Schedule 16, paragraph 41(4)

In the application of sub-paragraph (3)(a)— “remuneration” includes expenses properly incurred and any indemnity to which the administrative receiver or receiver is entitled out of the assets of the company, the charge imposed takes priority over security held by the person by whom or on whose behalf the administrative receiver or receiver was appointed, and the provision for payment is subject to paragraph 43.

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Source: legislation.gov.uk · retrieved 2026-09-04