225. Distribution of Company's property
Past version: effective from 14/06/2015 - 13/06/2015
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(1) Subject to Section 263 (Insolvency of clearing and settlement intermediaries or authorised market institutions; client assets), the Company's assets available for payment of general creditors shall on the winding-up be applied in satisfaction of the following liabilities in the order of priority of —
(a) all expenses properly incurred in the winding-up in accordance with Section 226 (General rule as to priority of expenses);
(b) any Preferential Debts of the Company in accordance with Section 227 (Preferential Debts);
(c) the remainder of the Company's liabilities in accordance with Section 228 (Unsecured debts of insolvent Company to rank equally); 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.