Document ID: chunk:federal_register_of_legislation:F2022C00672:body:0:p20
Version: federal_register_of_legislation:F2022C00672
Segment Type: other
Provision Reference: 
Character Range: 50638–53569

for the purposes of section 60‑11 of the Insolvency Practice Schedule (Bankruptcy).

60‑5  Circumstances in which the Inspector‑General may determine remuneration
  The Inspector‑General may make a determination specifying remuneration that a trustee of a regulated debtor's estate is entitled to receive for necessary work properly performed by the trustee in relation to the administration of the estate if:
 (a) an application by the trustee is properly made by the trustee for the remuneration to be determined by the Inspector‑General; and
 (b) the remuneration has not been determined by the creditors under section 60‑10 of the Insolvency Practice Schedule (Bankruptcy) because:
 (i) the creditors have rejected, or failed to vote, on a proposal to determine the remuneration; or
 (ii) it is not cost effective to seek a determination by the creditors specifying the remuneration of the trustee under section 60‑10 of the Insolvency Practice Schedule (Bankruptcy); or
 (iii) it is not practicable to seek a determination by the creditors specifying the remuneration of the trustee under section 60‑10 of the Insolvency Practice Schedule (Bankruptcy); and
 (c) the remuneration has not been determined by a committee of inspection under section 60‑10 of the Insolvency Practice Schedule (Bankruptcy) because:
 (i) the committee has rejected, or failed to vote, on a proposal to determine the remuneration; or
 (ii) it is not cost effective to seek a determination by the committee specifying the remuneration of the trustee under section 60‑10 of the Insolvency Practice Schedule (Bankruptcy); or
 (iii) it is not practicable to seek a determination by the committee specifying the remuneration of the trustee under section 60‑10 of the Insolvency Practice Schedule (Bankruptcy).

60‑10  Application to the Inspector‑General to determine remuneration
 (1) A trustee of a regulated debtor's estate may apply to the Inspector‑General to make a determination specifying remuneration that the trustee is entitled to receive for necessary work properly performed by the trustee in relation to the administration of the estate.
 (2) The application:
 (a) must be in a form approved by the Inspector‑General; and
 (b) must:
 (i) identify which of subparagraphs 60‑5(b)(i), (ii) or (iii) or (c)(i), (ii) or (iii) the applicant believes is satisfied; and
 (ii) include evidence that the relevant subparagraph is satisfied; and
 (c) must contain a single proposal about the trustee's proposed remuneration; and
 (d) must explain:
 (i) why any work already performed by the trustee was necessary; and
 (ii) why any work proposed to be performed by the trustee will be necessary; and
 (iii) why the proposed remuneration for the work, or proposed work, is appropriate for the particular administration; and
 (e) if the work was or is likely to be complex—must contain details of the complexity; and
 (f) if the work includes or is likely