(4)A contributory shall not be entitled to present a petition for winding up a company unless-(a)either the number of members is reduced, in the case of a public company, below seven, and, in the case of a private company, below two; or(b)the shares in respect of which he is a contributory, or some of them, either were originally allotted to him or have been held by him, and registered in his name, for at least six months during the eighteen months immediately before the commencement of the winding up, or have devolved on him through the death of a former holder.
