You will need this registration if you intend to act as a liquidator for insolvent companies.
A company becomes insolvent when it is unable to pay its debts when they are due. Liquidation of an insolvent company enables an independent liquidator to take control of the company so that its affairs can be wound up in an orderly and fair way for the benefit of all creditors.
You can apply to be registered in either of two categories:
- as an external administrator of companies, receiver and receiver and manager
- as a receiver and receiver and manager.