(1)A court when fixing the remuneration of a receiver shall, as a rule direct it to be in the nature of a commission or percentage of which one part shall be payable on the amount realized by the Receiver, and the other part on the amount distributed in dividends.The part payable on the amount realized by the Receiver shall not usually be more than 4 percent, and the part on the amount distributed in dividends should not usually be more than 1%. If any remuneration in excess of the percentages fixed above is paid, the court shall record its reason before allowing the remuneration.(2)the court may direct additional remuneration to the Receiver:-(i) where, in the interest of the estate, he incurs expenditure in traveling;(ii)where he being a lawyer performs work for which a lawyer would otherwise have been employed: and(iii)where a composition is proved under section 38 and the remuneration payable to the Receiver under clause (1) of the rule appears insufficient.(3)Where the Receiver performs the work of a lawyer as described in sub-clause (ii) of clause (2), the court deciding the matter in which the Receiver appears, will fix a suitable fee, not exceeding the full legal fee payable to a lawyer, as the fee payable to the Receiver. The receiver need not file a certificate of fees. The amount so assessed shall be taxed as costs in the decree or order and will represent the additional remuneration payable under the said clause (2) (ii) to the Receiver.(4)Where the adjudication is annulled, or where the insolvent settles his affairs with his creditors out of court, the court may allow to the Receiver any additional remuneration over and above what may be payable to him, under clause (2) that it thinks fit, provided that, in any case the total amount allowed shall not exceed the total amount that could have been paid under clause (1) if the case had come to its conclusion; provided also that the additional remuneration under sub-clauses (i) and (ii) of clause (2) shall not be taken into consideration in calculation in calculating the total amount payable under clause (1).
