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Q. Liability based definition of phoenix activity?
The definition used by Treasury, and used as a working definition for this project, focuses on the intent with which phoenix activity is undertaken. A strength of such a definition is that it distinguishes between honest behaviour and phoenix activity. Additionally, in not specifying how the corporate form is manipulated it would not need to be updated to keep pace with the evolution of phoenix activity. However, it is perhaps not useful in providing clarity for those with little familiarity with phoenix activity or corporate law.
Functions of Law: we discuss like, how can be utilized Functions of Law:;- are (i) For Rules of law facilitate administration of justice. It is an instrument used
Raising Of Capital: In commercial parlance, the word 'capital' is generally used to denote the amount by which the assets of a business exceed its liabilities. Conversely, in
John, a young CPA and one of the audit team members for Moulberg Electrical Appliances Ltd, has developed very good insights into the company's systems in the last 12 months and wa
Hire-Purchase and Sale The hire-purchase transaction is such not a sale since, according to the definition like: (i)There is no seller or buyer. Such like the parties are the
when can implied condition can be treated as warrantee?
High Court - Establishment and Composition Establishment Further the High Court is established through S.60 (1) of the Constitution that states which 'there shall be a
District Magistrate's Court Establishment Further District Magistrate's Courts are established to each district in England thgrough S.7(1) of the Magistrate's Courts Ac
Registered Office Clause: Section 5(1) (b) provides that the memorandum of association shall state that "the registered office of the company is to be
ASSETS IN THE POSSESSION OF CREDITORS: If the creditor has seized assets in the course of executing a judgement for debt against the company and at the commencement of the wi
Q. Approaches to defining phoenix activity? There are a number of approaches to defining phoenix activity that could be used. These approaches are summarised below. It should b
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