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CORPORATIONS ACT 2001 No. 50, 2001 - SECT 425
Court's power to fix receiver's remuneration
(1) The Court may by order fix the amount to be paid by way of remuneration to
any person who, under a power contained in an instrument, has been appointed
as receiver of property of a corporation.
(2) The power of the Court to make an order under this section:
to fixing the remuneration for any period before the making of the order or
the application for the order; and
- is exercisable even if the receiver has died, or ceased to act, before the
making of the order or the application for the order; and
- if the receiver has been paid or has retained for the receiver's
remuneration for any period before the making of the order any amount in
excess of that fixed for that periodextends to requiring the receiver or
the receiver's personal representatives to account for the excess or such part
of the excess as is specified in the order.
(3) The power conferred by paragraph (2)(c) must not be exercised in
respect of any period before the making of the application for the order
unless, in the opinion of the Court, there are special circumstances making it
proper for the power to be so exercised.
(4) The Court may from time to time vary or amend an order under this section.
(5) An order under this section may be made, varied or amended on the
- a liquidator of the corporation; or
- an administrator of the corporation; or
- an administrator of a deed of company arrangement executed by the
(6) An order under this section may be varied or amended on the application of
the receiver concerned.
(7) An order under this section may be made, varied or amended only as
provided in subsections (5) and (6).
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