212. Progress report to contributories and creditors

(1) If the winding-up of the Company continues for more than one (1) year, the liquidator must, within two (2) months after the end of twelve (12) months commencing on the date on which the liquidator is appointed, and after every subsequent twelve (12) months until the liquidator ceases to act —
(a) produce a progress report providing an account of his acts and dealings, and of the conduct of the winding-up, during the preceding year; and
(b) send a copy of the progress report to contributories and creditors of the Company and to the Registrar.
(2) If the liquidator fails to comply with subsection (1), he commits a contravention and is liable to a fine at the relevant level set out in the Fines Schedule.