Section 553AA — Corporations Act 2001 (Cth)

The selling shareholder in a share buy‑back may claim in a winding up of the company but is not entitled to a distribution of money or property unless the shareholder has discharged the shareholder’s obligations to give documents in connection with the buy‑back.

Note: The selling shareholder’s claim ranks after those of non‑member creditors and before those of other member creditors (see section 563AA).

Related sections

• s 550 — Deregistration
• s 553 — Debts or claims that are provable in winding up
• s 553A — Member cannot prove debt unless contributions paid
• s 553AB — Superannuation contribution debts not admissible to proof
• s 553B — Insolvent companies—penalties and fines not generally provable
• s 553C — Insolvent companies—mutual credit and set‑off

Research how courts apply s 553AA

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