IAASA Guidance on Liquidators

IAASA Guidance Regarding Qualification for Appointment as Liquidator Under S633 of the Companies Act 2014

In Ireland a person may only be qualified to act as a liquidator of a company if they fall into specified categories of persons as described below and meet other legal requirements such as maintaining adequate indemnity against losses and claims that may arise and not having been an officer or employee of the company in the previous 24 months. The specific legislative requirements are set out in Sections 633, 634 and 635 of the Companies Act 2014. In summary, those who may currently qualify for appointment as a liquidator in Ireland are:

  • a member of a prescribed accountancy body holding a current practising certificate issued by that accountancy body. See contact details for all eight prescribed accountancy bodies.
  • a solicitor holding a current practising certificate issued by the Law Society of Ireland. See the Law Society website.
  • a person who is a member of a professional body which IAASA may recognise for the purpose of liquidator activities (there is no body recognised for this purpose).
  • a person entitled under the laws of an EEA state to act as a liquidator in insolvency proceedings.
  • a person with practical experience of windings-up and knowledge of relevant law who stands authorised for the time being by IAASA to be so appointed. These are known as Category 5 liquidators. See a list of persons approved under category 5


IAASA guidance in respect of Liquidators 

IAASA’s role is in respect of Category 5 liquidators is limited to authorisation of certain individuals who applied to the Authority prior to 1 December 2017. IAASA does not have any ongoing supervisory or investigation role in respect of any liquidators.

The Office of the Director of Corporate Enforcement (ODCE) supervises liquidators in the proper discharge of their duties. Complaints in respect of the performance of liquidators should be directed to the ODCE. Further details on ODCE’s functions are available on the ODCE website.