Cap. 6:07
No. 7/2018
INSOLVENCY
ITEM 2: REMUNERATION OF INTERIM LIQUIDATOR (Section 79(9))
A reasonable remuneration, to be determined by the Master, not to exceed the rate of
remuneration of a liquidator under this tariff.
ITEM 3: REMUNERATION OF CORPORATE RESCUE PRACTITIONER
(Section 136(1))
(I)
The basic remuneration of a business rescue practitioner, to be determined by the
Minister from time to time and published by way of notice in the Gazette.
(2)
Paragraph (I) does not apply to, limit or restrict any 'further remuneration' for a
business rescue practitioner, as contemplated in section 136(2) to (4).
(3)
In addition to the remuneration in paragraphs (I) and (2), a practitioner is enti tied
to be reimbursed for the actual cost of any disbursement made by the practitioner,
or expenses incurred by the practitioner to the extent reasonably necessary to
carry out the practitioner's functions and facilitate the conduct of the company's
corporate rescue proceedings.
TARIFFB
MASTER'S FEES OF OFFICE (Sections SS(l)(b) and 192)
(1) On the gross assets, including income and any security taken over
by a creditor, dealt with in any liquidation account in respect of
an insolvent debtor being liquidated by the court or voluntarily by
resolution, a fee of2 per centum of the gross proceeds or gross value
of such assets: Provided that, where a debtor has been placed under
judicial management or corporate rescue and is thereafter wound up,
the fee shall be reduced to I 'h per centum.
(2) On the gross assets, including income, dealt with in any liquidation
account in respect of a solvent debtor being wound up voluntarily,
a fee of 'h per centum of the gross proceeds or gross value of such
assets.
(3) On the gross value of assets owned by a debtor which has been
placed under judicial management or corporate rescue, a fee of 'h
per centum of such gross value, which value shall be determined by
the Master by reference to the reports or other information which
the judicial manager or corporate rescue practitioner is required to
submit to the Master.
(4) For every report prepared by the Master, such fee as the Master may
fix, taking into account the length and complexity of the reportMinimum
$4
Maximum
$40
(5) Inspection of documents in respect of one debtor by a person other
than the liquidator, judicial manager or corporate rescue practitioner $I
of that company or by the agent of such liquidator, judicial manager
or corporate rescue practitioner.
( 6) Making
(a) by
(b) by
(c) by
a copy of any document, per page~-photostatic means;
original type;
duplicated or printed copy type.
50 cents
$1
25 cents
(7) Supplying, upon request, transcripts of shotihand notes and of
documents in respect of any examination under the Act, per page or
part thereof(a) for the first copy supplied to any party
$1
(b) for the second and subsequent copies made at the same time
and supplied to the same party
25 cents
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