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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.
Explain the first kind of treaty Under international law, treaties primarily serve three separate purposes, though any one treaty may perform more than one function. The first
Define the non-state actors Besides the efforts of ILC in defining a link between the state responsibility and non-state actors, some UNSC resolutions have tried to define the
Powers: The ultra vires doctrine limits a company's powers to the attainment of the company's objects under its memorandum of association. Partnerships are not affected by t
Implied Conditions and Warranties - Sales and Goods Whether section 8 of the Act implies that the next terms in every hire purchase agreement like: a) Right to sell: whethe
1. Each country in the world is a member of the World Trade Organization (WTO). 2. A federal court of the United States and a state court can both "hear," i.e., listen to the cl
Statutory Form: Section 14 of the Act provides that the form of the Memorandum of Association of a company limited by shares shall be in accordance with th
Choice Of Method: There are three statutory methods to be considered: Where one company offers to acquire the shares of another company and its offer is accepted b
. what’s the Kantian case for condemning Clone CD for their project?
Question: (a) Define democracy. How far is the famous saying of former president of USA, Abraham Lincoln valid today? (b) Argue the case for and against the introduction
Question 1: (a) Explain what is meant by Subsidiary Legislation and the reasons for using such a Law. (b) Explain the ways in which Subsidiary Legislation is controlled.
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