Section 370: Distribution of property of company
The Companies Act, 2017 · Federal Acts · in_force
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370. Distribution of property of company.—Subject to the provisions of this Act as to preferential payments, the property of a company shall, on its winding up, be applied in satisfaction of its liabilities pari passu and, subject to such application shall, unless the articles otherwise provide be distributed among the members according to their rights and interests in the company.
Effective date: 2017-05-30
Related sections
Section 369: Final meeting and dissolutionSection 371: Application of sections 320 and 321 to voluntary winding upSection 368: Duty of liquidator to call meeting of company and of creditorsSection 372: Powers and duties of liquidator in voluntary winding upSection 367: Application of section 356 to a creditors voluntary winding upSection 373: Power of Court to appoint and remove liquidator in voluntary winding up
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