60‑5 Circumstances in which the Inspecto60‑5 Circumstances in which the Inspector‑General may determine remuneration

60‑5 Circumstances in which the Inspector‑General may determine remuneration

The Inspector‑General may make a determination specifying remuneration that a trustee of a regulated debtor’s estate is entitled to receive for necessary work properly performed by the trustee in relation to the administration of the estate if: (a) an application by the trustee is properly made by the trustee for the remuneration to be determined by the Inspector‑General; and (b) the remuneration has not been determined by the creditors under section 60‑10 of the Insolvency Practice Schedule (Bankruptcy) because: (i) the creditors have rejected, or failed to vote, on a proposal to determine the remuneration; or (ii) it is not cost effective to seek a determination by the creditors specifying the remuneration of the trustee under section 60‑10 of the Insolvency Practice Schedule (Bankruptcy); or (iii) it is not practicable to seek a determination by the creditors specifying the remuneration of the trustee under section 60‑10 of the Insolvency Practice Schedule (Bankruptcy); and (c) the remuneration has not been determined by a committee of inspection under section 60‑10 of the Insolvency Practice Schedule (Bankruptcy) because: (i) the committee has rejected, or failed to vote, on a proposal to determine the remuneration; or (ii) it is not cost effective to seek a determination by the committee specifying the remuneration of the trustee under section 60‑10 of the Insolvency Practice Schedule (Bankruptcy); or (iii) it is not practicable to seek a determination by the committee specifying the remuneration of the trustee under section 60‑10 of the Insolvency Practice Schedule (Bankruptcy).