THE CORPORATIONS LAW

CCH Note: Part 13 of the Corporations Act 1989, inserted by sec 6 of No 110 of 1990, Sch 1 (effective 1 January 1991), begins as follows:

PART 13 - THE CORPORATIONS LAW

THE CORPORATIONS LAW   82 

The Corporations Law is as follows:...

CHAPTER 5 - EXTERNAL ADMINISTRATION

PART 5.3A - ADMINISTRATION OF A COMPANY'S AFFAIRS WITH A VIEW TO EXECUTING A DEED OF COMPANY ARRANGEMENT

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Pt 5.3A inserted by No 210 of 1992, s 56 (effective 23 June 1993).

Division 15 - Removal, replacement and remuneration of administrator

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Heading inserted by No 210 of 1992, s 56 (effective 23 June 1993).

SECTION 449E   REMUNERATION OF ADMINISTRATOR  

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449E(1)  [Administrator's entitlement to remuneration]  

The administrator of a company under administration, or of a deed of company arrangement, is entitled to:

(a)  such remuneration as is fixed by a resolution of the company's creditors passed at a meeting convened under section 439A, or under section 439A or 445F, as the case may be; or

(b)  if no remuneration is so fixed - such remuneration as the Court fixes on the application of the administrator.

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S 449E(1) inserted by No 210 of 1992, s 56 (effective 23 June 1993).

449E(2)  [Power of Court to vary remuneration]  

Where remuneration is fixed under paragraph (1)(a), the Court may, on the application of the administrator or of an officer, member or creditor of the company:

(a)  review the remuneration; and

(b)  confirm, increase or reduce it.

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S 449E(2) inserted by No 210 of 1992, s 56 (effective 23 June 1993).

449E(3)  [Sec 437C]  

Subsection (2) has effect despite section 437C.

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History

S 449E(3) inserted by No 210 of 1992, s 56 (effective 23 June 1993).

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