(1) Where there is no agreement or provision fixing the remuneration of a liquidator, he or she is entitled to a commission based on the net proceeds of the estate of the society realized after deducting his or her expenses and disbursements.
(2) The amount of the commission mentioned in subsection (1) is equal to—
(a) five per cent on the first $1,000 realised;
(b) two point five per cent on the next $4,000 realised; and
(c) one point two five per cent on any sum greater than $5,000 realised.
(3) Where a liquidator applies to the Registrar, he or she may increase the amount of commissions set out in subsection (2).
(4) A liquidator is not entitled to any fee or charge for his or her services in addition to the commission allowed under this section.