislation
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