No liability
"No liability" in a Sentence (3 examples)
It was originally estimated that the mill of the Kingsgate Molybdenite No Liability, Kingsgate, NSW, would have been completed by the end of March,[…].
The use of no-liability companies is restricted to companies whose sole objective is mining, as designated by the Corporations Law. However, it is not necessary for a mining company to be a no-liability company.
A company may be registered as a no liability company only if: (a) the company has a share capital; and (b) the company′s constitution states that its sole objects are mining purposes; and (c) the company has no contractual right under its constitution to recover calls made on its shares from a shareholder who fails to pay them.