BANKRUPTCY ACT 1966

SCHEDULE 2 - INSOLVENCY PRACTICE SCHEDULE (BANKRUPTCY)  

Note: See section 4A .

PART 3 - GENERAL RULES RELATING TO ESTATE ADMINISTRATIONS  

Division 90 - Review of the administration of a regulated debtor ' s estate  

Subdivision C - Review by Inspector-General  

SECTION 90-21   REVIEW BY INSPECTOR-GENERAL  

90-21(1)  
The Inspector-General may carry out a review of the remuneration received by the trustee of a regulated debtor ' s estate for services performed by the trustee in relation to the administration of the estate.

90-21(2)  
The Inspector-General may carry out a review under this Subdivision:


(a) on his or her own initiative; or


(b) on application by the regulated debtor or a creditor.

90-21(3)  
The trustee, the regulated debtor or a creditor of the regulated debtor may apply to the Court for an order in relation to a decision of the Inspector-General in relation to the review.

90-21(4)  
In making an order under subsection (3), the Court must have regard to whether the remuneration received by the trustee is reasonable, taking into account any or all of the following matters:


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


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


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


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


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


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


(g) the extent (if any) to which the trustee 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 trustee;


(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 trustee in performing the work;


(k) any other relevant matters.




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