(1) A Treaty firm ceases to qualify for authorisation under Schedule 4 if its home State authorisation is withdrawn.
(2) At the request of a Treaty firm, the appropriate regulator may give a direction cancelling its Schedule 4 authorisation.
(2A) In subsection (2) "the appropriate regulator" means -
(a) in the case of a PRA-authorised person, the PRA, and
(b) in any other case, the FCA.
(3) If a Treaty firm has a Part 4A permission, it does not cease to be an authorised person merely because it ceases to qualify for authorisation under Schedule 4.