CORPORATIONS ACT 2001
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
Any of the following may apply to the Court for a review of a remuneration determination for an external administrator of a company:
(b) a person with a financial interest in the external administration of the company;
(c) an officer of the company.
Paragraph (1)(c) has effect despite section 198G.
Note: Section 198G deals with powers of officers etc. while a company is under external administration.
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
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.
Subsection (1) does not apply to a remuneration determination made by the Court.