The liquidator shall complete the liquidation during the period specified therefor by the resolution or the judgement issued for the dissolution. Subject to the provision of Article 43 of this Law, the period specified for the liquidation may, for the reasons stated by the liquidator, be extended by a resolution of the partners or the extraordinary general meeting, if the liquidation is voluntary, or by an order on a petition, by the president of the competent court if the liquidation is compulsory. In all circumstances, if the works of the liquidation extend for more than a year, the liquidator shall convene the partners or the shareholders at the end of each year for which the works of the liquidation are extended, pursuant to the procedures for convening of the partners or the extraordinary general meeting, for presenting to them a report on the works of the liquidation during the ending year and the financial statements about such year. The convening must be within thirty (30) days at most of the end of the year.
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