Rule 4.206 Appointment and remunerationI1

An application made by the liquidator under section 177 for the appointment of a person to be special manager shall be supported by a report setting out the reasons for the application.

The report shall include the applicant's estimate of the value of the assets in respect of which the special manager is to be appointed.

This Chapter applies also with respect to an application by the provisional liquidator, where one has been appointed, and references to the liquidator are to be read accordingly as including the provisional liquidator. (NO CVL APPLICATION)

[FORM 4.60] The court's order appointing the special manager shall specify the duration of his appointment, which may be for a period of time, or until the occurrence of a specified event. Alternatively, the order may specify that the duration of the appointment is to be subject to a further order of the court.

The appointment of a special manager may be renewed by order of the court.

The special manager's remuneration shall be fixed from time to time by the court.

The acts of the special manager are valid notwithstanding any defect in his appointment or qualifications.