Paragraph 21 Substitution of Part 5

For Part 5 there shall be substituted—

“PART 5

REMUNERATION OF OFFICIAL RECEIVER

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

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The official receiver shall be entitled to remuneration calculated in accordance with the applicable hourly rates set out in Schedule 1 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.”.