Companies Act Section 297 — Adjustment of rights of contributories

CHAPTER XX WINDING UP

Commercial / Corporate

Summary

The Tribunal is required to settle how the rights of the contributories (people liable to contribute to a company's assets, such as shareholders) stand in relation to one another. It must also distribute any leftover surplus funds to the persons who are legally entitled to receive them.

Official Text

The Tribunal shall adjust the rights of the contributories among themselves and distribute any surplus among the persons entitled thereto.