Dissolution of society
56 Power of registrar to petition for winding up.
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.