Statute
Section 563AA — Corporations Act 2001: Seller under a buy-back agreement
Text of the provision Official document
(1) The selling shareholder’s claim under a buy-back agreement is postponed until all debts owed to people otherwise than as members of the company have been satisfied. (2) The shareholder’s claim is not a debt owed by the company to the seller in the shareholder’s capacity as a member of the company for the purposes of section 563A.
Official source: Federal Register of Legislation
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