(1) The appropriate regulator may exercise its power of intervention in respect of an incoming firm if it appears to it that -
(a) the firm has contravened, or is likely to contravene, a requirement which is imposed on it by or under this Act (in a case where the appropriate regulator is responsible for enforcing compliance in the United Kingdom);
(b) the firm has, in purported compliance with any requirement imposed by or under this Act, knowingly or recklessly given the appropriate regulator information which is false or misleading in a material particular; or
(c) it is desirable to exercise the power in order to advance -
(i) in the case of the FCA, one or more of its operational objectives, and
(ii) in the case of the PRA, any of its objectives.
(1A) For the purposes of subsection (1)(c) it does not matter whether there is a relationship between the incoming firm and the persons whose interests will be protected by the exercise of the power of intervention.
(1AA) Where an inco