THE CORPORATIONS LAW
PART 13 - THE CORPORATIONS LAW
THE CORPORATIONS LAW 82 The Corporations Law is as follows:...
CHAPTER 6D - FUNDRAISING
PART 6D.3 - PROHIBITIONS, LIABILITIES AND REMEDIES
Division 2 - Remedies
SECTION 737 REMEDIES FOR INVESTORS 737(1) Right to withdraw and have money returned. If securities are issued to a person in contravention of section 724 (situation calling for a supplementary or replacement document), the person has the right to return the securities and to have their application money repaid. This is so even if the company that issued the securities is being wound up. 737(2) [Need for written notice] A right referred to in subsection (1) is exercisable by written notice given to the company within 1 month after the date of the issue. 737(3) [Personal liability] If the body or the seller does not repay the money as required by subsection (1), the directors of the body or seller are personally liable to repay the money.This information is provided by CCH Australia Limited Link opens in new window. View the disclaimer and notice of copyright.