8.—(1) If the relevant company fails to take action under section 7(2) or if, having taken action, it fails to complete its winding up or obtain the order of the court that it be wound up, as the case may be, the Minister shall present a petition to the court —
(a)
for the winding up of the relevant company; or
(b)
in the case of a foreign company for the winding up of the affairs of the relevant company so far as the assets thereof within Singapore are concerned,
pursuant to section 253(1)(e) of the Companies Act [Cap. 50] and the petition shall be dealt with by the court on the ground referred to in section 254(1)(l) of the Companies Act.
(2) For the purposes of any proceedings under the Companies Act for the winding up of the relevant company the rules relating to the winding up of companies shall be applicable with such modifications and adaptations as the court, in its discretion, considers expedient or necessary.