338. Fixing of remuneration.

(v)     Remuneration of the Trustee

338.     Fixing of remuneration.

The trustee is entitled to receive remuneration for services as trustee in bankruptcy1. The basis of remuneration must be fixed:

  1.  

    (1)     as a percentage of the value of the assets in the bankrupt's estate which are realised, distributed2, or both realised and distributed by the trustee;

  2.  

    (2)     by reference to the time properly given by the trustee, and the trustee's staff in attending to matters arising in the bankruptcy; or

  3.  

    (3)     as a set amount3.

The basis of remuneration may be one or a combination of the bases set out