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COMPANIES ACT 1963 - SECT 209 Liability of contributory.

209.—(1) The liability of a contributory shall create a debt accruing due from him at the time when his liability commenced, but payable at the times when calls are made for enforcing the liability.

(2) An action to recover a debt created by this section shall not be brought after the expiration of 12 years from the date on which the cause of action accrued.