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CORPORATIONS ACT 2001

SCHEDULE 2 - INSOLVENCY PRACTICE SCHEDULE (CORPORATIONS)    View history reference

Note: See section 600K.

PART 3 - GENERAL RULES RELATING TO EXTERNAL ADMINISTRATIONS  

Division 60 - Remuneration and other benefits received by external administrators  

Subdivision B - Remuneration of external administrators - general rules  

CLAUSE 60-11  REVIEW OF REMUNERATION DETERMINATIONS  

Review on application

60-11(1)  

Any of the following may apply to the Court for a review of a remuneration determination for an external administrator of a company:


(a) ASIC;


(b) a person with a financial interest in the external administration of the company;


(c) an officer of the company.

60-11(2)  

Paragraph (1)(c) has effect despite section 198G.

Note: Section 198G deals with powers of officers etc. while a company is under external administration.

60-11(3)  

On application under subsection (1), the Court may, if it considers it appropriate to do so, review the remuneration determination.

Note: See also section 60-12 (matters to which the Court must have regard).

Court must affirm, vary or set aside remuneration determination

60-11(4)  

After reviewing the remuneration determination, the Court must:


(a) affirm the remuneration determination; or


(b) vary the remuneration determination; or


(c) set aside the remuneration determination and substitute another remuneration determination.

Exception

60-11(5)  

Subsection (1) does not apply to a remuneration determination made by the Court.

 



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