Singapore legislation
Clause 38
Clause 38
Remuneration of trustee
(1)
A trustee shall be entitled to receive such salary or remuneration as is determined in the following manner:
by agreement between the trustee and the creditors’ committee, if any;
failing any agreement with the creditors’ committee or where there is no such committee, by a special resolution of the creditors whose debts have been admitted for the purpose of voting and who are present in person or by proxy and voting at a meeting to be convened by the trustee by a notice to each creditor in accordance with subsection (2); or
failing a determination in the manner referred to in paragraph (a) or (b), by the court.
(2)
The trustee shall attach to every notice under subsection (1)(b) a statement of all receipts and expenditure by the trustee and the amount of remuneration sought by him.