7.—(1) Rule 4.127 (fixing of remuneration) of the 1986 Rules is amended as follows.
(2) In paragraph (2)(b) after “arising in the winding up” add “as set out in the fees estimate”.
(3) After paragraph (2) insert—
“(2A) Where the liquidator proposes to take all or any part of the remuneration on the basis set out in paragraph (2)(b), the liquidator must, prior to the determination of which of the bases set out in paragraph (2) are to be fixed, give to each creditor of the company of whose claim and address the liquidator is aware—
(a)the fees estimate, and
(b)details of the expenses the liquidator considers will be, or are likely to be, incurred.
(2B) Save where the liquidator has given the information under paragraph (2A), the liquidator must, prior to the determination of which of the bases set out in paragraph (2) are to be fixed, give to each creditor of the company of whose claim and address the liquidator is aware, details of—
(a)the work the liquidator proposes to undertake, and
(b)the expenses the liquidator considers will, or are likely to be, incurred.”.