OpenLegislation

Rule 3.29 Expenses of membersI1

England and Wales

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

  • rule 4.54(5-CVL) substituted for rule 4.54(5) by Insolvency 2010 Sch. 1 para. 179(5)
(1)

Subject as follows, the administrative receiver 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 receivership.

(2)

Paragraph (1) does not apply to any meeting of the committee held within 3 months of a previous meeting, unless the meeting in question is summoned at the instance of the administrative receiver.

Annotations

Commencement

I1

Rule 3.29 in force at 29.12.1986, see rule 0.1