Companies Act 2014
Process adviser: remuneration, costs and expenses
558ZY. (1) The relevant court may from time to time make such orders as it thinks proper for payment of the remuneration and costs of, and reasonable expenses properly incurred by, a process adviser.
(2) Unless the relevant court otherwise orders, the remuneration, costs and expenses of a process adviser shall be paid and the process adviser shall be entitled to be indemnified in respect thereof out of the revenue of the business of the eligible company to which he or she has been appointed, or the proceeds of realisation of the assets (including investments).
(3) Subject to subsection (4), the functions of a process adviser may be performed by him or her with the assistance of persons appointed or employed by him or her for that purpose.
(4) A process adviser shall, in so far as is reasonably possible, make use of the services of the staff and facilities of the eligible company to which the process adviser has been appointed to assist the process adviser in the performance of his or her functions.
F438[(4A) Where a process adviser does not make use of the services of the staff and facilities of the eligible company in accordance with subsection (4), the relevant court may request a written report from the process adviser stating the reasons for not doing so.]
(5) In considering any matter relating to the costs, expenses and remuneration of a process adviser the relevant court shall have particular regard to F439[subsection (4) and any written report provided to it in accordance with subsection (4A)].]
Annotations
Amendments:
F437
Inserted (7.12.2021) by Companies (Rescue Process for Small and Micro Companies) Act 2021 (30/2021), s. 3, S.I. No. 673 of 2021.
F438
Inserted (3.12.2024) by Companies (Corporate Governance, Enforcement and Regulatory Provisions) Act 2024 (44/2024), s. 49(a), S.I. No. 639 of 2024.
F439
Substituted (3.12.2024) by Companies (Corporate Governance, Enforcement and Regulatory Provisions) Act 2024 (44/2024), s. 49(b), S.I. No. 639 of 2024.