Companies Act, 1963

Disqualification for appointment as liquidator.

300.—A body corporate shall not be qualified for appointment as liquidator of a company whether in a winding up by the court or in a voluntary winding up and—

(a) any appointment made in contravention of this provision shall be void; and

(b) any body corporate which acts as liquidator of a company shall be liable to a fine not exceeding £100.