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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.
Subject-Matter of the Contract Through S.7(1) the goods such form the subject-matter of a contract of sale may exist either possessed or existing goods may like owned by the
I have a contract for employment, its is for a CTO position, giving me equity stake in the company, I do not agree with the offer and I have a counter offer, I need a experts opini
Alteration of Capital: A company is empowered by S.63 to alter the provisions of its memorandum of association which relates to its registered or authorised capital. However,
The concept of separate legal personality is fundamental to company law. With close reference to leading cases, explain this concept and its relationship to the doctrine of limit
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
The purpose of the assignment is to allow you to undertake independent research into a particular aspect of law, to reflect on and consider particular legal issues and to apply you
Fraudulent concealment of a book: Hence it is nothing to him where dividends are properly or improperly declared, and provided he discharges his own duty to the shareholders.
Public Law: Whether it contain of those fields or branches of law where such the state has an interest as the sovereign egg criminal law, administrative law, constitutional l
Order for compulsory liquidation: The Official Receiver also calls separate meetings of creditors and of contributories within one month of the order for liquidation: s.236.
Prohibition: Section 18 of the Registration of Business Names Act provides that the registration of a company's business name under the Act shall not be construed as authoris
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