PART 8E+WTHE ENERGY ADMINISTRATOR
Fixing of remunerationE+W
74.—(1) The energy administrator is entitled to receive remuneration for his services as such.
(2) The remuneration shall be fixed by reference to the time properly given by the insolvency practitioner (as energy administrator) and his staff in attending to matters arising in the energy administration.
(3) The remuneration of the energy administrator shall be fixed by the court and the energy administrator shall make an application to court accordingly.
(4) The energy administrator shall give at least 14 days' notice of his application to the following, who may appear or be represented—
(a)the Secretary of State;
(b)GEMA; and
(c)the creditors of the protected energy company.
(5) In fixing the remuneration, the court shall have regard to the following matters—
(a)the complexity (or otherwise) of the case;
(b)any respects in which, in connection with the protected energy company’s affairs, there falls on the energy administrator any responsibility of an exceptional kind or degree;
(c)the effectiveness with which the energy administrator appears to be carrying out, or to have carried out, his duties as such; and
(d)the value and nature of the property with which he has to deal.
(6) Where there are joint energy administrators, it is for them to agree between themselves as to how the remuneration payable should be apportioned. Any dispute arising between them may be referred to the court for settlement by order.
(7) If the energy administrator is a solicitor and employs his own firm, or any partner in it, to act on behalf of the protected energy company, profit costs shall not be paid unless this is authorised by the court.
Commencement Information
I1Rule 74 in force at 1.10.2005, see rule 1