Companies (Winding-up Fees)

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1. Interpretation
The Interpretation Act shall apply to the interpretation of this Order as it applies to an Act of Parliament.

2. Winding-up fees
The fees and percentages to be charged for and in respect of proceedings in the winding-up of companies shall be those set out in the Schedule.

3. Fees to be taken in cash
(1) All fees and percentages in the Schedule shall be taken in cash.

(2) Where any fee is paid to an officer of the court the person paying the fee shall inform the officer that the fee relates to a proceeding for the winding-up of a company.

4. Reduction in fees
Where the court has sanctioned a reconstruction of the company or a scheme of arrangement of its affairs or where for any other reason the Official Receiver or liquidator is satisfied that the fees would be excessive, such reduction may be made in the said fees as may, on the application of the Official Receiver or liquidator, be sanctioned by the court.

No. of Fee	Description of Proceedings	Amount

1.	On the insertion in the Gazette of a notice relating to a company which is being wound up by the court	VT 2,500
2.	Where the Official Receiver acts as provisional liquidator under section 240 of the Companies Act where no winding-up order is made, or where a winding-up order is rescinded, or all further proceedings are stayed prior to the statutory meetings of creditors and contributories − Such amount as the court may consider reasonable to be paid by the petitioner or by the company, as the court may direct.
3.	Where a winding-up order is made, but the Official Receiver does not continue as liquidator after the statutory meetings of creditors and contributories − (a) for all official stationery, printing, photocopying, postages, telephones, telexes (including notices to creditors and contributories of meetings and court sittings) −
	(i) for a number of creditors and members not exceeding 25	VT 10,000
	(ii) for every additional 10 creditors or members or part thereof	VT 2,500
	(This fee does not include the charge made by the Official Receiver or liquidator calling a meeting of creditors or contributories for which provision is made in Rule 121 of the Companies (Winding-up) Rules).
	(b) such further amount as the court may consider reasonable to be paid by the company.
4.	Where a winding-up order is made on any amount brought to credit by the Official Receiver (including amounts received for secured creditors for debenture holders and amounts brought to credit by the Official Receiver acting as liquidator under Section 241(1)(e) of the Companies Act, but excluding amounts spent in carrying on the business of the company) −
	(i) on the first VT 500,000 or fraction thereof per cent	VT 20
	(ii) on the next VT 1,500,000 or fraction thereof per cent	VT 15
	(iii) on the next VT 8,000,000 or fraction thereof per cent	VT 10
	(iv) on all further amounts per cent (Subject to a minimum fee of VT 50,000)	VT 5
5.	At the due date for liquidators (including the Official Receiver when he is liquidator) sending accounts of their receipts and payments as liquidator to the Minister responsible for commerce under Section 250 of the Companies Act, a fee according to the following scale on the amount brought to credit, including the produce of calls on contributories but after deducting (1) amounts spent out of the money received in carrying on the business of the company and (2) amounts paid by the Official Receiver or liquidator to secured creditors (other than debenture holders) −
	(i) on the first VT 1,000,000 or fraction thereof per cent	VT 5
	(ii) on the next VT 9,000,000 or fraction thereof per cent	VT 3.5
	(iii) on the next VT 90,000,000 or fraction thereof per cent	VT 2
	(iv) on all further sums per cent (Subject to a minimum fee of VT 25,000)	VT 1
6.	For travelling, accommodation, keeping possession, legal costs, advertisement and other reasonable expenses of the Official Receiver, the amount disbursed.
7.	Where a liquidator (including the Official Receiver when he is liquidator) at the request of a secured creditor or a receiver appointed by a secured creditor, transfers or conveys property subject to any charge created thereon by the company −
	on the sale price of the property per cent	VT 10.50
8.	Where the Official Receiver performs any duty not provided for in this Schedule, such amount as the court, on the application of the Official Receiver, may consider reasonable.

Vanuatu Consolidated Subsidiary Legislation

Companies (Winding-up Fees)