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223. Unlimited Company formerly limited

(1) This Section applies in the case of a Company being wound up which was at some former time registered as a limited Company but has been re-registered as an unlimited Company.
(2) A person who, at the time when the application for the Company to be re-registered as an unlimited Company was lodged, was a past member of the Company and did not after that again become a member of it, is not liable to contribute to the assets of the Company more than he would have been liable to contribute had the Company not been re-registered.