Corporations Act 2001
CHAPTER 1
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INTRODUCTORY
PART 1.2
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INTERPRETATION
Division 7
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Interpretation of other expressions
SECTION 95A
SOLVENCY AND INSOLVENCY
95A(1)
A person is solvent if, and only if, the person is able to pay all the person's debts, as and when they become due and payable. 95A(2)
A person who is not solvent is insolvent.
A person is solvent if, and only if, the person is able to pay all the person's debts, as and when they become due and payable. 95A(2)
A person who is not solvent is insolvent.
Note: A company is taken to be insolvent if the company proposes a restructuring plan to creditors (see subsection 455A(2) ).
[ CCH Note: There is no section 96.]
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