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PREFERENTIAL DEBTS:
These unsecured debts which rank ahead of a floating charge and non-preferential debts are:(a) one year's taxes, i.e. corporation tax, PAYE income tax deducted, rates, VAT unpaid at the "relevant date". The relevant date is defined as:i. the date of the order for compulsory liquidation (or any earlier order for appointment of a provisional liquidator); orii. the date of passing the resolution to wind up voluntarily.If more than one year's tax is outstanding the Income Tax Department may select whichever year yields the largest amount of corporation tax; in other cases it is the latest year's tax which is a preferential debt;(b) wages and salary of an employee, i.e. clerk, servant, workman or labourer (including commission or piece work payments) of the four months up to the relevant date limited to a maximum of four thousand shillings owed to each individual employee, accrued holiday pay and employer's National Social Security Fund (NSSF) contributions. A director is not an employee in respect of a claim for unpaid fees - but he may be in respect of salary if he has a contract of service.
Effects or Consequences of Illegality Misdemeanour Or Illegality renders a contract unenforceable. However the contract creates no rights and imposes no obligations at the pa
State Article 19 and 20 of air and outer space law Article 19 refers to the registration or transfer of registration of aircraft in any contracting State shall be made in acc
Name the issue pertaining to state succession The first issue pertaining to state succession is treaties. The new state would have to embark upon with the treaties signed by th
Explain about the Stages Model of Policy Outcome Dividing the policy process into discrete steps is also the analytic point of departure for much of the more recent work on pol
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QUESTION 1 (a) What are usually accepted principles of corporate governance. (b) What factors can lead to incrising corruption in the business environment? QUESTION 2
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Question 1: (A) What do you understand by Collective Bargaining? (B) What is collective bargaining from: (I) The economic point of view
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