(1) The Registrar shall take cognizance of the conduct of liquidators of companies which are being wound up by the court, and, if a liquidator does not faithfully perform his or her duties and duly observe all the requirements imposed on him or her by statute, rules, or otherwise with respect to the performance of his or her duties, or if any complaint is made to the Registrar by any creditor or contributory in regard thereto, the Registrar shall inquire into the matter, and take such action thereon as he or she may think expedient.