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Version status: In force | Document consolidation status: No known changes
Version date: 3 December 2024 - onwards
Version 2 of 2

28. Amendment of section 444 of Principal Act

Section 444 of the Principal Act is amended by the insertion of the following subsection after subsection (2):

"(2A) In fixing the amount to be paid by way of remuneration to a receiver under subsection (2), the court shall take the following into account:

(a) the time properly required to be given by the person as receiver and by his or her assistants in attending to the company’s affairs;

(b) the complexity (or otherwise) of the case;

(c) any respects in which, in connection with the company’s affairs, there falls on the receiver any responsibility of an exceptional kind or degree;

(d) the effectiveness with which the receiver appears to be carrying out, or to have carried out, his or her duties;

(e) the value and nature of the property with which the receiver has to deal.".