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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.
Resolutions: A meeting reaches a decision by passing a resolution. There are two kinds of resolution, ie. (a) an ordinary resolution which is carried by a simple majority
Discuss the importance of Media Media are important to agenda setting in two general ways: First by constructing and conveying simplified and often symbolic understandings of p
Ways which affect the behaviour of the policy maker There may be at least three ways this uncertainty may affect the behaviour of the policy maker. a) He may chose mainly th
Qualification Shares: S.183(1) provides that it shall be the duty of every director who is by the articles of the company required to hold a specified qualification, and who i
WHAT ARE MITIGATING FACTORS OF A CONTRACT
Intellectual property refers to creations of the mind like inventions, artistic and literary works, designs, and more used for profit. There are two categories of intellectual prop
Liabilities In Respect Of Prospectuses: 1. CRIMINAL LIABILITIES i) Issuing a form of application unaccompanied by a full prospectus: a fine not
Standard of proof in criminal cases: Whenever the standard of proof in criminal cases is away from any reasonable doubt. Further in the event of any reasonable doubt the accu
State the theory of international antitrust A fourth approach is the allocation of jurisdiction over conduct with multijurisdictional effects to one agency by another agency th
Supervisory Jurisdiction and Admiralty Jurisdiction Supervisory Jurisdiction However the High Court has jurisdiction under S.65 (2) of the Constitution to supervise a n
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