2.9.5:Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) Regulations, 2017
5. Appointment of Liquidator.
(1) An insolvency professional shall not be appointed by a corporate person if he is not eligible under Regulation 6.
(2) The resolution passed under regulation 3(2)(c) or under section 59(3)(c), as the case may be, shall contain the terms and conditions of the appointment of the liquidator, including the remuneration payable to him.