Companies Act 2014
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Specific disqualification from appointment as liquidator or provisional liquidator | ||
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635. (1) None of the following persons shall be qualified to be appointed or act as liquidator of a company: | ||
(a) a person who is, or who within the period of 24 months before the date of the commencement of the winding up has been, an officer or employee of the company; | ||
(b) except with the leave of the court, a parent, spouse, civil partner, brother, sister or child of an officer of the company; | ||
(c) a person who is a partner or in the employment of an officer or employee of the company; | ||
(d) a person who is an undischarged bankrupt; | ||
(e) a person who is not qualified by virtue of a preceding provision of this subsection for appointment as liquidator of any other body corporate which is that company's subsidiary or holding company or a subsidiary of that company's holding company, or would be so disqualified if the body corporate were a company. | ||
(2) References in subsection (1) to— | ||
(a) a child of an officer shall be deemed to include a child of the officer's civil partner who is ordinarily resident with the officer and the civil partner, | ||
(b) an officer or employee of the company include a statutory auditor of the company. | ||
(3) An application for leave under subsection (1)(b) shall be supported by such evidence as the court may require. | ||
(4) If, while acting as liquidator of a company, a person ceases to be qualified to so act by virtue of subsection (1), the person shall thereupon vacate his or her office. | ||
(5) On vacating such office by reason of those circumstances, the person shall give notice in writing that he or she has vacated such office (by reason of those circumstances)— | ||
(a) within 2 days after the date of vacating office, to— | ||
(i) the Registrar, | ||
(ii) the Director, and | ||
(iii) if the person had been authorised pursuant to paragraph 5 of the Table to section 633 to be appointed as a liquidator — the Supervisory Authority, | ||
and | ||
(b) within 14 days after the date of vacating office, to— | ||
(i) in the case of a winding up by the court, the court and— | ||
(I) if a committee of inspection has been appointed — the members of that committee, or | ||
(II) if no committee of inspection has been appointed — the creditors of the company, | ||
(ii) in the case of a creditors' voluntary winding up— | ||
(I) if a committee of inspection has been appointed — the members of that committee, or | ||
(II) if no committee of inspection has been appointed — the creditors of the company, | ||
or | ||
(iii) in the case of a members' voluntary winding up — the members of the company. | ||
(6) A person who— | ||
(a) acts as a liquidator of a company when he or she is not qualified by virtue of subsection (1) to so act, or | ||
(b) contravenes subsection (4), | ||
shall be guilty of a category 2 offence. | ||
(7) A person who contravenes subsection (5) shall be guilty of a category 3 offence. | ||
(8) Subsections (1) to (7) shall not apply to a winding up commenced before 1 August 1991. | ||
(9) In this section “liquidator” includes a provisional liquidator. |