7.28.—(1) Wherever under the Rules any person has to appoint, or certify the appointment of, an insolvency practitioner to any office, he is under a duty to satisfy himself that the person appointed or to be appointed has caution for the proper performance of his functions.
(2) It is the duty -
(a)of the creditors' committee in administration or in receivership,
(b)of the liquidation committee in companies winding up, and
(c)of any committee of creditors established for the purposes of a voluntary arrangement under Part I of the Act,
to review from time to time the adequacy of the responsible insolvency practitioner's caution.
(3) In any insolvency proceedings the cost of the responsible insolvency practitioner's caution shall be paid as an expense of the proceedings.