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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.
Defines Controlled delivery This convention legalized the act of Controlled delivery and defines "Controlled delivery" as "the technique of allowing illicit or suspect consignm
REGULATIONS REGARDING ELECTRICITY : You are aware that electricity is the most common and convenient source of power. You know that carelessness in handling or maintenance of elec
Division of company's Powers: Article 80 of Table A states: "The business of the company shall be managed by the directors one who may... exercise all the such powers of th
Bills: Further an Act of Parliament begins as a Bill that is the draft of law that Parliament intends to make. In section 46(1) of the constitution states like "the legislati
Gist of Lord Buckleys statement: The gist of Lord Buckley's statement, above, may be summarised as follows: The judges will not regard a transaction undertaken by a company as
QUESTION 1 Write in detail on the following (a) Agency shop orders and (b) Decrease from the remuneration of a worker for the employer's benefit QUESTION 2 An indust
i want to know the complete history of business.
Contributions of Equity Contributions of Equity as: Developed the so called maxims of equity and Provided additional remedies and Provided for the discovery of
Problem: (a) Show the difference between negotiation and Joint consultation Committee. (b) What is the difference between a procedural and a substantive agreement? (c) De
Create a Poster The summative assessment for the module is a poster session. The poster must take a theoretical perspective, supported by appropriate applied examples The p
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