Section 7 Winding-up of the light railway company on sale of undertaking.

Where, on the application of any company incorporated by an order under the principal Act, it is shown to the satisfaction of the Board of Trade, either by statutory declaration or such other evidence as the Board consider sufficient, that the company have, owing to the sale of their undertaking or otherwise, ceased to be in a position to carry out the objects for which they were incorporated, the Board of Trade may, if they think fit, by order declare that the company shall be wound up, and on any such order being made the provisions of F1the M1Companies Act 1948, shall apply as if the company were a company within the meaning of that Act, and had resolved by special resolution that the company be wound up voluntarily.