The Insolvency (Amendment) Rules 1987

Amendment of Rule 4.30

43.—(1) In paragraph (3) of Rule 4.30 for the words from the beginning to “accordingly)” there shall be substituted the words:—

• “Without prejudice to any order the court may make as to costs, the provisional liquidator’s remuneration (whether the official receiver or another) shall be paid to him, and the amount of any expenses incurred by him (including the remuneration and expenses of any special manager appointed under section 177) reimbursed—

  (a)

  if a winding-up order is not made, out of the property of the company”.

(2) After paragraph (3) of Rule 4.30 there shall be inserted the following paragraph:—

“(3A) Unless the court otherwise directs, in a case falling within paragraph (3)(a) above the provisional liquidator may retain out of the company’s property such sums or property as are or may be required for meeting his remuneration and expenses.”.