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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 60-12  

60-12  MATTERS TO WHICH THE COURT MUST HAVE REGARD  

In making a remuneration determination under paragraph 60-10(1)(c) or (2)(b), or reviewing a remuneration determination under section 60-11, the Court must have regard to whether the remuneration is reasonable, taking into account any or all of the following matters:


(a) the extent to which the work by the external administrator was necessary and properly performed;


(b) the extent to which the work likely to be performed by the external administrator is likely to be necessary and properly performed;


(c) the period during which the work was, or is likely to be, performed by the external administrator;


(d) the quality of the work performed, or likely to be performed, by the external administrator;


(e) the complexity (or otherwise) of the work performed, or likely to be performed, by the external administrator;


(f) the extent (if any) to which the external administrator was, or is likely to be, required to deal with extraordinary issues;


(g) the extent (if any) to which the external administrator was, or is likely to be, required to accept a higher level of risk or responsibility than is usually the case;


(h) the value and nature of any property dealt with, or likely to be dealt with, by the external administrator;


(i) the number, attributes and conduct, or the likely number, attributes and conduct, of the creditors;


(j) if the remuneration is worked out wholly or partly on a time-cost basis - the time properly taken, or likely to be properly taken, by the external administrator in performing the work;


(k) whether the external administrator was, or is likely to be, required to deal with one or more controllers, or one or more managing controllers;


(l) if:


(i) a review has been carried out under Subdivision C of Division 90 (review by another registered liquidator) into a matter that relates to the external administration; and

(ii) the matter is, or includes, remuneration of the external administrator;

the contents of the report on the review that relate to that matter;


(m) any other relevant matters.

 



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