The Bank may withdraw the authorisation issued under Regulation 50 to a branch of a third country firm where such a firm -

(a) does not make use of the authorisation within 12 months,

(b) expressly renounces the authorisation,

(c) has provided no investment services or performed no investment activity for the preceding 6 months unless the Bank has provided for the authorisation to lapse in such a case,

(d) has obtained the authorisation by making false statements or by any other irregular means,

(e) no longer meets the conditions under which the authorisation was granted, or

(f) has contravened any provision of these Regulations that governs the operating conditions for investment firms and which are applicable to third-country firms and the contravention or contraventions is or are, in the opinion of the Bank, of a serious and systematic nature.