Voluntary liquidation claims and termination rules are tightened with notified forms, reasoned rejection, and updated stakeholder reporting. The amendment revises the voluntary liquidation regulations by substituting several prescribed forms with forms notified by Board circulars, changing the stakeholder consultation provision to stakeholder assistance, and inserting rules for submission and updation of claims. It also requires written reasons for rejection of claims, communication of admission or rejection within seven days, and introduces a new framework for termination of voluntary liquidation proceedings, including resolution requirements, reporting duties, and cessation of the liquidator's powers upon termination.