Section 358

Duty of liquidator to call general meetings.: (1) The liquidator shall—

(a) summon and hold annual general meeting of the company within a period of sixty days from the close of first year after the commencement of winding up, in the manner provided under section 132;

(b) lay before the meeting audited accounts consisting of statement of financial position and the receipt and payment accounts, auditors’ report and the liquidator’s report on the acts, dealings and the conduct of the company’s winding up during the preceding period from the date of winding up; and

(c) forward by post to every contributory a copy of the accounts and the reports, as referred to in clause (b).

(2) A return of convening of each general meeting together with a copy of the notice, accounts and the reports as aforesaid, the list of contributories as on the date of the meeting and the minutes of the meeting shall be filed by the liquidator with the registrar within fifteen days of the date of the meeting.

(3) If the liquidator fails to comply with this section, he shall be liable, in respect of each failure, to a penalty of level 1 on the standard scale.