(1) In the case of the winding-up of a designated credit institution, or a body that was formerly a designated credit institution, that is a company incorporated outside the State, references in the Central Bank Acts 1942 to 2011 to -
(a) the winding-up of a designated credit institution or a body that was formerly a designated credit institution, or
(b) any provision of the Companies Acts which relates to winding-up,
shall be construed as references to the corresponding provisions in the law of the foreign jurisdiction concerned if the context so admits and the circumstances so require.
(2) For the purposes of a winding-up referred to in subsection (1), the Court may order that the Central Bank Acts 1942 to 2011 apply, if necessary, with such modifications as the Court orders.