(1) If, where a company is being wound up, the winding up is not concluded within 2 years after its commencement, the liquidator shall, at such intervals as may be prescribed, until the winding up is concluded, send to the registrar of companies a statement in the prescribed form and containing the prescribed particulars about the proceedings in and position of the liquidation.
(2) If a liquidator fails to comply with this section, he shall be guilty of an offence and liable to a fine not exceeding £1,500.
(3) An offence under this section may be prosecuted by the registrar of companies.