Commonwealth Consolidated Acts

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CORPORATIONS (ABORIGINAL AND TORRES STRAIT ISLANDER) ACT 2006 - SECT 551.10

Registrar and Commonwealth not liable to pay calls on shares etc.

    If unclaimed property is or includes shares in a body corporate, the Registrar and the Commonwealth are not 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.


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