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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.
Gains from Policy Coordination The previous section has illustrated how large countries typically face positive or negative spill over effects associated with aggregate demand
Registration of Resolutions: By S.143(1) a printed copy of the following resolutions shall, within 30 days after the passing thereof, be delivered to the registrar for registr
Contractual Capacity of Persons of Unsound Mind Furthermore a contract entered into through a person of unsound mind is voidable on his option whether it is proved that the ot
1. Indicate whether the following statements are true or false and briefly explain your answer. a. Actions by government to increase spending and by the central bank to increase
Houghland, a passenger in one of McAnn's buses, had his suitcase stored in a luggage comp of the bus for a trip from Brisbane to Cairns. The suitcase was lost during the course of
State the third approach to antitrust agency A third approach to antitrust agency interaction is the bilateral cooperation and coordination theory. This model for how an agency
Limited Partnerships Through virtue of the Limited Partnerships Act, such the liability of certain partners that may be limited to a certain extent. Further the chief provisions
Bagra Used Cars Ltd. has as the most prominent show on its lot an immaculate, highly polished model which rotates slowly on a raised circular platform under powerful floodlights. T
Family and Medical Leave Act: There is a split among the federal circuit courts of appeal on whether or not public employees/officials may be considered "employers" and theref
Disadvantages of Arbitration First is, Arbitral awards have no precedential value as that they cannot be relied on in subsequent proceedings Second is, Arbitrati
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