Prospective
(1)A judicial factor may be remunerated from the factory estate for carrying out the functions of judicial factor.
(2)The Accountant must—
(a)after such consultation as appears to the Accountant to be appropriate, fix rates for the remuneration of judicial factors,
(b)after consultation with each judicial factor, determine the frequency with which that judicial factor is to be remunerated.
(3)Different rates may be fixed—
(a)for different kinds of work,
(b)for different circumstances,
(c)in relation to interim judicial factors.
(4)The Accountant must review the rates fixed under subsection (2)(a)—
(a)before the expiry of the period of 1 year beginning with the date on which they are fixed, and
(b)thereafter, from time to time (but in each case no later than the expiry of the period of 1 year beginning with the date of the previous review).
(5)The Accountant may fix a rate of remuneration for a particular judicial factor other than by virtue of subsections (2) to (4).
(6)A judicial factor may appeal to the court which appointed the judicial factor in respect of—
(a)the amount of the remuneration paid to the judicial factor,
(b)a determination of the Accountant under subsection (2)(b).
(7)The decision of the court in an appeal to it under subsection (6) is final and is conclusive against both the Accountant and the judicial factor.
(8)A judicial factor may be reimbursed for any outlays reasonably incurred in the carrying out of the functions of judicial factor—
(a)from the factory estate,
(b)as and when those outlays are incurred.
Commencement Information
I1S. 11 not in force at Royal Assent, see s. 54(2)