Corporations Act 2001
SCHEDULE 2
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INSOLVENCY PRACTICE SCHEDULE (CORPORATIONS)
The Insolvency Practice Rules may provide for and in relation to:
(a) the payment by an external administrator of a company of interest at such rate, on such amount and in respect of such period as is prescribed; and
(b) disallowance of all or of such part as is prescribed of the remuneration of an external administrator of a company; and
(c) the removal from office of an external administrator of a company by the Court; and
(d) the payment by an external administrator of a company of any expenses occasioned by reason of his or her default;
Note: See section 600K .
PART 3 - GENERAL RULES RELATING TO EXTERNAL ADMINISTRATIONS Division 65 - Funds handling CLAUSE 65-50 65-50 RULES IN RELATION TO CONSEQUENCES FOR FAILURE TO COMPLY WITH THIS DIVISIONThe Insolvency Practice Rules may provide for and in relation to:
(a) the payment by an external administrator of a company of interest at such rate, on such amount and in respect of such period as is prescribed; and
(b) disallowance of all or of such part as is prescribed of the remuneration of an external administrator of a company; and
(c) the removal from office of an external administrator of a company by the Court; and
(d) the payment by an external administrator of a company of any expenses occasioned by reason of his or her default;
in cases where an external administrator contravenes or fails to comply with this Division (including Insolvency Practice Rules made under this Division).
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