Members
 
 
 
ACT 125
COMPANIES ACT 1965 (REVISED - 1973)
PART X - WINDING UP
DIVISION 3 - VOLUNTARY WINDING UP
Subdivision (4) - Provisions applicable to every Voluntary Winding up

 
Section 264. Distribution of property of company.
 
Section 264. Distribution of property of company. (COMPANIES ACT 1965 (REVISED - 1973) - ACT 125) Subject to the provisions of this Act as to preferential payments the property of a company shall, on its winding up, be applied pari passu in satisfaction of its liabilities, and subject to that application shall, unless the articles otherwise provide, be distributed among the members according to their rights and interests in the company.