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<h1>Fee for insolvency resolution professionals fixed with minimums, committee may set higher fees and grant performance-linked incentives.</h1> The applicant or committee shall decide the fee of the interim resolution professional or resolution professional; for appointments on or after 1 October 2022 a prescribed minimum fee applies for an initial Schedule II period, subject to upward adjustment by the applicant or committee with recorded reasons based on market factors; after that period fees are as decided by the applicant or committee. The committee may also adopt a performance linked incentive structure for plans approved on or after 1 October 2022. Fees and incentives may be paid from corporate debtor funds, applicant or committee contributions, or interim finance and are included in the insolvency resolution process cost.
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