(8)Before a petition for winding up a company presented by a contingent or prospective creditor is admitted, the leave of the [Tribunal] [ Substituted by Act 11 of 2003, Section 54, for " Court" .] shall be obtained for the admission of the petition and such leave shall not be granted-(a)unless, in the opinion of the [Tribunal] [ Substituted by Act 11 of 2003, Section 54, for " Court" .], there is a prima facie case for winding up the company; and(b)until such security for costs has been given as the Court thinks reasonable.
