Co-operatives Act, 2005 (Act No. 14 of 2005)RegulationsCo-operatives Administrative Regulations, 2016Chapter 2 : Winding Up and Judicial Management of Co-operativesPart A : Winding-Up of Co-operativesLiquidators81. Remuneration of liquidator |
| (1) | A liquidator will be entitled to the remuneration set out in Schedule 2 for his or her services: Provided that if more than one liquidator is appointed the remuneration must be distributed among them on such basis as may be approved by the registrar. |
| (2) | Unless the registrar otherwise directs the remuneration of a liquidator must not be paid otherwise than in accordance with a liquidation account. |
| (3) | The registrar may decrease the remuneration of a liquidator or disallow such remuneration if in his or her opinion there is good cause for doing so. |
| (4) | No person who employs or is a fellow employee or in the ordinary employment of a liquidator will be entitled, except with the approval of the registrar, to receive any remuneration out of the assets of the co-operative for services rendered in connection with the functions of the liquidator, and no liquidator will be entitled either by him- or herself or his or her partner to receive out of the assets of the co-operative remuneration for his or her services except the remuneration to which he is entitled under these regulations. |