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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.
Dishonour by Non-Acceptance The drawee is not prepared to meet the bill, such he will return it for the holder by means of a note to this effect, such the bill is then so said
Legislature-Executive Trade off Let us move a bit closer to the reality. In standard modes of policy optimization we assure that there is a single policy maker, who controls th
Compulsory Change: Section 20(2) of the Act provides that within six months of registration with a particular name the registrar may direct a change in name if in his opinion
Order for compulsory liquidation: The Official Receiver also calls separate meetings of creditors and of contributories within one month of the order for liquidation: s.236.
Change of Name: A company's name may be changed voluntarily or compulsorily (a) Voluntary Change A company's name may be changed voluntarily: i. Under s.2.1 if a sp
Both Sudan and the US are signatories to the "New York Convention." A Sudanese company has won its case in a Sudanese arbitration panel. The U.S. company has declined to pay this
A is a Malaysian contractor in the oil and gas business. B is a large British oil exploration company. By a written Contract, B appointed A in January 2008 to maintain B's offshore
Question 1: One important cause of ineffective public relations efforts is the lack of planning. Using evidence from any organization, describe the four-step planning process t
In the paper Action against Fraudulent Phoenix Activity: Proposals Paper, Treasury made a range of recommendations to amend director's liability provisions and taxation law. Rec
WITH REFERENCE TO THE STANDARD FORM CONTRACT (in isolation) 1. Explain the legal issue that clause 1 of the standard form contract is addressing and what it is aiming to achiev
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