(1) The Authority may revoke the registration of a designated credit institution on being satisfied on reasonable grounds that -

(a) the institution has not begun to carry on any business of a designated credit institution within 12 months after the date on which the registration was notified to the institution,

(b) the institution has not carried on any such business within the immediately preceding 6 months,

(c) the registration was obtained by means of a false or misleading representation,

(d) the institution has contravened or is contravening, or has failed or is failing to comply with a provision of this Act or a regulatory notice,

(e) the institution has become subject to an insolvency process,

(f) the institution no longer has sufficient "own funds" (as referred to in the Capital Requirements Directive),

(g) the cover assets comprised in a cover assets pool maintained by the institution do not comply with any provision of Part 4,