Liquidation process oversight and creditor claims management are revised, with new limits on amended provisions for earlier proceedings. Amendment of section 35 revises the liquidator's functions to maintain an updated list of creditors' claims, omits the words 'invite and' from clause (j), and substitutes clause (l) to cover proceedings relating to avoidance transactions and fraudulent or wrongful trading. The committee of creditors is made responsible for supervising the liquidator's conduct of the liquidation process under Chapter III in the prescribed manner. The amendment also states that the revised clauses and related provisions do not apply to liquidation or voluntary liquidation processes initiated on or before commencement of the amendment Act.