175Remuneration of administrators

175 Remuneration of administrators

(1) An administrator (other than a person who carries on a business of, or including, the administration of estates) is not entitled to receive any fee, remuneration or other reward from the estate of a represented person or missing person for acting as administrator unless VCAT otherwise specifies in the administration order or administration (missing person) order, as the case requires*.*

(2) Remuneration to which an administrator who carries on a business of, or including, the administration of estates is entitled must be—

(a) in accordance with a scale in relation to remuneration for administrators that is fixed by rules made under the VCAT Act; or

(b) as determined by VCAT.

(3) Despite subsection (2), remuneration determined by VCAT in relation to a licensed trustee company (within the meaning of section 601RAA of the Corporations Act) must not exceed the limit on fees that may be charged by a licensed trustee company under Chapter 5D of the Corporations Act.

(4) VCAT may request an administrator to provide VCAT with any account in the administrator's custody in relation to dealings and transactions relating to the financial matters specified in the administration order or administration (missing person) order (as the case requires) for the purpose of examining those accounts and determining whether the administrator has complied with the requirements of this Act, any order made by VCAT or any approval or specification made by VCAT in relation to remuneration under this section.

(5) VCAT may require by order an administrator to pay to the estate of the represented person or missing person any remuneration or other reward paid or deducted from the estate which VCAT specifies.