Australian Capital Territory Numbered Regulations

[Index] [Table] [Search] [Search this Regulation] [Notes] [Noteup] [Previous] [Next] [Download] [Help]

CORPORATIONS LAW RULES 2000 (2000 NO 16) - REG 60

Remuneration of administrator (s 449E (1) of the Law)—form 16

(1)       This rule applies to an application by the administrator of a company under administration, or of a deed of company arrangement, for an order under subsection 449E (1) of the Law fixing the administrator's remuneration.

(2)       The administrator must not apply for the order until after the end of 28 days after the date when a meeting of creditors mentioned in paragraph 449E (1) (a) of the Law was held.

(3)       At least 21 days before filing an originating or interlocutory process seeking the order, the administrator must serve a notice in accordance with form 16 of the administrator's intention to apply for the order, and a copy of any affidavit on which the administrator intends to rely, on the following persons:

        (a)     each creditor who was present, in person or by proxy at the meeting of creditors;

        (b)     each member of any committee of inspection;

        (c)     each member of the company whose shareholding represents at least 10% of the issued capital of the company.

(4)       Within 21 days after the last service of the documents mentioned in subrule (3), any creditor or contributory may give to the administrator a notice of objection to the remuneration claimed, stating the grounds of objection.

(5)       If the administrator does not receive a notice of objection within the period mentioned in subrule (4)—

        (a)     the administrator may file an affidavit, made after the end of that period, in support of the originating or interlocutory process seeking the order stating—

              (i)     the date, or dates, when the notice and affidavit required to be served under subrule (3) were served; and

              (ii)     that the administrator has not received any notice of objection to the remuneration claimed within the period mentioned in subrule (4); and

        (b)     the administrator may endorse the originating or interlocutory process with a request that the application be dealt with in the absence of the public and without any attendance by, or on behalf of, the administrator; and

        (c)     the application may be so dealt with.

(6)       If the administrator receives a notice of objection within the period mentioned in subrule (4), the administrator must serve a copy of the originating or interlocutory process seeking the order on each creditor or contributory who has given a notice of objection.

(7)       An affidavit in support of the originating or interlocutory process seeking the order must—

        (a)     state the nature of the work carried out by the administrator; and

        (b)     state the amount of remuneration claimed; and

        (c)     include a summary of the receipts taken and payments made by the administrator for the period for which remuneration is claimed; and

        (d)     if the administration is continuing—give details of any matters delaying the completion of the administration.



AustLII: Copyright Policy | Disclaimers | Privacy Policy | Feedback