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(1)The [F1Corporation] may present a petition for the winding up under the Companies Act of a registered housing association to which this section applies
[F2(a)]on the ground that the association is failing properly to carry out its purposes or objects [F3or
(b)on the ground that the association is unable to pay its debts within the meaning of section 518 of the Companies Act 1985.]
(2)This section applies to a registered housing association which is—
(a)a company incorporated under the Companies Act, or
(b)a society registered under the 1965 Act (to which the winding up provisions of the Companies Act apply in accordance with section 55(a) of the 1965 Act).
Textual Amendments
F1Words substituted by Housing Act 1988 (c. 50, SIF 61), s. 59(2)(3)(4), Sch. 6 Pt. I para. 2
F2 “(a)” inserted by Housing Act 1988 (c. 50, SIF 61), s. 59(2)(3)(4), Sch. 6 Pt. I para. 16
F3 “or” and s. 22(1)(b) added by Housing Act 1988 (c. 50, SIF 61), s. 59(2)(3)(4), Sch. 6 Pt. I para. 16