(1) If where a company is being wound up the winding-up is not concluded within one year after its commencement, the liquidator shall, at such intervals as may be prescribed, until the winding-up is concluded, send to the Registrar a statement in the prescribed form and containing the prescribed particulars with respect to the proceedings in the winding-up and the position of the liquidator.
(2) Any person stating himself or herself in writing to be a creditor or contributory of the company shall be entitled, by himself or herself or by his or her agent, at all reasonable times, on payment of the prescribed fee, to inspect the statement, and to receive a copy thereof or extract therefrom.
(3) If a liquidator fails to comply with this section, he or she commits an offence and any person untruthfully stating himself or herself as provided in subsection (2) to be a creditor or contributory commits a contempt of court, and is, on the application of the liquidator or of the Official Receiver, punishable accordingly.