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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 1 June 2015 - onwards
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647. Liquidator's entitlement to receive payment where entitlement to remuneration exists

(1) This section -

(a) applies where the liquidator's entitlement to remuneration exists by virtue of the terms in respect thereof having been agreed, fixed or otherwise set in the manner specified in section 646, and

(b) is subject to section 648.

(2) A liquidator shall be entitled to receive payment in respect of his or her remuneration (whether for the entire or any portion of his or her services in the winding up, or by way of a payment on account) provided the amount sought to be received in that behalf has -

(a) where there is a committee of inspection, been approved by the committee of inspection, or

(b) in a winding up by the court or a creditors' voluntary winding up, where -

(i) there is no committee of inspection, or

(ii) the committee of inspection does not approve the amount,

been approved by resolution of the creditors, or

(c) in a members' voluntary winding up, been approved by resolution of the members of the company in general meeting, or

(d) where the creditors or mem

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