(1) The liquidator shall, when he has completed the winding up of a company and his final accounts have been drawn up and have been passed by the Auditor-General, apply to the Court for an order terminating the liquidation proceedings.

(2) The liquidator shall give notice of his application to the Court and to every creditor with an admitted proof together with a summary of the final accounts.

(3) The liquidator shall send a copy of his final accounts to the Registrar for registration and he shall attach thereto a statement showing that,

(a) application had been made for an order under section 26 of this Act, or

(b) in his opinion there were no grounds for such an application.

(4) The Court shall, if satisfied with the application by the liquidator, grant the application and the registrar of the Court shall send a copy of the order made by the Court to the Registrar for registration.