Commonwealth Repealed Acts
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This legislation has been repealed.
CORPORATIONS LAW- SECT 563AA
Seller under a buy-back agreement
- (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.
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