yes because Suthep made troubles with the elections....but they why doesn't matter.
When the government is expired, means there is no government, the old government has to "inform" the king about the power vacuum. Don't know all his options, but the most common would be to install a government of bureaucrats which prepares for new elections.
And if someone think that is not democratic, something like 3 years ago we had such a government in Austria, installed by the president. No one complained about it.
There can be different opinions on what to do, but one thing is for sure you can't continue to govern, because a) there is an expiration date, if it wouldn't matter than there would be no expiration date and b) think thru what that means, it would open the door for any dictator, every government that may loose can sabotage the elections and remain in power for infinity.