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. Erica Jong:

   Growing up female in America. What a liability! You grew up with your ears full of cosmetic ads, love songs, advice columns, whoreoscopes, Hollywood gossip, and moral dilemmas on the level of TV soap operas. What litanies the advertisers of the good life chanted at you! What curious catechisms!

2. Martin Daum:

   Before mass production, the liability issue has to be addressed.

3. Roger Wicker:

   I fear that Section 230's sweeping liability protections for Big Tech are stifling true diversity of political discourse on the internet, on the eve of a momentous and highly charged election, it is imperative that this committee of jurisdiction and the American people receive a full accounting from the heads of these companies about their content moderation practices.

4. Zhengyu Huang:

   We are afraid that, more and more, the actions and the language of the government is premised on the assumption that just because we are Chinese or have cultural ties to China that we could be disloyal, or be spies, or be under the influence of a foreign government, we want to deliver the message: Not only are we not a national security liability — we are a national security asset.

5. Chairman Jeff Immelt:

   There is an extremely standard liability regime that the rest of the world has adopted and as we go forward and think about investing, whatever happens has to homogenized between India and the rest of the world.

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