Companies Act 2014 section 635

Specific disqualification from appointment as liquidator or provisional liquidator

Section 635 sets out the categories of persons who are specifically disqualified from being appointed or acting as a liquidator or provisional liquidator of a company, and the obligations and penalties that apply when a disqualification arises.

• Persons connected to the company — such as current or recent officers, employees, statutory auditors, their family members, business partners, and undischarged bankrupts — are disqualified from acting as liquidator
• A family member of a company officer may only act as liquidator if the court grants permission, supported by appropriate evidence
• A liquidator who becomes disqualified while in office must vacate immediately and notify specified parties (the Registrar and Corporate Enforcement Authority within 2 days; the court, creditors, or members within 14 days depending on the type of winding up)
• Acting as liquidator while disqualified or failing to vacate office is a category 2 offence, and failing to give the required written notices is a category 3 offence

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