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Companies Act, 2008 (Act No. 71 of 2008)

Companies Regulations, 2011

Chapter 6 : Business Rescue

Part B : Business Rescue Practitioners

128. Tariff of fees for business rescue practitioners

 

 

See section 143

 

(1) The basic remuneration of a business rescue practitioner, as contemplated in section 143 (1), to be determined at the time of the appointment of the practitioner by the company, or the court, as the case may be, may not exceed—

(a)        R 1 250 per hour, to a maximum of R 15 625 per day, (inclusive of VAT) in the case of a small company.

(b)        R 1 500 per hour, to a maximum of R 18 750 per day, (inclusive of VAT) in the case of a medium company; or

(c)        R 2 000 per hour, to a maximum of R 25 000 per day, (inclusive of VAT) in the case of a large company, or a state owned company.

 

(2) Sub-regulation (1) does not apply to, limit or restrict any 'further remuneration' for a business rescue practitioner, as contemplated in section 143 (2) to (4).

 

(3) In addition to the remuneration determined in accordance with section 143 (1) to (4), and this regulation, a practitioner is entitled to be reimbursed for the actual cost of any disbursement made by the practitioner, or expenses incurred by the practitioner to the extent reasonably necessary to carry out the practitioner's functions and facilitate the conduct of the company's business rescue proceedings.