Australian Capital Territory Numbered Regulations

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CORPORATIONS LAW RULES 2000 (2000 NO 16) - REG 62

Remuneration of liquidator (s 473 (3) of the Law)—form 16

(1)       This rule applies to an application by a liquidator of a company for an order under subsection 473 (3) of the Law determining the liquidator's remuneration.

(2)       The application—

        (a)     must be made by interlocutory process in the winding-up proceeding; and

        (b)     must not be made until after the end of 28 days after the date of the meeting of creditors mentioned in subsection 473 (4) of the Law.

(3)       At least 21 days before filing the interlocutory process seeking the order, the liquidator must serve a notice in accordance with form 16 of the liquidator's intention to apply for the order, and a copy of any affidavit on which the liquidator 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 liquidator a notice of objection to the remuneration claimed, stating the grounds of objection.

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

        (a)     the liquidator may file an affidavit, made after the end of that period, in support of the 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 liquidator has not received any notice of objection to the remuneration claimed within the period mentioned in subrule (4); and

        (b)     the liquidator may endorse the 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 liquidator; and

        (c)     the application may be so dealt with.

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

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

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

        (b)     state the amount of remuneration claimed; and

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

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



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