7. Where a valuation discloses a deficiency, the[F1 Commission] may, if, after investigation,[F1 it] is satisfied that theF1. . . industrial assurance company should cease to carry on industrial assurance business,—N.I.
Sub‐para. (a) rep. by 1992 c. 40
(b)in the case of an industrial assurance company, present a petition to the High Court for the winding-up of the company.