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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.
Disadvantages of Stare Decisis Over-subtlety or Artificiality However a judge is forced, but it were follow an earlier case that, his conscience may preclude him from
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Legal justification - Constructive notice: The legal justification for this rule is that since the company's public documents in its file at the Companies Registry are availab
1. Sometimes laws are created that are done for ethical reasons. For instance, it is wrong to pollute, so Congress passed the Environmental Protection Act, which punished those tha
Redemption of Shares: Section 60 (1) empowers a company limited by shares to issue preference shares that are, or may be at the option of the company are to be liable, to be r
Question 1: i) What is the rationale of centralized and decentralized bargaining? ii) Give examples of benefits associated with centralized bargaining. iii) Give exam
ADVANTAGES: Therefore some of the advantages or strong point of delegated legislation are:as; (a) Compensation of lost Parliamentary time Conversely parliamentarians a
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