(1) The FCA may exercise its power of intervention in relation to a third country firm with an EEA branch where the FCA has clear and demonstrable grounds for believing that the firm has contravened, or is contravening, a requirement imposed on the firm -
(a) by or under any provision adopted for the purpose of implementing the markets in financial instruments directive by an EEA State where a branch of the firm is located and authorised in accordance with Article 39 (establishment of a branch) of the markets in financial instruments directive;
(b) by or under the markets in financial instruments regulation; or
(c) by any directly applicable EU regulation made under the markets in financial instruments directive or the markets in financial instruments regulation.
(2) Section 197 [Section 197 was amended by paragraph 37(2), (3), (4)(a) and (b), and (5) of Schedule 4 to the Financial Services Act 2012.] (procedure on exercise of power of intervention) of the Act applies to the exerc