Bankruptcy Act 1966

SCHEDULE 2 - INSOLVENCY PRACTICE SCHEDULE (BANKRUPTCY)  

Note: See section 4A .

PART 3 - GENERAL RULES RELATING TO ESTATE ADMINISTRATIONS  

Division 90 - Review of the administration of a regulated debtor ' s estate  

Subdivision C - Review by Inspector-General  

SECTION 90-21   REVIEW BY INSPECTOR-GENERAL  

90-21(1)    
The Inspector-General may carry out a review of the remuneration received by the trustee of a regulated debtor ' s estate for services performed by the trustee in relation to the administration of the estate.

90-21(2)    
The Inspector-General may carry out a review under this Subdivision:

(a)    on his or her own initiative; or

(b)    on application by the regulated debtor or a creditor.

90-21(3)    
The trustee, the regulated debtor or a creditor of the regulated debtor may apply to the Court for an order in relation to a decision of the Inspector-General in relation to the review.

90-21(4)    
In making an order under subsection (3) , the Court must have regard to whether the remuneration received by the trustee is reasonable, taking into account any or all of the following matters:

(a)    the extent to which the work by the trustee was necessary and properly performed;

(b)    the extent to which the work likely to be performed by the trustee is likely to be necessary and properly performed;

(c)    the period during which the work was, or is likely to be, performed by the trustee;

(d)    the quality of the work performed, or likely to be performed, by the trustee;

(e)    the complexity (or otherwise) of the work performed, or likely to be performed, by the trustee;

(f)    the extent (if any) to which the trustee was, or is likely to be, required to deal with extraordinary issues;

(g)    the extent (if any) to which the trustee was, or is likely to be, required to accept a higher level of risk or responsibility than is usually the case;

(h)    the value and nature of any property dealt with, or likely to be dealt with, by the trustee;

(i)    the number, attributes and conduct, or the likely number, attributes and conduct, of the creditors;

(j)    if the remuneration is worked out wholly or partly on a time-cost basis - the time properly taken, or likely to be properly taken, by the trustee in performing the work;

(k)    any other relevant matters.