Corporations Act 2001
CHAPTER 5
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EXTERNAL ADMINISTRATION
PART 5.6
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WINDING UP GENERALLY
Division 2
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Contributories
SECTION 518
518
COMPANY LIMITED BOTH BY SHARES AND BY GUARANTEE
Subject to section 519, if the company is a company limited both by shares and by guarantee, neither of sections 516 and 517 applies but the member need not contribute more than the aggregate of the following:
(a) the amount (if any) unpaid on shares in respect of which the member is liable as a present or past member;
(b) the amount that the member has undertaken to contribute to the company's property if the company is wound up.
Note: This Part applies to a sub-fund of a CCIV in a modified form: see Division 5 of Part 8B.6 .
View history note
Hide history noteSubject to section 519, if the company is a company limited both by shares and by guarantee, neither of sections 516 and 517 applies but the member need not contribute more than the aggregate of the following:
(a) the amount (if any) unpaid on shares in respect of which the member is liable as a present or past member;
(b) the amount that the member has undertaken to contribute to the company's property if the company is wound up.
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