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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.
Appointment of Directors: In the absence of other provisions in a company's articles, the directors of the company would be appointed in accordance with the following provisio
The "search incident" exception authorizes a search of the arrestee's person, including examination of personal articles such as wallets, purses, or other items, as well as the are
QUESTION 1 Mr. Smith is going for his driving test at the Traffic Branch of the police force in Port- Louis. On his arrival, he approaches Police Constable Edouard to facilitat
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what is wbp? and its danger and benefits ? components of wbp?
QUESTION 1 Nowadays, many people are opting for Alternative Dispute Resolution (ADR) as a means to settle commercial disputes due to its advantages. Discuss QUESTION 2
Article 2 - State Responsibility Article 2 . This article lists down the elements of what constitute International wrongful act of a state. Means both wrongful acts and omissi
Determine the term - Fixed Exchange Rates With a fixed exchange rate adjustment toward long run equilibrium occurs via monetary effects. This effect is shown in Figure 9.1. At
Advantages - Take-over bid: A non-accepting shareholder who applies to the court to set aside the proposed compulsory acquisition of his shares under s.210 will fail unless he
Explain the basic criticism of the stages framework The basic criticism of the stages framework is that it, in a formal sense, parallels the cognitive steps of the rational ap
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