SUPREME COURT (CORPORATIONS) RULES 20032003 No. 284- RULE 9.3 Remuneration of provisional liquidator (Corporations Act, s 473 (2))

Commonwealth Numbered Regulations

Remuneration of provisional liquidator (Corporations Act, s 473 (2))—form 16

(1): This rule applies to an application by a provisional liquidator of a company for an order under the Corporations Act, section 473 (2) determining the provisional liquidator's remuneration.

(2): The application must be made by interlocutory process in the winding-up proceeding.
(3): At least 21 days before filing the interlocutory process seeking the order, the provisional liquidator must serve a notice in accordance with form 16 of the provisional liquidator's intention to apply for the order, and a copy of any affidavit on which the provisional liquidator intends to rely, on the following:

(a): any liquidator (except the provisional liquidator) of the company;
(b): each member of any committee of creditors or, if there is no committee of creditors, each of the 5 largest (measured by amount of debt) creditors of the company;
(c): each member of the company whose shareholding represents at least 10 % of the issued capital of the company.

(4): Within 21 days after the last service of the documents mentioned in subrule (3), the liquidator, or any creditor or contributory, may give to the provisional liquidator a notice of objection to the remuneration claimed, stating the grounds of objection.
(5): If the provisional liquidator does not receive a notice of objection within the period mentioned in subrule (4)—

(a): the provisional liquidator may file an affidavit, made after the end of that period, in support of the interlocutory process seeking the order stating—

(i): the date, or dates, when the notice and affidavit required to be served under subrule (3) were served; and
(ii): that the provisional liquidator has not received any notice of objection to the remuneration claimed within the period mentioned in subrule (4); and

(b): the provisional liquidator may endorse the 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 provisional liquidator; and
(c): the application may be so dealt with.

(6): If the provisional liquidator receives a notice of objection within the period mentioned in subrule (4), the provisional liquidator must serve a copy of the interlocutory process seeking the order—

(a): on each creditor or contributory who has given a notice of objection; and
(b): on the liquidator (if any).

(7): An affidavit in support of the interlocutory process seeking the order must—

(a): state the nature of the work carried out by the provisional liquidator; and
(b): state the amount of remuneration claimed; and
(c): include a summary of the receipts taken and payments made by the provisional liquidator for the period for which remuneration is claimed; and
(d): state particulars of any objection of which the provisional liquidator has received notice; and
(e): if the winding-up proceeding has not been completed—give details of—

(i): any reasons known to the provisional liquidator why the winding-up proceeding has not been completed; and
(ii): any reasons why the provisional liquidator's remuneration should be determined before the completion of the winding-up proceeding.

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