Section 422, The Companies Act, 2009

(1) If the winding up continues for more than one year,the liquidator shall summon a general meeting of the company and a meeting of creditors– (a) at the end of the first year from the commencement of the winding up, and of each succeeding year; or (b) at the first convenient date within 3 months from the end of the year or such longer period as the Commission may allow, and shall lay before the meetings an account of his acts and dealings and of the conduct of the winding up during the preceding year. (2) If a liquidator fails to comply with subsection (1) he Le5,000,000 Provisions applicable to voluntary winding up