(1) Subject to subsection (2), a creditor of a transferor in relation to a transfer order may apply to the Court, by motion on notice grounded upon affidavit, for an order permitting the creditor to apply for compensation under this Act.
(2) An application under subsection (1) may be made only on a date that is -
(a) after the date on which the affairs of the transferor have been wound up, and
(b) before the date that is 6 months after the date referred to in paragraph (a).
(3) On an application under subsection (1), the Court shall order that the creditor be permitted to apply for compensation, if the Court is satisfied that -
(a) a resolution for the winding-up of the transferor was passed, or an order for its winding-up was made, within 12 months after the making of the transfer order,
(b) the affairs of the transferor have been wound up,
(c) any financial obligation of the transferor to the creditor in respect of which the creditor seeks to apply for compensation was undertaken bef
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