(1) A designation order may be revoked by a further order made by the designating authority if at any time it appears to the designating authority -

(a) that any requirement of the Schedule is not satisfied in the case of the system to which the designation order relates; or

(b) that the system or the system operator of that system has failed to comply with any obligation to which they are subject by virtue of these Regulations.

(2) Subsections (1) to (6) of section 298 of the 2000 Act shall apply in relation to the revocation of a designation order under paragraph (1) as they apply in relation to the revocation of a recognition order section 297(2) of that Act; and in those subsections as they so apply -

(a) any reference to a recognised body shall be taken to be a reference to a designated system;

(b) any reference to members of a recognised body shall be taken to be a reference to participants in a designated system;

(ba) any reference to the appropriate regulator shall be taken to be a reference to the designating authority;