The Court of Session has jurisdiction to wind up any company registered in Scotland.
When the Court of Session is in vacation, the jurisdiction conferred on that court by this section may (subject to the provisions of this Part) be exercised by the judge acting as vacation judge in pursuance of section 4 of the Admnistration of Justice (Scotland) Act 1933.
Where the amount of a company's share capital paid up or credited as paid up does not exceed £120,000, the sheriff court of the sheriffdom in which the company's registered office is situated has concurrent jurisdiction with the Court of Session to wind up the company; but—
For purposes of this section, the expression "registered office" means the place which has longest been the company's registered office during the 6 months immediately preceding the presentation of the petition for winding up.
The money sum for the time being specified in subsection (3) is subject to increase or reduction by order under section 416 in Part XV.
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