This is the original version (as it was originally made).
18.26.—(1) This exception applies in an administration where—
(a)the basis of the administrator’s remuneration has been fixed by the committee; and
(b)the administrator has made a statement under paragraph 52(1)(b) of Schedule B1.
(2) A request by the administrator for an increase in the rate or amount of remuneration or a change in the basis must be approved by—
(a)the consent of each of the secured creditors; or
(b)if the administrator has made or intends to make a distribution to preferential creditors—
(i)the consent of each of the secured creditors, and
(ii)a decision of the preferential creditors in a decision procedure.
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