Liquidation timeframes require completion or periodic contributories meetings and status reports filed with the board. The regulation requires the liquidator to endeavour to complete voluntary liquidation within specified periods depending on creditor approval; if liquidation extends beyond those periods the liquidator must hold contributories meetings at prescribed intervals and present Status Reports detailing stakeholder settlement, assets remaining, distributions, material litigation, avoidance application developments, reasons for delay and additional time required, enclose audited liquidation accounts of receipts and payments, and file the Status Report with the Board within seven days of the meeting.