Commonwealth Consolidated Regulations Commonwealth Consolidated Regulations(1) This rule applies in relation to an application for a determination under paragraph 60 - 10(1)(c) or (2)(b) of the Insolvency Practice Schedule (Corporations) specifying remuneration that an external administrator of a company is entitled to receive for necessary work properly performed by the external administrator in relation to the external administration.
Note: Section 60 - 10 of the Insolvency Practice Schedule (Corporations) does not apply in relation to the remuneration of a provisional liquidator or a liquidator appointed by ASIC under section 489EC of the Corporations Act: see section 60 - 2 of the Insolvency Practice Schedule (Corporations).
(2) At least 21 days before filing an originating process, or interlocutory process, seeking the determination, the external administrator must serve a notice in accordance with Form 16 of the external administrator's intention to apply for the determination, and a copy of any affidavit on which the external administrator intends to rely, on the following persons:
(a) each creditor who was present, in person or by proxy, at any meeting of creditors;
(b) each member of any committee of inspection;
(c) if there is no committee of inspection, and no meeting of creditors has been convened and held--each of the 5 largest (measured by amount of debt) creditors of the company;
(d) each member of the company whose shareholding represents at least 10% of the issued capital of the company.
(3) Within 21 days after the last service of the documents mentioned in subrule (2), any creditor or contributory may give to the external administrator a notice of objection to the remuneration claimed, stating the grounds of objection.
(4) If the external administrator does not receive a notice of objection within the period mentioned in subrule (3):
(a) the external administrator may file an affidavit, made after the end of that period, in support of the originating process, or interlocutory process, seeking the determination stating:
(i) the date, or dates, when the notice and affidavit required to be served under subrule (2) were served; and
(ii) that the external administrator has not received any notice of objection to the remuneration claimed within the period mentioned in subrule (3); and
(b) the external administrator may endorse the originating process, or interlocutory process, with a request that the application be dealt with in the absence of the public and without any attendance by, or on behalf of, the external administrator; and
(c) the application may be so dealt with.
(5) If the external administrator receives a notice of objection within the period mentioned in subrule (3), the external administrator must serve a copy of the originating process, or interlocutory process, seeking the determination on each creditor or contributory who has given a notice of objection.
(6) An affidavit in support of the originating process, or interlocutory process, seeking the determination must:
(a) include evidence of the matters mentioned in section 60 - 12 of the Insolvency Practice Schedule (Corporations); and
(b) state the nature of the work performed or likely to be performed by the external administrator; and
(c) state the amount of remuneration claimed; and
(d) include a summary of the receipts taken and payments made by the external administrator; and
(e) state particulars of any objection of which the external administrator has received notice; and
(f) if the external administration is continuing--give details of any matters delaying the completion of the external administration.