(1) The Bank may revoke an authorisation on being satisfied on reasonable grounds that -

(a) the holder of the authorisation has not begun to carry on a regulated business within 12 months after the date on which the authorisation was granted, or

(b) the holder of the authorisation has not carried on such a business within the immediately preceding 6 months, or

(c) the authorisation was obtained by means of a false or misleading representation, or

(d) the holder of the authorisation has contravened or is contravening, or has failed or is failing to comply with a provision of this Part or any other designated enactment or designated statutory instrument, a condition of the authorisation or a requirement imposed by or under this Part or any other designated enactment or designated statutory instrument, or

(e) if the holder of the authorisation is a natural person, the holder is adjudicated bankrupt, or