Section 758 | Enforcement of prohibition: orders available to the court after contravention

(1)This section applies if it appears to the court—

(a)on an application under this section, or

(b)in proceedings under Part 30 (protection of members against unfair prejudice),

that a company has acted in contravention of section 755 (prohibition of public offers by private companies).

(2)The court must make an order requiring the company to re-register as a public company unless it appears to the court—

(a)that the company does not meet the requirements for re-registration as a public company, and

(b)that it is impractical or undesirable to require it to take steps to do so.

(3)If it does not make an order for re-registration, the court may make either or both of the following—

(a)a remedial order (see section 759), or

(b)an order for the compulsory winding up of the company.

(4)An application under this section may be made by—

(a)a member of the company who—

(i)was a member at the time the offer was made (or, if the offer was made over a period, at any time during that period), or

(ii)became a member as a result of the offer,

(b)a creditor of the company who was a creditor at the time the offer was made (or, if the offer was made over a period, at any time during that period), or

(c)the Secretary of State.