Insolvency Act · 2022 Revised Edition · Part 3
26. Power of Court to fix remuneration of receivers or managers
Official textFrom Attorney General's Chambers, unchanged
The Court may, on application by the liquidator of a company, by order fix the amount to be paid by way of remuneration to any person who, under the powers contained in any instrument, has been appointed as receiver or manager of the property of the company or of the property in Brunei
Court
“Court”, in relation to a company, means a court having jurisdiction to wind up the company;
Darussalam of any other corporation.
The power of the Court shall, where no previous order has been made with respect thereto —
extend to the fixing of the remuneration for any period before the making of the order or the application for the order;
be exercisable notwithstanding that the receiver or manager has died or ceased to act before the making of the order or the application for the order; and
where the receiver or manager has been paid or has retained for his remuneration for any period before the making of the order any amount in excess of that fixed for that period, extend to requiring him or his personal representatives to account for the excess or such part thereof as may be specified in the order.
The power conferred by subsection (2)(c) shall not be exercised as respects 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.
The Court may, on an application made by the liquidator or by the receiver or manager, amend an order made under this section.
Duties and liabilities
Terms defined in s 3
company
Defined · s 3“company” means a company incorporated or registered under the Companies Act;
Court
Defined · s 3“Court”, in relation to a company, means a court having jurisdiction to wind up the company;
property
Defined · s 3“property”, in relation to a company, includes money, goods, things in action and every description of property, whether real or personal, and whether in Brunei Darussalam or elsewhere, and also obligations and every description of interest whether present or future or vested or contingent arising out of, or incidental to, property.
Part
Judicial Management
Part
Winding Up of Companies Registered Under Companies Act
Chapter I
Chapter II
Chapter III
Chapter IV
Chapter V
Chapter VI
Chapter VII
Chapter VIII
Chapter IX
Chapter X
Part