Paragraph 20 Amendment of Rule 2.47

For paragraph (7) of Rule 2.47 there shall be substituted the following:—

“(7)

Where there are joint administrators, it is for them to agree between themselves as to how the remuneration payable should be apportioned. Any dispute arising between them may be referred—

(a)

to the court, for settlement by order, or

(b)

to the creditors' committee or a meeting of creditors, for settlement by resolution.

(8)

If the administrator is a solicitor and employs his own firm, or any partner in it, to act on behalf of the company, profit costs shall not be paid unless this is authorised by the creditors' committee, the creditors or the court.”.