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Friday, 4 March 1927

Senator McLACHLAN (South Australia) (Honorary Minister) . - This clause is to amend section 64 of the principal act, which provides that if creditors do not fix the remuneration of any special manager appointed, the remuneration may be fixed "as is prescribed." It was agreed at the bankruptcy conference that difficulty would be experienced in fixing the remuneration of special managers by regulation, as the classes of business which a special manager may be called upon to handle would vary considerably. It appears to be more practicable, therefore, in the absence of any determination by the creditors, to leave the matter to the official receiver to determine, subject to the approval of the court or registrar.

Senator Thompson - What is the object of appointing a special manager? Is it to enable a business to be carried on for a certain time?

Senator McLACHLAN -Yes.

Clause agreed to.

Clause 8 (Priorities).

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