(1) The Bank may revoke the authorization of a UCITS if it appears to the Bank -
(a) that any of the requirements for the authorization of the UCITS are no longer satisfied;
(b) that it is undesirable in the interests of the unit-holders or potential unit-holders that the UCITS should continue to be authorized; or
(c) without prejudice to subparagraph (b), that the management company or investment company or trustee of the UCITS has contravened any provision of these Regulations or, in purported compliance with any such provision, has furnished the Bank with false, inaccurate or misleading information or has contravened any prohibition or requirement imposed under these Regulations.
(2) For the purposes of paragraph (1) (b) the Bank may take into account any matter relating to the UCITS, the management company, investment company or trustee, a director or controller of the management company, investment company or trustee or any person employed by or associated with the management