CTHRepealedAct
Bankruptcy Act 1924
Trustee’s remuneration.Trustee’s remuneration.
Start here
Get a plain-English read of Trustee’s remuneration.
Turn the raw legal text into a practical explanation grounded in Bankruptcy Act 1924.
### Trustee’s remuneration.
203.—(1.) The remuneration of a trustee of a deed of arrangement shall from time to time be fixed as determined by the creditors, and shall be such a sum of money as is fixed by the creditors or shall be in the nature of a commission, the commission not to exceed—
(a) Five pounds per centum on the amount realized by the trustee after the deduction of the expenses of realization, subject to the creditors, by resolution, fixing a higher commission on the collection of book debts; or
(b) where the trustee carries on the business of the debtor, one pound per centum on the turnover of the capital of the business.
(2.) Where two or more trustees act in succession the commission shall be apportioned in such manner as the creditors determine.
###