440. RIGHT TO PRESENT WINDING UP PETITION WHERE COMPANY IS BEING WOUND UP VOLUNTARILY

(1) Where a company is being wound up voluntarily, a petition for its winding up by the Tribunal may be presented by -

(a) any person authorised to do so under section 439 ; or

(b) the Official Liquidator.

(2) The Tribunal shall not make a winding up order on a petition presented to it under sub-section (1), unless it is satisfied that the voluntary winding up cannot be continued with due regard to the interests of the creditors or contributories or both.