(1) The Commission may, subject to subsection (4) below, revoke a building society's authorisation if -
(a) it appears to the Commission that at no time during a financial year of the society which began and ended during the currency of the authorisation did the society raise funds or accept deposits of money in pursuance of the authorisation;
(b) it appears to the Commission that a period of six months has elapsed since the end of a financial year of the society without the society's having sent to it the annual accounts for that year as required by section 81(2);
(c) the Commission is satisfied that, where the society's authorisation is subject to conditions, a condition has not been complied with by the society;
(cc) the Commission is satisfied that a direction under section 42B(1) has not been complied with by the society;
(cd) it appears to the Commission that -
(i) a composition or arrangement with creditors has been made in respect of the society;
(ii) a receiver or manager