2. Remuneration: principles

(1) An administrator or liquidator (including in a members' voluntary winding-up) is entitled to receive remuneration for services as Office-holder.
(2) The basis of remuneration must be fixed —
(a) as a percentage of the value of —
(i) the property with which the administrator has to deal; or
(ii) the assets which are realised, distributed or both realised and distributed by the administrator or liquidator;
(b) by reference to the time properly given by the Office-holder and the Office-holder's staff in attending to matters arising in the administration, in connection with the Deed of Company Arrangement or winding-up; or
(c) as a set amount;
or any combination of them; and different bases may be fixed in respect of different things done by the Office-holder.
(3) Where the basis of remuneration is fixed as in sub-paragraph (2)(a), different percentages may be fixed in respect of different things done by the Office-holder.
(4) The matters to be determined in fixing the basis of remuneration are —
(a) which of the bases set out in sub-paragraph (2) are to be fixed and (where appropriate) in what combination;
(b) the percentage or percentages (if any) to be fixed under sub-paragraphs (2)(a) and (3);
(c) the amount (if any) to be set under sub-paragraph (2)(c).
(5) In arriving at that determination, regard must be had to the following matters —
(a) the complexity (or otherwise) of the case;
(b) any respects in which, in connection with the Company's affairs, there falls on the Office-holder, any responsibility of an exceptional kind or degree;
(c) the effectiveness with which the Office-holder appears to be carrying out, or to have carried out, the Office-holder's duties as such; and
(d) the value and nature of the property with which the Office-holder has to deal.
(6) If the Office-holder is a lawyer and employs the firm, or any partner in it, to act on behalf of the Company, profit costs must not be paid unless expressly authorised in the determination.