THE CORPORATIONS LAW

CHAPTER 5 - EXTERNAL ADMINISTRATION

PART 5.3A - ADMINISTRATION OF A COMPANY'S AFFAIRS WITH A VIEW TO EXECUTING A DEED OF COMPANY ARRANGEMENT

Division 15 - Removal, replacement and remuneration of administrator

SECTION 449E   REMUNERATION OF ADMINISTRATOR  

449E(1)  [Administrator's entitlement to remuneration]  

The administrator of a company under administration, or of a deed of company arrangement, is entitled to:

(a)  such remuneration as is fixed by a resolution of the company's creditors passed at a meeting convened under section 439A, or under section 439A or 445F, as the case may be; or

(b)  if no remuneration is so fixed - such remuneration as the Court fixes on the application of the administrator.

449E(2)  [Power of Court to vary remuneration]  

Where remuneration is fixed under paragraph (1)(a), the Court may, on the application of the administrator or of an officer, member or creditor of the company:

(a)  review the remuneration; and

(b)  confirm, increase or reduce it.

449E(3)  [Sec 437C]  

Subsection (2) has effect despite section 437C.