| Commentary

151 Costs and expenses of administration

| Commentary

151 Costs and expenses of administration

Where a person ceases to be the administrator of a company (whether because he vacates office by reason of resignation, death or otherwise, because he is removed from office, or because his appointment ceases to have effect) his remuneration and expenses shall be:

  1. 151.1

        Charged on and payable out of property of which he had custody or control immediately before cessation; and

  2. 152.2

        Payable in priority to any floating charge liability of the company1.

That charge, in turn, is payable after any sums payable in respect of debts or liabilities incurred, while he was administrator,

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