Company liquidator reporting and quarterly meeting duties - and associated fines - were removed from the Companies Act by insolvency reform. Section 316, formerly imposing a duty on the company liquidator to file quarterly progress reports and to convene quarterly meetings of members and creditors in prescribed form and manner, and prescribing fines for each failure to comply, has been omitted by the Insolvency and Bankruptcy Code, 2016, thereby removing those statutory reporting, meeting and penalty provisions from the Companies Act.