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Rule 2.63 Expenses of membersF1

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

  • rule 2.63(1) words inserted by Insolvency 2010 Sch. 1 para. 74(2)
  • rule 4.54(5-CVL) substituted for rule 4.54(5) by Insolvency 2010 Sch. 1 para. 179(5)
(1)

Subject as follows, the administrator shall, out of the assets of the company, defray any reasonable travelling expenses directly incurred by members of the creditors' committee or their representatives in relation to their attendance at the committee’s meetings, or otherwise on the committee’s business, as an expense of the administration.

(2)

Paragraph (1) does not apply to any meeting of the committee held within 6 weeks of a previous meeting, unless the meeting in question is summoned at the instance of the administrator.

Annotations

Textual amendments

F1

Pt. 2 substituted (15.9.2003) by The Insolvency (Amendment) Rules 2003 (S.I. 2003/1730), rule 1(2), Sch. 1 para. 9 (with rule 5(2)-(4))