Financial Services Reform (Consequential Provisions) Act 2002 (29 of 2002)

Schedule 2   Corporations Act 2001

1   Before section 97

Insert:

95A Solvency and insolvency

(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.

(2) A person who is not solvent is insolvent.