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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.
Types of Authority - Agency Law Further there are three types of authority namely like:; (a) Real or factual However this is the authority that in fact is given to the
Warranties - Terms used in Contract Conversely the following are the warranties implied by the Act like: (a) Quiet possession with (s.14 (b)). However this provision is int
What is the justification behind the right of innocent passage through territorial waters, when the waters actually form a part of the states sovereign territory? The rational
Describe about the Policy Agenda Setting Agenda setting under direct democracy. Agenda setting concerns to the rules on the grounds of which policy proposals come up for a vote
QUESTION a) How is the term "investor" defined in the Investment Promotion Act? b) In what ways can the Board of Investment (BOI) assist in business facilitation and Public-Pr
Ratified - pre-incorporation contract: If the agreement is a written one and it shows that the proposed company was the contracting party the promoters will not be allowed to
Q. Show the Cross agency actions ? As already described, the ASIC, ATO and FWO all have responsibilities in investigating and monitoring elements of phoenix activity. This mean
Societies: Societies are associations registered under the Societies Act 1968. Section 2(1) of the Act defines a society very broadly as including any club, co
What is the difference between an express term and an implied term? Provide me with an example of each.
Most legal conflicts are settled outside of court, frequently using some sort of dispute resolution. There are times when a party cannot take a case to court until they have made a
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