—(1) Where a charity may be wound up by the High Court under the Companies Act (Cap. 50), an application for it to be wound up under that Act by the High Court may be made by the Attorney-General, as well as by any person authorised by that Act.
(2) Where a charity is a company or other body corporate, and has power to alter the instruments establishing or regulating it as a body corporate, no exercise of that power which has the effect of the body corporate ceasing to be a charity shall be valid so as to affect the application of —
any property acquired under any disposition or agreement previously made otherwise than for full consideration in money or money’s worth;
any property representing property referred to in paragraph (a);
any property representing income which has accrued before the alteration is made; or
[Charities Act 1985 Ed., s. 19]