128Remuneration of receivers and managers

128 Remuneration of receivers and managers

(1)  A receiver or manager appointed under this Division is to be paid by way of remuneration and in repayment of any cost incurred by him or her –

(a) such amount as is agreed with the Board; or

(b) failing agreement, such amount as is determined by a magistrate on application by either the Board or the receiver or manager.

(2)  The amount agreed or determined in accordance with subsection (1) is to be paid by the Trust from the Guarantee Fund.

(3)  That amount may be recovered by the Trust from the property agent as a debt due to the Trust.