Section 515. Liquidator to make good defaults

(1) If any liquidator who has made any default in lodging or making any application, return, account or other document, or in giving any notice which the liquidator is by law required to lodge, make or give, fails to make good the default within fourteen days from the service of notice requiring the liquidator to do so, the Court may, on the application of any contributory or creditor of the company or the Official Receiver, make an order directing the liquidator to make good the default within such time as is specified in the order.

(2) Any order made under subsection (1) may provide that all costs of and incidental to the application shall be borne by the liquidator.

(3) Nothing in subsection (1) shall prejudice the operation of any written law imposing penalties on a liquidator in respect of any such default.