The Water Industry (Special Administration) (England and Wales) Rules 2024

Remuneration: application to the court to fix the basis (rule 18.23)

147.  Rule 18.23 has effect as if for that rule there were substituted—

“Remuneration: application to the court to fix the basis

18.23.— (1) The special administrator’s remuneration must, on the special administrator’s application, be fixed by the court.

(2) The special administrator must give at least 14 days’ notice of the application made under paragraph (1) to the following, who may appear or be represented—

(a) the relevant authority;

(b) the Water Services Regulation Authority; and

(c) the creditors of the company.

(3) In fixing the remuneration, the court must have regard to the following matters—

(a) the complexity (or otherwise) of the case;

(b) any respects in which, in connection with a company’s affairs, there falls on the special administrator any responsibility of an exceptional kind or degree;

(c) the effectiveness with which the special administrator appears to be carrying out, or to have carried out, the special administrator’s duties; and

(d) the value and nature of the property with which the special administrator has had to deal.”.