Section 676 - Supplementary Provisions As To Winding Up

(1) The following persons shall not be competent to be appointed or to act as liquidator of a company, whether in a winding up by, or under the supervision of the Court, or in a voluntary winding up-

(a) an infant;

(b) anyone found by the Court to be of unsound mind;

(c) a body corporate;

(d) an undischarged bankrupt;

(e) any director of the company under liquidation;

(f) any person convicted of any offence involving fraud, dishonesty, official corruption or moral turpitude and in respect of whom there is a subsisting order under section 672 and 280 of this Act.

(2) Any appointment made that is contrary to subsection (1) is void and if any of the persons named in subsection (1) (c) - (f) act as a liquidator of the company, he commits an offence and is liable to a fine as prescribed by the Commission in the Regulations in the case of a body corporate or, in the case of an individual, to imprisonment for a term not exceeding six months or to a fine as the Court deems fit or both.