Definitions for no liability
no li·a·bil·i·ty

WiktionaryRate this definition:0.0 / 0 votes

1. no liabilitynoun

   A form of limited liability that may be used by mining companies, under which the shareholders may pay a company debt by surrendering shares in lieu of money.

WikipediaRate this definition:0.0 / 0 votes

1. No liability

   A no-liability company in Australia (suffix NL) is a company which, under the Corporations Act 2001 (Cth), must have as its stated objects that it is solely a mining company and that it is not entitled to calls on the unpaid issue price of shares. It is a company which is restricted to mining activities and is the only sort of corporation which is entitled to this form of liability, given the sometimes financially risky business of mining. Most of the usual rules in the Act apply to no-liability companies, save that a mining company must adopt a constitution which states their objects as mining. No-liability companies should not be confused with the concept of limited liability. No-liability companies are differentiated from other companies as their shareholders are not liable to pay calls on unpaid shares. This differs from traditional company structure where the purchase of shares is a binding contract. Should the shareholder choose not to pay when there is a call, the shareholder forfeits both the unpaid and paid shares. This encourages investment in potentially risky mining ventures, as a shareholder with unpaid shares can choose to withdraw from the company with no legal consequences. A successful mining company usually converts to a limited liability company when advantageous.

WikidataRate this definition:3.0 / 2 votes

1. No liability

   A no-liability company in Australia is a company which, under the Corporations Act 2001, must have as its stated objects that it is solely a mining company and that it is not entitled to calls on the unpaid issue price of shares. It is a company which is restricted to mining activities and is the only sort of corporation which is entitled to this form of liability, given the sometimes financially risky business of mining. Most of the usual rules in the Act apply to no-liability companies, save that a mining company must adopt a constitution which states their objects as mining. No-liability companies should not be confused with the concept of limited liability. No-liability companies are differentiated from other companies as their shareholders are not liable to pay calls on unpaid shares. This differs from traditional company structure where the purchase of shares is a binding contract. Should the shareholder choose not to pay when there is a call, the shareholder forfeits both the unpaid and paid shares. This encourages investment in potentially risky mining ventures, as a shareholder with unpaid shares can choose to withdraw from the company with no legal consequences. A successful mining company usually converts to a limited liability company when advantageous.

How to pronounce no liability?

1. Alex

   US English

   David

   US English

   Mark

   US English

   Daniel

   British

   Libby

   British

   Mia

   British

   Karen

   Australian

   Hayley

   Australian

   Natasha

   Australian

   Veena

   Indian

   Priya

   Indian

   Neerja

   Indian

   Zira

   US English

   Oliver

   British

   Wendy

   British

   Fred

   US English

   Tessa

   South African

How to say no liability in sign language?

Numerology

1. Chaldean Numerology

   The numerical value of no liability in Chaldean Numerology is: 2

2. Pythagorean Numerology

   The numerical value of no liability in Pythagorean Numerology is: 2

Examples of no liability in a Sentence

1. Robert Litt:

   I would have thought that The Justice Department had looked at all possibility of criminal liability before determining there was nothing to investigate here.

2. Vibhuti Patel:

   They would see a daughter as a liability. A daughter means you have to spend. Sons are called blank checks, (In-laws) know they're going to get easy money from dowry.

3. Margaret Mwanakatwe:

   If your company is unable to pay the tax for any reason, we are ready, willing and able to defer your liability. We won't put away the liability, but we are happy to defer until a point in the future when your cash flows allow you to pay your tax.

4. Raymond Londa:

   As the consent decree language indicates, in several different places, it states that he did not in any way shape or form admit or acknowledge wrongdoing or liability, joseph Centanni continues to deny the allegations made against Joseph Centanni in this and in any other cases.

5. Claire McCaskill:

   We have got to get out of this defensive crouch about liability litigation and get into an offensive position about making sure drivers are safe.

References

1. ^ Wiktionary
   https://en.wiktionary.org/wiki/No_Liability
2. ^ Wikipedia
   https://en.wikipedia.org/wiki/No_Liability
3. ^ Wikidata
   https://www.wikidata.org/w/index.php?search=no liability