Section 109: Qualifications of liquidator other than Official Receiver

109. Qualifications of liquidator other than Official Receiver (1) A person other than the Official Receiver who is appointed provisional liquidator or liquidator shall not be qualified for appointment where he is— (a) or has been an officer, auditor or employee of the company or any related corporation during the preceding 2 years; (b) a minor, a bankrupt or a person under any physical or mental impairment; (c) a person who has been the subject of an order under section 337 or 338 of the Companies Act; (d) has been a receiver of the company during the preceding 3 years; or (e) not qualified to be appointed as an Insolvency Practitioner. (2) Where a person other than the Official Receiver is appointed provisional liquidator or liquidator, that person— (a) shall not act as such until he has given— (i) written notice of his appointment to the Director; (ii) security to the satisfaction of the Official Receiver; and (iii) satisfactory evidence to the Official Receiver that he holds professional indemnity insurance to the satisfaction of the Official Receiver; and (b) shall give the Official Receiver such information and such access to and facilities for inspecting the books of the company, and generally such assistance as may be required for enabling that officer to perform his duties under this Act. (3) For the purposes of this section, “auditor” means the auditor or partner of the audit firm that has been appointed auditor of the company.