Section 529 — Corporations Act 2001 (Cth)

Bankruptcy of contributory

If a contributory becomes an insolvent under administration, or assigns his or her estate for the benefit of his or her creditors, whether before or after being placed on the list of contributories:

(a) his or her trustee is to represent him or her for the purposes of the winding up and is to be a contributory accordingly; and

(b) calls already made, and the estimated value of his or her liability to future calls, may be proved against his or her estate.

Sourced from the Federal Register of Legislation at 17 May 2026. For the latest information on Australian Government law please go to https://www.legislation.gov.au. Verify the current text against the official source before relying on it.

Related sections

s 526 — Liability on certain contracts
s 527 — Nature of contributory’s liability
s 528 — Death of contributory
s 530 — Appointment of 2 or more liquidators of a company
s 530AA — Appointment of 2 or more provisional liquidators of a company
s 530A — Officers to help liquidator

Research how courts apply s 529

BriefBridge searches Australian caselaw by meaning — every answer cited to the paragraph.

Try BriefBridge free