Corporations Act 2001
(a) cause the company's property to be collected and applied in discharging the company's liabilities; and
(b) consider whether subsection (1A) requires him or her to settle a list of contributories. 478(1A) [ Settlement of list of contributories]
(i) there are persons liable as members or past members to contribute to the company's property on the winding up; or
(ii) there will be a surplus available for distribution; and
(b) it will be necessary:
(i) to make calls on contributories; or
478(1B) [ Rectification of register]
(ii) to adjust the rights of the contributories among themselves.
A liquidator of such a company may rectify the register of members so far as required under this Part.
[ CCH Note: There is no subsection 478(2).]
In settling the list of contributories the liquidator must distinguish between persons who are contributories in their own right and persons who are contributories by virtue of representing, or being liable for the debts of, other persons.478(4) [ List prima facie evidence]
The list of contributories, when settled in accordance with the regulations, is prima facie evidence of the liabilities of the persons named in the list as contributories.478(5) [ No liability company]
Paragraph (1)(b) and subsections (1A), (1B), (3) and (4) do not apply to a no liability company.