Fully paid and non-assessable shares
Filed Under: Corporate and Commercial Law
1 definition found for this term.
Definitions are presented in the order source books were published (most recent first).
Shares with respect to which the consideration has been paid in full before they may be issued, and no further amounts can be assessed after they are issued. Under the CBCA and statutes modelled on it, all shares must be issued as fully paid and non-assessable. See CBCA, s. 25(2)