Commonwealth Numbered Acts
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CORPORATIONS ACT 1989 No. 109 of 1989 - SECT 501
Distribution of property of company
501. Subject to the provisions of this Act as to preferential payments, the
property of a company shall, on its winding up, be applied in satisfaction of
its liabilities equally and, subject to that application, shall, unless the
articles otherwise provide, be distributed among the members according to
their rights and interests in the company.
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