Ireland · Winding up, strike off and restoration

Qualification, appointment, powers, remuneration and removal of the liquidator

the Companies Act 2014 · sections 624, 625, 629 to 636, 639 to 641, 643, 644, 646, 647, 649, 650 and 653

The liquidator's powers carry notice duties that run in days. Where a liquidator exercises any power specified in paragraph 1 or 2 of the Table to section 627, that liquidator must act within 14 days after the date the power was exercised, in the manner section 629(1) requires, subject to section 629(2). Before selling a non-cash asset of the requisite value by private contract, the liquidator must give at least 14 days' notice of that intention to all creditors known or intimated (section 629(4)).

Connected party sales are restricted by a 3-year look-back. Subject to section 629(9), a liquidator may not sell, by private contract, a non-cash asset of the requisite value to a person who is, or who within the 3 years before the date of appointment was, a person of the kind section 629(3) describes. Resignation is equally fast: a liquidator who resigns must give written notice within 2 days after the date of resigning to the Registrar and the Authority, and within the further period section 641(2) sets to the other persons it names.

Sections 624, 625 and 629 to 631 govern the liquidator's duty to administer the property of the company, the powers available and the restrictions on their exercise. Sections 632 to 636 govern qualification and disqualification for appointment, and the Authority may request the information section 633(3A) describes from a person standing to be qualified or already qualified. A person who vacates office by reason of the circumstances the sections describe must give written notice as sections 634(6) and 635(5) require.

Sections 639 to 644 govern appointment, removal, resignation and the notifications that follow each. Sections 646 to 653 govern remuneration, the disclosure of interest and the production of records. The terms on which the liquidator is entitled to remuneration are, where there is a committee of inspection, such terms as have been agreed in writing between them, and otherwise as section 646(2) provides.

Working files 101, 102, 103 and 104 of the IE-COMPANY agent toolkit cover this situation. Working file 101 works through the duty to administer the property, the powers exercised and the restrictions on them. Working file 102 works through qualification and disqualification. Working file 103 works through appointment, removal, resignation and the notifications with their dates. Working file 104 works through remuneration, the disclosure of interest and the production of records.

• Working file 101 · The liquidator's duty to administer the property, powers and restrictions
• Working file 102 · Qualification and disqualification for appointment as liquidator
• Working file 103 · Appointment, removal, resignation and notification of liquidators
• Working file 104 · Liquidators' remuneration, disclosure of interest and production of records

ComplianceSME tracks the Companies Act 2014 and updates the toolkit on your account through the Compliance Complete account, so that you are never working from a superseded version. Compliance Complete

• A members' voluntary winding up and the final dissolution
• A creditors' voluntary winding up and the final meetings
• Realising the assets, the statement of affairs and antecedent transactions
• Paying the creditors: preferential payments and unclaimed dividends
• Contributories, the committee of inspection and the court's powers
• Running the winding up: annual meetings, progress reports and offences
• Voluntary strike off and restoration to the register

The Irish library holds all 75 situations →