Member liability in winding up: present and past members may be required to contribute toward company debts subject to statutory qualifications. Liability in a company's winding up is imposed on present and past members to contribute to assets for payment of debts, liabilities and winding up costs, subject to statutory qualifications. Past members are exempt if they ceased membership one year before winding up, for debts contracted after cessation, and unless the Tribunal finds present members unable to satisfy contributions. Contributions in companies limited by shares or guarantee are capped by unpaid shares or the guaranteed amount; insurance or contractual limits on member liability remain effective.