CORPORATIONS ACT 2001 - SECT 524 Past member of former limited company
CORPORATIONS ACT 2001 - SECT 524
Past member of former limited company If a limited company changes to an unlimited company under
section 164, a person who, at the time when the company applied for the
change, was a past member and did not again become a member after that time
need not contribute more than they would have been liable to contribute if the
company had not changed type.