(1) The Bank may revoke the authorisation of a UCITS if it appears to the Bank -
(a) that any of the requirements for the authorisation of the UCITS are no longer satisfied,
(b) that it is undesirable in the interests of the unit-holders or potential unit-holders that the UCITS should continue to be authorised,
(c) without prejudice to subparagraph (b), that the management company or investment company or depositary of the UCITS has seriously or systematically contravened any provision of these Regulations or, in purported compliance with any such provision, has furnished the Bank with false, inaccurate or misleading information or has contravened any prohibition or requirement imposed under these Regulations, or
(d) that the UCITS has not made use of the authorisation within 12 months of the date on which it was authorised under these Regulations, or has failed to operate as a UCITS for a period of more than 6 months.
(2) For the purposes of making a determination to revoke the author
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