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Petition by registrar for winding-up of credit union. 95.(1) A petition for the winding-up of a credit union may be presented to the court by the registrar if it appears to the registrar that the credit union (a)is unable to pay sums due and payable to its members; or (b)is able to pay such sums only by obtaining further subscriptions for shares or by defaulting in its obligations to creditors. (2) Section 57, in its application to credit unions, shall have effect as if subsection (1) of this section were included among the sections mentioned in subsection (1) of that section.[
© 1969 Crown Copyright
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