Section 553A — Corporations Act 2001 (Cth)

Member cannot prove debt unless contributions paid

A debt owed by a company to a person in the person’s capacity as a member of the company, whether by way of dividends, profits or otherwise, is not admissible to proof against the company unless the person has paid to the company or the liquidator all amounts that the person is liable to pay as a member of the company.

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 545 — Expenses of winding up where property insufficient
s 550 — Deregistration
s 553 — Debts or claims that are provable in winding up
s 553AA — Selling shareholder cannot prove debt unless documents given
s 553AB — Superannuation contribution debts not admissible to proof
s 553B — Insolvent companies—penalties and fines not generally provable

Research how courts apply s 553A

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

Try BriefBridge free