Independence requirement for liquidators: appointment barred without independence or if under a board restraint, with mandatory disclosure. An insolvency professional and every partner or director of their professional entity must be independent of the corporate person to be appointed as liquidator, demonstrated by independence criteria including absence of related party status and no recent significant professional ties; professionals or entities under a Board restraint order are ineligible. The liquidator must disclose any pecuniary or personal relationships with the corporate person or its stakeholders to the Board and Registrar, and must stop acting if the professional entity or its partners represent other stakeholders in the same liquidation.