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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.
Removal of Directors: By s.185(1) a company may by ordinary resolution remove a director before the expiration of his period of office, but notwithstanding anything in the art
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.
Illustrate the private bill of members? Private members’ Bill: It is where some MP’s are specified the chance (through ballot) to introduce a Bill on something which is o
Four main barriers to communications?
Advantages of Stare Decisis - Practicality In fact the case law method has enabled judges to adopt a practical approach for legal problems since those problems have arisen
Duties of Directors: The duties of directors are usually considered under two broad headings, namely- i. Duties of care and skill at common law, and ii. Fiduciary duties
Assets and liabilities of the company: Within 14 days of the making of the order for winding up a statement of affairs must be delivered to the liquidator (Official Receiver)
Misfeasance: Under s.324, misfeasance proceedings may be instituted against a director, promoter, manager, liquidator or "officer" (including an auditor) of a company in liqui
Question: (a) Suspected Illegal, Unreported & Unregulated (IUU) Vessels calling into Mauritius Port are subject to a series of investigations, prior to authorizing unloading
Investigation of Company's Membership: Section (1) empowers the registrar to appoint one or more competent inspectors to investigate and report on the membership of any comp
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