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The Companies Act 2014 (‘the 2014 Act’) came into force on 1 June 2015. The 2014 Act provides, at Sections 633, 634 and 635, for the specific legislative requirements governing the qualification criteria for those who wish to act as company liquidators.

How can I qualify for appointment as a liquidator?

  • 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. Contact details for all eight prescribed accountancy bodies are available here .
    • a solicitor holding a current practising certificate issued by the Law Society of Ireland. The law society website link is available here.
    • 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. A list of persons approved under category 5 is available here.


How do I become authorised by IAASA under Category 5 of Section 633 of the 2014 Act to act as a liquidator?

  • The closing date for receipt of applications under Category 5 was 1 December 2017 and this category is now closed.

What are the requirements regarding the need to have in place professional indemnity insurance?

  • In accordance with the 2014 Act, IAASA has made Regulations setting professional Indemnity cover requirements for liquidators required by Section 634 of the 2014 Act. Statutory Instrument 127 of 2016 Companies Act 2014 (Professional Indemnity Insurance)(Liquidators) Regulations 2016 came into effect on 1 June 2016.

    In summary, the professional indemnity insurance shall provide a limit of liability for each and every claim of not less than €1,500,000 and provide cover for defence costs. This insurance shall be at a level which is commensurate with the value and nature of the work undertaken by the insured. There is also a requirement for run-off cover.

    It is a matter for individuals currently acting as liquidators to seek their own advice to ensure that they are in compliance with all legal and professional requirements in relation to their acting as liquidator in any particular case.


How do I make a complaint about a liquidator?

  • 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 the ODCE’s functions in this regard are available here.

What is IAASA’s role 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.

What do I need to do if I wish to withdraw my authorisation under category 5 of Section 633 of the 2014 Act?

  • You may withdraw your authorisation by sending a request in writing to [email protected]