Commonwealth Numbered Acts

CORPORATIONS ACT 1989 No. 109 of 1989 - SECT 395

395. (1) If, on the winding up of a no liability company, there remains any
surplus, the surplus shall be distributed amongst the parties entitled to it
in proportion to the shares held by them respectively irrespective of the
amounts paid up on the shares.

(2) A member who is in arrears in payment of any call, but whose shares have
not been actually forfeited, is not entitled to share in such a distribution
until the amount owing in respect of the call has been fully paid and
satisfied.