Corporations Act 2001

SCHEDULE 2 - INSOLVENCY PRACTICE SCHEDULE (CORPORATIONS)  

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.


 

Disclaimer and notice of copyright applicable to materials provided by CCH Australia Limited

CCH Australia Limited ("CCH") believes that all information which it has provided in this site is accurate and reliable, but gives no warranty of accuracy or reliability of such information to the reader or any third party. The information provided by CCH is not legal or professional advice. To the extent permitted by law, no responsibility for damages or loss arising in any way out of or in connection with or incidental to any errors or omissions in any information provided is accepted by CCH or by persons involved in the preparation and provision of the information, whether arising from negligence or otherwise, from the use of or results obtained from information supplied by CCH.

The information provided by CCH includes history notes and other value-added features which are subject to CCH copyright. No CCH material may be copied, reproduced, republished, uploaded, posted, transmitted, or distributed in any way, except that you may download one copy for your personal use only, provided you keep intact all copyright and other proprietary notices. In particular, the reproduction of any part of the information for sale or incorporation in any product intended for sale is prohibited without CCH's prior consent.