(1) The Bank may -

(a) submit a proposal to the ECB to withdraw a licence if the holder of the licence so requests,

(b) submit a proposal to the ECB to withdraw a licence if the holder of the licence -

(i)

(I) has not commenced to carry on banking business within twelve months of the date on which the licence was granted, or

(II) has ceased to carry on banking business and has not carried it on during a period of more than six months immediately following the cesser,

(ii) being a company, is being wound up,

(iii) is a credit institution to which section 9F(b) of this Act relates, which is being duly wound up or otherwise dissolved,

(iv) has obtained the licence through false statements or any other irregular means,