Section 461, The Companies Act, 2009

(1) The following persons shall not be competent to beappointed 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) a person below the age of 18 years; (b) any person found by the court to be of unsound mind; (c) a body corporate; (d) an undischarged bankrupt; (e) an officer or contributory 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 218. (2) An appointment made in contravention of subsection (1) shall be void and if any of the persons named in paragraphs (c), (d), (e), and (f) of that subsection acts as a liquidator of the company he shall be guilty of an offence and be liable to a fine not exceeding Le5,000,000 .in the case of a body corporate or, in the case of an individual, to imprisonment for a term not exceeding 6 months or to a fine not exceeding Le5,000,000 or to both the imprisonment and fine.