Who can be appointed as Private Liquidator?
Pursuant to Section 9 of Companies Act (Amended) 2017, the Minister may, by order published in the Gazette, declare a person within a specified class of persons be an approved liquidator. Persons who are outside this specified class of person may apply to the Minister to be approved as liquidator for the purposes of the Companies Act. The applicant can be a public accountant registered under the Accountants Act or a non-public accountant under the Accountants Act. Once the approval is granted, the approved liquidator is charged with the responsibility for the registration or control of Paragraph 2(a) and (b) of the Second Schedule to the Accountants (Public Accountants) Rules 2004 and Section 9 of the Companies Act (Cap. 50).