How to register as an approved liquidator

Introduction

A person is only eligible for appointment as a liquidator of a public company or company that is being wound up in accordance with the provisions of Chapter 4 of Part 21 of the Companies (Jersey) Law 1991 (creditors’ winding up) if the person is entered on the Register of Approved Liquidators (the “Register”) held by the Viscount.

To be included in the Register a liquidator must meet specific criteria and follow a formal application process as outlined in Article 7 of the Companies (General Provisions) (Jersey) Order 2002 (jerseylaw.je). A person is added to the Register for one year and must apply annually for re-registration.

Form of application and timeline

All applications for registration and re-registration must be made using the application form found here:

Application Form For Registration As An Approved Liquidator

Appendix To Approved Liquidator Application Form

It is important that the form is completed in respect of each application for registration and re-registration, and that it is accompanied by all the relevant supporting evidence.

Applications must be sent electronically to liquidators@courts.je.

The Viscount’s Department aims to consider properly completed applications and either confirm that the applicant is eligible for registration or provide reasons for refusal within 14 days. However, if your application is urgent please highlight this in the covering email including the reasons why the application is urgent.

Please ensure you allow sufficient time for your application to be considered by the Viscount before any application is heard by the Royal Court for the appointment of a liquidator in respect of specific company.

Application fee

Where an applicant is eligible for registration or re-registration then payment of the prescribed registration fee (currently £800) must be made. Only once payment is made will the applicant’s registration be completed or renewed.

Qualification requirements (Jersey resident liquidators)

To be eligible to be entered into the Register, an individual must meet the three criteria below. The individual must:

• be ordinarily resident in Jersey;
• have the necessary level of experience as determined by the Viscount in writing (see below); and either
  • hold a license in the UK to act as an insolvency practitioner from one of the recognized professional bodies under section 391(8) of the Insolvency Act 1986, or
  • be a member of the Association of Chartered Certified Accountants, the Chartered Accountants of Ireland, the Institute of Chartered Accountants in England and Wales or the Institute of Chartered Accountants in Scotland; and
• demonstrate that the person maintains a general bond of £250,000 and will have a specific bond of between £5,000 to £5,000,000 in place for each appointment.

Necessary experience

The Viscount has determined that to be entered in the Register an individual must be able to demonstrate that they have been practicing as a liquidator in each of the last three years for 150 hours or more each year or otherwise be able to demonstrate that they have sufficient experience and competence from prior or existing practice.

Non-Jersey resident liquidators

A person who is not ordinarily resident in Jersey but is otherwise qualified in accordance with criteria set out above may apply to be entered in the Register as a non-Jersey liquidator.

A non-Jersey liquidator may only be appointed to act as a liquidator of a company together with another liquidator who is ordinarily resident in Jersey and who has been entered in the Register.

The application process for the entry of non-Jersey liquidators in the Register follows the same process and is made using the same form as for other liquidators.

Notification of changes

If there are any changes in circumstances that disqualify you from meeting the requirements for entry in the Register you must notify the Viscount within 21 days. Failure to do so will result in the cancellation of your registration.

Public Register

The Viscount publishes the Register of Approved Liquidators online so that it is readily available for public inspection.

Disqualifications

Please note that an individual who is entered in the Register may still be disqualified from being appointed as a liquidator for a particular company. An individual will be disqualified if the individual is:

• a secretary, officer, or servant of the company, or a partner or employee of such a person
• subject to an order under Article 78 of the Law (a disqualification order)
• disqualified for appointment in any related corporate body

Contact us

For any queries on specific applications please email liquidators@courts.je or you may write to the Insolvency Team, Viscount’s Department, Morier House, St Helier, Jersey, JE1 1DD.