Bankruptcy Act 1966

SCHEDULE 2 - INSOLVENCY PRACTICE SCHEDULE (BANKRUPTCY)  

Note: See section 4A .

PART 3 - GENERAL RULES RELATING TO ESTATE ADMINISTRATIONS  

Division 60 - Remuneration and other benefits received by the trustee  

Subdivision B - Remuneration of trustees  

SECTION 60-5   TRUSTEE ' S REMUNERATION  

Remuneration in accordance with remuneration determinations

60-5(1)    
The trustee of a regulated debtor ' s estate is entitled to receive remuneration for necessary work properly performed by the trustee in relation to the administration of the regulated debtor ' s estate, in accordance with the remuneration determinations (if any) for the trustee (see sections 60-10 and 60-11 ).

Remuneration for trustees if no remuneration determination made

60-5(2)    
If no remuneration determination is made in relation to necessary work properly performed by a trustee in relation to the administration of the regulated debtor ' s estate, the trustee is entitled to receive reasonable remuneration for the work. However, that remuneration must not exceed the maximum default amount.

Remuneration to be paid from the funds in the estate

60-5(3)    
The remuneration is to be paid from the funds in the regulated debtor ' s estate.