A liquidator is an officer appointed when a company goes into winding up or liquidation.  He is responsible for collecting all of the company's assets and settling all claims against the company before putting the company into dissolution. 

A person must be an approved liquidator, if he is to be appointed as a liquidator for compulsory winding up (by the Court or creditors).  If he is only performing voluntary winding up (by members or creditors), he need not be registered as an approved liquidator.

Application Fees and Information

For Who Persons who wish to provide perform compulsory winding up.
Fee There is no filing fee for this transaction.
Term Upon successful approval as an approved liquidator, a certificate of approval to be an approved liquidator will be issued.  The certificate will expire on 31st March in the third year following the year in which the approval was granted.  Example:  If the approval was granted on 1 March 2010, the certificate of approval would expire on 31 March 2013 (i.e. 2010+3 years).
Requirements As set out under section 9 of the Companies Act 
(Please see more information below.)

Registration Requirements

Applicants to be an approved liquidator must satisfy the Registrar of Public Accountants as to his experience and capacity.

Requirements for Public Accountants

Evidence of 'Experience' Public accountants must have suitable and relevant experience – 'suitable and relevant experience ' means audit or liquidation experience
Evidence of 'Capacity' Public accountants must obtain a report from two referees (an applicant's client or family member cannot be the referee), one of whom must be an approved liquidator who has supervised the applicant's work. These reports should comment on the applicant's character, his ability to perform liquidation work, his role in specific liquidation jobs (where applicable) and other relevant experience which the referee deems applicable.

Requirements for Non Public Accountants

Evidence of 'Experience' Applicants must possess a minimum of 3 continuous years full time insolvency administration experience, of which any 2 years must be at a managerial or supervisory level.
Evidence of 'Capacity'

Qualifications (see details below)

Fit and proper – 
The Registrar may refuse to register any applicant whom in her opinion is not of good reputation or character; and

Reports from two referees – 
Applicants must obtain a report from two referees (an applicant’s client or family member cannot be the referee), one of whom must be an approved liquidator who has supervised the applicant's work. These reports should comment on the applicant's character, his ability to perform liquidation work, his role in specific liquidation jobs (where applicable) and other relevant experience which the referee deems applicable.

Qualification requirement for Non-Public Accountant

An applicant must at the time of his application for registration:

  1. Have passed the final examination in accountancy of one of the following:
    1. The Singapore Polytechnic for the professional diploma and for the degree course in accountancy for the years 1961 to 1969;
    2. The University of Singapore for the degree of Bachelor of Accountancy;
    3. The Nanyang University of Singapore for the degree of Bachelor of Commerce (Accountancy) or Bachelor of Accountancy;
    4. The National University of Singapore for the degree of Bachelor of Accountancy or Bachelor of Business Administration (Accountancy) Degree;
    5. The Nanyang Technological Institute for the degree of Bachelor of Accountancy;
    6. The Institute of Singapore Chartered Accountants (formerly known as the Institute of Certified Public Accountants of Singapore) — Association of Chartered Certified Accountants of the United Kingdom Joint Scheme; including passing one of the following examination modules:
      1. Paper 10: Accounting and Audit Practice;
      2. Paper 3.1: Audit and Assurance Service; or
      3. P7 Advanced Audit and Assurance; The Nanyang Technological University for the degree of Bachelor of Accountancy or Master of Business Administration (Accountancy);
    7. The Institute of Singapore Chartered Accountants Professional Examination;
    8. The Singapore Management University for the degree of Bachelor of Accountancy or Master of Professional Accounting;
    9. The SIM University for the degree of Bachelor of Accountancy; 
    10. The Singapore Qualification Programme prescribed by the Singapore Accountancy Commission;or 
  2. Have passed the final examination in accountancy of one of the following or its recognised equivalent:
    1. The Institute of Chartered Accountants of Scotland (ICAS);
    2. The Institute of Chartered Accountants in England and Wales (ICAEW);
    3. The Institute of Chartered Accountants in Ireland (ICAI);
    4. The Association of Chartered Certified Accountants (ACCA) (formerly known as the Chartered Association of Certified Accountants); including passing one of the following examination modules:
      1. Paper 10: Accounting and Audit Practice;
      2. Paper 3.1: Audit and Assurance Service; or
      3. P7 Advanced Audit and Assurance;
    5. The Institute of Chartered Accountants in Australia (ICAA);
    6. CPA Australia (formerly known as the Australian Society of Certified Practising Accountants);
    7. New Zealand Institute of Chartered Accountants (NZICA)(formerly known as the Institute of Chartered Accountants of New Zealand);
      viia. Chartered Accountants Australia and New Zealand (CAANZ); 
    8. The Canadian Institute of Chartered Accountants (CICA);
      viiia. Chartered Professional Accountants Canada (CPA Canada), except that CPA Canada members must have passed the following:  
      1. 2 elective modules on Assurance and Tax; and  
      2. The Common Final Examination;
    9. American Institute of Certfied Public Accountants (AICPA);
    10. The Chartered Institute of Management Accountants of the United Kingdom (CIMA), except that CIMA members shall have passed the following subjects:
      1. Financial Reporting Environment;
      2. Accounting and Audit Practice;
      3. Advanced Taxation; and
      4. Company Law and Corporate Governance

and shall have also passed such other examination and have fulfilled such other requirements as may be determined by the Public Accountants Oversight Committee (PAOC).

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