Regulation 7 Substitution of regulation 35 of the principal Regulations

For regulation 35 there is substituted—

“Official receiver’s general remuneration while acting as interim receiver, provisional liquidator, liquidator or trustee

35.

(1)

The official receiver shall be entitled to remuneration calculated in accordance with the applicable hourly rates set out in paragraph (2) for services provided by him (or any of his officers) in relation to—

(a)

a distribution made by him when acting as liquidator or trustee to creditors (including preferential or secured creditors or both such classes of creditor);

(b)

the realisation of assets on behalf of the holder of a fixed or floating charge or both types of those charges;

(c)

the supervision of a special manager;

(d)

the performance by him of any functions where he acts as provisional liquidator; or

(e)

the performance by him of any functions where he acts as an interim receiver.

(2)

The applicable hourly rates referred to in paragraph (1) are—

(a)

in relation to the official receiver of the London insolvency district, those set out in Table 2 in Schedule 2; and

(b)

in relation to any other official receiver, those set out in Table 3 in Schedule 2.”.