Section 84: Remuneration of trustee

84. Remuneration of trustee (1) Where the creditors appoint any person to be trustee of a debtor’s estate, his remuneration (if any) shall be fixed by an ordinary resolution of the creditors or, if the creditors so resolve, by the committee of inspection, and shall be in the nature of a commission or percentage, of which one part B4 – 35 [Issue 1] Bankruptcy Act shall be payable on the amount realised, after deducting any sums paid to secured creditors out of the proceeds of their securities, and the other part out of the amount distributed in dividends. (2) Where one fourth in number or value of the creditors dissent from the resolution, or the bankrupt satisfies the Court that the remuneration is unnecessarily large, the Court shall fix the amount of the remuneration. (3) The resolution shall express what expenses the remuneration is to cover, and no liability shall attach to the bankrupt’s estate, or to the creditors, in respect of any expenses which the remuneration is expressed to cover. (4) Where no remuneration has been voted to a trustee, he shall be allowed out of the bankrupt’s estate such proper costs and expenses incurred by him in or about the proceedings of the bankruptcy as the taxing officer may allow. (5) A trustee shall not, under any circumstances, make any arrangement for or accept from the bankrupt, or any attorney, auctioneer, or any other person that may be employed about a bankruptcy, any gift, remuneration, or pecuniary or other consideration or benefit beyond the remuneration fixed by the creditors and payable out of the estate, nor shall he make any arrangement for giving up or give up any part of his remuneration, either as receiver, manager, or trustee to the bankrupt or any attorney or other person that may be employed about a bankruptcy.