New South Wales Consolidated Acts

LOAN FUND COMPANIES ACT 1976 - SECT 62

62 Expenses of administration

(1) The expenses of and incidental to the administration of the affairs and activities of a loan fund company by an administrator appointed under section 60 are payable by the company.

(2) The remuneration of an administrator of a loan fund company who is not a servant of the Crown is an expense referred to in subsection (1) and shall be fixed by the Minister.

(3) Where an administrator of a loan fund company is a servant of the Crown, the reimbursement of the Crown of an amount certified by the Supervisor in respect of the remuneration of that servant is an expense referred to in subsection (1) and is recoverable from the company in a court of competent jurisdiction as a debt due to the Crown.