This section applies if it appears to the court—
on an application under this section, or
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).
The court must make an order requiring the company to re-register as a public company unless it appears to the court—
that the company does not meet the requirements for re-registration as a public company, and
that it is impractical or undesirable to require it to take steps to do so.
If it does not make an order for re-registration, the court may make either or both of the following—
a remedial order (see section 759), or
an order for the compulsory winding up of the company.
An application under this section may be made by—
a member of the company who—
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
became a member as a result of the offer,
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
the Secretary of State.