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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.
Define the term - Inaction and crises We know that the standard social planner does not show and delay or have tendency of inaction and adopts a policy as soon as it is proved
Contributions of Equity Contributions of Equity as: Developed the so called maxims of equity and Provided additional remedies and Provided for the discovery of
Proceedings at Meetings: (a)Each item of business comprised in the notice should be taken separately, discussed and put to the vote. Members may propose ammendments to the re
State Article 10 of air and outer space law Article 10 allows the aircraft to cross the territory of a contracting State without landing, and further states that every aircraft
What is the Flexible Exchange Rates With a fully flexible exchange rate adjustment toward the long run equilibrium occurs via a change in relative prices. This effect is shown
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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Self-Control : Most entrepreneurs believe they can do the job better than anyone else and will strive for maximum responsibility and accountability. An entrepreneur needs to maint
What is the meaning of Policy process planning We shall see a step wise guide applied in actual policy formulation. It will pull you out of the jungle of technical interconnect
Assignments submitted after the due date in the absence of an extension will incur a marking penalty. An extension must be applied for in writing before the due date. Extension app
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