Bankruptcy Act 1966
Note: See section 4A .
PART 3 - GENERAL RULES RELATING TO ESTATE ADMINISTRATIONS
View history note
Hide history noteManner in which remuneration may be specified
60-12(1)
A determination under section 60-10 or 60-11 may specify remuneration that the trustee is entitled to receive in either or both of the following ways: (a) by specifying an amount of remuneration; (b) by specifying a method for working out an amount of remuneration.
Remuneration on a time-cost basis
60-12(2)
If a determination under section 60-10 or 60-11 specifies that the trustee is entitled to receive remuneration worked out wholly or partly on a time-cost basis, the determination must include a cap on the amount of remuneration worked out on a time-cost basis that the trustee is entitled to receive.
Remuneration on a percentage basis
60-12(3)
If a determination under section 60-10 or 60-11 specifies that the trustee is entitled to receive remuneration worked out wholly or partly on the basis of a specified percentage of money received by the trustee in respect of the regulated debtor ' s estate: (a) the determination must specify the money to which the specified percentage applies; and (b) the specified percentage must not be greater than the percentage prescribed for the purposes of this paragraph.
More than one remuneration determination may be made
60-12(4)
To avoid doubt, more than one determination under section 60-10 or 60-11 may be made in relation to a particular trustee and a particular regulated debtor ' s estate.
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