Section 296: Liability of Contributory having fully paid share
The Companies Act, 2017 · Federal Acts · in_force
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296. Liability of Contributory having fully paid share.—A person holding fully paid-up shares in a company shall be considered as a contributory but shall have no liabilities of a contributory under this Act while retaining rights of such a contributory. Explanation.—The term “contributory” means a person liable to contribute towards the assets of the company on the event of its being wound up.
Effective date: 2017-05-30
Related sections
Section 295: Liability of directors whose liability is unlimitedSection 297: Nature of liability of contributorySection 294: Liability as contributories of present and past membersSection 298: Contributories in case of death of memberSection 293: Modes of winding upSection 299: Contributory in case of insolvency of member
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