sch.1A-sec.9.1Remuneration of receiver ( Corporations Act , s 425 (1) )—form 16

### sch.1A-sec.9.1 Remuneration of receiver ( Corporations Act , s 425 (1) )—form 16 This rule applies to an application by a receiver of property of a corporation for an order under the Corporations Act , section 425 (1) fixing the receiver’s remuneration. Under the Corporations Act , section 425 (2) (b) , the court may exercise its power to make an order fixing the remuneration of a receiver appointed under an instrument even if the receiver has died, or has ceased to act, before the making of the order or the application for the order. The amendment to the Corporations Act , section 425 made by the Corporations Amendment (Insolvency) Act 2007 applies in relation to a receiver appointed on or after 31 December 2007—see the Corporations Act , section 1480 (5) . At least 21 days before filing an originating application, or interlocutory application seeking the order, the receiver must serve a notice in form 16 of the receiver’s intention to apply for the order, and a copy of any affidavit on which the receiver intends to rely, on the following persons— the person who appointed the receiver; any creditor holding security over all or any of the same property of the corporation (except if the creditor is the person who appointed the receiver); any administrator, liquidator or provisional liquidator of the corporation; any administrator of a deed of company arrangement executed by the corporation; if there is no person of the kind mentioned in paragraph (c) or (d) — each of the 5 largest (measured by amount of debt) unsecured creditors of the corporation; and each member of the corporation whose shareholding represents at least 10% of the issued capital of the corporation. Within 21 days after the last service of the documents mentioned in subrule (2) , any creditor or contributory, or any person mentioned in subrule (2) (c) , (d) or (e) , may give to the receiver a notice of objection to the remuneration claimed, stating the grounds of objection. If the receiver does not receive a notice of objection within the period mentioned in subrule (3) — the receiver may file an affidavit, made after the end of that period, in support of the originating application, or interlocutory application, seeking the order stating— the date, or dates, when the notice and affidavit required to be served under subrule (2) were served; and that the receiver has not received any notice of objection to the remuneration claimed within the period mentioned in subrule (3) ; and the receiver may endorse the originating application, or interlocutory application, with a request that the application be dealt with in the absence of the public and without any attendance by, or on behalf of, the receiver; and the application may be so dealt with. If the receiver receives a notice of objection within the period mentioned in subrule (3) , the receiver must serve a copy of the originating application, or interlocutory application, seeking the order on each creditor or contributory, or other person, who has given a notice of objection. An affidavit in support of the originating application, or interlocutory application, seeking the order must— include evidence of the matters mentioned in the Corporations Act , section 425 (8) ; and state the nature of the work performed or likely to be performed by the receiver; and state the amount of remuneration claimed; and include a summary of the receipts taken and payments made by the receiver; and state particulars of any objection of which the receiver has received notice; and if the receivership is continuing—give details of any matters delaying the completion of the receivership. sch 1A r 9.1 ins 2000 SL No. 232 s 3 amd 2004 SL No. 115 s 2 sch 1 ; 2008 SL No. 303 s 2 sch (sch.1A-sec.9.1-ssec.1) This rule applies to an application by a receiver of property of a corporation for an order under the Corporations Act , section 425 (1) fixing the receiver’s remuneration. Under the Corporations Act , section 425 (2) (b) , the court may exercise its power to make an order fixing the remuneration of a receiver appointed under an instrument even if the receiver has died, or has ceased to act, before the making of the order or the application for the order. The amendment to the Corporations Act , section 425 made by the Corporations Amendment (Insolvency) Act 2007 applies in relation to a receiver appointed on or after 31 December 2007—see the Corporations Act , section 1480 (5) . (sch.1A-sec.9.1-ssec.2) At least 21 days before filing an originating application, or interlocutory application seeking the order, the receiver must serve a notice in form 16 of the receiver’s intention to apply for the order, and a copy of any affidavit on which the receiver intends to rely, on the following persons— the person who appointed the receiver; any creditor holding security over all or any of the same property of the corporation (except if the creditor is the person who appointed the receiver); any administrator, liquidator or provisional liquidator of the corporation; any administrator of a deed of company arrangement executed by the corporation; if there is no person of the kind mentioned in paragraph (c) or (d) — each of the 5 largest (measured by amount of debt) unsecured creditors of the corporation; and each member of the corporation whose shareholding represents at least 10% of the issued capital of the corporation. (sch.1A-sec.9.1-ssec.3) Within 21 days after the last service of the documents mentioned in subrule (2) , any creditor or contributory, or any person mentioned in subrule (2) (c) , (d) or (e) , may give to the receiver a notice of objection to the remuneration claimed, stating the grounds of objection. (sch.1A-sec.9.1-ssec.4) If the receiver does not receive a notice of objection within the period mentioned in subrule (3) — the receiver may file an affidavit, made after the end of that period, in support of the originating application, or interlocutory application, seeking the order stating— the date, or dates, when the notice and affidavit required to be served under subrule (2) were served; and that the receiver has not received any notice of objection to the remuneration claimed within the period mentioned in subrule (3) ; and the receiver may endorse the originating application, or interlocutory application, with a request that the application be dealt with in the absence of the public and without any attendance by, or on behalf of, the receiver; and the application may be so dealt with. (sch.1A-sec.9.1-ssec.5) If the receiver receives a notice of objection within the period mentioned in subrule (3) , the receiver must serve a copy of the originating application, or interlocutory application, seeking the order on each creditor or contributory, or other person, who has given a notice of objection. (sch.1A-sec.9.1-ssec.6) An affidavit in support of the originating application, or interlocutory application, seeking the order must— include evidence of the matters mentioned in the Corporations Act , section 425 (8) ; and state the nature of the work performed or likely to be performed by the receiver; and state the amount of remuneration claimed; and include a summary of the receipts taken and payments made by the receiver; and state particulars of any objection of which the receiver has received notice; and if the receivership is continuing—give details of any matters delaying the completion of the receivership. - 1 Under the Corporations Act , section 425 (2) (b) , the court may exercise its power to make an order fixing the remuneration of a receiver appointed under an instrument even if the receiver has died, or has ceased to act, before the making of the order or the application for the order. - 2 The amendment to the Corporations Act , section 425 made by the Corporations Amendment (Insolvency) Act 2007 applies in relation to a receiver appointed on or after 31 December 2007—see the Corporations Act , section 1480 (5) . - (a) the person who appointed the receiver; - (b) any creditor holding security over all or any of the same property of the corporation (except if the creditor is the person who appointed the receiver); - (c) any administrator, liquidator or provisional liquidator of the corporation; - (d) any administrator of a deed of company arrangement executed by the corporation; - (e) if there is no person of the kind mentioned in paragraph (c) or (d) — (i) each of the 5 largest (measured by amount of debt) unsecured creditors of the corporation; and (ii) each member of the corporation whose shareholding represents at least 10% of the issued capital of the corporation. - (i) each of the 5 largest (measured by amount of debt) unsecured creditors of the corporation; and - (ii) each member of the corporation whose shareholding represents at least 10% of the issued capital of the corporation. - (i) each of the 5 largest (measured by amount of debt) unsecured creditors of the corporation; and - (ii) each member of the corporation whose shareholding represents at least 10% of the issued capital of the corporation. - (a) the receiver may file an affidavit, made after the end of that period, in support of the originating application, or interlocutory application, seeking the order stating— (i) the date, or dates, when the notice and affidavit required to be served under subrule (2) were served; and (ii) that the receiver has not received any notice of objection to the remuneration claimed within the period mentioned in subrule (3) ; and - (i) the date, or dates, when the notice and affidavit required to be served under subrule (2) were served; and - (ii) that the receiver has not received any notice of objection to the remuneration claimed within the period mentioned in subrule (3) ; and - (b) the receiver may endorse the originating application, or interlocutory application, with a request that the application be dealt with in the absence of the public and without any attendance by, or on behalf of, the receiver; and - (c) the application may be so dealt with. - (i) the date, or dates, when the notice and affidavit required to be served under subrule (2) were served; and - (ii) that the receiver has not received any notice of objection to the remuneration claimed within the period mentioned in subrule (3) ; and - (a) include evidence of the matters mentioned in the Corporations Act , section 425 (8) ; and - (b) state the nature of the work performed or likely to be performed by the receiver; and - (c) state the amount of remuneration claimed; and - (d) include a summary of the receipts taken and payments made by the receiver; and - (e) state particulars of any objection of which the receiver has received notice; and - (f) if the receivership is continuing—give details of any matters delaying the completion of the receivership.