Submission of periodical reports to Tribunal

(1) The Company Liquidator shall make periodical reports to the Tribu- nal and in any case make a report at the end of each quarter with respect to the progress of the winding up of the company in such form and manner as may be prescribed.

(2) The Tribunal may, on an application by the Company Liquidator, review the orders made by it and make such modifications as it thinks fit.