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.
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