First exception: administrator has made a statement under paragraph 52(1)(b) of Schedule B1
This section has no associated Explanatory Memorandum
18.26.—(1) This exception applies in an administration where—
(a)the basis of the administrator’s remuneration has been fixed by the committee; and
(b)the administrator has made a statement under paragraph 52(1)(b) of Schedule B1.
(2) A request by the administrator for an increase in the rate or amount of remuneration or a change in the basis must be approved by—
(a)the consent of each of the secured creditors; or
(b)if the administrator has made or intends to make a distribution to preferential creditors—
(i)the consent of each of the secured creditors, and
(ii)a decision of the preferential creditors in a decision procedure.