(1) The winding up proceedings of the sooiety shall be closed

(1) The winding up proceedings of the society shall be closed within three years from the date of the order of the winding up, unless the period is extended by the Registrar ; Provided that, the Registrar shall not grant any extension for a period exceeding one year at a time and four years in the aggregate and shall, immediately after the expiry of seven years from the date of the order for winding up of the society, deem that the Liquidation