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In the case of a society to which section 4 of this Act applies which was registered or deemed to be registered under the Act of 1893 before 26th July 1938, a petition for the winding up of the society may be presented to the court by [F1the Authority] if it appears to [F1the Authority]—
(a)that neither of the conditions specified in section 1(2) of this Act is fulfilled in the case of that society; and
(b)that it would be in the interests of persons who have invested or deposited money with the society or of any other person that the society should be wound up.
Textual Amendments
F1Words in s. 56 substituted (1.12.2001 subject to a saving in S.I 2001/2617, art. 13(3), Sch. 5 para. 2(d)) by S.I. 2001/2617, art. 13(1), Sch. 3 Pt. III para. 215(i)(ii))