Document ID: chunk:federal_register_of_legislation:C2007A00132:clause:1_29
Version: federal_register_of_legislation:C2007A00132
Segment Type: clause
Provision Reference: sch 1 cl 29
Character Range: 35953–36798

29  After subsection 473(4)
Insert:

 (4A) If:
 (a) no remuneration has been fixed under paragraph (3)(a) or (b); and
 (b) a meeting of the company's creditors is convened; and
 (c) a resolution under subparagraph (3)(b)(i) cannot be passed because of the lack of a quorum; and
 (d) there has been no previous application of this subsection to the remuneration of the liquidator;
the creditors are taken to have passed a resolution under subparagraph (3)(b)(i) determining that the liquidator is entitled to remuneration of:
 (e) whichever is the greater of the following amounts:
 (i) $5,000;
 (ii) if an amount is specified in regulations for the purposes of this subparagraph—that amount; or
 (f) if the liquidator determines a lesser amount—that lesser amount.

 (4B) Subsection (4A) does not limit the Court's powers under subsection (6).