Companies Act 2014 section 519

Qualification of examiners

Section 519 sets out the qualification requirements for a person to be appointed or to act as an examiner of a company, and the penalty for acting without the proper qualification.

• Only a person who would be qualified to act as liquidator of the company may be appointed or act as its examiner.
• The requirement for professional indemnity cover that applies to liquidators under section 634 does not apply for the purposes of examiner qualification.
• A person who acts as examiner without holding the necessary qualification commits a category 2 offence.
• This provision originated in section 28 of the Companies (Amendment) Act 1990, with the addition of a specific criminal offence category for non-compliance.