CRS Business Rescue

In-depth analysis of the business rescue provisions contained in the Companies Regulations

Regulation 135: Tariff of fees for practitioners

(1) The basic remuneration of a business rescue practitioner, as contemplated in section 143(1), to be determined at the time of the appointment of the practitioner by the company, or the court, as the case may be, may not exceed—

(a) R 2000 per hour, to a maximum of R 25 000 per day, in the case of a practitioner contemplated in Regulation 133 (2)(a); or

(b) R 1250 per hour, to a maximum of R 15 625 per day, in the case of a practitioner contemplated in Regulation 133 (2)(b).

(2) In addition to the remuneration determined in accordance with section 143(1) to (4), and this regulation, a practitioner is entitled to be reimbursed for the actual cost of any disbursement made by the practitioner, or expenses incurred by the practitioner to the extent reasonably necessary to carry out the practitioner’s functions and facilitate the conduct of the company’s business rescue proceedings.

Note: These draft business rescue regulations will be replaced by new draft regulations - publication date by government unknown.