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48.—(1) The Regulator may present a petition for a community interest company to be wound up if the court is of the opinion that it is just and equitable that the company should be wound up.
(2) Paragraph (1) does not apply if the company is already being wound up by the court.
(3) In Article 104 of the Insolvency (Northern Ireland) Order 1989 (NI 19) (application for winding up), after paragraph (5) insert—
“(5A) A winding-up petition may be presented by the Regulator of Community Interest Companies for Northern Ireland in a case falling within Article 48 of the Companies (Audit, Investigations and Community Enterprise) (Northern Ireland) Order 2005.”.
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