(1) Every liquidator of a company which is being wound up by the court shall, at such times as may be prescribed but not less than twice in each year during his or her tenure of office, send to the Registrar an account of his or her receipts and payments as liquidator.
(2) The account shall be in a prescribed form, shall be made in duplicate, and shall be verified by an affidavit or a statutory declaration in the prescribed form.
(3) The Registrar shall cause the account to be audited by an auditor eligible for appointment as auditor of a company under section 158 and for the purpose of the audit the liquidator shall furnish the auditor with such vouchers and information as the auditor may require, and the auditor may at any time require the production of and inspect any books or accounts kept by the liquidator.
(4) When the account has been audited, one copy thereof shall be filed and kept by the Registrar and the other copy shall be delivered to the court for filing, and each copy shall be open to the inspection of any creditor or any person interested.
(5) If a liquidator fails to comply with any of the duties imposed on him or her by this section he or she commits an offence.