PART 10Claims, dividends and distribution etc.

Procedure after end of accounting period

133Audit of accounts and determination as to outlays and remuneration payable to trustee

(1)Within 6 weeks after the end of an accounting period—

(a)the commissioners (or, as the case may be, AiB)—

(i)may audit the accounts, and

(ii)must issue a determination fixing the amount of the outlays and the remuneration payable to the trustee in the sequestration, and

(b)the trustee must make the audited accounts, scheme of division and that determination available for inspection by the debtor and the creditors.

(2)The basis for fixing the amount of the remuneration payable to the trustee may be a commission calculated by reference to the value of the debtor’s estate which has been realised by the trustee.

(3)But there is in any event to be taken into account—

(a)the work which, having regard to that value, was reasonably undertaken by the trustee, and

(b)the extent of the trustee’s responsibilities in administering the debtor’s estate.

(4)In fixing the amount of such remuneration in respect of any accounting period, the commissioners (or, as the case may be, AiB) may take into account any adjustment which the commissioners or AiB may wish to make in the amount of remuneration fixed in respect of any earlier accounting period.