(1) The Bank may revoke an authorisation under section 19 if it appears to the Bank that -
(a) any requirement for the granting of the authorisation is no longer satisfied,
(b) the ICAV, any of its directors or its secretary or any of its secretaries, its depositary or (if it has one) its management company -
(i) has seriously or systematically contravened financial services legislation, or
(ii) in purported compliance with any requirement imposed by or under financial services legislation, has furnished information to the Bank that is false or misleading in a material particular, knowing it to be so false or misleading or being reckless as to whether it is so false or misleading,
(c) the ICAV has not carried on the business of an authorised ICAV in the previous 6 months, or
(d) it is desirable to do so in order to protect the interests of shareholders or potential shareholders in the ICAV.
(2) For the purposes of subsection (1)(b), the Bank may take into account any matter relating to
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