Document ID: chunk:federal_register_of_legislation:C2016A00011:schedule:2:p31
Version: federal_register_of_legislation:C2016A00011
Segment Type: schedule
Provision Reference: sch 2 (pt 31/71)
Character Range: 299734–302617

2016—$5,000;
 (b) if the external administrator is appointed in relation to the external administration of the company during a financial year beginning on or after 1 July 2017—the greater of:
 (i) the amount worked out by multiplying the indexation factor for the financial year (worked out under subsections (3) and (4)) by the maximum default amount for an external administrator appointed during the previous financial year; and
 (ii) the amount (if any) prescribed for the purposes of this subparagraph.

Rounding
 (2) Amounts worked out under subsection (1) must be rounded to the nearest whole dollar (rounding 50 cents upwards).

Indexation factor
 (3) Subject to subsection (4), the indexation factor for a financial year is the number worked out by dividing the index number for the March quarter immediately preceding that financial year by the index number for the March quarter immediately preceding that first‑mentioned March quarter.
 (4) If an indexation factor worked out under subsection (3) would be less than 1, the indexation factor is to be increased to 1.

Changes to CPI index reference period and publication of substituted index numbers
 (5) In working out the indexation factor:
 (a) use only the index numbers published in terms of the most recently published index reference period for the Consumer Price Index; and
 (b) disregard index numbers published in substitution for previously published index numbers (except where the substituted numbers are published to take account of changes in the index reference period).

Definition—index number
 (6) In this section:
index number, in relation to a quarter, means the All Groups Consumer Price Index number, being the weighted average of the 8 capital cities, published by the Australian Statistician in respect of that quarter.

Subdivision C—Remuneration of provisional liquidators

60‑16  Remuneration of provisional liquidators
 (1) A provisional liquidator is entitled to receive such remuneration, by way of percentage or otherwise, as is:
 (a) determined by the Court; or
 (b) if:
 (i) no determination by the Court is in force; and
 (ii) there is a committee of inspection;
  determined by agreement between the liquidator and the committee of inspection; or
 (c) if:
 (i) no determination by the Court is in force; and
 (ii) there is no committee of inspection or the liquidator and the committee of inspection fail to agree;
  determined by resolution of the creditors.
 (2) Sections 60‑11 and 60‑12 (Court review) apply in relation to a determination mentioned in this section in the same way as they apply to a remuneration determination made under section 60‑10.

Subdivision D—Remuneration of liquidators in winding up by ASIC

60‑17  Remuneration of liquidators in winding up by ASIC
  If ASIC orders under section 489EA that a company be wound up, ASIC may determine the remuneration that