(1)This section applies to a registered social landlord which is—
(a)a registered society, or
(b)a registered company.
(2)The Regulator may present a petition for the winding up of the registered social landlord under the Insolvency Act 1986 (c.45) on the ground—
(a)that the registered social landlord is failing properly to carry out its objects,
(b)that the registered social landlord is unable to pay its debts within the meaning of section 123 of that Act, or
(c)the Regulator has directed the registered social landlord under section 67 to transfer all its assets to another registered social landlord.