On a petition made to any court for the winding up of a company which holds an appointment under Chapter I of this Part or is a qualifying licensed water supplier qualifying water supply licensee or a qualifying sewerage licensee—
the court shall not make a winding-up order in relation to the company; but
if the court is satisfied that it would be appropriate to make such an order if the company were not a company holding such an appointment or a qualifying licensed water supplier qualifying water supply licensee or a qualifying sewerage licensee, it shall, instead, make a special administration order in relation to the company.
But the court may not exercise its powers on the petition unless—
notice of the petition has been served on the relevant persons, and
a period of at least 14 days has passed starting with the day on which those notices were served (or, if served on different days, the later of those days).
The relevant persons are entitled to be heard—
at the hearing of the petition, and
at any other hearing of the court in relation to the company under or by virtue of Part 4 of the Insolvency Act 1986.
In this section "relevant person" means the Authority and—
in the case of a petition that relates to a relevant undertaker whose area is wholly or mainly in Wales, the Welsh Ministers;
in any other case, the Secretary of State.