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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 13 March 2018 - onwards
Version 3 of 3

Rule 25 Remuneration of liquidator carrying on long-term business

(1) So long as no stop order has been made in relation to a company carrying on long-term business, the liquidator is entitled to receive remuneration for his services as such in relation to the carrying on of that business provided for in this rule.

(2) The remuneration shall be fixed by the liquidation committee by reference to the time properly given by the liquidator and his staff in attending to matters arising in the winding up.

(3) If there is no liquidation committee or the committee does not make the requisite determination, the liquidator's remuneration may be fixed (in accordance with paragraph (2)) by decision of the creditors made by a qualifying decision procedure.

(4) If not fixed as above, the liquidator's remuneration shall be in accordance with the scale laid down for the Official Receiver by the general regulations.

(5) If the liquidator's remuneration has been fixed by the liquidation committee, and the liquidator considers the amount to be insufficient, he may request that it be increased by resolution of the creditors.