Commonwealth Repealed Acts

This legislation has been repealed.

CORPORATIONS LAW- SECT 1340

Where unclaimed property is or includes shares in a body corporate, the Commission is not subject to any obligation:

(a)

to pay any calls;

(b)

to make any contribution to the debts and liabilities of the body corporate;

(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.